What Kind of Gold Collector Are You?
What are the differences between coin buyers and collectors? While both groups are clearly interested in achieving the highest possible value for their purchase, there are fundamental differences between the two categories.
Of course, gold is an exceptional safe-haven investment, but if you are new to the process of buying gold, you might not have a sound understanding of what type of gold or precious metal coins would best suit your financial needs. If you are considering purchasing precious metal coins as a collector or a buyer, here are a few things to consider before you make the leap.
Gold coin collectors have a solid knowledge and interest in the numismatic elements that affect the coins’ value. Factors like the rarity of the coin, the aesthetic of the strike, and the overall condition are crucial when considering both current and future prices. Successful coin collectors scrutinize every coin in a particular collection before committing to a purchase, and often have a series of coins and standards they specifically look for. Furthermore, serious collectors are interested in the history behind the minting, which may or may not influence the market rate.
Numismatic coin collecting can be rife with dubious dealers and radically high acquisition premiums. If you’re considering purchasing old coins for the value of the metal content, don’t hand over your money unless the collection has been certified by a globally-recognized grading board—either the NCG (Numismatic Guaranty Corporation), PCGS (Professional Coin Grading Service), ICG (Independent Coin Graders), or ANACS (American Numismatic Association Certification Service).
If you have questions about buying gold or other precious metals, please contact the experts at Birch Gold Group for a comprehensive consultation.