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Cheapest Gold Coins

 When you are investing in gold coins, the goal is to buy low and sell high, just with any other investment. The main difference is that it is usually best to hold onto the coins for a period of time in order to get to that higher price for selling. Gold is one of the best investments you can make because it will always be rare and in demand.

 Many investors, especially those new to the gold business, will want to know how to find the cheapest gold coins. There are different ways to find cheap coins. If a new investor simply doesn't want to spend lots of money, then he should simply buy the smallest coin that he can. However, one should know that there are charges for production and shipping as well as the dealer's markup, so for many investors, purchasing the larger coins is actually more economical.
Knowing what you are buying is of prime importance. By using the available catalogs of coins, you will have detailed information about the coin as well as pictures of both the front and back of the coin. When purchasing cheap gold coins on the internet, it is important that you use websites that show both the front and back of the coin so that you can enlarge the photos and examine the coins. Find out how long the dealer has been in business and whether or not they are members of a professional association.

There is a premium that is charged on each gold coin when you purchase it from a dealer or anyone else. It can be helpful to shop around for different premiums and go with the cheapest one for the coin you wish to purchase. For instance, one dealer may have his premium set at 20% above the gold spot price or actual value of the gold, while another dealer may be charging a 30% premium. If we assume that the actual cost of the gold coin you are looking at is equal, you will want to go with the first dealer in order to get the cheapest gold coin. By making comparisons on multiple sites, you can determine which site has the lowest price for the coin as well as the lowest premium.
In addition to the spot gold price and the premium, you will find that there will be costs for insurance, taxes, and shipping as well as other possible charges. Remember to add all of the costs together so that you can make more accurate comparisons.
Many people find that they can purchase the cheapest gold coins through online auctions, where it is possible to purchase it at a fraction of its cost. You may also find individuals trying to sell their gold through the online classifieds. The challenge with these methods is your ability to check out the seller and be assured that he is legitimate. Many are, but there are also quite a few scammers out there. Be sure to check out if the seller at an auction has other bid items he has put up for sale and check the reviews he has received. An individual may be harder to verify.