is buying investing in rare coins (us mint and earlier) safer than buying bullion… or smarter too.?
congress scares me. i have heard both sides of the stimulus package but everyone agrees it is to small. where do i put my savings. where do i put the cash from my pickle jar under the porch.
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Buying pre 1933 US gold coins is not "safer" However is is wiser. Here is the reason why. The gold coins currently produced by the US mint called the gold eagles are in very short supply. Also the only gold coins being produced are the 1 ounce gold eagles. The 1 ounce gold eagles are great coins but there is a problem with them. Under current law when you go to cash them in the dealer or trading company has to report that to the IRS on a 1099 if you trade in 10 coins or more. This is not required for the fractional glod coins such as the 1/10 ounce, 1/4 ounce, and 1/2 ounce gold eagles. Sadly the US mint shut down production of the fractional gold coins in September of 2008 to prevent the public from protecting themselves. They also started rationing and increasing the minimum amount that the dealers and bullion banks will recieve and the quanity they must sell to individuals. Most companies now require a 10 one ounce coin min just to get into this market. They have effectly priced most people out of wealth protection by doing this.
I personally buy pre 1933 US $20 gold coins for many reasons. There is no reporting requirement on 1099 to the IRS when you sell back your gold coins in ANY amount. Also pre 1933 gold coins have outpaced gold bullion coins in overall returns over the last 10 years. The reason it has outpaced gold bullion coins is they cant go back and make this material. Pre 1933 US $20 gold pieces currently cost about $1250 pre coin on average. Their increase over the last 10 years has been an average of 33% per year. Gold bullion on the other hand is currently selling for about $975 if you can find it. It has gone up only 22% per year over the last 10 years. Pre 1933 US $20 gold has outpaced all other investment classes. No exception.
Alot of people also say that the pre 1933 gold is better because it cant be confiscated. This is not true. It would MOST LIKELY be exempt from a confiscation. However our money is not backed by gold any longer and the likelyhood of another gold confiscation today is very small. Unlike 1933 only about 1 in 15,000 housholds own gold. Also the US would be the laughing stock if they began a gold confiscation again. China recently allowed the ownership of gold. I find the confiscation possibility a non factor in choosing what gold to own. I buy what I can find but I prefer the pre 1933 US $20 gold pieces on the lower end, the ungraded raw coins for my holding.
OMG…You sound like us, we have just finished talking about what is better rare coins or bullion.
I don’t know, I feel like getting it and stuffing it in a pickle jar too, but sure as we do that the money we have will have lost value.
I feel like getting it and running to a different country where the cost of living is 50% less then ours. Costa Rica, Dominica that’s two we have been thinking about.
What you pay for the coins from a dealer will be a lot more than what they will buy them from you, even 20 years from now. To make a good profit in coins, you have to find an uninformed private seller somewhere and then another uninformed private buyer.
Also, forget about the pickle jar, go to bankrate.com and park your money in the highest interest FDIC-insured CD until you are ready to get back into stocks. Conservative stocks are from those companies selling/transporting something everyone needs, uses up quickly and needs to buy more. Soap, electricity (do your homework on this, as some utilities are very good, and some bad), natural gas pipeline companies, etc.
They are different investments really. If you wanted to "double up" on investments, you could buy commom date, common grade gold or silver coins for as low a premium as possible over bullion value. Then you would have both coin and bullion investments. Buying higher grade or rarer dates, though, changes your bullion investment into a collectable investment. Noone would ever melt a rare date coin down for the metal content, so you are talking about different buyers.
I am not saying rare coins do not go up in value, but they do not behave like bullion, except for those coins that I described. It depends on what you wish to invest in.