American investors love a bag of coins. There is something about a bag of coins, especially if it is gold and silver, that gets investors excited. They feel like they have won the jackpot or the lottery. Any legitimate dealer can put a bag of coins together that will hit many different price points.
Inform your dealer of what price range you have in mind and how many coins you want selected. He will use his knowledge to choose a balanced selection to meet your price range. You may want a mixture of gold and silver coins or you may want your bag of coins to feature the same coin in different years of release.
Buying coins is a little more complicated than buying gold bars by weight. Coins have an add on value due to their rarity. It is important that the dealer you choose is an expert in coin grading and has all the necessary paperwork to validate any claims. You can also ask him to show you recent auction or other sales prices for a specific coin to make sure that you are not overpaying.
Please be aware that because of the rise in gold prices, many shady dealers have sprung up to take advantage of people who might not know what they are selling or buying. They will try to buy gold coins for the weight value alone and then try to sell you the same coins at a premium collectible level.
Reputable dealers are easy to find. They have been in business a long time, provide purchase guarantees in place, and put customer service first. They should also offer a good education of the strengths and weaknesses of gold for the first time buyer.
So go out and put together a coin bag, it’s fun and a great investment. But before you bring them home or store them in a secure place, ask your dealer about the proper care that will insure their value for decades to come.
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