Question about increasing value of coins (from noob)

W

WaveHiMike

Greenie
Oct 10, 2015
17
12
Toronto
Detector(s) used
Garrett AT Pro
Primary Interest:
All Treasure Hunting
Which should I get?:

99992023_a_large.jpg$161599992001_a_large.jpg$1600

Is $15 extra worth it to pay for a low mintage "special" series coin in the hopes that it will go up in value more than its melt value?
 

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WaveHiMike said:
Which should I get?:

View attachment 1224152$1615View attachment 1224154$1600

Is $15 extra worth it to pay for a low mintage "special" series coin in the hopes that it will go up in value more than its melt value?
Click to expand...

Get the 2006 American .999 gold one ounce buffalo proof.
For an American coin, it's still sold relatively close to spot price, extremely recognizable and widely sought after. The proofs cost a little more then the standard production units, but they are also numismatically beautiful coins.
2006 and 7 had very high mintage numbers. The 2008 version sells for a substantial premium because the mint stopped production due to the economic chaos that was occurring at the time.

Good luck to you.
 

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Buy the one that is closest to spot price...If you buy the others, dealers will charge a premium, but when you go to sell they buy all of them like there just an oz. of gold...
 

masterjedi said:
Buy the one that is closest to spot price...If you buy the others, dealers will charge a premium, but when you go to sell they buy all of them like there just an oz. of gold...
Click to expand...

It takes very little time to invest in coins that have both numismatic and silver or gold value.
Just like premium real estate selling them can be extremely lucrative but takes a lot longer. Sometimes years.

The good news is that many ordinary and unknowing people eagerly part with very rare and valuable coins for their melt value or sometimes less all the time.
 

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The 2006 Gold Buffalo Proof will increase in value more than just it's gold value? That's why it's a good idea to get it?

And also I'm in Canada, so I would likely have to order it from the US, which means more fees to pay, is it worth it even with those extra fees? Where should I get it too?
 

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If when you sell any of them to a dealer, you will get spot price +/- the current %. If you sell to a private party you could possibly get more. Sort of like if I was selling to you. You are interested in paying a premium hoping to get it back and more some day. I wish you luck... If I was buying, I would buy the ones I could get closet to their melt value. Gold is Gold...
 

masterjedi said:
If when you sell any of them to a dealer, you will get spot price +/- the current %. If you sell to a private party you could possibly get more. Sort of like if I was selling to you. You are interested in paying a premium hoping to get it back and more some day. I wish you luck... If I was buying, I would buy the ones I could get closet to their melt value. Gold is Gold...
Click to expand...

I have heard people say this about silver and gold, but I have to disagree. To save a few bucks (I mean $10 or so on an oz of gold), would it really be worth it to get some gold "bar" vs. a government issued coin? NO! With good Chinese gold bar fakes out there (some in "cards"), why take a chance? Even if you buy from a reputable dealer there is a chance even they got fooled buying something over the counter, then they put it in their showcase without knowing it is fake. I have seen some fake gold bars and they weight right (tungsten core?) and look pretty. Getting a fake gov minted gold coin that looks perfect and weighs right won't happen. Stick to cheaper gov made bullion coins from any well known gov mint- Maples, Krugs, etc. I recommend to avoid bars completely unless you are a veteran gold bullion buyer, but even then why take a chance.

Having said that, I would not pay much more than $10-$15 over the price of a generic gold bar to get a gov minted coin. Sometimes the Chinese use photos of the real thing (for the fake gov bullion coins) in their online advertisements, but I have seen fake bars in person that looked and felt (heavy) legit and were at least close to the right size from what I saw. I know that probably 99% of the gold bars at the average local store are legit, you don't want to get that 1% that aren't. At least with gov issued gold coins there is a known design and the fakes don't come close in quality like the real ones, especially if there is detailed art work on the coin- like the leaf on the reverse of the Maple. I have seen fake Krugs, Maples, Eagles- all in gold and they looked bad to someone who is familiar with the real thing. Here are a few ads to look at.

Gold Plated Tungsten Smi Gold Bar 1 Oz - Buy Pure Tungsten Bar,24k Gold Clad Bullion Bar,Tungsten Gold Bar Product on Alibaba.com

PS If a person believes that "gold is gold" but wants gov minted bullion at the same price as a new gold bar, then try to find a dealer with slightly scratched gold Maples or other 999 coins that weren't treated right. I can get those for about the same or even less than some new generic gold bar. In that case it is true gold is gold, but know you will get a bit less than melt when you sell if the coin is so damaged it is generally unmarketable. But at least you will know it is real and will have purchased it as close to spot as possible- and it is real gold.

Just my opinion.

Jim
 

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TheRingFinder said:
Mike - I did a quick check on the internet and found the "growling cougar" gold coin for an asking price of $1,280.00 -

Gold Cougar $200 Gold Coin 1 oz | Royal Canadian Mint
Click to expand...


That price is actually HIGHER than the price the OP was quoted when you convert Canadian dollars to US dollars. I am assuming the price the OP quoted was in Canadian dollars. The OP's price in US dollars is roughly $1250 US, vs. $1280 US that you quoted from Monex.

Even Apmex is cheaper than Monex.

http://www.apmex.com/product/87833/2015-canada-1-oz-gold-growling-cougar-99999-bu

Jim
 

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WaveHiMike said:
The 2006 Gold Buffalo Proof will increase in value more than just it's gold value? That's why it's a good idea to get it?

And also I'm in Canada, so I would likely have to order it from the US, which means more fees to pay, is it worth it even with those extra fees? Where should I get it too?
Click to expand...

All gold is not just gold.. The Gold buffalo is the purest production American gold coin. .9999

If you buy squirrels or jaguars or beavers your coins will be tested and you will be offered less then spot.
It has a large collectors base, and presently the proofs from years of lesser mintage readily sell for substantially more then their spot value even taking the price of gold at the time they were produced into consideration.
 

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WaveHiMike said:
The 2006 Gold Buffalo Proof will increase in value more than just it's gold value? That's why it's a good idea to get it?

And also I'm in Canada, so I would likely have to order it from the US, which means more fees to pay, is it worth it even with those extra fees? Where should I get it too?
Click to expand...

Gold Buffalos | Buy Gold Values & View Gold Prices | APMEX

about $1229 a piece right now.... The proofs cost more. Yes, I've sold 2008 and 2007 proofs recently for substantial premiums above todays melt value.
 

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You guys will all find out when you go to sell and will remember this thread... If you feel better paying a premium over spot gold for a pretty billion coin, then that is what you should do. Good luck everyone... :)
 

masterjedi said:
You guys will all find out when you go to sell and will remember this thread... If you feel better paying a premium over spot gold for a pretty billion coin, then that is what you should do. Good luck everyone... :)
Click to expand...

As you have already found out, that our job is to get as much gold or silver in as premium form as possible for as little as possible from people that don't have the capacity to understand or negotiate markets.
If you sell valuable numismatics for rent or gas money that is exactly what you will get.....
 

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WaveHiMike said:
The 2006 Gold Buffalo Proof will increase in value more than just it's gold value? That's why it's a good idea to get it?

And also I'm in Canada, so I would likely have to order it from the US, which means more fees to pay, is it worth it even with those extra fees? Where should I get it too?
Click to expand...

And by the way, your welcome.
 

Thanks for the replies guys. For some reason I'm having some computer issues so I'm not exactly sure what's working right now so I'll have to come back later
 

It depends on why you are buying gold. If you plan on selling it for melt someday, buy the Maple. But if you are collecting, get the cougar. That is a good looking coin.
WaveHiMike said:
Which should I get?:

View attachment 1224152$1615View attachment 1224154$1600

Is $15 extra worth it to pay for a low mintage "special" series coin in the hopes that it will go up in value more than its melt value?
Click to expand...
 

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