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Cheap Gold Coins

When Cheap Gold Coins Aren’t Cheap

To some investors, looking for cheap gold coins sounds like a smart idea. Find a low priced coin, buy it, and sell if for a big profit. The problem with this theory is that it usually backfires. Thanks to professionally graded coins, a buyer doesn’t have to find out the hard way when cheap gold coins aren’t cheap.

Today’s certified gold coins are professionally inspected either by the Professional Coin Grading Service or by the Numismatic Guaranty Corporation. The companies rate the quality of coins based on the 70-point Sheldon Scale. This system gives coins an exact rating based on wear, color, damage and a variety of other factors. After coins are graded, they are sealed in a protective case and identified for future reference.

This wasn’t always the case. In times past, collector’s could find low cost rare coins with ratings like “very fine” or “uncirculated” and think that they just bought that elusive “cheap gold coin”, only to find out when looking to sell that it was indeed an inferior coin and worth less than what they paid.

This unethical practice is eliminated, thanks to certified coin rating by PCGS and NGC. An investor who buys a 65 grade, 1932 Double American Eagle will have a 65 grade, 1932 Double American Eagle to sell when he or she is ready, resulting in a $120,000 value and not something much less for receiving an inferior grade. This allows investors to own profitable coins and avoid getting stuck with cheap gold coins. 

Shannon King

Senior Staff Writer – GoldSilver.org

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