Gold Coin Discounts
New people to coin investing quickly learn that it is not a cheap money-making endeavor. With gold prices again creeping towards $1,150 per ounce, finding gold coin discounts is an appealing option for many. If you are one of those people, this is a good place to some honest advice.
Very few gold coin discounts exists. With the exception of some volume discounts, bullion sells at its gold spot price; a dealer can then charge a commission, shipping and additional commission if the gold is later sold. These charges can add up quickly and affect the profitability of your purchase.
For example, imagine that your gold exchange charges 7% for purchases and sales plus $25 for shipping. If you buy a 1 ounce coin for $1,000, it will have cost you $1,095 once you pay for commission and shipping. If the price goes up to $1,100, you may think you made a $100 profit, but after you pay another $70 in commission to sell it, you have spent $165 to earn $100…your $100 profit is really a $65 loss.
The best way to find gold coin discounts is to concentrate on quality and use a reputable gold exchange. Goldsilver.org is part of the Certified Gold Exchange, a well respected gold exchange with a great reputation for helping its clients. Depending on the quantity, the Certified Gold Exchange does offer volume discounts, free shipping and no fees to sell gold that was purchased through its company. Quality merchandise, excellent service and competitive rates create true gold coin discounts for the smart investor.
Senior Staff Writer – GoldSilver.org