Gold is an organic chemical element and valuable precious metal. Gold is beautiful and is used in a number of industries as gold bullion (the bulk form of the precious metal) can be smelted and forged into items including gold coins, jewelry, food embellishments and electrical wiring. Since gold bullion is constantly in demand, supply is a major factor that drives the price point and has helped elevate the metal to investor status. Consumers looking to diversify their investment strategy to include gold bullion are wise to know what they are getting into by reviewing a gold bullion buying guide as in the precious metal industry, sometimes what glitters is actually fool’s gold.
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When facing retirement, every investor looks for safety and security first. That’s why so many people invest in precious metals. Merit Financial, a highly reputable company that’s been in business for over 26 years, understands this reality better than anyone. Their seasoned account executives guide their clients through the investment process with so much care and knowledge that buying gold is a pleasure. It doesn’t matter how much or little a client knows, Merit will work with them to find the absolute best investment strategy and opportunities.
Their highly respected reputation is a great comfort and provides confidence for client’s looking for a safe place to invest their nest egg for the future. Merit removes the worry from the investment experience that has unfortunately become quite commonplace. The high degree of responsibility and care at Merit Financial is unmatched in the precious metals industry today. Due to the recent economic downturn and global financial uncertainty, many unscrupulous companies have sprung up to take advantage of novice investors. That’s why choosing a company that has a solid reputation is more important than ever. Indeed, when one’s entire life’s savings is at stake, you can’t be too careful. The high degree of sophistication and responsibility at Merit Financial starts at the top with the company’s legendary founder. To ensure the financial solvency and success of his customer’s assets, he has provided the company a staff that is the best in the business. Many companies have a staff that is knowledgeable at the top; but at Merit, even the shipping clerks are seasoned veterans. This makes certain that your assets receive the utmost care and are always safe. For instance, a shipment can not be received by anyone other than the owner. The company not only treats its clients well, it’s also a good steward locally, for the community at large – and on the national level. As a supporter of the American Cancer Society’s Relay for Life and other charitable or volunteer organizations, it is a role model for companies looking to establish a strong reputation as a caring, ethical institution. Recently, Merit demonstrated its dedication to supporting those who have served their country with the Wounded Warrior Project which has raised over $100,000 for injured troops. My father was an accountant, that resulted in me knowing that retirement my fiduciary responsibility. So, thanks to his sage advice I spend my time saving my change, buying gold and silver as an diversification strategy and trying to build my wealth. Recently I learned about something called a gold IRA and wanted to share my limited knowledge on the subject. If the son of a CPA did not know the difference between a gold IRA and buying gold I reckoned there were others out there in need of help.
My pops taught me that buying gold, buying silver and investing in precious metals is a way to hedge one’s bets against inflation. Since that lesson learned the buying gold has boomed and there are dozens of options that allow investors to join the precious metal party. Now, there is a new American gold rush going in regards to consumers purchasing physical form silver coins, gold bullion and the like. As the precious metal buying market is booming, so have investment strategies linked to gold market updates. Everyone is invited to buy gold and own some of the glistening metal, however buying gold does not an IRA make. Instead, those guidelines are delivered by the nation’s taxation authority, the Internal Revenue Service (IRS). A gold IRA is a unique entity upon itself, the device allows consumers to buy gold for retirement and add metal to their assortment of wealth. The consumer must pay cash for the gold purchase (via a custodian) and then the account manager acts as the financial gatekeeper. Those industry insiders will buy gold based on the clients’ specification and store the metal in accordance with the law; that will allow investors to add gold into their portfolios as long as they adhere to the tax laws of the land. My dad also told me never to ever mess with the IRS or I may end up in the big house, and not a luxury mansion. The rules the government agency has regarding gold IRAs are very strict, but I know better than to get creative. Although my father died way before gold IRAs became a reality, his advice still resonates with me. I have learned that a legal gold retirement account can contain a variety of U.S. gold coins or 1 oz silver minted by the U.S Mint. It can also be filled with a variety of platinum options, gold bullion,and silver bullion. If my father was alive, he would tell everyone “Investors looking to diversify into a gold IRA are advised to proceed with caution to ensure that the precious metals investment won’t piss off the IRS.” Since he is not, I am holding the proverbial torch and suggest that if you are interested in following this retirement strategy, working with a portfolio manager who is intimately familiar with the process is advised. Variety is the spice of life. It is for that reason that there are so many different types of restaurants, music, literature and more. While that is one of the reasons the United State Mint has produced so many different US gold coins, it is not the only.
That is not the only cause for the variety of US Gold Coin. Once upon a time America was nothing more than 13 colonies fighting for independence. It was during that time period when nearly any minted gold coin could be used for commerce. In circulation with the various European gold coins in use, there were actually gold coins that were minted for the wealthy using their own gold for the currency. That changed with the Coinage Act of 1792; it was that law that helped established the United States Mint and put them in charge of regulating the variety of coins out there. But wait, there is more. Since the creation of the federal authority on gold coin and currency, there have been dozens of people in charge. While some wanted to make their mark on the world by designing their own gold coins, others such as Mint Director, Robert W. Woolley, believed it was his legal responsibility to change the design of US Gold Coins that had existed for more than 25 years. Here is another for reason for so many US Gold coin varieties. Gold coins were no longer to be used as legal tender thanks to the 1933's Executive Order 6102 that made it illegal to hoard gold as a response to the Great Depression. That made the previous gold coins no longer of use, making US Gold Coins such as the Saint-Gaudens double eagle and a three-dollar piece a part of our nation’s history and another variety of US Gold Coin. Now, it is a marketing plan that fuels the recent crop of US Gold Coin options. While a gold investor may not necessarily care about the variety of US Gold Coin they have (as they buy gold thinking about purity and weight) coin collectors get excited every time a new US Gold Coin is struck. Numristics collect coins not just for the gold content, but for beauty, history and rarity; each new US Gold Coin may be of interest to them. “Buyer beware” are not just words of wisdom from Mike Brady, but an important strategy for shoppers to implement regardless of the purchase in question. No matter if you are thinking about grocery shopping, buying or car or looking for silver coins for sale, the burden of protecting one’s investment falls directly onto the consumer.
Within the precious metal industry, there are plenty of silver coins for sale. Some are centuries old, others just rolled of mint lines weeks ago. Individuals trying to navigate the sea of silver coins for sale while trying to buy need to first figure out the goals surrounding their silver investment. If you decide that you are looking for silver coins for sale as you are interested in numismatics then your needs will be very different than someone looking to diversify an investment strategy with precious metals. Coin collectors at silver coins for sale using a different perspective. That view often involves thought processes surrounding age, condition, history, number of coins minted, and even mint mistakes. When it comes time to look at silver coins for sale with intent of collection, silver content is not as an important consideration. That perspective is very different of individuals looking for silver coins for sale for silver investment purposes. When it comes to buying silver for this goal, weight, purity and silver content are the most important features as the silver coins for sale are typically being sold at a cost per 1 oz silver, not for additional factors like ornamentation, detailing or a great story. Once that decision has been made then the process of what silver coins to buy are easier. Collectors will simply make a decision on what must have pieces are worthy of their purchasing power while silver investors will more than likely focus on how many 1 oz silver bars they can afford at any particular time. Regardless of why you are looking for silver coins for sales, relying on a reputable coin dealer is the smartest buying option. Once a silver shopper expresses what their goal is in regards to buying silver, a professional coin dealer can offer advice and tips in order to narrow down the selection process. I’ve been thinking about diversifying my investment portfolio for sometime; according to my financial advisor and retirement planner, this is a good idea for everyone, but is especially recommended in times of fiscal and political insecurity on a national level and also on an international level. After doing some research, I’m thinking that I want to purchase some silver US coins. Specifically, I want to purchase some silver bullion United States coins that I can use as part of a silver individual retirement account (IRA). In order for coins to be included in a silver IRA, they need to be silver bullion and they need to have been minted in the U.S. After doing some reading at the US Mint website – http://www.usmint.gov – it turns out that only the American Eagle Silver Bullion Coins are allowed in a silver IRA. These silver US coins – the American Eagle Silver Bullion Coins – “contain a minimum of one troy ounce of 99.9% pure silver.” (http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=american_eagle_silver)  Now, I’ve also been thinking about buying some other silver US coins, as part of my overall investment strategy, not just for a silver IRA, and the U.S. Mint offers a collection called “American the Beautiful” which are five ounce silver US coins that commemorate national parks. According to the Mint’s website, “these coins are made of .999 fine silver, have a diameter of three inches and weigh five ounces.” That means they weigh more and have more silver than the American Eagle Silver Bullion coins! (http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=8305)  The Mint also produces silver commemorative coins in the form of silver dollars, and there are historic silver US coins, too, some of which are only valued for their melt value (how much silver they contain) and others that appeal to collectors because of historic value, rarity, and condition. And then there are the coins that are only 90% silver, such as the Peace Dollars, the Morgan Dollars, Washington Quarters, Roosevelt Dimes, and Jefferson Nickels.  Are silver US coins a good investment? I think so, especially if you keep in mind what kind of coins you are buying and why you are buying them in the first place. If you’re looking at diversifying your portfolio or starting a silver IRA, then the American Eagle Silver Bullion Coins are the way to go. If, on the other hand, you are looking to build a silver coin collection, there are plenty of silver US coins that can – and should – be included in that collection.
IMAGE SOURCES: American Eagle Silver Bullion Coins images: http://www.usmint.gov/mint_programs/american_eagles/?action=american_eagle_silver_proof America the Beautiful coin images: http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16564&langId=-1&parent_category_rn=48501 Silver Jefferson Nickels images: http://coins.silvercoinstoday.com/silver-jefferson-nickels/ With the holidays here once again, and the new year about to begin, many investors are wondering which gold coins to buy. Some opt for classics like the American Eagles, while others look for rare coins.
As Doug Winter illustrates in Coin Week, rare gold coins.com, there are all kinds of reasons that coins are especially valuable or rare. Sometimes coins are rare because their condition is so extraordinary. Other times, coins are rare just because there's not that many of them around. The first are called condition-oriented rarities and the second are called absolute rarities. There is even a third category which features coins that have both attributes. These are coins that have both things going on - they are both in extremely good condition and or the date is extremely rare as well. There are very few of these and there are even fewer of these that have managed to survive. Other things that go into making a coin particularly valuable are very rare date. For whatever reason there were few of them in the first place and consequently very few of them are still left. And lastly, there are certain kinds of strikes that are quite rare - some are limited editions and others might be mistakes. http://www.coinweek.com/ Collecting coins as every coin collector knows is incredibly fun as well as possibly profitable. Many investors enjoy combining their collecting bug but with their investment strategy and having the best of both worlds. Many times collecting coins becomes a hobby that starts in childhood and extends into the retirement years. Wondering what a rare coin is worth? Well, they're worth a lot. For example, the 1861 Paquet Reverse sold for $1,610,000 in 2006. There are only two such coins known to exist. Now, that my friends is rare indeed. For the rest of us mere mortals, there are the standard issue gold coins… that are collectible, and fairly valuable, but not rare. Not yet, anyway.  I have decided that I want to buy some of the American Eagle Coins. Why? Well, I’ve been spending a lot of time talking with friends and members of my family, lately, about the state of our personal finances and about the financial mess that is happening in Washington. And then, of course, there’s what’s happening in Europe, too, which doesn’t seem to be getting any better, either. We’re all worried about our financial futures and what’s going to happen to us as we near retirement. A lot of us have been looking at buying precious metals, whether we are going to round out our investment portfolios or we want to just have some metals to own as a hedge against whatever future instability happens. As for me, I’m thinking that I want to buy some of the American Eagle Coins. But now that I’ve made that decision, I now have to decide what kind of American Eagle Coins I want to purchase. Until I really started reading about these coins, I had no idea that there were so many options. According to the U.S. Mint’s website – http://www.usmint.gov – there are five different types of American Eagle Coins:  American Eagle Gold Proof Coins – these are the collector versions of the American Eagle Gold Bullion Coins and come in four weights: one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce. They are 91.67% gold.
American Eagle Gold Uncirculated Coins – these come in only the one ounce size and are also intended for collectors. They are 91.67% gold. American Eagle Silver Proof Coins – these are collector versions of the American Eagle Silver Bullion Coins and are available in a one ounce weight. They are 99.9% silver. · American Eagle Silver Uncirculated Coins – also collector versions, they are 99.9% pure silver. · American Eagle Platinum Proof Coins – these coins are the collector versions of the American Eagle Platinum Bullion Coins, come only in a one ounce weight, and are 99.95% platinum. And then there are the coins that I am going to buy: the American Eagle Bullion Coins. These American Eagle Coins are 99.9% pure gold and are easy to purchase, being available in four ounces: one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce weights. They are simple to store, are easily converted to cash if needed, and the value is based purely on the amount of gold bullion that they contain. So these are the American Eagle Coins I want to buy now and save for my retirement. | AuthorThomas is a fan of Jeopardy. He grew up watching the show with his family, and never misses an episode of the famed game show. Connect with @thomasamartine on Twitter. ArchivesCategoriesAll |
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