Buying Gold In Hampton New Hampshire.
Gold Bars, Rounds, Canadian Gold Maples or American Gold Eagles?
Gold Bars, Rounds, Canadian Gold Maples or American Gold Eagles?
You’ve made the decision to buy some gold. Now you have another decision to make: Which type of gold should you buy? Residents of Hampton, Portsmouth, Dover NH and the surrounding Seacoast area have Port City Coin & Jewelry as a resource to help navigate the gold buying process. If you are buying gold in Hampton, NH or elsewhere in the Seacoast area this guide will help you chose the right gold for your portfolio.
The most common way to buy gold is in the form of coins, rounds or bars.
Gold coins are made by sovereign mints and are legal tender that are usually stamped with face values worth far less than their gold content. For example a one ounce American Gold Eagle coin is stamped “fifty dollars” and a one ounce Canadian Gold Maple leaf coin is stamped “100 Dollars”. An ounce of gold over the past ten years has ranged from about $800-$1,900 an ounce. Gold coins are generally struck in 22 or 24K gold.
American Gold Eagles
Canadian Gold Maple Leaf Coins
Gold Rounds and Bars
Gold rounds look like coins, but they are issued by private mints and vary greatly in design and size. Gold rounds have no face value and are issued by weight. Sovereign Mints like the Canadian and Perth Mints as well as private issuers like Pamp Suisse also make gold bars but they do not have a face value stamped on them. Gold rounds and bars, like most gold coins are also generally struck in 99.99+% gold.
Some gold buyers buy only Gold Eagles, others only Gold Maple Leafs other prefer gold (you may decide to vary your purchases).
Here are some criteria that will help you decide which gold to buy:
22K American Gold Eagles (pictured above) carry the largest premium of any major sovereign mint coin. Collectors and dealers pay the premium for the assurance of the purity of the gold and the liquid after market. Buyers of Canadian Gold Maple Leaf coins (pictured above) prefer that these coins are 24K vs. 22K. Both coins, however, contain one ounce of pure gold. The Gold Eagle also contains some silver and copper making the American Gold Eagle 1 ounce coin slightly larger than the Canadian Maple Leaf. Adding other metals to gold makes the coins struck with less than 99.99% gold stronger and more durable as gold is extremely pliable and soft.
Gold rounds and bars will often sell for something less than sovereign minted coins like the American Gold Eagles and Canadian Maple Leafs. Gold bars and rounds come in many sizes, from 1 gram to one ounce or larger sizes. One ounce bars will often sell closer to the spot price of gold than one ounce gold coins, although the smaller sized bars will carry a higher premium to account for the fabrication charge.
American Gold Eagle coins are minted in 1/10, 1/4, 1/2 and one ounce sizes. Canadian Gold Maple Leaf coins are minted in 1/20, 1/10, 1/4, 1/2 and one ounce sizes. Gold coins and bars are minted in fractional and multi-ounce sizes.
While gold is often counterfeited due to its high price. Sovereign minted coins like the American Gold Eagle coins have been known to be counterfeited. American Gold Eagle coins are probably less likely to be counterfeited than privately minted rounds and bars due to harsh Federal penalties for counterfeiting U.S. legal tender.
Private mints like the Sunshine Minting Company now make their gold and silver products with anti-counterfeit marks that can help confirm their authenticity. The Canadian Mint also mints their gold coins with anti-counterfeit marks. You can minimize your counterfeit risk by dealing with a reputable coin dealer who may buy directly from private mints or obtain mint direct products, thus ensuring authentic gold products. Skilled coin dealers are also well-trained to spot counterfeits and often have equipment designed to ferret out the fakes that they may obtain in the secondary market.
American Gold Eagles and Canadian Gold Maple Leafs can be resold easily as they are among the most recognizable gold coins in the world. You may also recoup some of the premium you paid when you purchased the coin(s). This is subject to two caveats: 1. where and to whom you intend to sell your Gold Eagles and 2. the condition they are in when the time comes to sell. Some coin dealers will not pay a premium on American Gold Eagles and will only pay something close to the spot price of gold. In addition, if your gold coins are not in the pristine Brilliant Uncirculated condition in which you first purchased them, most dealers will reduce or eliminate the premium entirely. American Gold Eagles may be sold in small lots at online market places like eBay where you may find a purchaser interested in Gold Eagles that carry the dates of your coins, who is willing to pay a premium for them
Gold rounds and bars that were purchased at or around the spot price of gold may generally also be sold at or around the spot price of gold. Condition of most gold rounds and bars is less important as most gold rounds and bars have little or no collectible premium. You may find, however, that some dealers may pay under spot for some privately minted rounds or bars and a substantial percentage of gold buyers may only buy gold in the form of coins issued by sovereign mints.
Care and Storage of Gold Coins
When you purchase your gold coins, rounds or bars, make sure you buy the appropriate containers (flips, capsules etc) that will provide the protection required to retain your gold value. Improperly stored or mishandled silver can damage your gold and reduce its value if scratched or dented. Port City Coin can help you select the most cost effective containers for the gold that you buy.
The Port City Coin & Jewelry Difference
Can’t decide whether to buy American Gold Eagles, Canadian Gold Maple Leafs or gold rounds or bars? Stop in and mention this article for details.
Looking to sell gold eagles in Hampton, NH or in the Seacoast, contact Port City Coin & Jewelry.
Visit Port City Coin & Jewelry
If you are in the New Hampshire Seacoast area, visit Port City Coin & Jewelry and ask about our services and specials.
Or call 603-373-6185.
Port City Coin Jewelry is located at 599 Lafayette Rd (Route 1) | Portsmouth, NH (next to Bowl O Rama)
Call: (603) 373-6185
Visit our web site: http://www.portcitycoin.com/
See also What Type of Silver Should I Buy?