BGASC means Buy Gold and Silver coins. Since the price of precious metals is not directly related to the stocks, many people buy them when things get rough. When there’s a recession around the corner, people tend to park more of their wealth in lesser volatile assets like gold and silver.
Gold and silver coins are not just a currency; they are also treated as collectibles and investments. With the help of reviews online, you can find a reputable dealer like BGASC, where you can buy and sell your holdings. To ensure that you’re not buying overpriced products, you might want to know more tips on precious metals.
Before investing, you need to know what to buy or where to get the coins. The American Eagle, African Krugerrands, and Canadian Maple Leaf are some of the best options. Choose the companies that have been the longest-running and the most trustworthy in the industry.
Most of the time, they are the ones who have secure storage facilities where you can keep the coins. Others have IRS-approved depositories if you decide to add gold and silver to your portfolio during volatile times.
What is a Spot Price?
Some people have discovered that they can’t find any sellers of coins that offer the current spot price of the precious metals in the market. The reality is that the spot price is only a reference at a given point, and this can change every minute. Some mark-ups will contribute to the price, so even if you’ve found the best platform to do the transactions, it’s still best to make sure that you buy low and sell high to make profits.
The term spot price is the current cost of buying a single ounce of precious metals. They can fluctuate according to supply and demand in the world market, and many dealers are setting their own precious metals, and they host their own prices according to how they perceive the value of their coin on their website.
Spot prices don’t generally include the other costs associated with the manufacturing of gold and silver. Naturally, the others will have to do mark-ups close to the spot as much as possible to make profits. The key here is to be vigilant with the spot prices, and you need to buy when you see a low demand and sell when it becomes high once again.
Finding the Right Platform
There are a lot of dealers in the market today where traders and hoarders do their buy and sell transactions. You might want to find a company like the BGASC with decades of experience. These are the ones who have management that has specialties with numismatic coins and collectibles. You might see a collection of carved nickels, junk silver, bars, bullion, and many more with them.
With many dealers online riding the bandwagon and the popularity of precious metals, you need to be careful where you’re investing. Carefully check each company and see the BGASC Reviews Customer Testimonials and Complaints to get an idea of how they handle their customers. Very good reviews on many websites with a few negative feedback will mean that they are the ones who will do a great job in handling transactions or addressing complaints.
What to Buy
Krugerrands, Austrian Coronas, and Mexican Pesos
If you want to invest in foreign coins, then consider the Coronas, pesos, and Krugerrands. They generally cost less than the standard American gold eagle series, which is still being minted in the US nowadays. The 22K South African Krugerrand typically contains pure gold that weighs 1 troy ounce. The Austrian Corona has 90% purity and holds about 0.98 oz. of fine gold. The 50 Mexican peso is a re-strike from the Mexican Mint, and these are the cheapest that you can buy if you’re into gold coins.
Older Foreign Issues than American Eagles
Modern-issued coins like the Nuggets, Philharmonics, Maple Leaves, and American Eagles may come in tenth-ounce, quarter-, or half-ounce coins. They have a higher cost, and many people are looking for them. The premium mark-ups can be as high as 20% with the smallest ones.
Generally, it’s best to choose the Krugerrands or other foreign options because gold is gold, and it makes no economic sense to purchase more than what they value. You can learn more about Krugerrands on this page. Other options like the Netherlands guilders, German marks, and Swiss francs have higher liquidity but lower costs in general.
It’s highly discouraged to purchase the gold coins that are not currently in circulation in the country, like the Saudi guineas or Iranian pahlavis. If they can’t be sold, that just means you didn’t make a profit or an excellent bargain.
Recommending 90% Silver Coins
You can find dimes, quarters or half-dollar minted silver made before the year 1965. It’s worth noting that the 90% doesn’t include the silver dollar. With some platforms, 4 quarters will mean it’s equal to a $1 face value. Some will offer you a price of $20 per face value dollar.
This face value can be in the form of two half dollars, four quarters, or 10 dimes. They can contain up to .710 oz. of the precious metal, and you can buy bags with a $1000 face value. This is often a highly recommended purchase because it’s great for beginners. It’s an affordable, most recognized, and divisible form of the precious metals traded around.
Getting Pure Gold Coins like Austrian Philharmonics
Know that gold is one of the most malleable and ductile metals out there. It can scar and scratch easily, especially if you cannot handle it carefully. Generally, it’s mixed with silver or copper so they can harden and withstand changing hands. Many customers might naturally think they are receiving a bargain, but they eventually find out that the coins sell less than what they have paid. The 24K is not worth it, but it has pros and cons to consider. If you know how to handle them, then they might be the right one for you.