Physical Gold Coins IRA – Gold is one of the accepted means of payment worldwide. It has been like that for over a millennium from the ancient times to the preliminary and contemporary times.
Before the invention of gold securities like ETF’s, stocks and bonds gold bullions in form of bars and coins where the only gold items traded in the gold market. It has been a major source of financial institutions income.
Anything that is as valuable as gold needs safe keeping, this created new means of income for financial institution and gold production companies. They provide secure facilities for people who can’t afford to own a personal security volt.
In the medieval times, it was the gold keepers who lent it to individuals for a fee. The gold market has been generating a positive financial buzz for years now.
What are the types of Physical Gold? [Physical Gold Coins IRA]
Physical Gold Bullion usually occurs in two forms. They include:
1. Gold Coins.
2. Gold Bars.
The difference between the both is the amount of gold used to produce them and the size. The bars usually contain more refined gold than the gold coins.
The gold bars weigh more and cost more than gold coins because of the amount of gold used to produce them and they are usually stored in large quantities in gold reserves in a countries central bank.
Gold coins on the other hand is made completely with gold in form of a coin. Gold coins currently aren’t used in day to day financial activities due to their nominal value against currencies all around the world.
They are usually used as a legal compensation for previous days mostly to settle creditors over large sums of debt. Although gold bars are mostly contained in reserve vaults of central banks, there is still a sizeable amount of gold coins present there.
This shows you that gold coins are also important savings and also it doesn’t attract more attention as gold bars.
Why Should I buy Gold Bullions In Form of Coins? [Physical Gold Coins IRA]
If you know how important it is to own a gold coin, you will understand why you need to invest more in gold bullions. The benefits include:
- Hedge against economic certainties: Investing in gold coins provide insurance against economic recessions that may devalue currencies, stocks, shares, bonds and prices of goods in the long run and leave you with almost broke after making financially stable decisions. The shift or swerve in the direction of the world is most times unpredictable except you are a good forecaster, a wise investment decision may be a bad one tomorrow. Buying and investing in gold coins will prevent you from encountering those worries because the gold market works against the normal economic activities market. When there is a drop in oil price or drop in the stocks or bonds of multinationals, there is usually a drop in the value of a currency and also there could be inflation. Gold works in the opposite direction, during this period the price of gold is most likely to increase.
- It is easy to trade: The weight of a gold coin ranges from 0.0005kg to 0.05kg which is very portable and mobile. It is easier to carry about without being noticed compared to gold bars of about 12kg. The cost of single coin is usually higher than a bar.
- It is easy to keep or store: The size of the gold coins leaves you with little or no burden of where to safe keep. It can be kept in hidden places without anyone realizing it was there. It is also easier to conceal than heavy gold bars.
- It is indestructible: It cannot rust or destroy, it remains the same way even if it is exposed to conditions like air, water and other moistures that affect other metals and alloys. There is no fear of it losing its value or corroding.
- It has a high numismatic value: The size of a coin is usually deceitful. If you get a gold bar and a coin, ask an individual to pick the most valuable one. They will always go for the gold bar because of its weight and size but it is not so gold coins are usually more expensive than gold bars because they have a high numismatic value.
- Portfolio Diversification: Having only Gold Bars in your portfolio has never been the idea of the top renowned investors. They always move to diversify there possessions into Gold Coins and Gold Bars. Acquiring Gold Coins is a major advancement to your Gold portfolio. Having a portfolio of Gold Coins and Gold Bars is totally much better than having just one. There should always be room for diversification. This is a rule by all famous and wealthy investors.
How Can I Identify A Legitimate Gold Coin? [Physical Gold Coins IRA]
The Internal Revenue Service (IRS) knew this was going to be a problem because there are so many gold coins being offered by the brokers and gold companies today.
They advise people that the only type of coin they will accept as a body is one with nothing less than 99.5% purity.
This will enable people who are willing to invest by buying gold coins guide themselves, so they won’t be easily deceived by the people selling gold coins of a non IRS approved gold purity.
Who Sells Physical Gold Coins?
There are two places to buy a physical gold coin. It is either you buy from a local shop coin dealer or you buy online. Buying from a local gold shop dealers is more convenient because you can take a look at the gold coin before you buy, insurance cost is excluded but you get to pay more compared to purchasing online.
The good part of buying through this means is credibility, you are able to look and test for purity. Buying online is quite cheaper, you encounter insurance and delivery fees but at the end, it is more economical.
The issue with buying online is bestowing your trust on the online dealer to meet your demands without prejudice. A trusted broker can be used while purchasing online, it makes it easier. We highly approve and recommend Augusta Assets Company.
How Can I Buy A Gold Coin?
After locating a gold dealer locally or online. The next thing is payment. There are different ways of paying most gold dealers offer discounts for people using credit cards and other card means to make payment.
It is good to check if you have what it takes to qualify for those discounts. Cash payment is not something that is often seen. The quantity of gold coins you are interested in can influence how you purchase it.
Using brokers are more convenient because they an act as a middle man between the buyer and the seller, they also help you to get discounts giving the amount of gold you want to buy.
What Type Of Gold Coin Should I Buy?
It is advisable you purchase a gold coin approved by the IRS or a gold coin whose purity is not below 99.5%. Gold coins that meet this qualification and the specification include:
- American Gold Eagle: It has a purity of 91.67% but it also constitutes of 5.33% of copper and 3% of silver. It is worth 22 karat of gold, 2 less of gold coins with 99.5%. Although its purity is not up to 99.5% but it is generally accepted by the government and the IRS.
- South African Krugerrand: It has a purity of 91.67% with the remaining 8.33% of copper.
- Canadian Maple Leaf: It has a purity of 99.9%. They invented a bullion Digital Non-destructive Activation and an anti-counterfeiting technology that allows the Canadian Maple Leaf never to lose its standard in terms of purity.
- American Gold Buffalo: It has a purity of 99.9%. It has the face of an Indian man on it.
- Australian Gold Philharmonic: It has a purity of 99.9%. It has been in existence for over eight hundred years.
- Gold Britannia: It has a purity of 99.9%. It has been in existence for thousands of years.
- Gold Kangaroo: it has a purity of 99.9%.
- Chinese Gold Panda: It has a purity of 99.9% The other gold coins with a lesser purity other than the sovereign gold coins made use of other precious metals like copper to make their gold coins appearance better and prevent marks or scratches on the gold coins.
How Much Can I Obtain These Gold Coins? [Physical Gold Coins IRA]
| SN/ | Gold Coin | Price ($) |
| 1 | American Gold Eagle | 2060.13 |
| 2 | South African Krugerrand | 2035.13 |
| 3 | Canadian Maple Leaf | 2030.13 |
| 4 | American Gold Buffalo | 2055.13 |
| 5 | Australian Gold Philharmonic | 2036.13 |
| 6 | Gold Britannia | 1,853.04 |
| 7 | Gold Kangaroo | 2015.13 |
| 8 | Chinese Gold Panda | 1975.13 |
What Are The Best IRA Companies?
If you have an IRA and you are interested in using it to invest in gold coins. It is good you know about the most suitable gold IRA companies. They include the following:-
- Augusta Precious Metals Company – This company is highly recommended.
- Orion Metal Exchange
- American Hartford Gold Group
- Lear Capital
- Red Rock Secured
- Monetary Gold
- Oxford Gold Group
- Patriot Gold Group
- Birch Gold Group
- ITrust Capital Gold
In Conclusion –
Investing in physical gold bullions like gold is a wise decision. It helps hedge you against devaluation due to economic meltdown.
By exchanging about two thousand dollars for a nickel or ounce of corn removes the burden of how much that two hundred dollars will cost.
Its numismatic value is very high allowing its value to be undiminished even in years to come. Also note that if you wish to acquire some Gold Bars, the Augusta Assets Company can make that very possible for you. Thank You and Have a Wonderful Day!
Our Recommended Company to help You Get Started with Physical Gold Coins.
We highly recommend Augusta Assets Company.
