Why Should You Invest in Gold Coin Sets
Although you can easily buy individual gold coins and build your own set, some collectors will tell you that it will be more beneficial for you if you simply purchase a gold coin set. The advantages that you will get to enjoy are more than what you will get out of owning individual gold coins.
Private Investment and Non-Confiscatable Asset
First off, investing in gold coin sets allows you to enjoy an investment that is more private and an asset that is non-confiscatable. This means that purchasing an old gold coin set, examples of which are the pre-1933 American gold coins, will not generate 1099 forms and that you won’t have to give them your social security number just so you could get your hands on an old coin set. Not only can you easily create asset protection, but you can also easily protect your privacy. However, if you are going to sell gold coin sets, then you will have to file a 1099 form, especially when you sell 25 ounces or more of gold.
Aside from this, old gold coin sets are also non-confiscatable. This means that they will not be subjected to gold recall, as opposed to modern gold coins and bullions. This is because these old gold coin sets, especially the rare ones, are considered as antiques and collectibles, so the federal government won’t confiscate them in case there are national crisis.
More Value to Gold Coin Sets than to Individual Coins
Building a set is not only very time consuming as you have to look for the individual pieces, but there is also the risk that you won’t be able to complete the whole set. For this reason, gold collectors are willing to pay more for a complete gold coin set rather than to simply build it themselves. Now, if you do happen to own a set that you are willing to sell, then you could get yourself a nice profit.
If you don’t want to sell your gold coin set, then you can simply leave it as some sort of legacy to your children and even to your grandchildren. The older the set, the higher the price that it can command.
Purchasing Gold Coin Set
Before you purchase gold coin sets, there are some things that you have to consider first. One, you have to know the different types of gold coins out in the market right now like the American, European, Canadian, Chinese gold coins, etc. Most people seem to go for the American gold coins simply because they are being offered in full ounce coins as compared to the European gold coin’s unconventional amounts. For example, 1 oz American gold to 0.7867 European gold.
Two, you also have to know you budget. Once you have set a budget, only then can you choose the gold coin type that you can invest in. Gold coins as well as gold bullions are perfect for investors who have limited budget. Not only are they very affordable, but building them up is also very easy. In collecting gold coins though, you have to see to it that you have a very secure and safe place where you can store them.
Jennifer Domin is a frelance writer specializing in the topic of precious metals. She is a regular contributor to http://www.unitedrarecoins.com, a company that sells gold and silver coins.