How To Buy Gold And Silver Coins Without Getting Scammed

Are you looking to buy gold and silver coins but not sure where to start and worried about getting scammed?  Well it’s a valid concern because there are a lot of unscrupulous companies out there looking to take advantage of new precious metals investors such as yourself.

When buying gold and silver coins as an investment, here are THREE important guidelines you need to follow…

1.  Do Not Buy Numismatic Coins (Fools Gold For An Investor)

shutterstock_320800490Numismatic coins are collectibles that are valued for their rarity and not their precious metal content.  Just about all numismatic coins are worth way more than the actual metal content and are terrible investments.

Shady precious metals dealers always try to push new investors into buying numismatic coins by building a false value story around their rarity and demand. Why? Because they will charge you a very high premium and make a lot more money than selling you legitimate investment grade coins.  

This reminds me of one of the reasons why I can’t stand Glenn Beck.  Using his radio show as a platform back in the mid 2000’s, he herded thousands of new precious metals investors to buy irrelevant, over-priced numismatic coins through his affiliate Goldline.  

BeckGoldlineGoldline was eventually charged with fraud for lying to consumers about how great of an investment their antique coins were to hedge against inflation.   Investigators discovered that their coins were so overpriced, gold would have to triple in value just for the investors to break even.

This is one of the most public examples of unscrupulous dealers taking advantage of newbie investors but buyer beware, there are a lot of these type of companies out there.  

CLICK HERE to download my list of the best online dealers to buy gold and silver coins fast, cheap, and without getting scammed.

2.  Buy Investment Grade, Recognizable Coins And Rounds

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I don’t know about you but I’m buying gold and silver coins as an investment, protection against inflation, and God forbid if it ever gets bad enough, survival.  If you’re a prudent investor like me, then you need to only buy investment grade, bullion coins and rounds that are widely used and recognizable.

Investment grade bullion coins and rounds are 92% to 99.9% gold or silver, manufactured year-to-year, and do not carry a high premium over the metal’s spot prices.  Spot price can be thought of as an “industrial wholesale price” that changes all the time based upon the daily market value of gold and silver.  

Although you’ll never find a dealer selling gold and silver coins at spot price, and if you do please let me know, a smart investor will always buy as close to spot price as possible.

Gold and Silver Coins To Buy…

  • American Gold and Silver Eagles
  • American Gold Buffalo
  • Canadian Gold and Silver Maples
  • Austrian Gold ans Silver Philharmonics
  • South African Gold Krugerrand

 

American Gold Eagle Coin (1 oz)

American Gold Eagle Coin

American Silver Eagle (1 oz)

American Silver Eagle (Fine Silver 99.9% content)

Canadian Gold Maple Leaf

Canadian Gold Maple Leaf (Fine Gold 99.99% content)

Austrian Gold and Silver Philharmonics

Austrian Gold and Silver Philharmonics (99.99% gold or silver content)

South African Gold Krugerrand

South African Gold Krugerrand (92% gold content. 22 Karat)

Coins, like gold and silver American Eagles, are minted by a sovereign government and considered the highest grade and most trustworthy forms of bullion to buy.  They’re good to hold as investments because they are highly recognizable and desired.   

 

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Fine Gold and Silver (99.99% metal content)

CLICK HERE to download my list of the best online dealers to buy gold and silver coins fast, cheap, and without getting scammed.

90% Junk Silver (pre 1965 half-dollars, quarters, and dimes) is another option highly recognizable and regularly traded.  (That’s right, U.S. currency was actually minted with real silver at one time).  

Although these silver coins are no longer produced, unlike numismatic coins their value is strictly based on the silver content and is one of the cheapest ways to buy physical silver. 

3.  Buy From Trustworthy, Reputable And Accredited Dealers

Whether buying coins, rounds, bars, or any other bullion, be sure to always buy from reputable dealers who actually serve investors and not just trying to rip them off.

Selling fair priced bullion gold and silver coins is not a very lucrative business…if done honestly.  So don’t buy from dealers with lavish television or radio ads.  Because if they’re running an honest precious metals business, they shouldn’t have that kind of money to spend and consider it a major red flag.  

shutterstock_50363383Greedy precious metals dealers is one thing but even worse are the criminals out there claiming to sell 99.9% fine gold and silver but may be nothing more than practically worthless silver or gold plated brass.  This is why I never buy through sites like eBay… you just never know.

Counterfeit coins can be tough to identify, even for experts, making it even more crucial to buy from a reputable, established precious metals dealer you can trust 100%.

Did You Find This Post Informative or Useful? If so, I would greatly appreciate it if you commented below and shared on Facebook or your favorite social media platform. 

Dallas-Piscopo-FaceDallas Piscopo

Email:  dp@aztecgoldsilver.com

PS: To get my list of the best online dealers to buy gold and silver bullion fast, cheap, and without getting scammed… CLICK HERE

Meet the Author

Dallas Piscopo

I am the founder of Aztec Gold and Silver and a self-taught precious metals investor helping people to become modern-day fiat currency alchemist transforming paper money into true wealth and financial stability through gold and silver investments.

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