Get The Info On Using The Internet to Buy Gold Eagle Coins From The Experts At Gold-Eagle.org

February 25, 2010 – While everyone loves to find a bargain, buying Gold Eagle coins online is not the best way to find one. With something as valuable and expensive as gold, the number of people searching online for a good deal will likely only be exceeded by the number of people trying take advantage of them, even on reputable websites like eBay and others. For this reason, it is better not to buy “bargain” coins online.

Van Simmons, President of David Hall Numismatics says, “Bargains are a seldom-encountered exception to the day-to-day reality of the rare coin marketplace. I’m defining a bargain as a purchase that can be immediately resold for a profit of more than 20%.” Using his definition, a one ounce gold coin would cost you at least $1,105.70, which is the current spot price of gold. If you found that same coin online for $875, it would seem like a bargain or a “rip.”

Before buying a coin like this, there are several things to consider. American Gold Eagle coins are highly regarded as one of the finest gold bullion coins in the world due to the guarantee of the US government as to its purity and gold content. The gold market is highly controlled and someone possessing American Eagles could get a least spot price in a number of locations. Why would a legitimate seller take less than the price he could get from any reputable gold service?

One big reason these sales don’t work is dishonesty. A seller that is willing to take substantially less than the value of a coin is very possibly either a thief or a counterfeiter. Someone will to make a quick buck in spite of the opportunity to make more probably either has a coin that isn’t his or a coin that really has little value; sadly, the only way to find out is to have it in hand, and when you do, it’s too late to do anything.

Although there are ways to reduce your risks, the best thing for an investor to do when buying Gold Eagle coins is to use a gold exchange. Because their reputation matters, exchanges are more likely to be listed with the Better Business Bureau or similar organization, use third-party gold graders and maintain very high standards of customer satisfaction. Instead of bargains, these companies can offer fair prices that are frequently close to the spot prices due to discounts they receive from the high volumes of coins they buy and sell.

An old saying that applies very well to purchasing discount gold is, “If it seems too good to be true, it probably is” Instead of attempting to buy cheap Gold Eagles online, it is a better proposition to buy reasonably price coins from a reputable gold exchange and get a fair deal instead of a rip. 

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Joshua Harris

Senior Staff Writer - Gold-Eagle.org