While I’m not a big fan of the question, it’s a question I’m asked a lot – what’s the best gold to buy?
Please keep in mind, for those of you that are buying gold, you have a unique scenario. What gold buying strategy works for one may not work for another. Due to that, there’s no “wrong” answer to the question. Rather, it’s up to your preferences.
Now that we have that out of the way, here’s my thoughts on the matter.
What Type Of Gold Do You Want To Buy?
Do you prefer to buy gold coins, gold bars, gold bullion? Personally, I love buying pre-1933 American gold coins. I’m a huge fan of the classic double gold eagle. In terms of what I’m going to pay for that gold, pre-1933 gold coins demand a premium. I know that, it’s going to cost me a little more to get what I want. That doesn’t make it wrong, but it’s something I have to deal with.
I have a lot of friends that only buy American Gold Eagles. For starters, they can buy a gold American Eagle for a few dollars over spot. Two, American Gold Eagles are very recognized, they’re also very abundant. For those reasons and more, it’s a super popular gold bullion coin to own.
What’s Your Specific Gold Buying Plan?
If you’re one of the many gold buyers that is trying to find gold at the best possible price, you’re likely shopping around for that special deal. You’re not going to find gold specials at your big gold bullion dealers. If you’re lucky, you may find a 1/4oz gold coin at spot, rarely will you find the gold bullion dealers running specials on 1oz gold coins.
This is why you want to have a gold buying plan – it can be as simple as you need it to be. Personally, if I can’t find a gold coin, gold bar, or gold bullion at the price I need, I won’t buy it. The same is true with silver bullion. It has to be a certain price or I’m not touching it.
Fortunately for me, I know several awesome LCS (local coin shop) where I can buy gold at a good price. You need to make a plan and stick to that plan.
Finding The Best Deals On Gold
If you’re buying gold on eBay, or at the big retail bullion stores, take the time to shop around. You’d be surprised how much money you can save buying gold, which means you’re going to have more money to buy more gold.
If you’re located anywhere near The Colony in Texas, be sure to visit KC Gold, Silver & Rare Coins – they have the best deals on gold, they’re always buying gold too.
It’s well worth taking the time to make a few phone calls to find the best possible deals on gold to buy. If you can do that and stay away from eBay and any other platforms that have gold priced to high, you should be able to find some great deals on gold.
There’s A Lot Of Different Types Of Gold
Look at all the different things that contain gold;
- Gold bars
- Gold coins
- Gold bullion
- Gold watches
- Gold chains
- Gold bracelets
- Gold tooth
- Gold spoon/fork
While gold coins can hold a high premium, scrapped gold jewelry does not hold a high premium. So if you’re trying to buy gold at the best possible price, old scrapped gold jewelry is going to be a good route to go down.
To each of you – your gold purchases should fall in line with your plan.
It all depends on what gold you like to buy best, and again, there’s no right or wrong answer here.
