Gold Bullion coins are a great investment to hedge against inflation. Not only are they a good investment, they also look nice and add character to your gold bullion collection. However, there are different types of coins that are available throughout the world. People have been trading gold coins for centuries although they are no longer used as legal tender they are valuable and many people collect coins because of their value. When you are looking to buy gold bullion or collectible coins there are a couple of things you can do to ensure that you get the best deal
Make an offer
Many collectors pay whatever the asking price happens to be for collectible gold coins. What many people don’t know is that a lot of dealers will accept offers if they consider them to be reasonable. This is not usually the case for gold bullion coins as they are priced to the international spot price.
Avoid alternative payment methods and pay Cash
Dealers usually offer different payment methods. While credit cards and services like PayPal may sound convenient, they have high fees that no one really like which are passed onto the consumer. Best to bring cash to the dealer, that way you can do the deal on the spot and walk away with your gold bullion.
Do your research
You should find out as much as you can about the different gold bullion coins and familiarise yourself with the spot price. Often money can be saved simply by buying your gold bullion on a day when the spot price of gold is down.
Trade your unwanted gold bullion coins in
In order to keep your collection fresh or to move to different gold bullion coins that have a higher return on investment, sell your old and unwanted gold coins that may have been gathering dust. You can take your old gold coins to a dealer and negotiate a trade, your old gold coins for some new gold coins that you may want to acquire from the dealer.
Negotiate, but not too much.
When you go to buy gold bullion, do not accept the first price a dealer gives you. Sometimes bullion dealers will accept a reduction in the sale price, however bear in mind the spot price may change against you. So, always try to negotiate for a lower price, but don’t expect too much. Margins for bullion dealers are quite low. If they are not willing to discuss a discount then start walking away and say you are going to another dealer. Dealers looking to make a sale would rather settle for a reasonable price and would stop a potential sale from walking out the door.
Politeness goes a long way
Be polite, be complimentary and respectful. If you are an easy-going, polite customer who shows respect for a dealer’s knowledge of gold bullion coins. If you treat gold bullion dealers with respect and deference, they will in turn treat you right and work harder to give you a great deal.