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Where to buy Gold coins from???


Fraggle

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Hi everyone,

I am new to this forum and new to the prospect of purchasing gold and silver as a long term investment , a quick question that has probably been asked a million times before! I am currently in Germany and i am looking to buy some gold coins, i have been looking at Celticgold AG website in Frankfurt and European Mint websites, has anyone had recent experience with these companies? Are they safe and reliable?, how do i know that the coins are real? Do they come with mint certificates?. I have seen online  liquid testing kits that can be purchased, has anyone ever used these?, or can someone suggest one to purchase? Or is there a better way to test gold purity?.

Please note that i am very new to this whole prospect and any information will be gladly received.

Cheers.

 

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18 minutes ago, Fraggle said:

European Mint

Definitely an excellent one to start - many of us have purchased LOADS of stuff from them and apart from an odd hiccup they are IMHO excellent to deal with

AND Welcome aboard TSF  - best place to be, for knowledge , advice and fun in the PM world

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Welcome to the forum Fraggle. 

21 minutes ago, Fraggle said:

I have seen online  liquid testing kits that can be purchased, has anyone ever used these?

I wouldn’t personally use these on coins as they can be pretty aggressive. They are really meant for jewellery along with a scratching stone. There are some pretty good electronic devices on the market that can test without damaging the material. 

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Those two dealers are used and reputable.

When you start making purchases, you ought to ask any prospective dealer if they guarantee the gold is genuine. You want dealers to guarantee the gold is good gold. Then when you get the gold, keep the receipt with the gold. Some people also film the unboxing. This serves to identify who sent you the gold, and identifies the gold to the receipt. This is useful later if there is damage to the coins or the gold is found to be fake.

Test kits are good idea. You will likely buy from many places. Being able to certify the gold yourself is a good idea. Many people do not bother with this step, and instead they buy from trusted dealer. And also they do not buy "random year" coins because these may be used. Instead, they buy new coins that have gone directly from the mint to the dealer.

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Hi everyone, 

Thank you for the welcome and reply’s. In regards to buying gold and silver coins, I am based in Europe, and i plan to purchase mainly European and British coins as eventually this is where i will be selling them. Would i be safe in saying that the Austrian Philharmonic in gold and silver is widely used around Europe and easy to buy and sell along with any Royal Mint coins?.

Obviously there are tax implications when buying and selling such coins in certain countries,and Estonia looks like the best place to purchase silver for VAT reasons. Would i be correct to assume that (currently) when you go to sell your gold or silver you will incur a capital gains tax ( and VAT in certain countries) on the amount of profit you have made over the period from purchases point, and this amount is payable in line with your country of residence?, ie : you sell in Spain you pay 20% as your a resident there, you sell in Belgium you pay 0% if your a resident there?.

Again , any advise will be gladly welcomed :) 

Cheers

 

 

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14 hours ago, DoubleEagle said:

Those two dealers are used and reputable.

When you start making purchases, you ought to ask any prospective dealer if they guarantee the gold is genuine. You want dealers to guarantee the gold is good gold. Then when you get the gold, keep the receipt with the gold. Some people also film the unboxing. This serves to identify who sent you the gold, and identifies the gold to the receipt. This is useful later if there is damage to the coins or the gold is found to be fake.

Test kits are good idea. You will likely buy from many places. Being able to certify the gold yourself is a good idea. Many people do not bother with this step, and instead they buy from trusted dealer. And also they do not buy "random year" coins because these may be used. Instead, they buy new coins that have gone directly from the mint to the dealer.

Hi Double Eagle,

 

Thank you for your response on my questions, can you from personal experience (or industry) advise what is a good item(s) to purchase to verify gold yourself?. I assume when you refer to “ they do not buy random year coins because these may be used. Instead , they buy new coins that have gone directly from mint to the dealer”.  

Are these the coins i see advertised as ,  new and not in circulation ? Like i have seen on both Celticgold AG and European Mint website, ie: 2020 Austrian Philharmonic?.

Thanks to everyone who replied and welcomed me, i am just a basic member so far and can only “ like” so many reply’s!.

Cheers

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14 hours ago, trp said:

Welcome to the forum Fraggle. 

I wouldn’t personally use these on coins as they can be pretty aggressive. They are really meant for jewellery along with a scratching stone. There are some pretty good electronic devices on the market that can test without damaging the material. 

 

Hi Trp,

 

Can you advise of any particular electronic device that is generally used? , ie: brand and model?. Thank you for the reply :) 

 

Cheers

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Hello and welcome Fraggle (did you get the Jim Henson show Fraggles in Germany?)

Anyway, you've come to the right place to find out good info. As with anything, don't rush. Take the time to do some good research before you part with your hard earned cash. 

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1 minute ago, Stacker2020 said:

Hello and welcome Fraggle (did you get the Jim Henson show Fraggles in Germany?)

Anyway, you've come to the right place to find out good info. As with anything, don't rush. Take the time to do some good research before you part with your hard earned cash. 

Hi stacker 2020,

 

Thank you for the welcome :) , I think everyone has seen Fraggle Rock at some stage in their life :P. Yo must be reading my mind!, I want to do as much research and gather as much information as possible before i start purchasing gold and silver. 

With the variety of weights of coins and bullion, i am assuming that smaller weights are easier to sell ie: 1 oz coins , rather than larger  bullion bars?. Is it a good idea to hold a good mix of weights and metal types, ie: bullion and coins over time?.

 

Cheers

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1 hour ago, Stacker2020 said:

One of the things you will really have to get to understand is premiums. Once you have a handle on that you'll be able to make better decisions about whether or not fractionals are good for you.

Hi Stacker2020,

 

Can you give a brief explanation as to your statement please?, as I don’t really understand it.

 

Cheers

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Ok. Premiums are how much % you pay over the 'spot price' on any given day.

The smaller the size/ fraction of bullion  the higher the premium you pay.

Example

A 1oz 24k gold oz might be 3% over spot

A 1/2 oz might be 4 % over

A 1/4 oz 5%....and so on.

So, in the long run buying a larger weight is more economical. With silver the premiums can be much higher on all pieces.

So, understanding premiums, and their relation to spot price is very important when buying precious metals as it will effect your profits when it comes to sell. 

The premiums on bullion coins will be lower than with numesmatic (collector coins) as they tend to be standard designs repeated yearly.

As you are in Germany I would definitely stack Philharmonics, but probably not Britannias, maybe look into Canadian Maples (just my personal opinion for EU mainland stackers).

 

 

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2 hours ago, Stacker2020 said:

Ok. Premiums are how much % you pay over the 'spot price' on any given day.

The smaller the size/ fraction of bullion  the higher the premium you pay.

Example

A 1oz 24k gold oz might be 3% over spot

A 1/2 oz might be 4 % over

A 1/4 oz 5%....and so on.

So, in the long run buying a larger weight is more economical. With silver the premiums can be much higher on all pieces.

So, understanding premiums, and their relation to spot price is very important when buying precious metals as it will effect your profits when it comes to sell. 

The premiums on bullion coins will be lower than with numesmatic (collector coins) as they tend to be standard designs repeated yearly.

As you are in Germany I would definitely stack Philharmonics, but probably not Britannias, maybe look into Canadian Maples (just my personal opinion for EU mainland stackers).

 

 

 

2 hours ago, Stacker2020 said:

Ok. Premiums are how much % you pay over the 'spot price' on any given day.

The smaller the size/ fraction of bullion  the higher the premium you pay.

Example

A 1oz 24k gold oz might be 3% over spot

A 1/2 oz might be 4 % over

A 1/4 oz 5%....and so on.

So, in the long run buying a larger weight is more economical. With silver the premiums can be much higher on all pieces.

So, understanding premiums, and their relation to spot price is very important when buying precious metals as it will effect your profits when it comes to sell. 

The premiums on bullion coins will be lower than with numesmatic (collector coins) as they tend to be standard designs repeated yearly.

As you are in Germany I would definitely stack Philharmonics, but probably not Britannias, maybe look into Canadian Maples (just my personal opinion for EU mainland stackers).

 

 

Hi Stacker 2020,

Thank you for all the information, its all starting to fall into place :) . I would assume Philharmonics are the safest bet, as my long term future in continental Europe, but assume its no harm to hold a few other coins?, but the majority being Philharmonics?.

 

Cheers

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Hi everyone,

Thank you for all the information thus far, i will be planning to start undertaking purchasing of gold coins and the required equipment to safeguard my investment in the new year, and i am sure i will talking to you all again soon. I wish you all a Merry Christmas and prosperous new year and again thank you for all the helpful information on that matters.

Cheers :) 

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On 17/12/2019 at 02:38, Fraggle said:

Hi Double Eagle,

 

Thank you for your response on my questions, can you from personal experience (or industry) advise what is a good item(s) to purchase to verify gold yourself?. I assume when you refer to “ they do not buy random year coins because these may be used. Instead , they buy new coins that have gone directly from mint to the dealer”.  

Are these the coins i see advertised as ,  new and not in circulation ? Like i have seen on both Celticgold AG and European Mint website, ie: 2020 Austrian Philharmonic?

On European mint website, some of the coins have been sold back to the dealer by investors like you and me. These coins are labeled (Random Years). Those are bullion coins that are bought and owned by an investor, and then sold to the dealer later. They may have scratches and so forth. 
And yes, 2020 Philharmonic is new; they go from mint to dealer.


Testing gold can be hobby and is valuable for investments in gold coins and jewellery.

Here is Sigma Pro. Very good. Can "see" through 2mm. Because you are liking Philharmonics, this is good for Philharmonics. This tester is most accurate with pure gold coins (24k).
https://www.youtube.com/watch?v=6U8gtbMx2q0

Acid test. Buy acid kit. Scratch some metal off onto stone. Similar stone like for sharpening a knife. Apply acid. This is great for gold jewellery. You can buy kits that verify 10k, 14k & 18k. So for a gold coin, the kit is lacking because the kits available do not test for full 24k. However, the acid will still verify presence of gold.
https://www.youtube.com/watch?v=2koNEe6Kdyc

Water test (specific gravity). Gold is dense and therefore water test tests for dense metal. 
https://www.youtube.com/watch?v=vYkfIAk8AMI

Xray. There are X ray verifiers. They do not see very deeply into the metal, testing near surface. Too expensive for most people!
https://www.youtube.com/watch?v=1Fu8uLBdgcE

Magnet. Gold is not magnetic. A strong magnet is a vauable first test.
https://www.youtube.com/watch?v=F58L5Awuv8o

Scale. 1 oz gold coin 24k should weigh 31.1 grams. Valuable first test.
https://www.youtube.com/watch?v=sP69a9tZReo

It is good to test using two methods + scale and magnet. Each method can be fooled, but when using two or more tests most fakes will become apparent.

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