Beware: Grossly overpriced American Eagles and Buffalos
“The personal finance market is filled with slick advertisements touting gold bullion coins labeled with a superb grade or in holders with decorative, autographed inserts. These may be fine collectibles for some, but you could pay more than twice the value of the precious metal content of the coin. There certainly are better ways for investors to buy bullion coins much closer to their actual intrinsic value,” stated Barry Stuppler, president of the Professional Numismatists Guild (PNG).”
USAGOLD note: To say that we agree with this Numismatic News piece is an understatement. We have been at the vanguard warning investors about this type of offering for a number of years. We get calls almost weekly from individuals involved in one of these transactions. Unfortunately there is not a great deal we can do to help, although we might be able to help mitigate the losses, i.e. get you to break even sooner if the gold and silver prices rise. The point is to avoid this sort of thing altogether and stick with owning bullion coins as gold items that are priced at minimum premiums over the gold content.