Summary
The article summarizes a video providing a buyer's guide to purchasing gold coins and bullion.
It covers recommended coins for US buyers like the American Gold Eagle and Buffalo, popular coins internationally like the Canadian Maple Leaf and South African Krugerrand, factors impacting pricing including spot price and premiums, where to buy from local coin shops or online dealers, fractional coin options, and storage in capsules and tubes.
Key details include one ounce US coins having $50 face values, new buyers focusing on bullion coins over collectibles or numismatics, the Gold Eagle's 22 karat gold alloy improving durability versus the Buffalo's 24 karat pure gold requiring extra care.
No specific purchase decisions, volumes or pricing targets are explicitly mentioned.
Chapters
Introducing Purpose of Providing Newcomer Gold Buying Guide
00:00:31The speaker has posted many videos on buying gold before but wants to create a dedicated guide for newcomers to walk through the full process without expensive mistakes. The guide chapters will be marked in video description for easy reference.
Recommending Most Popular Investment Grade Gold Coins
00:01:02 In the US, newcomers should focus on widely traded bullion coins like the 22 karat American Gold Eagle or 24 karat American Buffalo over collectibles. Key details on coin specs, gold purity, mintage history and aesthetics are covered.
Outlining Other Popular Government Gold Coins Internationally
00:03:29 Besides the flagship US coins, other well known options include the Canadian Maple Leaf, South African Krugerrand, Austrian Philharmonic, Chinese Panda, British Britannia based on the buyer's location and preferences.
Explaining Spot Price, Premiums, and Final Cost
00:05:49 The fluctuating daily spot price of gold plus a reasonable premium, around 5% for coins, gives the final cost. Premiums vary based on supply, demand, type of coin and payment method, with credit cards having higher fees.
Comparing Buying Options Between Local Coin Shops and Online Dealers
00:07:35 Both venues have tradeoffs - local stores have personalized service but higher prices and limited inventory while web dealers offer wider selection and lower costs but less guidance for newcomers.
Recommending Fractional Gold Coins for Smaller Budgets
00:10:45 Besides one ounce coins, smaller fractional sizes like 1/10 oz are available but have higher percentage premiums. Only the Gold Eagle comes in fractional sizes - other coins require different options.
Explaining Storage and Handling of Gold Coins
00:13:20 Coins should be kept in protective plastic capsules, tubes if accumulating more, and stored securely in a safe or safety deposit box, especially for soft 24 karat gold.