Seller Beware! Avoid buying these types of gold!
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- Опубликовано: 29 июн 2024
- Seller beware! Avoid buying these types of gold in the first place in order to avoid future headaches when you come to decide to sell them.
Disclaimer: this video is not intended as financial advice but only to serve as a guide to buying gold, most especially for people who are planning to buy their first gold coin or bar. Do not make the same expensive mistake that I have made in buying gold. Please enjoy the video!
Here is the link to U.S. Mint's information about the American Eagle gold coin:
www.usmint.gov/coins/coin-med...
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Interesting discussion from a Canadian point of view! In most of US, I'm much more likely to get over spot for my AGEs and probably only spot for my Maple Leafs.
@@getx1265 USA is, in my opinion, a good place to hold gold and silver. When you come to sell, you get spot price (the least).
Here in Calgary, Alberta, Canada, you don’t even get spot price for a 1 troy ounce gold Canadian Maple Leaf, which is an irony considering it is the “coin of the Canadian realm”.
Thank you for sharing your experience. Have a great day!!!
@@user-jx4om8yp7e You are welcome buddy! I wanted to share this information to everyone so that one can make a better purchasing decision if one decides to start stacking gold and silver.😎
I’m sorry to hear about your experience with those gold buyers. I would drive to the states and sell it there. Most local coin shops in the U.S. will pay at least spot and usually a little more for American gold eagles.
@@jackmorton8776 I appreciate the comment brother. Yeah, that I am considering. As I had mentioned in the video, it’s brutal here in where I reside.
If you buy, premiums are high; if you sell, selling price is rarely at spot.😳
Really well done video bro. Keep it up!
I greatly appreciate the appreciation brother!👍
Just one of the reasons why gold as a "store of wealth" is nonsense. They are more than happy to SELL you an American Eagle at spot + premium, but they won't buy it back even at spot price? I fail to see how value is preserved.
@@joeashbubemma You have a great point there buddy. As I had mentioned in the video, in where I reside here in Canada, coin shops and gold dealers are stingy (not all though, but a lot of them).
That is at least what we are hoping for, to “store our wealth” through the years. One thing is for sure, the gold and silver game is not for everyone.
It does become a mental liability if your buying and/or selling price expectations aren’t met.
Thanks a lot. Just because the gold eagle coin is more popular, they sell it for more and get it for less. I was not aware of that.
You are most welcome! Knowledge is power. I have learned that the hard way as well, but it was a great eye-opening experience.👍
You should be stacking the gold and silver bullion in the country you live in. The RCM only sells 24k gold and .9999 fine silver coins. If you live in Canada as a stacker, I would only stack gold maples. For me living in the US, I have converted a majority of my gold and silver to eagles. I have recently found Filipino gold commemorative coins though 😉that I like and search for. Keep stacking and keep learning! Great vid!
@@johncastillo5790 Thanks for your comment brother! Yes I highly agree with what you’ve said. If in Canada, stack Canadian bullion, if in USA, stack American bullion, England, English bullion, Australia, Australian bullion, and so on.
You mentioned Filipino, I am Filipino! It is very rare to find Philippine commemorative bullion here in Canada. Maybe if I am able to visit Philippines, I will hunt some Philippine gold.😎
If your guy wants to melt it you have the wrong guy. This coin is a store of value so to say that they are going to melt it its to rip you off. No dealer will ever melt this coin.
Also that coin has 1 ounce of pure gold in it. This is why it weigs more. Even the Krugarand has 1 ounce of pure gold. They all have an Exact ounce of pure even if its has added metals. US coins are always worth more than almost any. Maybe Spanish or Mexican can have a higher value...
Exactly. That's what I had mentioned in the video that you still get 1 troy oz. of 24K gold for American Eagle gold coins (similar with a Krugerrand gold coin) and 0.0909 troy oz. excess is a combo of copper and silver.
Plan a trip to the States. Get your money’s worth!!
@@floydrosinithejourneymanss1766 Thanks for that comment. I am thinking about that as well, as an American Eagle gold coin (despite being 22K) has a lot of pecuniary and emotional value in USA.👍 I do love the American Eagle gold coin though, albeit it does not get the same love here in where I’m residing.😵
Plus, it represents “the real money of Americans”, not just some paper fiat (play) money.😎
New sub 🎉🎉🎉
@@glenvilleashby2872 Thanks brother!💥
Why would goldco want your failing currency for precious metals and offer free silver.....
@@nobiden3134 Exactly. Fiat currency is worthless.
Sell to online dealer they will give you spot plus a little more. My local dealer will give you spot. I do have a relationship with them. Why don’t you just cross the border into the USA and try to sell your coins?
@@TheRealWalkingJourney Thanks for your comment brother. Yes, I am thinking about that and considering going to USA to sell some gold and get my money’s worth.👍
Also I am planning to contact online dealers who may possibly give me better pricing.👌
New friend and Sub here 🎉
@@johnnyb3126 Thank you brother! I hope you gained something from the video.😎
What you have run into is a bunch of BULLSHIT ARTISTS in Canada !
In the U.S., Gold Eagles sell for a premium over spot, and are more
exchangeable than K-Rands or Maples because they are U.S. Gold
Money, and thus are not tracked for tax purposes. Selling them is
a currency exchange, and there is no IRS paperwork involved.
The same applies to U.S. Silver Eagles, and to a certain extent,
pre-1964 U.S. Silver coinage.
@@paulrward Yes brother I highly agree with you. Here in Canada we’ve got crisis actors, inspired by the drama teacher himself, J. Castro Trudeau!😎