There are other trusted mints out there to buy from that I did not list there, but I have the main large trusted mints in that article. Why is it important to buy trusted gold coins like the maple leaf? Because it is Canadian and you like Canadians, like me, eh. Ok, that is a like joke, eh.
Some Canadians can be just as crooked as the next guy. The thing with a coin that you do not recognise is; how do you trust the metal in the coin from the face? You can’t for the most part, but bullion coins like the maple leaf have a .999 purity of the metal . This is good to know because, if you are going to shell out $1200 dollars of hard earned money, you need a coin that can be resold again with ease if you need or want to. You do not want to pay the 1,200 dollars on a coin that is only 80% gold when you could have got the one that is .999% pure.
So when you buy gold in one ounce pieces or larger, there is a greater chance that they could be just plated and lead filled coins. You would want to avoid those for sure. Buying gold from a reliable source is the next most important. If you are of a nervous type, you could buy smaller than an ounce coin, such as the quarter of an ounce coin or the10th oz gold coin. The Canadian maple leaf coin is a great one that you can get in fractions of an ounce. Take your coin, get it authenticated and tested at a jewellery goldsmith. If it is real gold, you can be a little more confident to buy that company’s larger ounce bars, coins, or whatever you fancy more of. Now if you are an expert at this and you know what you are doing, just carry on.
I must say to the first time buyer, there are lots of nice coins out there to choose from. Just don’t look so hard for the best price that you end up with a fake. You sure would regret that. If it is the real thing, I hate to break it to you, but you’ll have to pay the real price. No true gold dealer is dumb enough to sell you gold below spot price, and if he sells it at cost they will not be in business long, that is like a van on the curb, they will not be there when you return. Their price will almost always be above the spot price, because the dealer that buys gold ounces to sell to you, does not buy gold at the spot price. The dealers have to buy the gold above spot price. If they buy gold wholesale, the mint they buy from still has to purchase the raw gold from the gold mining company that mined the gold out of the ground in the first place. Now you could buy gold at spot price by trading online commodities, like Forex trading, if you like that kind of stuff. It is kind of like trading stocks with no physical delivery of the commodities you trade, you get like an I.O.U. and some believe that is with a wink, wink.
So to sum up the matter, if you are new to gold buying, choose coins like the one ounce Canadian fifty dollar gold coin. If holding the raw metal in your hand does not interest you, then look around for what might catch your fancy in the upwards moving gold industry.