Is Universal Coin & Bullion a reputable company?

July 18, 2011 · Posted in Buying Krugerrand Coins · 2 Comments 

Question by goro: Is Universal Coin & Bullion a reputable company?
I recently bought some gold in the form of Napoleon III 10 franc coins from Goldline and now realize that I paid way too much in commissions (the "spread"). It is my fault for not doing enough research, and thankfully I didn't invest too much, but I'm now weary of buying more gold/precious metals after getting burned. Does anybody have any experience with Universal Coin of Beaumont, TX? They advertise every month in American Rifleman and are endorsed by the NRA, but I'm not sure that means much. I definitely learned my lesson and will be sticking to bullion and bullion coins which track the price of their respective metal, and remove the guesswork of the numismatic premium that a novice buyer like myself knows little about. (Actually I had called Goldline with the intent of buying Krugerrands but stupidly allowed myself to get talked into the higher commission European coins on the basis of the "government can take your bullion" hard sell). Anyways, if any of you have used Universal and have had good (or bad) experiences with them please let me know if you would recommend using them. Are their prices reasonable? If there is a better, cheaper way to buy physical metals please let me know that as well. Thanks in advance for your help.

Best answer:

Answer by Tom S
Also be extremely wary of selling gold, silver, jewelry, and coins to the numerous "We Buy Gold" scam houses. They pay 1/5 to 1/6 of the real value of the bullion.

Amd no, the government can't take of sell your bullion. if you want to invesat in Gold and "ride" the fluctuation in gold prices, then consider buying gold stock. One such fund has stock symbol GLD and trades on the Dow Jones. it has 57 billion in market capital. The price exactly follows the price of gold.

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Dear Financial and Legal Gurus?

July 14, 2011 · Posted in Buying Krugerrand Coins · 1 Comment 

Question by Scott M: Dear Financial and Legal Gurus?
If I was to hold on to physical, investment grade 24k gold coins, such as the American Eagle or Canadian Maple leaf, is this liable to be appropriated via some sort of future lawsuit? I would be holding on to them for retirement.

From my very limited understanding, IRAs/401(k)s are ineligible to be seized through a lawsuit. I'm aware there are IRAs that are focused on precious metal, but I have a feeling you wouldn't be able to physically hold on to the metal, as they would be stored elsewhere.

South African Krugerrands, the current coins I'm looking into, are ineligible for these IRAs as they're only 22 karats (they're fortified with a copper alloy). Also from my understanding, Krugerrands are the only gold coins valued on the content of its gold, rather than the face value printed on the coin. So they're really the only coins I'm interested in investing in.

Anyone have any insight?

Best answer:

Answer by CHICKENHAWKHUNTER
GOLD IS GOING TO GO DOWN 50% IN THE NEXT 3 YEARS...SO I WOULD NOT INVEST IN GOLD.

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