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.

Know better? Leave your own answer in the comments!

Tags: , , , ,

How long will the U.S. Mint keep the American-Buffalo 24 karat Gold Coin sales halted?

June 4, 2011 · Posted in Buying Krugerrand Coins · Comment 

Question by Honey_B: How long will the U.S. Mint keep the American-Buffalo 24 karat Gold Coin sales halted?
The demand for gold is rising fast because the U.S. economy is tanking. If coin dealers are out of all American Gold coins including American Gold Eagles too, would you buy a Canadian Maple Leaf or a South African Krugerrand? http://www.huffingtonpost.com/2008/09/28/us-mint-suspends-sale-of_n_129960.html

http://latimesblogs.latimes.com/money_co/2008/08/gold-market-bul.html

Best answer:

Answer by b_plenge
It's not just happening in Gold. Silver bars smaller then 100oz are difficult to find and have a premium be charged on them because of their small size.

With the US bail out and the European bail out people are switching what they can into precious metals as a hedge against inflation.

Add your own answer in the comments!

Tags: , , , , , , , , ,

Next Page »