Precious metals like gold have been held as a valuable commodity for thousands of years. Gold can be purchased in many forms, such as gold coins, gold bars, or ingots. Today, you can acquire them from the comfort of your home. The only thing left is to decide what is the best place to buy gold coins!
Owning physical gold is valued by many investors, and nowadays, investing in gold is more popular than ever, with multiple dealers ready to buy and sell gold online. Read on to learn how to buy gold coins from top companies.
Best Gold Coin Dealers Reviews
When it comes to purchasing gold coins, it’s important to find a reputable dealer to ensure you get the best value for your investment. One way to find the most trusted gold coin dealers is to do your research. Look for dealers who have been in business for a significant amount of time, have a solid reputation, and are members of professional organizations like the Professional Numismatists Guild. It’s also important to read reviews and ask for references from other customers to get a sense of their experience. Additionally, you should consider the dealer’s pricing, shipping policies, and return policies to make sure they align with your needs.
American Hartford Gold
Ratings:
BBB: A+
Business Consumer Alliance: AA
Trustpilot: 5/5
Overview:
American Hartford Gold is a privately held gold dealer founded in 2015 and based in Los Angeles, CA.
Products:
The company sells various gold coins, including American Eagles, Canadian Buffalos, Canadian Buffalos, and South African Krugerrands.
Shipping:
All orders include free shipping, insurance, and tracking.
Payment Options:
The company accepts wire transfers and checks.
Other Services:
American Hartford Gold offers a price-match guarantee and a buyback program. Investors can also get up to $2,500 in free silver on qualifying purchases.
Augusta Precious Metals
Ratings:
BBB: A+
Business Consumer Alliance: AAA
Trustpilot: 3.7/5
Overview:
Augusta Precious Metals is a family-owned business in Tarzana, CA, that has been in operation for over 50 years.
Products:
The company offers gold coins from American, Austrian, South African, Australian, and Canadian mints. Some popular gold coins include the American Eagle, Britannia, Austrian Philharmonic, and South African Krugerrand.
Shipping:
The company offers free insured shipping.
Payment Options:
The company accepts wire transfers for any amount and personal checks for up to $50,000.
Other Services:
All clients meet with a Harvard-educated economist. All purchases and products come with price protection. Also, the company offers a 100% money-back guarantee within seven days of purchase for new customers who buy premium precious metals.
Birch Gold Group
Ratings:
BBB: A+
Business Consumer Alliance: AAA
Trustpilot: 4.7/5
Overview:
Birch Gold Group is a precious metal dealer founded in 2003 and based in Burbank, CA.
Products:
The company offers gold assets – some options include American Eagle and Buffalo, Canadian Maple Leaf, Australian Florin, and South African Krugerrand coins.
Shipping:
The company offers free shipping for cash purchases over $10,000.
Payment Options:
The company accepts wire transfers.
Other Services:
Birch Gold Group offers a 20-page “Investment Kit” that explains how to get started in precious metal investing.
Goldco
Ratings:
BBB: A+
Business Consumer Alliance: AAA
Trustpilot: 4.8/5
Overview:
Goldco is a privately held precious metal dealer that was founded in 2006 and is based in Woodland Hills, CA.
Products:
Some investment options include gold American Eagle, Australian Striped Marlin, Liberty, and Washington Monument coins.
Shipping:
The company does not charge for shipping.
Payment Options:
Goldco accepts checks, cashier’s checks, and wire transfers.
Other Services:
Goldco offers financial articles and resources to educate investors about precious metals and IRAs. Their website provides free educational resources in blogs, eBooks, videos, and a live price tracker. Also, fees are waived for the first year, and new investors receive 10% back in silver coins. Finally, the yearly storage cost is reimbursed in like-value silver when investors make a $25,000 minimum purchase.
Goldline
Ratings:
BBB: A+
Business Consumer Alliance: A
Trustpilot: 4.9/5
Overview:
Goldline is a precious metal dealer that was founded in 1960 and is headquartered in Los Angeles, CA.
Products:
Goldline offers a large selection of gold products to invest in. Some options include American Eagle, Benjamin Franklin, Mayflower, Liberty, American Buffalo, Austrian Philharmonic, and Canadian Maple Leaf coins.
Shipping:
Orders are shipped for free.
Payment Options:
Goldline accepts wire transfers.
Other Services:
Goldline offers a seven-day price guarantee program for purchases over $10,000. Also, the company provides educational resources to new investors who want to learn about the precious metals industry and how to get started with investing.
Lear Capital
Ratings:
BBB: No Rating
Business Consumer Alliance: AAA
Trustpilot: 4.9/5
Overview:
Lear Capital was established in 1997 and is located in Los Angeles, CA.
Products:
Some gold investment options through Lear Capital include American Eagle, Australian Kangaroo, and Liberty coins.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts wire transfers and checks.
Other Services:
Lear Capital offers a library of educational resources regarding precious metal investing. The company also has no-fee buyback and price-match programs. Also, the yearly storage cost is reimbursed in like-value silver when making a minimum purchase, and investors receive more like-value silver for every additional $25,000 investment.
Money Metals Exchange
Ratings:
BBB: A+
Business Consumer Alliance: CC
Trustpilot: 2.3/5
Overview:
Money Metals Exchange is an online bullion dealer that was founded in 2010.
Products:
Some gold investment options include American Eagle, American Buffalo, South African Krugerrand, and British Sovereign coins.
Shipping:
The company offers free shipping on orders over $500.
Payment Options:
Investors can pay via credit or debit card, PayPal, check, wire transfer, ACH transfer, money order, or cryptocurrency.
Other Services:
The company has an education center on its website that provides investors with information about previous metals.
Noble Gold Investments
Ratings:
BBB: A+
Business Consumer Alliance: AA
Trustpilot: 2.9/5
Overview:
Noble Gold is a precious metal brokerage firm in Pasadena, CA, established in 2017.
Products:
Noble Gold offers IRS-approved gold coins to invest in. Some options include American Gold Eagle, Canadian Maple Leaf, Australian Kangaroo, and Austrian Philharmonic coins.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
Noble Gold Investments accepts wire transfers.
Other Services:
The company offers a buyback program and a free investment kit to educate investors on physical assets. Noble Gold Investments also offers Survival Packs, which are pre-selected precious metal bundles. The company’s experts select a blend of precious metals for each Survival Pack tier. Finally, the company offers segregated storage.
Oxford Gold Group
Ratings:
BBB: A+
Business Consumer Alliance: AA
Trustpilot: 4.9/5
Overview:
Oxford Gold Group is a precious metal company based in Los Angeles, CA, that was founded in 2017.
Products:
Some gold assets offered by the company include Canadian Polar Bear, American Eagle, British Royal Mint, Austrian Philharmonic, Canadian Maple Leaf, and South African Krugerrand coins.
Shipping:
Oxford Gold Group offers free shipping.
Payment Options:
The company accepts wire transfers.
Other Services:
The company offers a comprehensive investment guide and additional informative videos and articles on how to invest in physical assets. Also, Oxford Gold Group offers buyback and no-fee liquidation programs.
Patriot Gold Group
Ratings:
BBB: A+
Business Consumer Alliance: AA
Trustpilot: 4.9/5
Overview:
Patriot Gold Group is a precious metal broker based in Los Angeles, CA. The company was originally opened in 1990.
Products:
Patriot Gold Group offers gold bullion, proof coins, exclusive coins, and IRA-approved coins. Some investment options include American Eagle, American Buffalo, Austrian Philharmonic, and Canadian Maple Leaf coins.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts wire transfers.
Other Services:
The company offers a free investor guide. Other additional services include investor-direct pricing and real-time online account access.
Regal Assets
Ratings:
BBB: F
Business Consumer Alliance: F
Trustpilot: 1.6/5
Overview:
Regal Assets is a California-based precious metals dealer that was founded in 2009.
Products:
Some of the gold investment options offered by the company include Austrian Philharmonic, Chinese Panda, South African Krugerrand, American Eagle, and Canadian Maple Leaf coins.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts wire transfers.
Other Services:
Regal Assets also offers pre-packaged assets at varying investment tiers. The company also offers a buyback program and segregated storage. Finally, investors are not charged any fees for the first year.
Rosland Capital
Ratings:
BBB: A+
Business Consumer Alliance: AAA
Trustpilot: 2.6/5
Overview:
Rosland Capital is a Los Angeles-based firm that was founded in 2008.
Products:
Rosland Capital offers a wide selection of gold investment options. Some options include Formula 1, British Museum, American Eagle, Austrian Philharmonic, Canadian Maple Leaf, and South African Krugerrand coins.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts checks and wire transfers.
Other Services:
Investors receive $1,000 in free gold if they order a minimum of $20,000.
What Is a Gold Coin?
As the name indicates, a gold coin is a coin that is made predominantly or entirely of gold. Each country has a specific type of gold coin with varying values. For example, the U.S. and Canada produce Maple Leaf coins and Eagles. South Africa produces Krugerrand coins, and the U.K. has the gold sovereign, half-sovereign, and gold Britannia.
Gold coins also have varying qualities. Most gold coins minted in the 1800s are 90% to 92% gold. Most of today’s gold bullion coins are 99.99% pure gold, such as the American Buffalo, Canadian Maple Leaf, and the Britannia. However, you can also find alloyed gold coins, typically 91.7% gold by weight, with the remainder being silver and copper. Some famous alloyed gold coins are the American Gold Eagle and South African Krugerrand.
Compared to other gold products, gold coins have higher premiums and are insured and stored differently. Gold coins must be kept in a dry and cool area, away from indirect and direct sunlight.
Gold Coin History
Gold coins were first minted on the order of King Croesus of Lydia around 550 B.C. and circulated as currency before the introduction of paper money. Gold coins were used for everyday transactions because they were fungible, easily transportable, unreactive, and retained stable value. Once paper money was introduced, currencies still maintained an explicit link to gold under the “Gold Standard.”
Many countries such as the U.S., China, and Australia continue to make legal tender gold coins. However, the coins are used for investment purposes and not meant for circulation.
Types of Gold Coins
Gold coins fall into four major categories: bullion, proof, numismatic, and semi-numismatic. Each type of coin is valued differently and has its distinct advantages and disadvantages from an investment standpoint.
- Bullion
Bullion gold coins are sold at the current market price and are used for investment purposes. They have a recognized weight and fineness. Bullion can also come in the form of silver and gold bars. Additionally, it can also be struck from other precious metals such as platinum and palladium. Examples of gold bullion coins include the U.S. gold Eagle and Canadian gold.
- Proof
Proof coins are the finest quality of coin produced by the U.S. Mint and are made in relatively low quantities. They are valued above the spot price due to their characteristics. The term “proof” refers to the coin’s finish because they are struck more than once with significant pressure using remarkably polished dyes. Moreover, the coins are hand-polished and cleaned. Hence, the field area of the coin may appear smoother than on other gold coins because of the extra care taken in striking the coin. Proof coins are accompanied by a certificate of authenticity and presented in special packaging. An example of a proof coin would be the American Eagle Gold Proof Coin.
- Numismatic
Numismatic coins are collectible or rare coins that tend to be older and have gained value among collectors. In addition to the precious metal content, this type of coin is valued for its artistic merit. Therefore, numismatic coins must be independently certified by third-party services. Examples of numismatic coins include the $20 Saint-Gaudens double eagle coin (1933).
- Semi-Numismatic
Semi-numismatic coins have the traits of bullion and numismatic coins. Like numismatic coins, semi-numismatic coins are valued for their artistry and scarcity. Additionally, they have the same weight and purity standards as bullion coins. Generally, they are limited mint bullion coins and are attractive to both investors and collectors. Over time, the value of this type of coin could rise above bullion because of its scarcity. Examples of semi-numismatic gold coins include the gold American Eagle.
Why Invest in Gold Coins?
People invest in gold bullion coins for various reasons. The most prominent motives include:
- Hedging against inflation
- Providing an alternative to stock and paper currency
- Portfolio diversification
- Wealth preservation
Gold Coin Pros and Cons
Like any investment, investing in gold coins has its pros and cons.
Pros
- Inflation Hedge
The purchasing power of the dollar is likely to decline with time. In such situations, precious metals like gold help investors protect against inflation.
- Portfolio Diversification
Investing in gold is a great way to diversify your portfolio and maintain its value in times of economic depression or stock market crash. Gold is inversely correlated with other assets, meaning gold prices may increase when the cost of other assets decreases.
- Stock Market Alternative
Gold prices tend to rise in response to the fall in stock and bond prices. In this case, investing in gold does wonders to safeguard your assets.
- Wealth Preservation
Gold has successfully preserved wealth throughout generations. So, investing in gold can help you keep your wealth when the dollar weakens. Between 2001 and 2007, the price of gold was in the green. Moreover, from 2016 to 2019, the price of gold increased by 44%.
Cons
- No Passive Income
Unlike stocks and bonds, investing in gold doesn’t earn passive income through dividends. Instead, gold coins appreciate when the cost-of-living increases and the economy undergoes a recession.
- High Premium
When buying gold coins, dealers charge a premium above the spot price. This increases the cost of the coin above the actual market price. Moreover, premiums may increase when the demand for gold coins is high.
- Secure Storage Fees
It is necessary to store your gold coins in a secure storage vault to prevent theft or loss. You may keep your gold in your safe box at home for free of charge. Others may prefer storing their precious metals at a reputable gold depository. In either case, you will be paying fees for high-quality safe or depository storage.
- Capital Gains Tax
Precious metals are subject to capital gain tax by the IRS. When you want to sell your gold, any profit you have made is taxable. The current tax rate on long-term capital gains is 28%.
Gold Coin FAQ
What is a Gold Coin Worth Today?
You can calculate the worth of a gold coin by multiplying its pure gold content by the current gold spot price. The dealer, shipping, insurance, and payment type may also impact the gold coin’s final cost.
Are Gold Coins a Good Investment?
Gold coin investment is an excellent way to diversify your portfolio. Moreover, if other investment assets fall during a financial crisis, gold coins can increase in value, serving as a hedge against inflation.
Investing in numismatic coins is also a good option because their value is dictated more by their rarity and trends in collecting rather than the value or content of the metal from which they are made. These coins trade among collectors based on market expectations as to the coin’s future value.
Do Banks Sell Gold Coins?
You may find a few financial institutions in the U.S. that sell gold bullion coins.
Are Gold Coins 24 karat?
Not all gold coins are 24-karat. Karat is a unit of measurement that determines the purity of gold. The higher the number, the purer the gold, and the lower the number, the more alloyed metals are combined with the gold. All bullion coins are 24-karat due to the 99.99% purity standards. Alloyed gold coins such as the American Gold Eagle coin are 22-karat because it is around 92.67% gold, with the remaining 8.33% composed of silver and copper.
Are Gold Coins Pure Gold?
Most of today’s gold bullion coins are 99.99% pure gold, such as the American gold Buffalo and U.K. Britannia. However, you may also find other gold bullion coins, such as the African Krugerrand, with a 91.67% gold content.
Is it Better to Buy Gold Coins or Bars?
Gold is considered a solid investment no matter its shape. However, some people may prefer to invest in gold coins because of their popularity, design, and unique history. Others may choose gold bars because they get more for the value of their money. Gold coins carry slightly higher premiums over the spot price than gold bars because of the extra minting costs and their commemorative nature.
What is the Cheapest Way to Buy Gold?
Purchasing small gold bars is the cheapest way to buy gold because they carry lower premiums. Moreover, Hong Kong currently has the lowest premiums on gold assets.
What’s the Difference Between Gold Bullion Coins and Numismatic Gold Coins?
Gold bullion coins have a certain standard amount of gold. It has a fineness of 99.99% and weighs one troy ounce. Other types of gold coins, such as numismatic gold coins, vary in weight and value. They may have lower gold content but be worth more than standard bullion coins because of their history and rareness.
Is Buying Gold Online Safe?
Before entering your credit card digits, make sure you are purchasing gold from a reputable dealer. The best online gold companies use Secure Sockets Layer (SSL) encryption and are Payment Card Industry (PCI) compliant to protect the user.
How to Choose a Reputable Gold Dealer?
To verify a dealer’s reputability, visit consumer protection websites such as the Better Business Bureau (BBB) and the Business Consumer Alliance (BCI) to check their ratings and customer reviews.
How to Buy Gold Online?
Like purchasing any other product online, navigate through the website and compare products by category. When you find the product you want, add it to your card, enter the quantity you want and move on to checkout.
Upon checkout, most dealers lock in your price for a short period while filling out your personal information and choosing your payment method. Once you successfully place your order, you will receive an email confirmation with ongoing shipping notifications.
If you have any queries, you can always reach out to customer support via live chat or email.
How Can I Get My Gold Coin Certified?
You can get your gold coin certified by submitting it to a reputable grading company. Reputable grading companies include the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC).
Can You Store Gold at Home?
Except in the case of Gold IRAs, you can store your gold at home. However, make sure to store appropriately in a private safe to protect against damages or theft. Also, make sure that your homeowner’s insurance covers potential loss or damage.
Is It Legal to Own Gold in Mass Quantities?
Yes. There are no legal restrictions on how much gold one can or cannot own. Previously, it was illegal to own gold bullion in the U.S. However, all restrictions were lifted in 1975.
What are the Most Expensive U.S. Coins?
The most expensive U.S. coins are:
- Saint-Gaudens Double Eagle $20 Gold Coin (1933) – sold for $18.8 million
- Flowing Hair Dollar (1794) – sold for $10 million
- Brasher Doubloon (1787) – sold for $9.36 million
- Eagle $10 Gold Coin (1804) – sold for $5.2 million
- Silver Dollar (1804) – sold for $7.68 million
- Half Eagle $5 Gold Coin (1822) – sold for $8.4 million
- Brasher Doubloon (1787) – sold for $9.36 million