One of the oldest forms of money is the gold coin, its use goes back as far back as 560BC when King Croesus of Lydia. The Chinese then used them as 5 or 6 a. C. century. Gold coins were the main form of currency through the early 20th century. In 1933 most of the world had stopped making gold coins and their use as currency.
Today, gold coins are primarily collected by investors as a hedge against inflation. In 1967 South Africa introduced Kruger rand to meet the small investors, hence the reason they are manufactured in one ounces Rands, 1/2oz, 1/4oz, 1 / 10 and 1 / 20 oz
The main gold coins in circulation Today in the order of their popularity is the Rand, American Gold Eagle, Canadian Maple Leaf Gold, British or Sovereign Britannia, Chinese Panda, Gold Dinar, Russian and Chervonets Vreneli Swiss.
Twelve Reasons to invest in gold today!
1. During the last run for gold in the 70's and 80's the price of gold rose 20 times.
2. There is a drop in global gold production in addition to its scarcity.
3. India and China have an appetite for gold and truthful of their powers economy forward that will raise the price of gold through demand and limited supply worldwide.
4. There have been no new discoveries of deposits Gold recently and can take up to ten years to bring a new mine into full production.
5. Whenever the world is on the verge of a people to turn recession gold because it provides security.
6. It does not deteriorate and will last forever.
7. He is wanted by the jewelry and electronics manufacturing.
8. Governments can print paper money quickly, but can only produce gold.
9. No other investment has the wealth preserving power gold.
10. The price of gold will continue to be pushed by the current U.S. debt and the crisis of trade.
11. Gold is a safe investment inflation.
12. Gold is the only truly international currency.
Gold is Recession Proof
In June this year, I followed my own advice and bought once five Kruger costing £ 470 per coin £ 2.350. The price of gold was at $ 870 per ounce when I bought my coins and since then the price of gold has fallen to $ 771, but the selling price has increased. Today a one ounce Krugerrand is selling at £ 629 for a 1 oz Krugerrand. My five currencies today £ 3,145 worth if sold today. I would have to pay a sales quota of 7%, which would leave me with £ 574.85 profit or a 24.46% profit in 5 months.
This is an outstanding performance in the current economic conditions if I had to sell my coins today. I think gold will increase further. This shows that there is money to be made during a recession. I spoke with a company before today's gold bullion and only had two Krugerrand coins for sale. They said that people became real gold than gold paper in this recession, as they felt better use of real gold and not a stock certificate for gold.
Buying and selling gold coins?
When you buy gold through a gold bar you pay the price of gold at the rate at that time and when you decide through selling gold bullion offered by 7% to 9% lower than the going rate of gold.
You can now buy and sell gold coins on eBay, but is it a case of caveat emptor Latin for "Let the buyer beware" so please BEWARE!
You need to be careful and check the seller to eBay, look their votes and check out the comments left by previous buyers. Do not buy from a vendor with less than 30 feedbacks. Check out what other seller thought of dealing with them and if you are not satisfied with the seller then move the seller to come, many more. Also check out their shipping and packaging.
If you decide to buy from eBay make sure you check the price of gold that day and pay no more than it would have paid a smuggler of gold including the postage and packaging. Go to: Kitco.com to the price of gold per day and to download a widget price of gold for his team.
I have one of his players gold price in my taskbar on the bottom of my screen and is updated every day, giving me precious minutes until golden. Then take a look on eBay and see what gold coins are or money or below and do not forget to visit the post and packaging costs for the seller.
When every time I'm selling gold that always sell on eBay as I usually always get the market price or a higher premium when two buyers are going head to head in my auction and then do better than the market price. Do not you just love eBay!
My best way is to buy bullion dealers when the price of gold and then sell on eBay. I heard asking why buy from a dealer in bullion and sell on eBay, I know that if I buy from dealers gold bullion coin is authentic and when to sell on eBay I can get a better price than if sold to a dealer bullion, I offer a 7% to 9% less than the market price.
Contributing author Mark Aucamp has been providing Money Saving Expert with regular money saving expert posts and comments. Mark is recognised as an authority in the field of Debt Management. Mark has extensive experience in providing Advice & Solutions. To see if your Mortgage or Loan is invalid and unenforceable go LoanCheck for a free appraisal.
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