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Gold ATMs on the way PDF Print E-mail

Gold ATMs (Automatic Teller Machines) which dispense gold bullion as bars or coins have already been installed in some locations around the world, including Berlin, Frankfurt airport, Abu Dhabi, Bergamo, Madrid and Munich. The company involved, 'Gold to Go', is planning to install hundreds more of their machines in the next year, including wealthier locations like Florida and Las Vegas.

The cost of your gold from the ATM is based on the current spot price, which is always being updated automatically, plus a premium of 20%. Ouch. 

It's not the way I'd like to buy gold bullion - I don't like the price or the obvious security issues after the gold pops out into my hand - but there is obviously a market here of those consumers for whom novelty and convenience is more important than the price.

The premise of the story which you can read here is that it is another sign that many people are continuing to be suspicious of governments and their continuously devaluing paper money, and are ready to replace it with gold, and want to get gold in their hand as easily as they get cash.

With that I'd have to sympathize.

 
Protect yourself from sellers of fake Chinese coins PDF Print E-mail

If you are tempted to buy Chinese gold bullion coins (for whatever reason) you probably know that this market is saturated with sellers of fake coins.

A seller like this will often sell a lot of cheap items on the online auctions to build up some good positive feedback before selling the higher priced fake coins.

The problem is now so big that some sites are maintaining lists of fake sellers - browse through the Fake Coins information on this site.

You may also want to check these pictures comparing real and fake gold Pandas.

If course there are many legitimate sellers of such coins too, so how do you find those and protect yourself from the rogues? Well, reading forums and the information on pages like those linked above will help you to be able to identify the fakes (information is power) or you might just decide not to buy from sellers in China at all.

Sadly, those interested in knowingly buying fake Pandas for their collections (don't ask me why) are often outbid by naive users looking for a bargain.

Don't be caught out!

 
Coin collecting tips PDF Print E-mail

Here is a guide which gives some good advice about collecting coins - all kinds of coins, but particularly gold ones.

The old chestnut about buying the best coins you can afford is touched on, but there are some really valuable pointers for thiose who want to really build a great collection of numismatic (as opposed to just bullion) coins.

The key is having the knowledge to recognize when a coin you see for sale at an auction or at a dealer is good value. This knowledge partly comes from experience, but also from reading, and educating yourself as a collector. This involves both building a library of books, and a library of bookmarks.

Of course, you can't become an expert in every gold coin ever minted, but specializing in one type of gold coin, or one era, is one way to build up the knowledge you need to make good buying decisions. You probably have a favorite type of gold coin already, and that's where to start your reading. Soon you will learn the difference between an average and a superior coin, and be able to judge what they are worth.

With the price of gold reaching new heights week by week, collecting gold coins is not a low-cost hobby, and the more you learn the more likely it is you will be building a worthwhile collection - for pleasure or investment.

 

 

 
The real market value of your gold coins PDF Print E-mail

It has been mentioned elsewhere on this site, but coin owners who wish to sell their coins often wish to know what the current market value of a particular gold coin is today.

One way to do this, especially at a time like this when the price of gold is rising to new levels, is to look at the online auctions. You can study not what sellers are asking for their gold coins, but at the actual prices they have sold for (or, in many cases, did not sell for if the owner is too greedy or unrealistic).

How do you do this?

Go to this completed listings page at eBay, and scroll down to click on the Coins and Paper money category. You can then see what coins like the Buffalo, the Eagle and foreign gold coins have sold for today and in the last few days. (You seem to need to be registered at eBay to do this). If you do this checking regularly, you get a sense of where the market in gold coins is going, and what you could realistically expect for your coin if you sold it that way.

 

 

 
Too late to join the gold party? PDF Print E-mail

Here is another article which attempts to discover if it is too late to get into gold or not. The recent surge in the price of gold to near record levels, coupled with the ongoing ambiguity about whether the recession is really over or not, has turned investors attention to gold once again.

If you have not been paying attention, have a look at the recent gold charts for the price of gold now.

If you follow any commentaries like these, you soon see a common thread in the explanations for the rising price of gold - worries about inflation, increasing demand from China, and the expectation that in fact it has a long way further to rise and there is no time to lose.

Something new in this summary though is the acknowledgement that previously accurate analysts agree that we are in a solid bull market for gold, with no end in sight. People like George Soros and John Paulson, for example. There is also a dig at commentators who were warning against buying gold when it was at $600 an ounce.

But as always, the consumer market is lagging behind the play, and gold is still to be had at prices reasonably close to spot on the online auctions. For how much longer though?

 

 

 

 

 

 

 
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