- Coin Investing
Owning Gold and Silver Coins may be a new experience for most investors. At Eastern Numismatics we believe you should become familiar with the coins you may acquire. Listed below are the major categories of investment quality coins along with brief descriptions. Should you have any questions your ENI representative is qualified to explain the details for all of the coins that we offer.
Gold Bullion Coins: You will pay the lowest premium above the gold spot price for bullion bars. Coins will trade at a slight premium to bars due to the fact that they are legal tender and more desirable to own. Many countries strike troy weight one-ounce gold coins including the US, Canada and Australia. All US bullion coins and some foreign bullion coins are eligible for IRA investment accounts. At the time of liquidation, all gold bullion coins & bars can be sold at or near the spot price for immediate payment or trade. It should be noted that foreign gold bullion coins and bars in excess of 25- ounces will require the completion of form 1099 at the time of liquidation.
Silver Bullion Coins: One ounce silver coins such as the American Silver Eagle are currently being produced at the US Mint. Also available are one ounce coins produced at other national Mints, such as the Canadian Silver Maple Leaf. Many of the newly minted coins and bars are eligible for IRA investment accounts. These coins trade at very small premiums above the spot silver price.
Generic Gold or Silver Coins: These consist of the typical US gold and silver coins of the late 19th and early 20th centuries, in reasonably good condition. Generic coins trade at a higher premium to gold than typical bullion coins, but are preferred by investors due to their numismatic collectability and wide appeal. At the time of liquidation generic gold coins will receive a higher premium above gold spot for immediate payment or trade. Generic coins are not eligible for IRA investments and do not require completion of form 1099 at the time of liquidation.
Certified US Gold Coins Certified US Gold Coins: They are similar to generic coins but are independently encapsulated and are certified by an accredited grading service in a high quality Mint State condition. They offer investors an easy entry into acquiring better gold and silver coins at prices still relatively close to bullion. They can be quickly liquidated for immediate payment or trade. These better US coins are not eligible for IRA investments and do not require completion of form 1099 at the time of liquidation. Gold coins will receive a higher premium above gold spot for immediate payment or trade. Generic coins are not eligible for IRA investments and do not require completion of form 1099 at the time of liquidation.
Key Date Rarities: These are the better type and dated coins from 1792 up to 1933. They should always be certified by PCGS or NGC for authenticity and grade. Unlike bullion and generic coins, rare coins are not directly affected by the daily movements of the gold and silver spot prices. Rare coins trade in a market much like other rare collectibles. They are the strongest segment of the coin market with prices today exceeding $1 Million dollars on many single coins.
Territorial & Proof Gold: This includes the early gold coinage from the period of US expansion into the western territories, and the pre-1934 proof gold coins. They trade in the certified coin marketplace and prices are often set by recent public auctions. These coins should always be certified by an accredited grading service and values exceeding $1 Million are not unusual.
Rare Ancient Coins: Ancient Greek and Roman coinage dating from the time of Alexander the great, the first twelve Caesars of the Roman Empire and the gold coinage of the Byzantine Empire. Ancient coins are usually certified by an accredited grading service whenever possible. These coins trade in the world coin marketplace and prices for better coins are often set by recent auction values.