Gold Confiscation Report: How to protect your assets in the coming inflation crisis
Irvine, CA (PRWEB) October 8, 2010
Recent Congressional hearings about buying and selling of gold coins have focused attention on the prices some investors are paying. "It's easy to do your homework so you don't overpay," advises veteran rare coin dealer Steven L. Contursi, President of Rare Coin Wholesalers of Irvine, California (http://www.rcw1.com).
"When purchasing common gold bullion coins, such as modern American Eagles, you should not be paying more than five to ten percent above the spot price of gold, and you should be able to sell for at least the spot price or more. The current spot price is easily available from many sources on the Internet, so it's easy to avoid overpaying with just a minute or two of investigating before you invest," said Contursi who has made international headlines buying and selling some of the world's most valuable rare coins the past decade.
"Some retailers have been known to sell gold bullion coins for 25 to 50 percent or more above the spot price. So, investor beware; research the price before you purchase."
Contursi also advises to watch out for other red flags when buying coins.
"Beware of coins that are promoted as 'rare' on national television and radio commercials and infomercials. These coins might have a wonderful story, but if a coin is available in sufficient quantities to be support a large, national advertising campaign, it is far less likely to be a true rare coin and may not have a strong secondary market when you want to sell it."
"There are better alternatives for investing in gold coins where you don't pay such a high premium over the actual bullion value, such as modern American Eagle gold coins and plentiful, circulated-condition 19th and 20th century U.S. gold coins. There also are better alternatives if you want to buy truly rare gold coins with a track record of appealing to collectors," Contursi explained.
In May 2010 Contursi set a world's record with the $7.85 million sale of what many experts believe is the very first silver dollar struck by the United States Mint in 1794. It's the highest price ever paid for any rare coin.
A list of nine important "red flags" investors should know about when buying coins is available free online at http://www.rcw1.com/redflags. A complimentary copy of the informative brochure, "Gold Confiscation Report: How to protect your assets in the coming inflation crisis," is available by contacting Rare Coin Wholesalers at (800) 347-3250 or visit online at http://www.RCW1.com.