Expert: Troy Thoreson - 10/13/2009

Question
Hello Troy-

First of all- thks much in advance for your time and expertise.
I am new to coin collecting and trying to start making purchases of gold coins as an inflationary hedge and long term financial growth plan. I've just received an offer from the Preferred Coin Club to purchase a 2009 Bi-metal Gold and Silver Noble Proof 70 coin that is struck in .9999 gold and .999 silver. Weighs a full 40.493 grams (31.103 gms. gold %26 9.39 gms. silver). I have tried to find an on-line coin valuation service to price compare- but no luck.Obviously- Newly minted gold coins are not easy to price out like bullion coins- but how do I know I'm getting a fair deal?

What resource can I use and where do I look for comparative pricing for such a coin to be sure that I am getting an equitable and accurate price prior to purchasing?

Thks again- and look forward to your response.

Greg from Nor-Cal.

Answer
Hello Greg,

I think you have been watching to many late night coin shows.  Please stick with American Gold Eagles or Buffalo 1oz Gold coins.  I don't have time to get into all the advantages of owning these Gold coins - but there are many reasons.  If you want to get set up on a monthly buying plan we can do that.  Or your can just go down to your local coin dealer.  Fair pricing on Gold American Eagle and Buffalo Gold 1oz coins is up to spot +58, +100 respectfully.  Stay away from off brand privately minted Gold.  

Yes, the following is a canned response designed to help the novice collector with general information.  If you need more explanation or you feel my answer is to short, please call me or reply with a more specific question.  I own and operate an active coin shop and I apologize in advance if my answer is short, to the point, or lacking detail.  Again, please reply or if I missed something or if you need more information.

Information given about values is general and determined by current market conditions and/or the price of metals.  Prices and values are subject to change.

Please remember to never clean coins, this can damage and lessen their value.  Also, soft plastics can contain harmful chemicals that can react with coins over time.  Try using inert materials when storing coins.  Plus, it is always a good idea to store coins in a safe.  The safe should not be exposed to the elements and should not be up against a wall to the outside.  These are just a few tips I have learned over the years to help keep your collection in top shape.

If you found this information helpful please nominate me for category expert in coins.  If coming through Los Banos, CA please feel free to look us up at Thoreson Numismatics, 947 6th Street, Los Banos, CA  93635.  209-826-0777, email troy@aucpro.com.   Please remember that we are always in the market to buy and sell coins, currency, tokens, and medals both U.S. and World.  We are also licensed to buy scrap gold & platinum jewelry.  

Thanks for the question,


Troy Thoreson, President
Auc Pro, Inc.
Thoreson Numismatics
www.aucpro.com