There are plenty of silver and gold bullion options available for purchase. When it comes to guaranteed quality, US Mint coins come with reliable levels of purity. But if you’ve been seeing the ads for fancy US Mint coins, you’re likely thinking about whether they’re a good idea for investment. So.. it begs the question.. are Coins a good investment?
Any item containing precious metals can be sold for their weight in precious metal. But US Mint coins come with their own fundamentals that you’ll need to consider. So let’s look into whether or not they’re a good investment.
Are Coins a Good Investment in 2020?
The US minted silver quarters until 1964. But believe it or not, there are many normal silver coins still in circulation. Investing in silver coins is especially easy. There are also plenty of other kinds of special coins minted by the US mint that you can buy as investments.
US Mint bullion can make a good investment. But there are a few things you’ll need to consider. First of all, US Mint Bullion is sold at a premium. The price you’ll get them for will typically be well over the value of their weight in silver or gold. And the value of silver when the dollar collapses is typically high.
In fact, regular bullion coins will cost significantly less in most cases. In most cases, you’re unlikely to recover your investment into a US Mint coin without previous research.
If you want to make a profit off a US Mint coin investment, you need to capitalize on one particular value: rarity.
Any minted coin you buy that you hope to recover the value of (with a profit) should be rare.
An old coin can be very valuable if it is rare and sought after on the collectibles market. But it isn’t always easy to determine which coins will become valuable collectibles. Historically, most minted coins have been held as investments, not as collectibles. So, you’ll want to learn how collectibles work. One good place to start is by learning how coin grading works in the US. The Adapted Scale is used to grade coins by many factors and is a good indicator of a coin’s collectible value.
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In 2020, the right minted coins can serve as a good investment. Rare coins tend to retain their value and even accumulate more value as time goes on. While these coins won’t net you much in the way of pure precious metals, they still hold a different kind of value.
Another important step to making the right US Mint coin investment is making sure your investment is legitimate. There are many things to look out for.
Buying Coins from the U.S Mint - What to Look Out For
Unfortunately, the US Mint bullion market has been tainted. The Federal Trade Commission (FTC) warns collectible coin investors to perform copious amounts of research before purchasing coins. They even state that you simply can’t afford to not research the coins you’re considering buying. The best place to buy silver coins is a place that follows regulations and offers fair prices.
For a US Mint bullion coin to have collectible value, it must have historic and/or aesthetic value to the buyer. That’s why so many of these coins exceed their melt value. Their precious metal content can be rather small, so you need to assess them differently than you would other precious metal investments.
Dealers selling legitimate collectible coins have them graded by professionals. After the coin is assessed for many different metrics, it is given a score from 1 to 70 before being wrapped in plastic for protection. But it's hard to evaluate a coin just by looking at it, even if you’re an expert on the subject.
The FTC recommends you take several steps before buying a collectible coin. One critical step is to directly ask for the coin’s grade. Then, investigate the grading service they claim to use. The most common and trusted coin grading services are the Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC), according to the FTC. They also assign serial numbers to each coin they grade so you can call them and confirm the grade the coin is advertised as having.
Legitimate coin dealers also offer written return policies of at least a week. Getting one is also an important step, as the collectible coin industry is full of rip-offs and outright scams. Check with reputable watchdogs and regulators such as the Better Business Bureau and FTC for complaints and gradings for coin graders and dealers.
How Do I Sell Coins to the US Treasury?
The US Mint doesn’t redeem, grade, or appraise your minted coins. You can however redeem broken coins through them. They can also redeem mutilated coins for their scrap metal.
According to the US Treasury, banks may reject or accept collectible coins at their discretion. You can sell many US Mint coins to banks. They’ll be able to assess them.
You can, however, purchase coins from the US Mint. The US Mint sells commemorative coins and you can rest assured that they won’t sell you something with any kind of false advertising. That being said, it’s still your responsibility to make the decision to purchase their coins.
Final thoughts on US Mint Coins
US Mint coins attract a premium value for some buyers. But they are certainly harder to benefit from when compared to regular precious metal bullion. If you want to learn about how grading and collecting US Mint coins works, you can benefit from the value that minted coins offer investors. Otherwise, buying a standard bullion product like a 1-ounce gold or silver bar will be easier. In that case, you only need to understand how to assess the value of your bullion by their weight in precious metals.
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