Tips for Purchasing Gold Coins

Tips for Purchasing Gold Coins
By [http://ezinearticles.com/?expert=Rani_K_Samar]Rani K Samar

Gold coins are purchased with great zeal all over the world as it has not disappointed buyers till date even though the rates keep fluctuating every now and then. It is considered as one of the safest and reliable investment options. To make good profit out of buying gold coins, they should be bought when the country's economy is at its zenith. This is because the buying price would be low.

But before making a purchase, buyers should be well-informed of the factors that determine the price of the gold coins. One such main factor that determines the price of coins is purity. Price of 24 karat coins is more than the price of 22 karat coins because 24 karat gold is the purest form of gold. Look for the BIS (Bureau of Indian Standards) hallmark on the coins to ensure its purity. The mark also ensures that it is a genuine purchase that is being done legally.

Gold coins can be bought from various sources including banks, retail jewellery stores, auction sites and online stores. An important point to be remembered is that banks do sell authentic gold coins, but they cost more compared to a jewellery store; but they do not purchase back the coins they sold. In other words, the purchaser will not be able to raise funds by selling gold back to the bank during emergencies or financial crisis. The above mentioned reasons are good enough to seek other modes of purchase like retail jewellers offline and online. But, this option should also be researched well.

Some of the facts that need to be pondered before purchasing from retail jewellery store include policy pertaining to buy back option, buying rate, deductions and so on. Buyers should know if the buying rate would be calculated as per the prevailing rate on the date of selling or not. They should find out if there would be any wastage charges, making charges or melting charges that would be deducted from the actual price. Another important fact to note is that if they would be able to sell the gold coin bought from elsewhere.

The jeweller's reputation should also be given a due consideration as it is directly proportional to the purity of gold they sell. Normally, any genuine and reputed jeweller would have worked hard to build good reputation, so it would be intelligent and safe choice to buy from such jewellers.

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Article Source: [http://EzineArticles.com/?Tips-for-Purchasing-Gold-Coins&id=7337807] Tips for Purchasing Gold Coins