Saturday, March 21, 2015

Invest in Coins with Royal Canadian Mint

If you are trying to figure out ways to diversify your investments, here is another one to consider seriously: investing in Royal Canadian Mint coins. Let's look at coins as an investment tool. Read on to see a couple of important techniques behind coin investing.

First off, I will cover what you don't want to do when it comes to buying coins for investing purposes:

1) Don't buy coins immediately from TV shop. Shop around!

From time to time we see coins sold on TV (a pretty widespread practice in the US). You want to be really careful with TV shops. Before you take out your credit card and give it to the dealer on the phone, shop around. There were plenty of evidence that TV shops inflate the price of coins. Same exact coins could be bought from your local coin dealer for less expensive.

2) Don't buy immediately from private mints. Shop around!
Yes, you might fall on private mints. There were warnings issued in the past that some private mints issue coins with quantities of precious metals much lower than advertised. So, before buying from a private mint, check this mint's reputation online.

So, what do you need to do if you are ready to invest in coins? Well, in Canada you would go to the Royal Canadian Mint. The Royal Canadian Mint is a Canadian Crown Corporation, 100% owned by the Canadian Government. But what to buy from them so that it's a good investment? Read on!

It goes without saying that the best investment coins would be rare coins issued by the government to mark specific key dates. You want to buy coins in the best grade you can afford buying them in.

If you can invest $1,000-$1,500 in a coin in high grades, then go for regular coins in the finest grades. Why so? Simply because, lower grade common coins would not have high value down the road.

It's also recommended buying coin, which are being sold at their nominal price. Consider offers like $20 coin for $20, or $50 for $50, etc. Here are a couple of recent deals of this kind from the Canadian Mint:

If you have any background in economic studies, you probably know that precious metals (well, coins are made of them) always increase in price over the long term. With the rise of Asian economies (China, India), your coins may become a real fortune in a couple of decades.

Well, don't buy a lot at a time, but build your coin collection gradually.

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