I have a small pile of gold coins. I have mostly bullion coins such as Krugerrands, Eagles and Maple Leafs. I also have old foreign gold coins (British Souereigns, Swiss Francs), as well as early U.S.A. gold coins, a few very old gold Spanish Doubloons (for fun) and old gold coin jewelry.
I buy gold from coin shows, coin shops and from APMEX (American Precious Metals Exchange). APMEX has a very low profit markup over spot price (Less than 1 %). I checked out “Goldline” and they tried to charge me 69% over spot price but that is outrageous and another story. Companies deserve to make a profit but you should never pay more that 8% over spot price for gold bullion coins.
I’ve been buying gold for 3 years. I is fun and educational to read about gold and to talk to the experts at coin show and shops.
I buy gold because some experts say that it is a good thing to do (inflation, government printing more & more USD’s, crushing Federal debt, etc) and I’m no economic expert.
My plan is to slowly start selling off my gold when I’m over 70 to go on trips or for anything that I want or need. I hope that I’ll never have to sell the gold to buy food or healthcare.
My pile of gold has a value far less than that of my total investment portfolio.
I stopped buying silver as it is to bulky to store.