While some people look for smaller, lighter coins for the initial purchase, smart gold investors know all about the value of buying gold coins that are one ounce in weight.
The thing to know is that as gold coins get smaller than one ounce, you will be paying more of a margin above the gold spot price. This means that it is in your best interest to buy coins as close to one ounce as possible.
Luckily for investors, there are lots of ways and lots of places where you can buy one-ounce cheap gold coins on the market today. They are the most popular weight for gold coins, so many purchasing outlets exist.
Buying one-ounce cheap gold coins online
You should know, first and foremost, that the internet has opened up doors that used to not exist in the gold market. These days, people are learning all about their options and lots of folks have started sites for the sole purpose of promoting gold sales.
If you are looking for solid, cheap coins, then you should consider these online providers.
Some sites will sell these coins direct, and they will only take somewhere between a 5% and 10% markup over the spot price of gold. If you concentrate on buying large quantities of gold coins, this markup can go down and you can save money over the long haul.
Buying online from other individuals
One way of buying gold coins online is to look for those mass sale sites. Another is to use a site that allows individuals to connect with one another for the purpose of making transactions. You can use this type of site to link up with a person that has the exact gold coins that you want at the price you want.
Often times the site will take a small percentage as a commission, but you can still get a very nice price on your coins when you shop in this way.
The important thing to know when you are working with any online site is whether or not they are legitimate and can be trusted. Do your research, so that you don’t end up getting scammed out on money online.
Buying from coin shops
If you are more apt to shop for coins in traditional ways, then a local coin shop is a good place to start. There, you will be able to look through the coins that the owner has and you’ll be able to pinpoint a wide selection of one-ounce coins for purchase. The upside here is that you can find some rare coins that you might not have even known about otherwise.
You will also know exactly what you are getting when you leave the place and your commissions will be low on all of the coins that you purchase. The downside to buying in this way is that the coin shops are not likely to have large quantities of different coins, so you won’t be able to make a large purchase with these individuals.
Buying from banks
Though it is becoming a little bit more difficult today, some banks still sell one-ounce cheap gold coins to individuals. This is easier in Canada, where plenty of banks will sell the Maple Leaf coins to folks who are interested. Understand that commissions on coins bought from the bank will be exceedingly high, as will the exchange rates that they apply. It is best to avoid banks for this purpose if that is at all possible. With all of the options at your disposal today, there is just no reason why banks should be your first choice.