Newbie buying regular non-collectible bullion in the US

[MetalGerry]

First, yet another sorry from yet another newbie for asking yet another question that’s been answered somewhere in this forum for sure … I’ve been doing my homework, but still have questions… If there is already a thread that answers specific questions below, would be much obliged if someone point me to the right source.

Goal: buy gold bullion coins in US.  Regular circulated coins as non-collectable assets  (not proof, not uncirculated) to get the best value from what I’ve learned.  I prefer 1oz and 24ct, so I assume Buffalos is the choice in the US, but Maple Leafs or Kruggerands may do as well, since for asset keeping and easy cash-out proposes they are all fine choices, from what I’ve read online.

Main question:  Local dealer or online order from JMBullion or AMPEX?  Being new I just want the best condition bullion without much hassles since I don’t have experience evaluating pre-owned coin authenticity or condition.  What I need to understand:

-         JMBullion, AMPEX, Fidelitrade are listed as “authorized” dealers that buy direct from US Mint.   Does that mean I will be getting brand new freshly minted Buffalos, or possibly pre-owned ones as well? 

-         If I buy from a local shop, I assume I will be getting pre-owned ones, or do they also sell brand-new? 

-         I’m afraid to be sold a fake bullion, or a bullion not in a pristine condition, so not feeling good about local shops.  Am I right to assume the “authorized” online dealers above will be a safe choice for a beginner?

If this is better posted to the Gold forum, please feel free to move........

Edited November 23, 2021 by MetalGerry

[Pampfan]

Your best bet would be to call one of the big online dealers JMBullion and Apmex with the list of bullion coins you want to buy and just ask them.  In my experience if they list the coins as BU - then you should have no issues.  

Good luck.

[Lr103]

@MetalGerry Moved out of the trade section. 

I personally would not be worried about buying from well known online dealers. Even if you are buying newer gold bullion coins, you might very well end up with one that is preowned. All of the dealers buy gold bullion coins from customers, and then resell them. I have sold coins to several dealers, and they certainly test everything prior to releasing payment, so I would not worry about fakes when buying from a dealer. 

If your goal is to buy the lowest premium coins from US based dealers, I would also look at BullionExchanges and SDbullion. In my experience they have lower premiums on average, but APMEX and JM are great when it comes to selection if you looking for a certain coin. Good luck, and welcome to the Forum! 🙂
 

 

[Happypanda88]

Hello! Welcome to the forum!  

When I first started collecting, I made sure that I purchased from well established and reputable dealers. It takes the worry out of the equation.

Buy the coins you like, study them in hand and get a feel of them. Take high resolution pictures of them if necessary and view them close up. 

You will soon gain confidence on the look and feel of these genuine bullion coins. Good luck on your journey collecting precious metals.

[Mrpound]

Also research and buy a Sigma Precious metals verifier 😆

[Centauri167]

Hero Bullion is also a good online dealer in the US.

But I would also try to fond a LCS near your home, just visit and ask them your questions. Probably they are also an "authorized dealer" and you can compare the prices they ask with the prices online.