Buying of gold coins from banks is advisable?

Question

Buying of gold coins from banks is advisable?

Answer 1

There is a saying " Caveat Emptor"  Or Buyer beware so anyways you are loosing because when i went to sell the gold coins purchased by me from banks- which says .999 purity i got only .95 since they said it is .95 and not .999. i think where ever we buy this stuff from they are keeping their good margins and we are giving up for peer pressure. Be watchful!

Answer 2

buying gold coin from bank is advisable because you will get it genuine but while selling you will get little less, this is because they sell in number one account and charge tax as applicable

Answer 3

no is is costly to buyt from a bank. buy from a reputable jeweller of your city, u will pay less

Answer 4

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Answer 5

Banks in the USA generally do not carry gold coins, I'm not sure about India.  

In the USA you need to go to a coin shop specializing in gold coins, or you can purchase via ebay using paypal with insurance.  You will pay spot price of gold (which can be looked up on kitco.com) plus a fee.  The fee should not be more than $20-25 dollars.  You should never pay $25 over spot price.  

Now, as a previous poster alluded to, now may not be a good time to buy gold if you're looking for an appreciating asset.  Gold has had a tremendous run as the dollar has gone down in value.  Now that the dollar is in what looks to be an upswing, gold may not be a good short/intermediate term investment.  

However, gold can always be purchased with the intent to hold forever and as a kind of insurance against... well, anything.  Every government could fall, any country could rule the world, or a large depression could set in... and gold would still have value.  It doesn't hurt to own a little.  

Answer 6

We really need more information to properly answer the question.  If you are buying coins for their value in gold, now may not be a great time to buy.  The dollar is getting stronger and pushing the price of gold down.  If there is an intrinsic value beyond the value of gold it may be.  Don't rush into a decision no matter the case.  Comparison shop, and make sure you understand why you are buying the coins.

Answer 7

Buying gold coins is advisable, but buy them whereever the most affordable, this could mean your local coin shop, or eBay. At least use eBay to compare prices.