Have you ever considered buying maple leaf gold coin for investment or simply as a hobby? In this present time of instant and online financial accounts and stock trading, money might appear like make-believe. As a matter of fact, you will not even have the passbook to hold on to. Most of the time, people do not even consider money to be a tangible object. This is the reason there is something quite solid and satisfying when investing and wanting to buy maple leaf gold coin. There is nothing quite better than going to the coin shop and taking coins home to feel the weight of each.
However, there are some people who are doubtful when it comes to buying maple leaf gold coin. Take a look at some of the advantages and disadvantages you can enjoy when you buy maple leaf gold coin.
What are the Advantages of Buying Maple leaf gold coin?
Gold and some other precious metals are considered to be a significant part of a traditional investment plan. Check out why,
- Gold value tends to go up when all other investments decline offering a stabilizing effect on the portfolio.
- Gold is known to be bulwark against the inflation.
- You do not need to play any capital gains tax till you are selling.
- No one needs to know that you have it, if it matters to you.
- In worst case scenarios like massive currency devaluation, you will be able to use gold and silver for buying and selling. This can sound somewhat crazy but it is known to have happened in various countries.
Disadvantages of Buying Maple leaf gold coin
However, you need to know that if you buy maple leaf gold coin, it also has some disadvantages. Take a look at few of them.
- A thief is capable of taking away your maple leaf gold coin.
- Unlike bonds and stocks, buying maple leaf gold coin is not considered to be an investment in the growth of the company. You will not be able to obtain interest and dividends from the tangible gold.
- You might have to wait for se4veral years for the gold to increase in value.
Tips to Buy Maple leaf gold coin
If you are planning on buying maple leaf gold coin, you need to make sure that you are getting it from a reputable financial institution or dealer. In case you are buying maple leaf gold coin from an individual, you have to verify the authenticity of the gold coin. Obviously, you do not want a collection of gold plated lead. U.S. coins are available in one, one-quarter, and one-half denominations. You basically pay premium over the price of the gold coin per ounce. This is how the dealer is going to make profit. You might have to pay higher premium if you purchase maple leaf gold coin in less than once ounce per inch.
However, you should know that collector’s coins are pretty different than the gold bullion coins. They are sold at a high premium and the price of these depends on various factors. Unless, you know about collector’s coins, you should stick to the bullion coins.
You shouldn’t even think of hiding the gold in the house unless you are safe enough. The thieves will know where they have to look for the maple leaf gold coin. If you buy maple leaf gold coin, you need to make sure that you have a safe at the bank to store them.