It's why in general, government-backed coins are most reliable and trusted.
In the US there are 90% old silver coins, silver eagles (too high premium right now, so many I know are getting the 1/10th oz and 1/4oz gold eagles that aren't so bad and fairly close to the Maples and Krugerrands).
It's nice to have a few 1g/2.5g/5g gold Pamp bars from a reputable dealer, then those can be proven real by a dealer who can test them.
But in a SHTF scenario, I'm going to trust government-backed coins the most as they are less likely to be faked as it's a federal offense.
That being said, it was scary watching this video by Yankee Stacking showing an old fake US gold 1904 $20 Liberty coin, someone almost lost a lot of money and that thing looked real, but a pocket pinger would have caught it (for those who can't afford the $1000 or so machine tester like a Sigma Verifier).
It's rare to find fake ones like that, but it goes to show they exist, which is why the pinger I think is worth to have for $30.
Good advice. A pocket coin pinger is crucial for anyone who stacks. I actually just recently tested a coin from Perth Mint with my pinger and it checked out.
If you only have $5-10k to trade, consider silver instead.
Just find a reputable local coin shop and pay in cash. No record of the transaction and at no point are you separated from your money without having the gold in hand.
A good coin shop won't try to confuse you with prices or try to upsell you on collector's coins when all you want is bullion. They will charge a premium on top of the spot gold price, and that depends on which product you're buying. Coins typically have a higher premium than bars. Make sure you ask and understand what their premium is before you commit to a purchase. Premiums can get very high when the physical supply is low, so even if there is a dip in price you won't often be able to take advantage in the physical metal market because the supply dries up.
It's why in general, government-backed coins are most reliable and trusted.
In the US there are 90% old silver coins, silver eagles (too high premium right now, so many I know are getting the 1/10th oz and 1/4oz gold eagles that aren't so bad and fairly close to the Maples and Krugerrands).
It's nice to have a few 1g/2.5g/5g gold Pamp bars from a reputable dealer, then those can be proven real by a dealer who can test them.
But in a SHTF scenario, I'm going to trust government-backed coins the most as they are less likely to be faked as it's a federal offense.
A coin pinger is a cheap option to test coins and some bars, you can get a phone app to listen to the proper tones with it. I also have a neodymium magnet to test silver.
That being said, it was scary watching this video by Yankee Stacking showing an old fake US gold 1904 $20 Liberty coin, someone almost lost a lot of money and that thing looked real, but a pocket pinger would have caught it (for those who can't afford the $1000 or so machine tester like a Sigma Verifier).
It's rare to find fake ones like that, but it goes to show they exist, which is why the pinger I think is worth to have for $30.
Good advice. A pocket coin pinger is crucial for anyone who stacks. I actually just recently tested a coin from Perth Mint with my pinger and it checked out.
I want to buy $5k-$10K worth of gold coins.
I was thinking about getting U.S. minted coins from JM Bullion https://www.jmbullion.com/gold/
Any advice? Caution I should take?
If you only have $5-10k to trade, consider silver instead.
Just find a reputable local coin shop and pay in cash. No record of the transaction and at no point are you separated from your money without having the gold in hand.
A good coin shop won't try to confuse you with prices or try to upsell you on collector's coins when all you want is bullion. They will charge a premium on top of the spot gold price, and that depends on which product you're buying. Coins typically have a higher premium than bars. Make sure you ask and understand what their premium is before you commit to a purchase. Premiums can get very high when the physical supply is low, so even if there is a dip in price you won't often be able to take advantage in the physical metal market because the supply dries up.