The moneychanger website has been updated and just reading through it and came across the following http://the-moneychanger.com/commandments.phtml A taste Ten Commandments For Buying Gold & Silver : I. Always take delivery II. Never buy premium if you can avoid it. III. Buy bullion for business, numismatics for fun. IV. Buy silver first, then gold. V. Buy small gold first, then large. VI. Never buy exotic coins or modern rarities or anything you don't understand. VII. Know your dealer. VIII. What governments can't find, they can't steal. IX. Never swap bullion coins for U.S. $20 gold pieces. X. Never break the law ** there are also suggestions on how to spend $5k on PMs , and all the way up to $75k
Link is broken for me. I fail to see the reasoning behind this one. The slighter weight of the $20 piece is made up by the premium, at least in the US.
I think Rule IX. Never swap bullion coins for U.S. $20 gold pieces is a derivative of the rules below II. Never buy premium if you can avoid it. III. Buy bullion for business, numismatics for fun like you have pointed out in your post that the slighter weight is made up by the premium. ( partly Numismatic premium ) This is as good a list as one can stumble upon when they are just starting out. It would be interesting to come up with Rules to follow if one has already been stacking for quite some time and has at least 150 oz silver and 2 oz gold and what to do next... ( something i dont qualify to talk about yet ! ) hehe
My main rule is buy numismatics at bullion prices and sell at numismatic prices. Get to know your coins even if you're just a PM bug - there's margin to be had & reinvested. I would gladly trade 1oz coins for $20 gold pieces in the right condition.
