I'm 15 and would like to start investing in gold and silver because the dollar seems to keep going down and down and I think it would be wise to get started now. I have a couple of silver dollars from 1803 but I would like to get gold and silver bullion coins and when I have enough money start buying the bars. I do not wish to buy online so would going to different coin shops be ok??
Thank You=]
Buying from coin dealers, is a good way to go. That's where I buy my Krugerrands. Tho I buy my Morgan silver dollars from ebay. It's hard to make much money buying the physical metals. Each coin dealer has to mark these up to make any money. And then when you sell them back, they buy at a discount.
Gold & silver is not a very good investment, since they pay no dividends, or interest. What your doing here is speculating, that the precious metals will continue to go up. Personally I think the metals are in a bubble here.
I've made much more money on my mutual funds, than I've ever made on my Kruggerands, and Morgan's.
One of the easiest ways to invest in gold is through an exchange-traded fund, exchange-traded-fund-etf or ETF for short.
Two examples of ETFs that simply buy, store, and insure physical gold are StreetTracks Gold Shares (which is traded on the New York Stock Exchange under the ticker symbol GLD) and iShares Comex Gold Trust (which is traded on the American Stock Exchange under the ticker symbol IAU).
Another relatively easy, but indirect way to invest in gold is through a mutual fund or ETF that owns precious metal-related companies.
Here is a link to a Web page that lists top performing precious metal funds.
http://biz.yahoo.com/p/tops/sp.html
There were less than 86,000 silver dollars made in 1803, so I hope you are certain yours are genuine. I would recommend searching for a local ANA approved coin dealer at the second link below. If you find the right dealer, they might be able to search at coin shows for your requests as well as teach you much valuable information. I hope that helps.
Find a reputable coin dealer or dealer in bullion in your area. If you want to learn more about buying the bullion, call the Tulving Company in southern California.