Monday, 24th January 2005 (3782 views)

Experts say that collectors looking to buy gold coins for investments would be better off buying stocks.

According to the Associated Press, collectable and rare coins can be extremely valuable however their worth is usually based on their historical value rather than the amount and type of metal they contain.

It said there have been a number of "shady" operators selling prized coins to collectors. In a recent case, a coin honouring astronauts in the Columbia space shuttle accident were only U.S. silver dollars that had been coloured.

"Among collectors, there's a saying: Buy the book before the coin," says David Sklow, researcher for the American Numismatic Association. He suggests that research needs to be done before buying a collectable piece.

Experts recommend that if you are looking for a gold piece for an investment, don't invest in coins. Mining stocks, commodity-oriented mutual funds and exchange-traded funds are better options.

 

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