Why Doesn’t SchiffGold Sell Numismatic (Collectable) Coins?
Numismatic coins are valued not only for their metal content, but also because of their collectibility. Typically, numismatic coins fetch a higher price than a bullion coin containing the same weight of gold or silver.
Many things factor into the value or numismatic coins including, their rarity, condition, mint marks, specific dates and more.
The value of numismatic coins is highly subjective.
Because SchiffGold values its customers and only sells high-quality products for investment purposes, it does not deal in numismatic coins.
There are several reasons SchiffGold spurns numismatic coins.
- Due to the subjective nature of collecting, it is difficult to accurately value numismatic coins.
- Numismatics are easier to counterfeit and harder to authenticate than bullion coins.
- Numismatics aren't nearly as liquid as bullion coins such as American Gold Eagles. While bullion coins are accepted at near spot price around the world, there is no ready market for numismatics.
- Because numismatic coins typically come with much higher premiums, investors often lose money when they try to sell. Dealers typically sell numismatics at prices of 30-50% or more over the coins’ bullion value. A large chunk of that will simply go into the dealer’s pocket.
You can learn more about the scams often associated with numismatic coins in our free Classic Gold Scams Report.