Gold coins: Which are the best Australian individual coins to buy for Grandchildren?

[Garpal Gumnut]

I'm getting a feeling I'm not much longer for this world, no evidence, just feeling much older than last year, and I want to spend a bit of money on the grandchildren. I started off with nothing so I'll leave it to Mrs Gumnut to distribute our gotten gains as she wishes as she is more sensible than I am.

I'm looking at buying some Gold Coins, probably from the Perth Mint, but I'm not tied to that source if I can be convinced otherwise. @Sean K is an expert and I note @qldfrog stores gold in bullion centres, there may be others out there who have some experience and skill who could advise me. Sean is presently out of the country probably being pickpocketed by some gypsies on the Pont des Arts in Paris as I write, so he may not see this post until later, if they haven't taken his phone as well.

I'm even unsure how much a typical coin costs and I realise they are linked to the POG and possibly special editions. I've had a look at the Perth Mint website but would appreciate some advice from people who have actually bought coins.

Do some coins appreciate in value more than others of a similar price? Obviously rare "2nd hand " ones of numismatic interest would vary very much in price. I've looked at some numismatic sites and magazines and got lost and I find the Perth Mint site difficult to navigate ... just me.

I've got 7 grandchildren and would like each to have a similar coin. My total spend would be up to $AUD 21,000, i.e $AUD 3000 each but less would be ok if the coins were suitable. Perhaps I'd need more. I honestly don't know. Thanks for reading this. In anticipation of advice from some members who have actually bought gold coins.

gg

 

[macca]

I'm getting a feeling I'm not much longer for this world, no evidence, just feeling much older than last year, and I want to spend a bit of money on the grandchildren. I started off with nothing so I'll leave it to Mrs Gumnut to distribute our gotten gains as she wishes as she is more sensible than I am.

I'm looking at buying some Gold Coins, probably from the Perth Mint, but I'm not tied to that source if I can be convinced otherwise. @Sean K is an expert and I note @qldfrog stores gold in bullion centres, there may be others out there who have some experience and skill who could advise me. Sean is presently out of the country probably being pickpocketed by some gypsies on the Pont des Arts in Paris as I write, so he may not see this post until later, if they haven't taken his phone as well.

I'm even unsure how much a typical coin costs and I realise they are linked to the POG and possibly special editions. I've had a look at the Perth Mint website but would appreciate some advice from people who have actually bought coins.

Do some coins appreciate in value more than others of a similar price? Obviously rare "2nd hand " ones of numismatic interest would vary very much in price. I've looked at some numismatic sites and magazines and got lost and I find the Perth Mint site difficult to navigate ... just me.

I've got 7 grandchildren and would like each to have a similar coin. My total spend would be up to $AUD 21,000, i.e $AUD 3000 each but less would be ok if the coins were suitable. Perhaps I'd need more. I honestly don't know. Thanks for reading this. In anticipation of advice from some members who have actually bought gold coins.

gg

I feel that all collectables are easy to buy but hard to sell at a fair price.

There are So many scammers now that you need to have a good profile on websites before people trust you, I have never sold anything online so no one was going to send me $5k for a set of coins.

Also, I did not want to have to meet some dude in a car park with $5k worth of coins in my pocket.

I had a collection of coins from the mint and found it rather hard to get a fair price, I was offered $11k from one place, another wasn't interested, another said we have an auction in 8 weeks time, and finally I tried another place and was offered $16k

What helped me was that it was nearing the Olympics and I had a lot of the 2000 Olympic sets so there was a demand for them at that time, which is why I waited until an Olympic year to sell them.

I have read that if you want to buy sovereigns you can do that at some bullion dealers by arrangement. They will also buy them back at a much smaller margin than collectable coin dealers.

The deal is done at the gold price +/- a small commission.

Preppers might like to have a few sovereigns in their secret stash as well

 

[Sean K]

I'm getting a feeling I'm not much longer for this world, no evidence, just feeling much older than last year, and I want to spend a bit of money on the grandchildren. I started off with nothing so I'll leave it to Mrs Gumnut to distribute our gotten gains as she wishes as she is more sensible than I am.

I'm looking at buying some Gold Coins, probably from the Perth Mint, but I'm not tied to that source if I can be convinced otherwise. @Sean K is an expert and I note @qldfrog stores gold in bullion centres, there may be others out there who have some experience and skill who could advise me. Sean is presently out of the country probably being pickpocketed by some gypsies on the Pont des Arts in Paris as I write, so he may not see this post until later, if they haven't taken his phone as well.

I'm even unsure how much a typical coin costs and I realise they are linked to the POG and possibly special editions. I've had a look at the Perth Mint website but would appreciate some advice from people who have actually bought coins.

Do some coins appreciate in value more than others of a similar price? Obviously rare "2nd hand " ones of numismatic interest would vary very much in price. I've looked at some numismatic sites and magazines and got lost and I find the Perth Mint site difficult to navigate ... just me.

I've got 7 grandchildren and would like each to have a similar coin. My total spend would be up to $AUD 21,000, i.e $AUD 3000 each but less would be ok if the coins were suitable. Perhaps I'd need more. I honestly don't know. Thanks for reading this. In anticipation of advice from some members who have actually bought gold coins.

gg

Locstat: Qantas Club Changi Airport for a 5 hour stopover. They're going to have to wheelbarrow me out.

I've only used the Perth Mint for my coin collection and will continue to. Bought online, bank transfer, no problems, delivered to your door in a week. I'm only buying them for fun and unlikely to sell. Nieces and nephew will have fun dividing them up once we croak.

As you would have seen doing a search of their site they come in various weights with different animals on them. There's a significant Chinese zodiac theme for some reason. Not sure if any of them would increase in more value than what they're currently advertised for. I know there's an authorised or recommended dealer in Melbourne who I would be selling them back to but not likely. The price is for the POG and the effort to craft the coins. I've got a few with Queenie on them so I do wonder if they'll be worth more one day. Maybe not because they'd be pretty common.

 

[ShareSuccess]

Not Sure about coins being a good long term investment,i Don't ( not that i'm aware of ha ha ) have children or Grandchildren Gumnut,you are a Lucky Man but i'll stick my nose in & say That the Best investment in my view is to buy a Blue Chip stock in your Name ( tax Reasons) & put the Stock on Drip until the youngest Turns 18 or 21 upon which the stock can be sold & the Funds split between your 7 Grandchildren....Depending on their age now,i think this could or may give them a good head start in Life & teach them a Lot about the Financial world & how it Works.

Not investment Advice,but something like SOL would be worth considering.....Second oldest company along side BHP on the ASX, so i can't see it going Broke anytime soon, but at the end of the day this is your choice & that of your financial advisor.....just thought i would throw my 5 cents worth in!....Good Luck with whatever you Decide to do

 

[rcw1]

I'm getting a feeling I'm not much longer for this world, no evidence, just feeling much older than last year, and I want to spend a bit of money on the grandchildren. I started off with nothing so I'll leave it to Mrs Gumnut to distribute our gotten gains as she wishes as she is more sensible than I am.

I'm looking at buying some Gold Coins, probably from the Perth Mint, but I'm not tied to that source if I can be convinced otherwise. @Sean K is an expert and I note @qldfrog stores gold in bullion centres, there may be others out there who have some experience and skill who could advise me. Sean is presently out of the country probably being pickpocketed by some gypsies on the Pont des Arts in Paris as I write, so he may not see this post until later, if they haven't taken his phone as well.

I'm even unsure how much a typical coin costs and I realise they are linked to the POG and possibly special editions. I've had a look at the Perth Mint website but would appreciate some advice from people who have actually bought coins.

Do some coins appreciate in value more than others of a similar price? Obviously rare "2nd hand " ones of numismatic interest would vary very much in price. I've looked at some numismatic sites and magazines and got lost and I find the Perth Mint site difficult to navigate ... just me.

I've got 7 grandchildren and would like each to have a similar coin. My total spend would be up to $AUD 21,000, i.e $AUD 3000 each but less would be ok if the coins were suitable. Perhaps I'd need more. I honestly don't know. Thanks for reading this. In anticipation of advice from some members who have actually bought gold coins.

gg

These are the one's to buy bloke, for mine:
Pool Allocated Gold Bullion Share: 999 1oz

rcw1 gold munger... Brisbane Gold Company, operates in Adelaide Street in Brisvagus. There is CBA bank across the road.

You pay too much for coins. Unless you get yourself in line to buy a coin which is not mass produced... The sale value back to the broker re 999 coin, is not inclusive of extra's in making the coin, the design and production, which is included when you buy, abit of a rip off really. Unless as stated aforementioned it is a rare 999 gold coin.

rcw1 holding physical.
EDIT: WEB PAGE

Gold Buyers Brisbane | Sell Gold Bullion & Gold Jewellery Brisbane

Highest Cash For Gold payments from our Gold Buyers Brisbane office. Live prices on website. Sell Gold & Sell Silver in Brisbane today no appointment needed.

www.brisbanegoldcompany.com.au

Kind regards
rcw1

​

 

[Sean K]

Not Sure about coins being a good long term investment,i Don't ( not that i'm aware of ha ha ) have children or Grandchildren Gumnut,you are a Lucky Man but i'll stick my nose in & say That the Best investment in my view is to buy a Blue Chip stock in your Name ( tax Reasons) & put the Stock on Drip until the youngest Turns 18 or 21 upon which the stock can be sold & the Funds split between your 7 Grandchildren....Depending on their age now,i think this could or may give them a good head start in Life & teach them a Lot about the Financial world & how it Works.

Not investment Advice,but something like SOL would be worth considering.....Second oldest company along side BHP on the ASX, so i can't see it going Broke anytime soon, but at the end of the day this is your choice & that of your financial advisor.....just thought i would throw my 5 cents worth in!....Good Luck with whatever you Decide to do

Fair points SS, but where's the fun in that? Nothing beats having a lump of shiney gold in your hand.

 

[ShareSuccess]

Don't Forget to buy 7 copies of Think & grow Rich by Napoleon Hill

 

[finicky]

@Garpal Gumnut
I'm rusty on all this but I found buying anything collectible or numismatic a pain in the arse. It's really a pretty silly business imo and I'm not a details guy anyway or willing to go into it in depth. Collectibles are anal retentive. I did get a bit obsessed by P.M Lunar Series 1 coins for a while but I just don't think it's worth it. End up being forced to sell stuff at a disadvantage at some point anyway - more sweat and time trying to get back your premium for a collectible. Burying a collectible is a nono and storage cost prohibitive. Your grandchildren will be stoked to get any gold coin that looks nice - chances are they won't have a clue as to what is collectible anyway and will end up selling for the brute bullion value. Eat your veggies, go light on the animal protein/fat and go for walks.

 

[Garpal Gumnut]

Thanks for the useful answers, all.

I am now 98% more knowledgable than when I posted. They will I hope, although it is probably a vain hope, be coins that will be passed further down the Gumnut chain as inheritance rather than being sold. If they do want to sell them it's not my problem, it is theirs.

I think I'll keep it simple and go with the Perth Mint. It's probably laziness and indecision that makes the site "difficult for me". I'll leave some time free just to do the deed, to find or wait for a suitable issue and decide the price I want to pay. A lotta knowledge in the ASF community. Thanks once again for the replies.

gg

 

[rcw1]

Thanks for the useful answers, all.

I am now 98% more knowledgable than when I posted. They will I hope, although it is probably a vain hope, be coins that will be passed further down the Gumnut chain as inheritance rather than being sold. If they do want to sell them it's not my problem, it is theirs.

I think I'll keep it simple and go with the Perth Mint. It's probably laziness and indecision that makes the site "difficult for me". I'll leave some time free just to do the deed, to find or wait for a suitable issue and decide the price I want to pay. A lotta knowledge in the ASF community. Thanks once again for the replies.

gg

Good morning @Garpal Gumnut
rcw1 went on an adventure outside the state... to watch a SoO game in Perth, thinking around 2022. rcw1 was released from the Far North ha ha ha h ha ha haha - direct flight Cairns to Perth rtn... We lost ): to bad how sad ... ): In fact Qld got smashed ... had afew rums to digest the hammering.

Never been to Perth before. Very nice people over there ... Went through the Perth Mint. Nice tour. PoG was good at the time for a buy, so bought some gold, nuggets and a coin.

Personally, rcw1 didn't like the crew that was working there, thought they were somewhat arrogant, maybe rcw1 got the wrong impression ... but don
t think so. rcw1 will stick with the mob along Adelaide Street...

Each to our own.

Have a very nice day, today.

Kind regards
rcw1

 

[houtman]

Thanks for the useful answers, all.

I am now 98% more knowledgable than when I posted. They will I hope, although it is probably a vain hope, be coins that will be passed further down the Gumnut chain as inheritance rather than being sold. If they do want to sell them it's not my problem, it is theirs.

I think I'll keep it simple and go with the Perth Mint. It's probably laziness and indecision that makes the site "difficult for me". I'll leave some time free just to do the deed, to find or wait for a suitable issue and decide the price I want to pay. A lotta knowledge in the ASF community. Thanks once again for the replies.

gg

Custom Gold Coins | Coin USA

Make a true gift to remember with high-quality custom gold coins. As a certified coin maker, we mint custom 24K gold coins of any design, quantity & complexity!

www.coin-usa.com

You could get a custom coin with your own image, "The Garpul", don't want them forgetting where it came from.

There may well be a secondary market here on ASF, perhaps...

(no idea if the site is legit)

 

[Joe Blow]

The ones with the lowest premium would be my recommendation. Gold is too expensive these days to be hunting around for rare gold coins. Stick with government issued bullion and coins that are widely recognised for easy resale when the time comes.

 

[Sdajii]

I won't get into specific coin recommendations because it's not my thing, but I do invest and trade and not just on the stock market online, and I like to find the best price for things both as a buyer and seller.

The above always makes me puzzle over friends' decisions to 'invest' in gold and silver coins by buying from dealers when they'll have to sell as a private seller. If they talk about them as wonderful investments I either politely smile or if they try to discuss them with me as an investment and I can't avoid the conversation they either end up agreeing it's more of a hobby for them or they get irrational and defensive.

...why are you not buying from a private seller who is struggling to sell them and will take a low price just as you will be if you want to sell?

If you yourself are not keen to buy from a private seller because you don't trust private sellers or don't want to deal with them, why on Earth are you keen to pay a premium to become the type of seller you personally would not deal with?

If the purpose is to buy an investment for your grandchildren (or yourself), buy gold rounds or bars etc. If you want to buy minted coins, it's more of a fancy gift than a good (efficient) investment. Of course, you may choose to buy coins to achieve a compromise between fancy gift and good value investment, but it doesn't make much sense to ask which coins are the best investment, because at least if you're buying from a reputable dealer, they're not the best investment.

 

[qldfrog]

Not Sure about coins being a good long term investment,i Don't ( not that i'm aware of ha ha ) have children or Grandchildren Gumnut,you are a Lucky Man but i'll stick my nose in & say That the Best investment in my view is to buy a Blue Chip stock in your Name ( tax Reasons) & put the Stock on Drip until the youngest Turns 18 or 21 upon which the stock can be sold & the Funds split between your 7 Grandchildren....Depending on their age now,i think this could or may give them a good head start in Life & teach them a Lot about the Finif you die as aboveancial world & how it Works.

Not investment Advice,but something like SOL would be worth considering.....Second oldest company along side BHP on the ASX, so i can't see it going Broke anytime soon, but at the end of the day this is your choice & that of your financial advisor.....just thought i would throw my 5 cents worth in!....Good Luck with whatever you Decide to do

Where i would differ?
If you give that share, you will pay CGT.
Or they will if you die
Worse, there is high probability not to say certainty that Australia will soon have death duty
And death duty means tax on gifts
So you will pay tax on cgt during sale or transfer, then extra tax on donation or inheritance.
Vs a gold coin purchased below $5k anonymously and given today or in a few decade without tax.
Plus gold is inflation proof so you know in 20y, your bullion coins will keep their purchasing power of today.
So do both: gold for real monetary gift and a few stocks to trigger their investments spirit but knowing the stocks will be a gambling and probably not worth as much if you keep the dividends before donations

 

[Garpal Gumnut]

As I've posted in another thread i decided not to buy any coins nor bar for tthe grandchildren. I sat down with Mrs Gumnut last night and we decided it was not good to give them "free money". They have enough as it is, secure homes and parents, lots of love and we and the other grandparents dote on them. Nobody ever gave either of us anything like gold when we were kids. We did learn how to study and work and why both were important, more important than free money.

So I suppose the decision was made for their well being rather than a dollar and cents thing. We also decided that small bar would be better than coins were we ever to change our minds.

Mrs Gumnut is the brains.

gg

 

[basilio]

I think its a sweet idea GG. As an interesting memento that kept value and offered something extra I think a gold sovereign would be a different idea. It has history . You could even make up a page on what important things happened in the year of each sovereign coin. The years would be random.

There may be some family history to the dates. A Birthday. Wedding, Death . Family history event., Grandparents births, weddings deaths

The fact that you took the trouble to find and write a page on what happened in that year would be well appreciated. You don't have to take down every event. Your choice. I suggest you could also enjoy doing such a research/story project for its own sake. It would have a lot of meaning for you and the grandchildren beyond a simple coin.

Stay well GG

Cheers

1896 - Wikipedia

en.wikipedia.org

https://www.apmex.com/category/57718/vintage-australian-gold-sovereign-coins

 

[Garpal Gumnut]

I think its a sweet idea GG. As an interesting memento that kept value and offered something extra I think a gold sovereign would be a different idea. It has history . You could even make up a page on what important things happened in the year of each sovereign coin. The years would be random.

There may be some family history to the dates. A Birthday. Wedding, Death . Family history event., Grandparents births, weddings deaths

The fact that you took the trouble to find and write a page on what happened in that year would be well appreciated. You don't have to take down every event. Your choice. I suggest you could also enjoy doing such a research/story project for its own sake. It would have a lot of meaning for you and the grandchildren beyond a simple coin.

Stay well GG

Cheers

1896 - Wikipedia

en.wikipedia.org

https://www.apmex.com/category/57718/vintage-australian-gold-sovereign-coins

Indeed @basilio . I share your sentiments. Although i have too many grandchildren to afford too much history.

And what of beauty.



gg