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Investing in Gold Coins
by Beth Lyons
If you are looking for a way to diversify your portfolio and you don't mind a little risk, you may consider investing in gold coins. The buying and selling gold coins is one investment you want to make with money you can afford to lose. While you can't have coins as part of a mutual fund, it can be an investment that you have on the side. Within a mutual fund account you can have precious metals fund which may be the way you prefer to go. That way you get to keep all of your investments in one place.
If you're still interested in branching out, perhaps sharing a hobby with a son or daughter, or learning a little bit about history, coin collecting can be both fun and lucrative. Gold bullion coins - like the American Eagle gold coins - are easy to buy and sell online. The US Mint sells several commemorative coins that can be used as investments. The coins are beautiful and rich in history. Many people buy them for those reasons and the investment part is simply an aside.
It's important to remember that gold coin prices can be volatile. Gold is a commodity and therefore your investment could be at an all-time high and an all-time low in the same week. If you are thinking of investing in coins because of the unstable economy, think again. Gold is not a good hedge against inflation. In fact, it's one of the worst ways to try to protect yourself against inflation. And if you are thinking of having some gold on hand in case of an emergency, look at recent history and you can see that gold, as a practical unit of money, was not useful in the aftermath of Hurricane Katrina.
It's always a good idea to diversify your portfolio, and if you want to have a precious metals fund as part of your portfolio, go right ahead. Limit it to less than 20% of your overall investments so that you are at least partially protected from any fluctuations on the commodity market.
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CNN Money on gold as he hedge against inflation. In the late 1990s.
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