Flagpole wrote:
ANYTIME you thing ANYTHING is going to go UP, UP, UP, you'd better rethink that. Nothing is guaranteed.
I am almost certain that Mrs. Flagpole can vouch for this...isn't that why you're so often at half-staff, Flags?
I need some advice on an inheritance of gold coins.
Non-Running
Finance/Jobs
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Rule #1: Don't ever tell the public that you got an inheritance of gold coins. :)
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More tips wrote:
There aren't many rare dates.
Are there many rare anythings?
I think something is rare by virtue of there not being many of it.
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b varsity wrote:
i am 17, and just inherited my grandfathers entire coin collection. I really do not care for a coin collection, and my dad says I should just hang on to them for a early retirement. I know gold is pretty high right, I was thinking maybe I should just sell them to a person that buys gold https://www.moneycontrol.com/news/brand-connect/the-5-best-gold-ira-companies-reviewed-11885391.html.
I have hundreds of silver coins, (Dimes, Quarters, Half Dollars)
187 gold coins that date back to the late 1800's.
Many of them are the full ounce gold coins, but they are vey old.
Any advice?
Would like to see your advice, did you find any company for investment? Let me know as i am looking to have some rare coings in my collection
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Investing in Gold Individual Retirement Accounts (IRAs) through gold coins has gained popularity as a strategy for diversifying retirement portfolios and securing financial futures. This approach allows investors to combine the traditional benefits of gold investment with the tax advantages and structured savings of an IRA. Understanding how to include gold coins in an IRA and the benefits of this strategy can provide a robust foundation for long-term financial security.
---Choose a Custodian: Select a custodian that specializes in precious metals IRAs. The custodian will facilitate the purchase, storage, and management of the gold coins within the IRA.
Open a Self-Directed IRA: Establish a self-directed IRA with the chosen custodian, allowing for the inclusion of physical gold and other precious metals.
Fund the Account: Transfer funds from an existing IRA or make a new contribution to the self-directed IRA.
-Purchase Gold Coins: Work with the custodian and a reputable dealer to purchase eligible gold coins. Ensure that the coins meet IRS purity and origin requirements.
-Secure Storage: The gold coins must be stored in an IRS-approved depository. The custodian will arrange secure storage, providing peace of mind regarding the safety of the investment.01 -
You are 17 and hopefully have a lot of life ahead of you. No need to act hastily. Your grandfather spent a lifetime collecting these coins if you were to sell them off you would come to regret it. Hang on to them or take time to learn about what you have understand their value get them graded/appraised etc.
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Keep them and maybe start adding to the collection. Study the coins and use this as an opportunity to connect with the stories of your ancestors.
Cashing out your inheritance early indicates a high probability you will develop severe money problems in the future.
No matter what, you'll need to put in some time and effort to understand what you have or you'll wind up getting fleeced by a mature collector who'll use his hard earned experience and wisdom to make money off of your ignorance.
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Check the date moron. He’s 30 by now and likely lost a fortune by selling the gold then rather than now.
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