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Reality Check: Don’t Assume Your Gold Coin Will Sell for This Much

If you are considering investing in rare gold coins, you may have heard that an extremely rare gold coin was recently sold for a record 7.4 million dollars, brokered by Blanchard and Co., the New Orleans-based coin and precious metals company.

The doubloon, this rare gold coin, is one of six coins of this type; however, this coin differs from the others in that the hallmark is punched on the eagle’s breast, whereas the other five have the mark on the eagle’s left wing.

This coin contains 26.6 grams of gold and was minted by the goldsmith Ephraim Brasher in 1787. At the time this coin was struck, it was worth about 15 dollars an ounce. However, because of the ever-increasing price of gold, the coin was sold in 2004 for $3 million. It has doubled in value since the last time it changed hands, due to the fact that gold has increased in price per ounce.

Although this investment paid off for someone, not everyone will be so fortunate when investing in rare gold coins. With stories like this and the fact that the price of gold continues to increase, many people are seriously considering investing in gold coins and rare numismatic coins hoping that their collections will increase in value over time.

Such gold coins are few and far between, and consumers need to beware that they may lose money if they don’t make the right investment choice.

Investing in gold coins requires careful planning and some knowledge about coin collecting. Before someone purchases a coin, they should know how to avoid gold coin scams and how to minimize making costly mistakes that many novice coin investors make when collecting coins as an investment.

Because the price of gold is so high, many unscrupulous sellers and unethical coin dealers have entered the market to try and make some quick cash. Sadly, many consumers are getting ripped off when purchasing rare gold coins.

There are still many gold coins worth collecting, but do yourself a favor and do your homework so you do not become a victim of coin fraud.

If you have been a victim of gold coin fraud, call a knowledgeable Texas coin fraud attorney at the Voss Law Firm at 888-614-7730 for a free consultation. Also, request a complimentary copy of coin fraud attorney Bill Voss’s book, Coin Fraud – Is Your Investment at Risk?
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The Voss Law Firm, P.C. represents clients on a local, national and international basis. We proudly serve companies and individuals along the Gulf Coast and around the globe on a contingency fee basis. Our law firm collects nothing unless we recover on our client's behalf.

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