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How to Buy Gold Coins in Houston, Texas

Many Americans purchase gold coins to protect their wealth from inflation, fund their IRA or because they collect coins, and those choosing to purchase gold coins have many options. As examples, they may select gold American Eagles struck by the U.S. Mint, foreign coins such as the Canadian maple leaf or older coins such as the $20 Augustus St. Gaudens-designed "double eagle," which was minted until 1932. If you reside in Houston, Texas, purchasing any of these gold coins or others is a straightforward process, and knowledge of the Sheldon Coin Grading Scale can assist you.

Things You'll Need

Current copy of The Official Red Book - A Guide Book of United States Coins

Instructions

- 1
  Decide if you wish to purchase U.S. minted gold coins or coins struck by another government. One advantage of purchasing gold U.S. coins is that they have status as legal tender, whereas foreign coins do not. Another advantage of purchasing gold American Eagle coins is that the U.S. government has certified and guaranteed the weight, gold content and purity of these coins.
- 2
  Decide whether you wish to acquire professionally graded coins or ungraded coins. Professionally graded coins carry higher prices, because the condition of the coin is guaranteed and the coins have been encapsulated in tamper-proof packaging. As an example, a professionally graded proof American Eagle that grades as PF-70 on the Sheldon Grading Scale (meaning it is a perfect coin with no flaws or imperfections) will cost significantly more than an ungraded uncirculated gold coin of the same denomination.
- 3
  Contact several Houston-based coin dealers. Look in your telephone directory or conduct a search via the Internet.
- 4
  Explain to each dealer that you wish to acquire gold coins of whatever type you have determined best meet your needs based upon the decisions you made in Steps 1 through 3.
- 5
  Request price quotes from each dealer for the coins you wish to acquire. Compare prices to ensure sure you find the lowest one.
- 6
  Visit the dealer you have selected and complete your purchase using your credit or debit card, cash or certified check. Take your coins with you.

Coin Collecting