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Yes, you can buy gold with cash in Atlanta, but it’s worth knowing a bit more before you jump into the field. Gold coins are valuable to collectors and investors alike, but they’re valued and assessed quite differently. If you’re looking to set aside money for retirement or you simply want to indulge in a new hobby, it’s a good idea to compare the two and appreciate the distinctions. Collecting and investing aren’t the same.

Collecting

There’s something truly satisfying about owning a part of history. Whether it’s antique furniture or an old coin, it gives you a sense of connection to the past. It’s also not a bad way to develop an appreciation of how much things have changed over the years. Coins have been vastly altered throughout the years and not merely in terms of their production or materials.

Whether you’re a fan of pirates or a history buff, coin collecting may be a perfect hobby, but it’s certainly not the same as investing in coins. Coin collections are prized for their rarity. An old penny or nickel that’s no longer in print and had a limited run will be far more valuable than a coin that’s even older but was readily available when it was in circulation. A collector looks for the uncommon, hard to find, and historically significant. Investors have a very different approach.

This doesn’t mean that coin collections lack value. Coin collections can be immensely valuable in their own rights. Some collections are literally worth millions of dollars, but collectors are unlikely to ever part with their most sought-after coins. It’s not only that having a great collection is prestigious. These coins are preserved for their cultural and historical significance. It’s a way of preserving the past. While the dollar-based assessment of a collection may be quite impressive, it’s not the main reason that people collect coins.

Investing

Investing is something else. Gold coins make a great investment because gold tends to increase in value over time. This is true of investing in any commodity. The idea is to economically protect yourself against unexpected downturns in the market. Since gold and other precious metals tend to be pretty consistent in trending upwards, it’s unlikely to be a bad investment.

In this case, gold coins aren’t treasured because of their rarity or for having a unique story to tell. The gold is simply assessed based on its purity and the amount or total weight. The good thing is this means it’s relatively easy to identify what your coins are worth. Making a judgment of coins that are rare and unique is much more challenging.

Pile of gold coins

Coins

Gold coins can be a wise investment, but some of them do have other value. Gold doubloons and ducats are part of American history, and they were accepted as currency at one time. Owning a part of history and an element of a cultural legacy is worthwhile in its own right even if you never have any intention of selling.

Investors look at things another way. Although no one is interested in destroying something of historical significance, gold coins may be sold and melted down. Metal refining is part of the business. Whether you’re an investor or collector, always be certain that you’re working with an established buyer or seller with a sterling reputation and well-known presence in the marketplace.

When you buy gold with cash in Atlanta, be certain that you know your purpose and end goal. Contact Elan Diamond Group at 678-798-8865 if you have any questions or would like to know more.