Disclaimer: We are supported by our readers. We may receive compensation from links on this page if you use products or services because of our expert recommendations. Please read our Advertising Disclosure.
Gainesville Coins is a company with headquarters in Lutz, Florida that is a precious wholesaler.
This company was started back in 2000 and it has become one of the most popular gold bullion dealers both in the state and country. It has a wide range of options for customers to choose from. Gainesville Coins can likely be of help when you need a diversified investment portfolio.
Before we get started:
Inflation and rising interest rates has destroyed many people's savings. Many investors feel defeated and helpless, but you can fight back.
Gold and other precious metals have been used to protect against inflation for thousands of years. And when you hold physical in a tax-protected savings account, it gets even better.
Opening a gold IRA can sound complicated, but it's really not.
That is why we created a list of our most trustworthy investment companies, to make comparing and choosing the company best suited to your needs as easy as possible.
Look to see if Gainesville Coins was selected to our "highest recommendation" list this year!
Get a FREE Gold Investing Packet from our #1 recommendation, by clicking the button below:
Protect Your Retirement Savings from Inflation & Taxes!
This company’s operation started in January 2000 and the headquarters are in Lutz, Florida. The three contact names of this company are similar, which means that it is being run by people of the same family.
According to the company, they have focused on selling their products using wholesale pricing because they have a lot of inventory. That means their prices are lower when compared to smaller dealers.
For most of their products, they usually use what is known as tiered pricing which can benefit customers because they can get discounts if they choose to buy a large amount. They also have a minimum order requirement when you sell or buy from them.
The company is a member of the American Numismatic Association (ANA), The Certified Coin Exchange (CCE), the Industrial Council for Tangible Assets (ICTA), and Coin Net.
Gainesville Coins is also a distributor for many Mints across the world and they are also government-authorized. They include U.S Mint, Royal Mint (UK), Monnaie de Paris (France), Royal Australia Mint, and the Pert Mint (Australia).
Gainesville Coins Products
There are many gold and silver options offered by the company to customers across the country. These products include:
The company offers three major types of Gold bullion. These are:
Gold Bars: The conventional way of buying gold bullion is in the form of a coin. You cannot use bars as legal tender. The value of gold bars is determined by the AGW (Actual Gold Weight). Gainesville makes it easy to buy gold bars online.
Gold Coins: This is considered to be the safest way of buying gold. These gold coins are backed in credit and faith by the government offering them.
Pre-1933 Gold coins: Many countries used to make gold coins before 1933. President Franklin Roosevelt outlawed private gold in the US in 1933.
There are different reasons people have when buying silver. Some buy them so they can sell them later at a higher price while some do it for artistic purposes. The company offers silver rounds and silver bars from trusted brands that include:
When it comes to precious metal IRA, you are going to have two options: Traditional IRA and Roth IRA.
Traditional IRAs are going to be only taxed when withdrawing because they are funded before tax funds. Roth IRAs are funded with after-tax funds. You don’t have to worry about getting taxed when you withdraw the funds. You can decide to have both of these options.
You need to talk with a professional before you can get started with this process. Gainesville Coins is experienced with both of the above options.
Take time to research and explore the pros and cons of each of them before making an informed decision. Try to learn as much as possible before you can make a decision that works best for you.
What is Precious Metals IRA Rollover?
The main goal for most investors when they are facing a volatile market is protecting the purchasing power of their money. The safe fixed income investment out there are not paying a good return on investment and inflation is always a big concern.
When you invest in metals, you take the action of protecting your retirement with an investment that isn’t backed by the dollar but by a tangible asset of physical gold. If you want to roll over your 401k to a gold IRA, you can do it. You won’t face any penalties or get taxed because of that.
If you have left a company and your 401k is there, then you have the option of rollover those funds to a traditional self-directed IRA. When these funds get deposited into the IRA, they can then be used in buying silver or gold.
It is also possible to free up the funds from your 401k if you are still working for the company hosting your 401k account and then use it to buy a gold-backed IRA or physical gold. This option is known as in-service distribution, but you first need to find out if it is available.
One thing you need to keep in mind is an in-service distribution isn’t a loan, it is funds being distributed that can be rolled to a self-directed IRA. There are no tax consequences when the rollover happens within 60 days.
One important thing you need to know is different plans have different rules, which makes it important to first find out whether your 401k provider offers this option. If they do, you are going to be guided through the process.
Why should you choose Gainesville Coins?
There are many reasons for choosing Gainesville Coins when you want to invest.
When people invest, they are looking for a place that gives maximum rewards. If you want to buy assets at competitive prices, then GC is a great option.
They offer most of their products at a wholesale price. The company has a large inventory spanning many categories.
They have a lot of options to choose from which means you can easily find what works for you based on your personal preferences and budget. There are three types of products.
They are Numismatic coins, bullion products, and modern collectibles.
One of the most important things when investing is transparency. Gainesville Coins has transparent policies that will give you peace of mind when you need help with your investment.
They make sure their customers get the best customer service and make the most out of their investments.
Custodians and Storage
One concern people have when investing in precious metals is safety and storage. GC has storage solutions for its customers. You don’t have to worry about the safety of your precious metals.
The company is also going to liquidate your investment when you want to sell.
The company uses a fully segregated storage system. This is pooling together assets from different customers. You are going to get what was stored in the vault when it is delivered.
If you decide that you want to liquidate your assets, then that is going to be done at your request. You can also choose to have them delivered.
You can get your funds as a check in the mail, held in the account for future purchases, or sent via a wire transfer. You don’t have to worry because all the assets stored are insured.
You are going to be billed quarterly for the storage fees. You are charged a minimum of $15 a month as a storage fee.
When shopping for precious metals, you will see some offering free shipping. What many don’t realize is they usually include the shipping cost in the price of the metals.
Before you place an order with Gainesville Coins, they will give you an easy way to determine the shipping fee. When you have added all the items to your shopping cart, you need to type the shipping code into the shipping calculator.
Best Ways of Buying Gold
You have three options when it comes to investing in gold. Each of these options comes with its pros and cons.
This is seen to be the most cost-effective way to buy gold. This gets traded across the world in major hubs like London and Hong Kong.
Bars are considered to be bullion because they are 99.5 percent gold or more. Physical gold comes in different forms, but all of them are tangible assets that someone can hold.
Gold bullion coins are issued by the government for purposes of investment. Gold bars are made of investment-grade gold, just like bullion coins.
This is the preferred way of buying gold for an individual retirement account. The most popular modern gold coins are the American eagle, Canadian gold maple lead, Chinse gold panda, etc.
Most antique or numismatic gold coins are dated before 1933. The gold coins were at one time recognized as legal tender. Numismatic coins are those carrying collectible appeal and they are limited in numbers.
Spot Price Definition
The spot price of a metal is the price that is currently trading on the global market. Spot prices are the price of the metals for immediate delivery, which is not like future prices. The spot prices of precious metals are going to be determined by supply and demand.
This is the case whether it is silver spot prices, gold spot prices, palladium prices, or platinum prices.
Financial institutions, investors, and metal dealers use live spot prices when calculating the price at which precious metal products are sold and bought. This is used whether it is coins, bards, financial instruments, or bullion.
The spot prices are going to be used when determining how precious metals are traded and sold on the open market.
Gainesville Coins Online Reviews
This company is a renowned precious metal dealer that has its HQ in Florida. They offer their clients a wide range of options when it comes to assets they can buy or sell. They have some of the best prices on the market.
They can offer competitive pricing on their products because they have a large inventory. They sell at a wholesale price, which gives customers a chance to get the assets at a good price.
One challenge people have raised when using the company to buy is how often the products tend to be out of stock.
Reasons for Gold Ownership
It has intrinsic value
Gold has become a popular asset used by investors to shield their portfolios from unforeseen economic events. This is what has made investing in gold a popular option for investors.
It is divisible
It is easy to divide it into smaller pieces which allows it to be used as a medium of exchange when dealing with smaller items.
It is durable
Gold bullion can depreciate over time and can survive natural disasters.
The Gainesville Coins portfolio tracker makes it easy for you to track the performance of your holdings. This is a free service that makes it easy to track the precious metals you have in your portfolio and how they have performed throughout history.
Pros and Cons
There are pros and cons with Gainesville, which is the case with every investment firm out there. You should look at both the pros and cons before making an informed decision.
Gainesville Coins is a company in the precious metals sector. It has been around for over two decades and has built a good reputation over that time. They offer customers a large inventory they can choose from.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
Or, if you like what you read about Gainesville Coins, continue to their website below.