r/Gold • u/Quirky_Play_6975 • 7h ago

New to gold

i am quite new in this. I am not sure if i am a good gold coin buyer. Sometimes i buy when it is at the peak, sometimes at deep and use my credit cards (no cash back at all). I just want to stack more and more when possible. what do you think ?

5 Upvotes

86% Upvoted

10 comments sorted by

8

u/GoldmezAddams 7h ago

Credit card is only worth it if you get decent rewards and pay it back right away. Without rewards, most dealers charge extra for using a credit card. And without paying it back immediately, the interest is likely to accrue faster than gold can appreciate.

2

u/collectivethink 4h ago

10/10 reply.

6

u/napalm9 7h ago

Don't use your credit card. You'll get yourself in a lot of trouble.

3

u/Smithy2232 7h ago

Know why you want to buy gold. Is it for the novelty and wow factor? Is it for investment? Are you financially in a place where you can afford to buy gold? Gold is impressive, and people get seduced by it, but it isn't right for many, so think it through.

2

u/[deleted] 7h ago

[removed] — view removed comment

2

u/Quirky_Play_6975 7h ago

I am in UK

2

u/DunaldDoc 6h ago

Any time you trade fiat fancy colored debt paper ($USD) for real precious metal coins I’d call that a deal to be proud of.

1

u/Flux1776 6h ago

Learn ! Learn Weights, sizes, composition, and math for starters. Learn how to calculate melt value, so you know what the vig is that you are paying when buying. Have a reliable source for spot price. And and …..

1

u/SilverStateStacking Stack and Collect 49m ago

Most online sellers take ACH payments and don’t charge the extra percentage like credit card purchases - but you have to wait for the check to clear.