A buyer asked my Tips to buy cheap gold coin before. I am not a gold coin dealers but I can find a cheap gold coins. Gold is a very good business if you know how to deal with it. If you had been reading my old post, Where to sell your gold coins, you might had been realized where I get my gold coins. The gold price had been going up over USD $1600 and I don't think it will ever stop with this kind of economy. Some people say commemorative gold coins are over price but you can still buy them at a below market price (Commemorative gold coins market price) if you can do what I am sharing in here.
How to buy cheap gold coins in Malaysia:
1. Buying them Online.
The best way to buy Malaysia gold coins is via eBay. Most of the time you can get the coins at gold value. Just look for reputable sellers in eBay and don't buy from anyone who have low positive feedback or low overall feedback. For newbies, I suggest you don't immediately buy gold coins in eBay, try cheap item first. After you understand how things work in eBay, you can start your gold coin hunting. With the introduction of Paypal in Malaysia bank system, buying online has been easy for everyone. With this method, you can buy them cheap but the item will be slower reaching your hands. Especially if you have problem with Malaysia Custom.
2. Ar-Rahnu/Pawn Shop
I get a lots of my gold coins from Bank Rakyat Ar-Rahnu and Pawn shop. Bank Rakyat has not accepting any coins without certificate anymore and its became a bit harder to find a new gold coins via Bank Rakyat Ar-Rahnu but you can still try your luck. I am always try making friends with any Ar-rahnu or Pawn shop workers. Asked them to help you distribute your phone numbers when they're people who want to sell/pawn their commemorative gold coins. But do remember, you need to be closed to the bank/pawn shop since most of the time, the owner want to sell them fast. You also need to make sure you can get a high amount of cash fast to conclude the transaction.
3. Among other collectors.
Other collectors are also the good way to find a cheap gold coins in your collection but most of the time, the price is not that cheap. For a start, try joining a group in Facebook, register with Malaysia Numismatic Society or any other numismatic group you can find. Trust is the big problem since not everyone know how to test a real gold. For me, this is where a friends in pawn shop will come in handy. I will meet the seller at the pawn shop and asked them for a help on checking/testing the gold.
4. Other methods
Other methods that I am using are finding them in mudah.my or some online forum that related to golds. You can still negotiating with the sellers most of the time. Sometimes, Gold investment company also have gold coins for sale. Most of them sell that coins according to their carat not their market value. Just make sure you know how to test for real golds. You also need to know Malaysia commemorative gold coins value. Make sure you knew your gold coin carat. Most gold coins are in 21K or .917 fineness but they're some coin with 24K gold. Also check if that coin a rare, rare coin have a high value.
Anyone investing in gold in here? Do you know that gold coins value is much more higher then their bullion value most of the time?
