FAQ

 

Who buys Gold?

Anyone can buy Gold.  Precious metals such as Gold, Silver, Platinum and Palladium have been tangible assets since their discovery.  Throughout history Gold has made many poor men rich, promoting trade amongst strangers and countries. The very dollar we spend is supposed to be based on Gold.  One common item to buy is a Gold coin. Gold coins come in a variety of designs from different countries that produce Gold coins. Anyone can own Gold, as you don’t need a finance degree or a stock portfolio.  Starting with buying one Gold coin at a time will help you build a Gold portfolio. Gold is an asset attainable for anyone.

 

Who should I buy Gold from?

There are good Gold firms and bad ones. Pacific Rim Trading International is an experienced third generation Gold business since 1992.  Questions about each coin should be asked like; What is the quality of the coin?  How is it held?  Why buy this coin versus that one?  You need to be able to trust your Gold firm.

 

Do I have to pay taxes on my purchases from Pacific Rim Trading International?

No, there is no sales tax on bullion purchases of gold or silver. PRT is located in Washington State where bullion is considered legal tender and exempt from sales tax regardless of the size of the order.

No, numismatic coins are considered exempt from sales tax. 

 

What is Spot?

Spot is the current market price of the metal, like Gold or Silver.  The spot of precious metals is always changing just like the stock market (every second). The Gold market runs 24 hours: United States Market, Asian Market, London Market, etc. To check back on trends of precious metals including Gold, visit our charts page by clicking here.

 

What is Premium?

Premiums are the additional cost of a precious metals like Gold which is above the spot price. The premium on precious metals includes costs like distribution, dealer fees and fabrication.  Specifically, the rarer the coin the higher the premium; based on the supply and demand. 

 

Why buy Gold coins?

Did you know that millions of Gold bullion coins were sold weekly?  Gold coins are great investments.  It is best not to plan on trading Gold coins for income, but rather as an investment.  Owning Gold and Silver coins holds history. Gold coins are more commonly used to sell coins such as; the American Eagle Gold Coin and Canadian Maple Leaf Gold Coin.

 

What is bullion?

Bullion is a refined and stamped weight of precious metals. Bullion coins are measured by the weight of the coin, such as 1 ounce, ½ ounce or ¼ ounce. You can also buy bullion bars which are typically owned by banks and governments. Bullion can also be used as legal tender.

 

To see gold bullion click here

To see silver bullion click here

 

What are Numismatic Coins?

Numismatic coins are no longer produced and are considered collectibles.  Numismatic coins are valued for their rarity versus the actual metal content/face value - there are some coins that have higher metal content and are considered very rare. Numismatic coins are worth more than their metal content/face value or the current spot value depending on their rarity.

 

What are some examples of Numismatic Coins?

• Pre-1933 Gold 
  • US Gold Liberty Type 1
  • US Gold Indian Head
  • US Gold India Quarter Eagle
  • US Gold St. Gaudens 
• Swiss Francs
• British Sovereigns

 

Why is there a clock during checkout?

The clock is there to give you FIVE (5) minutes to checkout to guarantee the price(s) of your purchase. With the price of Gold, Silver, Platinum and Palladium constantly changing the prices on PacificRimCoins.com is always changing to keep up with the current price.  Do not let the clock bother you, even if checkout takes longer than the original FIVE (5) minutes, the product is still going to be available for sale, although the price may change.

 

Why buy Silver?

Due to its affordibility, Silver is a good investment. There are a vast number of uses of Silver giving it potentially a substantial long-term gain.

 

Why buy Silver now?

Buying Silver now is a great way to diversify your portfolio at an affordable price. Silver has risen 20% in 2016 but still is easily attainable.

 

Why buy Silver coins?

Silver coins are more valuable than regular numismatic coins, having legal tender status. If there were an economic crisis, Silver coins are a great commodity to trade.

 

Why buy Silver bars?

Silver bars are a great way for a new metal investor to build their portfolio.  Silver is easy to store and can be obtained for a lower premium over spot cost.

 

What is the value of Gold pesos?

Gold pesos are available in the following denominations: 50 pesos, 20 pesos, 10 pesos, 5 pesos 2.5 pesos and 2 pesos.

 

Why buy Gold Pesos?

Gold pesos have high purity content.  They are easily acquired and very affordable.  Gold pesos have a low premium in relation to other Gold coins.

 

What is Palladium?

Palladium is a rare, white/silver metal that looks similar to Platinum. Palladium is more abundant than Gold or Platinum.

 

What is Palladium worth?

Palladium is generally worth half the price of Platinum and cheaper than Gold as well due to its higher abundance.

 

Compare Palladium versus Platinum

Platinum is a rare precious metal and looks very similar to Palladium at first glance.  They have similar practical uses in both the auto and jewelry industry.  Palladium is more abundant than Platinum leading to a much lower cost.  Platinum is a much denser metal.

 

What are Gold coins worth?

Gold coins are worth as much as their weight in precious metals. Typically have a higher street value versus face value due to purity and weight.  For example: the Gold American Eagle coin has a face value of about $5 and a street value of approximately $120 on up due to its high metal purity (which will be based on the current market) and weight.

See our Gold and Silver scrap calculator to find out how much your gold is worth.  The calculator has Gold and Silver categories broken down into purity and weight to show an accurate value of your Gold or Silver.  Pacific Rim Trading International does buy Gold and Silver - please contact us more information. 

Click here to find out value of Gold

 

What kind of gold should you buy?

This is a daily question for buyers.  Buying Gold is not a straight forward answer.  Buying Gold depends on what the buyer wants to do with the Gold.  If you are interested in buying gold as a hobby you should look at what appeals to you.  Many Gold coins have amazing historical stories designed with top notch art work.  If you are looking to hedge financial uncertainty diversify your portfolio while holding a tangible asset such as contemporary bullion coins. There are those buyers who want to hold Gold as capital. Gold coins with the most Gold were those minted before 1933.

 

When should I buy Gold?

Regardless of when you buy the Gold, realize that Gold is a FINANCIAL ASSET.  When the stock market goes down and there are financial crises in the United States, the price of Gold typically goes up.  Many individuals hold their assets versus gambling  in stocks of companies that risk going belly up.  The price of Gold fluctuates by the minute, hourly, daily, monthly, etc. Look at the average price of Gold at any specific time period and review the price of Gold during that time.  If you have any questions, feel free to call or visit Pacific Rim Trading International, with over three (3) generations of history and experience in the precious metals industry. There is no pattern that PRT have not seen and evaluated.

 

Is there a One Million Dollar Coin?

Yes, can you believe it?  In 2007, the Royal Canadian Mint made FIVE (5) One Million Dollar Gold Coins. The coin has a mass of 100 kg (which is 3215 troy ounces).  It is certified by the Guiness Book of World Record as the largest Gold coin of all times. The coin was beautifully designed by Stan Witten.  When asked why would Canada make a Million Dollar Coin, they said, "Because we can."