You can take multiple avenues when you decide to start investing in gold. You may choose to open a Precious Metals IRA or roll over your current one. You may want to invest in gold bars or bullion to store at an approved depository and watch as your money grows. You can also decide to invest in gold coins, which have many avenues within themselves. Just like collecting anything else, some gold coins are more valuable than others and can be a fascinating hobby to get into. One of the factors that help determine the value of gold coins is coin population. Keep reading to learn more about coin population, what it means, and how to get started investing in gold.
What is Coin Population?
According to the Professional Coin Grading Services, also known as PCGS, coin population reports profile the number of coins certified at a given grade for each date, denomination, mint mark, and variety.
There are a wealth of different coin population reports you can find depending on the company that makes them. Finding coin populations is done through these population reports and is very important to collectors, especially when establishing a set. Third-party certifiers compile these reports and, while they are a helpful tool for coin population, there are many factors to consider with coin population and using population reports. Some of these factors, also according to PCGS, include:
- The values of many issues, such as most proof coins minted after 1954, do not justify submission to PCGS for grading.
- The populations reported herein for such coins are therefore significantly lower than the actual numbers available in the marketplace.
- The information contained herein is compiled from the computer database maintained by PCGS for this purpose.
- Information is posted to this database on a daily basis, and population figures for any given coin can change substantially over a short period of time.
- These population figures represent the number of coins processed from PCGS and may not reflect any reduction for coins that have been lost, destroyed, or removed from PCGS holders.
- Note that dealers often remove coins from PCGS holders and re-submit them in hopes of receiving a higher grade. Sometimes the dealers return the old inserts to PCGS so that coins can be removed from the Population Report, but sometimes they do not.
- PCGS makes reasonable efforts to maintain and publish accurate information, however, it disclaims any responsibility of liability for the accuracy or completeness of the information contained herein.
- Certain varieties recently recognized by PCGS are now included in this Population Report.
- The populations reported for these coins may be artificially low, and not representative of the actual number of these coins available in the marketplace.
Why is Coin Population Important?
Coin population is essential when determining the value of a coin. The importance of coin population and its link to a coin’s value comes down to simple supply-and-demand economics. Suppose a coin is determined to be rare; the value skyrockets because demand will be very high. On the other hand, if the coin population is high for a particular coin, demand won’t be very high because it is easy to find. This makes the coin less valuable to collectors.
According to CoinWeek, for many dealers and collectors, population information is vital when establishing the price for a coin. Pricing a coin with a population of 200 is much easier than for one with a population of two. There will be much more auction information or accurate price guide listings. Low-population coins are always in demand and can sometimes bring staggering prices at auction. In general, population information has become one of the most essential tools available to collectors. The information is beneficial but should be used with the educated knowledge that variables (like the ones previously mentioned) should be considered.
Gold Investing and Purchasing Gold Coins with Priority Gold
When beginning your investment journey with gold, it can be challenging to find a way to start. There are so many avenues to consider depending on your financial objectives, budget, investing experience, and more. Investing in gold is one of the best things you can do with your money, no matter how you invest in it, because gold is a hedge against inflation and will stabilize your portfolio. It becomes more valuable as the dollar’s value decreases, and even more so for rare gold coins with a low population.
If you are ready to purchase gold coins and invest in gold to protect your savings and secure your future, we can help. Priority Gold is one of the most trusted precious metals dealers in the United States with BBB A+ Rating, AAA Rating with Business Consumer Alliance, and 5 Stars Rating with TrustLink.
We specialize in providing precious metals investment services with Security, Liability, and Great Convenience for customers. Our team is committed to helping streamline their precious metals purchases at a fair price, selecting the proper precious metals portfolios, and meeting their critical financial objectives.
We offer Free Storage for qualifying Gold & Silver IRA accounts, a fast & easy gold buying process, and smooth IRA Transfer. Priority Gold guarantees the highest customer service standards, which come with honesty, professional conduct, and the Ethical Code of Business.
For more information, visit us at prioritygold.com