Investing In Gold Doesn’t have to be Difficult.
Vermillion Enterprises is here to help.
How Should I Invest in Gold?
Vermillion Enterprises – THE BEST place to turn your gold into cash or turn your cash into a gold investment. At Vermillion Enterprises we have friendly customer service first and foremost. Additionally, we are a reliable and reputable local dealer. Plus, we take interest in your investment.
Investing in gold is undoubtedly one of the best investments you can make. For a variety of great reasons. It is portable, it is durable, it stores easily, and it can be used as collateral for loan agreements. The latter of which can be helpful and useful for someone who does not have credit cards for instance.
However, choosing which option to go with can be confusing or even frustrating. There are bars, rounds, and a plethora of options to choose from with gold coins!
If you have CA$H, we have coin!
If you have coin, we have CA$H!
Here at Vermillion Enterprises, we strive to give you the best customer service and when asked, the best advice on investing in gold. Whether you are looking to buy or sell gold, we are here to help! So, what are your options?
Investing in Gold: Bars vs. Coins
- Gold bars / generic gold rounds (Non-denominational)
- Gold Coins (Denominational/Currency)
- American
- Foreign
Is there really a difference?
On the outside looking in, no there is not a difference between them. Gold is gold, right? Not exactly. Let us examine the options.
Generic Gold Bars
For gold bars or generic rounds to be investment quality, they MUST be 99.5% or greater in pure gold. Anything less includes alloys. Which for coins, is ok. But NOT gold bars or generic gold rounds. Here’s why:
PREMIUMS UP:
- Gold coins have a denominational value as currency IN ADDITION to their gold value. Regardless of how many karats of gold are in them. Gold bars do NOT have a denominational value past their weight in gold. Which means, they are only worth as much as the gold within them. Weight and purity.
- Gold coins are also collectible items – which means their value can supersede the spot price of gold (or price of gold per troy ounce). Often including premiums. Applied at purchase AND resale.
PREMIUMS DOWN:
- Fractional gold bars or generic gold rounds may require less of a premium at time of purchase; however, at time of resale, you can get dinged. Why?
- In the State of Florida, if you sell a gold bar, whether it be fractional or full ounces, it MUST be reported. Weights and serial numbers, along with your Driver’s License, are recorded for the government. This is to protect against and track theft. In case they are ever reported stolen.
THE GOLD HOLD UP:
- A dealer MUST hold gold bars for 30 days before they can re-sell them. How does this affect how much you get back at the time of resale to a dealer?
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- The price of gold changes several times a time. In 30 days, the bars may not be worth as much as they are today. Or they could be worth more. Either way, it is a gamble and one a dealer must consider when paying you out.
- Most dealers pay out 90% -95% on gold bars, such as non-denominational gold bullion.
- Vermillion Enterprises typically pays 97%-99% on all non-denominational gold bullion.
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Coins are NOT affected by the 30 day hold and there is no tracking system regulated by the government on U.S. Gold Currency or foreign gold currency. Except in some cases of coins at resale (keep reading, we’ll get there!).
In Florida, U.S. Gold coins are NOT taxable. However, fractional Maple Leafs, Krugerrands, and gold bars sold for under $500 per transaction are subject to State Sales Tax. Purchases over $500 are not. Regardless of whether they are coins or bars.
Now let’s take a look at the coin options.
Gold Coins
Gold coin collecting and/or investing is NOT limited to just this list of coins. There are many gold coins available for collection or investment. For example, Pre-1933 Gold Coins. These coins offer a unique combination of history, value, and liquidity that isn’t found in modern bullion coins. However, not all are as intrigued with history and are looking for something more low key but affordable and easy to liquidate. Here’s 8 of the Best Gold Coins to Invest in!
As well as, always buying and selling investment grade gold coins & bullion at our Spring Hill coin shop. American Gold Eagles & Buffalos, Krugerrands, Maple Leafs, Pesos, Marks, Francs, Escudos, Pandas, Koalas, etc. are highly sought gold bullion coins.
AGE: AMERICAN GOLD EAGLE
If you want American Gold Eagles, come to Vermillion Enterprises today! We have a huge selection readily available to sell & are always looking to buy more!
AGB: AMERICAN GOLD BUFFALO
Looking for American Gold Buffalo coins? Come into Vermillion Enterprises today! We buy and sell American Gold Buffalo coins!
AUSTRALIAN GOLD LUNAR
Whether you buy or sell Australian Gold Lunar Coins, Vermillion Enterprises is here to help you along the way. A collectible choice such as the Australian Lunar coin is not only a MUST see, but a MUST have!
AUSTRALIAN GOLD NUGGET
Vermillion Enterprises – THE BEST place to get top dollar for your gold or turn your cash into an investment. We buy and sell Australian Gold Nugget Coins.
AUSTRIAN GOLD PHILHARMONIC
If you are looking to buy or sell gold Philharmonics, then you have come to the right place! Vermillion Enterprises buy(s) and sell(s) gold Philharmonics!
CANADIAN GOLD MAPLE LEAF
Vermillion Enterprises has Canadian Gold Maple Leaf Coins! And we want more!
CHINESE GOLD PANDA
The best place to buy or sell Gold Panda Coins is Vermillion Enterprises. If you are looking to buy or sell Chinese Gold Pandas, look no further! Vermillion Enterprises is here! We buy and sell – gold everything!
SOUTH AFRICAN GOLD KRUGERRAND
Vermillion Enterprises buys gold! Gold bars, rounds, coins, and jewelry. Including the 22k Gold Krugerrand. We buy and sell gold Krugerrands!
Golden Opportunity: Gold Coin Investing
Here at Vermillion Enterprises, we do recommend investing in Gold Coins over gold bars or generic rounds. Simply because of the added value and less stress for you when investing in this gold – whether purchasing or selling. Our recommended gold coins for investing are:
- American Gold Eagle
- Canadian Gold Maple Leaf
- Austrian Gold Philharmonic
It is recommended that you invest in 1 oz. gold bullion coins versus fractional coins; however, fractional coins will still be of a greater investment over fractional bars. Again, because coins are collectibles as well which means there is a higher premium paid for at time of purchase and paid on at time of re-sale. Especially considering there is no hold at time of resale as well. Overall making an excellent investment piece.
In addition to considering the options when making a purchase of gold, you should also consider the resale of your investment should you decide to sell later. The following applies to the State of Florida – reporting on a State level and Federal level.
Invest: Buy Gold Bullion:
** This applies to Foreign Gold Bullion / Coins, non-denominational rounds and bars **
- There is NO sales tax in the State of Florida on US Gold coins, or any U.S. coins.
- Purchases UNDER $500 = State Sales Tax.
- including fractional Maple Leafs, Krugerrands, and ingots.
- Purchases OVER $500 = NO State Sales Tax.
- Buying Over $10,000 & paying in Cash/cash equivalents = Form 8300 MUST be filled out and reported
- Even if you split who’s paying in Cash – if the transaction total is $10,000 or more, and cash is used to pay it – it MUST be reported.
- We accept payment in the form of cash, wire transfer, or check. Please note, checks will be held for 10 business days before product delivery.
Invest: Sell Gold Bullion:
** This applies to U.S. and Foreign Gold Bullion **
- If you sell 25 coins or more of the Krugerrand, Maple Leaf, or Mexican Gold Onza, dealers are required to report the sale on Form 1099B.
- Applies to total sales within a 24-hour period.
- ***The Federal Government does not require reporting a sale, at any quantity of the following coins:
- American Gold Eagle
- Australian Kangaroo
- Austrian Philharmonic
- Chinese Panda
- British Britannia Series
- Australian Lunar Series
- Selling Over $10,000 and receiving cash/cash equivalents = Form 8300 MUST be filled out and reported
- Payment via check or wire transfer does NOT require Form 8300
Investing in gold can be complicated. Vermillion Enterprises strives to take the complication out of it. If you have any questions, or want to know more about investing in gold, please stop by the shop today! We will be happy to assist!