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Have you ever held a gold coin in your hand? It's amazing! When you first hold a gold coin, the luster and weight immediately tell you why gold coins have been the standard in storing wealth for all of human history. So what do gold coins have to do with saving money for your mortgage down payment? It's actually very simple: gold attracts wealth. Some people call it attraction, others call it luck. Whichever you prefer, if you own a gold coin you will earn more income. Wealth will be attracted to you and you will save enough money for your down payment sooner than if you did not own the coin. Buy a gold coin and give your luck a boost.

Which Gold Coin Should I Buy?

There are two types of coins, those bought for their rarity or numismatic value and those bought for their precious metal bullion value. I recommend buying a one troy ounce bullion gold coin because they are much more affordable than numismatics and also for the same price you will get much more gold metal content which is the whole point of buying the coin (gold attracts wealth). Now that we have decided to buy a one troy once bullion coin, there are many selections. There are 22 karat coins and also 24 karat coins. Due to their durability, I recommend buying a 22 karat coin because they are much more resistant to nicks and scratches. The two best 22 karat coins to invest in are South African Krugerrands and US American Eagles. If you decide to go the 24 karat route, US Buffalos and Canadian Maple Leafs are the best choices. All four of these coins are very popular and readily exchangeable at coin dealers all around the world.

Where Should I Buy My Coin?

I will start off with where you should not buy your coin. I would be very careful about buying it online, especially if you are buying it from a person or website who is not well known in the gold coin business. Gold is currently trading around $750 per ounce which means you will end up paying around $800 for your one ounce coin. This is a large investment and you definitely want to be careful so you don't get cheated. If you buy online, it's definitely worth paying a little extra to buy from a large brand name reputable store. One of the best dealers that has been in business for many years and has an online presence is Blanchard and Company. You can trust Blanchard and I recommend them. Another great way to buy your gold coin is by visiting your local coin dealer. The benefit of this is you get to examine the coin before you buy it so you can buy one in great shape. Also, you will get to talk to people in the store to understand which coins they have available. For more information, you may wish to check out Gold Why's article on reputable gold stores.

Should I Buy More Coins? Will This Attract More Wealth?

This is a tricky one. I definitely believe the more gold you own the more wealth you will attract. At the same time, there are two considerations you must make. First, the purpose of this website is to provide tips for saving for your home loan down payment. Coins are a buy and hold investment. Even when you buy your house, you will want to retain your coins so your luck remains high. Why would you want to sell a financial instrument that brings you wealth attraction? It is a scary thought to sell something that increases my luck. Since your main goal is to save for your down payment, it's ok to make other investments such as coins to give you added financial attraction but you will not want to dilute your savings too much. Second, gold coins are very expensive and valuable and owning too many might put you at risk. What if you lose your coins or they get stolen? It's much easier to manage one coin than several. If you do decide to go the route of buying more gold, I suggest buying one coin and then purchasing Streettracks Gold Exchange Traded Mutual Fund. This mutual fund allows you to buy gold in your regular stock brokerage account with only a small management premium. You get to own gold without the worry of storage. I you do decide to buy more than one coin, another option is to store your extra coins in your bank safe deposit box. If you go the safe deposit box route, I recommend Gold Why's article on storing gold in your safe deposit box.

Where Should I Store My Coin?

The first lesson of storage is to tell nobody you own the gold coin. If nobody knows, you will run almost zero risk of theft. The second lesson of storage is to keep your gold coin close to you at all times. The reason you are buying the gold coin is for wealth attraction. You will have the greatest luck if you keep the coin in your pocket, briefcase, purse, of house. If you already wear gold jewelry, it's probably fine to store the coin in your house. If you do not wear any gold jewelry, consider keeping the coin in your pocket, briefcase, or purse so you always have a piece of gold close to you for luck. Remember, don't brag about the coin or show anyone. Keep it in a hidden place.

Gold Is A Hedge Against Inflation

An added benefit of your gold investment is it will hedge you against inflation, the savers worst nightmare. Inflation means the dollars you have saved for your down payment are worth less each day. As inflation rises, however, gold will appreciate in value to help counteract the lower value of your dollars. This is very similar to how oil stocks provide a hedge against higher gasoline prices. This is a more advanced investment topic and should not be your primary concern but is worth consideration. If you're only buying one coin, it's not going to provide a huge amount of insurance against inflation but it's nice to know you have some protection. Most importantly, it's a great feeling to know that luck is on your side. Buy a gold coin and you will start noticing good things happening in your life. Buy a gold coin and you will quickly save enough money for your mortgage down payment on the home of your dreams.

Want to learn more about gold coins? This is the entire topic of many great websites and a good place to start is reading this introduction article at Wikipedia. Also, you might want to check out The United States Mint, producers of American Eagle 22 karat coins and Buffalo 24 karat gold coins. Last, already mentioned a few times above, I recommend Gold Why for a discussion of gold bullion coins, stocks, and investments.