Gold coins are one of the ways to protect your money from inflation, remaining high in value even among fluctuating economic conditions. Collecting gold coins can an develop into an asset in addition to a hobby. Most people tend to keep their supply of gold coins for longer periods of time than they would with other collectibles. To help you make wise purchasing decisions, bear in mind the following do’s and don'ts.

Do:

Buy North American coins.

North American coins are the easiest to acquire and the best place to start. The American Gold Eagle is an official gold bullion coin issued by the United States Mint, with its content and purity standards verified. The Canadian Gold Maple Leaf coin is another popular option. Since both of these coins are widely available they can be bought and sold easily.

Buy local.

Buy from a local dealer, especially if you're new to the world of gold coins. You can ask questions directly and have a point of contact for future transactions. Also, you can take possession of the coins immediately without dealing with shipping and insurance fees. The beauty of shopping with a local coin dealer is the gold coins are verified as genuine so you can rest assured your collection is all real. There are tragic stories of collectors who have stored counterfeit coins and fake gold for years without knowing their true value.

Don't:

Buy large amounts of fractional coins.

Stick to one-ounce coins since you'll get more for your money. Fractional coins, such as half-ounce and quarter-ounce, usually come with a larger price markup than full-ounce options.

Go for historical value.

Unless you’re a collector with extensive experience in historical coins, start out by buying standard-issue gold. You’ll know what you're getting and avoid overpaying. The history of a coin can have a dramatic impact on the price, so if you're new to this game, you may not be able to tell what is a decent price and what is too much.

Hawaiian Islands Stamp & Coin in Honolulu has been buying and selling gold coins since 1973. They offer professional services in new and old coins, paper money, silver, and stamps. They’re experts in authenticating and appraising and will ensure you understand the value of what you're buying or selling. Call (808) 531-6251 or visit them online to find out more about their current inventory of gold coins.