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Everything You Need To Know About Buying Gold Coins

By Eric Gozenput. Originally published at ValueWalk.

Gold IRA

Are you thinking about making a gold coin an investment? You are not alone. In the past, buying gold has been seen as a way of protecting yourself from banks and financial institutions on shaky ground, or even your own government.

Many people face tough economic years without any savings, and if something happens in the economy and a major bank collapses, gold coins are tangible assets that can be sold for a higher value than what you bought them for.


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What to Buy

1 oz American Gold Eagle

One of the most demanded coins on the market is the Gold Eagle Coin. This American Eagle coin is highly popular due to its distinctive design. Created by the United States Mint in 1986 due to the Gold Coin Bullion Act of 1985, the Gold Eagle Coin became one of the most sought-after gold coins amongst collectors and investors alike. The US gold coins are still minted today and are available in three options: Brilliant Uncirculated Gold Eagles, Proof Gold Eagles, and Certified Gold Eagles.

The value of the Gold American Eagle coins is based on their precious metal content, which, by the law, is made of .9167 gold, 0.3 silver, and .5333 copper. The mixture of metals was added to create a more durable coin. The purity of this coin is guaranteed by the United States Government. Each year, over 1 million Gold American Eagles are produced and sold on bullion industry markets. The price of a Gold American Eagle coin depends on its year of issue and its availability on the market, as well as its condition. Usually, the Gold American Eagle coin price carries reasonable premiums over the gold spot price. These coins are IRA-eligible, which means that you can choose to have them as your retirement option.

1 oz American Gold Buffalo

The Gold American Buffalo coin is one of the first few coins produced by the United States Mint that feature 24 karat .9999 pure gold. Since many investors prefer 99.99% pure gold coins, the Gold American Buffalo Bullion Coin was created to compete with international gold coins of the highest purity, like the Canadian Gold Maple Leaf. Since being released in 2006, the Gold American Buffalo Bullion Coin is one of the most sought-after coins among all US Gold Coins.

The purity of the Gold American Buffalo Bullion Coin is guaranteed by the United States Mint, which makes this an outstanding collectible and an excellent way to diversify your investment portfolio.

1 oz Gold Canadian Maple Leaf

The Canadian Maple Leaf Gold Coin is the most notable coin among all the Canadian Gold Coins. The Gold Canadian Maple Leaf was first minted in 1979 and is considered one of the oldest gold coins available on the gold bullion market today. During its first releases, and up until 1982, the coin was produced of .999 fine gold. In 1983, the Canadian Gold Maple Leaf Coin is made of 99.99% pure gold. The Gold Maple Leaf has been considered the standard for 24-karat gold bullion coins. The Canadian Maple Leaf Gold Coin is an excellent and affordable addition to your investment portfolio. Each coin’s purity and weight are guaranteed by the Canadian Government.

How Much Should You Pay?

The price of gold coins is determined by their weight and the current spot price of gold. The spot price is the price at which you can buy or sell gold on the open market.

Gold coins are sold in troy ounces, which is slightly heavier than a regular ounce. One troy ounce is equal to 31.1 grams or 0.0675 pounds. The weight of each coin is indicated on its face, so all you have to do is multiply the number of troy ounces by the current spot price of gold to determine its worth in dollars.

Understanding Spot Price

The spot price of gold is the current price at which a given quantity of gold can be traded for money. The spot price of gold is usually expressed in U.S. dollars per troy ounce (31.1035 grams).

But what does that mean? In simple terms, it’s the amount of money that you have to pay for a single ounce of gold today.

How To Store Gold

Storing gold coins can be a tricky business, especially if you’re new to the market. If you’re looking for a safe place to store your gold coin collection, it’s important to understand what makes a good storage solution. Here are some tips on how to store gold coins:

  1. Choose the right size – Gold coins come in many different sizes, so make sure that your chosen storage box is large enough for all of your coins. If you have small coin collections, then a small box will do the trick, but if you plan on storing larger collections (or if you want to be able to store other types of jewelry), then you should consider buying a larger model.
  2. Choose a durable material – The best way to protect your collection is by choosing an airtight container made from durable materials such as metal or plastic. This will ensure that moisture doesn’t get into the box and cause damage to your precious collection.
  3. Consider security features – Even if your chosen model has an airtight seal and is made from durable materials, there’s still a chance that someone could break into it without permission (if they know what they’re doing). This means that it’s important for any storage unit

Conclusion

Overall, buying gold coins is a good alternative, especially for those looking for an alternative to physical gold bullion, or for those who prefer the portability and ease of purchasing gold coins.

One other benefit is that bullion coins are sold by the ounce, making it harder to overpay. The Best advice we can give is to know what you’re getting and determine whether owning physical gold in one form or another is something that is right for your portfolio.

If you are going to buy Gold Bullion coins make sure you do some research on the coin you are thinking about buying and learn more about the benefits and risks of owning physical gold in its various forms.

It should also be noted that all gold bullion investments come with a risk of fluctuation and possible loss (just like any other investment). So make sure that before you invest in gold bullion, you thoroughly understand your risks and how precious metals work as investment vehicles.

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