When you are investing in gold you will have to choose between gold bars and gold coins. People have different opinions on which one is better. If you are new to investing in gold and you have a bit of money to invest, you might want to buy gold coins. Gold coins are more convenient and have lower premiums than gold bars. There is a wide variety of gold coins on the market. When you buy gold bullion coins the first decision you have to make is whether to buy new bullion coins or older coins. The sensible thing to do is to consider modern one-ounce coins that are guaranteed by a government. Since coins are mass produced they are available at more convenient prices than similar sized gold bars. Gold coins are recognized everywhere in the world and are therefore easier to resell.
Most gold coins contain a troy ounce of fine gold. Most investment grade coins are made from 24 carat gold, but there are gold coins that are made from 22 carat gold. Here are some of the best gold coins to invest in.
- American Eagle one-Ounce Gold Coin
The American Eagle one-ounce gold coin is the most recognized coin globally. The coin is struck from 22k alloy containing 3% silver and 5.33% copper. Its content and purity is guaranteed by the U.S. Mint. The coins have a $50 legal tender. These coins are very popular, but there is a limited number of coins struck every year. Numismatic coin collectors love them for their beauty and gold investors hold on to them as guaranteed investments.
- American Buffalo one-Ounce Gold Coin
The American Buffalo one-ounce coin premiered in 2006. It is made from .9999 fine gold, the highest purity gold count produced by the U.S Mint. It has the American Buffalo on one side and the classic Native American profile on the other. The coin carries a $50 legal tender. While the American Eagle has some silver and copper to make it more durable the Buffalo is made of 24k gold, which makes it more lustrous but soft and susceptible to wear and tear. The most sought after edition of the American Buffalo is the 2006 minted coins, the original issue year.
- Canadian Maple Leaf one- Ounce Gold Coin
The Canadian Maple Leaf is struck from24k gold. It is regarded as the purest gold coin at four 9s. The Royal Canadian Mint started producing these in 1979, way before the American Buffalo coins were first minted in 2006, and the Austrian Philharmonic which dates back to 1979. It is one of the most favoured gold bullion coin. In 2004 the Canadian mint outdid itself and created .99999 (five 9s) Maple Leaf coins to commemorate its 25th anniversary. The Royal Canadian Mint prides itself in creating the highest quality coin and has incorporated security features to dissuade counterfeiters. However, these coins are delicate and have to be handled with care.
- British Britannia one-Ounce Gold Coin
The British Britannia coins have been around since the first century. Older coins are hard to find and they cost a lot of money. The coin has a £100 face value. Coins struck between 1987 and 2012 are made from 22k gold while coins struck in 2013 are 24k gold.
- South African Krugerrandone-Ounce Gold Coin
The South African Krugerrand has been around since 1967. It is a popular coin around the world, instantly recognizable by its springbok antelope. Krugerrands are touted as the best coins for beginners, however the spread between investment price and sales yield can be small. The value of the Krugerrand corresponds to the rand-dollar exchange rate and the current dollar-gold price, so it’s easy to establish the value.
You can buy gold bullion coins like these and maximize your investments. Other worthwhile gold bullion coins include: Australian Lunar coins, Panda coins, Philharmonic coins and Australian Kangaroo coins.
There are more advantages to owning gold coins than owning gold bars because when it comes time to sell gold coins are easier to sell than gold bars. You don’t have to sell your entire collection when you need to liquidate your investment. If you have 32 gold1 oz coins that is almost the equivalent of a 1kg gold bar. You don’t have to part with the entire collection when you need cash immediately
When you buy gold bullion you should do so when the price is low and sell when it is high to make a tidy profit.