Gold coins are a treasure. Many invest in gold coins not only for their gold content but also for their historical value. But one may not engage in this venture without sufficient knowledge about the bullion market.
Types of Gold Coins
Gold coins are mass produced. They are also universally recognized because coin manufacturers worldwide use the same standard for their minting, storage, and distribution, therefore are easy to trade.
Different types of gold coins also have different prices, purity, and weight. They also have unique applications. Below are coins bought and sold in the bullion market:
These are coins minted in the United States after 1933. These consist of 91.67% gold, and 8.33% alloy of copper and silver. Each coin may carry a face value of $5, $10, $25, or $50. However, the market value of this type of coin is based on its gold content. When pricing an eagle coin, the face value is not important.
Also referred to as the American buffalo, is the first ever gold coin minted for the public by the US government. It is a 24-carat bullion coin, and has a design similar to an Indian Head nickel. It may have a face value of $50, but it can cost as much as $2,000.
The Krugerrand gold coin was first created in 1967 by the South African Mint for the general public. It consists of 91.75% of gold, and is made durable than its 24 carat counterparts. The coin is named after Paul Kruger, the first Boer president of the South African Republic.Read the article:Coins Sacramento.
Islamic Gold Dinar
The Islamic Dinar was first used in 2006 in Malaysia as a form of currency amongst trading partners in the Islamic world. It is intended to reduce dependence of Islamic countries to US dollar for international expenditures. It is also used as payment for dowries.
Gold Maple Leaf
The Maple Leaf is the official bullion gold of Canada. This coin is mined solely in Canada, and is one of purest in the world. Introduced in 1979, the Gold Maple Leaf has a legal tender status in Canada for their face values $1, $5, $10, $20, and $50.
Why Invest in Gold Coins?
Gold coins are good for buy and sell. You can buy them when the price is low, and then resell when the price goes up. If you want to invest in these metal coins, you need to understand how the gold spot chart works. On the other hand, if you are more interested in collectible coins, you should learn about the popular designs, and the trend of their prices.
These coins can be melted to create new items. These can be made into jewelries, dental fillings and crowns, and other appliances. It is estimated that out of the total supply of gold in the world, approximately 60% is used for making jewelries, and about 20% for industrial applications. Almost all modern gadgets have gold as their component.