Choosing The Best Dealer Online Or Local
A good way to start is to compare prices of the same product among a few dealers.
Getting a low premium is good, of course, but price isnt the only consideration. Heres a few other important questions to ask:
Do they offer multiple forms of payment? Bank wire, credit card, cash, personal checks, money orders/cashiers checks, and PayPal are being increasingly offered in the gold industry. And you want as many options as possible for not just current orders but future ones, too.
What are total costs, including commission, shipping, insurance, and credit card or bank wire charges?
How big is the company? You want a dealer that has strong volumes, because they will have greater flexibility, bigger selection, and be more equipped to fill a large buy or sell order.
Is the dealer pushy, or educational? Do you feel comfortable with them?
Will the dealer send you a lot of marketing materials after your purchase? You may want these to learn about special offers, but you dont want to get bombarded or your name be sold.
Do they offer a buyback policy? If theyre not willing to buy back what you purchase today, thats a strike against them. We obviously want a dealer that will still be in business years from now when youre ready to sell.
What is the return policy if you receive the wrong product? Keep in mind, however, that you cant return a correctly filled order due to buyer remorse.
There are a few other places youll see gold coins for sale, including
Great Britain Britannia Gold Coin
The symbolism of Britannia has stuck with the British people for more than two thousand years. Originally a term used to label the islands as a province of the Roman Empire two thousand years ago, Britannia came to mean something much more to its inhabitants.
Coin Highlights
- 30th anniversary of the Gold Britannia.
- Contains 1 Troy oz of .9999 pure gold in BU condition.
- Face value of 100 is fully backed by Britains government.
- Queen Elizabeth II graces the obverse.
- Britannia commands the reverse design field of the coin.
Britannia became more than just a name, a term, to the British people. In the days following Roman conquest of the island, the name came to be associated with a goddess responsible for protecting the island. With a trident in one hand she controlled the seas of the English Channel, keeping intruders at bay. In the other, a shield prepared her for battle against those who survived the crossing.
The British Gold Britannia coin debuted in 1987 from the Royal Mint. This year marks the 30th anniversary of the coins initial release, which featured 1/2, 1/4, and 1/10 Troy oz coins in addition to the popular 1 oz version. 2013 marked a year of changes for the program, with the addition of 5 oz and 1/20 oz coins to the lineup, and a boost in gold content from .917 to .9999 purity.
Somalia African Elephant Gold Coin
One of the most underrated Gold coins on the planet is the Somalia African Elephant from the Bavarian State Mint in Munich, Germany.
Each year, the Bavarian State Mint releases the popular Somalian Elephant series of coins with a new design, along with various options for both investors and collectors to choose from.
The Somalian Elephant series began in 2004 with a 1 oz silver coin. Over time, the Bavarian State Mint has grown the program to include gold versions of the coin with fractional weights, and even more recently, a platinum version.
On the obverse of the 2020 1 oz Somalia Gold Elephant Coins is the image of the coat of arms for Somalia. The crowned shield that forms the center of the crest design includes a background field of horizontal lines with a single star in the center. A leopard supports the shield on either side and there are two spears and two fern leaves crossed at the bottom of the design.
The reverse of 2020 Somalia Gold Elephant Coins includes the design of two African bush elephants. The bush elephant is one of three distinct species of elephant still alive today and is the largest, heaviest land mammal in the world. These two elephants stand facing one another as Mount Kilimanjaro juts up toward the sky in the background.
Somalia Gold Elephant Sizes and Denominations
- 1 oz
- 1/ 50 oz
- 1/2 gram
The smaller sizes make great gifts for kids/grandchildren to start their gold collection at a low price.
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American Buffalo Gold Coin History
American Buffalo Gold Coins were designed by James Earle Fraser, a student of the legendary sculptor Augustus Saint-Gaudens. Elegantly designed, buffalo coins remained in use for 25 years then resurfaced with the release of the American Buffalo Commemorative Coin in 2001. The coin’s feature images were originally created for America’s five-cent coin, introduced in 1913. Known as the “Indian Head,” or “Buffalo Nickel,” it showcases the native beauty of the American West.
The Coin Design
The obverse of the coin depicts a Native American Chief. Fraser blended the profiles of three renowned chiefs from Native American Indian tribes . Each posed for him to ensure the likenesses were captured correctly. The motto LIBERTY rests top right, the year of mintage bottom left and below that the initial F depicting Frasers name. The reverse of the coin features a left-facing buffalo standing atop a rock or mound. His powerful presence is all-encompassing, with his head and tail pressing against the coin edges.
Should I Buy Fractional Gold Coins
In todays tough economy, many investors simply cannot afford to purchase as much gold as they would like. Some turn to silver products instead, which offer very attractive upside potential and should be part of every savings plan. However, gold has historically been less volatile, so it cannot be replaced as the safe haven asset in a portfolio.
For those wishing to keep their savings in less than ~$1700 increments, the solution is fractional gold coins. Fractional coins are any coins with a weight below 1 ounce. Common denominations are 1/2 oz, 1/4 oz, and 1/10 oz. At todays spot prices, those coins would be worth approximately $900, $450, and $200, respectively. With more accessible price points, these coins are popular because they are easier to liquidate and barter.
If all else were equal, we would recommend getting the smallest-sized gold possible because it gives you the most flexibility. However, minting costs tend to be fixed regardless of the size of the coin. The mint still has to create the dies, source the metal, pay for marketing, manage distributors, etc. So smaller coins carry a higher markup as a percentage of overall cost. Its similar to how Costco can sell you 36 rolls of paper towels for $20, but the grocery store sells 4 for $10.
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Finding A Trustworthy Seller
You need to get your gold from a trustworthy source. With more people recognizing the pros of gold, there are more opportunities for evil folks to try and get in on the action. Many will use dishonest methods to lure buyers in, hoping they dont realize that theyre getting a raw deal.An excellent way to avoid these types is to buy your gold coins on the internet. Its a lot more convenient, as you can make your order right from home. It also keeps you away from high-pressure sales tactics, ones that even the most vigilant of us can fall for. Be careful about the sites you visit and buy from as well. Check other sources, such as review sites, to make sure theyre legitimate, as online scams are a real problem, too.
How To Determine Which Gold Coin Is The Best To Buy
What makes a particular gold coin the “best” to buy depends on what you want. A skilled numismatist might be looking for piece with particular historical value. Someone else might just want something that looks nice. But generally speaking, the best coin to buy for investment purposes, is the one that offers the best value.
Identify weight and purity. The most important contributing factor to a coin’s value is its gold content. This can be determined by identifying its weight and purity. Most bullion will have both of these features clearly marked, but a legal tender coin often will not. With a little research, however, it should not be difficult to find the weight and purity. Multiplying these two figures yields the gold content (for example, a 1oz coin of .999 purity contains .999, essentially 1 oz. of gold.
Add in additional costs. When evaluating the cost of a coin, don’t forget to add hidden costs such as ,tax, shipping or other costs associated with the purchase. For each coin you’re comparing add these additional costs to the asking price to get the total cost of buying the coin.
Calculate per ounce cost. Divide the total cost by the gold content. Be sure your gold content number is in ounces . For a 2oz coin, divide by 2. For a 1/10 oz coin, divide by 0.10. The coin with the lowest per ounce total cost is generally the best value.
Tips
Warnings
References
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American Gold Eagle One Ounce $50
1 oz American Gold Eagle obverse design.
First issued in 1986, the American Gold Eagle series has been perennially popular with investors. Two main reasons are their high purity of the gold content and relatively low prices over spot.
Four different sizes are offered in the American Gold Eagle series. This includes half-ounce, quarter-ounce, and tenth-ounce fractional gold coins. Still, 1-ounce gold coin mentioned here provides the best value for investors gram for gram.
The 1-ounce American Gold Eagle contains one troy ounce of .9167-fine gold and is denominated with a face value of $50. So, like all gold coins offered in this United States Mint bullion series, it is official legal tender. Though, of course, one would be considered foolhardy to spend this valuable gold coin at its nominal face value.
At the very least, its one of the bullion gold coins most commonly included in investment portfolios. Due to its outstanding popularity in the world of finance, is highly liquid and thus offers one of the best returns on ones investment.
Best Gold Coins To Own
The following best gold coins list contains all well recognized 1 troy ounce gold bullion coins with different purity levels. Some are 22k for hardness and durability while others are .9999 fine gold 24k purity.
All are guaranteed genuine by SD Bullion and the respective government gold mints which strike and produce them originally.
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South African Krugerrand 1
A favorite outside of the United States, the Krugerrand is usually one of the least expensive gold coins and instantly recognizable with its springbok antelope. While some complain that its not as detailed or magnificent as some of the other more elaborate gold coin reliefs, it has been around since 1967 and remains an accessible, durable investment. Investors have purchased more Krugerrands than all of the other 1-ounce gold coins together.At 22k, the Krugerrand contains 8.33% copper to stabilize its one troy ounce of gold and make this a durable commodity. Each coin gets stamped with FYNGOUD 1 OZ FINE GOLD. Touted as excellent investments for beginners and seasoned buyers alike, Krugerrands are also usually easy to sell. However, the spread between investment price and sales yield may be small, depending on the precious metals market. The Krugerrands value corresponds directly to the rand-dollar exchange rate and the current dollar gold price, so establishing value is relatively straightforward. In 1980, Krugerrands also became available in 1/2-, 1/4- and 1/10-ounce sizes.
Top 3 Gold Coins To Buy
If you’re looking to buy more than one gold coin and you want to diversify your purchases, well, you’ve come to the right place. The truth is that the best coin to buy today might not be the best coin to buy in a year.
However, the three coins we will list in this section have remained dominant over the years and should remain dominant over the next few years.
So, here are our top three favorite gold coins:
Canadian Maple Leaf 1 oz Gold Coin
We have discussed this coin in-depth in this article. However, we had to include the Canadian Maple Leaf gold coin on a list of the top three gold coins. The Canadian government started issuing the coins in 1979.
Only gold mined in Canada is used.
Krugerrand Gold Coin
South Africa was one of the top countries when it came to the production of gold. Still, today, when you look at gold production over the last ten years, RSA ranks in the top 11.
Some of that gold is made into Krugerrands. These one-ounce gold coins are relatively pure however, they are controversial due to the history of South Africa.
There are two ways to look at the stability of this coin. If South Africa continues to grow, then there will be no problem with the coin’s stability however, if the country stops producing coins due to political or economic instability, then the coin should become rarer and thus grow in value.
American Eagle Gold Coin
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The Best Places To Buy Gold Coins
Most gold coins are bought in one of two places: at a local coin shop, or online.
Believe it or not, youll likely find better pricing online than at a coin shop, even after factoring in shipping costs. Thats because the overhead at a brick-and-mortar store is higher. But thats just part of the difference between them.
Heres the pros and cons of your two basic options
The Different Gold Bullion Coins For Investment
In resemblance, the coins very much look alike to the coins. However, they are not a real currency and thus, they will differ from the regular coins. A round basically is a collectible value and though it may not be accepted as a monetary currency, it has monetary value due to its precious metal content. Overly, coins are accepted as a currency for most people. Of course, besides coins and rounds there are much more ways to invest in gold.
To understand more about the bullion coins, here is a list of the eight most common coins rated by the global scales.
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Oz $50 Gold American Eagle Coin Description:
The United States’ official gold bullion coin, the Gold American Eagle, was first released in 1986. Today, it comes in tenth-ounce, quarter-ounce, half-ounce, and one-ounce forms. The one-ounce is the most valuable, carrying a nominal face value of $50 and comprising 91.67 percent fine gold.
The Gold American Eagle was authorized by the Gold Bullion Coin Act of 1985 and is now one of the world’s most popular gold bullion coins. The U.S. government guarantees that each coin includes the amount of actual gold weight, in Troy ounces, on the back of the coin.
Though predominantly gold, the coin is much more wear-resistant than coins with a gold purity of at least 99.9 percent. This strengthening is due to the addition of copper and silver, which helps make it more resistant to scuffs than other bullion. The gold, as required by law, originates from sources in the United States.
The coin’s obverse depicts the full-length figure of Lady Liberty. Her hair is flowing and she holds in her right hand a torch. In her left hand, she holds an olive branch, a traditional symbol of peace. The Capitol Building, home to the United States Congress, can also be seen in the background to the left.
The Gold American Eagle’s reverse design comes instead from the monumental sculptor Miley Tucker-Frost. It portrays a male eagle clasping an olive branch as it flies above a nest with a female eagle and two hatchlings. A bald eagle is iconic as the national bird of the United States.
Gold Bars Stand The Test Of Time
Gold bars are a popular way to protect purchasing power and guard against financial crises. They are an asset that has stood the test of time for millennia.
Check out the range of gold bars to buy. Or let us know if youd like something not listed there. You can also use the live chat feature to get the most up to date pricing see the button at the bottom right of your screen.
Related: What is the Best Type of Gold to Buy For Trading in a Currency Collapse?
Editors Note: Originally posted 24 April 2018. Last updated 3 March 2020 with links to relevant products and Maple special added.
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Canadian Maple Leaf 1/2
As a bullion investment, Canadas 1/2-ounce Maple Leaf offers the security of adding 24k fractional coins to your precious metals portfolio. With the expected .9999 fineness and a Royal Canadian Mint guarantee of weight and quality, these second-largest Maple Leafs carry a legal tender value of $25 Canadian and 1/2 troy ounce of gold. Just like the 1-ounce Maple Leafs, these smaller coins also give the added security measure of light-diffracting radial lines new to 2015 and, as always, the guarantee of 1/2 OZ OR PUR and four 9s.
In times of worldwide financial uncertainty, known quality backed by a stable, secure government makes the 1/2-ounce Maple Leaf uncirculated bullion highly desirable and worth its weight in gold. Although the spread between spot and price increases as coin size decreases, these are still worthy investments. Current prices run $104 over spot for less than 10. Order more than 20 and the price falls to $92 over spot per ounce.
