What Are the Best Gold Coins to Invest In?

For decades, investors worldwide have purchased gold coins, bars, and other precious metals for various reasons. Some seek gold coins as a hedge against inflation, while coin collectors search for rare mints to add to their display cases. Often, many individuals strive to secure their financial future by creating a gold IRA, which involves investing in gold coins, bullion, and more.

If you’re new to investing in precious metals, you may fell overwhelmed with your choices. After all, you have many gold coins and other metals to choose from. Without much experience, it can be challenging to determine which gold investment coins are best for you and your goals.

Learning about the different gold coins available can help you make informed decisions when it comes time to invest. This overview of the best gold coins to invest in as of 2023 will discuss reasons to invest in physical gold and which gold coins may serve your IRA best.

The Best Gold Coins to Buy as an Investor

Before you buy gold coins, you must be aware of a few key details.

First, while gold coins and bullion have monetary value as items containing precious metals, most of them are not legal tender.

Gold bars, coins, and bullion have a collectible value. Although you can’t use gold as money in the day-to-day, it still maintains significant worth in the context of investing.

Second, it’s important to educate yourself about the different mints to be sure you’re receiving the best value when engaging with other gold investors.

With this information in mind, let’s take a look at some of the best gold coins to invest in.

The Gold American Eagle

one ounce american eagle gold coin

Embodying American history and patriotism, the Gold American Eagle is a popular gold coin easily identified by veteran investors. On the front of the American Gold Eagle, Lady Liberty stands in the sunlight. On the back, bald eagles come to nest, hence the coin’s name.

  • Maker: The U.S. Mint
  • Purity: 22-karat, 91.67% gold fineness
  • Sizes: Four available sizes, including one-ounce, half-ounce, quarter-ounce, or tenth-ounce
  • Tax Benefits: The IRS considers American Gold Eagle coins collectibles. As a result, the capital gains tax rate is 28% in the long term.
  • Other Reasons to Invest in These Coins: Since these gold coins are so popular and recognizable, many investors may be looking to buy them should you choose to sell in the future. Additionally, American Gold Eagle coins allow for easy liquidation.

The American Gold Buffalo

one ounce american buffalo gold coin

The American Gold Buffalo is a stunning addition to any collection or investment portfolio. The Gold Buffalo coin features art modeled after the 1913 Buffalo Nickel designed by James Earle Fraser. This iconic gold coin depicts a side profile portrait of a Native American chief on the front and an American Buffalo on the back whose likeness resembles Black Diamond, an American bison that became a popular attraction at the Central Park Zoo in the early 1900s.

  • Maker: The U.S. Mint
  • Purity: 24-karat
  • Sizes: One troy ounce
  • Tax Benefits: Similar to the Gold Eagle, the IRS has deemed American Buffalo coins collectible items, meaning they see a similar capital gains tax rate.
  • Other Reasons to Invest in These Coins: Given their high gold content, these gold bullion coins are one of the best gold coins to invest in, as they’ll likely fetch a hefty price should you choose to sell.

The British Gold Britannia

ten pounds british britannia gold coin with jewelry background

Of all the available coins for investment, the British Gold Britannia is popular as a source of fine gold from the Royal Mint. Featuring a portrait of Queen Elizabeth II and a high gold content, this gold bullion coin has a face value of €100 ($107.26 USD).

  • Maker: The Royal Mint
  • Purity: 24-karat, 99.99% gold content
  • Sizes: One troy ounce, half-ounce, quarter-ounce, or tenth-ounce
  • Tax Benefits: American investors don’t have to pay capital gains tax on British Gold Britannia coins.
  • Other Reasons to Invest in These Coins: Although you can’t use many gold bullion coins as money, the Gold Britannia coin from the Royal Mint is a circulating coin in the U.K.

The Canadian Gold Maple Leaf

quarter ounce canadian maple leaf gold coin

Many investors consider the Canadian Gold Maple Leaf to be among the best gold bullion coins. The Royal Canadian Mint produced the Gold Canadian Maple Leaf coin in 1979, and it has maintained its favor among gold bullion coin enthusiasts since.

  • Maker: The Royal Canadian Mint
  • Purity: 24-karat, 99.99% gold content
  • Sizes: One-ounce, half-ounce, quarter-ounce, or tenth-ounce
  • Tax Benefits: The gold Canadian Maple Leaf coin is one of a few gold products you can own as part of your IRA.
  • Other Reasons to Invest in These Coins: Considered extremely fine gold for its high gold content, the Canadian Gold Maple Leaf has received praise from many investors as one of the best gold bullion coins on the market. Likewise, the Gold Maple Leaf coin also offers a layer of security for investors, as the Royal Canadian Mint began engraving a smaller maple leaf on the coin in 2013 for authentication purposes.

The South African Krugerrand Gold Coin

south african kruggerand one ounce gold coin

South African Krugerrand gold coins feature the likeness of their namesake: the first president of the South African Republic, Paul Kruger. These gold bullion coins have an extensive history, with the first editions dating back to 1967. Despite its comparatively simplistic design, the South African Krugerrand gold coin has maintained popularity among gold investors since its debut.

  • Maker: The South African Mint
  • Purity: 22-karat, 91.6% purity
  • Sizes: One-ounce, half-ounce, quarter-ounce, or tenth-ounce
  • Tax Benefits: Although Krugerrand South African gold coins are legal tender in their home country, investors sell them based on the content of precious metals, not their face value. As a result, the retail sale of this South African gold coin is taxable.
  • Other Reasons to Invest in These Coins: Of all the one-ounce bullion coins available on the market, Krugerrand coins have seen the most international sales. Despite being less complex in appearance than other gold coins, the Krugerrand has remained a popular investment all these years, including among those who are new to buying gold.

The Austrian Gold Philharmonic

austrian philharmonic gold coins in different sizes

If you’re interested in European coins for investment, the Austrian Philharmonic is a great option. With a face value of €100, this low-mintage coin features the stunning Golden Hall of Vienna and instruments of the Austrian Philharmonic Orchestra.

  • Maker: The Austrian Mint
  • Purity: 24-karat, 99.99% purity
  • Sizes: One-ounce, half-ounce, quarter-ounce, or tenth-ounce
  • Tax Benefits: Investors can purchase Gold Philharmonic coins tax-free.
  • Other Reasons to Invest in These Coins: Purchasing a gold coin like the Austrian Philharmonic allows investors to explore the European market and U.K. manufacturers’ gold bullions.

Why Gold Bullion Coins Are a Worthwhile Investment

Whether you’re buying collector coins like the Chinese Gold Panda or rare coins for capital gain, fine gold coins can provide a valuable level of financial security in times of economic hardship.

Although the price of fine gold has shifted slightly over the years, the gold coin maintains a relatively stable value, presenting a low risk to investors who buy gold. Likewise, the gold coin is among the most accessible products on the market for new investors. Gold coins are also fairly easy to purchase and sell, which may be helpful if you need fast cash.

How to Use an IRA to Buy Gold Coins

If you’re planning on buying gold for your gold IRA, it’s critical to familiarize yourself with the IRS’s rules regarding gold IRAs.

Generally, IRAs can’t own collectible items, and the IRS deems precious metals as “collectibles.” However, this rule excludes gold coins classified as legal tender, specifically those that have a gold purity level of 99.5% or higher. Because of this exception, you can include American Gold Eagles and Canadian Maple Leaf coins in your IRA.

Whether you’re buying gold coins for investment or bullion, you must have a self-directed IRA through a custodian approved by the IRS.

Choose Oxford Gold Group for Investing Assistance

At Oxford Gold Group, we can help you set up a gold IRA to safeguard your financial future. We offer a wide variety of gold products, including Australia’s Perth Mint, the American Gold Buffalo, the Canadian Maple Leaf, and more.

If you’re new to gold investing, opening a gold IRA may seem like an intimidating process. At Oxford Gold Group, we can help you formulate an investment strategy that suits your needs and brings you closer to your financial goals. We strive to make investing in gold, silver, and other precious metals as stress-free and accessible as possible, and we’re happy to help you navigate the IRA process.

To learn more about our services, contact us at Oxford Gold Group at (833) 600-GOLD.

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