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Top 5 Gold Coins

1.) The American Eagle 1-Ounce Gold Coin

Nothing represents the American spirit so elegantly than the American Eagle 1-ounce coin. Without a doubt, this is one of the most widely-known gold coins in circulation. On one side, you have beautiful Lady Liberty, while the other side hosts a powerful bald eagle. All of the metal in the coin comes directly from American mines.

The American Eagle 1-ounce gold coin has .9167 fineness, and the other parts of the alloy contain silver and copper to help sustain durability. The coin used to have Roman numerals to display the date, but the US mint switched to Arabic numerals in 1992.

Although the coin has a legal tender of $50, it contains one troy ounce of pure gold. The American Eagle gold coin is a popular favorite among investors for several reasons. It’s incredibly popular and easy to buy/sell, and you can use an American Eagle Gold coin as an asset in an Investment Retirement Account (IRA).

Another unique benefit of owning an American Eagle gold coin is that they are exempt from the IRS’s 1099-B reporting requirements.

2.) Canadian Maple Leaf 1-Ounce Gold Coin

With .9999 fineness and a beautiful royal design, the Canadian Maple leaf coin has become the standard 1-ounce coin for most investors. The Canadian Maple Leaf is widely recognized as the main competitor to the American Eagle 1-ounce gold coin due to its purity and skyrocketing popularity. It has a legal tender of $50 Canadian, which is underwritten by the Canadian Royal Mint.

For the longest time, the only other major competitor to the Canadian Maple Leaf for purity and elegance was the Krugerrand (see below). It reigned supreme until Austria released its Philharmonic in 1989 and the United States put out the American Buffalo in 2006.

The Canadian Maple Leaf 1-ounce gold coin entered circulation in 1979 and has since been an all-time favorite for investors. The original Maple Leaf coins from 1979 to 1982 had a fineness of .999, but after 1982, all coins boasted a whopping .9999. For the 25th anniversary of the Maple Leaf gold coin, the Royal Canadian Mint released a coin with a record-breaking .99999 fineness.

During gold slumps, several countries decreased production of their gold coins, but the Royal Canadian Mint maintained their supply. As a result, the Canadian Maple Leaf 1-ounce gold coin became one of the most owned coins globally.

3.) American Buffalo 1-Ounce Gold Coin

The American Buffalo 1-ounce gold coin debuted in 2006 to compete with the rising popularity of the Canadian Maple Leaf, with .9999 fineness 24k gold. To date, the American Buffalo is the purest gold coin the US Mint produces. Although it’s more refined than the American Eagle gold coin, it isn’t as popular because it doesn’t match its classic reputation.

The coin displays a buffalo on one side and a Native American portrait on the other. The American Buffalo gold coin has a legal tender of $50, backed by the US Mint. One unique thing about the coin’s design is the uneven edges. Some edges are more rugged and thinner, giving the American Buffalo gold coin a more “Wild West” feeling.

While American Eagle coins are more durable due to their silver and copper content, the American Buffalo contains one troy ounce of pure gold. As a result, it’s far more vulnerable to wear and tear, so collectors need to be more cautious about how they store these assets.

If purity is what you’re after, the American Buffalo 1-ounce gold coin could be a fantastic choice. They aren’t as easy to obtain or sell as the American Eagle coin, but they are suitable as collectibles.

4.) South African Krugerrand

The South African Krugerrand is one of the most famous gold coins worldwide for its affordability and durability. On one side of the coin is a springbuck, the national animal of South Africa. Several gold investors claim that the Krugerrand isn’t as elegant or prestigious as other coins in circulation, but it’s still considered a sound investment for anyone looking to diversify their portfolio with gold.

The Krugerrand was released in 1967 and had a fineness of .9167. Since its release, investors have purchased more Krugerrands than any other 1-ounce gold coin in circulation. The coin has made a name for itself as being a suitable gold coin for both novice and seasoned investors due to its durability and easy access.

At one point, the Krugerrand was the most popular gold coin in circulation. However, due to the Apartheid in South Africa, several nations stopped importing it, and other coins like the Canadian Maple Leaf surpassed the Krugerrand in purity and popularity. Today, the Krugerrand is still considered iconic and is incredibly easy to sell.

If you’re looking for a durable, reliable, and world-famous coin to add to your collection, contemplate getting your hands on a Krugerrand.

5.) British Britannia 1-Ounce Gold Coin

The UK Royal Mint is one of the oldest producers of gold coins worldwide. The United Kingdom has been releasing gold coins since the first century. The British Britannia is the United Kingdom’s addition to the 1-ounce coin market and has been an all-time favorite for investors worldwide. In terms of legal tender, the British Brittania boasts a whopping £100 value.

The original series of the Britannia coins was 22k, the rest being either copper or silver. After 2012, the UK Royal Mint released its first 24k Britannia at .9999 fineness. Every Britannia in circulation contains one troy ounce of pure gold.

Since Britannias are tax-free in the UK, there’s no doubt that they will reign supreme throughout the nation. The Britannia is a fine choice for investors looking to get their hands on an iconic coin with status and beauty. Britannias are relatively easy to buy/sell, but be sure to look out for counterfeits.

The Advantages of Investing in Gold Bars

Gold coins are prevalent in the world of gold investing, but what about gold bars? There are a few reasons why some investors prefer to invest in bars rather than coins.

For starters, you’ll get more ounces for your money with gold bars since they are less expensive. Since coins have complex designs, you’re paying higher premiums and labor costs. Gold coins might be more visually appealing, but that means you end up paying more for design rather than weight. Another advantage of investing in gold bars is they are much easier to store. For example, 10-ounces of gold bars will take up far less space than 10-ounces of coins.

Buying gold bars doesn’t interfere with any of the baseline advantages of investing in gold. They are easy to transport, have high liquidity, and won’t deteriorate.

Choosing the Right Size

One critical aspect of purchasing gold bars is choosing the right size. Gold bars come in several different weights and sizes, the smallest being 1-gram (wafers) and the largest being 400-ounces. Banks and governments usually own the 40-ounce bars, but they are available to the public.

Bigger bars usually come with a smaller premium since it’s less expensive to produce a larger bar than a small one. However, investing in a heavier bar isn’t always the best option. Many gold investors advise to stay away from large bars, and here’s why:

You don’t have as much room to divide your liquidity since selling a large bar typically means a sizable investment.

Fewer people are looking to buy large bars, so they are more challenging to sell.

Counterfeiters prefer large bars, so there’s more risk of counterfeits.

The only real advantage of buying a large gold bar is the smaller premium. However, the negatives far outweigh the positives. Affluent investors could purchase large bars since they have the cash, but most prefer buying large volumes of smaller bars instead.

Where to Buy Gold Bars

You always want to make sure you’re getting your bars from a reputable source. To ensure your seller is legit, make sure they have several real customer reviews online, an attractive buyback policy, and a comfortable sales process.

Here are some things to look for in a dealer when buying gold bars:

  • Strong online rating. Since the online gold marketplace is one of the top destinations for trading, several buyers rely on ratings when choosing a seller. Websites like Trustpilot are great for checking out real customer reviews. Make sure to look for things such as repeat customers and genuine reviews from buyers.
  • Educational content. A huge red flag is a dealer who doesn’t demonstrate adequate knowledge about gold. A dealer with educational and accurate content on their website is typically a good sign. Look for things like informative articles and detailed descriptions. Make sure to fact check everything the dealer posts before purchasing something from their website.
  • A large volume of sales. Working with large dealers is much easier than smaller ones. They tend to have a better sales process, helpful customer service, and a reasonable buyback policy. It’s also difficult to gain such a large customer base if they are running a dodgy operation.
  • Multiple payment options. Most dealers accept cash and checks. If you choose to pay with a credit card, they might add additional fees, and that’s standard. Many online retailers accept other forms of payment, such as PayPal, Bitcoin, and other cryptocurrencies.

If it’s your first time buying gold bars, don’t be afraid to look online and search through gold investment forums where you can find advice from real investors. This will allow you to learn more before investing your hard-earned cash. However, be wary of trusting the first person you speak to.

Investing in Gold

With the world favoring online investing, stock markets, and cryptocurrencies, it almost seems archaic to invest in tangible assets. We barely even carry cash nowadays, so why would it be a good idea to invest in something physical that requires care and storage like gold coins and bars?

Gold and other precious metals have been a sound investment for banks, governments, businesses, and individuals for centuries, and there are several reasons why. One primary advantage of adding gold to your portfolio is its stability. When other investments go down, gold seems to gradually increase over time. Gold is also a good defense against inflation.

High-value investors like to diversify their portfolios with gold because you aren’t required to pay any capital gains tax unless you sell. One popular advantage of investing in gold is that nobody knows you have it (unless you tell them), and in the unlikely event of a massive financial crisis, you can use your gold as currency.

Other Forms of Gold Investing

You don’t have to purchase tangible gold to reap the benefits of gold investing. You can buy gold and put it in your Investment Retirement Account, but you won’t be able to take your shiny gold coins home with you. Other forms of gold investing include:

  • Investing in gold mines
  • Gold certificates
  • Hedging against inflation
  • Exchange-traded products

You shouldn’t look to gold as the only investment option, but it is a great way to diversify your portfolio. Several investors allocate between 5 to 10% of their investment portfolio to gold and other precious metals.

FAQ

What is better, gold coins or bars?

The answer depends on your interest. Some people prefer gold coins because of their designs, popularity, and unique history. Other investors prefer bars because they’re easier to store, and you get more value for your money. Evaluate why you want to buy gold in the first place, and that will help you decide which is the better option.

What is the cheapest way to buy gold?

Gold bars are the cheapest way to buy tangible gold. They have smaller premiums, and you can buy them as light as 1-gram.

Which country has the cheapest gold?

Hong Kong currently has the lowest premiums on gold assets. There are also several places to purchase gold in Hong Kong, such as retailers, banks, and online marketplaces.

What’s the difference between gold bullion and gold coins?

The difference between the two boils down to your personal preference. Modern gold bullion coins contain a standard amount of gold, where collectible gold coins may vary in weight and value. However, some historic gold coins are in circulation with a lower gold content but are worth far more than standard bullion coins.

Final Thoughts

There’s no surprise that gold coins and bars are an exciting investment. We value gold as a species for a wide range of reasons: value, practical use, beauty, and so on. Another great thing about investing in gold is there’s a low barrier to entry. You don’t have to buy coins or bars by the ounce to start collecting, which makes investing in gold an excellent option for beginners.

Investing in gold also allows you to take physical control of your investments and easily store them in your home. Other forms of currency have come and gone over the years, but gold remains the one resilient investment that remains in demand and has inherent value.

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