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Sunday, February 12, 2006

Buy Gold Coins

Even though "buy gold coins!" is not the cry you will hear from an investment advisor or your accountant perhaps it is, never the less, a good strategy to follow.

Gold coins continue to maintain their value regardless of the economic climate and even improve their value over the long term.

Some gold coins have a value over and above the value of the gold content due to the coins rarity.

When you are buying gold coins these are the things to look for:

Type of coin - Eagle, Sovereign etc.
Size of coin - These can vary also. Sometimes measured in value and sometimes in weight.
Face Value - 1 dollar or five dollar or even 10 dollar (for US or Canadian coins) for example.
Weight - Usually measured in troy ounces or part of an ounce but grams have also become a popular weight measurement recently.
Fineness - (999% fine) Amount of gold compared to other metals, such as silver. Gold bars are usually measured as 999 parts per 1000. Most gold coins are usually 917 parts per 1000. Other metal is added to make them easier to mint. Most gold coin producing mints and nations now produce 99.9 percent pure gold coins.
Gold Content in Grams - The weight of the gold contained within a gold coin measured in grams.
Gold Content in troy Ounces - The weight of the gold contained within a gold coin measured in ounces.
Price - How much you would be expected to pay for the gold coin advertised. This would include any margin added by the seller and any tax that might be applicable.

The above information should be clearly displayed along with, ideally, a picture of the coin. Sometimes the date it was minted and the condition is included also if it not a mint coin (new, never been used, Mint Issue). Proof coins should also have a certificate authenticating their condition.

Some old coins can have a value far beyond the face value or gold value. Rarity, limited issue and aesthetic appeal can add value to a coin. Such coins are worth keeping as they will only continue to increase in value over the years.

Browsing the coins available will give you a good understanding of what coins to collect and how much to pay for them.

To buy gold coins is a fascinating and often financially rewarding activity for any coin collector!

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