1 oz Gold Coin Random Year-Varied Condition, Any Mint
| Product | Best Price | |
|---|---|---|
|
1 oz Gold Bar (Varied Condition, Any Mint) | As Low As
$3401.54
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Gold is hot right now. The spot price for an ounce of gold breached $2,000 for the first time in November 2023, and it continues to remain above that mark in the face of growing inflation and economic discontent.
Some of the most popular items to buy are 1 oz gold bullion coins. Sovereign mints around the world issue millions of these pieces each year, and you can save yourself a lot of money if you aren’t picky about the coins you buy.
Coin Highlights
- 1 troy ounce of gold
- Each coin is at least 90% fine gold.
- Each coin comes in protective plastic flip.
- Will arrive with unknown dates and in unknown condition.
- Will be a product of one of the world’s top mints, including the US.
- Obverse and reverse designs will reflect nationality and heritage of coin’s country of origin.
- Most are circular disks, but some random coins may have different shapes.
The coins under this kind of heading are the very definition of a mixed bag. You can purchase this option with many reputable dealers, but we recommend you consider one of the following:
- JM Bullion
- Provident Metals
- Silver.com
- BGASC
Regardless of which dealer you plan to use, the procedure will be roughly the same. You pay for the coin upfront, and the dealer will select a random 1 oz gold coin from its stores.
The chosen coin may come from any number of sovereign mints worldwide. Your coin may be an American Gold Eagle, a Canadian Gold Maple Leaf, a Chinese Gold Panda, an Australian Lunar, or one of the other excellent coins that governments produce as both legal tender and souvenirs.
The exact mintage date of the coin will also depend on the origin of it. Each country introduced its first bullion coin or coins in different years, so the year of service will reflect as much.
The designs on the obverse and reverse of your coin will reflect its country’s history or iconography. National animals, buildings, or images are often commemorated on the coins.
The coin you receive may come in any condition, too. None of them will be damaged to the point of disrepair, and some of them may be in almost uncirculated condition. However, don’t be surprised to find a few nicks and abrasions.
Finally, there is no universally agreed level of purity for 1 oz bullion coins. The good news is that no respectable sovereign mint would ever issue a low-purity bullion coin. The least-pure members of this group are minted in 22-karat gold, or 90% pure. Notably, the South African Krugerrand and the American Gold Eagle are 22-karat items.
Other coins you may receive may have purities as high as .9999 pure. The Gold Maple Leafs, the Lunars, and the American Gold Buffalos are all examples of these extremely pure goldpieces.
One thing to bear in mind with these coins, however, is that you are likely to pay more for one of them than you would for a 1 oz bar or round. The reason why there is a higher cost for any gold coin is that gold coins are usually legal tender and bear the guaranteed authenticity from their issuing countries. Thus, they are also easier to sell, because they are well-known commodities.
Why buy random and varied?
So, you may be wondering why you might roll the dice on buying a random 1 oz gold coin. Simply put, the cost of buying 1 oz of gold without specifying anything about it is the easiest way to buy a gold coin with the lowest premium.
The price of a gold coin is largely defined by the spot price of gold. The market value of gold designates an agreed-upon worth on a troy ounce of gold. Thus, any 1 oz gold coin is likely to have a price that hovers just above the spot price.
The difference between the two reflects the premium that dealers charge for the service they provide. However, the more specificity and care that each coin has, be it in terms of the country of origin, the mintage date, the mintage numbers, and whether the coin is a proof coin or is in uncirculated condition.
When you don’t specify the coin you receive, the premium you’ll pay will be the closest to the spot price that you’ll ever get. So, if you want to get into the business of precious metals or coin collecting, buying random and varied is one of the most cost-effective ways to do so.
