Gold Coins

Gold coins have been around for centuries as forms of currency and as collector’s items. Similarly to silver and other precious metal coins, gold coins maintained value because of there rarity. Ancient Egyptians used gold coins, which were marked by the face of the pharaohs, as gifts rather than for commerce, but many other societies used them as money. The first silver coins were minted around 700 BC, and gold coins were minted shortly after that. The Chinese also had a series of gold coins that were used to fuel their economy in the 5th and 6th centuries BC.

It wasn’t until the 1900’s that gold coins were replaced as a form of currency and money. The gold standard lasted until 1933 at which time the many people hoarding gold forced the world economies to move into other standards. Unfortunately, as inflation continued to increase, the economies that were off the gold standard began to struggle to control it. Gold coins were replaced by gold looking coins using materials that were cheaper to purchase and print. Although many countries still produce some form of gold coins, most of them are reserved for collectors or gold dealers and rarely come into the hands of average citizens.

Unlike gold bars, gold coins are valued based on density, weight, age, and type which makes buying gold coins as an investment an undertaking that requires study and analysis. There have been a variety of valuable gold coins minted over the years, but most of these types are reserved for collectors rather than investors. Gold bullion on the other hand, are judged solely on content rather than other historical features. These are the type of investment that most resemble gold bars and are a cheaper alternative to whole gold bars or bullion. Bullion coins are minted in sizes proportional to an ounce – typically half ounce, quarter ounce, and one-tenth ounce, and are still valued based on the troy ounce.

Unfortunately, there are a lot of counterfeit gold coins on the market to lure unknowing investors, so make sure that you buy your gold coins from a reputable dealer or source. Typically, you can find gold coins at most gold dealers, including the special collector’s coins, A 1 oz. gold coin is about the same size of a half-dollar, while a one tenth ounce bullion coin is about the same size of a dime.

Buying gold coins is a great way to get into the realm of gold investment and allows for you to test the waters before going all the way into buying gold bars and other forms of gold. If you are interested in buying gold coins, I highly recommend looking online for more information so you can find the type of coins that are either of interest to you or within your budget. Although it is best to buy most of your gold in one shipment to save costs, there is nothing that says you cannot buy a coin or two at a time. Simply spending one dollar on a gold coin as opposed to in stocks is going to save you a lot of headache and frustration in the long term.

Read more about Gold, Silver, Platinum, Palladium, Coins or Mints

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