Gold Bullion Coins : Thinking About Buying Some?
In the current financial climate of weak currencies, inflation and general insecurity, many investors and ordinary families are turning to a reliable and time-tested form of wealth preservation – gold bullion coins. People are attracted by both being able to diversify how their savings are held, and also by being able to actually hold their wealth in their hands.
So, what exactly are gold bullion coins, where do you get them, and how much do they cost?
A century ago, gold coins were used as standard currency in many countries, and were in general circulation. In the USA, these were the famous and very beautiful quarter eagles, half eagles, eagles and double eagles, which were last issued in the 1930s, and are now sought after by collectors. After gold coins ceased to be circulated in the 30s, there was then a gap of a few decades before they were again re-issued. However, as gold had by that time become so valuable, the coins that made up the re-issuing were not entered into circulation as a standard form of currency.
These days when people refer to gold bullion coins, they are talking about the modern format of them, which are issued by governments in one ounce, or fractions of one ounce weights, and which are meant only for collection or investment. They are intended to be an easy and relatively inexpensive way for citizens to own gold (inexpensive compared with larger and heavier gold bullion bars).
In the USA, gold bullion coins are called American Gold Eagles. In Canada, they are called Canadian Gold Maple Leafs. In South Africa, the coins are called Krugerrands. In China, they issue Gold Pandas. The names are derived from the designs they carry.
All the governments that issue these gold bullion coins use the same gold weighting scale, with them being available in the following values: one ounce, half an ounce, a quarter of an ounce, and a tenth of an ounce. Sometimes the bullion coins are pure gold, sometimes they have a small percentage of silver or copper to make them harder wearing, but they always have an ‘actual gold weight’ of one ounce or a fraction of an ounce as stated on the coin.
The coins usually have the year of issue and the ‘value’ on them; for example, the one-ounce American Gold Eagle has a face value of $50. However, the value stated on them is not what they are actually worth, they are in fact worth much more than that. The actual value of a particular coin is dependent on the current value of gold on the general market, plus a ‘premium’, which is determined by the dealer or store that you buy it from.
So, where do you get these gold bullion coins? While you can still go to a dealer or a local coin store, the Internet has made a huge difference to the general availability of these coins, since you can view a huge selection of them anytime on online auction sites. In addition, many online-only coin stores exist which offer bullion coins of all types and weights at very fair prices.
To find out more about bullion gold coins, read about the types of coins available, and to check current prices, go to bullion-gold-coins.com and get the information you need to know before you buy.