Gold coins are the most dynamic form of gold in that they serve as both a type of bullion investment and as a collectible. Though some coins are more expensive than others, virtually all of them will be sold at a healthy premium over the spot price of the gold contained within the coin.
The reason why gold coins cost more per ounce than gold bars is because of the coins’ scarcity, collectibility, and demand. Almost all major coins release a new variation every year, and once a certain year’s production is finished, that variation of the coin will never be produced again. This creates a rarity and demand that goes beyond the value of the gold contained within each coin. This is opposed to gold bars and rounds, which can be produced by any gold mint in the world, and thus are less valuable as a collectible.
Types of Gold Coins
There are literally hundreds, possibly even thousands of different types of gold coins that have been minted throughout the world over the centuries. However, between all of these coins, there are only a handful that are routinely bought and sold on a large scale: the American Eagle, the Australian Kangaroo, the Canadian Maple Leaf, the Chinese Panda, the Gold Buffalo, the Mexican Libertad, and the South African Krugerrand. Most of the common gold coins are also produced as silver coins.
Gold Content of Coins
Although many gold coins, such as the Chinese Panda and the Australian Kangaroo, contain 99.9% or 99.99% gold, some coins, such as the American Eagle, do not. The American Eagle is made of 22 karat gold, which contains 91.67% gold, combined with 5.33% copper and 3% silver. This mixture creates a more durable coin, as pure gold can be a bit soft for a circulating coin. All of our gold coin product pages list their exact metal content on the “Specifications” tab.