July 28, 2021

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How to Invest in Gold Coins

2 min read

Gold coins are a treasure. Many invest in gold coins not only for their gold content but also for their historical value. But one cannot participate in this venture without sufficient knowledge about the bullion market.

Types of gold coins

Gold coins are mass-produced. They are also universally recognized because coin makers around the world use the same standard for their minting, storage, and distribution, making them easy to trade.

Different types of gold coins also have different prices, purity, and weight. They also have unique applications. Below are the coins bought and sold on the bullion market: If you want to know more about gold coins then you may visit https://www.gmrgold.com/.

Golden eagles

These are coins minted in the United States after 1933. They consist of 91.67% gold and 8.33% copper-silver alloy. Each coin can have a face value of $ 5, $ 10, $ 25, or $ 50. However, the market value of this type of coin is based on its gold content. When pricing an eagle coin, the face value is not important.

Golden buffalo

Also known as the American Buffalo, it is the first gold coin minted for the public by the United States government. It is a 24 karat bullion coin and has a similar design to an Indian Head nickel. It may have a face value of $ 50, but it can cost up to $ 2,000.

Krugerrand

The Krugerrand gold coin was first created in 1967 by the South African Mint for the general public. It consists of 91.75% gold and is more durable than its 24 karat counterparts. The coin is named after Paul Kruger, the first Boer president of the Republic of South Africa.

Islamic gold dinar

The Islamic dinar was first used in 2006 in Malaysia as a form of currency among the trading partners of the Islamic world. It is intended to reduce the dependence of Islamic countries on the US dollar for international spending. It is also used as payment for dowries.

Golden maple leaf

Maple Leaf is Canada's Official Gold Bullion. This coin is mined only in Canada and is one of the purest in the world. Introduced in 1979, the Gold Maple Leaf has legal tender status in Canada for its face values of $ 1, $ 5, $ 10, $ 20, and $ 50.