Posted on: 29 April 2015
If you have a coin collection, but it doesn't contain many gold coins, then it is time to change that. Gold coins are an integral part of any collection. They are expensive, but they add variety and value to your collection.
Gold for Gold's Sake: Bullion
The first thing to do is understand the different types of gold coins available. There are two types of gold coins: Bullion and Numismatics.
Bullion are coins made for people who want to own physical gold. They were not minted for currency.
Many people collect bullion from all over the world. One of the first gold bullion coins was the Krugerrand. These were produced by the South African government. Later, countries such as Canada, Mexico, China, and the United States, issued their own gold bullion. These coins have beautiful designs. For instance, the Canadian Maple Leaf, the Chinese Panda, and the Australian Kangaroo.
Here is a list of gold bullion coins.
The Collectibles: Numismatics
Numismatics are coins that are collected regardless of their metal value. People collect them for their historical importance. This does not mean they are not worth money. Often times, a gold coin that was used as currency will be worth more than a gold bullion coin.
Gold coins in United States currency have a very interesting history. They were common during the late 19th century, but were phased out in the 1930s. At this time, the government demanded that almost all gold coins were to be turned over.
Because of this, there is a huge interest in gold coins. The most popular types include the Indian Head Quarter Eagle ($2.50 face value) and the Double Eagle ($20 face value). The Indian Head Quarter Eagle has an iconic image of a Native American in a headdress on the face, and a bald eagle on the reverse. The double eagle has two designs. The first is called the Liberty Head. This was not a popular design. It featured a Greco-Roman bust on the front. The design was later re-imagined by famed designer Saint Gaudens. Gaudens based the coin design on his statue William Tecumseh Sherman.
When you purchase a numismatic coin, the price will depend on the condition of the coin. This is not true with bullion. The price of bullion is tied to the price of gold.
If you are not skilled in grading coins, then you should purchase a coin that has already been graded. Even if you feel that you are skilled at judging a coins grade, it is helpful to have a professional service grade it for you. This will help you when it comes time to resell it.Share