Gold is by far the most sought after precious metal, used in electronics and mechanical manufacturing, medicine, and jewelry industries. Gold is infinitely recyclable, so even scrap gold holds significant value. Gold has stood the test of time, not depreciating in value regardless of economic downturns or the discovery of less expensive material alternatives. After centuries of popularity, gold remains the standard to which other precious metals are compared. Gold coins, in particular, are a sought after rarity, prized by investors, collectors, and everyone that comes across these valuable treasures.
Coins vs. Rounds
When trading, buying, and selling gold coins, you may come across another type of gold item: gold rounds. Similar in appearance to gold coins, gold rounds are also a valuable asset, but are not the same as gold coins. Gold coins are (or were) legal currency, and are printed with a government-created stamp, their monetary value, and their purity.
Gold rounds are essentially gold bars in disc form, and are stamped only with a decorative pattern, which may resemble coin-designs, but will not include a denomination. Gold rounds can be assumed to be gold bullion, like gold bars, and will not be printed with purity information. ‘
In some cases, gold rounds may be printed so closely to gold coins, that they may be mistaken for one another. Closely inspecting the coin or round will reveal tell-tale signs pointing to its origin, but if you are having trouble telling the difference, considering bringing your gold to an expert for appraisal.
Common Types of Gold Coins
Gold coins hold value well, and won’t depreciate over time. Because gold is anti-corrosive, years of aging won’t rusk or erode the surface of gold coins, helping them stand the test of time. Most gold coins have a purity of between 91% and 99% pure gold, with common additives including silver and copper. Some of types of gold coins you may come across include:
- Austrian Philharmonic Gold Coin: 1989 first mint; 24 karats; 99.9% purity
- British Gold Sovereign Coin: 1817 first mint; 22 karats; 91.67% purity
- Canadian Gold Maple Leaf: 1979 first mint; 24 karats; 99.9% purity
- Gold American Buffalo: 2006 first mint; 24 karats; 99.9% purity
- Gold American Eagle Coin: 1986 first mint; 22 karats; 91.67% purity
- South African Gold Krugerrand: 1967 first mint; 22 karats; 91.67% purity
*Note: Many of the coins listed above come in multiple sizes and weights
If you have gold coins, you want to get the best price for what you have, which means you need to find an expert to appraise your items. Some people make the mistake of sending their gold coins away to online appraisers, thinking it will be more convenient. Unfortunately, many of these popular mainstream appraisal sites do not employ real experts, and won’t give you the best prices on your gold.
Bringing your gold coins in to an experienced and well-respected precious metals buyer is the best way to have your coins appraised, and the best way to guarantee you’ll get a good price for your gold. At David Ellis, we have years of experience examining gold coins and precious metal items, and always offer the best and highest prices to our clients. We appraise, buy, and sell gold coins, rounds, jewelry, and collectables, a job we’ve been taking seriously for more than 40 years!
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