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Buying 1 oz Gold Coins

Gold coins have existed for thousands of years and have been used as both a means of payment as well as a store of wealth during that time. At present, there are so many different gold coins on the market that it is often difficult to differentiate between the ones you would like to get your hands on and the ones you want to stay away from. Of course, the acquisition of a gold coin comes down to your personal preferences, but if you do not know all there is to know about a given coin or set of coins, you may have somewhat skewed preferences.

This article’s purpose is to both introduce you to and allow you to spot the differences between some of the most popular gold coins. As you could have probably guessed, 1 oz is the most commonly found size of gold coin. By taking in and understanding the differences between coins from different parts of the world, you can more accurately determine what coins are a great addition to your collection and/or what coins are best served as an investment vehicle.

Just as is the case with bars, even the smallest aspects of a coin can mean all the difference with regard to pricing and rarity. As is the case with all precious metals, gold coins are measured from the troy ounce, so any coin marked as “1 oz” weighs 1 troy ounce or just about 31.1 grams no matter the purity.

1 oz .9999 Gold Bullion Coins

 

1 oz American Gold Eagle

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First produced by the US Mint in the mid-1980s, the American Eagle quickly ascended to the status of one of the world’s most popular gold coins. The iconic imagery and master craftsmanship makes the American Gold Eagle one of the most beautiful coins on the market today.

Gold Purity: .9167 (22 karat)
Mint: US Mint
Weight: 1 troy ounce
Lowest Price Found at BGASC.com: ~$45.08 over spot

Design and Pricing

The design of the American Gold Eagle coin is what really draws the attention of collectors and investors. On one side, you have the image of a Walking Liberty, which is nothing more than a more lifelike Statue of Liberty that seems to be walking towards the edge of the coin. On the other side of the coin, you will find the image of an American Bald Eagle, branch in its talons, preparing to land in its nest. Surrounding the imagery are all sorts of indications, such as the coin’s $50 face value, the year, and the 1 oz weight.

American Eagles can become a bit pricey simply because there are only a limited number of them minted each year. Because of the inordinately high demand and relatively low annual mintages, it is easy to see why the price of these coins can very quickly be driven upwards. That being the case, you can usually purchase a regular uncirculated gold eagle for competitive rates compared to coins from elsewhere in the world.

1 oz Canadian Gold Maple Leaf

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Canada’s answer to the Gold Eagle comes annually in the form of the latest Gold Maple Leaf release. The Gold Maple Leaf is produced by the Royal Canadian Mint and is often touted as being the most sought after gold coin in the world due to its consistently high purity and beautiful design. Perhaps the most beautiful aspect of the Gold Maple Leaf is how simplistic, yet breathtaking, the coin’s design is.

Gold Purity: .9999
Mint: RCM
Weight: 1 troy ounce
Lowest Price Found at BGASC.com: ~$39 over spot

Design and Pricing

The design of the Canadian Gold Maple Leaf coin is as simplistic as it is beautiful. As you could have probably guessed, the one side of the gold coin is dominated by a very detailed, textured image of Canada’s national symbol—the maple leaf. A small maple leaf security feature as well as the .9999 purity can also be found on this side of the coin. On the coin’s other face, you will find the profile image of Queen Elizabeth II as well as the CAD $50 face value and the year in which the coin was minted.

Surprisingly enough, the higher purity Canadian Gold Maple Leaf can often be found for prices that number less than those attached to the purchase of an American Gold Eagle. The reason for this is due to the fact that the Royal Canadian Mint tends to produce an absurd number of these coins year in and year out.

1 oz Chinese Gold Panda

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The Chinese Gold Panda has been produced since the early 1980s and is one of the most sought after gold coins in the world. What makes this coin unique is the fact that its imagery changes from year to year, meaning that no two Gold Pandas are identical to one another. While this fact draws in a number of collectors, the extremely high purities do well to draw in a healthy number of investors too.

Gold Purity: .999
Mint: Chinese Mint
Weight: 1 troy ounce
Lowest Price Found at BGASC.com: ~$53.93 over spot

Design and Pricing

Like was already stated, the design of the Chinese Gold Panda coin changes from year to year. While the coin does always feature the image of a panda (or group of pandas), the setting is always different. This aspect of the coin is adored by collectors who cannot seem to shy away from getting their hands on the newest Gold Panda release every year. While the design of the coin’s one face is always changing, the other side of the coin, without fail, always depicts the image of the Chinese Temple of Heaven.

Because of the extremely high demand for Chinese Gold Pandas, they are often a bit pricier than other 1 oz gold coins. You will often find that, whenever a coin is sought after heavily by both investors and collectors, its price will be inflated just a little bit.

1 oz South African Gold Krugerrand

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The South African Gold Krugerrand has been produced since the late 1960s, meaning that it was in circulation long before other gold coins we know and love today. Seen as a way to market South African gold to those living outside of South Africa, the Gold Krugerrand was expected to become immediately popular straight from the offing. Unfortunately, due to the Apartheid traditions of the day, most of the world (including the United States) forbid the import of South African gold coins. Now that Apartheid is a thing of the past, Gold Krugerrands can be found in the collections and investments of people from all over the world.

Gold Purity: .9167 (22 karat)
Mint: South African Mint
Weight: 1 troy ounce
Lowest Price Found at BGASC.com: ~$42.05 over spot

Design and Pricing

The design of the Gold Krugerrand is very simple and features the image of Paul Kruger (South Africa’s first president) on one side, while featuring an image of a Springbok (South Africa’s national symbol) on the other. Apart from the words “South Africa” and “Krugerrand”, the only other indication on the coin are for the 1 oz weight and the year in which the coin was produced.

Because Krugerrands have been on the market so much longer than many other 1 oz gold coins, it should come as no surprise that they can often be purchased without an astronomical premium attached.

Collectible 1 oz Gold Coins vs Investment Gold Coins

Prior to your purchasing of any gold coins, it is important that you take note of some of the following information. For one, it is always important to determine whether you are purchasing a coin and adding it to a collection or if you are purchasing gold coins as a means of investing in the metal. By answering this question, you can more readily narrow down your search and more easily acquire the best coin(s) for you specifically.

Something else you want to pay close attention to is the condition of the coin which you are buying. While most reputable gold dealers will only sell you brand new, uncirculated coins, this does not hold true for every dealer of precious metals. With gold bars, condition rarely means a difference of price, but with coins, even the smallest imperfection can reduce the value of your purchase.

1 oz Gold Coin Prices and Selection

The amount of money you will be asked to fork over to execute the purchase of a 1 oz gold coin is entirely dependent on a few different factors. Among these price-determining factors are the demand for the coin, how many are produced in a given year, and how its purity stacks up against the purity of other coins.

If you are seeking out a coin whose annual mintages are low and demand is high, you will more than likely be forced to pay more for that coin than you would for a similar 1 oz gold coin that was not as readily sought after by investors/collectors. With that said, however, there are so many different types of 1 oz gold coins on the market today that you should never really be forced to pay an insanely high premium for a coin. By doing a little bit of shopping around and a little bit of comparison shopping, you will ensure that you are getting the best coins for the best possible prices.

1 ounce Gold Coin Packaging and Appearance

The way in which gold coins are packaged depend entirely upon who you are purchasing from. While every dealer does do their best to ensure that your coin(s) arrive at your door in the same condition they were in when dispatched, the way that these dealers go about ensuring the coin’s quality is always different. Realistically, there is no single correct way to package a gold coin, but most reputable dealers nowadays ship their product with safety and security in mind.
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