There is no time like the present to invest in gold coins. They have remained a highly lucrative investment option for thousands of years. They are a long-term store of value that offers you the ability to both diversify your portfolio and safeguard your wealth. Let’s take a closer look at gold coins and everything you need to know before you get started.
Also read: What is gold?
What are Gold Coins?
Gold bullion coins look similar to the legal tender coins that we use daily in that they have the same shape - they’re flat and disc-like. However, that’s where similarities end. These gold coins are extremely valuable and their weight and purity are guaranteed by a sovereign state. Each coin is expertly crafted with intricate designs, making each variety distinct and instantly recognizable.
What are gold coins worth?
The value of each bullion coin is based solely on how much gold the coin contains. To be considered a bullion, investment-grade coin, the gold coins must be refined to between 99.5% and 99.99% purity. This sets them apart from numismatic and semi-numismatic coins, which are valued based on their rarity and historical significance.
It also sets gold coins apart from gold jewellery, which is mainly valued based on the craftsmanship required to produce the piece. In contrast, most gold jewellery only contains between 37.5% (9-carat) and 99% (24-carat) gold, as it is often alloyed with copper or silver to strengthen it.
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Worth Their Weight in Gold
Most gold coins are approximately 99.99% pure gold. However, this will differ based on the type of coin. For instance, the first bullion coin was created in 1967 in South Africa. There, experts made them with 11 parts of pure gold and 1 part copper. This was the first gold coin to go mainstream, and it is known as the Krugerrand.
Similarly, American Gold Eagle gold coins and British Gold Sovereign coins also contain copper and/or silver to strengthen them. This helps to protect the coins against scratching and other damage when they’re in circulation.
Wondering how many grams in 1 oz of gold coins? Because gold coins are measured in troy ounces, each ounce will contain 31.103 g. But because we often add another metal to these coins, they often weigh slightly more than one ounce. For instance, the Krugerrand mentioned above weighs approximately 33.93 g. This breaks down to one ounce of pure gold, with the addition of 1/11 ounce of copper.
Which bullion coins hold the highest concentration of gold? Both the Canadian Maple Leaf and the American Gold Buffalo are world-renowned for their purity levels. Both of which are 99.999% pure gold. You can read more in our blog post "What are Gold Coins Made of?".
Are Gold Coins a Good Investment?
Whether you’re a budding investor or you wish to diversify your portfolio, you should consider investing in gold bullion. Gold is a rare and highly attractive metal that has been desired by humans for thousands of years. This is why it makes for a good investment.
Gold provides you with an element of financial insurance, as it performs well during times of increased financial uncertainty. Historically, during times of economic or currency crises or periods of high inflation and deflation, gold tends to appreciate, unlike stocks and bonds.
In fact, the value of gold coins tends to rise in times of economic uncertainty. In the midst of the 2020 global pandemic, for example, the value of gold reached an all-time high. This illustrates how resilient the value of gold is, even when assets like stocks and property are underperforming.
Owning physical gold is a long-term way of safeguarding your wealth. It offers the opportunity to diversify the risk associated with other investments. Therefore, it’s the ideal addition to your investment portfolio.
Read more: Is buying gold a good investment?
The Benefits of Choosing Gold Coins
Whilst bullion bars offer many of the same benefits as bullion coins, gold coins offer some distinct advantages that you may find appealing. When each variety is minted, it is branded with a complex design. This not only adds to the aesthetic allure, but it also means that each coin is instantly recognisable worldwide. In addition, this makes it incredibly difficult to counterfeit gold coins. Each coin contains unique markers and micro-graving within its design.
Adding gold coins to your investment portfolio provides you with ultimate control over your wealth. As you are choosing to purchase a large number of small units, rather than one large unit, you have flexibility when it comes to cashing in on your investment. You can choose to sell small portions of your wealth whenever you choose. As you can purchase smaller quantities, gold coins are ideal for investors with smaller capital outlays.
Gold coins aren’t just worth their weight in gold, they may also have some numismatic value too. Depending on their age, some coins may have added commemorative or collectable value. In addition, the value of investment-grade gold isn’t impacted by VAT, as all bullion bars and gold coins are exempt.
Where to Buy Gold Coins?
When it comes to choosing where to buy gold coins research is key. It’s a decision that you shouldn’t make lightly, especially if you’re planning on trading online. To ensure you’re working with a reputable trader, we recommend checking customer testimonials or reviews to get a better understanding of who you will be working with.
With over 14,000 clients and more than $1 billion in transactions, we can guarantee you you’re in good company when you choose to trade with GoldCore. You can even check out our many favourable reviews from our clients here.
Also read: Is it a good time to buy gold?
How to Buy Gold Coins?
Buying gold coins with GoldCore could not be easier or more efficient. To get started, you can simply click the “open account” green box at the right corner of our homepage. We offer a range of accounts to suit your needs. We also offer the option of trading in different currencies.
Choose from one of the following accounts:
- Personal Account: This account is ideal for private individuals. You can use this account to manage your investments, buying, storing, selling or taking delivery of your gold coins whenever you want.
- Joint Account: This account type can be used by two or more private individuals, and it is similar to the above-mentioned personal account. You can opt for a single or dual signature account, whichever suits you best.
- Corporate/Trust Accounts: The account type allows companies, charities, and trusts to trade. To set up this type of account, you will need to provide specific documentation and you will need to appoint a representative to act on behalf of the company/trust/charity.
- Pension Account: Our pension accounts offer the opportunity to process precious metal-approved pension investments to ensure a secure future. You should note that pension assets can never be delivered to the individual while the asset resides in a pension account.
- GoldSaver Account: This account type acts as a savings account. You can save a pre-set amount in gold coins, every month, for a minimum of 12 months. After this period has passed, you can either cash in on your investment, take delivery, or continue to grow your wealth by saving on a month to month basis. Our GoldSaver account is exceptionally popular amongst investors, as it is budget-friendly.
You should note that all accounts offer the opportunity to buy, sell, store, and take delivery of gold coins and bars, with the exception of the GoldSaver account.
Read more: How to buy gold coins?
Documents Needed to Open an Account
Next, you will need to provide us with the required documentation. Each account operator needs to provide us with a copy of their passport or driver’s license to prove their identity. You will also need to provide proof of residency (e.g. a utility bill, bank statement, or government-issued correspondence). This is a security measure that we are legally required to adhere to, but it also adds another layer of security for our clients.
There’s no need to make physical copies and post them, though. You can simply take a high-quality photo of your documents and upload them to our site.
The Next Step: Funding Your Account
When you have decided which account suits your needs best, and you have provided the required documentation, your account is open. Next, you will need to fund it. Here at GoldCore, we want to make this process as easy as possible for you. Therefore, we offer our clients the option to use a bank transfer or a credit/debit card. Additionally, we allow trading in a wide range of currencies.
Choose an option that works for you:
- Bank transfer: Transferring funds from your bank account to our bank account is one of the most cost-effective options. We hold segregated client fund bank accounts, so you can rest assured your money is stored separately from our own.
- Credit/Debit card: Eager to get started? You can start trading online right away using your credit or debit card. You can purchase up to $/£/€50,000 (USD, GBP, EUR) worth of gold coins online instantly! It's worth noting that to do this, you will need a special verified by Visa password or Mastercard SecureCode password for security purposes.
Now that you have your account set up and funds available, you are ready to invest in a lucrative and exciting new opportunity. You’ll just need to decide what variety of gold coins you would like to purchase.
Not Sure Which Bullion Coins Will Suit Your Needs?
No problem, our GoldCore team are more than happy to help. Getting involved with gold bullion can be overwhelming at first. That’s why we offer our clients a free strategy call. We can talk you through each option and give you tailored recommendations based on your needs. You can also use this opportunity to ask us any questions that you may have.
You can schedule a call with our highly-trained representatives here. Alternatively, call our office on one of the following numbers: Ireland +(01) 653 3426, UK +44 (0) 203 086 9200, US +1 888 381 8130.
To learn more about how to buy gold coins, check out our blog: How to buy gold coins?
Where Should I Store My Gold Coins?
One of the major benefits of gold coins is that they are easy to store. If you own a small amount, you could easily store them in a secure home safe. This may require insurance cover in addition to your home insurance policy. Safety deposit boxes are another popular option, however this is not something that we recommend.
For the ultimate in safety and security of your gold coins, we recommend choosing GoldCore professional storage facilities. We act as professional custodians with highly secure facilities in Ireland, Zurich, London, Dubai, Singapore, and Hong Kong.
Can I Travel with Gold Coins?
If you’re a jet-setter, you may be wondering “can I travel with gold coins”? The good news is that generally speaking, you’re free to bring your precious metals abroad with you. However, you may need to do some research before you pack your bags. Some countries have slightly stricter regulations and so, you will need to declare your gold bullion to customs officials.
When travelling to the US you will need to declare your gold bullion (coins or bars) to Customs and Border Control as you enter the country. This is because bullion is a high-value item, and thus, customs require full transparency.
When travelling with gold coins, you can bring them on most international flights. However, we recommend contacting the airline that you’re travelling with beforehand. This gives you the opportunity to enquire about security checks of luggage and any weight restrictions. We recommend storing your gold coins in your hand luggage so that you can keep them with you at all times. However, hand luggage is often subject to stricter weight restrictions, so you should check this beforehand.
In addition, we recommend taking a form of documentation to prove ownership of your gold coins. This can be an invoice or receipt of purchase. This could help avoid unnecessary questioning by security or customs officials.
You can find more detailed information in our article “Can I Travel with Gold Coins?”
Are You Ready to Invest in Gold Bullion Coins?
Whether you’re ready to dip your toe in the realm of precious metal investments, or you wish to diversify your existing investment portfolio, GoldCore is here to help. Choose from highly sought-after gold coins, such as world-famous American Eagles or Canadian Gold Maple Leaf coins. Alternatively, you can choose from some of our other stunning gold coins:
- The British Gold Britannia
- The British Gold Sovereign
- Gold Australian Kangaroo
- South African Krugerrand
- Austrian Philharmonic
Set up an account from the comfort and convenience of your own home, with our team on hand to answer any questions or help you along the way. You can reach us here. We look forward to trading with you!
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