Gold coins have been used as a currency for more than 5,000 years. Today, legal gold coins are minted by governments and banks around the world and sold to investors and collectors worldwide.
To this day, gold represents the ultimate form of wealth and prosperity. The gold’s value is inherent and continues to grow during uncertain economic times. Stability and the high value of gold are some of the reasons why investors decide to invest in coins and expand their portfolios. Whether you are looking to invest, hedge inflation, or acquire precious metals, now is the perfect time to purchase some of the world’s best gold coins on the market.
Buying gold coins and bullions is an excellent way to diversify your portfolio and increase the chance of earning more money in the future. However, one of the most important considerations when investing in precious metals is purity. Due to increased popularity, gold is sometimes mixed with other metals, affecting its purity.
A small difference in purity can have a significant impact on gold’s value.
In this post, we will discuss the history of gold coins, gold purity, and the world’s purest gold coin to help you understand precious metals and make a more informed decision when it’s time to invest.
Table of Contents
The Origin of Gold Coins
Gold coins have been used for hundreds of thousands of years as payment for products or services. People used them to buy groceries and clothing, finance wars, settle debts, and more.
The first coin was minted around 600 BC when King Alyattes from the kingdom of Lydia produced one for personal uses. The coin was stamped with various pictures and set the standard for future gold coins.
The Roman Empire and Ancient Greece established the use of coins in Europe. When they first started to produce gold coins, they used them to buy goods and finance wars. The British Noble, German Augustulus, and Italian florin are some of the first gold coins used as currency. Other parts of the world, such as South America, Africa, and China, have used gold coins as their most trusted and valuable currency.
What Are Gold Bullions?
Gold bullions are disc-shaped coins made from gold. The governments’ Mints guarantee the purity and weight of gold bullion coins. For a coin to be considered bullion, its value must be obtained from the current price and weight of gold.
In 1967, South Africa created the first gold bullion coin, which weighed precisely one ounce. The famous Krugerrand was made from 11 parts of gold and 1 part of copper and was designed to be gold bullion for international markets. The model was so successful it influenced other countries such as the U.S., Canada, the U.K., China, and Australia.
Today, the South African Krugerrand, American Gold Eagle, Gold Australian Kangaroos, Canadian Gold Maples, Britannias, and Austrian Philharmonic are recognized globally and accepted as the most convenient form of a gold bullion coin.
Are bullion coins made of pure gold?
Over the years, the composition of gold has changed. Ancient coins were minted of a naturally occurring mixture of gold and silver (which at that time contained 45% gold). Years later, Darius The Great produced an 8.4gr gold coin with almost 95.6% purity.
Since then, much has changed. With advances in technology and innovations in precious metals production, the Canadian Maple Leaf and the American Gold Buffalo are known as the purest gold coins in the world with 99.999% gold purity.
The Purest Gold Coin in the World
Many potential investors looking to invest in precious metals turn to gold bullion coins. Gold is an excellent hedge against inflation, retains its value in uncertain financial times, and outperforms other investments. If you are interested in investing in gold coins, it is good to know what the purest gold coins are and how to invest in them.
#1. Canadian Maple Leaf
The Maple Leaf sets the gold standard among the gold bullion coins. The famous Canadian Maple Leaf is traded worldwide as one of the few one-ounce gold coins. It was introduced over four decades ago as the second Mint-issued bullion gold coin when the South African Krugerrand was difficult to find.
Today, the Maple Leafs are accepted and recognized worldwide as gold bullion coins. With 99.99% gold purity, Maple Leafs are the purest gold coins in the world. They are more respected and popular than the U.S. Eagle, making it an excellent addition to your investment portfolio.
#2. American Buffalo
The American Buffalo was presented in 2006 as the U.S Mint’s answer to the Canadian Maple Leaf. With 99.99% gold purity, it is the purest gold coin available in the United States. Each coin has the “1oz .9999 Fine Gold” stamp.
While it is the purest gold coin in the U.S., it is not the most popular among investors, who prefer the American Eagle gold coin. In 2014, the Mint sold more than 400,000 American Eagle gold coins and around 180,000 American Buffalos.
The American Eagle relies on copper and silver alloys to increase durability, while the Buffalo is purely one troy ounce of 24k gold.
#3. American Eagle
The American Eagle is accepted and recognized worldwide. One side boasts a male eagle flying an olive branch to a female eagle and her hatchlings, and Lady Liberty is displayed striding on the other. The popular 1-ounce gold coin boasts only precious metals from the U.S. Mint.
The American Eagle coins contain 5% copper and 3% silver for durability. It is a 22-karat gold (like the African Krugerrand) with 99.99% gold content. It is easy to find and buy domestically, and it is undoubtedly an excellent addition to any investment portfolio.
#4. South African Krugerrand
The original bullion coin, the African Krugerrand, remains one of the most popular choices for investors worldwide. The Krugerrand is a 22-karat gold coin with 1.1 oz 99.99% gold and 1/11oz of copper.
While some collectors complain it is not as detailed as some other coins, the Krugerrand has been around for more than 70 years and is as durable as ever. Each coin has an “FYNGOUD 1oz Fine Gold” stamp.
The value of this coin depends on the dollar exchange rate and the current gold price.
#5. Austrian Philharmonic
Austrian Philharmonic bullions coins are available as gold and silver. While they are recognized worldwide, they are most popular throughout the U.S. and Europe. You can easily purchase Philharmonics in Europe and store them in safe places, including Das Safe in Central Vienna.
The largest Philharmonic coin is the 1-ounce coin (the largest one in diameter) with ¼ oz 99.99% gold purity (24k). It is the only issued coin in euros and officially approved by the Austrian Mint.
As gold bullion coins, the Austrian Philharmonic was and still is a must-have option for investment portfolios. It is also very attractive among passionate collectors.
#6. Australian Kangaroo
The geographical position has made Australian Kangaroo coins a top choice for Asian investors. Also known as Australian Gold Nuggets, the Kangaroo coins are among the few gold bullions to change their design every year.
They are 99.99% 1oz gold and were promoted internationally when the Perth Mint created the first one-ton gold coin in 2011.
Why Buy Gold Bullion Coins?
Buying gold bullion coins is an excellent way to start expanding your investment portfolio. Gold coins offer many benefits, including affordability, flexibility when buying/selling, durability, portability, and liquidity. Even though large institutional investors, banks, and governments prefer gold bars as a form of investment, coins are also an excellent way to open the door of precious metals investments and grow your wealth.
Experienced investors prefer gold coins due to the low premiums. Despite the added cost for mining, transporting, and storing the coin, the price of a gold bullion coin is close to the market price.
When compared to gold bars, coins offer more advantages, including:
- Coins are well-minted, which gives them a higher aesthetic appeal.
- Coins come in different designs and varieties.
- Coins have a higher value depending on their collectible price and age.
- Coins are internationally accepted.
- Coins come in smaller weights, which makes them perfect for transportation and storing.
- Coins are harder to counterfeit due to their unique designs.
Are you interested in learning more about the purest gold coin, investing in precious metals, and other related topics? Learn About Gold is the one-stop destination for you. From blog posts and articles on gold trends, investment strategies, and more general facts, the website provides the necessary information you need to decide whether you want to diversify your portfolio and invest in gold.
Besides the vast selection of information and articles, Learn About Gold excels at matching potential investors with the best gold IRA providers on the market. If you are interested in investing in gold coins, bars, or bullions, go to our website to see how our IRA partners can help you.
Contact us today for additional information.
With advances in technology and innovations in precious metals production, the Canadian Maple Leaf and the American Gold Buffalo are known as the purest gold coins in the world with 99.999% gold purity.How much is 1 pure gold coin worth? ›
Gross Weight: . 1091 troy ounces. Official Face Value: $5. Actual Street Value: $160-210.Which gold coin is the purest? ›
24 karat gold coins contain 99.99% fine gold and are considered the purest form of gold. At the same time, 22k gold coins include 91.67% of gold, 5% silver, 2% copper, and 1.3% zinc.Are gold coins 100% pure gold? ›
All American Eagle Gold Proof Coins contain 91.67 percent (22-karat) gold. The gold weight and diameter will vary with each coin denomination, as specified below. The coins are minted at the U.S. Mint at West Point bearing the “W” mint mark.What gold coins are 9999 pure? ›
Background. American Buffalo Gold Bullion Coins are one ounce of . 9999 fine 24-karat gold. They are investment-grade coins whose weight, content, and purity are guaranteed by the United States government.How much is a gold coin worth in Canada? ›
|1 oz Gold Maple Leaf 9999 (2014 or Later)||$2,630.77/coin|
|1 oz Gold Maple Leaf Damaged or 999||$2,549.55/coin|
|Gold Maple Leaf under 1 oz||$86.21/g|
|1 oz Recognized Gold Bar||$2,614.98/bar|
1 GLC = 0.01151 USD
How does the market feel about Goldcoin today?
You can also purchase gold bars and coins directly from the Royal Canadian Mint's online store, but there is a daily purchase limit. The Mint produces several 99.99% pure gold coins ranging from one gram to one ounce. Surf on the Mint's website to find gold coins in your price range.Do Canadian banks sell gold coins? ›
Canada's Big 5 banks – TD Canada Trust, CIBC, BMO, RBC and Scotiabank – all sell gold and other precious metals. If you're interested in buying from a bank, talk a local bank representative to find out what your options are, and make sure your investment comes with a secure way of storing your precious metals.Do banks sell gold coins? ›
Some U.S. banks do sell gold bars and coins as well as silver coins, but the vast majority of U.S. banks do not make gold or silver available to the public. Banks usually avoid selling precious metals because of their price fluctuations.
24 Karat gold coins are a better investment than gold jewellery as making charges for coins are cheaper. However, it is highly subjective and depends on for what purpose you are buying gold.Which country gold is pure? ›
The country with the purest gold in the world is Switzerland, a country known for paying attention to quality. Below, the precious metals experts from First National Bullion and Coin, the best place to buy gold in Scottsdale, explain why this particular country has an affinity for pure gold.How can I tell if my gold coin is real? ›
Because of the density of Gold with 19.32 g/ml, it is heavier than other metals. So, if you wish to check the purity of a gold coin, simply put it in water. If it is made of pure gold, the coin will hover over the button or completely sink, whereas, in the case of any other metal, the coin will simply float.What is the safest gold coin to buy? ›
Consisting of 91.67 percent gold, the American Gold Eagle gold coin leads the pack of the top investment coins. It's “safe” as well, since the weight is backed by the U.S. government. In 2021, these coins were redesigned to include enhanced counterfeiting measures.How much is 1 oz of 9999 gold worth? ›
This gold bar contains 1.00 troy ounces of bullion. Based on the metal content and weight, the intrinsic melt value of one 1 oz Gold Bar Valcambi Suisse . 9999 Fine 24kt is $1965.00 based on today's gold spot price.Is a Krugerrand 24k gold? ›
No, a Krugerrand coin is not 24 karat gold but rather a 22 karat gold coin.How much is a 1 lb gold bar worth? ›
There is also a troy ounce, which is the unit used when measuring precious metals. With troy ounces, 12 ounces equal one pound. Given these conversions, a 1-pound gold bar would be currently worth $21,880.08.Why did Canada produce the $1 million gold coin? ›
In 2007 the Royal Canadian Mint produced the world's first million dollar coin. The 100 kg, 99999 pure gold bullion coin with a $1 million face value was originally conceived as a unique showpiece to promote the Mint's new line of 99999 pure 1 oz Gold Maple Leaf bullion coins.How much is a Canadian $100 gold coin worth? ›
$100 Canadian Gold Coin - $1,123.Are $1 gold coins real gold? ›
“Gold dollars” have been minted from 2000 to the present. They are all made with a copper core and an outer layer of manganese brass alloy that appears golden in color, but they contain absolutely no precious metal gold whatsoever.
United States Mint: Gold American Buffalo Coin
The 1 oz Gold American Buffalo is a classic choice for any gold investor. This coin contains 0.9999 fine gold with a weight of 1 troy oz. The coin displays James Earle Fraser's design of a Native American man, called Fraser's 1913, Type 1 design.
The $100 denomination has been produced by the US Mint since 1997 in the form of the American Platinum Eagle bullion coin. The bullion American Liberty union of 2015, 2019, and 2021 as well as the proof American Liberty 225th Anniversary union of 2017 were struck in 24 karat gold.Is gold tax free in Canada? ›
Since holding gold itself (physical or otherwise) is not taxable, what is taxed most of the time relates to the sale of the gold. The capital gains tax on gold is the tax you pay on the profit you make after selling. The total amount you receive is not what is taxed, only your gain on the asset.Why did Canada sell its gold? ›
In a May 2022 interview with Kitco news, former Bank of Canada (BoC) Gov. David Dodge explained the reasoning behind the bank's decision to off-load its gold holdings. “The issue is quite clear, that it costs to hold gold, whereas holding U.S. or Chinese or Euro bonds yields you a return,” said Dodge.Can you keep gold found on public land in Canada? ›
Minerals are the property of the Crown. If you discover gold or other minerals or gemstones on land not covered by a mining tenement, and the ground is Crown land (under the Mining Act 1978), then you are free to keep what you have found (as long as you hold a Miner's Right).
While gold can help add balance and security for some investors, there are also risks to watch out for. Potential performance lag over time: Gold might outpace other assets during specific periods, while not holding up as well to long-term price appreciation.How much gold can I buy without reporting? ›
The answer is that there is no limit on how much gold you can purchase without reporting it. However, any sale of precious metals, including gold coins, must be reported on your tax return. So, while there is no limit on how much gold you can purchase, you will still need to report any sales to the IRS.What is the best way to invest in gold in Canada? ›
Best Way to Invest in Gold
Investing in gold bullion bars is the purest way to invest in gold. It is also more expensive but you pick and choose the size of bars you wish to purchase. Gold coins and jewelry have a high risk of having fillers and less gold content.
|$ 1 - $ 136,999||$ 2,084.31||6.00%|
|$ 137,000 - $ 342,999||$ 2,080.38||5.80%|
|$ 343,000 - $ 684,999||$ 2,077.80||5.67%|
|$ 685,000 - $ 1,368,999||$ 2,075.18||5.53%|
Pure Gold Bullion Bars Are Cheaper Because of the Lower Premium. Buying in bulk allows you to pay a lower premium over the spot price. The same applies to silver. For this reason, gold coins generally cost more than gold bars.
Gold coins are known to have more sentimental value than gold bars both historically and culturally. Simply put, gold coins can be more ideal for you than gold bars if you want to invest in something with a more historical and cultural value. Again, gold coins have more collectible value than gold bars.Is it better to invest in gold bars or gold coins? ›
Ideal for Long-Term Investment
If you consider to hold physical gold for a long period of time without any intention to sell part of your investment overtime, gold bars will be the best option for you. They will cost you less per gram compared to gold coins. This is because of their lower premium, as explained below.
According to GoldSilver, an online precious metals dealer, the best times of the year to purchase gold are in early January, March and early April, or from mid-June to early July.Is gold cheaper in Canada than India? ›
India. The gold price is pretty much the same globally. The cost of gold jewellery in India is generally based on the weight. In Australia and Canada it is based on what the jewellery retailer believes he can get for it including his rent, his labour and other outgoings.Which gold is 100% pure? ›
24 carat is pure gold with no other metals. Lower caratages contain less gold; 18 carat gold contains 75 per cent gold and 25 per cent other metals, often copper or silver.Why is Indian gold so yellow? ›
In the United States, gold is often alloyed with metals such as silver, copper, and zinc to strengthen it and make it more durable. These alloys can give the gold a more white or pale yellow appearance. However, in India, gold is often alloyed with copper and silver, which can give the gold a more yellow appearance.Does real gold stick to a magnet? ›
What to do: Hold the magnet up to the gold. If it's real gold it will not stick to the magnet. (Fun fact: Real gold is not magnetic.) Fake gold, on the other hand, will stick to the magnet.Do gold coins stick to magnets? ›
What Kind of Metals Are Not Magnetic? In their pure, natural forms, gold, silver, aluminum, copper, brass, and lead are not magnetic. This is because they are all weak metals. Adding iron or steel to these metals can make them stronger and magnetic.Can I use apple cider vinegar to test gold? ›
The apple cider vinegar gold test is a great choice if you want to test your jewelry at home, as it is readily available and easy to do. After all, real gold will not react when exposed to the acids in vinegar, toothpaste and more.Are Canadian gold maple leafs a good investment? ›
Additionally, the Canadian Gold Maple Leaf Coin is one of the world's most popular and well-respected coins, making it a wise investment choice. Gold Maple Leafs offer a great value proposition.
The Canadian Gold Maple Leaf is arguably one of the most famous gold coins. It contains 1 troy ounce of 99.99% pure gold and has been produced by the Royal Canadian Mint since 1979, being one of the first modern gold bullion coins in the market.Which gold coins are easy to sell? ›
- The American Gold Buffalo. ...
- The Gold American Eagle. ...
- The Austrian Philharmonic. ...
- The Canadian Gold Maple Leaf.
The Big Maple Leaf (BML) is a $1 million (CAD) gold coin weighing 100 kilograms (220 lb) (3,215 troy ounces).How much is an ounce of gold worth in Canada? ›
In Canada, the current price of gold is 2,615.51 Canadian dollar per ounce.How much is a 1 oz 24k gold bar worth? ›
|Gold bar size||Price*|
|1-ounce (0.91 oz t)||$1,847.87|
|100-gram (3.22 oz t)||$5,941|
|1-kilogram (32.15 oz t)||$59,410|
|* Prices as of June 9, 2022, as reported by GoldPrice.Org.|
Each one ounce Maple Leaf coin contains exactly one troy ounce of pure . 9999 fine gold and carries a face value of 50 Dollars (CAD). The classic one ounce Canadian Maple Leaf gold coin has a diameter of 33 mm and is 2.87 mm thick, approximately the same size as an extra thick United States half-dollar.Is it legal to own gold Krugerrands? ›
Today, Krugerrands are still considered one of the most popular gold coins in the world. They are legal to buy and sell and for countries to import and have been since 1991.Why is the Krugerrand so expensive? ›
So next time you wonder why Krugerrands are perceived to be so expensive – keep in mind that they are valued based on the gold market, which has proven longevity in terms of returns and has increased value owing to non-renewable natural resources.Are $1 coins real gold? ›
In 2000, the dollar gained a new golden color. The coins are now made with a mix of manganese, zinc, copper, and nickel metals.How much does a 1 oz gold coin sell for? ›
This gold coin contains 1.00 troy ounces of bullion. Based on the metal content and weight, the intrinsic melt value of one 1 oz American Gold Eagle is $1962.00 based on today's gold spot price.
The value of a Saint-Gaudens $20 Coin can vary significantly based on the coin's mint year and overall condition. For example, a 1907 Saint-Gaudens in good condition may sell for around $1139 or close to the current price of gold. A 1908-S, on the other hand, may sell for over $8600 if in uncirculated condition.How much is a $50 gold piece worth today? ›
|$50 Gold Eagles||Value Range|
|2021 Type 1 $50 MS||$2,510 - $2,530 $2,510 - $2,530|
|2021-W Burnished $50 MS Type 2||$2,550 - $2,880 $2,550 - $2,880|
|2021 Type 2 $50 MS New Design||$2,510 - $2,530 $2,510 - $2,530|
|2022 $50 MS||$2,510 - $2,530 $2,510 - $2,530|
Some U.S. banks do sell gold bars and coins as well as silver coins, but the vast majority of U.S. banks do not make gold or silver available to the public. Banks usually avoid selling precious metals because of their price fluctuations.Do banks have gold dollar coins? ›
Where can I get golden dollars? The U.S. Mint sells golden dollars directly to the public from its website (Off-site), or you may ask your local bank if it has any inventory.Are $20 gold coins real? ›
The magnificent $20 Liberty Head Gold piece, struck from 1850 thru 1907, is the largest U.S. gold coin minted for circulation. Each one was made using . 9675 ounces of pure gold and is over 1¼ inches in diameter.Is it smart to invest in gold? ›
Gold is considered a hedge against inflation
Gold and other precious metals have long been considered a smart way to fight inflation. That's because it tends to hold its value and preserve your purchasing power over the long haul, despite fluctuations in the dollar.
Gold is often considered a strong asset for diversifying your portfolio, based on its stability and performance compared to other markets. The precious metal's appeal tends to increase when investors face economic uncertainty and recession, as more people become interested in buying gold.What is the largest 1oz gold coin? ›
The Largest Gold Coin in the World: 1 Ton Gold Kangaroo
The first is the 2011 One Ton Australian Kangaroo gold coin created by the Perth Mint in Western Australia to showcase the mint's popular gold Kangaroo series that began in 1989.
Background. The 2015 American Liberty High Relief Gold Coin depicts a new modern rendition of the figure of Liberty. The high-relief 24-karat gold coin, with a mintage limit of 50,000 and a nominal denomination of $100, was minted at West Point, NY, and went on sale July 30, 2015.What are the rarest gold dollars? ›
The type 2 Indian Princess coins are the scarcest of the $1 gold coins today. In fact, only about 2 million of the type two coins were ever struck. The rarest of these coins is the 1855-D (Dahlonega).
In January 2021, an example graded Mint State 65 became the most valuable gold coin in the world — but only for a few months — when it sold for $9.36 million at the same Heritage auction that featured the Plain 4 Draped Bust Eagle.How much is a $50 Canadian gold coin worth? ›
|Qty||Unit Price||Bulk Price|
|1 - 19||$2,059.60||$39,132.40|
|20. or +||$2,063.60||$41,272.00|
The conversion value for 100 USD to 1481.241 GOLD. BeInCrypto is currently using the following exchange rate 14.813.Is there a 100 dollar coin? ›
American Eagle Platinum Proof Coins
The U.S. Mint produced its first legal tender platinum proof coin in 1997. Its $100 face value is the highest denomination for a U.S. legal tender coin. Produced for collectors, it bears the “W” mint mark of the West Point Mint, where it is produced.