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The Benefits of Collecting Gold Coins

Sep 11, 2008
Collecting gold coins is an enjoyable way to have fun while building your investment portfolio. Gold is a liquid asset, easy to buy or sell on a worldwide 24/7 market. It is a hobby that provides a hedge against a declining dollar and inflation, and you only pay taxes when you sell them. Whether you are collecting ancient coins, or gold coins like the American Eagle or Canada Gold Maple Leaf, this hobby combines beauty with history and value.

Ancient coins have long been sought after by collectors. Gold coins were treasured by the Greek, Roman and many other ancient societies. They were designed to honor people, including many famous Emperors, and Christ, in addition to being a facilitator of trade.

Gold coins in the US are still created by the US Mint. They offer a safe value versus the ups and downs of paper currency. When the US went off the gold standard, paper money was no longer backed by US gold, and it became volatile. Gold coins have not circulated since 1933, when hoarding gold (not owning gold) was made illegal in the US. This order was repealed in 1974 by President Ford. Today it is legal to trade gold as a commodity, but not to use as money.

The value of gold tends to move up when stocks move down. The US Mint produces a variety of gold coins but production is limited and demand is up. The American Eagle gold bullion coin is minted from gold mined in the US. It's weight, content, and purity are guaranteed by the US Government. First issued in 1986, it is 22 karat, with some alloy added for durability, and comes in the popular 1 ounce size, plus 1/10 ounce, 1/4 ounce, and 1/5 ounce sizes.

Another popular gold coin produced by the US Mint is the American Buffalo gold bullion 24 karat $50 gold coin that looks like a nickel and costs a one troy ounce price, currently about $848 (Sept 2008). It features a Native American Indian on the front with a Buffalo on the reverse side.

The beautiful Canada Gold Maple Leaf has been produced since 1979. It is fully backed by the Canadian government, and is 99.99% pure. Australian Gold Krugerrands also come in 1 ounce, 1/10 ounce, 1/4, and 1/2 ounce coins, and is 22 karat pure. Like most gold coins, an alloy is added for durability.

Gold is naturally occurring and cannot be produced by man. Proof coins are more valuable than uncirculated and are struck just for collectors. It is recommended to buy larger amounts or quantities to avoid extra costs like dealer mark-ups and shipping. When handling gold coins hold them only by the edges, use gloves for uncirculated coins, to avoid skin oil damage. Coins should not be cleaned, nor stored in plastic PVC holders which can damage coins over time.
About the Author
Author endorses Art Morse who is a jeweler for more than 20 years try these online sites for a good selection. 1999-GOLD $5.00 MAPLE LEAF
Greek coins
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