How to Determine Which Gold Coin is Best to Buy

A number of coin collectors have a passion for gold coins.  These gold coins are relatively difficult to find and are expensive. Sometimes the coin collector is fortunate as he is offered extra gold coins.  The gold coins are costly and the buyer is forced to buy the best coin when he cannot afford to buy all of them.  Therefore, gold coin and scrap gold buyers should check the coin properly to make sure that the coin they’re buying is of high quality and the coins worth money value in the market. This is what I was taught to do by a professional so I could sell my gold at a pawn shop or a jewelry store later on.

The following are some instructions on examining the quality of the coin according to a rare coin dealer when you are looking to buy gold bullion coins:

  • Examine the coin to find out what karat is the coin. The coin may be of 10k, 14k, 18k, 22k or 24k. 24k is the highest karat as it is pure gold. Moreover, this is the softest gold.  The 22k gold contains approximately 92% gold.

  • Determine the weight of the coin. A gold coin has the weight of one ounce. A coin which has weight of one ounce is of higher quality than a coin with a lesser weight. So weight is an important factor in determining which coin is of higher quality.
  • Check whether the gold coin is certified or not. If it is certified, examine the validity of the certificate since there are vendors who counterfeit the certificate because a certified coin is more costly than an uncertified coin. There are methods of examining the legitimacy of the certificate.
  • Antique coins are more expensive than the new ones so carefully examine the coin to determine whether it is antique or not. At times the vendors lie telling that the coin is antique or older. That is the reason for which you must examine the coin so you may not buy a coin, paying high amount of money, which is not that expensive.
  • Take all the time you need to examine the coin you are going to buy.  If you are desperate to buy the coin try to control emotions. If you are unsure about your decisions even after you examine the coins, it is advisable to ask an expert to examine it for you. As the gold coins are pretty expensive, it is wise to take time examining the coin before reaching to a decision.
  • Looking at other options is also very important. Before you buy a gold coin, it is prudent to check out other vendors selling gold coins. This is because they may have rarer and more worth buying coins than the coin you have first planned to buy. This can help you have a variety of things to choose the best from.

Before you reach your final decision you must examine the pros and cons of buying the coin, also you might want to check this article about the best gold etf. If you are satisfied with your choice, you must have done the right thing.

Filed Under: Arts & Entertainment


About the Author: Cody Riffel is a regular contributor to MegaHowTo. She likes to write on variety of topics, whatever interests her. She also likes to share what she learns over the Internet and her day-to-day life.

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