How to Buy Gold Coins

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How to Buy Gold Coins

Before I begin to write about how to buy gold coins, the first thing you need to determine is the size of the coins you’re looking to buy. Below you will find a chart with displaying the weights of different coins. All coins are in troy ounce.

Gold Coin weights: 1 oz. – 1/2 oz – 1/4 oz. – 1/10 oz – 1/20 oz. ( Canadian Royal Mint )

The above list of coins contains the most common found on the market today. The 1 oz. coins carry the cheapest premium over spot. The smaller coins tend to carry higher premiums. The reason for the price increase is due to the manufacturing of the coins. I have heard the Royal Canadian Mint will reject 30%+ of the 1/20 oz gold coins they produce; this is very costly and time consuming, so the cost to buy the coins increases. Also contributing to the price, Government mint gold coins are VERY precise in dimensions and for good reason: this makes counterfeit coins easy to detect.

If you’re looking to buy small (fractional) gold coins for “barter”, as I have heard many people asking about, buy a couple ounces worth of fractional gold coins. Don’t buy only 1/10 or 1/20 ounce gold coins as the premium over spot is VERY expensive and in my opinion you are wasting money. The bulk of your gold coin investment should be in 1 oz gold coins. Also DO NOT BUY GRADED COINS OR PRE 1933 GOLD COINS!!! If you are looking to invest in gold, and not rare coins, stick with the basic gold bullion coins. If you’re on the phone with a dealer telling you to buy graded or collectable coins HANG UP THE PHONE. You should not feel uncomfortable when calling to ask questions – if you do, hang up and call another dealer.

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