Gold coins minted since 1800 were usually 90–92% gold. Today’s best gold coins are Britannia and Canadian Maple Leaf. These are made of pure gold. We also have an American Gold Eagle, 91.7% (22 karats) gold with a slight mix of silver and copper. In the past, gold coins were used for everyday transactions. Today, they are mainly used by investors and collectors. Even though they are legal tender, people don’t use them in regular transactions because the metal value is higher than their face value. Let’s explore more about the best gold coins to consider for your investment and collection.
History of Gold Coins
Around the 5th or 6th century BCE, coins were introduced, ending the barter system. The exact place where coins first appeared is still debated. But we have some formal details to share with you:
First Gold Coins
The history of gold coins is 700 B.C. old. The first ones were discovered in Turkey within the Lydian Kingdom. The metal used to make the coins was known as electrum. This is a mix of gold and silver. These gold coins had unique carving designs on one side.
Ancient China Coins
In ancient China, they also started using coins around the same time. At first, they used sea snail shells and later switched to pieces of gold with the names of Chinese cities.
Romanian Gold Coins
From around 27 B.C., the Romans made coins worth their actual value. Over time, they started using less precious metals in some coins, including copper, bronze, silver, and gold.
Industrial Era Coins
Until 1550 A.D., making coins slowly involved hammering metal between two dies. This method made coins generic and easy to fake. New inventions came in Asia, such as casting and pouring melted metal into molds. Both of the procedures offered cleaner coins, more or less.
Why Invest in Gold Coins?
Acquiring gold coins is driven by two primary motivations: their numismatic value, which pertains to historical or collector’s significance, and their gold content. Now, why invest in gold coins? Well, investing in the best gold coins comes with the following benefits:
- Excellent Returns: It diversifies and balances risk, especially during market downturns.
- Transparent Pricing: The Government regulates this through the Metals and Minerals Trading Corporation.
- Certified Purity: Gold coins from prominent mints carry the Hallmark or assay certification. This guarantees 22 or 24-karat gold purity.
- No Risk of Fake Gold: Investment-grade gold coins incorporate advanced security features.
Top 5 Gold Coins
To save you some time and effort, we have put down some of our favorite investment-grade gold coins for you-
1. American Gold Eagle
Authorized by the Gold Bullion Coin Act of 1985, the American Gold Eagle program includes four weights (1 oz, ½ oz, ¼ oz, 1/10 oz). It also has two versions (bullion and proof). It was released in 1986. The proof version of American Eagle coins initially had only the 1 oz size. The proof program expanded to include ½ oz in 1987 and ¼ oz and 1/10 oz in 1988. 2006, a burnished version hit the market to celebrate its 20th anniversary. The back of the coin features a family of nesting bald eagles, designed by Miley Busiek. Eagles are one of the best gold coins for investment. 2024 American Gold Eagles have been released now, and you can buy them at the best prices from various popular dealers. All American Eagles are IRA eligible.
2. Gold American Buffalo
Launched in 2006, the American Gold Buffalo features James Earle Fraser’s iconic Buffalo Nickel design. It’s the first-ever 24-karat gold coin from the US Mint, boasting a .9999 fineness. Unique releases include the 2013 reverse proof and the 2008 fractional-weight coins, a one-time production. An American Buffalo gold coin is certified by authorities like NGC or PCGS. Grades range from Mint State/Proof 70 (perfect) to Mint State/Proof 69 (near-perfect), and designations like DCAM/UCAM (Deep/Ultra Cameo) and FS/ER (First Strike/Early Release).
The US Mint has recently launched the newest addition to the American Gold Buffalo series for 2024. This coin showcases James Earle Fraser’s iconic Buffalo Nickel design and maintains its reputation as a 24-karat gold coin with a .9999 fineness.
3. Gold Canadian Maple Leaf
The Royal Canadian Mint introduced the Canadian Gold Maple Leaf in 1979. It was the first .9999 pure gold (24-karat) coin globally. The Canadian Maple Leaf coins feature a constant reverse design with the sugar maple leaf. Updates to the effigy of Queen Elizabeth II on the obverse have occurred over the years, showcasing Canadian artists’ work. Over time, additional weights were introduced, including 1⁄2 oz, ¼oz, 1/10oz, 1/20oz, and 1 Gram. Face values range from $50 (1 oz) to $.50 (1 Gram). Security features of a Canadian Maple Leaf gold coin include a laser-micro-engraved maple leaf and radial lines on both obverse and reverse, making it a must-buy for IRA investments.
RCM has issued the latest 2024 Maple Leaf coins featuring the first-ever effigy of His Majesty King Charles III after the passing of Queen Elizabeth in 2022.
4. British Gold Britannia
Launched in 1987 as a strong South African Gold Krugerrand competitor, the British Gold Britannia is one of the best gold coins for investment. It entered a growing gold bullion market alongside other coins like the Canadian Gold Maple Leaf and American Gold Eagle. Struck by the Royal Mint, the Gold Britannia initially had 22-karat gold, later shifting to 24-karat in 2013. The weight changed from 34.05 grams to 31.1035 grams post-2013. These 2024 1 oz British Royal Mint gold coins have a face value of £100 (GBP). Philip Nathan’s revised winning design features the influential and powerful female figure Britannia on the reverse. The obverse features King Charles III in the left profile without wearing a crown.
5. Gold South African Krugerrands
The gold coin South African Krugerrands debuted in 1967 to showcase South Africa’s gold. It was the first coin for private investment. It began as a 1 oz coin with 22-karat gold. The coin shows Paul Kruger on one side and a Springbok antelope on the other. Designs changed a bit but stayed similar. At the start, they made 40,000 coins a year, but in 1978, they made 6 million. After apartheid, they made fewer coins, like 23,277 in 1998. In 1980, smaller versions (1/2 oz, 1/4 oz, and 1/10 oz) came. All versions still have 22-karat gold.
Some top-quality gold coins for investment are the American Gold Eagle, Gold American Buffalo, Canadian Gold Maple Leaf, British Gold Britannia, and South African Krugerrands. To ensure safe purchasing, think about looking at the best bullion dealers suggested by Bullion Mentor for great deals and lots of choices in high-quality gold coins.
Conclusion
While considering gold coin investments, these best gold coins should be on your wishlist. You can also explore other options as well. But make sure you check factors like the mint’s reputation, purity and fineness, market liquidity, and security features. If you want more informative posts like this to make better decisions during your bullion investment journey, check out Bullion Mentor! Also, check out more fresh updates for price comparisons of all your wishlisted bullion coins and bars and get the best deals with Bullion Mentor.
