One of the oldest forms of currency, gold coins are still valuable today. Gold coins go all the way back to around 500 BC. And even though most gold coins are not being used as currency anymore, they are still legal currency in the countries in which they were made.
Most people who own gold coins are those who wish to make a safe investment. Gold coins possess a small allowance over the current gold price when you compare them to other types of gold you can invest in. Another great thing about gold coins is that if you buy one of the commonly recognized gold bullion coins (The American Gold Eagle, Canadian Maple Leaf, Australian Nugget, South African Krugerrand) you can easily sell them to almost any dealer since they are easily verified, unlike gold bars or nuggets where the dealer will have to check the gold content to be sure it is legitimate.
Gold coins can be produced in less than one once and are usually a half ounce, quarter ounce, or one-tenth ounce and sometimes even one twentieth of an ounce. The face value of gold coins are not generally useful as the value of these coins are based on the gold content and the current price of gold in the market. The face value is really just for show since it is almost always much lower than the actual value of the coin.
What determines the price of a gold coins? Well it depends on a few factors such as the rarity, the age, how many were minted, and the condition of the coin. Very rare, well kept, old coins can actually sell for millions of dollars. For example a few years ago an American Double Eagle coin from 1850 sold for $7.5 million. As you can see selling gold coins can be quite profitable if you hold onto them long enough. But if you’re just looking at non collectible gold bullion coins – well their value is determined by the gold content and the price of gold at the time.
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