Researching Gold

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Image titled Buy and Sell Gold Coins for Profit Step 1

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    Learn about coin weight. It is good to have at least some knowledge about gold coins when buying and selling. The standard weight for a gold coin is one Troy ounce (31.1 grams, a little heavier than the standard ounce). There are coins that weigh less than one Troy ounce (1ozt), but they trade less frequently, and you will pay a bigger percentage premium to buy them from dealers. That will cut into your potential profits. [2]

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    Pay attention to the difference between ounce and Troy ounce. The Troy ounce is used because a standard measurement system is needed since gold is an important, universal material. The difference between the two measurements matters more as you buy more gold. For example, a 100 Troy ounce bar of gold is not the same as 100 ounces of sugar. You would be losing 8.85 Troy ounces of gold. Calculate carefully.[3]

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    Look into bullion coins. Gold coins can be segregated into various types. The two main types are bullion and numismatic. Bullion coins are more commonly acquired by gold investors because the prices are transparent. The price of gold depends on the market price of physical investment grade gold.[4]
    • The most common bullion coins are American Gold Eagles and Canadian Maple Leafs.
    • Bullion gold coins of today usually have 90% or higher level of gold content and are 22k to 24k.

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    Learn about numismatic coins. Numismatic coins are most often purchased by gold collectors. The price of this gold coin is more dependent on outside factors, like rarity of coin, than market price. Rare collectible numismatic coins can sell at a very high premium--more than the gold value alone. Most of the buyers and sellers of numismatic gold coins have decades of experience. It is not recommended for beginners.[5]
    • A few examples of numismatic coins are British Sovereigns, 20 Swiss Francs, and $10 Eagle coins.[6]
    • Bullion coins are made year-to-year. Numismatic coins are not produced in modern times.

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    Do not rely on gold as insurance during a crisis. Gold is sometimes traded in hard times for things like cigarettes and shoes, but it won’t get you by in a time of crisis. This is because gold loses its value in times of crisis. Gold is not stable, and it is actually a commodity because it is a metal. Gold is, however, a good investment if you follow the market, carefully choose the type of coins you buy, and don’t solely rely on it for financial insurance.[7]
    • As the value of money falls, the value of nominal gold rises and vice-versa. [8]
    • You should also consider investing in silver if you are looking for something to fall back on during hard times.[9]

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