Determine the Value of Bullion Gold Coins
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You can buy coins such as Canadian Maple Leaf, American Eagles, South African Krugerrands and China Panda Coins. The largest bullion coin to be minted is the Australian Gold Nugget. It has 99.9% pure gold and is available as a one kilogram coin . The three letter code set by The International Organization for Standardization (ISO) for gold bullion is XAU. Gold Bullion Coins are issued in the form of legal tender . When you check the coin’s face value, it is below the value of gold it holds. So, a gold bullion coin that is worth $50 can be higher in gold value, if the price of the gold rises above the price at which it is purchased. As someone interested in investing into Gold Bullion Coins, it is important for you to determine the value of the coin before investing into it.
- Find Out Coin Weight. The value of the gold coin is based in its weight. The weight of the coin is indicated on its reverse side. Bullion gold coins are available in various weights. For example, if you look into the weight of the Canadian Maple Leaf , you can see it in the form of ¼ troy oz, ½ troy oz, 1/10 troy oz, 1/20 troy oz and 1 troy oz. Similarly gold bullion coins of various countries are available in different weight forms.
- Find out Gold Spot Price. The spot price is the current market price of gold. This factor determines the price of the Gold Bullion Coin, as well as the price at which you sell the gold coin. You can check out sites such as Monex or NYMEX to learn about gold spot price. Mostly gold is sold in troy ounce, but you can also buy in grams. One troy ounce has 31.103 grams.
- Determine the Coin Value. This is easy as you just have to multiply the gold coin price into the weight. This gives you price of the coin and you will know how much of cash you must have to buy the coin.
- Find out the Coin Price. The actual value of the gold bullion coin is based on factors such as distribution charges, manufacturing costs, high quality finish, purity, and commission to be given to dealer and so on. The actual value of gold on a particular day does not determine the bullion gold coin price. You will find the coin price to be higher than normal gold coins available in the market.
- If you are looking towards buying gold bullion coins at a lower price, you need to check out America's largest rare coin firms. Gold bullion coins minted prior to 1933 are a good option. Not only are they valuable, gold confiscation laws are not applicable for them.
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