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Buy Gold Coins: Varieties of US Gold Coins

Blog May 2, 2012

US Gold Coins: Categories of Coins Available For Purchase in the US

The most impressive aspect of buying US minted gold coins is that they are recognized all over the world. Gold Traders broadly put them under two categories, which are Numismatic Gold Coins and Gold Bullion Coins.

•    Gold Bullion Coins: These coins are bought basically for their gold content. Collectors don’t usually collect these coins as they are not scarce in quantity. There are two bullion gold coins minted in USA:

•    The American Buffalo Gold Bullion coin. These coins were introduced by the US Mint in 2006. The design of these coins was inspired by the Buffalo Nickel, which was originally minted between 1913 and 1938. The reason these coins are appreciated all over the world is that they have a composition of 99.99% pure gold and do not contain any alloy for making the coin more durable. These coins are not produced in different sizes and are available only in one ounce.

•    The American Eagle Gold Bullion coin. The production of these coins dates back to 1986 and is available for purchase in four sizes, – 1/10 ounce, ¼ ounce, ½ ounce and 1 ounce. These coins are made up of 91.67% pure gold and the rest of it is made of an alloy of silver and gold to make the coins hard and to increase their longevity.
•    Numismatic Gold Coins: These gold coins have a twofold advantage, one being that they have a sizable gold content and the other is that they are rare as well. Numismatic coins are often commonly called “US rare gold coins”. These coins were minted in the US between 1795 and 1933 for the purpose of circulation. In today’s times there are two types of numismatic gold coins that are of great interest to both collectors as well as buyers and these are:

•    Proof Gold Coins.
These coins possess the same design as Mint State gold coins. However, they have some notable differences. These coins were never minted for the purpose of circulation. They were produced very carefully, utilizing a lot of time and by being struck many times using highly polished planchets. Because of this, proof gold coins are considered to be extremely rare.

•    Mint State Gold Coins.
These coins were actually minted with the intention of being circulated for trade and commerce. However, an interesting thing to note here is that these coins were never circulated. Even today these coins are available in their original minted condition and it is because of this that they are termed as “Mint State”. They have been graded on the numerical scale of the American Numismatic Association to have a Mint State of 60-69.

Gold is a huge purchase and if you want to buy gold coins, it is advised that you consider hiring services of a professional gold trading company, which will help you make an informed decision in considering US gold coins.

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

Sources & References In This Article

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