The first coins ever produced were made during 6th millennium BC in Lydia, what is now western Turkey out of electrum, which is an alloy of silver and gold and could be found in the rivers in the area. The introduction of these coins is attributed to King Croesus. They were similar to coins produced today; one side had the face of a bull or lion and the other side bore a punch mark or seal. They were an important part of trade during those times and continue to be widely used in both trade and business today. Although the coins have changed, these metals still have many of the same uses they did in ancient civilizations.
Gold coins were extremely popular, and as the value of the dollar began to fall in the United States in the 1920′s, many people began buying up gold coins and gold bullion as fast as possible. Due to this, Franklin D. Roosevelt signed an order in April, 1933 stating that people were no longer allowed to personally own an abundance of gold coins, gold bullion, or even gold certificates. They were required to deliver all but five ounces of their gold to the Federal Reserve, with an exchange rate of $20.67 per troy ounce. This limitation was lifted in 1974 and gold coin purchasing and collecting became popular once again.
These days, coins are collected by historians and coin enthusiasts and are used for investing in gold; these types of coins that are kept as a store of value are called bullion coins. Gold is good for exchanging value because it is easily broken down into small portions without changing the nominal value. Most people would rather have gold coins instead of silver because they weigh less but are worth more, making them easy to transport, and gold doesn’t decay as fast as other metals. Gold is more difficult to counterfeit because of its high density. Gold is also scarce, giving it a high value and making investing in gold very profitable.
There are many different types of coins all over the world, such as Chinese Pandas, Canadian Maple Leafs, American Eagles, and African Krugerrands. The UK Gold sovereign is one of the older coins still in circulation; it was first produced in 1489 for Henry VII of England and was an official bullion coin. Australia began producing gold coins in 1855 and continued until 1870 when they started minting British designed gold coins. The Chinese Panda is a gold bullion coin produced by the People’s Republic of China and was introduced in 1982. The design of the coin changes annually and is made in various sizes.
Of all the different coins in the world, the American Eagle gold coin, designed by Adolph A. Weinman and featuring a walking liberty design, is probably the most popular gold coins. They were minted for the first time in 1986 and authorized by US Congress in 1985. They are available in four different sizes: 1/10 ounce, ounce, ounce, and 1 ounce. Their prices depend on their size and they are available in proof and bullion coins. They are understood to be a very sound investment due to their quality and gold content; they are also produced in platinum and silver as well, with all three being leading bullion coin investments.
The American Buffalo gold coin, designed by the well-known, American sculptor James Earl Frasier and commonly referred to as the “gold buffalo,” was introduced to the United States in 1913 by the US Mint, and is still offered by many authorized purchasers. The coin features a Native American Chief on the front side and a buffalo on the back. The back also contains an inscription of the coin’s weight, the gold content, and the denomination of the coin. The US government has guaranteed the purity and quality of the American Buffalo gold coin, making it the safest and most risk free trade opportunity.
Gold coins have had their ups and downs over the years, but today they are considered a profitable investment, especially since their value always stays high. Another reason they are considered an important investment is because most countries in the world use gold to back their dollar; their national wealth is assessed by the amount of gold they have. This is why gold and gold coins are profitable no matter where in the world you are located; it is highly valued globally. People who begin to doubt the value of the dollar often purchase gold coins because they know it is a financially secure investment.
Investing in gold coins holds minimal risk to investors, making it a good standalone investment with a value that is normally inverse to that of the stock market. Gold is considered a commodity that stays in demand and is one that always holds good returns. It is easy to purchase coins one at a time and slowly build up the size of your portfolio. If you need money, you can sell the coins you have at the current market rate.
The price of gold is rising. Find out more about buying gold coins at www.GoldCoinCollection.net.