Gold $2,416.80   $34.30  Silver $31.58   $1.90  Platinum $1,090.70   $23.40  Palladium $1,020.00   $14.60

The laws of each issuing country specify the purity of the gold in gold coins that are legal tender. Many countries mint legal tender gold coins, including the U.K., Canada, Australia, and the U.S. Gold coins stamped with monetary denominations are classified as legal tender, while others are called “rounds.” Bullion can be sold as bars, ingots, or, in many cases, non-legal tender coins, which are distinguished by their weight rather than their monetary value. The precious metals experts from First National Bullion, the best place to buy gold in San Diego, offer a brief explanation of the purity of gold in coins and bullion. The purity of gold used in coins and bullion is defined as the percentage or number of “karats” of pure gold used in the finished product. Coins minted since 1800 contain at least 90 percent gold, and many well-known coins issued in recent years still only contain 90 percent pure gold, or 21.6k. These include British gold sovereigns and French gold francs. More than 50 years ago, using 90 percent gold in coins was standard practice, but these days, many coins contain 91.67 percent gold, which metallurgists, collectors, and investors refer to as 22k. To mint 22k gold coins, 91.67 percent gold is fused with other metals or alloys, such as silver or copper. This method is widely used in countries all over the world because the higher the gold content, the softer and finer the coin, and pairing the gold with a stronger metal increases durability. The American Gold Eagle, the South African Krugerrand, and the Canadian Maple Leaf are all 22k legal tender coins. Other countries issue a variety of rounds or commemorative coins in 22k gold. In addition, a 22k gold coin can contain as much gold as a 24k coin, depending on the size and weight of the coin. The 22k gold coin will weigh more than the 24k coin due to its higher alloy content. Numismatists regard 24k gold coins, which are 99.9 percent gold, as the purest gold coins available, and many countries mint and issue these coins. Collectors and investors highly value these coins and carefully store and preserve them to prevent damage. Some 24k gold coins are the American Buffalo coin and Austria’s Philharmonic €100 gold coin. As stated above, bullion is defined as non-legal tender coins or gold cast as bars or ingots. Avid investors prefer to buy “fine” gold bars or ingots, which are almost 100 percent pure. Because of fine gold’s softness and fragility, owners rarely handle gold of this purity to preserve its value. Fine gold determines the daily gold spot price for investors and vendors. Bullion collectors can choose the purity and type of gold they purchase according to their preference for collecting rounds, commemorative coins, bars, or ingots. Whether they’re looking to buy or sell palladium bars, gold coins, or silver bullion, San Diego residents trust the reputable dealers at First National Bullion and Coin. You can rely on our experienced professionals when you’re looking to add precious metals to your collection or investment portfolio. Call one of our precious metals experts today at 858-666-6570. The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.

By |2021-01-13T04:37:46-08:00July 6th, 2020|Miscellaneous|0 Comments