Modern collector/investment bullion coins (which do not require good mechanical wear properties) are typically 24k, although the American Gold Eagle continues to be made at 22k. Currently, the Canadian Gold Maple Leaf coin contains the highest purity gold of any popular bullion coin, at 99.99% (.9999 fine).
Other than collector's gold coins, gold bullion coins are popular among people who desire a "hedge" against inflation or a store of value. South Africa introduced the Krugerrand in 1967 to cater to this market; this was the reason for its convenient and memorable gold content—exactly one troy ounce.
It was the first modern, low premium (i.e. priced only slightly above the bullion value of the gold) bullion gold coin.
Bullion coins are also produced in fractions of an ounce – typically half ounce, quarter ounce, and one-tenth ounce.
Bullion coins do not carry a meaningful face value, as their value is mainly dictated by their troy weight and the current market price of the precious metal. (If a face value is minted on the coin, it is done for legal or other reasons and it is nearly always significantly less than the actual value of the coin.)
Gold has an international currency code of XAU.
Gold bullion coins usually come in 1 oz, 1/2 oz, 1/4 oz, 1/10 and 1/20 oz. sizes.
Most countries have one design that remains constant each year; others have variations each year, and in most cases each coin is dated.
Scrap Gold Buyers is please to purchase any gold coins, please contact us for details.
