Types Of Coins To Know About When Shopping To Add To Your Collection
Many people enjoy the activity of buying and collecting rare gold coins to add to their investment portfolio. To make the process of buying such rare coins seamless, it is important to know about the basic types of gold coins. This article will introduce the different kinds available for you to add to your collection.
Foreign Gold Coins
Your options increase greatly when you begin examining the many different types of collectible foreign currency. You may want to study books on foreign coin collections or first speak to a consultant before diving into your first purchase. Please note that the price of the coin will depend on the gold content of the coin.
Pre-1933 US Gold Coins
Prior to 1933, when President Franklin D. Roosevelt stopped the circulation of gold coins in the United States, gold coins were available freely and quite commonly used. Many owners of these common gold coins did not return them when they were recalled at the time, which means there are plenty still available to this day. The value of these gold coins today are essentially equal to the gold content they have.
Bullion Gold Coins
While they resemble true gold coins, bullion gold coins are simply gold bullion in a round form. The bullion coins are produced by both different countries as well as private entities. This is a good choice for a beginner gold coin investor and collector because, while it has no monetary value, they are good starter collection pieces that can be purchased at a reasonable price from places like Distinctive Coins.
Silver Coins
Silver coins are known as excellent coins for trade because they are federally-backed. With this said, they are a bit pricier than purchasing silver bars or silver jewelry. If you know how to invest, spend, collect, and sell wisely, then you will do well purchasing US silver coins.
US Commemorative Gold Coins
These modern gold coins are minted with the purpose of being commemorative pieces for events like the XXIII Olympics in Los Angeles in 1984. This was the first time since 1933 that gold was minted again in the United States. Commemorative gold coins are not minted with the intention of circulating them and are quite costly. You would only want to purchase a commemorative gold coin if you know the high premium is something you can pay and you have no intentions of getting any monetary value out of them. You can still purchase them today from the United States Mint.