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The Benefits of Collecting Gold Coins
Gold and silver have been used to make coins for both business and trade ever since the first coins were made in Lydia, or western Turkey, in the 6th century BC. They bore faces of either a bull or a lion on the front and either a seal or a punch mark on the back. They were made from an alloy of gold and silver called electrum, which could be found in the local rivers of the region. They weighed anywhere from .2 grams to 17.2 grams. When these first coins were produced, the practice of coin collecting and investing began and has evolved in various cultures over hundreds and thousands of years.
Gold coins were popular up until the Great Depression in 1933 when the government took control of gold to restore the wealth of the nation. Because the United States was a leader in gold coin purchasing, selling, and production, this put an end to the global coinage era. Franklin D. Roosevelt signed executive order 5102, which forbid American\'s to hoard any kind of gold bullion, gold coin, or gold certificate. If they didn\'t turn in all but five ounces of their gold in to the Federal Reserve they faced a fine up to $10,000 ($166,000 inflation adjustment, 2009), ten years in prison, or both. President Gerald Ford signed a bill that made owning gold legal once again in 1974, and since then gold coins have once again gained popularity and are still popular all over the world.
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 coins, often called the \"gold buffalo,\" were designed by the American sculptor James Earle Fraser and feature a Native American chief on one side and a buffalo on the other. Along with the buffalo, the back side contains an inscription of the coin\'s denomination, weight, and gold content. They were introduced to America in 1913 by the US Mint and are offered by a large chain of authorized purchasers. They make a sound investment and are the safest form of free trade because their quality and purity is guaranteed by the American government.
Investing in gold coins can be a very profitable investment. The value of the coin stays high, making it an extremely profitable asset. Investing in gold is not something that is restricted to the United States; it is profitable in all cultures and countries because the national wealth of nearly all countries is measured by the amount of gold they possess. This is the main reason why many people that have doubts about their country\'s currency will buy gold coins. In a situation like this, the bullion coins will work well; however older gold coins (pre-1930\'s) have an even greater degree of safety.
Many people worry about risk when investing, but luckily the risk is minimized when investing in gold because it is a standalone investment and the value varies inversely to the stock market. After all, gold will always be in demand, and therefore it will always give good returns. It can even be owned, sold, and transferred without documentation. Once you build up your portfolio, you can either hold on to your gold coins, or you can sell them at the current market rate if you are ever in need of money. The bottom line concerning gold: it is a sound investment practice with minimal risk involved that is popular the world over, just as it has been for thousands of years.
Learn more about collecting gold coins. Stop by Kevin Goldstein\'s site where you can find out all about gold coins and how they can make a great investment.
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