What is the Best 1 Oz Gold Coin to Buy?
There are a wide variety of gold coins to choose from when purchasing them for either personal collection or investment purposes, making finding the one suitable a tedious endeavor that involves research, setting personal financial goals and consulting an expert.
The American Gold Eagle coin is currently the most sought-after modern bullion coin, although other options such as Canadian Maple Leaves and South African Krugerrands may also be suitable.
1. American Gold Eagle
The American Gold Eagle is one of the most desired bullion gold coins to own, recognized by bullion dealers around the world and easy to sell or trade at any time. Furthermore, this coin serves as legal tender meaning you can use it as currency when purchasing goods or services.
These coins are produced by the US Mint and come in four sizes: 1 oz, 1/2 oz, 1/4 oz and 1/10 oz. Each one features an alloy made of 99% gold mixed with small amounts of silver and copper for durability; their weight, content and purity is guaranteed by the United States Government.
Each coin features the date and “UNITED STATES OF AMERICA” written in Roman numerals on its obverse side. On its reverse is Jennie Norris’ new eagle design first unveiled in 2021 which boasts impressive levels of detail such as feathers on its wings. Individual or sets can be sold together with plastic flips for protection.
2. Gold Buffalo
The Gold Buffalo is one of the newest bullion products released by the US Mint and features a stunning design that has found a place in collectors’ collections worldwide.
On one side of this coin is a profile image of a Native American Indian created by famed sculptor James Earle Fraser and representing three tribes: Two Moons, Iron Tail and Big Tree. Meanwhile, on its reverse is depicted a majestic and wild American Buffalo.
This design has become an iconic icon, further increasing awareness of the Buffalo Nickel coin that first went into production in 1913 and honors Native American communities that once resided here before European settlers arrived.
Each coin contains 1 troy ounce of pure 24k gold and is backed by the United States government, carrying a face value of $50. Many investors choose to encase their Gold Buffalo coins with plastic for additional protection.
Established in South Africa in 1967, the Gold Krugerrand has quickly become one of the world’s oldest and most acclaimed gold bullion coins. The coin features Paul Kruger on one side with its national animal springbok on its reverse face side.
The coin is widely recognized for being among the most cost-effective 1 oz gold coins available today, due to its large mintage scale allowing economies of scale. Its low production costs stem largely from this factor.
Since 1980, the Gold Krugerrand has been available in three fractional denominations: 1/2 oz, 1/4 oz and 1/10 oz. This allows investors to diversify their portfolio with various sizes of Krugerrand coins.
However, these smaller denominations of Gold Krugerrand do not qualify as legal tender and thus cannot be placed into Gold IRAs; nevertheless they still offer an excellent investment opportunity to those who purchase them.
4. Commemorative Coins
Many investors prefer smaller denominations when buying gold coins, as they’re more cost-effective and suitable if you can’t afford an entire ounce at one time. Keep in mind, however, that minting costs remain constant no matter the coin size; smaller coins still require additional work in their production process.
The South African Krugerrand coin has been an immensely popular bullion coin since 1967. Boasting an antelope design, this 22 carat gold coin offers high purity and strong liquidity; plus it is more cost effective than most others on this list!
Commemorative coins are specially-minted coins created for special purposes that may only be circulated for limited amounts of time to honor certain people, places, events or institutions. Although not legal tender, commemorative coins often include surcharges to raise funds for specific community projects; collectors usually purchase these collectibles due to their historical and numismatic value – unlike circulation coins that must often be sold back at face value.