Gold is a popular choice among novice and seasoned investors who want to diversify their investment portfolios. When buying gold, you’ll likely discover that varying purity levels can impact its value. So what are the purest gold coins available on the market?
Below, we discuss some facts you need to know about understanding the actual gold content and face value of popular gold coins.
Are All Gold Coins Made of Pure Gold?
No, all gold coins contain an alloy mixture of primarily gold and other precious metals for optimal coin durability and strength. The purest gold coin in the world is 99.999 percent gold, which means that no 100 percent pure gold coins exist.Gold coin manufacturers purchase the purest form of gold extracted from ores and molded into gold bars. During the minting process, manufacturers melt these bars to create coins. Minting companies combine the melted gold with other precious metals into a coin before stamping on the identifying symbol.
The final result typically ranges from 90–99.99 percent pure. Common precious metals used in gold coinage are silver and copper.
What Are the Purest Gold Coins?
The purest gold bullion coins in circulation include the following:- Canadian Gold Maple Leaf: The Canadian Maple Leaf, produced by the Royal Canadian Mint, has the highest gold purity of all circulating coin options, with 99.999 percent gold purity. Gold Maple Leafs are extremely popular among bullion investors because of their gold purity.
- American Gold Buffalo: The American Buffalo, produced by the United States Mint, boasts 99.999 percent purity, though its gold content continues to increase yearly.
- Austrian Philharmonic: This fine gold coin produced by the Austrian Mint also features an impressive 99.99 percent gold content, each weighing half an ounce. Austria began producing gold Philharmonic coins in 1989, before adopting euros as the legal tender just a decade later.
- Australian Kangaroo: The Perth Mint produces the Australian Kangaroo (also called the Australian Gold Nugget) at 99.9 percent purity. The face value for a quarter ounce of this Perth Mint gold coin is approximately $1 million.
- The British Sovereigns: With striking images of Queen Elizabeth II and St. George, the iconic gold Sovereign Coins offers 99.17 percent purity. Materialized by the Royal Mint, the spot price for this gold coin comes from its unique and matchless design.
- American Gold Eagle: The American Gold Eagle coin contains 91.67 percent fine gold, with 3 percent silver and 5 percent copper. The American Gold Eagle is one of the most popular gold coins on the market, offering excellent availability.
- South African Gold Krugerrand: The South African Krugerrand offers 90 percent gold with a copper alloy. In 1967, the South African Gold Krugerrand became the first gold bullion coin, weighing precisely one troy ounce. As the legal tender in South Africa, these bullion coins remain widely available and accessible to many.
Which Gold Coin Is Best for Investing?
The best gold bullion coin for investing depends on your specific financial goals. Some investors prefer the purest gold coins, which may cost more upfront, though they offer optimal investment security. You can also diversify your investment portfolio with gold coins containing higher precious metal percentages that are rare, offering intrinsic value.Some investors also prefer gold bullion with low purchase values and high accessibility for easy trading. For example, the American Eagle gold coins are widely available and extremely popular among many investment groups.
Before investing in gold coins, we recommend considering the product’s purity, weight, purchase price, age, and rarity. The value of a 1-oz. gold coin can vary significantly from product to product, depending on many factors, so review the coin’s details. We recommend consulting your financial adviser for further investment advice.
Where Can You Buy the Purest Gold Bullion Coin?
When shopping for gold bullion coins, you’ll find that many online retailers sell the most popular coins from major minters. You should purchase from a legitimate organization that sells verified, authentic products, as certain online sellers may list counterfeit coins.Most Expensive and Purest Gold Coins
The most expensive gold coin in the world is the 1933 Saint-Gaudens Double Eagle. The United States minted over 455,000 of these $20 gold coins in 1933, though all but 20 were melted down, making the existing coins extremely rare and sought-after.The coin, named after the designer Augustus Saint-Gaudens, depicts Lady Liberty carrying a torch on one side in front of the Capitol Building with a soaring American eagle on the other side. With 99.9675 percent purity, this gold coin is relatively pure and rare, allowing it to sell at auction for extreme prices.
The highest auction price for a 1933 Saint-Gaudens Double Eagle was in June 2021. A collector purchased the single coin for $18.8 million.
If you’re interested in a more accessible, less-expensive gold coin from our list of options above, consider the Canadian Gold Maple Leaf or Austrian Philharmonic. While the market prices for these coins constantly fluctuate, you can typically purchase one for a few thousand dollars rather than millions.
What Is the Cheapest and Purest Gold Coin?
One of the best ways to find affordable gold coins with decent purity levels is by purchasing lighter weights. Many coins come in different weight options that you can choose between, ranging in cost.A few options for cheaper gold coins with relatively high purity percentages include the following:
- Canadian MapleGrams: 1-gram packs of coins with 99.99 percent purity
- Chinese Gold Panda coins: options for 30, 15, and 8 grams or 1/20-ounce weights
- Congo World’s Wildlife Bald Eagle: under $100
- Fractional Britannia Gold Coins: available in 1/10 ounce weights
Are Rare Gold Coins Made of Pure Gold?
Like all other coins, rare gold coins are not 100 percent pure. Often, rare coins contain less purity than modern ones competing for the top position. What makes rare coins valuable is their limited availability.For example, the Chinese Gold Panda, produced by the Official Mint of the People’s Republic of China, features a new design in each release, which makes every coin more valuable. A Gold Panda from last year will not look the same as this year’s series.
Some popular rare options with impressive purity levels include the following:
- 1933 Saint-Gaudens Double Eagle
- Chinese Gold Panda
- Lunar Series from the Perth Mint
- Canadian Call of the Wild
Are Ancient Coins Pure Gold?
Ancient coins also do not contain 100 percent gold. Like rare options, old coins maintain value from historical associations and limited availability. Many collectors will pay top dollar to add ancient artifacts to their portfolios.Popular ancient gold coins include the following:
- Roman Nero Imperials
- Phocaea “Female Head” Electrum
- Coson Gold Stater
- Constans II & Constant IV Gold Solidus
- Nero Gold Aureus
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