Investing in gold can seem like a very challenging endeavor. While trading leveraged gold investments can be challenging, the basics of gold investing are simpler than many people believe. Gold eagles, maples and bars all have their own advantages, so choosing which to buy can be difficult.
Here are some details regarding the different types of gold available to keep in mind before you buy or trade it.
This is an official United States gold bullion coin, authorized under the Gold Bullion Coin Act of 1985 and first released in 1986. The design is modeled after the double eagle Saint-Gaudens coin first minted in 1907. They are available in 1/10 ounce, 1/4 ounce, 1/2 ounce, and 1 ounce. They are guaranteed by the U. S. government to contain the stated amount of actual gold weight in troy ounces and they are easy to convert back to cash.
American gold eagles have a gold purity of 91.67%, with traces of copper and silver. The other metals make the coin much harder, and thus more resistant to bending or scratching than pure gold.
The Gold Eagles value can increase with the current spot price of gold, but also has a slight premium to the price of gold.
The Canadian Gold Maple Leaf is an official Canadian bullion gold coin produced by the Royal Canadian Mint starting 1979, and said to be one of the purest coins of regular issue, having no base metal at all. While it has a very pure contents of 99.9% gold, it is also easy to scratch, bend or wear, which can impact its resale value slightly. The Maple Leaf is guaranteed by the Canadian Government for its weight and purity and is as easily accepted in the United States as an equivalent to the Eagle.
One word of caution: gold is a soft metal, and since the Maple is said to be a very pure gold coin, expect that it will be easily scratched or damaged, and it can lose its value. Always handle your coins carefully and only at the edges.
Now which one should you try first? If you are just beginning to learn how to invest in gold, and you do not have a big capital to invest with, then it is highly suggested to start with gold coins first because it is the least expensive way of acquiring gold in small amounts. For large volume buyers, gold bars of 10 or even 100 ounces can give the most bang for the buck because they are very close to the spot price.
But which is the best one to invest in? As mentioned, Gold Eagles are less pure, and in fact one of the least pure, compared to Gold Maple. This means that a Gold Maple has a higher gold value than that of a Gold Eagle. However, maples are also at risk of being scratched.
Another factor to keep in mind is the mintage amount and year. The rarity of a coin can increase its value, so an Eagle with 0.900 percent pure gold from a low mintage year can have better returns than other precious metal coins.