Gold Coins Bars, Then and Now

You have likely seen them countless times in pirate movies and TV shows. They shine and shimmer, and just looking at them makes one feel rich — or want to be.

Unlike the coins and bars of old, today’s gold coins and bars are classified as gold bullion, or gold bought in bulk form. They can be easily converted to cash anywhere in the world.

Bullion Gold Coins

Bullion gold coins are most valuable when their collector’s values are high. Uncirculated and proof versions are the most prized, since they are limited in number. The term “proof” comes from the purpose the coins serve: by being the first stamped, they verify the quality and precision of the coin dies meant to be used in minting coins for public use.

Among the most famous gold coins are the South African Krugerrand, Canadian Maple Leaf, Australian Nugget, Austrian Philharmonic, Britannia, and American Gold Eagle. It is called a sovereign because of the impressive size and depth of detail, and it shows a monarch on the front and the Royal coat of arms on the reverse.

Coins Over Bars

Bullion gold coins have numismatic value — that is, they are valued by coin collectors. Where a troy ounce of gold in ingot or bar form is worth a certain amount, the coins are worth their weight in gold plus minting fees plus collector’s premiums. Additionally, the value printed on the coin is no indication of its price. For example, on the 1-ounce American Gold Eagle, the value “Fifty Dollars” is stamped, but the coin is worth around 950 US dollars; a full nine times the face value, and almost ten percent more than the price of a gold bar of the same weight. Truly, these are worth more than their weight in gold!