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Should I buy Gold Coins or Bars? 22 Karat or 24 Karat?
Quite often our customers, new and established, are asking us, “What should I buy?” With so many products on the market, it's easy to understand where this question comes from. Nearly any day, just looking in our gold case, you can see various sizes of American Gold Eagles, Canadian Maple Leaf coins, South African Krugerrands, Chinese Pandas, and bars. As if having so many different sizes from so many different places wasn't a difficult enough decision, a lot of our customers are often perplexed deciding between 22 karat vs 24 karat as well! So, we thought we would write a little post offering our opinions and hopefully answering a few of your questions. Gold Eagles and Krugerrands are the 22 karat coins while the Maple Leaf coins, Pandas, and bars are the 24 karat items; however, there is no difference in the amount of gold in each of these items. Yes, you read that right. In a 1oz Gold Eagle and a 1oz Gold Maple Leaf there is exactly 1oz of pure gold in each coin. The Gold Eagle contains 1oz of pure gold,as well as small amounts of silver and copper. The Krugerrand contains 1oz of pure gold, as well as a small amount of copper. This is why the 22 karat coins weigh more than 1 troy ounce (33.9 grams) vs 1 troy ounce pure coins or bars (31.1 grams). Now comes the question of which one of those to buy. In all honesty, it's 100% personal preference. Each person likes something different for different reasons. Ask each of us in the shop which 1oz gold product we like, and you will get a different answer from everyone. For example, Rodney likes the American Gold Eagle, as he feels purchasing that coin supports America. Brandon is a fan of the Gold Bar, as it has the lowest premium over spot. Travis likes the Philharmonic because it is a 24 karat coin that doesn't scratch as easily as some of the other 24 karat products. And, Kevin likes the Krugerrand because it doesn’t scratch easily, and it also carries a low premium over spot. Unfortunately, there is no definitive answer of which product you should by. Some days our opinions will change when we post specials that cannot be beat, but ultimately the product you buy will really depend on which item you like. We are more than happy to give our input and show you any products we have on special at any given time; however, there is no right or wrong decision.
Tags: What gold to buy, Gold Eagles, Gold Krugerrands, Gold Maple Leaf, Chinese Panda, Gold Bar, 22 Karat vs 24 Karat
Posted: 10 Aug 2016