The Importance of Knowing Your Gold

Humankind has been fascinated with gold for centuries. The precious metal has always been a status symbol and part of some nation’s culture. Most of the world’s gold might go into the jewellery industry but a lot of significance that always been put on coinage. There is a lot that a person can tell about a nation’s economy by looking at the amount of gold bullion in reserve. Coinage has played a significant part in the economic past of most country’s past. Coins used as a currency have been evolving for years and left a trail of progress. By looking at the history of a country’s coinage, one can learn a lot about the skill and level of technological refinement that has been happening over a period of time. As gold coins became purer and their designs more complicated and precise, one can see the transition of refinement and technology that has happened over many years or different civilizations. Coins are more than just currency, they are also a means of communication. Different cultures communicate their ideologies and celebrate their religions using gold.

In the modern world, we now live in, countries show off their skill and expertise at creating gold bullion coins. Various mints work hard at designing and creating their flagship coins that become sought-after coins in the world. Whether you have gold bullion coins made by the US Mint, a Royal Canadian Maple leaf gold coin or a South African Krugerrand, you know that these are coins with a timeless popularity. These gold bullion coins are usually advertised and sold as investment pieces and their value is the same whether a seller decides to sell these to Gold Buyers Australiaor buyers located anywhere in the world.

The majority of civilians aren’t equipped with enough knowledge to know what the resale value of their gold bullion coins might be. Most people are concerned with the purity of the metal. Whilst this is important, other things elevate the value of gold bullion coins. There are only a handful of countries that produce gold bullion coins that have a universal appeal and a universal price. The first and most important thing you need to know when buying gold bullion coins is that it is only “bullion” if it has a fineness of .999 (with a few exceptions like the Krugerrand) and is produced and distributed by government mints. The most notable gold bullion coin-producing countries that produce their own trademarked bullion coins with legal tender are China, the United States, Australia, Austria, and the UK. Other countries like India produce gold coins with a .999 fineness but no legal tender

For instance,

Australia produces the Gold Nugget and Gold Kangaroo coins with a purity of 99.99%. The obverse has an etching of Queen Elizabeth II whilst the reverse has an etching of a Kangaroo. The coin carries legal tender. The coins are minted by the prestigious Perth Mint. In 2018, the mint only released 500 of these coins and a 1oz coin is priced at AUS $ 3,545.45. but the price may vary depending on demand.

South Africa on the other hand produces a bullion coin with a gold purity of 97.67% but has no legal tender. The Krugerrand is the most recognized gold coin in the world and at one point it had a 90% dominance over the market. Gold buyers Australia are most likely to offer a good price for gold bullion coins than other types of gold coins.

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