The Best Types of Gold To Buy
Table Of Contents:
Table Of Contents:
If you’re looking for the best type of gold to buy, you may find yourself overwhelmed at times. What form of physical gold bullion is the best way to invest? Gold bars? Gold rounds? Gold coins? Decisions, decisions…
Don't worry, we're here to answer all of your questions about the yellow metal. The best gold products for each investor or collector is a matter determined by their individual financial goals.
We will break down [gold products by category](/buy-gold) and examine some of the options available for each. This will help you narrow your focus on certain types of gold products, giving you a good idea of what to look for when shopping at your coin or bullion dealer.
##Gold Bars##
When many people think of Fort Knox, the image of [gold bars](/category/489/gold-bars) comes to mind. Why is so much of the gold there stocked in the form of bars? One reason is that it’s one of the most space-efficient ways to store gold. Bars fit neatly in small spaces like a safety deposit box or other secure location like a vault.
It’s also among the least expensive forms of gold. Dollar for dollar, gram for gram, gold bullion bars have lower premiums over [gold's spot price](/charts/gold-spot-price). Research from the [World Gold Council](https://www.gold.org/) and [London Bullion Market Association (LBMA)](https://www.lbma.org.uk/) shows that gold bars remain one of the most important financial assets.
There are more options in sizes with gold bars than one may find in other forms of physical gold. While you can easily find 1 gram PAMP Suisse or Sunshine Minting gold bars, you’ll be hard-pressed to find a gold round or gold coin that small. The same goes for gold coins and gold rounds on the higher side of the size spectrum. Good luck tracking down a 1 kilo gold coin or gold round!
Here’s a look at some of the gold bar options available:
* Different sizes: gold ingots (another term for gold bars) are sold in sizes from 1 gram to 1 kg. Popular weights include 1 oz., 10 grams, and 10 oz. options.
* Reputable brands: Leading names on the market include the Royal Canadian Mint, Royal Mint (U.K.), Perth Mint, PAMP Suisse, and Sunshine Minting.
* Plain or art bar? Gold bars are available with minimal inscriptions (such as a measurement of weight, the manufacturer's name, and brand hallmark) or with decorative designs.
As with so many things, it’s cheaper to buy in bulk. Those investing in a lot of gold will usually find it cheaper to buy fewer large-sized bars than the equivalent total weight in small-sized bars. Even so, small bars generally cost less to purchase individually than the same amount of gold in the form of rounds or government-issued coins.
Modern gold bars adhere to a .9999 fine gold standard of purity. Vintage gold bars may have been made to a .999 fine standard. Both types are 24K gold. The .9999 pure gold versions have been refined an extra time to get that extra bit of purity.
Here’s a look at some of the gold round options available on the marketplace:
* A multitude of sizes, including 1/10 oz., 1/4 oz., 1/2 oz., and 1 oz. rounds, with some as small as 1/20-oz. and others weighing 2 oz., 5 oz., or more.
* Designs range from simple weight and hallmark inscriptions, to those with elaborate artwork and inscriptions incorporating themes of virtually every kind.
* Rounds (medals) from various well-known names, including the United States Mint, Royal Canadian Mint, Perth Mint, PAMP Suisse, Sunshine Minting, and many others.
As the array of gold rounds is broad and diverse, it’s best to check with your favorite gold dealer (whether a local dealer or online vendor) to see what they currently have in stock before making any investment decisions.
When looking at gold coins, you may wonder why they cost more than bars. All legal tender coins incur an extra charge from the government called "seigniorage." This charge on modern gold coins is in addition to the costs to mint the coin. This is why a gold medal or round by a private mint is nearly always cheaper than a gold coin.
On the flip side, the legal tender status of gold bullion coins make them a highly liquid asset, even when compared to gold bars or rounds. The same applies to silver coins.
Sometimes, the price of a gold coin also includes a numismatic premium that is influenced by a coin’s rarity or popularity in the marketplace. This is especially true of proof, collectible, or limited edition gold coins.
Here’s a glance at some of the options investors have with gold coins:
* Popular [vintage gold coins](/category/929/pre-1933-gold) include Saint-Gaudens $20 and other pre-1933 U.S. gold, British Sovereigns, and French Roosters.
* [Modern gold bullion coins](/category/280/gold-bullion-coins-new-release) include the American Gold Eagle, Canadian Maple Leaf, South African Krugerrand, and Chinese Panda.
* Commemorative coins, proof coins, and design series coins*. Popular subjects are Lunar New Year gold coins, and "one-off" gold coins commemorating a person or event.
*Proof and other numismatic gold coins have costs over and above their bullion counterparts. They should be purchased for their collectible value, rather than just for their gold content or monetary value.
Virtually every major industrialized nation past and present has produced gold coinage at some point. This is partly because gold has maintained its purchasing power over thousands of years. This ensures that both collectors and investors have numerous options for their portfolios.
Many of these coins (and gold bars from accredited refiners) can be held in a self-directed precious metals IRA. The tax-deferred status of [gold IRAs](/ira) make them an attractive option for investors looking to save for retirement.
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Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild. He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage.
More precious metals buying guides from Gainesville Coins, one of the largest precious metals dealers in North America:
[Investing in Gold: What You Need to Know](/blog/gold-investment-guide)
[Top 10 Most Popular Gold Coins](/blog/top-10-most-popular-gold-coins)
[The 3 Best Ways to Buy Gold](/blog/best-ways-to-buy-gold)
[How to Buy Gold Bars: Buyer's Guide](/blog/how-to-buy-gold-bars)
[Buying Gold With Bitcoin: A Simple Explanation](/blog/buying-gold-with-bitcoin)
[Live Spot Prices for Precious Metals](/charts/)

Gold bars stacked up in the vaults of the New York Federal Reserve Bank
Bottom Line:
Investment-quality gold bars almost always have the lowest premium over gold's spot price.

Gold medals from the 1952 Olympics
Bottom Line:
Gold rounds are similar to bars and offer a variety of sizes and designs.

The shape of gold coins makes them stack neatly.
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Gold American Eagles are the most popular gold bullion coins, always in high demand.
Bottom Line:
Gold coins are trusted for their government-issued status as legal tender.
Posted In: blog
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