Gold is one of the most valuable substances in the world. Countries all over the world used gold coins as their highest form of currency for centuries. Today, gold coins have fallen out of favor due to the convenience of paper bills. However, gold still has value in the international market, and is traded in the form of bullion, rounds, and coins. Gold coins are “kings” in the gold market, as they are by far the most valuable. However, gold coin values can be difficult to decipher for people with little background in gold. That’s why today we’re going to talk about gold coin values, and whether you are sitting on top of an enormous fortune.
Like most forms of money, gold coins are made to exchanged. However, unlike other forms of money, a single gold coin can grow exponentially more valuable depending on its rarity. This means that, after changing hands several times, a gold coin can wind up in the hands of a fellow who has no understanding of the its true value. This is why many of the people who inherit gold coins never realize that the few ounces of gold they keep in their attic are actually the most valuable items in their home.
Gold coin values are determined by many factors, but the most important ones are the purity (or how much gold is in the coin) of the coins and the rarity of that particular set. These factors are both difficult to distinguish for the layman, but are far easier for those that professionally sell gold coins. Following that, here are a few tips to determine whether your coin is a true treasure. Firstly, one should look for anything resembling a year. No matter the origin of the coin, almost all of them have the year of their issue printed somewhere on the coin. Generally speaking, the older coins are almost always rarer.
For example, last year a California couple turned in hundreds of gold coins in they had found buried in their backyard. The coins were worth a total of $11 million dollars, with one coin (a rare “Double Eagle) selling for $15,000 by itself. While this is extremely unusual, the gold market is filled with stories of hidden treasures and sudden influxes of cash. The second thing to do would be to look up any images on the coin, to see if you can find the coins origin. The best way to find out your coins’ value, however, is to talk to an expert. If you think you want to sell gold coins, contact us, and we’ll appraise your coins for you.