SIGNIFICANCE AND CATEGORIES OF GOLD COINS:
Gold is a precious metal, an unparalleled asset, a definite profitable and refundable investment which is always high in demand. Therefore its purity is the chief concern for everyone. Though it is a 50 gm gold bar or a 50 gm gold coin, its quality is readily observed as directly proportional to its demand. Gold coins are the amalgamation of different metals hence their purity reserve in amount of content and therefore 24K is measured as the finest value. Today, various weighing gold components such as 999 purity 50gm gold or 999 purity 50gm gold coins are being sold and utilized in many parts of the world e.g. India.
TYPES OF GOLD COINS:
The Bullion gold coins were produced as a result of the transition that has demolished the era of Gold Standard because many countries were bereaved of owning gold as private asset. Since then, Rand Refinery, world’s largest refiners of gold initiated Bullion gold coins so as to meet demands and also for general consumption. There are various types of gold coins in the form of bullion gold coins.
The first type is American eagle gold coin which is an alloy of copper and silver. As mixed with the hardest metals, it is secured from deformation. Eagle gold coin is considered as one of the famous serve since it was introduced back in 1986. It has 22K purity which is equal to 93.1% gold out of rest. Eagle gold coin can only be minted on American soil as enforced by the law.
China is among the largest gold producers in the world. The vintage of bullion gold coin in China began 1982 and a 24K gold Panda was introduced by CGCI (China gold coin incorporation) in four different sizes. Later they stretched out more sizes and also 50gm gold coin 999 purity. The coin has carved out an image of Temple of heaven at one side.
The Canadian launched their first Gold mint 1979 in the form of Maple leaf gold coin. It was the first bullion coin of 24K gold at 99.9% purity of that time. The fineness and purity of gold was supplemented with time and reached up to 99.99% and 99.999% till 20th century. The gold utilized is extracted from beneath the crust of Canadian land. The Maple Leaf is accredited as the most admired gold coin in the world and a large number of 50gm purity gold coins and more in different sizes 1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz and 1 oz are been circulated and cherished.
South Africa had accumulated nearly 62% gold of the world in 1970. They were considered as the decision makers and dictators in Gold market. They produced the first ever bullion coin in 1970s measured today’s 1 ounce unit. At present, South Africa has lost ample prominence in Gold comparatively yet they have Krugerrand gold coin of 22K in different sizes that acquire major importance due to its rich history.
Gold has a profound eminence in our society. It is a back up to your capital and your portfolio diversifies. Whether you own a 50gm gold 999 purity or a 10K gold with 417 (less than fine) its accumulation is worth till existed.