The price of a gold coin depends on many factors, including the current price of gold, the purity of gold in the coin, and the coin’s grading.
As a result, there are a wide variety of coins and a wide range of prices. Depending on these factors, the price of a gold coin could range from costing several thousand dollars to costing a huge fortune. So, what are the common coin types?
What Are the Common Coin Types?
The best coins to buy depend on the investor’s goals and preferences. Some will choose gold coins minted by specific countries, while others prefer high gold content. Ultimately, the best gold coin is subjective. However, these are some of the most common types of gold coins across the globe:
Buffalo Gold Coins were designed by sculptor James Earle Fraser in 2006. It is the first one-ounce coin to contain .9999 fine gold in the U.S. Mint. The current average price is $1,980.80 for a one-ounce coin.
The Maple Leaf Gold Coin is produced by the Royal Canadian Mint and honored by the Canadian government. This coin is well-known among investors and collectors for its precision and attention to detail. The average Maple Leaf gold coin’s price is $2,072.30.
Philharmonic Gold Coin is made by the Austrian Mint. The coin is a tribute to an orchestra in Vienna and features the Great Organ of the Golden Hall. The price is $1,964.60 for a one-ounce coin.
Libertad Gold Coins are produced by the Mexican Mint. These bullion coins are very well-known for how beautiful they are. The price for this coin averages $2,430.49.
Britannia Gold Coins were produced by the British Royal Mint and included a depiction of Queen Elizabeth II. Their average price is $1,991.
Panda Gold Coins are being produced by the Central Mint of China. These coins are known for their high purity and iconic design. They average $2,105.43 per one-ounce coin.
Kangaroo Gold Coins are Australian legal tenders produced by the Perth Mint. Their reverse design is changed annually. The average is $1,976.60 per one-ounce coin.
The Gold Sovereign Coin is a British coin that still has a great price in the current market, considering it has been produced by The British Royal Mint since 1817. These coins are sold for about $486.70 per eight-gram coin, equivalent to one-quarter of an ounce.
Krugerrand Gold Coin is minted in South Africa. This was the first modern gold coin introduced to the market in 1967. The current average price for this coin is $2,023.70 per ounce.
Ducat Gold Coin was a widely used coin and lasted as one of the leading commerce coins from the medieval period until the 20th century. Unfortunately, the coin includes more metals than just gold. The price is about $152.53 for a three-and-a-half-gram coin.
Francs Gold Coins were used before euros in France, Luxemburg, and Belgium. Monnaie de Paris minted these gold coins for circulation until 2002 when the euro was introduced. These coins have a very high precious metal value, containing 90% pure gold, which also increases this coin’s price. They cost about $256.30 for a six-gram coin.
What Is Coin Grading?
Coin grading analyzes the coin’s physical condition, look, wear, and flaws. After a professional analysis, the gold coin is assigned a rating from one to 70, where 70 is a perfect coin with absolutely no wear or flaws. Each number has one or two letters corresponding to it that stand for the short description of the coin grade. For example, the “P” next to the grade one coin stands for “poor.”
A coin’s grade can tell you if it is a good investment. Consult the table below to see the meaning behind different grades.
Coin Grading Chart
Grade
Condition
P-1
Poor Only identifiable by the mint mark and date
FR-2
Fair Also very worn, but not as badly as the previous grade
AG-3
About Good Can see the type and date, even though some areas are worn
G-4
Good Coin is significantly worn, but major features are visible
G-6
Good Plus Heavy wear, but all features are outlined
VG-8
Very Good Worn, but all major design elements are evident
F-12
Fine Moderately worn, but the rim features and details remain
VF-20
Very Fine Mid-level wear, but legends and legible
VF-30
Good Very Fine Light wear on details and high points, but legends are clear and legible
EF-40
Extremely Fine Light wear, but details are clear
XF-45
Choice Extremely Fine Light wear on some points, but has good appeal with all legends and details are legible and visible
AU-50
About Uncirculated Little wear on details and little luster remains
AU-55
Good About Uncirculated Shows some wear and some luster remains
AU-58
Choice About Uncirculated Great eye appeal, very slightly worn, looks uncirculated
MS-60
Mint State Basal Uncirculated, but doesn’t have great eye appeal compared to other uncirculated coins
MS-70
Mint State Perfect Perfect coin, excellent eye appeal, no flaws
Coin Sizes
Gold coins vary not only in type and grading but also in their size. For example, the American Eagle gold coin comes in four sizes. The sizes are one ounce, half an ounce, a quarter ounce, and a tenth ounce. As a result, valuing gold coins depends on the size just as much as it does on the grade and type.
Investing in Gold
There are various gold investment options, such as bars, IRAs, and gold coins. Each type of investment has its benefits, and all of them are considered stable and inflation-resistant investments. Gold coins are irreplaceable as a long-time investment. They have the same stability and inflation resistance as regular gold. In addition to that, their price scales by age and state. Old gold coins in perfect condition are sold for millions of dollars. For example, a very rare gold “Double Eagle” coin from 1933 with a face value of $20 was sold at auction for an astonishing $18.9 million. Some of the rare coins that aren’t as expensive nowadays could cost even more in the future due to the collector’s and gold price changes.
Conclusion
So, how much is a gold coin worth? The price of any gold coin is determined by its size, age, state, rarity, and purity. A standard gold coin costs around $2,000, while rare coins are sold for millions. But is it worth investing in gold coins? Gold coins have proven to be a very stable investment because they are less volatile than the stock market. Moreover, there is also a chance for a gold coin to drastically increase in price over the long term. Therefore, investing in gold coins might be a good option for an investor to consider.
James Miller is a Senior Content Writer at McGruff.com. He has a background in investing and has spent most of his career in the financial industry. He can trace his family tree back to the California Gold Rush when his ancestors risked it all to make it big in the west. He feels like he's following in their footsteps as he strives to make sense of today's gold market.
