Wednesday, May 23, 2018

Is the Art of Gold Coin Collection Still Alive in Australia?

Yes – the art of collecting gold, and even silver coins, is still practised in not just Australia, but across the globe. Why? This is so because silver, gold and other precious metals are a safe haven for your investments. They are the best means to diversify your portfolio and ward off risks. Generally, gold responds differently to various market conditions and usually, the value doesn’t drop, which makes it the perfect choice if you’re considering a nearly risk-free investment.

A bit of history

Gold has always been treated as precious since the old days. The metal first took the shape of a coin during the 643 to 630 BC era when the Lydians started producing them for the very first time. In those days, the coins were in a crude form made from a pale yellowish mixture containing gold and silver, referred to as electrum. Their composition was similar to alluvial deposits found in the beds of River Pactolus which ran through the capital city, Sardis.
In 560 BC, the Lydians learned to separate gold and silver, and started producing coins from both metals.  Later on, the Celts began to inscribe coins when they lived in Britain.
Through the centuries, gold evolved and was often used for trade until paper currency was invented.

Australian Gold Coins

Gold coins are a popular form of investment in our country. Offered in various weights, sizes and purities, gold coins are produced by different mints and come in various designs. Some coins feature a design of notable historical events, whereas other focus on the wildlife or landscapes. Many Australian gold coins are inscribed with designs depicting native species of our country.
Most of Australian gold coins are made by Perth Mint, the largest metal enterprise which distributes their products across the globe. The total exports are worth $18 billion including both coins and bars.

Popular Gold Coins

Gold Stackers has reported that the most popular gold coins from a collector’s point of view are the Australian Gold Kangaroo and the Australia Gold Rooster coins. The Australian Gold Kangaroo coin is a favourite known for its quality and craftsmanship. Produced by Perth Mint, the design of this coin is changed annually so as to offer greater choice and diversity to collectors. A 1-ounce Australian Gold coin features a kangaroo on one side and Queen Elizabeth II portrait on the other side. The coin contains 999.9% fine gold and has a face value of $100.
The Austria Rooster coins also depict a Queen Elizabeth II portrait and a rooster. Offered weights range from 1/20th ounce to 10 ounces.

Tips for collecting gold coins

Here are some quick tips for buying and collecting gold coins.
·       Gold coins are sold by many dealers. Compare prices but prioritise creditability and reputation of the dealer over rates.
·       Try to buy 1 ounce coins. Higher premiums may be associated with other denominations.
·       If you invest in rare coins, verify the authenticity through professional grading services and obtain a certificate.

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