Five Ways to Determine the Worth of a Gold Coin
Whether you’re an investor, collector or pirate, if you own a gold coin or wish to one day own a gold coin, it’s best to understand how to determine the coin’s value.
Royal Bull Silver & Gold offers you these five primary ways to help determine the value of your gold bullion.
The Value is in the Weight of the Gold Coin
As you can imagine, much of the value of a gold coin is purely in its weight. Fortunately, this is relatively easy to determine, if the coin is pure gold. Simply head over to our Precious Metals Prices chart here, and you will see the price of a troy ounce of gold in Canadian dollars.
The price of a gold coin to purchase is often slightly higher than the spot prices on the world’s gold charts since the gold coins available for sale include retail costs as well.
Some gold coins are incredibly old or rare, but in most cases, the weight of a gold coin is the #1 determinant of its value.
Determine the Age of Your Gold Coin
Look on the coin for a mint year or do some research to determine when the gold coin would have been produced. Coins from centuries ago will command higher prices than gold coins of the exact same weight produced today. This is because older coins have an inherent history in them, delivering far more value than can be found in the coin and instead in the history of the country and minted in a certain time period.
Consider the Gold Coin’s Condition
Many gold coins are professionally graded to ensure that experts in the field have a close look at the gold coin. The coin is then sealed and given a grade that allows others to know its condition. The larger the grading number, the better condition, up to 70. Even a small scratch, off-centre design or slightly imperfect stamp can lead to a lower grade.
Is the Design Anything Special?
Is it a beautiful design featuring something of great importance? Collectors and even investors appreciate unique designs or something that they can be proud to possess. For those who commemorate WWII, a gold coin honouring Remembrance Day may have a high value. For those who celebrate Queen Elizabeth II, a commemorative gold coin celebrating her life may be worth a premium price.
How Do You Determine a Gold Coin’s Value?
Although weight, age, condition and design all play into the value of a gold coin, everyone is different. Visit Royal Bull’s gold-coin shopping page to see the beautiful coins we have in stock today, which can be shipped across Canada in mere days. We look forward to working with you to add gold coin value to your investment portfolio today.