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Gold Coins have Become a Precious Commodity

gold coinsThe very old forms of currency were gold coins, followed by the production of lesser quality coins made of silver.  The use of gold coins in the United States started in 1838.  When the Great Depression started in 1933, gold coins were surrendered to the government at a price and put in the treasury.  The recall order made gold coins a rare and precious commodity nowadays.  But would you believe some people have an expensive hobby of gold coin-collecting?  It has become a unique way of investment proposal to increase and diversify one’s portfolio. With investment, we mean bullion coins and not numismatic coins that only get its value from its rarity, age, design or craftsmanship.  It does not really take the content of gold as a real way to assess the value. In short, numismatic coins do not have a real value unlike bullion coins that have stored or preserved value both in financial crisis and stability.     Those who have extra money buy gold bullion in 22-24 karat grade. Yes, like stocks and bonds, gold- buying is considered a worthwhile endeavor.  But of course, you have to establish the authenticity of the gold coins before buying them.

The circulation of gold coins could have been a very good way to do business in the sense that gold coins cannot be counterfeited, unlike paper money. Although gold coins are no longer seen circulating in the society as a normal way to pay for goods and services, people have not given up collecting them.  They seek for gold as an investment or in jewelries and aesthetic forms.  Those who hold on to gold in speculation of getting a better future price retain gold in the physical form of gold bullions, gold coins or even gold bars.  In view of the global economic downtrend, some people cling to gold like they cling to an insurance coverage.

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