You can purchase 1 gram gold coin from coin dealers in NYC that are procured from all the top mints and refineries of the world for investment and numismatic interests. As straightforward as buying gold can be, it is also about timing, purchasing from the right sources and making an informed purchase of the right kind of gold. It is obviously a wise idea to go to a reputed gold dealer so that you get authentic coins at the right value.
Yet, you shouldn’t rely entirely on coin dealers’ reputation but do your own research and get a fair idea of market prices and different types of gold coins you can purchase. If you are buying with investment intent, then your outlook and approach towards evaluating your purchase will be different. A 1 gram gold coin value for a numismatist will likely be more as they are paying a premium for the year and mint of the gold and not just its face value. We look at 5 things you must know before visiting coin dealers to purchase 1 gram gold coin.
1 gram gold coin value not only depends on the value of gold but also includes making charges and delivery charges. Thus, gold bullion coins trade at a small premium over actual gold spot prices which includes the sovereign government or refineries fabrication fee. The spot god price is based on 100 ounces or larger .999 fine gold bars and gold bullion coins ranging from 1 gram to one troy ounce trade at 3 to 15 percent premium over spot price. The premium price will vary based on the coin size (that is 1/10, ¼, ½ or 1 ounce) and the quantity purchased Large gold bullion dealers typically sell single 1 troy ounce American Eagle gold coin at around 4% to 5% over the current spot price.
Bullion vs. collector’s gold coin
Bullion coin value fluctuates as per the current gold price whereas the collector’s gold coin, which are “rare coins” carry a significant value as a collector’s premium based on its historic supply and current market demand.
There are few coin dealers in NYC who deal in rare coins in circulated condition for a modest premium over their bullion content. If the coins are in perfect condition, then they attract a higher value. Numismatic premium can exceed melt value by thousands of dollars. It is a highly regulated market with accurately graded, high quality rare coins. However, to understand the valuation of a numismatic coin requires a practised eye and study of its history.
If you are making a modest investment in gold, then you always buy 1 gram gold coin of reputed mint like Krugerrand of South Africa, Australian Gold Kangaroo, Canadian Maple Leaf or Austrian Philharmonic. The reputed mints that have international recognition are Credit Suisse, Pamp Suisse, or US Mint.
The larger coin dealers in NYC are now offering home delivery for coins purchased online on their websites. Normally, the purchased coins are shipped within 10 to 14 days, however, if there are mint delivery problems then there may be delays. Generally, the coins come in discreet packaging so that nobody would know the contents of the package for security and privacy reasons. 1 gram gold coin value is protected by a tamper-proof assay package that is generally added by the mint. Yet, it is important to store the gold coin in a secure deposit that is cool and dry to protect the package and coin.
Before you make your purchase browse what is being offered in the market and make a smart purchase decision as gold is a long term investment.