Gold has been a symbol of wealth, luxury and power for thousands of years. People have been drawn to gold bullion for centuries, and still are to this day, because investing in gold is a reliable way to diversify and protect your wealth. Gold is known as a safe asset. When the stock market is down or the economy is in trouble, gold’s value usually remains stable or even goes up.
Today’s economic climate is marked by uncertainty due to a range of factors, including inflation, fluctuating interest rates, geopolitical tensions and more. Gold, associated with reliable returns and historical stability, is now looking more appealing than ever to investors. In fact, the price of gold just hit another record high this week ($2,584 per troy ounce on Monday 9/16)! From coins to bars and even fine jewelry, there are plenty of ways to invest in gold. But do certain types of bullion make for better investments than others? Here’s a quick rundown on the best gold bullion to buy and why.
Most Popular Gold Coins
Many of the world’s most popular gold coins can be bought at 1 oz, 1/2 oz, 1/4 oz and 1/10 oz weights. Here are our top three favorite gold coins (all of which you can purchase from Garfield Refining)!
The American Gold Eagle coin is a classic choice – it’s one of the most popular and widely recognized gold coins available. Produced by the United States Mint, American Gold Eagles are made of 22k gold and feature a design of Lady Liberty on the obverse (heads) side and a bald eagle on the reverse (tails) side. Each coin is guaranteed by the U.S. government for its gold content, weight, and purity, which gives investors and collectors confidence in the coin’s authenticity.
Also produced by the U.S. Mint, the American Gold Buffalo coin is favored by many investors and collectors. The coin is modeled after the famous 1913 Buffalo Nickel and features a Native American chief’s profile on the obverse side with an American buffalo on the reverse. American Gold Buffalos are made of pure 24-karat gold, so they should always be handled with care. Even just dropping a coin on the ground could dent it!
The Canadian Gold Maple Leaf is one of the oldest and most trusted gold bullion coins in the world. This 24-karat coin is produced by the Royal Canadian Mint. First minted in 1979, Gold Maples remain among the world’s purest and most popular gold bullion coins. The design features a maple leaf on the obverse side and Queen Elizabeth II’s image on the reverse.
Best Gold Bullion Bars to Buy
There are two main types of gold bars: cast bars and minted ingots. Cast bars are created by pouring molten gold into molds, resulting in a more rugged appearance, making each bar unique.
To create minted ingots, a large and flat piece of gold is cut into bars which are then stamped with various designs and information. These bars are sleek and polished, usually packaged in protective casing. Minted ingots are a great option for those looking to buy 24k gold bullion, as most are made of pure gold. Popular options include PAMP Suisse Gold Bars, Valcambi Gold Bars, Australian Kangaroo Gold Bars, Swiss Gold Bars and more.
When choosing the best gold bars to buy, weight is a crucial factor to consider. Some investors prefer small bars, typically those weighing less than one ounce. Small gold bars are easy to transport, highly liquid and often more readily available for purchase. All in all, they make for an easier way to invest in gold. On the other hand, small bars do often come with higher premiums!
One-ounce bars offer a happy medium in terms of weight. They still boast strong retail demand and liquidity, and you may pay lower premiums compared to smaller gold bars and coins. Garfield stocks a variety of 1-oz gold bars, and you can reach out anytime to see what’s currently available!
Larger gold bars, weighing more than one ounce and up to a whopping 400-oz, can become more difficult to store and transport. Although they offer the lowest premiums, larger gold bars are more of a liability due to each one having such a high value. Many owners of larger bars keep them in storage vaults that charge a monthly fee.
Best Silver Bullion to Buy
While gold remains the most popular precious metal among investors, alternatives such as silver, platinum, and palladium also offer valuable opportunities for collectors. When it comes to investing in silver, there are two major options: generic rounds or bars and sovereign coins. Each have their pros and cons, and the best choice for investors will vary by individual preference.
Generic Silver Bullion
If you’re looking to invest in silver for its intrinsic metal value and want the most bang for your buck by weight, generic rounds or bars may be the way to go. Generic silver bullion items have lower premiums, making it easier to purchase more metal. Generic silver bars are available in a wide range of sizes, from 1-oz to 100-oz and up. All in all, generic bars and coins are the most cost-effective option – they offer the highest amount of silver at the lowest cost.
Sovereign Coins
Sovereign coins, which often come in a one-ounce size, have their upsides too. They’re backed by the authority of the nation that minted them and therefore less likely to be counterfeit. Sovereign coins also boast the advantage of having numismatic value (worth based on rarity or collector demand). And last but not least, sovereign coins considered legal tender – unlike generic rounds. So if the spot price of silver were to hypothetically fall to $0, your sovereign coins would still hold value as currency.
Most Popular Silver Coins
Among the most popular silver coins to invest in are the American Silver Eagle, Canadian Maple Leaf, Australian Kangaroo and British Silver Britannia. Silver Eagles are favored by many for their reliability and wide recognition in the global market. Produced by the U.S. Mint since 1986, this coin is a staple for any collector of precious metals.
The Canadian Maple Leaf is one of the purest coins on the market, boasting .9999 fine silver content. This is also one of the most secure bullion coins in the world, thanks to advanced anti-counterfeiting features like micro-engraved radial lines, a micro-engraved laser mark, and a special Bullion DNA technology. Bullion DNA allows registered dealers to scan the coin using a specialized device that verifies the micro-engraved security mark by matching it against the Royal Canadian Mint’s secure database.
The Australian Kangaroo is fun to collect because the design changes annually! Each year the coin features a unique variation of Australia’s favorite marsupial. Minted by the Perth Mint, the Kangaroo has legal tender status in Australia.
Last but not least, the Silver Britannia’s iconic design features Queen Elizabeth II on the front, and a standing figure holding a trident and shield on the back, representing Britain’s maritime heritage. The Royal Mint’s commitment to excellence in quality and security adds to the coin’s appeal.
Where to Buy Gold Bullion
With countless online bullion sellers and the convenience of transactions just a few clicks away, buying gold bullion is easier than ever, regardless of your location. However, the abundance of options makes finding a reputable and trusted bullion dealer more crucial. When selecting a bullion provider, ensure that the company’s reliability is confirmed by a substantial number of positive customer reviews. Your bullion dealer should also have a transparent and fair buyback policy that will allow you to sell your bullion back if necessary.
With over a century of experience in selling bullion, Garfield Refining has helped hundreds of thousands of satisfied customers expand their precious metal portfolios. Whether you’re a seasoned collector or new to gold investing, we’ve got you covered with a diverse selection of gold and silver bullion in various weights and sizes. Investing in precious metals is always a wise choice, and we’re here to help you every step of the way!
Looking to refine your precious metal scrap or buy bullion? Download a free shipping label or browse our bullion selection today!