6 Things to Keep in Mind While Buying Gold Coins 

Gold coins are the best way to invest your money and get a good rate of interest. The an 8-gram gold coin rate today can multiply two or more times tomorrow. For this reason, it is important to invest in gold coins. Gold coins come in different denominations, ranging from 1, 2, 5, 8, 10, 20, 50, and 100 grams, that determine their price. Keep the following 6 things in mind while purchasing gold coins to ensure that you receive valuable and high-quality items:

1. Purity

The purity of gold is the first and foremost factor to take into consideration. Today, you can determine the purity and rate of an 8-gram gold coin from its karat and fineness. A 24 karat gold coin is considered to be in its purest form as it contains 24/24 parts gold, but a 22 karat gold coin contains 22/24 parts gold and the rest is composed of other metals like silver or zinc. On the other hand, fineness is determined by the weight of gold in relation to the total weight of the gold coin including the impurities.

2. Hallmark

To determine whether the gold coin is authentic or not, a hallmark is essential. A hallmark is a certification of purity and fineness of the gold and is created in accordance with standards set by the BIS Hallmarking Centre. If a gold coin is not hallmarked, you will have to make a lot of efforts into proving its authenticity in the long run.

3. Making Charges

The making charges of gold coins are rather less than that of gold jewellery, as the design is less intricate. Another advantage of gold coins is that you can buy pure gold in the form of a coin with a weight as low as 1 gram. Thus, it is an affordable purchase that can give you a lot of benefits in the future.

4. Packaging

Tampering of packaging is one of the biggest concerns anyone has while buying gold coins. It is very important that your gold coins come in tamper-proof packaging. Even while reselling the gold coins, one must not scratch or remove the packaging as it may cause damage to the purity of the gold.

5. Weight

The weight of the gold coin is directly proportional to its rate; the higher the weight, the better the price. The market range for the weight of gold coins is typically between 0.5 to 50 grams. You can determine the price of gold coins by multiplying its weight to the gold rate on that particular day.

6. Bill

While buying gold coins, it is very important to ask for a proper bill. Important details like karat, weight, the current price of gold, and the making costs should be included in the bill. A proper bill guarantees the authenticity of your gold coin and makes the reselling process easier.

Now that you know these important factors, you are equipped to buy gold in the future. These factors also ensure that you will be able to resell your gold items without any issues.