Hobbies And Interests
Gold Coins
Gold coins have been minted for more than 2,000 years. Until the early 20th century they circulated as money, but in more recent years their value as metal has far outstripped their face value as money. Gold coins are now kept in coin collections or as bullion---caches of metal which are horded because the metal is so valuable.
Gold Coin Varieties
Over the years, gold coins have been issued in various-sized disks featuring many different designs. Their weight also varies greatly, from diminutive 0.1 troy oz. specimens to more sizable disks weighing more than 1 troy oz. Newer bullion coin issues---such as the 1 oz. American Eagle made since 1986---are valuable only for their metal content. Conversely, older gold coins in good condition are often bought and sold among coin collectors for much more than their metal content is worth.
Gold Bars
After miners take gold ore from the earth, it is processed to remove impurities. The end product of the processing are gold bars of various weights, some as much as 100 troy oz. Private gold production companies create these bars either for industrial use or to sell as bullion.
Gold Hallmarks
Genuine gold bars are stamped during processing with the following information: exact weight in troy oz.; purity (up to .9999, meaning 99.99 percent pure); the manufacturer's hallmark; and sometimes a serial number. A hallmark is a logo used by the manufacturer to assert that the weight and purity as stated are correct.
Value
Except for gold coins valued by coin collectors, gold coins and gold bars are similar in that their value is determined by how much of the metal they contain. Gold is a commodity traded around the world at all times, and its price (which is set by the markets) is instantly available.