Hobbies And Interests
Gold Bars
Gold bars are either cast or minted. Cast gold bars are made with molten gold poured into a cast. Minted gold bars are made by stamping them out of a strip of previously cast gold. They are often referred to as gold bullion. All gold bars will have their weight and purity stamped on them. They come in a variety of sizes from fractions of an ounce to several kilos.
Gold Coins
Gold coins were made by government mints for use as money. They are stamped with a face value and were exchanged for that value at one time. Few countries have minted gold coins as legal tender since the gold standard was abandoned by the United States in the 1930s. Most genuine gold coins are more than 70 years old.
Gold Rounds
Modern gold rounds are often mistaken for gold coins but are considered gold bullion. A gold round has a design that makes it look like a coin, but it is not actually money. It has value for its gold content, but was never monetized by a government. Anyone can make a gold round and it is not considered counterfeiting.
Gold Content
All gold products, regardless of its form, is valued for its gold content. Most gold products are mixed with other metals to make it harder. Only the actual gold inside is valued. Twenty-four karat gold is pure gold;18 karat gold is 75 percent pure and 14 karat gold is 58.3 percent pure.
The Choice
Gold bars are favored by investors only interested in owning the precious metal. They are easy to store and are sold for a very small premium over the spot price of gold. Gold coins are favored by collectors who also prize their rarity, history and the artistic elements. They demand high premiums over the gold content value. Gold rounds are for those who want a little bit of both worlds.