What Are the Types of Foreign Gold Coins?

by Josh Biggs in Finance on 15th July 2022

Finding treasures hidden in old dresser drawers or in the attic is a great feeling. So is rooting through the jars of coins and even coming up with rare ones, which are worth it.

Striking them rich is a possibility for individuals who have built up a sizable collection of coins. Though you might still get some loose change, which is worth more than you would expect.

Most of the following types of gold coins you are likely to be hiding in your attic because they are very rare, and not all of them are expensive:

  1. Turkish Republic Gold Coins

This can be surprising for many individuals. Though Turkey has produced more gold coins compared to many nations in the last few years.

These gold coins are termed as Republic coins, and two subtypes exist in Ziynet (decorative) coins and Meskuk (standard). Ziynet coins are popular as citizens are used to buying them as gifts necessary for every special occasion, ranging from marriage ceremonies to engagement, military service, circumcision, and graduations.

Turkey has also embraced other uses of gold as a store of value to deal with inflation following the financial crisis and the massive inflation that the country experienced.

  1. Gold Bullion Coins

You may pay the lowest premium above the gold price for a bullion bar. Coins may trade at a premium to bars because of the fact that they are desirable and legal tender.

Most countries strike troy weight one-ounce gold coin, including Australia, Canada, and the US. Every US gold bullion coin and other foreign bullion coins are eligible when it comes to IRA investment accounts.

  1. American Buffalo

The American Buffalo got presented in 2006 as the United States Mints’ answer to Canadian Maple Leaf. With 99.8% gold purity, it is one of the purest gold coins in the US. Every coin has the ‘10z. 9999 Fine Gold stamp.’

Although it is among the purest gold coins in the United States, it is not popular among investors, especially those preferring the American Eagle gold coins.

  1. Gold Swiss Francs

Switzerland remains another popular country for gold coins. Especially, Swiss Francs are valued among investors and numismatists. Every gold coin used as a legal tender is collectively referred to as Vreneli.

Formally, they were referred to as Helvetia Head (in English), Teted’Helvetia (in French), and Helvetiakopf (in German).

 At times, Swiss Francs are called Swiss Miss since the obverse features a female, meant to serve as a national symbol of Switzerland and described as symbolic.

  1. Gold Parity Standard

In essence, this is the modern version of the gold standard. As a matter of fact, it came into force with IMF (International Monetary Fund) in 1946.

Under this, every member country must define the value of its currency in terms of gold so as to determine the rate of exchange.

Final Remarks!

Only a few assets just have a sheer appeal of gold globally. Gold ownership is still desired in every part of the world, no matter the background or faith. With such, gold coins, including foreign ones, were manufactured as currency, but later for investment reasons.

Categories: Finance