First time collector
bf22
Posts: 4 ✭
I just purchased my first gold coin, I am unsure what I am looking for in relation to collectability and desire from collectors. This is what I bought, can I have your thoughts please?
2017 Australian Lunar Rooster 1oz Gold Coin (perth mint)
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What do you need to know? Do you want to sell it, or find out how much it is worth?
CCAC Representative of the General Public
Columnist for The Numismatist
2021 Young Numismatist of the Year
Thanks for your response.
I wish to keep it in the hope that it will eventually be worth money, with the global finances in the state of uncertainty I wish to convert my money to something worth having.
What i'm really wanting to know is, is this is right kind of coin the be purchasing and collecting, or would I be better off with gold bars? or another series of coins?
It honestly depends on what you have faith in. Of course, the above answer does not help. Find what you believe in by doing research and learning. If you plan to be investing, check price trends. If you plan to be collecting, learn about your series and how to buy it. But the book before the coin.
CCAC Representative of the General Public
Columnist for The Numismatist
2021 Young Numismatist of the Year
Gold can be tough. Some issues take off in popularity while others remain at or near melt.
It's tough to say.
Gold is essentially worth money because of perceived scarcity (and because the markets say it's worth money).
Of course there are industrial uses to prop up demand as well, but most of gold's value is because it's perceived to be valuable.
Just my 2c
That's not to say I don't like gold coins.........then again, there are probably very few who don't.
I just aquired some soverign coins.
1912, 1913, 1915 and 1919
The looked rooster coin I acquired is SUPPOSIDLY 1oz of gold. I just weighed on 3 scales and all scales say 1.1oz. is this something I should be worried about?
The coin you bought is 1 troy ounce (31.1 grams). This is the standard unit of weight used with precious metals. The more common avoirdupois ounce is 28.35 grams. The scales you are using presumably are measuring in avoirdupois scale (16 avoirdupois ounces = 1 pound). 1 troy ounce =~ 1.1 avoirdupois ounce