Introduction to buying gold coin
You can buy gold in many forms such as Gold coin, gold bars or as a gold jewellery. But buying gold coin is having several advantages over others.
You can buy pure gold coins and you can convert them as jewellery or you can sell the gold coins for the best market rate in future. You can even use a gold coin for gifting purposes.
Buying a gold coin is not an easy task. As being the first time gold coin buyer you may have many questions in your mind.
- Why should I buy gold coin?
- What type of gold coins to buy?
- Where do I buy gold coin?
- Is it good to invest in Gold coin?
- Things to consider while buying gold coin?
Buying gold coin is known as someone things need to Ask many questions before you decide what kind of gold coins available.
This guide will help you to answer all the questions you have about gold coin buying and you can make an informed decision.
Why Should You Buy Gold Coin
The gold coin has many advantages compared to other forms of gold. We have listed few here.
- It is a very good investment
- Can be used as a gift for a wedding, engagement, anniversary etc.
- Can be converted as jewellery anytime you wish
- Selling gold coin is easy compared to other forms of gold
If you are looking to buy gold as an investment then the gold coin is the best option.
Buying gold coins is always a good investment
The above image shows the history of gold rate and buying gold coin is always a good investment and also investing in gold coin is the safest Investment you can do in this economic fluctuations. Gold always stands tall in the worst times of the economy.
Different types of gold coins
Gold’s purity is determined based on the percentage of copper mixed with the gold. Though 24K, 22K, and 18K gold coins are available, it is better to go with 24K gold coin. You sell the 24K gold coin for the market price and you can also sell it easily.
There are different gold coin designs available. Gold coins with god’s images are very famous in India. You can spot gold coins with goddess Laxmi or lord Ganesh.
You can also customize the gold coin with photo or custom name engraving.
What Size Gold Coin Should I Buy?
Gold coin available in different weights and sizes. It starts with 1 gram and it can go up to 4 gram, 8 gram,10 gram, 20 gram, 50 gram and 100 gram. You need to choose the best size based on needs.
If you are buying a gold coin for gift 4-8 gram will be the best choice. Higher weights are preferred for investment purposes.
How to check gold coin rate in India Online
As the gold rate fluctuates based on the international market trading price, it is advisable to check the price of the 24K gold before deciding to purchase the gold coin.
Many online websites provide live gold rate updates in their websites based on country and cities. Below are the some of the websites you can check.
You can also subscribe to the following websites and you will be getting daily SMS alerts also when there is a steep change in gold rate.
Where to buy gold coins?
You have many options to choose the place where you can buy gold.
- Post offices
From Nationalized Banks
From online jewellery stores
From trusted offline jewellery shops
Private financial institutes
The following image depicts the advantages and disadvantages of buying gold from different places.
You have several advantages of buying gold coin online. We have listed few here.
- Best Pricing
- Refund policy
Things To Consider While Buying Gold Coin
You might already start researching about gold coins in online. There are some key points you should keep while buying a gold coin.
- BIS hallmark
- Check for gold rate difference
- Check buy back policies (Usually, banks don’t buy back)
- Authenticity of seller
How to sell gold coins
Selling gold coins for cash is relatively easy compared jewellery form of gold. You can sell the gold coin for the current market gold rate.
Most of the jewellery shops have “buy back policies” wherein you can give them a gold coin and get cash. You should keep the bill from the jewellery store for easy selling process.
Most online jewellery stores provide home pickup buy back policies if you want to sell the gold coin.
You can also sell gold coins in online. You can find the gold selling website list here. http://www.where2sellgold.com/