Gold coins have been available in 1 oz weight since 1967. Most precious metals investors and numismatists would agree that 1 oz is the “standard” size for gold coins. So, here’s what you need to know about buying 1 oz gold coins and why Provident Metals is the right dealer for you.
Now, the first thing to understand is that 1 oz gold coins don’t necessarily weigh 1 oz. The 1 oz refers to the full troy ounce of gold contained within the coin.
However, no coin could be 100% gold, as gold’s malleability would make such a coin untenable. Some of them are quite close to pure, but others may contain significant portions of other metals. 1 oz gold coins are available with the following fine gold purities:
Now, it’s important to realize that the other metals contained within a coin vary according to their producers. Both the US Gold Eagle and the South African Krugerrand are minted in 22-karat gold, or 91.67% pure. However, while both coins use copper as part of their alloys, the Eagle also contains 3% silver.
South Africa became the first country in the world to offer a 1 oz gold bullion coin. The country first presented the Krugerrand to the world in 1967, and the coin enjoyed a near-monopoly for the first 20 years of its existence.
However, in response to growing concerns and outrage about South Africa’s racist apartheid system, other countries began producing their own bullion coins to compete with the Krugerrand. Thus, after the 1980s, there were several different options for investors looking for great bullion coins.
Some of the most prominent countries that produce 1 oz gold coins include:
Provident Metals has decades of experience offering 1 oz gold coins to the public. We enjoy an A+ rating from the Better Business Bureau and have tens of thousands of positive customer reviews under our belt.
We are available to help you with your purchases any time, day or night – even on holidays. Call us, email us, or live chat with us to find out more about our selection of 1 oz gold coins.
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