Price. It is extremely important for investors to know the current spot price of any precious metal they want to deal in, whether buying or selling. There are bullion items that normally sell just a little over three to five percent above the prevailing spot price and this even depends on the quantity of the gold. Some examples are the American Eagle, Canadian Maple Leaf, and South African Krugerrand. Stay clear of high-pressure selling prices. These prices are so high that gold or silver prices must double or triple in value before you could make a profit.
Weight. It’s a must that you know how dealers weigh the gold. The most acceptable unit of measure on the international market is in troy ounces. You’d usually find that spot prices are in troy ounces too. Just take note that it is not identical to a standard ounce. A single troy ounce is equal to 1.0971 standard ounces – which means that a troy ounce is much heavier than a standard ounce. In grams, it becomes 31.1035 grams.
Design. Each coin has its own unique design, rich in very small details so that it’s very difficult to make an almost perfect counterfeit. So, when buying gold coins, look for these details and make sure that they all appear in the coins you are going to buy.
Purity. Always check for the gold’s purity before buying because not all golds are the same. They can be either 97%, 98%, 99%, 99.10%, 99.99% or 100% pure. Gold comes in many grades and varieties so check the certificates that authenticate their purity to make sure of the quality.
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