Are you looking into what gold coins are the best to invest in for 2023 and onwards? In this post, we have listed the best gold coins to invest in that will give you the best return on your investment.
Gold is a precious metal that has been a symbol of rank and power due to its beauty and scarcity since ancient times. It is a global emblem of riches, and the obsession with gold has not changed over the eras.
Instead, over the past few years, the production and price of gold have dramatically increased.
Gold Offers Risk Diversification
Gold is a tempting asset for the one looking for risk diversification and an inflation hedge. It can be used in multiple varieties for personal and investment purposes.
What is also great for the person who holds family dear is that precious metals can be passed down through generations.
Gold and other precious metals also act as a barricade against economic insatiability, inflation, war, and global unpredictability. In order to avoid any financial disaster, investors are buying gold coins and gold bars since it offers portfolio diversification and stable growth due to their high returns over the long term.
For example, here you can see gold’s stable 30-year price increase:
Additionally, the precious metals market is also projected to hit $403.08 billion in 2021-2028 and shows a CAGR of 5.6%. Another reason why investors are excited about the yellow metal.
Should You Invest In Gold Right Now?
We bet the first fundamental question that comes to your mind is whether it’s worth it to invest in gold when the economic crisis is on the verge and the market is volatile.
The simple answer is YES!
First of all, According to CBS News, comparable to US dollars and stocks, gold remains one of the oldest and most robust modes of investment as the above can lose their value very easily depending on the economy.
To elaborate a bit further, let’s take a look at some benefits and disadvantages of investing in gold.
Benefits Of Investing In Gold
There are many obvious benefits of investing in gold and here are a few:
- The value of gold doesn’t fluctuate much and remains stable, so it can be considered a safer asset to invest your hard-earned money
- Gold is a hedge against inflation. Unlike paper money or other types of investments, gold is a physical asset that can be stored and traded. As long as people continue to see it as a valuable commodity, gold is likely to remain a good hedge against inflation
- Gold limits exposure to economic uncertainty and can help diminish negative fallout from the coronavirus economic crisis
- Also, the gold price is expected to rise with a CAGR of 5.6% from 2023 to 2028
- Lastly, gold offers protection and adds portfolio diversification. If anything, it allows you to take real ownership of your financial future and ride out any economic storm
Other factors that make gold unique:
- Owning gold stocks does not entitle you to possession of the metal. If you want to own physical gold bars and gold coins in a tax-deferred account, you should consider investing in a gold IRA, also called precious metals IRA
- Inflation doesn’t decrease the value of gold significantly. Often, gold price increases in times of high inflation
- Newly-minted coins typically consist of 90% to 99% pure gold
- Gold provides no income stream unless you own stocks or mutual funds that pay dividends. However, gold is the world’s standard currency, which can be extremely valuable in case the dollar loses its value and the gold supply decreases
Disadvantages Of Investing In Gold
As with any asset class, there are disadvantages of investing in gold (even though they are few):
- It can be easily stolen. However, you can avoid this by investing in gold through a gold IRA, which stores the gold in a third-party state-of-the-art vault (IRA-approved depositories)
- You won’t get dividends or interest from tangible gold
- You may have to wait years for gold to increase in value
Despite this, savvy investors choose to invest in gold since it offers wealth protection and is a tangible asset that can never be worth zero. Unlike companies that could go under at any moment, precious metals have been and will be around forever.
Now that you know some benefits and disadvantages of investing in gold, let’s take a look at what the best gold coins to invest in are.
The Best Gold Coins To Invest In
Gold coins are available in one, two, half, and quarter ounces. To help you select an excellent option for your investment, we have listed the best gold coins to invest in for ultimate portfolio growth and diversification.
Gold American Eagle
The American Gold Eagle is an official and authorized gold coin of the United States, which makes it one of the most popular gold coins to invest in.
Because the term “eagle” is the official United States designation for pre-1933 ten-dollar gold coins, the weight of the bullion coin is typically used when describing American Gold Eagles (e.g., “1/2-ounce American Gold Eagles”) to avoid confusion.
This is particularly true with the 1/4-oz American Gold Eagle, which has a marked face value of ten dollars.
This coin features an image of Lady Liberty holding an olive branch and a torch in a classic design by Augustus Saint-Gaudens. The name of the coin, however, comes from the design by Miley Busiek on the reverse side, which features a male bald eagle guarding his family.
Overall, the Gold American Eagle delights in unequaled acknowledgment and ease of liquidity, making it one of the best gold coins to invest in.
American Gold Buffalo
American Gold Buffalo is a gorgeous gold coin delight in remarkable appeal, mostly since their artwork is a performance of the famous 1913 Buffalo Nickel, by James Earle Fraser.
The American Buffalo gold coin obverse features the magnificent profile portrait of a Native American chief. It reversely portrays a marvelous American buffalo influenced by Black Diamond, the American bison that resided in New York City’s Central Park Zoo in the 1910s.
Investors are mainly choosing to invest in this gold coin due to its .9999 fineness and immediate recognizability.
Canadian Maple Leaf
The Canadian Maple Leaf gold coin is recognized globally for its purity, refinement, and beauty. Convenient in size, these gold coins are suitable for investors who prefer a physical investment they can hold in the palm of their hand.
Further, the Canadian Maple Leaf gold coin brings a legal tender worth $50 Canadian backed by the Royal Canadian Mint.
In addition, during the gold depression years, when some of the other mints reduced their gold coin production, Canada preserved its levels and ensured its coins were readily available.
Undoubtedly, buying gold coins for investment was getting financiers and keeping them to the standard of quality and assurance.
South African Krugerrand and Austrian Gold Philharmonic
Lastly, two other popular gold coins available for investment in 2023 and onwards are the South African Krugerrand and Austrian Gold Philharmonic.
Best Gold Coins To Invest In Conclusion
To conclude, gold buyers should always select the coins that offer the best return on their investment, which means they obtain the most amount of gold value for dollars spent.
The best way to buy gold will ultimately depend on your specific situation. For example, are you looking to give it away as a gift? Or do you want to diversify parts of your IRA, 401(k), TSP, or other pension accounts with gold, silver, or other precious metals?
No matter your reason for buying gold, it is always recommended to make purchases using a reputable, licensed gold dealer.
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