In recent years, gold has continued to play the role of a safe haven for investors around the world. Despite market fluctuations, the precious metal remains an attractive option to protect one’s assets against inflation and global economic uncertainties. In fact, in 2023, the price of gold has shown an upward trend, reaching values close to $2,000 per ounce, driven by the geopolitical crisis and the instability of the financial markets.
However, investing in gold requires attention and strategy. To successfully navigate this market, it is essential to follow some golden rules, literally and figuratively. The first thing to consider is the purity of the gold. It is better not to go below 22K, but even going as high as 24K is a choice to evaluate. If, on the one hand, the presence of other metals in the alloy reduces the purity of the gold, on the other hand it lowers the risk that the coins may be damaged during handling. It is true that nowadays coins spend a lot of their time in safety deposit boxes, but this is not necessarily their fate in the future. Second tip: gold coins must belong to common circuits. Unknown coins risk being removed from exchanges and finding themselves without a market. For example, coins with writing in Arabic characters may not be of interest to Western buyers. It is therefore important to buy coins characterized by a high demand, to avoid running the risk of not being able to resell them when and if necessary.
Third, like brands, coins are somehow “guaranteed” by their origin. Among the most popular coins are the Australian kangaroo coin, the South African rand, the American eagle, the British pound, and the Austrian Philharmonic Orchestra gold coin, which is considered one of the most beautiful in the world. Recently, the Turkish coin has also started to gain attention. Fourth, although their value is mostly intrinsic, gold coins should be aesthetically pleasing. Chinese coins with pandas are also popular in this part of the world, especially since China has changed the decoration on its coins every season, in an effort to make them collectible.
Fifth: pay attention to the weight of coins that are not directly comparable to each other, as the weight and purity of the alloy enter into the calculation. Sixth: gold coins are not a short-term investment. Given the fluctuation of prices, experts recommend keeping them in your portfolio for at least three years. Seventh: avoid rare coins. Their gold content is not guaranteed, not to mention the fact that two coins may seem the same, but only an expert can evaluate their quality and value. Finally, experts recommend depositing the coins in a third-party safety deposit box, rather than leaving them in the custody of the dealer who could take advantage of the buyer’s trust.
