What Is the Best 1 oz Gold Coin to Buy?

by | Aug 26, 2020

Curious about which gold coins are the best to buy? If you purchase gold coins as an investment or as collectibles, this questions has probably crossed your mind. But what makes one gold coin better than the rest?

We will cover the best 1 oz gold coin you can get your hands on and some honorable mentions. In case you’re new to gold, we’ll start with how to value gold coins and things you should look out for when purchasing a new unit.

How Are Gold Coins Valued?

How is it that two gold coins of the same weight can have two different values? Well, it’s complicated. Even though two gold coins can look identical, appearances can be deceiving. Many factors play into the value of a gold coin.

Type of Coin

Gold coins come in many different shapes and sizes. When judging a coin’s value, it’s essential to understand which kind of coin you’re handling. Here are some of the most common coin types:

Certified Coins – These coins have their condition verified by a dedicated grading service, and are then rated between 1 and 70 on the Sheldon Coin Grading Scale. The higher the rating, the better the coin. Certified coins can be more valuable even if they bear the same weight.

Bullion Coins – These coins contain precious metals such as gold and silver. People typically buy bullion coins in bulk and hold them as investments. The market price of gold and the condition of the coin are the main influences of the coin’s value.

Proof Coins – Proof coins are valued based on the method of their manufacturer. These are the best quality gold coins minted in the United States. Proof coins are put in a high-quality package to maintain their elegant finish.

Uncirculated Coins – Uncirculated coins include public coins that are not in general circulation, coins that have a mint state of 60 or higher, or coins removed from the production process. Mints around the world produce uncirculated coins in larger quantities, and they’re much cheaper than proof coins.

Coin Size

Bigger is better, right? Well, it is when it comes to gold coins. The bigger the coin, the higher the value. If a coin is thicker and has a larger diameter, it’s going to be more valuable. Bear in mind size isn’t the only thing that determines higher value. A 1/10 oz coin can be worth more than a 1 oz coin if it’s scarce or has a significant history.

Coin Condition

The condition (also known as the grade) of a gold coin plays a considerable role in its value. As mentioned above, coins are rated on a scale of 1 to 70, and the higher, the better. For example, a coin with a rating of 70 would be 70 times more valuable than the same coin with a score of 1. Typically coins with higher scores have little to no scratches or imperfections.

There are many high-grade coins in circulation today. A professional third-party examiner grades all coins. If you’re into collecting gold coins, you may want to think about getting protective cases to preserve their condition.

The Seller

Did you know that where you buy your gold coins can affect its value? You want to make sure you’re getting your gold from a reputable supplier. Many local dealers have a high sales tax and provide false advertising.

Avid gold investors and collectors usually purchase their coins online. Buying gold online is quick and easy. Also, you avoid the awkward pressure of the in-store salesman trying to influence your decision. We recommend buying your coins online, just make sure real customer reviews back the site you’re visiting.

Top 7 Best 1 Oz Gold Coins to Buy

candian maple gold coin as one of the best gold coin

1. 1 oz Gold Maple Leaf Coin – Royal Canadian Mint

The Canadian government issues this gold bullion coin every year. The Gold Maple Leaf coin is made by the Royal Canadian Mint using gold entirely mined in Canada. The Royal Canadian Mint is known for its quality and purity, and this pure bullion is no exception.

Since its release in 1979, it has become one of the most popular gold coins for investors and jewelers. The Gold Maple Leaf coin is considered legal tender and has a value of 50 Canadian dollars.

2. 1 oz Gold Kangaroo – Perth Mint

This coin has been around since 1986 and is widely known as one of the best gold coins to buy. Its wildlife design is likely the most recognized around the globe. The Perth Mint is unrivaled for beauty and quality, and the 1 oz Gold Kangaroo coin is their flagship product.

If you’re an investor looking for a coin that has familiarity and consistent quality, you can’t go wrong with the Perth Mint’s Gold Kangaroo coin. It’s made from .9999 fine gold and has a value of 100 Australian dollars.

3. 1 oz Gold Buffalo Coin – United States Mint

One of the newer coins on our list, the United States Mint started producing this coin in 2006 to compete with the almighty Gold Maple Leaf Coin. It’s also a genuine alternative to the 1 oz American Gold Eagle coin. This gold coin contains .9999 fine gold (24 kt), which is slightly more than the American Gold Eagle (.9167/22kt).

Its stunning design is highly-memorable among investors and collectors—the 1 oz Gold Buffalo coin is legal tender with a value of 50 US dollars.

4. 1 oz Gold Philharmonic Coin – Austrian Mint

The Philharmonic Coin by the Austrian Mint resonates with the beautiful music produced in the Vienna Concert Hall. It was the first gold bullion coin out of Europe explicitly produced for investors. The Austrian Mint had the idea for the coin in 1986 and was officially released in 1989.

All of the Gold Philharmonic coins for sale today contain .9999 pure gold (24kt) and have a legal tender value of €100. Any investor who has a taste for elegance and is looking for a coin that’s easy to obtain can count on the Austrian Mint’s beautiful Gold Philharmonic Coin.

5. 1 oz Gold Britannia – United Kingdom Royal Mint

In 2013, the United Kingdom Royal Mint refined its Gold Britannia coin to be .9999 pure gold (previously .9167). One side showcases Queen Elizabeth II, while the other contains the Roman depiction of the female Britannia guarding the seas.

The United Kingdom Royal Mint (formally the British Royal Mint) has been in operation for over 1,000 years, producing high-quality gold coins for both England and the world. The Gold Britannia contains a full troy ounce of gold and has a legal tender value of £100.

This coin is IRA eligible, making it a sound and affordable investment for those looking to add some gold to their portfolio.

6. 1 oz Gold Krugerrand – South African Rand Refinery

By far the most controversial coin on our list, the 1 oz Gold Krugerrand coin was first produced in 1964. It was the first South African gold bullion coin made available to the public and quickly became one of the most popular gold coins to buy worldwide.

The Krugerrand coin contains  91.7% gold, with the remaining metal being copper. The name “Krugerrand” is a combination of South Africa’s first Boer president, Paul Kruger, and the official currency of South Africa, the rand. One side of the coin has a profile of Paul Kruger, and the other side portrays the Springbok, South Africa’s national animal.

During apartheid, many nations set a range of sanctions on South Africa. As a result, the Krugerrand became less obtainable around the world, forcing other countries to mint their gold bullion coins.

Today, the Krugerrand is still an excellent value for money and is highly-available.

7. 1 oz Gold Eagle Coin – United States Mint

The classic 1 oz Gold Eagle coin is by far the most popular coin the United States Mint produces. Since 1986, the United States Mint has been making these popular gold coins exclusively with gold mined in the United States. The Gold Eagle coin has a legal tender value of 50 US dollars and is slightly larger than the 1 oz Gold Buffalo coins.

Final Thoughts

Nothing is more exciting for avid gold investors than discovering new coins. Choosing the right coin takes a bit of vetting, so make sure you study the coin’s value and history. While it may be tempting to buy a trending coin, it could be detrimental for long-term value. Gold investing is a marathon, not a sprint.

Whether you’re buying a gift for a special friend or looking to diversify your portfolio, do your homework, and determine why you want to buy a coin in the first place.

What are your thoughts on the coins on our list? Let us know if you have any questions about gold investing, and make sure to check out some of our other posts for more valuable information.

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