1 oz Gold Bullion April 29, 2009
Buying 1oz Gold Bullion Online
You can buy gold as natural flakes or nuggets right up to 1000 oz bullion bars with an amazing range of forms and sizes in between these extremes, including jewelry. The form you choose to purchase your gold in is usually determined by the end use. In this article we will explore the types of 1 oz gold bullion that are available for investment purposes.
1 oz gold bullion is one of the smaller units that you can purchase gold in if you are looking to invest in gold. The smaller unit size and cost makes it ideal for the small investor to accumulate a physical gold portfolio over a period of time. There are transport, storage, ease of use, and portability advantages to small units of bullion compared to the larger 100 oz and 1000 oz sizes. Gold bullion is also available in smaller sizes than one ounce but we won’t be covering these in this article.
Gold Bullion Coins
1 oz gold bullion coins are produced by mints all over the world. Many of these coins are legal tender although the face values on the coins are usually just a fraction of their gold content value. Coins can be purchased individually or in rolls and boxes. One advantage of gold coins is that they are hard to counterfeit. By weighing them with accurate coin scales and measuring them with a specific sleeve or gauge for the coin type it is easy to identify any irregularities in size and weight.
Gold bullion coins generally do not have any numismatic value. Their price is typically determined by their gold content based on the spot price of gold, plus a sellers premium. Both the spot price of gold and the sellers premium vary depending on supply and demand. Other 1 oz gold coins have numismatic value in addition to their gold value and while they are also purchased by investors, it is not so easy to determine the value of the premium, so we will not discuss them here.
Well known gold bullion coins include the South African Krugerrand, the Canadian Gold Maple Leaf, the American Gold Eagle, the American Gold Buffalo, and the Australian Gold Nugget, all of which contain exactly one troy ounce of gold each. The Chinese Panda, and the beautiful Austrian Philharmonic gold coins are also increasing in popularity.
Gold Bullion Bars
1 oz gold bullion bars come in two styles based on the manufacturing process. There is the conventional gold bar or ingot cast in a mould with stamped markings, and minted bars made from strips of gold that have pressed markings and sometimes holograms. The premium you pay over the spot gold price is normally less on the cast bars than the minted bars. The attractive minted gold bars typically come in a sealed protective plastic case with a certificate of authenticity and serial number. PAMP Suisse are probably the best known and sought after bars in this category. One ounce PAMP Suisse bars are 1 5/8 inches (41 mm) tall and 15/16 inches (24 mm) wide, are approximately 2mm thick, and weigh 31.1 grams (1 troy ounce).
These are the two main types of 1 oz gold bullion products that are easiest to identify and verify for purposes of buying and selling on the open market. You can buy gold and silver bullion online at 1ozbullion.com in all the different forms and sizes that are available.