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American Eagle Vs Everyone Else

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OwenSmith's Avatar
United States
2 Posts
 Posted 08/07/2014  1:45 pm Show Profile   Bookmark this topic Add OwenSmith to your friends list Get a Link to this Message Number of Subscribers
Hello, I did a search and couldnt find this topic. So excuse me if I missed it.

I am new at collecting gold coins. I'm not sure if anyone can help me with this. What is the difference in buying an American Eagle gold coin vs a British gold coin or Australian gold coin or Chinese gold coin or Canadian gold coin or from any other country gold coin. When you buy gold coins, does it support the country? Thanks

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ASEnut's Avatar
South Africa
453 Posts
 Posted 08/07/2014  1:49 pm  Show Profile   Bookmark this reply Add ASEnut to your friends list Get a Link to this Reply
I dont think you per say support the country but you support the company, but it will have a chain reaction so it might
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denco7's Avatar
United States
2543 Posts
 Posted 08/07/2014  2:22 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
Gold is gold is gold is gold, as far as bullion is concerned. The only differences are, bullion coins are fully backed by the issuing gov't.(I hardly think that people are going to consider the gold coins of any Gov't worthless, if that gov't goes under. It is still gold.

The other difference is fineness, AGE's are .999 fine, while Maple Leafs are .9999 fine. They all still have 1 oz of gold.
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OwenSmith's Avatar
United States
2 Posts
 Posted 08/07/2014  2:25 pm  Show Profile   Bookmark this reply Add OwenSmith to your friends list Get a Link to this Reply
Thank you.
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SDCrow's Avatar
United States
456 Posts
 Posted 08/07/2014  4:33 pm  Show Profile   Bookmark this reply Add SDCrow to your friends list Get a Link to this Reply
Agree with denco7, with the exception that gold eagles are .9167 fine. You need to go with gold Buffalos to get 24kt American gold bullion.
Edited by SDCrow
08/07/2014 4:35 pm
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Northerncoins's Avatar
Canada
2019 Posts
 Posted 08/07/2014  4:56 pm  Show Profile   Bookmark this reply Add Northerncoins to your friends list Get a Link to this Reply
Just adding more detail from a site that I found.


Quote:
So does this mean that the difference between the Gold Eagle and the Gold Buffalo is that the Gold Buffalo contains more gold? No. In fact, the "1 oz." version of the American Gold Eagle contains 1 troy oz. of gold in addition to the copper used to make the coin harder. On the other hand, the American Gold Buffalo also contains 1 troy oz. of gold, but does not contain the copper of the Gold Eagle. The idea behind minting Gold Buffalos in addition to Gold Eagles was to compete with other 24 karat gold bullion coins on the market.

So what's the difference? The American Gold Eagle is made of 22 karat gold, and the American Gold Buffalo is make of 24 karat gold. Both coins contain 1 troy oz. of Au -- the element gold. The American Gold Eagle was designed after other popular gold coins originally meant for circulation, and the American Gold Buffalo was designed to compete with other 24 karat gold coins such as the Canadian Gold Maple Leaf. Thus, the Gold Buffalo is much softer than the Gold Eagle, and should be handled with extreme care to better preserve its numismatic value.


http://mazack.org/hobby/gold_eagle_..._buffalo.php
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Sap's Avatar
Australia
16809 Posts
 Posted 08/07/2014  8:35 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Countries do make a small (or for some countries, not-so-small) profit from the production and sale of their bullion coins. They would not make them if they could not make them profitably. So in that sense, yes, buying Canadian coins "supports" the Canadian government, and so forth.

Such "support" is higher for countries that actually mine the precious metal in question. Australia, for example, has plenty of gold and silver mines, but no platinum mines - so Australian gold and silver coins are more profitable for the Australian mints (and therefore the Australian governments that own them) than "Australian" platinum coins, because the Australian mint has to import every ounce of platinum from South Africa or Russia.

Finally, some countries receive very little of the profits from the production and sale of "their" coins, because foreign and/or private mints are making them in their name. Fiji silver turtles, for example, are made by the "New Zealand Mint", a private mint (not government owned). The Fijian government hopefully receives a piece of the action, but the lion's share of the profits are going to the private mint's operators.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bryan78's Avatar
United States
1068 Posts
 Posted 08/07/2014  9:42 pm  Show Profile   Bookmark this reply Add Bryan78 to your friends list Get a Link to this Reply
Sap is right that you would support the country of origin on a bullion coin but ONLY if you are the initial buyer of the bullion...

If you buy bullion at a local coin shop then you would be supporting the local coin shop because the initial buyer has already supported the country of origin...

Kinda like buying a used car vs. a new car.... Buy it new, and it looses it's value once you drive it off the lot.. But if you buy it used, than it had already depreciated so you don't lose anything...
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Libertad's Avatar
Canada
3692 Posts
 Posted 08/13/2014  07:48 am  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
Remember that the Canadian Maple hit the scene because people were politically against South Africa at the time. You can also look at purity if you're truly "stacking" gold in your safe.

Generally it is best to hold the bullion of your country because they are accepted in some banks, 401K, and are generally more recognizable. But because gold is gold, a bar does the job just as well and at a cheaper price. I could care less what my gold looks like as long as it is the pure element. I would actually prefer to stack wire for various reasons, albeit pricier.
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