Gold and silver coins are the most common.
Selling gold coins is often very easy because the weight and purity of the coins is known. Many of these coins are 24 carat i.e. 99.99% pure or they can include other metals, most commonly silver and copper. Many coins that are pure gold or silver will be stamped with their purity. If you look closely at the coin you may see a series of 9’s on it, 9999 for gold and 999 for silver. Some common examples of 24ct coins are:
- Perth Mint gold bullion coins including the Lunar series and Kangaroo coins
- Canadian Maple Leaf coins
- Royal Australian Mint Gold Kangaroo coins
Some common impure gold coins include
- Sovereign’s – A 22ct coin
- American Gold Eagles – A 22ct coin
- Krugerrands – A full size Krugerrand contains 1oz of fine gold
Silver coins are most often pure or 999’s silver. Coins that are 92.5% pure are also produced though. For this reason it is worth looking at the surface of your coins or their certificates/boxes to see if there is any indication of the purity.