Who says you have to be rich to own a piece of gold? It’s strange how the brightness of gold can make someone feel jealous or make them daydream about things. But before you start thinking of swimming pools like Scrooge McDuck’s, let’s get down to business. You may get cheapest gold coins in your hand without having to take out a second mortgage.
First, size is really important, much more than you realize. The smallest coins usually have the best prices. You could squeeze one-gram gold bars and coins under your fingernail, but don’t laugh at how much they could be worth. Fractional coins, such as 1/10 oz or even 1/20 oz, let you show off without spending much more than the coin itself.
The gold “tenth ounce” is a popular way to go. Imagine a penny so little that you could lose it in a couch cushion, but it would still be worth more than all the pocket lint and spare change you have. They are light, easy to sell for cash, and you don’t have to pay for a whole ounce, which recently sold for more than most used automobiles.
If you like things that are old-fashioned, check out historical coins, especially ones from Europe. The French 20 Franc, the Swiss 20 Franc Vreneli, and the British Sovereign have been around for a long time. A lot of the time, they weigh less than a quarter of an ounce, and the premiums—the extra money buyers pay above the melt value—are usually minimal. Old coins can have scratches and bruises on them, but they won’t cost you as much as those shiny, uncirculated ones. Also, ancient gold has a romantic quality that makes you feel like you’re holding a piece of adventure.
Newly minted coins are also a possibility. Some national mints manufacture coins that are easy for beginners to use and that a lot of people like. The Maple Leaf, Kangaroo, and Philharmonic come in very small amounts that are very stimulating. Yes, they are small. But the sparkle and the feeling of pride are the same.
But be careful: fake goods are hiding in dark corners, waiting to pounce on anyone who want to buy them. That “deal” at the flea market? It’s better to leave it for the magpies. A seller who understands what they’re talking about and paperwork always comes with real gold.
The cheapest gold coins won’t make you the king of bling right away. But if you start accumulating those little jewels, you’ll have a real handful of security. And if the economy goes bad, you’ll have something better than a bunch of rubber dog toys. The golden rule still applies: When you want to get rich, start small, be clever, and let your collection shine—slowly but surely.