Hi, I am planning to buy some gold coins for a huge amount but am not sure which one to buy,should I go for 22kt or 24 kt ones,I will be using it to buy jewllery later probably after 10 yrs or so or I will also keep it as an asset and pass it on to my children.ANy input would be useful..................
If you don't want to make jewelry then go for 24k. This is more pure and it will give you more returns in future.
"Because of the softness of pure (24k) gold, it is usually alloyed with base metals for use in jewelry, altering its hardness and ductility, melting point, color and other properties." Wikipedia quote, if he wants to make jewelry he'll need 24k, if not, he can pick other, less pure types... Either way, I recommend 24K, pure gold is a lot better in a lot of aspects in my opinion.
If it's just for decorative jewelry, I'd go with a lesser purity than 24k. It looks just as good, even when you get down to 10k, and you don't worry so much about scratches and dents. I'm only concerned about purity when it's for investment purposes, and then I usually would buy gold eagle, maple leaf or kruggerand coins or something similar.
For how much amount are you going to buy? 1 Oz Golden Eagle bullion coin comes for around $1,600 now. Since you are buying in very large quantities, I recommend you to buy up the 1 Oz coins rather than going for the lower denomination ones. 1 Oz Kruger Rand or 1 Oz Gold Maple Leaf coins are also coming in the same price, the last time I checked it was $1,525 to $1,645.
The original gold sovereigns were minted in 1486 during the reign of Henry VIII. The British Sovereign gold bullion coin was reintroduced in 1816 at the height of the British Empire.
