Gold and Silver Coins: The Best Gifting Options

Gold and Silver

Gold and silver are precious metals that are also considered useful. Therefore, it is common to give the bride or groom something made of gold and silver. In fact, North Indian tradition requires that the daughter-in-law’s first gift be gold jewellery.

A great gift option

Gold and silver coins are popular gifts for individuals and corporations.

·      For individuals

You can gift a gold/silver coin for your close family/friend’s wedding. Gold and silver coins are available in different weights, from less than 2g to 500g. So whatever the occasion, you can buy gold bullion coins or silver coins as a gift.

·      For companies

Handing out gold or silver coins to your employees and clients is an old practice in the business world. In fact, many stock companies commemorate their milestones with embossed silver coins that they give to your employees. Many employees receive valuable coins upon retirement as a thank you. Gold and silver coins are very popular as a gift for companies. Instead of gifting gold watches in recognition of long service some companies choose to give out custom made bullion coins. These are of course different from bullion coins. One would argue that they are as valuable and Olympic medals.

How to choose gold/silver coins

Now that you have decided to gift a gold or silver coin, there are some aspects you need to know before buying these coins. You can buy gold and silver coins from any reputable coin shop or bullion dealer. Buying gold and silver coins online is risk-free especially if the buyer is certified by a government mint. because they are certified sellers who only sell marked coins. You are guaranteed quality.

Material selection

You can buy gold bullion from any gold dealer. You need to know what the purity or quality of the gold you are about to buy.  Gold bullion coins are made of pure 24K gold, while yellow gold coins are made of 22K gold. The higher the purity of the gold, the higher the price. If you want to buy 24K gold coins, you have various options.

When it comes to buying silver coins, you can choose between 999 fine silver or mint silver coins.

Purity

Purity is the most important thing when buying precious metals. You can get coins in 22K and 18K. The higher the purity of the gold in the coin, the higher the price.

Silver also has different degrees of purity. While pure silver is marked 0.9999, there are many sterling silver coins marked S995 or S90096. These marks will help you identify the coin’s authenticity. With the advent of online shopping, people are buying gold and silver coins online from reputed dealers who are BIS certified. Not all coins are silver

Price

The price of precious metals like gold and silver varies from dealer to dealer. This is mainly because the ‘spreads’ are different. Furthermore, the price is affected by supply and demand. A reputable dealer will try to give you the best price for your gold and will not try to squeeze out more profit by inflating prices.

Also Read: Inventory Management System It Is What Keeps Businesses Moving

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