Question on Gold Coins

[Rivers]

Why are 2012 one ounce gold coins from different nations or mints priced differently?

Is an American gold Eagle better than a Canadian gold Maple or an Australian Kangaroo?

[<===Foolsgold]

The AGE is my most popular choice because I live in the US and am concerned about liquidity.

If I lived in Canada I would probably own more maples.

Prices generally follow popularity and availability.

I should also mention that as time goes by I am more intersted in the most bang for the buck so I would also buy Krugerands (if they are cheap) or mexican 50 pesos.

[Goldfarmer]

Also different purity for some different coins, ie 22 carat vs. 24 carat so consumer choice changes prices a bit.:flute:

[Joseph]

FWIW - I bought 1oz Canadian Maples yesterday because they were cheaper than AGEs and Krugs. They're also .9999

[Irons]

Get whatever gold you can get for the best price. Paying big premiums is a waste of $$.

[AgBar]

Why are 2012 one ounce gold coins from different nations or mints priced differently?

Not meaning to be glib, but: supply and demand. Certain coins are more popular, or perhaps minted in smaller quantities, or maybe sold above spot by whatever mint to the wholesalers, etc.


Is an American gold Eagle better than a Canadian gold Maple or an Australian Kangaroo?

"Better?" Perhaps from an asthetic sense certain coins may be "better" than others. Personally, I think the Maple is a beautiful coin, and I think Krugs are just about the ugliest lumps of alloy I've ever laid eyes on. Others, no doubt, disagree. And also, I've stopped buying gov't issue coins of all sorts; again, a personal decision.

But an ounce of gold is an ounce of gold is an ounce of gold, whether it's in bar form or coin, and regardless of what shapes are struck into the surface.

[Not Sure]

Why are 2012 one ounce gold coins from different nations or mints priced differently?

Is an American gold Eagle better than a Canadian gold Maple or an Australian Kangaroo?

Supply & demand. "Better"? No, just preferred by some, and vice-versa.

[<===Foolsgold]

There is also this little tidbit which I reluctantly bring up because I anticipate being attacked but here goes.....My comments are bolded.

Second: There are rules which apply only to bullion and only when you sell. They have nothing to do with your purchases, and do not apply to rare coins. Kilo bars are 32.15 troy ounces of gold and are subject to reporting. We are also required to report any gold bar sale totaling 32.15 ounces are more. Concerning 1 troy oz. gold coin transactions: If you sell 25 coins or more of the Krugerrand, Maple Leaf or Mexican Gold Onza we are required to report them on I.R.S. Form 1099B. Such reporting is not required on transactions involving the U.S. Gold Eagle the Australian Kangaroo or the Austrian Philharmonic. There is also no reporting on any small gold bullion coins.

This is from the CNI website.....http://www.golddealer.com/

It appears in THEIR "Investment Guide - 14 Please read before Investing"


I cannot attest to it's accuracy.

[Tinbox]

Why are 2012 one ounce gold coins from different nations or mints priced differently?

Is an American gold Eagle better than a Canadian gold Maple or an Australian Kangaroo?

not really, but whatever country your in its probably best to buy that coin (if similary priced) since i think it will be easier to sell, and you might be able to get a bit more for it.

[SongSungAU]

There is also this little tidbit which I reluctantly bring up because I anticipate being attacked but here goes.....My comments are bolded.

Second: There are rules which apply only to bullion and only when you sell. They have nothing to do with your purchases, and do not apply to rare coins. Kilo bars are 32.15 troy ounces of gold and are subject to reporting. We are also required to report any gold bar sale totaling 32.15 ounces are more. Concerning 1 troy oz. gold coin transactions: If you sell 25 coins or more of the Krugerrand, Maple Leaf or Mexican Gold Onza we are required to report them on I.R.S. Form 1099B. Such reporting is not required on transactions involving the U.S. Gold Eagle the Australian Kangaroo or the Austrian Philharmonic. There is also no reporting on any small gold bullion coins.

This is from the CNI website.....http://www.golddealer.com/

It appears in THEIR "Investment Guide - 14 Please read before Investing"


I cannot attest to it's accuracy.

That would appear to be accurate info according to this:

Which Gold Transactions are Reported to the IRS?
by JR White, submitted 2010-11-20
http://goarticles.com/article/Which-Gold-Transactions-are-Reported-to-the-IRS/3680582/

2012 Instructions for Form 1099-B
http://www.irs.gov/pub/irs-pdf/i1099b.pdf
Refer to the "Sales of precious metals" section

[<===Foolsgold]

That would appear to be accurate info according to this:

Which Gold Transactions are Reported to the IRS?
by JR White, submitted 2010-11-20
http://goarticles.com/article/Which-Gold-Transactions-are-Reported-to-the-IRS/3680582/

2012 Instructions for Form 1099-B
http://www.irs.gov/pub/irs-pdf/i1099b.pdf
Refer to the "Sales of precious metals" section

That's why I own GAE's primarily.

I also don't live under the illusion that I will fly under the radar, because soon uncle sam's head will be so far up our collective a$$es he will be able to see what we ate for breakfast.

[HairHopper]

I also don't live under the illusion that I will fly under the radar, because soon uncle sam's head will be so far up our collective a$$es he will be able to see what we ate for breakfast.

Uncle Sam controls us because there is a paper record of almost any asset or large money transaction these days. The beauty of gold coin however is that once you have it, nobody has to know what you did with it. There is no law against being stupid (or they would have locked up 90% of the population) so if anyone asks, you could have buried them somewhere and them "forgot" about them. Hand them a shovel and point at the woods.

[Joseph]

Uncle Sam controls us because there is a paper record of almost any asset or large money transaction these days. The beauty of gold coin however is that once you have it, nobody has to know what you did with it. There is no law against being stupid (or they would have locked up 90% of the population) so if anyone asks, you could have buried them somewhere and them "forgot" about them. Hand them a shovel and point at the woods.

I lost all of mine in a boating accident !!!! :smile:

[lumpOgold]

I like old small gold, 20 Franc Rooster and Napoleons, 20 Franc Swiss Miss and the 8 Florin/20 Franc Austrian picturing the Hun Franz Joseph ;) . In general I don't like the Belgische gold because Leopold does nothing for me.

And the Mexican little silver, if you watch you can get the 2, 2 1/2 and 5 peso coins for very close to spot sometimes.

[American Chestnut]

"Concerning 1 troy oz. gold coin transactions: If you sell 25 coins or more of the Krugerrand, Maple Leaf or Mexican Gold Onza we are required to report them on I.R.S. Form 1099B. Such reporting is not required on transactions involving the U.S. Gold Eagle the Australian Kangaroo or the Austrian Philharmonic. There is also no reporting on any small gold bullion coins."

I was aware of this on AE's ...but why would this be true for Australian and Austrian coins?
Also can one sell 100 ounces of "small gold bullion coins" with reporting it? Not that I am that concerned about any of this but I'm curious.

[Irons]

"Concerning 1 troy oz. gold coin transactions: If you sell 25 coins or more of the Krugerrand, Maple Leaf or Mexican Gold Onza we are required to report them on I.R.S. Form 1099B. Such reporting is not required on transactions involving the U.S. Gold Eagle the Australian Kangaroo or the Austrian Philharmonic. There is also no reporting on any small gold bullion coins."

I was aware of this on AE's ...but why would this be true for Australian and Austrian coins?
Also can one sell 100 ounces of "small gold bullion coins" with reporting it? Not that I am that concerned about any of this but I'm curious.

Those coins have a dollar or other currency value on them, therefore exempt.

I think they are trying to lull you into thinking they won't tax the living snot out of you on your profits if you admit you have them.

[TomD]

I think they are trying to lull you into thinking they won't tax the living snot out of you on your profits if you admit you have them.

The tax rate for collectibles and bullion is, I'm pretty sure, 28% on the gain.

[Irons]

The tax rate for collectibles and bullion is, I'm pretty sure, 28% on the gain.

Good thing those suckers go right into the lake! ~ :flute: