Where Do Gold Coins Come From?

If you are thinking about purchasing gold bullion coins, you might wonder where these coins come from in the first place. Gold bullion coins are struck by government mints, private mints, and refineries.

Private Mints

Because a private mint is not associated with a government, they will often create rounds rather than minting coins. Many of these private mints stand out by being artistic and innovative with how they design their coins so they can stand out from other mints. However, they will also sometimes print the legal tender of smaller governments who prefer to outsource these services.

Government Mints

The gold coins produced by government mints are legal tender as long as they are stamped with a face value. For example, the American Gold Eagle is worth between $5 and $50 in legal tender. However, these coins often sell for thousands of dollars to collectors and investors.

Refineries

A refinery is a place where the gold is made to create gold coins. Refining is the process of extracting precious metals from minerals and from recycled products. This is done through either the Miller process or the Wohlwill process. The Miller process refines gold by using gaseous chlorine and separating the impurities on the surface of the molten gold. 

The Wohlwill process uses electrolysis. The impure gold is lowered into a solution made from gold chloride and hydrochloric acid. An electric current causes the gold to travel to an electric cathode, and it is then transformed into its metallic state. The impurities then become a separate solution. 

How the Composition of a Gold Coin Is Determined

There are several methods that can be used to determine the composition of a gold coin. Fire assay, touchstone, and density measurement can determine how much gold is present. Density measurement is considered to be the least effective way to determine how much gold is in a gold coin. ICP spectrometry and x-ray fluorescence can also detect other materials found in the gold coin.

Knowing the value of the gold coin is important when determining how much you should pay for it or how much money you should receive when selling it. The artistic design of the gold coin can play a large role in how much it is worth, but the percentage of gold content is much more important. Therefore, it is important to test the gold to determine how pure it is and it's also helpful to know where your gold coins have come from. 

If you want to buy gold bullion coins, contact a seller in your area.

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