Handling gold coins
 

Forgive me if this is another dumb, newbie question, but I have searched the forum and can't find this anywhere ...

I received some great advice on this forum when buying my first silver coins regarding handling (not touching, not breathing on them, keeping them sealed in original bags) that undoubtedly prevented me from damaging much of my silver.

Having recently bought my first gold coins ... I am assuming that gold, being untarnishable, can be safely handled. I know that maples are a softer gold than k-rands, and more easily scratched. But is there any reason why any of them shouldn't be touched? (I am buying for the gold content and not collectability, and probably mostly k-rands. I don't plan to sell any for the forseeable future.)

If anyone with more experience can help I would greatly appreciate.

PS I noticed with the renewal papers for my house insurance that it was not valid in event of terrorist attack or warfare. It is comforting to know, I guess, that if some nutcase burns my house down at least I have the possibility of recovering my gold ... :D

Re: Handling gold coins
 

In principle you should handle gold coins as less as possible and only by the rims
Gold can be damaged by sliding it over the window of a scanner or by nail scratching , a rub with the softest material like silk may leave lines etc
The finger oil deposited is no problem because an acetone dip will clean up all the finger oils
Long ago I bought a 100 year old gold coin and smack in the middle of it was a complete fingerprint ; lucky for me it washed away with the first acetone dip
So if you like the feel of gold it may be a good idea to set one coin apart that you are going to handle and leave the rest in their sleeves or holders ( for gold a plastic sleeve is no problem )
The worst that can happen is that the guy buying the coin from you complains about excessive rubbing or some such and reduces the price by
X % so called charge to remelt the coin

Re: Handling gold coins
 

CJul,

By all means, I encourage you to indeed set one aside to handle. You probably won't feel the need to handle it too much, but still if you have never held a one ounce gold coin directly in the palm of your hand and contemplated it's weight, coolness (both meanings of the word), and softness, you are in for a treat, in my opinion.

Mostly handle them by the edges, but definitely try holding one on your hand -- at least once. I marvel at how we humans are drawn to and attracted by this simple yellow metal. But I feel it, too.

Congratulations on your purchase! :woohoo:

Re: Handling gold coins
 

Kruggerands and American Eagles are 22 carat coins - 1 oz gold + ~0.1 oz other stuff. They are alloyed with copper and/or silver and so are much more durable. I wouldn't worry about scratching such coins.

Maple Leafs, Perth Mint coins, Chinese Pandas, and Austrian Philharmonics are 24 carat coins - 1 oz gold and nothing else. Gold is soft. These coins are best not touched at all.

Re: Handling gold coins
 

[QUOTE
The worst that can happen is that the guy buying the coin from you complains about excessive rubbing or some such and reduces the price by
X % so called charge to remelt the coin[/QUOTE]


Thanks everyone. I notice that the maple leaf is slightly scratched already. I bought it from a bullion dealer, it was a good price but not advertised as damaged. Should I complain, or is this normal?

Re: Handling gold coins
 

Thanks everyone. I notice that the maple leaf is slightly scratched already. I bought it from a bullion dealer, it was a good price but not advertised as damaged. Should I complain, or is this normal?[/QUOTE]

Those maples have brushed dies which looks like a hundred scratches under a loupe ; if that is what you are seeing it is normal
I do not know whether the jpg figure will show the verticale lines (normal ) and the one or two horizontals which are (bag) marks

Re: Handling gold coins
 

Those maples have brushed dies which looks like a hundred scratches under a loupe ; if that is what you are seeing it is normal
I do not know whether the jpg figure will show the verticale lines (normal ) and the one or two horizontals which are (bag) marks[/QUOTE]

No, it is not the vertical lines � I noticed them in the silver maples and thought they were rather cool. I don't know what is a 'bag mark' and what is a 'scratch'. I phoned the shop and they said bring it in next time I was in town and they would change it if I wasn't happy. I'm probably just being paranoid ... think I'll stick to k-rands, less wear and tear on newbie nerves. :D

Re: Handling gold coins
 

If scratched gold and silver bullion coins like Eagles sell for less that "purty" ones I would reccommend buying those as you would probably get more bang for your buck.

Re: Handling gold coins
 

Worrying about the "wear marks" issue for bullion coins, and its either nil or miniscule effect on value is comparable, IMO, to calculating the NAV of your mutual fund prices to the sixth decimal point. If your holdings are not in Warren Buffet's size range, forget about it.

Not having to bother about "pretty" is why one BUYS bullion instead of numismatic in the first place.

IMO, 999 of 1000 purchasers will come out far ahead if they frequently handle ALL their PM's, including silver. Weigh them in your palm, stack them in piles, clink them against each other, enjoy the feel, enjoy the sound, enjoy their heft and their beauty. Doing this, you will be inspired to direct even more of your heard-earned money into PM's instead of frittering it away on consumables. And you will therefore, over time, buy additional amounts of PM. And you will therefore come out far, far ahead in the long run.

Enjoy 'em! Give yourself every pleasurable incentive to buy more!

Re: Handling gold coins
 

As long as it is a miniscule effect on value the marks don't bother me at all. I just don't want a dealer telling me it isn't a problem when I buy, to discover it has mysteriously become a problem when I sell ... the inexperienced is always most likely to get ripped off!

Re: Handling gold coins
 

No, it is not the vertical lines � I noticed them in the silver maples and thought they were rather cool. I don't know what is a 'bag mark' and what is a 'scratch'. I phoned the shop and they said bring it in next time I was in town and they would change it if I wasn't happy. I'm probably just being paranoid ... think I'll stick to k-rands, less wear and tear on newbie nerves. :D[/QUOTE]

Bullion coins are stamped between dies and then some machine will collect them and pack them for transport
Proofs might be handled by humans with cotton gloves
Depending on the handling you get scratches ( like cheap coins are ejected out of the machine into a bin on top of all the other coins and then transported in bags rubbing against each other ) this generated the name of bagmarks
Bagmarks are all the marks you might expect on coins made for circulation
Of course gold coins are handled somewhat more deferentially
Technically a scratches occur after the coins are unpacked at the bank
I still see goldvendors stacking their coins routinely ; stacking metal to metal is the easiest way to get scratches

Re: Handling gold coins
 

In the sixties and seventies I bought gold 20 francs and sovereigns at a bank ans stored them in that bank ( they had 20% so called numismatic value )
When I went to sell them in 1980 they were so called damaged and cleaned and I lost the 20% numismatic value
( Albeit at a much higher gold price )