Since the price of gold is getting higher and higher, many people are thinking of investing in gold. Equally as many people are thinking of selling gold.
One of my friends mention that he has some old Singapore gold coins at home.
Up to now, I did not even know that the Singapore Mint ever sold commemorative gold coins.
I offer to check the value of the Singapore gold coins for him.
The information I need is the year of the mint. He remembers correctly as 1975.
However, the 1975 Singapore gold coins, minted to commemorate the 10th year independence of Singapore is not thatvaluable.
The mintage was at a hundred thousand pieces. My friend has the $100 legal tender version. The weight of the 1975 is slightly less than seven gram. It is not even investment grade gold. The fineness if just 90% pure gold.
Investment grade usually refers to a purity of 99.9% and above.
The more valuable gold coin is the 1969 Singapore gold coin. That gold coin was minted to commemorate the founding of Singapore.
It is also known as the Lighthouse gold coin. The denomination of the gold coin is $150 for the 150th Anniversary of the Founding from 1819 to 1969. The purity of the gold coin is at 91.6 per cent. This gold coin is bigger than the 1975 Singapore gold coin. The weight is about 25 grams.
The selling price ranges from S$1,200 to
Fortunately, my friend has this 1969 Singapore gold coin in his collection.
It is a pity that he does not have the investment grade gold coins issued by Singapore Mint in the 80s.
These gold coins are 99.99% pure gold.
One good example is the 1987 Year of Rabbit gold coin. The gold coin is 1 oz in size. That is why the value of the gold coin follows the spot rate of gold.
It is better than the Numismatic value of the gold coins which are not of investment grade.
While the value of Numismatic gold coins is usually higher than the international spot price of gold, it is relatively harder to sell.
The selling price depends on negotiation between the two interested party. That is why the value differs.
If the gold coin is of investment grade, and follows the spot price, it is easier to set a targeted buy or sell price.
You can simply mark up by a margin of ten to twenty per cent.
It is too bad that my ancestors did not see the wisdom of buying gold coins minted by Singapore Mint. It would be a very valuable inheritance.