What is 24k Gold? Where to Buy and How to Determine Purity?

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Last Updated on: 4th January 2023, 08:17 pm

24k gold (also known as 99.9% gold) is a type of gold that is considered highly pure, meaning that it is made up of only gold and does not contain any other metals or alloys. It is the highest karatage of gold, with 24 out of 24 parts being gold. Because it is so pure, 24k gold is very soft and is not typically used to make jewelry or other decorative items. Instead, it is often used in the production of gold coins, medals, gold ingots/bars for investors, and other items where purity and value are important.

On the other hand, gold with a lower karatage, such as 18k, 14k or even 10k, is often used to make chains, necklaces, rings, bracelets, and other jewelry items because it is more durable. Gold at a lower karatage can also be molded into a wider range of shapes and designs without compromising on sturdiness.

Popular 24k Products

1. Gold coins: Many gold coins are made of 24k gold, including American Gold Eagles, Canadian Gold Maple Leafs, and Chinese Gold Pandas. These coins are often collected for their value and beauty.
2. Gold bars: Gold bars are made of pure gold and are often used as an investment. 24k gold bars are available in a range of sizes, from small ones that are a few grams in weight to larger ones that weigh several ounces.
3. Gold jewelry (rare): While 24k gold is not commonly used to make jewelry because it is too soft, some pieces of jewelry, such as rings and pendants, may be made of 24k gold. These pieces are usually made as collector's items or as gifts.
4. Gold leaf: Gold leaf is very thin sheets of gold that are used for decorative purposes. It is often used to gild objects, such as picture frames or statues, or to decorate cakes and other baked goods. Gold leafs are typically made of 24k gold.
5. Gold bullion: Gold bullion refers to gold that is in the form of coins or bars and is generally used as an investment. 24k gold bullion is available in a variety of shapes and sizes, and is often bought and sold based on the current market value of gold.

Gold Coins & Bars that are Certified to be 24k (or 99%+)

The following gold coins and bars are guaranteed to be 24k or 99%+ gold, as they are produced by reputable mints like the US Mint, the Royal Canadian Mint, Credit Suisse and other trusted names.

The American Gold Eagle Coin

The American Gold Eagle is a gold bullion coin produced by the United States Mint. It was first issued in 1986 and is available in four denominations: 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. The coin is made of gold alloy that is 99.5% pure (or 24k), with the remaining 0.5% being made up of copper and silver. This gives the coin a durable and long-lasting finish.

The front (obverse) of the coin features a design based on Augustus Saint-Gaudens' 1907 gold double eagle coin, which depicts Lady Liberty holding a torch and an olive branch. The back (reverse) of the coin features a design by Miley Busiek that shows a male bald eagle returning to his nest with an olive branch in his talons, with a female bald eagle and their hatchlings in the nest.

The American Gold Eagle is popular with collectors and investors due to its gold content and the backing of the United States government. It is also widely recognized and accepted as a form of currency. The coins are produced at the West Point Mint and are available in both uncirculated and proof versions.

The Canadian Gold Maple Leaf Coin

The Canadian Gold Maple Leaf is a gold bullion coin produced by the Royal Canadian Mint. It was first issued in 1979 and is available in four denominations: 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. The coin is made of gold that is 99.999% pure (Five nines). The coin's high purity makes it one of the purest gold coins in the world, according to Wikipedia.

The front (obverse) of the coin features a portrait of Queen Elizabeth II, while the back (reverse) features a depiction of the maple leaf, which is a symbol of Canada. The coin also includes a micro-engraved laser mark that includes the coin's weight and purity.

The Canadian Gold Maple Leaf is popular with collectors and investors due to its gold content and the backing of the Canadian government. It is widely recognized and accepted as a form of currency. The coins are produced at the Royal Canadian Mint and are available in both uncirculated and proof versions.

The Credit Suisse Gold Bar

Credit Suisse gold bars are a type of gold bullion produced by Credit Suisse, a Swiss bank and financial services company. They are available in various sizes, including 1 oz, 10 oz, and 1 kilogram, and are made of gold that is 99.99% pure.

Unlike bullion coins who tend to have fancy designs and textures, gold bars are very basic. No fancy designs means lower production costs and lower premiums charged to the investor. Credit Suisse gold bars feature the Credit Suisse logo and the weight and purity of the bar on the front, along with a unique serial number for identification. The back of the bar is blank.

Credit Suisse gold bars are popular with large investors due to their high gold content and the reputation of Credit Suisse as a reliable and trustworthy company. They are widely recognized and accepted as a form of currency and are often used as a way to invest in gold. Credit Suisse gold bars are produced at the company's refineries and are available in both uncirculated and proof versions.

The Valcambi Gold Bar

Valcambi is a precious metals refiner based in Switzerland. The company produces a range of gold bars, including cast and minted bars in various sizes. Valcambi's gold bars are known for their high quality and purity, and are popular among investors and collectors.

Valcambi also produces the CombiBar, a unique bar that allows you to break it into small squares, like a chocolate bar. This bar is meant for those that foresee a future where gold will become currency again. Paying for day-to-day expenses with a small square broken off from your CombiBar is easier and more convenient than paying with a large 1-pound gold bar.

Valcambi gold bars are made from gold that has been refined to a purity of 99.99%, or 24k. They are available in a variety of sizes, ranging from 1 gram to 1 kilogram. The bars are individually serialized and come with a certificate of authenticity. They are also stamped with the Valcambi logo, the weight and purity of the gold, and the serial number.

Johnson Matthey Gold Bar

Johnson Matthey is a precious metals refiner and technology company based in the UK. The company has a long history dating back to the early 19th century and is known for producing high-quality gold, silver, and platinum products.

One of the most popular products produced by Johnson Matthey is a range of high-purity gold bars. These bars are made from gold that has been refined to a purity of 99.99%, or 24k. They are available in a variety of sizes, ranging from 1 gram to 1 kilogram. The bars are individually serialized and come with a certificate of authenticity. They are also stamped with the Johnson Matthey logo, the weight and purity of the gold, and the serial number.

Johnson Matthey gold bars are a popular choice among investors and collectors due to their high quality and purity. Like other gold bars, they offer a convenient and reliable way to own and store physical gold in a compact, easily transportable form. Gold is often seen as a safe haven asset, and investing in gold bars can be a way to diversify an investment portfolio and hedge against economic and political uncertainties.

Want to learn more about 24k gold bars? Check out our most popular gold bars for investors post if you want to learn more about the best bars to add to your investment portfolio.

Note: did you know that you can invest in many of these products through an IRA or 401k? That's right, the IRS allows gold bars and coins that are 24k or 99.5%+ gold to be held within a retirement account, for those interested in diversification against paper assets. We recommend that you contact one of the Gold IRA companies we reviewed if you want to learn more.

Where to Buy 24k Gold?

There are a few different places where you can buy 24k gold:

1. Jewelry stores: Many jewelry stores carry a selection of gold jewelry, including pieces made of 24k gold. You can visit a store in person or browse online to find a variety of options.
2. Gold dealers: Gold dealers are specialists in buying and selling gold. They may have a selection of 24k gold coins, bars, or other items available for purchase.
3. Pawn shops: if you go to a local pawn shop, you likely will come across some 24k gold items. However, it's tricky to ensure that the items you're buying are truly 24k gold. Also, you likely will be paying the highest premiums above spot price. Also, if you buy coins or bars from reputable mints, the coin should guarantee a minimum gold purity of 24k or 99%.
4. Online marketplaces: Several online marketplaces allow you to buy and sell gold, including eBay and Etsy. You may be able to find a variety of 24k gold items for sale on these sites.
5. Bullion dealers: Bullion dealers are companies that specialize in the sale of precious metals, including gold, for investment purposes. They often have a selection of gold bullion bars, bullion coins, and other items available for purchase, including 24k gold. Dealers generally refer to their gold bullion as 99.9% pure instead of 24k. Some mints, like the Royal Canadian Mint, sell coins and bars that are certified to be 99.999% pure, the highest standard in the industry.

We recommend that you check out Silver Gold Bull, one of the largest gold retailers in the world. They have a best price guarantee on their gold bars, and claim to have some of the lowest premiums in the industry. As always, do your due diligence and shop around to find the best prices for your bullion. (Disclosure: we have an affiliate relationship with Silver Gold Bull, so we do receive commissions if you purchase through our link)

It is important to be cautious when buying gold, as the market can be volatile and there are many scams and fraudulent activities that can occur. It is a good idea to research the seller and the item you are interested in purchasing to ensure that you are getting a fair price and a legitimate product. Also, please speak to your financial advisor before making any investment decision, and remember that all investments come with a certain degree of risk. Lastly, past performance isn't indicative of future returns, so invest wisely.