Gold coins, as opposed to rare gold coins, are simply currency pieces made of gold. Their value is primarily based upon the current spot price of gold. Rare gold coins, on the other hand, are not just valued for their gold content, but also their relative scarcity in the market.
An example of a gold coin currently in production and available for sale is the renowned Vienna Philharmonic gold coin that is produced by the Austrian Mint. This gold coin is 24 karat gold and comes in one ounce, half-ounce, quarter-ounce, or tenth-ounce sizes. The United States Mint also produces a 24 karat gold coin, the American Buffalo, which has a face value of $50. The low denomination value printed on these coins does not represent their true worth as gold, but the fact that they are imprinted with a value means that they are technically legal tender. This classification as legal tender is helpful for tariff and tax reasons when crossing borders.
Rare gold coins are uncommon gold coins that are not widely available. These are exclusive coins to possess. Coins minted in low volumes are worth more than those that had a large mintage. An example of a rare gold coin would be a three dollar gold piece from the last half of the nineteenth century, which was made out of 90 percent pure gold and 10 percent copper. It would cost hundreds of thousands of dollars to complete a set of these three dollar gold pieces. Certified rare gold coins are for those who are committed to numismatics as serious investments.