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Wednesday, 13th May 2009 (1165 views)

A new US service has been launched by First State Depository and Numismatic Guaranty Corporation (NGC) to provide certification for coins, particularly proof gold American Eagles.

Designed for investors who want to purchase the precious metal through their Individual Retirement Arrangement (IRA), the scheme offers proof of authenticity as well as packaging designed to protect the item.

Coins are given an identification number and bar code linked to the NGC website, along with the fineness measurement, weight and description.

NGC will not be grading the coins, but the additional proof of authenticity could provide investors with greater confidence in gold.

Proof American Eagle coins are specifically permitted as part of an IRA by the US Internal Revenue Service.

Meanwhile, The Royal Mint in Britain has increased its use of gold in order to meet rising demand from investors for the precious metal, Bloomberg reports.

 

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