A bullion coin is bought and sold mainly for its metal. A certified coin has been independently graded for condition and sealed in a tamper-evident holder, and is bought partly for that grade and rarity. Both can contain exactly one ounce of gold; their prices can be far apart.
The price is the live metal value plus a modest premium that covers minting, distribution and the dealer's margin. Premiums are low and predictable, and the coins are easy to sell back because the market only really cares about the metal.
A grading company such as NGC or PCGS assesses the coin and encapsulates it with a grade like PF70. Condition, mintage and demand now drive the price, so the premium over metal value is larger and more variable. Resale depends on finding a buyer who wants that specific coin in that grade.
This is general information, not advice on what you personally should buy.
Last reviewed 1 August 2026. General information only — not investment or tax advice.