The principal amount of gold mined in different countries is sold on free international or national markets, and only a small part goes to replenish the gold reserves of these countries. There are about 40 global markets for gold purchase and sale operations. The most important centers of trade are the markets of London and Zurich. Paris ranks first in Europe regarding transaction volume and Bombay in Asia's domestic needs. Firms, commercial banks, and individuals act as sellers and buyers.
In various European gold markets and other free international markets, prices are set at more or less the same level. And change mainly by the dynamics of prices in the London and Zurich markets in US dollars per troy (pharmacy) ounce.
Gold is sold in various forms, but the most common trade is in gold bars and coins. Gold of at least 995th grade is usually sold in bulk bars of 1 kg. Middle Eastern and Asian buyers are famous for "dimensional" ingots weighing 116.62 g, which are made mainly by orders of Swiss banks.
Over the past decades, the sale of gold coins on the free markets has significantly expanded. Coins of the old coinage are in great demand, including numismatic and collectible coins, which have been issued since the middle of the last century, during the gold coin standard, as well as modern coins made of mass-minted gold. The price of the currency depends on the quality.
The world centers of bullion coin trade remain Germany, the USA, Japan, and the countries of Southeast Asia. The range of coins reaches two thousand names.
If we compare the market of coins and medals with other sectors of the "gold market," it has several advantages. Firstly, this market has been around for a long time. Secondly, coins have more investment attractiveness than jewelry. They do not depend on fashion and are not subject to significant price fluctuations. Coins are relatively more liquid. Their prices are close to the costs of the metal contained in them.