Early U.S. Gold Coins Are The Most Prized Rare Coins

Gold coins have been one of the most popular forms of legal tender since ancient times. The Egyptians first introduced gold coins around 2,700 BC, although these coins were primarily used as gifts.

While the first United States gold coins aren’t quite that old, they’ve became one of the most sought after, highly treasured coins for rare coin collectors.

In fact, gold coins make up the largest percentage of the rare coin market. And, for good reason, gold coins offer everything that a serious coin collector looks for! Gold coins offer eye appeal, historical significance, rarity and are great investments!

United States gold coins were minted for commerce in the U.S. and overseas up until 1933. Minting numbers varied from just a few hundred of one coin to millions of other coins being minted that totaled up to over 100 million coins. But, it’s estimated that only around 5% of these coins have survived!

1810 Gold Half Eagle

1810 Gold Half Eagle

Throughout the history of the United States, gold coins have been collected up by the government and melted down twice. In 1834, the value of gold content in the coins exceeded the worth of their face value. Coins were gathered and melted down to create coins with less gold content.

The depression brought on the Gold Confiscation ordered by Franklin Roosevelt in 1933 and led to the end of regularly issued, legal tender gold coins in the United States. During the depression, gold was hoarded in large quantities and resulted in the change in gold standard for coins.

The confiscation comprised of around 95% of all the gold coins in the possession of banks, individuals and what gold coins that the U.S. Treasury held. The coins were collected and melted down to be poured into dies to create 100 and 400 ounce gold bars.

However, President Roosevelt’s order contained and exemption that very few people knew about. Any gold coins that were of special value to rare coin collectors were exempt from the meltdown. Since, most people were unaware of this loop hole, many of the coins from old collections were handed over to be transported to the melting pot!

These two events have served to make United States gold coins not only highly collectable for their historical value and beauty, they’re excellent long term investments. Their rarity can make them almost priceless, since professional dealers and serious collectors seek out coins that very few other collectors own.

Three coins were created from an act of Congress in 1792 that established the first U.S. mint and regulated coins. These coins were the eagle with a face value of $10, the half eagle worth $5 and the quarter eagle that was worth $2.50. Gold coins were made with mixture of 91.67% of 22K gold and alloyed with both silver and
copper.

The value of any coin is determined by many factors, age, condition, rarity and even the number of coins that were minted all makeup the value. In 2002, a rare 1933 Double Eagle $20 gold coin sold for over $7.5 million giving it the honor of being the most valuable coin that had ever been sold up until that date.

Written by Connie Corder, Copyright 2009 CoinCollectorGuide.com



Comments

One Response to “Early U.S. Gold Coins Are The Most Prized Rare Coins”
  1. bonnie says:

    I INHERITED A 1904 GOLD $20 GOLD PIECE ENCASED IN A SOLID PLASTIC CASE.
    IT IS BEAUTIFUL. HOW CAN I FIND OUT IT”S WORTH OR HOW TO SELL IT.

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