US Mint - History of Gold Coins

U.S. Mint Gold Coins History Inside This Report

Inside This Report

The United States Mint issued the first gold coins in 1795. The U.S. Dollar Value was set at 24 grains of gold, based on the world price of gold at $19.39 per troy ounce (480 grains). As the Western Frontier expanded, U.S. gold coins were struck at seven different mints from Philadelphia to San Francisco. Sizes ranged from a $1 gold piece up to the $50 denomination. Back then, money was "worth it's weight in gold" no more, no less.

Congress changed the gold specification in 1834 and 1837 when it set the price of gold at $20.67 per ounce. In 1933, during the height of the Great Depression, President Roosevelt made it illegal for U.S. citizens to hold gold. He ordered all gold coins removed from circulation and returned to the U.S. Treasury where millions were melted into gold bars. The value of the U.S. Dollar was then adjusted from $19.75 per ounce to $35 per ounce. The worldwide effect was to devalue the buying power of the dollar over 40%.

After the great gold recalls and meltdowns, millions of previously common Gold Coins suddenly became very rare and difficult for collectors to obtain at all. Today, the total surviving Pre- 1933 U.S. gold coin supply is fixed and extremely limited. Experts estimate that less than 1% of those coins have survived the test of time. Consequently, each one is highly prized by both rare coin collectors and investors.

Each U.S. gold coin minted before 1933 is individually valued based on its date, rarity, appeal among collectors, and state of preservation known as the grade.

The Value of Rare Coin Grading
Rare coins are graded on the American Numismatic Association scale from 1 to 70. They are certified authentic and graded by two of the leading grading services PCGS or NGC. A gold coin with a grade of 1 has a barely recognizable date, extreme wear and is worth little more than its weight in gold or precious metals. The better preserved the condition of an old coin, the more a serious collector is willing to pay for the privilege of owning it. In the past, the highest graded coins or the rarest coins have outperformed the lower grades and more common dates.

At Austin Rare Coins, we often recommend Pre- Civil War dates in grades ranging from Extremely Fine condition of XF-40 and up. Gold coins grading MS-60 to a perfect MS-70 are said to be in "Mint State" Brilliant Uncirculated condition. These coins exhibit no signs of cleaning or wear on the surfaces. The fewer bag marks and scratches, the higher the grade of a coin up to MS-70. The Importance of Owning US Mint Double Eagles

Collectors often start a Pre-1933 U.S. Gold Coin Collection with the $20 Double Eagle sizes. The Liberty series was minted from 1849 to 1907. In 1907 the Double Eagle was changed completely by the U.S. Mint to the Saint-Gaudens designs which were issued from 1907 to 1933. The Double Eagles are a great way to get started for several reasons: "Pure Gold Content" Each one contains nearly one troy ounce of gold (.96750) and common dates can be acquired in mint condition for under twice today's price of gold.

"A Double Profit Opportunity" In a rising gold market, $20 Double Eagles have a history of going up in value 2 to 3 times higher in value than the price of gold bullion alone. Coin dealers often refer to this as the "Double Profit" opportunity in Pre-1933 gold.

Why Expert Advice Is So Important
Austin Rare Coins specializes in U.S. Gold coins minted from before the Civil War into the Wild West Frontier Days through 1933. Our Austin Buying Trust is known worldwide as a leading authority on Rare Date Pre-1933 U.S. Gold. Our team of experts attend private showings, exclusive auctions, and every major U.S. coin show acquiring coins for our Preferred Collectors. We will give you the best information on gold and US coin prices.

Due to the complexity of buying rare U.S. coins, no individual collector alone would have the buying clout or first pick of the finest Pre-1933 U.S. Gold Coins like we have.; There are a number of trade secrets that make doing business with us especially unique. First, we always seek coins with rarity. We identify with the unique benefits of each rare coin and it's place in the market. Finally, we focus on "value investing" which means we search and acquire exclusively rare coins that have exceptional eye appeal for the grade and ones we feel are presently under valued in the market and poised for excellent upside potential.

We completely avoid coins that are cleaned, spotted, and have distracting scratches. While collectors may trade these low-end coins on the Ebay and over the Internet at lower prices, we feel these coins have no place in a serious investor portfolio and have a minimum of long-term profit potential. Please beware of coins that are often misrepresented online by novice collectors or unscrupulous dealers. Price always has a relationship to the true value of a coin.

Where Should You Buy Rare Coins?

We highly recommend buying only from a reputable firm like Austin Rare Coins.

We've served investors and collectors since 1989 and depend on our unblemished reputation for honesty.

Austin Rare Coins is a member of the Professional Coin Grading Service, the Numismatic Grading Corporation, the American Numismatic Association, and we support I.C.T.A., the Industry Council for Tangible Assets

While no one can guarantee that any investment, including U.S. gold coins will go up in value, our expert advice can position your portfolio. Please keep in mind that Rare U.S. Gold coins aren't for everyone. We typically recommend a minimum holding period of three to five years or longer.

What Rare Coins Offer You

Complete Privacy - We do not report your rare coin transactions to any U.S. Gov't agency or anyone else.

Coins Offer Leverage Over Gold - Rare Coin offer outstanding leverage over the gold market alone.

Growing Coin Demand - We see strong demand in the coming years from the 125 million new coin collectors who are just getting started collecting the new Statehood Quarters.

Balance and Diversification - Pre-1933 U.S. gold coins add balance and diversity to your portfolio. In addition, U.S. Rare Coins can easily be handed down from generation to generation.

Immediate Liquidity - Classic U.S. Rare Coins are easier than ever to sell thanks to the internet. While we would like the first option to purchase any coin we've sold to you, there's also a large network of coin dealers worldwide who trade millions of dollars daily, sight unseen, in an electronic dealer-to-dealer trading network.