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What are US Mint Pre-1933 Gold Coins?

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In the realm of numismatics, pre-1933 gold coins hold a special place. These gleaming pieces of history are valuable precious metal assets and windows into a fascinating era. With their unique designs, historical significance, and rarity, Pre-1933 US Gold Coins offer collectors and investors a glimpse into the past and a tangible connection to the stories of our ancestors. This article will delve into Pre-1933 US Gold Coins, discussing their historical significance, investment potential, and the difference between “Raw” and “Graded” coins.

What are US Mint Pre-1933 Gold Coins?

Pre-1933 US Gold Coins have an important position in US history and are strongly tied with the Gold Seizure that occurred in the early 1930s. This incident, also known as the Gold Confiscation, marked a watershed moment in the country’s monetary policy and had a long-lasting impact on how the government and its citizens viewed gold.

These coins are available in various values and designs, each representing a distinct epoch in American history. Some famous examples include the 10 Gold Eagle, 20 Gold Double Eagle, Liberty Gold Coin, Incuse Gold Indian, 2.50 Gold Coin, and 5 Half Eagle Gold Coin. These coins were widely used as currency during their time of circulation. Each denomination carries its own unique characteristics and historical context. For example, the $20 Double Eagle is the largest denomination, while the $2.50 Quarter Eagle is the smallest.

Are Pre-1933 Gold Coins Valuable?

Pre-1933 US Gold Coins are highly valued for several reasons. Firstly, their gold content gives them intrinsic value based on the current price of gold. Gold has long been considered a haven asset and a store of value, which makes these coins inherently valuable from an investment standpoint.

Additionally, these coins’ scarcity and historical significance contribute to their worth. The US government recalled most gold coins in 1933 as part of a national effort to stabilize the economy during the Great Depression. As a result, many of these coins were melted down, making the surviving specimens even rarer and more desirable among collectors and investors.

Do Pre-1933 Gold Coins Have Numismatic Value?

In addition to their intrinsic gold value, Pre-1933 US Gold Coins often have numismatic value. Numismatics is the study and collection of coins, and numismatic value refers to the worth of a coin based on factors such as rarity, condition, historical significance, and desirability among collectors.

Certain Pre-1933 US Gold Coins, especially those in above average condition or with unique features, can command premiums far beyond their gold content. For example, coins with low mintages, coins from specific years or mints, or coins in exceptional states of preservation may have a numismatic value that exceeds their bullion value. The numismatic market for these coins is robust, with collectors and enthusiasts eager to acquire these pieces of history.

What is the difference between “Raw” & “Graded” Gold coins?

When discussing Pre-1933 US Gold Coins, you may come across the terms “raw” and “graded” to describe their condition and authenticity.

Raw gold coins are coins have not been graded by a third party grading services. These coins are typically bought and sold based on their bullion content, historical significance, and overall appearance. Raw coins may vary in condition, and their value is often subject to the buyer’s interpretation and the market’s sentiment. It’s common to find

Graded gold coins, on the other hand, have passed a thorough review process by expert coin grading agencies. Before providing a grade on a specified scale, these agencies evaluate a coin’s quality, authenticity, and other characteristics. The Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) are two of the most well-known grading firms.

Graded coins are encased in a protective plastic holder known as a slab, which displays the coin’s grade and other relevant information. The grading procedure gives the coin’s condition legitimacy and transparency, making it easier for buyers and sellers to establish its value.

While raw coins offer more flexibility in pricing and personal interpretation, graded coins provide a standardized assessment and greater confidence in a coin’s authenticity and condition.

Pre-1933 US Gold Coins combine historical relevance, intrinsic worth, and numismatic appeal. Their gold content, rarity, and age add to their value, making them an appealing investment option for gold and numismatic enthusiasts. Investors can explore the potential rewards of owning these magnificent pieces of American history by knowing the market, interacting with trustworthy dealers, and considering issues such as coin condition and storage. Pre-1933 US Gold Coins are tangible memories of a bygone period, whether for their gold investment potential or numismatic worth.

How to Invest in Pre-1933 Gold Coins?

Investing in Pre-1933 US Gold Coins can be thrilling and potentially lucrative. If you’re thinking about adding these currencies to your investment portfolio, bear the following points in mind:

Educate Yourself

Learn about the many sorts of US Mint Pre-1933 Gold Coins, their historical significance, and the variables that influence their value. This knowledge will allow you to make more informed judgments when purchasing coins.

All Pre-1933 gold coin prices fluctuate based on the gold weight. Raw gold coins are available in a variety of grades that carry common definitions across the numismatic and coin collecting industry. These include terms like “very fine”, “brilliant uncirculated”, “almost uncirculated”, etc and are often abbreviated with their initials.

However, coins in better conditions, especially those that have been authenticated and graded by third-party grading services, typically have an additional numismatic value as well. Even coins that have been circulated or cleaned will have numismatic value due to the rarity and historical value.

Determine Your Budget

Set a budget that aligns with your investment goals and financial capabilities. Pre-1933 US Gold Coins have a wide range in price, with much of the price based on the gold value.

The smaller denominations like the $2.50 Quarter Eagle and even some $1 gold coins can make an affordable entry point for new collectors.

The middle denomination include $5 Half Eagle and $10 Eagle gold piece.

Larger coins, like the $20 Double Eagle contains 0.9675 troy-ounceĀ of fine gold and are priced comparably with 1 oz coins.

With gold prices increasing, it’s essential to establish a precise spending plan. Many online bullion dealers offer a random year selections based on available inventory. These include both raw or ungraded coins, as well as those encapsulated coins by NGC and PCGS that can be purchased by its grade on the Sheldon Scale.

Choose a Reputable Dealer

When purchasing Pre-1933 US Gold Coins, working with a trusted and reputable dealer specializing in gold coins is vital.

There are a variety of online source to research and verify each dealers’ credentials, such as previous customer issues filed with the BBB. There are a variety of third party review services like TrustPilot and other that can be a helpful source of information. Keep in mind that most people are more inclined to post reviews when they’re unsatisfied.

FindBullionPrices.com tracks gold coin prices from dozens of trusted and reputable online bullion dealers to help you find the absolute best prices.

Authenticity and Condition

Ensure that any coins you buy are genuine and authentic. Many beginning investors and collectors a prefer to start with NGC and PCGS graded coins, which provides authenticity and a grade for each coin. The coins are encapsulated into standard-sized transparent holders that allow both sides of the coin to be inspected while providing protection against damage from handling.

Additionally, these services keep a record of each coin that is reviewed by their experts and each specimen is assigned a unique number with a barcode that is permanently enclosed inside the coin holder.

Grading companies utilize Official ANA Grading Standards, which are based the Sheldon Grading Scale, which uses a 70-point assessment to determine the condition of a coin.

For example, a $20 St-Gaudens Double Eagle with a MS-66 grade is considered to be in near-perfect “Mint State” condition. Coins with an MS-66 grade are sometimes referred to as Gem Uncirculated and will haveĀ above average surface quality and will retain much of the original mint luster. There may be some minor contact marks, sometimes referred to as bag marks, along with a few light hairlines that may be visible under magnification.

Its important to trade with reputable dealers and auction houses, as there are counterfeits of every kind that appear in the market.

Diversification

Diversification is essential in any investment. To spread your risk and maximize your profits, consider amassing a diversified collection of Pre-1933 US Gold Coins, including different denominations and varieties.

Storage and Security

Properly store and secure your investment. Pre-1933 Gold Co Pre-1933 US Gold Coins ins should be kept in a secure location, such as a safe or a bank safety deposit box, to protect them from theft or damage.

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The Sheldon Scale: A Comprehensive Guide for Grading Gold and Silver Coins

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The coin grading system, known as the Sheldon Scale, has become a critical part of the numismatic world. It provides a standard for assessing the condition of both numismatic and bullion coins, significantly affecting their market value. Third party grading services widely use this system, applying it to various coins, from gold and silver coins to rarer items like Pre-1933 Gold Coins. With this guide, you will understand the background, usage, and impact of the Sheldon in numismatics.

What is the Sheldon Grading Scale?

The Sheldon grading Scale is a 70-point grading scale for evaluating the condition and quality of coins. Initially intended for large cents minted between 1793 and 1814, it has since been expanded to include all types of coins, numismatic and bullion alike.

This grading system ranges from a grade of 1, which represents a coin in poor condition (also known as “basal state”), to a grade of 70, denoting a coin in perfect, mint condition. The Sheldon Grading Scale evaluates coins based on their wear, marking, luster, color, and eye appeal. The key grades to note are:

  • Mint State (MS 60-70): No signs of wear, highest quality.
  • About Uncirculated (AU 50-58): Slight signs of wear or minor defects.
  • Extremely Fine (EF or XF 40-45): Light wear on the coin’s high points.
  • Very Fine (VF 20-35): Medium to medium-light wear.
  • Fine (F 12-15): Moderate to considerable even wear.
  • Very Good (VG 8-10): Well-worn with main features clear and bold.
  • Good (G 4-6): Heavily worn with lettering, date and figures visible but faint in spots.
  • About Good (AG 3): Very heavily worn with parts of date, lettering, etc. worn smooth.
  • Fair (F 2): Barely recognizable, may be damaged.
  • Poor (P or PR 1): Barely recognizable as to what coin it is, almost all detail worn off.

The Sheldon Grading Scale offers a unified, standardized grading system that is widely accepted across the numismatic world. It is used by professional dealers, collectors, and third party grading services to evaluate and trade graded coins.

The Sheldon grading Scale is widely used by various entities within the numismatic community. Third-party grading services are arguably the most notable users of the Sheldon grading Scale. These independent organizations, including the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC), provide expert coin grading services to collectors and dealers worldwide. They base their evaluations on the Sheldon Grading Scale, providing an unbiased assessment of a coin’s condition. These organizations also offer coin encapsulation or “slabbing” services, whereby the graded coins are sealed within clear, hard plastic cases. This helps to preserve the coin’s condition and provides an easy-to-view display. A label inside the case indicates the coin’s grade and other relevant information.

Coin dealers also utilize the Sheldon Grading Scale extensively. When buying and selling coins, dealers need to accurately determine the condition and hence the value of the coins. The Sheldon Grading Scale provides a standardized system to make this determination. For instance, a coin graded as Mint State 65 (MS 65) is more valuable than one graded as Extremely Fine 40 (EF 40). Dealers use these gradings to set prices for buying and selling coins, thus ensuring fairness and transparency in the market.

Coin collectors find the Sheldon Grading Scale invaluable for the same reasons dealers do. When adding to their collections, collectors need to know they’re getting a fair deal. A coin’s grade can dramatically affect its value, so knowing its Sheldon Grading Scale grade helps collectors make informed purchasing decisions. Additionally, many collectors derive satisfaction from acquiring high-grade coins, and the Sheldon Grading Scale provides a clear target for them to aim at.

Auction houses dealing in numismatics also use the Sheldon Grading Scale. When cataloging and listing coins for auction, the coins are often graded using this scale. This allows potential buyers to have a clear understanding of the coin’s condition, enabling them to bid appropriately. Coins graded by reputable third-party grading services often bring higher prices due to the confidence buyers have in the grading accuracy.

How does the Sheldon Scale apply to Gold & Silver Coins?

Applying the Sheldon Grading Scale to gold coins and silver coins involves evaluating various physical attributes. These include the coin’s wear, or lack thereof, the presence of any markings or damage, the luster or shine of the metal, the coin’s color, and its overall eye appeal. Each factor is meticulously inspected to assign an appropriate grade on the Sheldon Grading Scale. For instance, a coin that exhibits no signs of wear and maintains its original luster would likely receive a Mint State grade, while a coin with noticeable wear and damage would receive a lower grade.

While the Sheldon Grading Scale grading is universally applicable, its significance can vary depending on the type of coin. For bullion coins, which include many modern gold and silver coins, the value is often primarily derived from the metal content itself. Such coins are often bought and sold close to their “melt value,” the value of the precious metal content if the coin were melted down. In such cases, the Sheldon Grading Scale grading might not dramatically influence a bullion coin’s value, although some collectors still appreciate and seek out high-grade bullion coins.

On the other hand, numismatic coins, including rare and historical items like Pre-1933 Gold Coins, greatly depend on the Sheldon Grading Scale for valuation. Because these coins are valued for their rarity, historical significance, and condition, a high Sheldon Grading Scale grade can significantly increase their value. Therefore, collectors and dealers pay keen attention to the Sheldon Grading Scale grading when dealing with numismatic coins. Coins that have been graded and authenticated by a respected third-party grading service often command higher prices in the market, thanks to the added assurance of their grade and authenticity.

Who was Dr. William H. Sheldon?

Dr. William H. Sheldon was an American psychologist and numismatist who left a significant imprint on the world of coin collecting. Born in 1898, Sheldon is most famous for developing the Sheldon Grading Scale for grading coins, a system that revolutionized numismatics and is still in use today. Beyond his contribution to coin grading, he was also a notable figure in the field of psychology, where he proposed the theory of body types known as somatotypes. Despite his controversial theories in psychology, his contribution to numismatics is universally recognized and appreciated. His creation of the Sheldon Grading Scale was a pioneering effort in bringing a standardized grading system to coin collecting, significantly impacting how coins are evaluated and traded.

What role did Dr. William H. Sheldon play in 20th century numismatics?

In the realm of 20th-century numismatics, Dr. William H. Sheldon played a pivotal role in his development of the Sheldon Grading Scale. Before his intervention, there was no standardized, universally accepted system for grading coins. This lack of uniformity made it difficult for collectors and dealers to accurately value and trade coins. Sheldon introduced his scale in the 1940s, primarily for the grading of early American cents, but the system’s usefulness quickly led to its adoption for all types of coins. The Sheldon Grading Scale effectively revolutionized the field of numismatics by providing a common language to describe a coin’s condition.

Moreover, Dr. Sheldon’s contributions extended beyond just the creation of the grading scale. His book, “Penny Whimsy,” which outlines the Sheldon Scale in detail, is considered an essential read for serious coin collectors and dealers. His efforts, along with those of others in the numismatic community, led to the emergence of third-party grading services, which brought further standardization and credibility to the grading process. These services use the Sheldon Scale as a foundation for their grading, ensuring the system’s continued relevance and influence in numismatics. The legacy of Dr. Sheldon’s contributions continues to shape the world of coin collecting and trading to this day.

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Zimbabwe Sells $14 Million in Gold-Backed Digital Tokens

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Zimbabwe 1 oz gold coin

The Zimbabwean economy is no stranger to hyper-inflation. In 2009, the country adopted the USD as an official alternative to their local currency which helped to stabilize prices for a while.

The economy in the landlocked nation in the southern zone of Africa is based on natural resources and the country’s largest export is gold. In a sense, the economy of Zimbabwe is like a canary in a coal mine and can give investors of a sense of the direction things are heading at home.

Inflation set in again in recent years and the country’s leaders are looking to step away from the USD in favor of gold. The initial launch of the country’s gold-backed digital currency The token’s initial offering is backed by 140 kilogram gold bars that have been allocated from central bank reserves.

The offering Zimbabwe caused a ruckus with some international lenders, with the IMF issuing a statement reminiscent of the outrage posited against El Salvador when it established bitcoin as a legal currency began issuing bitcoin bonds.

A major announcement about a gold-backed basket currency is expected from the BRICS conference in South Africa in August. The BRICS gold-backed currency will offer emerging nations greater opportunities to flourish without being dependent on the dollar currency for settling cross-border transactions.

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20 Francs – A Fractional Gold Coin Ideal for Investing

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Fractional gold coins are a great way to invest and provide a less expensive and practical way to accrue and stack gold.

Having a portion of savings set aside in precious metals can help provide a stable safety net or hedge against inflation and other investments.

Most countries throughout the world utilized currency coinage that was minted of silver and gold throughout the 1800s and into the early 1900s. The French Franc currency played an extensive role throughout the era and around the world.

The Latin Monetary Union (LMU) was a trade treaty signed by numerous European countries in 1865 that established the franc as a unified common currency based on the gold standard that helped to shape global trade for many decades. The treaty thrust the 20 francs gold coins into a role as a fundamental coin of merchant trade. A role it played for nearly one hundred years.

Each member nation began minting gold coins to the same standards to circulate for international merchant trade. All 20 francs gold coins are minted with planchets created from an alloy of 90% gold and 10% copper. The coins are each 21 mm in diameter with an overall gross weight of 6.45 grams.

The actual gold weight in each 20 francs coin is 5.80 grams, the equivalent of .1867 troy ounces. A stack of five of these coins is almost an ounce of gold.

These are one of the most popular gold bullion coins for investors. Vintage gold 20 francs are government minted coins that are today sold as bullion for their intrinsic value. These are often the cheapest gold coins available and are perfect for stacking.

Below is a brief description of some of the coins that were minted by France from the early 1800s until the early 1900s.

The era in the history of France commonly referred to as the Napoleonic Wars and lasted from 1803 until 1815, led by Emperor Napoleon I. At the height of his power, the emperor and his vast armies had taken control of much of mainland Europe. The First French Empire spanned from the eastern shores of Spain to the southern tip of Italy, all the way to the borders of Russia.

Napoleon had an extensive impact on the lands he conquered, improving and modernizing society through liberal reforms. Along the way, the wars brought vast amounts of gold into the French Empire and most of it was minted into 20 francs gold coins.

Napoleon I 20 Francs

Napoleon I brought sweeping reforms throughout the country, and helped France win significant military victories, eventually being granted the title of Emperor of France in 1804.

There is a broad variety of 20 francs gold coins that were produced bearing portraits of Napoleon, across dozens of mints throughout the France, Italy and even as far away as the Netherlands.

The 20 francs gold coins minted from 1804 until 1814 feature a leftward facing portrait of Napoleon Bonaparte.

Bullion coins from this era can have a mix of obverse design as various portraits and titles were used throughout these years. The coins you receive when buying Napoleon I 20 Francs Gold coins are chosen at random from available inventory and could be from mix of years and mint marks.

The early coins featured a young Napoleon with hair cropped wavy and long that was carved by Pierre-Joseph Tiolier, General Coin Engraver from Paris. The first coins include the title Premier Consul inscribed surrounding the portrait. This was later updated to read “Empereur”.

Louis XVIII 20 Francs

Following Napoleon’s second exile from France, King Louis XVIII reigned from 1815 until his death in 1824. The gold coins minted during this era had a right facing effigy bust of Louis that was modified in 1816 to remove the appearance of the military dress uniform.

The nude bust variation is the most common coin to find amongst random year Louis XVIII 20 francs gold coin.

The coins feature inscriptions on the front that include the name of King Louis XVIII, along with his title “ROI DE FRANCE”. The mark for the artist and engraver is incorporated below the portrait.

The reverse side of these coins contains a simple wreath motif that shows the face value and year-date of minting.

Charles X 20 Francs

Charles X 20 Francs gold coin

The reign of King Charles X last from 1824 until 1830. During the short reign lasting just six years, the king lost popularity amongst the liberals of French society.

The conservative policies directed from his regime are largely responsible for leading to the July Revolution which deposed the ruler and put in place his more liberal cousin, King Louis Philippe I.

The portrait was engraved by medalist and sculptor Auguste-FranƧois Michaut with the obverse engraving bearing his name and title reading “CHARLES X ROI DE FRANCE”, which translates to “Charles X King of France”.

Roughly 1.5 million Charles X 20 francs gold coins were produced with this design across four French mints.

Louis Philippe I 20 Francs

Louis Philippe I was nicknamed the “Citizen King” and served as the King from 1830 until 1848. Under his reign, known as the July Monarchy, the French economy was dominated and largely influence by wealthy industrialists and bankers

Louis Philippe expanded relations with Great Britain and sponsored colonial expansion, most notably with the acquisition of Algeria.

This king was considered a repressive ruler following his brother’s reign and many at the time felt him to be an illegitimate king. Many uprisings occurred in France throughout the 1830s, Louis-Philippe clamped down on dissent and gained a reputation for supporting the interests of the rich.

Many of the poorer class of citizens grew resentful and Louis-Philippe escaped from eight assassination attempts before he finally fled to England.

During his 18 years in power, the more than six million Louis-Philippe 20 Francs gold coins were minted at various minting facilities throughout the country. The obverse bust portrait was created by engraver Joseph-FranƧois Domard. The reverse depicts the crowned coat of arms enwreathed with the year-date of minting and legal-tender face value of 20 Francs.

Napoleon III 20 Francs

Napoleon III was President of the Republic of France from 1848 to 1852 and remained the last monarch until he was deposed in 1870. During his time leading the country he focused on building infrastructure for the country, leading to growth in the industrial base, economic expansion and the creation of new banks.

The banks provided the funding for Napoleon III’s major projects, which included massive steamships to reach far away colonies and railways and canals to connect the country’s major cities and trade hubs, and the rebuilding of Paris. Funding from the banks was funneled into developing new neighborhoods that are among the most famous and prominent amongst the Right Bank, such as rue de Rivoli, OpĆ©ra, and place de l’Etoile.

Various styles of the Napoleon III 20 Francs Gold coin were minted under his reign with two similar, though notably different obverse designs that commonly circulated during this period that are frequently found when buying random 20 francs gold coins. Ā 

The first, issued from 1853 until 1860 featured a rightward facing Napoleon III that was created from a portrait by artist Jean-Jacques Barre. The portrait features a bare headed emperor. More than 135 million gold coins were minted with this design over the seven year period making it a popular coin with bullion investors. These 20 francs gold Napoleon III coins have maintained their intrinsic value for more than 150 years due to the underlying gold content.

The second 20 francs Napoleon III gold coin was minted from 1861 until the end of his reign in 1870. The coin features a similar portrait, the primary difference appears to be that the monarch wearing a laurel wreath upon his head. More than 50 million of these coins were minted during this 18 year period.

It is very common to receive these as bullion coins when buying random year 20 francs gold coins, which remain incredible popular with investors. These coins were minted in mass quantities due to the establishment of the Latin Monetary Union during this period.

Lucky Angel 20 Francs

After the second exile of Napoleon III, the country turned to focus on more domestic measure starting with the Paris Commune in 1871. The GĆ©nie coin, often referred to as the Lucky Angel gold coin, was minted from 1871 until 1898.

The obverse design for the coin was created by artist and medallic sculptor Augustin DuprƩ who was the student of the sculptor David. The French Revolution gave him the opportunity to develop his art of engraving medals for soldiers as well as various coins. The iconic image on this coin represents the Guardian Angel Genius writing the constitution fresh on a blank tablet.

20 Francs Lucky Angel Gold Coin 1871-1898

The genie is turned to the right and is writing the word ā€œconstitutionā€ on a table laid on a stone pillar. Other French cultural symbols are hidden in the design such as the cockerel, the lictor beam with the hand of justice above. The words ā€œRepublique FranƧaiseā€ are written above the angel and DuprĆ©ā€™s signature mark can be found at the bottom.

The reverse design takes some added freedom in its departure from the previous designs. The traditional wreath and denomination value remain on the reverse in the center. In addition, inscriptions were added that instill some of the cultural values of the French people, including “Liberte”, “Egalite” and “Fraternite”.

More than 95 million 20 Francs gold Lucky Angel coins were minted from 1871 to 1898, with many surviving coins available today makes it one of the most popular fractional bullion coins for investors.

20 Francs Rooster Gold Coin

20 Francs Gold Rooster

The 20 Francs Gold Rooster was minted from 1899 until 1914. It is the last of the French 20 Francs Gold coins that was intended for circulation. Over 117,000,000 gold coins were minted. The denomination (known as the Franc Germinal) was in continual use through the 19th and 20th centuries.

The obverse of the coin has a profile of Marianne, the Goddess of Liberty who is symbolic of the French Republic. She is a symbol with origins in the 3rd French Republic and is a personification of liberty and reason. Inscribed around her are the words ā€œRĆ©publique FranƧaiseā€.

The reverse displays a portrait of Le Coq Gaulois or Gallic Rooster, colloquially named Chantecler. The reverse includes the date and legal tender face value and is surrounded with the words ā€œLibertĆ© EgalitĆ© FraternitĆ©nā€, values that are still preserved in the culture of France today.

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Zimbabwe to Launch Gold-Backed Digital Currency

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central bank digital currency

Zimbabwe has had a long history of economic instability. From 2004 until 2009 the country experienced five years of hyperinflation.

During the period of hyperinflation the country had to halt the exchange of local currency to dollars due to a meteoric rise in prices.

In early 2009, the government had abandoned the local currency, instead favoring the US dollar for all official transactions.

By 2014, there were eight legal foreign currencies being used for day-to-day transactions throughout the country.

Almost ten years later, the economy is Zimbabwe is still in shambles. The Zimbabwe dollar was reintroduced in 2019. Periods of high inflation quickly followed.

In an attempt to curb inflation last year, government leaders began to issue gold coins to try to earn the trust of investors with a store of value.

The latest announcement from the African nation says that the central bank will begin to issue a digital token that is backed by gold.

The gold-backed digital is an attempt by the country’s central bank to provide a trusted hedge against the volatility of its local currency.

The country’s central bank reports holding just 350 kg of gold bars among its reserves and estimates that it will need $100 million dollars to support the digital gold token.

Royalties from the mining industry exceed $300 million dollars per year.

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2023-W Proof Gold Eagle and Buffalo Coins from the US Mint

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2023-W Gold Eagle Proof 4 coin collectors set with box (ogp) and coa

The US Mint releases proof finish versions of the American Eagle and American Buffalo coins each spring. The coins are meticulously struck using specially-prepared planchets which gives a mirror-like finish that highlights the astonishing sculpted details.

The coins are sold directly to consumers through the US Mint website. The prices that are established by the mint are much higher than the bullion issues. Proof finish coins have a limited annual mintage and are highly sought after by collectors.

Proof coins from the US Mint are also available on the secondary market through local coin stores and online bullion dealers. Resale premiums on proof finish coins are higher than bullion. Dealer Buyback prices are often a few percent above melt value for coins that are in mint state.

Some investors will ship proof-finish coins directly to third party grading companies such as NGC and PCGS while still wrapped in the original shipping box from the mint. Grading specialists from these companies will open the boxes and inspect each coin for fine details and assign a numeric grade.

The numismatic coin industry uses a 70-point scale to grade coins of all types. Developed in 1948 by Dr. William Sheldon, an American psychologist and numismatist. After decades of revisions, the scale was adopted by the American Numismatic Association in the 1970s is the industry standard today.

Graded coins with a PR-70 rating, the absolute highest, can command significant premiums on buy back, secondary market sales, and auction.

Some investors look for opportunities to make a substantial profit from the arbitrage between the initial release price and having the graded coin sold at auction or on the secondary-market.

2023-W Proof American Gold Eagle

These proof coins are struck from 22-karat gold and are issued as a numismatic version of the U.S. Mintā€™s popular bullion American Gold Eagle. However, unlike the bullion coins, each proof features frosted design elements against mirror-like backgrounds.

2023-W Proof American Gold Eagles, as well as a collection of the four coins in a set.

The size options with their corresponding denominations are shown in the table below.

Face ValueGold WeightCompositionOverall WeightDimensions
$50 Proof1 troy oz22k gold1.0909 ozt (33.931 g)32.70 mm x 2.87 mm
$25 Proof1/2 ozt22k gold0.5455 ozt (16.966 g)27.00 mm x 2.15 mm
$10 Proof1/4 ozt22k gold0.2727 ozt (8.483 g)22.00 mm x 1.78 mm
$5 Proof1/10 ozt22k gold.1091 ozt (3.393 g)16.50 mm x 1.26 mm
2023-W Proof American Eagle Denominations

2023-W Proof American Buffalo Gold Coin

James Earle Fraserā€™s Buffalo Nickel design is captured in incredible luster and brilliance on the American Gold Buffalo coins.

Proof Gold Buffalo coins showcase the native beauty of the American West and continue to be popular among both investors and collectors due to their beautiful design, 24k gold purity and high quality mirror-like finish.

The 2023-W Proof Gold Buffalo coin has an annual mintage of only 16,000 coins.

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Sales Tax When Buying Silver and Gold

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The notion of being charged sales tax when investing in precious metals is a contentious issue to some. It also represents a line in the sand between some legislators and investors. Despite the long history of gold and silver being recognized as money, many states continue to tax their citizens for the privilege of owning these metals.

Some states have no sales tax, a couple others have provisions specific to precious metals, others impose varying levels of taxation. Taxing the exchange of money, which includes gold and silver, has been a topic of debate for many years.

The recognition of gold and silver as money dates back to ancient civilizations. These metals have been used as a medium of exchange for centuries.

The private ownership of gold became outlawed in 1933. Under government orders, millions of circulating gold coins were seized from citizens and melted down. Jewelry and numismatic coins were exempt from the ban. Any person caught hoarding gold was investigated, prosecuted and imprisoned.

During the prohibition years, coin collecting was viewed by many simply as a hobby. Some savvy investors used coin collecting as a way to discretely hold and hoard gold.

Many of the coins, although valuable for the intrinsic nature of the precious metal content, were viewed as merely collectibles. Many states allow for the taxation of numismatic collectibles.

During this time coin collecting quickly grew in popularity with many investors turning their attention to numismatics that were generally exempt from the ban. Whitman’s Blue Book was first published in 1942, followed by the Red Book in 1946.

Pre-1933 gold coins play a huge role for collectors and investors alike. These historic coins are from a period of time when the US economy was backed by gold.

For today’s investors, the premiums on pre-1933 US Mint gold coins have fallen significantly in recent years. In some situations, premiums for NGC and PCGS graded collectible double eagle coins can be lower than raw specimens. With cycles of numismatic premiums rising and falling over time these coins represent a solid long-term investment that could potentially bring numismatic returns.

Also during this time several countries began minting restrike gold coins. They are basically modern “reproductions” produced by the official government mint to the same standards as when the gold standard was agreed upon.

At the time, restrike gold coins were recognized as collectibles even though they had no numismatic value. It was a clandestine way for many gold investors to transact real money during the several decades when the ban on private gold ownership was place.

Many state laws regarding precious metals were written prior to 1974, during the times when ownership, buying as a hedge, or investing in gold was still illegal. The numismatic items that were bought and sold were viewed by the states as collectibles, thus taxable under most regimes.

Currently, six states have no sales tax on any purchases: Alaska, Delaware, Montana, New Hampshire, Oregon and Wyoming. While Nevada, South Dakota and Washington have laws or rules that exempt sales tax on precious metals purchases. Utah and Arizona have recently passed legislation that exempts precious metals from state capital gains taxes.

There is a growing recognition among state legislatures to exempt gold and silver purchases from sales tax due to its worldwide recognition as money. Lawmakers are recognizing the fact that gold and silver are relevant as a store of value and a hedge against fiat inflation.

The belief that precious metals transactions should not be subject to taxation is growing among state legislatures because they are now viewed as investment and not a consumer good.

While some states have recognized the historical and economic value of precious metals and are working to eliminate sales tax on them, other states still impose varying levels of tax on such purchases.

It is important for investors to be aware of the specific tax laws in their state when considering buying precious metals. Even in states that require taxation of previous metals it is possible to find a friendly local coin store or pawn shop that will gladly accept cash for silver.

The rules related to charging sales tax on precious metals are complex and vary across the 50 states and even amongst localities.

While trends towards eliminating or reducing sales tax on precious metals are growing, more states are beginning to recognize the importance of metals as real money and the value it brings in diversifying portfolios, protecting against economic uncertainties and being a stable asset.

There are many arguments against the taxation of the exchange of money into a store of value.

  1. Double taxation: When precious metals are purchased with money that has already been taxed, it is essentially double taxation to also tax the exchange of those metals. This can make investing in precious metals less attractive, and may discourage investors from diversifying their portfolios.
  2. Decreased competitiveness: If one state taxes the exchange of precious metals and another does not, it puts the taxed state at a competitive disadvantage. Investors may choose to purchase metals in a non-taxed state to avoid the extra cost, resulting in lost revenue for the state that taxes the exchange.
  3. Economic impact: Taxing the exchange of precious metals can have a negative impact on local economies. Investors may choose to take their money elsewhere, and local precious metals dealers may suffer from decreased business. This can lead to job loss and a decrease in tax revenue for the state.
  4. Encourages black market activity: High taxes on precious metals can encourage black market activity, where transactions take place off the books and taxes are not paid. This can lead to lost revenue for the state and can make it difficult for law enforcement to track the flow of money.

In the US, gold played a significant role in the economy when the country was on some form of the gold standard until 1971. During this period, the US dollar was backed by gold, which meant that the government had to hold enough gold to cover a large percentage of the value of all the dollars in circulation throughout the world.

However, the tax-free states in the US recognize the value of precious metals and the role they play in a diversified investment portfolio.

More states are recognizing the historic nature of precious metals as a form of currency and therefore, should not be subject to sales taxes. Mississippi became the latest state to remove sales tax on silver and gold allowing citizens to protect their savings against the devaluation of the dollar.

Removing Taxes on Silver Purchases

In addition to the tax-free states, several states have recently taken steps to remove or reduce sales tax on precious metals purchases.

For example, Mississippi, Kentucky, Maine, Wisconsin, Vermont, Minnesota, Alaska, Tennessee, Maine, and Idaho have all passed laws that either exempt precious metals from sales tax or reduce the tax rate.

These legislative actions reflect the growing recognition of the value of precious metals as a safe-haven asset and store of value.

These states have recognized the importance of precious metals as a store of value and have taken steps to remove barriers to their ownership. These states have made it easier for investors to protect their wealth with these assets.

Several states have recently introduced legislation to remove or change sales tax laws regarding precious metals.

For example, Mississippi, Kentucky, Maine, Wisconsin, Vermont, Minnesota, Alaska, and Tennessee have all either eliminated or reduced sales tax on precious metals in recent years.

Idaho and Maine are also considering gold reserve laws, which will allow the state to hold gold as a reserve asset.

Texas, often taking a leadership role in guiding other states, has introduced gold-backed digital currency law as an alternative to the anticipated Federal Reserve CBDC.

The state of Texas also operates a first-of-it’s kind bullion depository which allows for the segregated storage of precious metals for both individual and institutional investors in a secure and guarded facility.

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Banking Crisis Excites Investor Demand for Silver and Gold

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Gold is money. Period. The fiat paper currency that we use for daily transactions is little more than an IOU from the government. Except with inflation, the value of fiat keep getting lower and lower.

The start of the latest banking crisis began with the failure of SVB that was quickly followed by Signature Bank. Regulators attempting to prevent bank runs put up ‘backstop’ to ensure depositors that their funds will be safe and accessible.

The current Orwellian doublespeak flaunted by the mainstream press is driven by regulators trying to convince customers that this time is different. It’s essentially a bank bailout.

The big global banks like JP Morgan and Bank of America have seen an influx in deposits as smaller regional banks continue to request emergency funds from the Fed.

Hot on the heals of this banking crisis, the Federal Reserve has announced that it will rolling out its FedNow instant payment service in July which many see as a precursor to CBDC rollout.

As the stock market continues to tumble, the latest news about Credit Suisse and from the Bank of Japan may be sending the Western world into a recession as some analyst are predicting that Russia, China and Iran are on the cusp of launching of a BRICS gold-backed currency that will unseat the dollar’s hegemony.

Over the past few weeks investor uncertainty has returned to the stock markets as retail investors pile into precious metals in volume unseen since the start of the pandemic.

Estimates of precious metals sales based on inventory data from APMEX shows record sales of both gold and silver.

Gold sales at APMEX topped 27,000 troy ounces in the past seven days. While sales of silver bullion exceeding over 1 million troy ounces in the same seven day period.

FindBullionPrices.com tracks prices from dozens on online bullion dealers, including APMEX. APMEX is one of the largest and most popular bullion dealers in the country.

As precious metals prices remain relatively low many other online dealers are reporting delays in shipping as order volume continues to rise.

Retail investors looking for deals to add to their stack can often find the best prices when buying random year or secondary market coins.

The secondary market is where previous year gold bullion coins are traded between investors and dealers. These coins may have been stored since the year they were minted or may have traded hands dozens of times. Regardless, these gold coins maintain their intrinsic value and will continue to be a store of wealth for future generations.

Stacking physical gold and silver bullion a one way to help protect the financial security of your family in ways far beyond that of trading crypto or ETFs.

First time precious metals buyers are invited to checkout the current Spot Deals page for offers from online dealers to buy silver for spot price. Gold buyers also have the opportunity to buy 1 oz gold bar at spot price.

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2023 American Liberty Gold Coin and Silver Medal

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2023 American Liberty 1 oz Gold Coin

The United States Mint released images of the upcoming release of the American Liberty Gold Coin and Silver Medal.

The new 1 oz gold coin will be minted with .9999 fine gold with a nominal face value of $100.

The silver medal will be minted with one ounce of .999 fine silver. Both are schedule for release some time this summer.

These new designs from the mint emerge from the Artistic Infusion program led by Program Designers Elana Halger and John P. McGraw along with Chief Engraver Joseph Menna.

The American Liberty product line is a new high relief series that features modern interpretations of the Liberty theme on the obverse and depictions of the national bird on the reverse.

The gold coins will be minted at the West Point Mint. While the Philadelphia Mint will strike the silver medals. Each will have corresponding mint marks prominently on the obverse.

Both are part ofĀ theĀ Mintā€™s program of American Liberty products. Commemorative coins and medals from the program are noted for their unique design where obverses (heads side) carry modern interpretations of Liberty and reverses (tails side) depict eagles.

The obverse shows a bristlecone pine, believed to be among the longest-lived life forms on Earth. In the Inyo National Forest in California is a tree referred to locally as the Methuselah Tree that is verified to be 4,854Ā years old. It is believed to be the oldest living thing on earth highlighting the resilience of this species to survive cataclysmic changes and repopulate the land in areas affected by lava flows and glacial runoffs.

The reverse depict a young bald eagle standing atop a rocky outcropping preparing to take flight.

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Understanding Investment Grade Gold Coins

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vintage gold coins

While ETFs like SLV and GLD may help balance out your stock portfolio, the crypto markets continue to raise anxiety for investors, tucking away some gold coins in a discrete location can give you financial security and peace of mind. Gold Coins are an investment that you want to hold and it’s a wise idea to have a stack.

A key concept to understand is that gold ownership is a store of wealth. When you buy coins minted of precious metals you are transferring your hard-earned fiat currency into a physical asset. The value of gold is driven by the commodities markets, central bank buying and its innovative use by industry.

Which Gold Coin is Ideal for Stacking?

All major gold bullion coins that are manufacturered by government backed mints are widely recognized worldwide. While the full one troy ounce of gold coin is the most popular, various fractional ounce sizes are available for investors of all budgets.

The allure and luster of pure 24k gold is part of what draws investors to some coins. They prefer the beauty, color and the way pure gold reflects light.

Other investors have a preference for stacking coins that are more practical and made for the rigors of circulating in the economy. Modern and vintage 22k gold coins contain an alloy that incorporates other metals for durability and scratch resistance when handling.

The prestigious 1 ounce Gold American Buffalo from the US Mint is one of the best selling pure gold coins. This coin is highly revered for the immaculate detail in the design. However, the Gold Maple Leaf, Britannia and a variety of gold coins from the Perth Mint are also the same purity and often available for a significantly lower price from one or more online bullion dealers for the same amount of gold.

Modern Gold Coins

The US Mint produces millions of gold coins each year in the Eagle and Buffalo series’ plus a variety of commemorative issues that highlight and celebrate American values and culture.

Various laws passed by Congress require that the US Mint to charge wholesalers a premium over spot price to cover the costs of manufacturing, marketing, sales and distribution of newly minted coins. The pandemic lockdowns caused a chain reaction that led to increasing costs along the entire supply chain from mine to mint.

Sovereign owned mints, such as those in Canada, Europe and Asia also have large-scale operations for producing coins for investment. Lower foreign manufacturing costs combined with other market-driving factors put the prices of these legal tender coins at a lower premium over spot than those produced domestically.

Even though they have a nominal face value in a foreign currency, most are also eligible for inclusion in a precious metals IRA based on their legal-tender status and gold purity.

Vintage Gold Coins

Long before the invention of paper money and fiat, gold has a long traditional history as money that has proven to stand the test of time. Pure gold is very soft and easily damaged during circulation. Many vintage gold coins are minted from a 22k gold alloy, which blends other metals such as copper and silver to provide rigidness.

Gold coins were the acceptable currency for everyday spending, making major purchases and for international trade.

The lust for gold and wealth was the primary driver of Colonial expansion during the 18th and early 19th centuries.

European kings and monarchs built mints in far away places to create coins from their newly acquired riches. The Spanish were the first to establish a mint in North America in 1535 to melt down Aztec treasures into Spanish gold escudos coins.

The British established a branch of the Royal Mint in Western Australia to mint Gold Sovereign coins that later become the Perth Mint.

For hundreds of years, coins such as British Gold Sovereigns, the 20 francs and other European gold coins like the Gold Corona were minted with qualities that made them ideal for circulation and to withstand generations.

Gold is Insurance Against CBDC

The record amounts of stockpiling by central banks is recent years is a top indication that there is a global economic shift towards a gold-backed currency for international trade.

Many countries, particularly in the Middle East, Africa and Asia have been ramping up their gold buying in preparation for the introduction of a BRICS+ commodity-based basket currency.

Gold is a unique physical asset that is easily exchangeable into cash. Having a portion of your savings outside of the traditional banking system that is controlled by the government and central banks gives you more control of your money and your future.

The Federal Reserve and White House have both announced plans to roll out a CBDC. Many are correct in their beliefs that the government will attempt to force the use of a programmable currency in the coming years as the state of the economy worsens.

Owning even a small investment in gold coins can provide peace of mind and financial security that is expected to come with a collapse of our current financial system in the coming years.

Practical Gold Preps

It’s growing harder for families to maintain a budget when the cost of basic groceries and gas to fill up the car increases with each passing week.

Being able to set aside enough cash savings to cover a few months of expenses is nearly impossible in the current climate of skyrocketing inflation, alongside continually rising interest rates and massive layoffs in the job market.

The importance of having a stable, trusted and reliable store of value has never been more critical than it is today.