US Mint Pre-1933 Gold Coins Archives

March 29, 2024April 27, 2024

Tangible Assets: Vintage Gold Coins

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As tangible assets, vintage gold coins can diversify an investment portfolio, reducing risk by spreading exposure across different asset types. Many investment advisors recommend precious metals as a safe haven since prices remain relatively stable to the dollar to offset the volatility that can come in the stock market. Tangible assets are an alternative investments that can diversify an existing investment portfolio and provide protection against inflation.

Gold coins can bring unique diversity to an existing investment portfolio, while expanding on an interest in numismatics or history. Beyond potential financial gains, the process of collecting, studying, and preserving historical coins can morph into a numismatic hobby.

Prior to the Great Depression, gold coins were the normal and natural form of money and in common circulation throughout the world. While the government recalled millions and melted them down, millions more were saved from the smelters due to limited personal ownership exemptions in the law, along with exemptions for coins having numismatic value.

During the era of the gold standard, gold coins were the preferred and accepted method of trade and commerce. In recent years, many well preserved Pre-1933 US Mint gold coins have been discovered in historic “hoards” from European vaults, such as the well known Rive d’Or Collection, discovered in a bank in Paris and released in 2008.

Coins having historical significance often appreciate in value, especially those in good condition, with rare mint marks, from limited mintages, those connected with special collections and other particulars. Owning some of these tangible assets can bring personal satisfaction and a sense of connection to the past, in addition to the intrinsic value of the gold.

There are known counterfeits that circulate in the market from time to time, most often from shady sellers. These are easily discovered due to the widespread industry use XRF along with the more affordable devices like the Precious Metals Verifier from Sigma. These devices have become an indispensable tool for local coin shops, pawn shops, “we buy gold” stores, jewelry stores.

As a way to reduce risk, many investors choose third-party graded gold coins from companies such as NGC and PCGS. Coins that have been graded and encapsulated by these types of services have been verified as authentic. Based on an expert analysis, a grade and unique serial number are assigned to each coin during the review process, which can later be used to verify authenticity.

In addition to the Sigma, there are a variety of other devices that assist hobbyists, numismatists and investors to verify authentic products and reduce risk.

US Mint Pre-1933 Gold Coins

American gold coins from the early 20th century and later 19th century are a favorite for many collectors, due to the connection to our history. While these coins have been held by collectors and investors for nearly 100 years, they are among the mot widely recognized throughout the world.

Pre-1933 gold coins from the US Mint were minted to standards defined by the Coinage Act of 1792. The Act defined and described three distinct denominations.

$10 Eagles – Defined with 247 4/8 grains of pure gold or 270 grains of standard gold. The accepted
standard for coin gold during the era was 90% purity, or .900 fineness. This accounted for a significant amount of gold, while being alloyed with a small amount of more durable metals like copper for added strength for circulations. Each $10 gold eagle coin is minted with 0.4838 troy ounces of gold.
$5 Half Eagles – Defined with 123 6/8 grains of pure gold or 135 grains of standard gold. Each $5 gold eagle coin is minted with 0.2419 troy ounces of gold.
$2.50 Quarter Eagles – Defined with 61 7/8 grains of pure gold or 67 4/8 grains of standard gold. Each $2.50 Quarter Eagle gold coin is minted with 0.121 troy ounces of gold.

The California Gold Rush created a huge increase in the inflow of gold flowing into the U.S. Treasury, creating the need for a new denominations to handle the influx. The Coinage Act of 1849 authorized the production of the $20 Double Eagle, which was the largest denomination for a regular issue U.S. gold coin at the time. The Act also established the specifications for the $1 gold coin.

The Liberty Head double eagle or Coronet double eagle was introduced as a pattern coin by the US Mint in 1849 and entered production in 1850. Each $20 Double Eagle Gold Coin is minted with 0.9675 troy ounce of gold. The Double Eagle had an overall weight of 33.436 grams and was made from 90% gold and 10% copper alloy, maintaining the standard for U.S. gold coins.

Throughout its mintage history from 1850 until 1933, more $20 Double Eagle Gold Coins were issued than all of the other denomination. Today, these coins are highly sought after by both investors and collectors, particularly those that are third-party graded and in mint state condition.

Mexican Gold Pesos

The 50 Pesos Gold Coin, or Centenario was first minted in 1921 to commemorate the 100th anniversary of Mexico’s independence from Spain. It is not only a form of currency but also a significant symbol of Mexican pride and heritage.

The coin features the iconic image of the “Winged Victory” (El Ángel de la Independencia) on the obverse, holding a laurel wreath and a broken chain, symbolizing freedom and victory.

The reverse displays the national coat of arms of Mexico, with an eagle holding a serpent in its beak and talon, perched on a prickly pear cactus.

The Centenario contains 37.5 grams (1.2057 troy ounces) of pure gold.

The gold peso coins are available in various denominations, including 50, 20, 10, 5, 2.5, and 2 pesos, each containing a proportionate weight of gold. These coins are both legal tender and investment pieces.

Mexican gold peso coins are valued for their gold content as well as their numismatic value. Collectors and investors seek them out for their historical significance and beautiful design in addition to the gold content.

British Gold Sovereigns

The British sovereign gold coin has a storied history, dating back to its first introduction in 1489 during the reign of King Henry VII.

The modern version of the sovereign, as we know it today, was first minted in 1817 under King George III as part of a major coinage reform following the end of the Napoleonic Wars, with the aim to standardize Britain’s currency and improve the quality of the nation’s circulating gold coinage.

Today, the British sovereign gold coin is primarily a bullion coin for investors and collectors, valued for its historical significance, artistic design, and gold content. While it is no longer used as circulating currency, the sovereign remains a symbol of Britain’s rich numismatic heritage and is considered one of the most prestigious gold coins in the world.

With dozens of unique variations, mint marks and other details, sovereign gold coins have a well established numismatic history, a variety of interesting design variations and are widely recognized throughout the world. The British sovereign gold coin has a rich history as a medium of international trade, a store of wealth, and a symbol of stability and reliability.

Its extensive minting history and role in the gold standard era have cemented its status as a key piece in the world of numismatics and precious metal investment. As an investment, sovereigns are a naturally fractional gold coin are a popular choice among gold buyers that are looking for one of the lowest premium investment coins in the market.

20 Francs Gold Coins

The 20 francs gold coin, often known as the “Napoleon,” is one of Europe’s most famous and widely circulated gold coins with a history that extends back to the early 19th century. The coin was part of a monetary reform that began during the reign of Napoleon Bonaparte that aimed to stabilize the French currency after the turmoil of the French Revolution.

The 20 francs gold coin was designed to be a stable and reliable unit of currency that could facilitate trade and store value. Each coin contains approximately 0.1867 troy ounces (or 5.8 grams) of gold, providing a tangible and valuable asset that has historically been a reliable store of wealth. Its circulation was not limited to France; eventually becoming the standard coin across Latin Europe, playing a crucial role in international trade.

After the creation of the Latin Monetary Union in 1865, the specifications for the 20 francs gold coin became a standard that member countries adopted, leading to the production of similar coins in Belgium, Switzerland, Italy, and other nations, which made it a trustworthy and convenient medium of exchange and investment.

It is difficult to measure the number of gold coins that were minted by LMU member countries due to the extensive period of production and the number of countries that adopted the standard. However, it is clear that millions of these coins were produced over the decades to meet the needs of trade, investment, and currency stability in Europe.

Today, the 20 francs gold coin is primarily sought after as a bullion coin and a collector’s item. It is also popular among numismatists for its historical significance, artistry, and gold content. While no longer in active circulation as currency, the 20 francs gold coin remains a popular choice for those interested in gold investment and European monetary history.

As the value of paper fiat currencies continues to drop, gold coins can help protect wealth against inflation. The relatively small size of the 20 Francs gold coin makes it easy to store, transport, and trade. They are generally highly liquid assets, meaning they can be easily converted into cash when needed.

Austrian Ducat and Corona Gold Coins

The Gold Ducat originated in the Republic of Venice in the 13th century, while the Gold 100 Corona was first minted in Austria-Hungary in the 19th century. The Austria Corona was primarily used as a trade and circulation coin. It was intended to facilitate large transactions and store value in a stable and internationally recognized form. The coin played a significant role in the economic system of Austria-Hungary, serving both domestic and international trade needs.

Various denominations of Corona Gold Coins were issued throughout the long period of production until the dissolution of Austria-Hungary in 1918 following the outbreak of World War I. It is known that these coins were produced in large quantities to support the economic and financial needs of the empire.

The Ducat is another famous gold coin from Austria, which originated in the Republic of Venice in the 13th century. Ducats were widely used across Europe as trade coins beginning from the medieval period onward. The Austrian Ducat, particularly the 4 Ducat gold coin, was known for its high purity (.986 fine gold) and was minted for trade and investment purposes.

October 24, 2023February 21, 2024

Investing in Vintage Gold Coins

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Many vintage gold coins come with a rich history that provides a tangible connection to a bygone era, something that modern bullion doesn’t offer in the same way. These coins represent ancient empires, defunct monarchies and bygone eras from when many economies were on a gold-standard, which can be intriguing to investors and collectors alike.

For investors who value gold as a store of wealth, vintage gold coins are seen as reliable in terms of their gold content. Given that they were minted under a standardized system, there’s a level of trust regarding their purity and weight. Because of their connection to history, they also serve as collectible items and as tangible assets with intrinsic value.

These coins were minted during an era when the world economy was based on the trusted gold-standard. Intended for circulation, most of these coins were minted with an alloy of .900 fine gold, with the remainder a more durable metal, most typically copper.

While all gold coins carry intrinsic value due to their metal content, vintage coins can also have numismatic value. The numismatic value depends on collector demand, rarity, historical significance, condition, other attributes and can fluctuate based on market conditions.

US Mint Pre-1933 Gold Coins

Gold coins minted by the United States prior to 1933 are an investment choice that is part of history. These coins often carry a numismatic premium and most trade at a premium over spot, unless in very poor or damaged condition.

When the government ordered the seizure of gold in 1933, not everyone complied with the order. Some people simply chose to keep their gold and hoped that they wouldn’t get caught. The actual enforcement of the executive order was primarily targeted prosecution against vocal opponents of the seizure. A historical use of the courts to create examples of political foes and propagandizing the media to instill fear into the people.

The executive order made exceptions for gold coins with recognized special value to collectors of rare and unusual coins, which meant numismatic (collectible) coins were exempt. Many individuals claimed their gold coins held collectible or numismatic value, even if they were relatively common.

With the passage of Public Law 93–373, signed by President Gerald Ford on August 14, 1974, Americans regained the right to own gold, which had profound implications for the gold market, the economy, and individual financial freedom. The law repealed the restrictions on private ownership of gold that had been in place since President Franklin D. Roosevelt’s Executive Order 6102 in 1933, reflecting a changing view toward gold ownership and the role of gold in the U.S. financial system.

Pre-1933 U.S. gold coins represent an era in American numismatics before the significant gold recall and meltdown. Owning these coins is akin to holding a tangible piece of American history.

In addition to their bullion value, many pre-1933 gold coins have numismatic or collector value. Rarity, condition, mint marks, and historical significance can make certain coins particularly sought after by collectors. Pre-1933 U.S. gold coins like the Saint-Gaudens $20 Double Eagle and the Liberty Head design are well recognized among coin dealers and collectors worldwide. Their gold content and purity are consistent and widely accepted.

Mexican Peso Gold Coins

Mexico City is home to the oldest mint in North America, established in 1535 under decree of the Spanish Crown. Vintage Mexican Gold Peso coins are some of the most beautifully designed gold coins in the world.

The Mexican gold peso, especially the “Centenario” 50 pesos coin, holds a notable place in the realm of gold coinage. The smaller denominations of Mexican gold peso coins, namely the 2, 2.5, and 5 gold peso coins, were introduced in various periods of the 20th century as both commemorative and circulating coins.

Introduced in 1921 to commemorate the 100th anniversary of Mexico’s independence from Spain, the Centenario became a mainstay in the international gold market. Its purity and the reputation of the Mexican Mint made it a trusted coin for international trade, especially in regions with close economic ties to Mexico.

The smaller denominations of Mexican gold peso coins were introduced in various periods of the 20th century as a reliable store of value. Most of these coins have seen limited circulation because of the high gold content.

European Gold Coins

Most countries in Europe minted gold coins during the 17th, 18th, 19th and even into the early 20th century. Most were intended for use in merchant trade were widely circulated. Although today they are mainly considered bullion coins, many are in surprisingly good condition for their age and can have additional numismatic value.

20 Francs

The Latin Monetary Union (LMU) was a 19th-century to unify several European currencies into a single gold-standard based around the French Franc, which facilitated trade and commerce among member nations. The LMU established standardized weights, denominations and purity specifications for the gold or silver content of coins.

The coins were minted to a common specification that could be used in all member states, similar to how the Euro is used today across the Eurozone.

Many gold coins from LMU member states, like the French Gold Rooster or the Swiss Vreneli, have become iconic. These coins feature designs that resonate with the culture and history of their respective nations.

Although the weight and purity of the gold were standardized across LMU members, each country had its own design for these coins. For instance:

France had the “Napoleon” coin depicting Napoleon III.
Switzerland’s 20 franc coin featured the bust of Vreneli.
Italy had the 20 lire coin with designs such as King Victor Emmanuel II.
Belgium, Greece, and other member and affiliated states had their distinct designs.

The gold content in 20 franc coins is consistent, set to 0.1867 troy ounces (5.805 grams) of gold. This makes them easy to trade, as their gold value is straightforward to calculate. Because they are not as actively minted as modern bullion coins, and their fractional size, the premiums on 20 franc coins can be lower than on more popular gold bullion coins, offering a cost-effective way to invest in gold. Their smaller size compared to a one-ounce gold coin makes them more affordable for individual investors, allowing for more incremental investments.

Gold Sovereign

By the latter half of the 19th century and early 20th century, the gold sovereign had become the “chief coin of the world,” circulating widely not just in the British Empire but also in international markets and areas outside direct British influence. It was a favored coin for international trade and was often held in central banks as a reserve currency.

The Royal Mint established branches in Sydney (1855), Melbourne (1872), and Perth (1899). Australian sovereigns can be identified by mintmarks S, M, or P respectively and were minted until 1931.

The Ottawa branch of the Royal Mint in Canada produced sovereigns from 1908 to 1919. The Pretoria branch minted sovereigns from 1923. The Bombay branch of the Royal Mint produced sovereigns only in 1918.

Dutch Gulden

The Dutch 10 Gulden coin is a notable gold coin from the Netherlands that holds historical and numismatic significance and was part of the country’s currency system before the adoption of the Euro.

The 10 Gulden gold coins were minted at various times during the late 19th and early 20th centuries. The designs of the coins featured the reigning monarch of the Netherlands at the time of minting. For instance, coins from the late 19th and early 20th centuries commonly bore the likeness of King Willem III or Queen Wilhelmina. The reverse side typically featured the national coat of arms and the denomination.

These coins are prized by collectors for their historical significance, gold content, and artistic design. The value of a 10 Gulden coin can vary based on its condition, rarity, and the specific year of minting as well as the intrinsic value of the .1947 troy ounces of gold.

The 10 Gulden gold coins are a reflection of the Netherlands’ rich history and its economic status during the times they were minted. They were part of a broader system of gold-based currency that was common in Europe prior to World War I and the subsequent shift to fiat currencies.

Given their gold content and historical significance, Dutch 10 Gulden coins are sought after by both gold investors and numismatic collectors. They offer a glimpse into the Dutch monetary history and are considered valuable pieces in European gold coin collections.

In summary, the Dutch 10 Gulden coin is a historic gold coin that represents a significant period in the monetary history of the Netherlands. Its collectability stems from its gold content, artistic designs, and the historical context under which it was minted.

Conclusion

Beyond their intrinsic gold content, vintage coins can have additional numismatic or collector’s value. Coins that are rare, in high demand, or in excellent condition can command prices significantly above their melt value.

Vintage gold coins provide an alternative avenue for diversifying a precious metals portfolio. While modern bullion may track the spot price of gold more directly, vintage coins can have value fluctuations based on their rarity, demand, and condition, offering a different investment dynamic.

Older coins often feature intricate designs and craftsmanship that differ from modern coins. The artistry of past eras, combined with the historical context, can make vintage coins more appealing to some collectors and investors. Holding a vintage gold coin provides a tangible connection to a bygone era, something that modern bullion doesn’t offer in the same way. vintage gold coins offer both tangible and intangible benefits that extend beyond mere gold content. Their historical, artistic, and numismatic aspects make them a favored choice for many collectors and investors with an appreciation for history and artistry.

August 16, 2023November 17, 2023

The Basics of Coin Collecting

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Coins and currency are tangible artifacts that provide a window into the history, culture, politics, and economics of different time periods and civilizations.

Collecting coins and other numismatic items allows you to hold pieces of history in your hands and learn about the past through their collection. Prior to 1933, gold coins were part of the economy and were used for many every day transactions. Many of the Pre-1933 gold coins are now well over 100 years old.

Coin collecting originated as a pursuit driven by curiosity, fascination with history and the desire to preserve and understand the past through tangible artifacts. The origins of coin collecting, or numismatics, can be traced back to times as ancient as the coins themselves as some have been around for thousands of years. Over the centuries, it has grown into a well-established hobby with a diverse and enthusiastic community of collectors.

Coin Collecting Origins

The practice of coin collecting gained significant momentum during the Renaissance and Enlightenment periods. Scholars, artists, and thinkers of the era became interested in the history, artistry, and symbolism of coins.

One Italian poet, scholar and humanist in particular named Francesco Petrarch is often considered one of the earliest coin collectors. He owned a vast collection of coins, manuscripts, and artworks which he displayed in his “Cabinet of Antiquities.”

The concept of a “cabinet of curiosities” was popular during the Renaissance and Enlightenment. These cabinets, also known as Wunderkammer, were private collections that included various objects, including coins, fossils, natural specimens, artwork and antiquities.

Collectors like Petrarch saw coins as valuable artifacts that could provide insights into different and ancient cultures and historical periods, in addition to the intrinsic value.

Another notable early coin collector was English antiquary and politician Elias Ashmole. His eclectic collection included rare books, manuscripts and artifacts alongside a massive and significant collection of coins. Ashmole was one of the early members of the Royal Society and his collection formed the basis of the Ashmolean Museum in Oxford, one of the oldest public museums in the world.

Coin Collecting Catalogs

The emergence of coin catalogs began in the 18th and 19th centuries as numismatists began publishing books about coins, detailing their characteristics, origins, and historical context.

These catalogs helped collectors identify and classify coins, and they played a crucial role in the development of numismatic scholarship.

In the 19th century, organized coin collecting groups and societies began to form. These groups provided a platform for collectors to share their knowledge, exchange coins, and collaborate on research projects.

Founded in 1891, the American Numismatic Association (ANA) is one of the oldest and most influential coin collecting and numismatic organizations in the world. Their mission is to promote and advance the knowledge and enjoyment of numismatics, as well as to foster the exchange of information and ideas among collectors, dealers, and scholars.

Virgil Brand, an early American collector, assembled one of the most extensive and diverse coin collections of his time. His collection included an impressive array of rare U.S. coins, world coins, as well as rare and valuable ancient coins.

One of Brand’s notable contributions was the creation of the “Brand Book,” a multi-volume catalog of his collection.

The Brand Book provided descriptions and information about each item in his collection and remains an important resource for researchers and collectors.

The American Numismatic Association (ANA) is a nonprofit organization dedicated to the study and collection of coins and other related items.

Today, the “Red Book,” formally known as “A Guide Book of United States Coins,” is the most widely recognized and respected reference guide for collectors, dealers, and enthusiasts of United States coins. It is one of the most comprehensive and authoritative sources of information about U.S. coinage, providing essential details about coin values, mintage figures, historical background, and collecting tips.

The Red Book is published annually by Whitman Publishing with contributions from various numismatic experts. It has been in publication since 1947, making it a staple in the numismatic community for over seven decades.

The 77th edition of the Red Book covers everything from early colonial copper tokens to hefty Old West silver dollars and dazzling gold coins. The book includes more than 32,500+ prices and auction records for nearly 8,000 coins, tokens, medals, coin sets and other collectible species.

Diversification: Coin collecting can diversify an investment portfolio. Since the value of rare coins or coins made from precious metals can move independently of traditional financial markets, they can provide a hedge against market volatility.

Inheritance and Estate Value: Well-curated coin collections can become valuable family heirlooms, passed down through generations. Over time, the historical and monetary value of these collections can grow significantly.

Educational Value: The knowledge gained from coin collecting about history, economics, and numismatics can be invaluable. This expertise can aid collectors in making informed purchasing decisions, potentially leading to profitable sales or trades.

Enjoyment and Satisfaction: While not a direct financial gain, the enjoyment and satisfaction of building a collection should not be underestimated. For many collectors, the value of their collection is also in the journey and passion for the hobby.

Networking and Community: Engaging with the coin collecting community can lead to opportunities for profitable trades, sales, or purchases. Networking can also provide insights into market trends and valuable information about rare and valuable coins.

Market Timing and Strategy: Skilled collectors who understand market dynamics can buy coins when prices are low and sell when they are high, much like stock market investments.

Condition and Preservation: Collectors who skillfully maintain and preserve the condition of their coins can see an increase in value over time. The condition of a coin is a critical factor in its valuation.

However, it’s important to note that coin collecting as an investment strategy carries its own risks and requires knowledge and research. The market for coins can be volatile and influenced by numerous factors. Therefore, it’s recommended to approach coin collecting with both an interest in the hobby and a strategic investment perspective, and not solely for the purpose of wealth generation. As with any investment, diversification and not putting all your financial resources into one type of asset is a prudent strategy.

US Mint Pre-1933 Gold Coin Investments

Coin collecting can also be a method of building wealth, albeit with certain nuances compared to traditional investments.

Many collectible coins, such as older coins or special bullion issues, are made of precious metals like gold and silver. The intrinsic value of these metals fluctuates with the markets and gold has a history of being a hedge against inflation.

Beyond the intrinsic value of the metal, collectible coins can acquire a numismatic premium. This premium is based on factors like rarity, condition (grade), historical significance, and market demand.

Rare coins, especially those with historical significance, limited mintage, or unique features, can appreciate in value over time. The scarcity and demand for these coins can drive their prices higher in the collector market.

The Executive Order 6102 required U.S. citizens to surrender their gold coins, gold bullion, and gold certificates to the government. Many gold coins deemed of numismatic value were exempt, however, a significant number of coins were melted down. This reduced supply has added to the rarity and desirability of many pre-1933 gold coins.

Collecting pre-1933 gold coins can be a rewarding and strategic choice for investors with an interest in numismatists since these coins were minted during an era when the gold standard was in place..

Pre-1933 gold coins offer the additional advantage of physical ownership of a tangible asset. Holding these coins provides a sense of connection to the past as well as a hedge against economic uncertainty.

These coins contain a significant amount of gold. For example, a $20 Saint-Gaudens gold coin contains .9675 ounces of gold. The intrinsic value of the gold content provides a floor for their market value. Most pre-1933 gold coins also numismatic value, even in circulated condition. The numismatic premium is determined by factors like rarity, demand, condition, and historical significance. In certain market conditions, the numismatic premium on specimen coins can substantially exceed the melt value.

Including a collection of Pre-1933 gold coins in an investment portfolio can provide a level of diversification beyond traditional financial assets.

Coin Grading Scale

As numismatics evolved during the 20th century, collectors and experts recognized the need for standardized terminology and grading systems. The Sheldon Coin Grading Scale, developed in the mid-20th century by Dr. William Sheldon has become the most widely adopted system for assessing the condition of coins.

With advancements in communication and technology, coin collecting has become more accessible to a global audience. The internet allows collectors to connect, research, sell and buy gold coins from around the world. Online auction platforms and forums have expanded the reach of numismatics.

Coin collecting has evolved beyond merely acquiring coins for their monetary value. Many collectors now focus on various aspects, including historical significance, artistic appeal, rarity, and cultural context, with some collectors specializing in specific periods, rulers, or coin types.

Universities and museums often have numismatic departments that contribute to research and education. These institutions offer academic programs and conduct research to further the understanding of coins’ historical and cultural importance.

Today, numismatics is a global hobby with collectors from different countries sharing their passion and expertise. Numismatic events, exhibitions, and conferences provide opportunities for collectors to connect and learn from one another.

June 14, 2023June 14, 2023

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 excellent 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.

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.

Determine Your Budget

Set a budget that aligns with your investment goals and financial capabilities. Pre-1933 US Gold Coins can range in price, so it’s essential to establish a precise spending plan. Many online bullion dealers offer a random year selections based on available inventory. Many can also offer encapsulated coins that are authenticated by third-party grading services that can be purchased by its grade.

Choose a Reputable Dealer

When purchasing Pre-1933 US Gold Coins, working with a trusted and reputable dealer specializing in gold coins is vital—research dealers’ credentials, reviews, and track records before making any transactions. FindBullionPrices.com tracks gold coin prices from dozens of trusted and reputable online bullion dealers to help you find the absolute best prices.

Authenticity

Ensure that any coins you buy are genuine and authentic. Be cautious of counterfeit coins and buy from reputable dealers or auction houses with a record of dealing in rare coins.

Condition

Consider the state of the coin. Coins in better condition generally command higher prices, especially in the numismatic market. However, balancing need and affordability is essential, as pristine examples can be significantly more expensive.

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.

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 a professional coin grading service has not officially graded. 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.

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.

June 13, 2023June 14, 2023

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.

April 23, 2023April 29, 2023

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.

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.
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.
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.
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.

November 20, 2021May 1, 2023

Is it legal to own Precious Metals?

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For over 40 years, from 1933 until 1974, the US government made it illegal for citizens to own gold.

Thanks to President Gerald Ford, it is legal for everyone to own gold, silver and other precious metals since 1974.

History of Precious Metals Prohibition

In the early 20th century paper currency was far less common than today. Paper bills were often only available in large denominations commercial and interbank transactions. Much of the currency in circulation was coinage minted of silver and gold alloys.

Economies were still based on the gold-standard. The coins in circulation were minted of 21k gold, which is a mixture of 90% gold and 10% copper for strength and wear resistance during everyday circulation.

Gold coins before 1933 were minted in denominations that include the $2.50 (quarter eagle), $5.00 (half eagle), $10 (eagle) and $20 (double eagle).

In 1921, following the end of the first World War, the Morgan Silver Dollar was replaced with the Peace Silver Dollar. Both coins were composed of an alloy containing a mix of 90% silver and 10% copper. The amount of pure silver in each $1 USD coin being 0.7734 troy ounces.

Also during that time smaller denominations of coins, including the dime, quarter and half-dollar, we also minted from the same silver and copper mixture. The US Mint continued to issue 90% silver coins through 1964.

When clad coins began to circulate in 1965, some citizens remembered the gold seizure that happened thirty-two years early.

The roaring 20’s led to the Great Depression. Wall Street Banks, along with regional banks under purview of the young Federal Reserve system were happy to give out margin loans, unsecured credit in fiat currency.

During the economic hardship many people lost faith in the banking system. Instead of depositing cash into banks, many people turned to hoarding cash at home in the form of gold and silver coins.

During the Great Depression, Roosevelt used an obscure and obsolete piece of legislation meant to prevent the German government to profit from patents in the United States during the World War I as justification for his numerous Executive Orders to confiscate gold coins from the economy.

On April 5, 1933, after enduring several years of the Great Depression, President Franklin Roosevelt signed Executive Order 6102.

With the swipe of his pen, Roosevelt made it a crime for any US citizen to own gold coins, gold bullion or even gold certificates, which were a form of gold-backed fiat currency that was exchangeable for gold. In exchange, the government offered citizens $20.67 in fiat for each ounce of gold that was surrendered.

All gold was ordered to be surrendered to the government. Within the first thirty days the Treasury was able to collect roughly one third of the $1,400,000,000 in gold that was in circulation.

Any person who failed to comply with the presidential order faced imprisonment and fines of up to $10,000. Many private citizens and investors were put on a list, targeted, arrested, prosecuted, fined, imprisoned and had their gold seized.

The order did exempt some items. Such as jewelry, numismatic collectibles, items used by industry, some professions and artists.

In defiance to the order, people drilled holes or attached hasps to the coins to convert coins into pendants to hang on a chain to meet the minimum standard of jewelry.

The seizures, arrests and prosecutions of those who did not surrender their gold continued for most of 1933. Roosevelt signed additional Executive Orders throughout the year.

One of which gave the Justice Department the authority to build a list of citizens suspected to be ‘gold hoarders’. Essentially acting as a government backed gestapo.

During the summer of 1933, agents from the Justice Department visited the homes of “known hoarders of gold” to confiscate more than $38,901,009 worth of gold.

The Emergency Banking Act of 1933 was supposed to help restore faith in the banking system and the economy after the Federal Reserve led the country into the Great Depression.

The prohibition on private ownership of gold continued for 41 years.

Nixon Shock

During the early 1970s, Nixon was facing rising unemployment, high inflation, the looming oil crisis and political foes. In August of 1971, the President called together top economic advisors for a secret meeting at Camp David.

Notable participants in the meeting included Federal Reserve Chairman Arthur Burns and Treasury Secretary John Connally. Also present, then Undersecretary for International Monetary Affairs and future Federal Reserve Chairman Paul Volcker.

Following this meeting Richard Nixon authorized then Treasury Secretary John Connally to break the Bretton Woods Agreement that had defined the rules of international trade amongst many countries following World War II.

Without consulting any international leaders, the actions included the immediate suspension of the “gold standard”.

Nixon directed the Treasury Secretary to abolish the convertibility of dollars into gold through the London Gold Pool. This also removed the fixed price of gold from $35 an ounce to a market based system.

By 1973, the US gold standard that was established by Bretton Woods had been replaced. The new system based on free floating exchange of fiat currencies.

Following the resignation of Nixon, one of the first laws signed by President Ford included a bill which reversed Roosevelt’s Executive Orders.

The bill authorized expansion of the World Bank and included provisions that legalized citizens full authority to purchase, hold, sell, or otherwise deal with gold in the United States or abroad. It has been legal for anyone to own, hoard, buy and sell gold in the United States since December 1, 1974.

The gold bull run that followed culminated in a price peak of $850 USD per ounce in January 1980.

Sovereign Gold Bullion Market

The Gold Krugerrand was the first gold bullion coins to be sold to investors when it debuted in 1967.

At the time, apartheid sanctions against South Africa made it difficult to invest in Gold Krugerrands. The top gold coins of the day included the Gold 100 Corona from Austria and the Mexican 50 Pesos Gold Coin. These vintage gold coins have maintained their popularity with investors.

In 1979, the Royal Canadian Mint introduced the first mintage of the Maple Leaf 1 oz Gold Coin.

The basic design of the Canadian Maple Leaf 1 oz Gold Coin has remained largely unchanged since its creation.

The US Mint made several failed attempts during the early 1980s to woo precious metals investors. One notable attempt is the American Arts Commemorative Series Medallions.

There are ten medallions that are part of the American Arts Commemorative Series that were minted from 1980 through 1984.

The larger medallions are minted 1 troy ounce of pure gold. While the smaller medallions contain 1/2 troy ounce of pure gold. At the time of release, the medallions were poorly received by collectors, the public and investors.

These medallions were struck from an alloy containing .900 fine gold. Today, these medallions are popular with gold stackers and investors and can are often on sale in the secondary market very close to spot price.

While the series was a commercial failure, it paved the way for Congress to create and establish the guidelines for the American Eagle series of coins from the US Mint.

Gold American Eagle

The American Eagle series premiered in 1986. It continues to be one of the most popular precious metal investment vehicles in the world.

It has been more than 52 years since the Nixon Shock moved off the United States off the gold standard.

Private ownership of gold, silver and other precious metals remains legal throughout the United States today.

Demand from investors continues to grow as more people continue to lose faith in the banking system, traditional investments like stocks and bonds as well as the federal government’s ability to manage and regulate effectively given the massive amount of corruption plaguing Washington.

As of 2023, more than 47 million ounces of gold have been used in minting of four denominations of American Gold Eagle coins. Investor demand for American Gold Eagle coins remains strong after 37 years.

April 20, 2019April 29, 2023

Compare Premiums to Determine Which Silver Dealer Has the Best Price

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When you buy silver and gold bullion from online dealers the pricing displayed on their websites can be confusing. It can sometimes be hard to tell if you’re getting a good deal or not.

All bullion dealers, whether online or a local coins shop, price their bullion relative to the spot price of the precious metals. The price the dealer charges over spot price is called the dealer premium.

The only way to know whether or not you’re getting the best price when you buy precious metals online is to compare the dealer premiums over spot price.

Comparing dealer premiums for a particular item, whether it’s the latest American Silver Eagle coins, 10 oz silver bars, or Pre-1933 gold coins, can be a tedious and time consuming job. Looking for the same item across multiple dealer websites takes time.

FindBullionPrices.com provides tools to help simplify the process for buying silver and gold bullion from online dealers. We pull the latest prices from many trusted and reputable bullion dealer websites for over 300 unique products.

Each product listing is designed to make it easier to decide which dealer has the best deal when you buy bullion online. The product listings display the current spot price, including the melt value for each item. The current price the dealer is selling an item for is displayed, along with the calculated dealer premium over the melt value.

For each product we try to show as many dealers as possible that are selling a particular gold or silver coin. Dealer inventories can change quickly so we may not always show every dealer that is selling a particular item, though we try to do the best we can.

Shipping Charges and the Myth of Free Shipping

Many online bullion dealers offer free shipping when you place an order over a certain dollar amount. For a lot of bullion dealers, the free shipping threshold is that orders over $99 ship for free. The cost of the shipping is generally included in the dealer premiums.

Several online bullion dealers offer free shipping for all orders regardless of the dollar value of the order. These dealers typically have much higher premiums per item to cover the shipping costs.

Still, there are other dealers that are more transparent in their pricing and cost structure. They may not offer free shipping at all, or have a higher minimum order dollar value threshold for offer free shipping.

As silver and gold bullion are commodities, market conditions dictate the price trend which affects the price you pay. As with any business, each dealer has different levels of overhead, operating costs and desired profit margins.

Some online bullion dealers prefer high volume with lower margins while others may charge a heavy premium, especially when purchasing lower quantities or lower order values.

The top trusted and reputable online bullion dealers willing to compete on both service and price, who are interested in establishing long-term stacker customers that will continue to buy from them on an ongoing basis, are the dealers will to compete on price and provide the best customer service.

Payment Methods and Types

Our dealer listings section has a page that shows the payment methods accepted by dealer accepts and displays information regarding the shipping policies, minimum order value thresholds for free shipping and more.

Virtually all online bullion dealers accept credit cards, checks and wire transfers for payment. Dealers that accept credit cards and PayPal as payment methods typically incur a fee for each transaction. The fee that credit card companies and PayPal charges the dealer are typically 3% to 4% of the dollar value of the order. These fees are included in the cost.

Online bullion dealers often display on their product pages two or three different prices. Dealers will usually display the Cash Price and the Credit Card/PayPal price, and some dealers may display a third category that have begun accepting BitCoin and other cryptocurrencies for payment.

Paying the Cash Price for Silver & Gold Bullion

The lowest price is the Cash Price. The Cash Price when you buy gold or silver from an online dealer represents the equivalent to walking into the store and paying cash. This is obviously not possible when making an online transaction, so this price also often represents the price if you were to mail a check to the dealer, use an e-check option or perform a wire transfer.

Some credit card companies and payment processors have requirements that forbid merchants from charging a fee for accepting credit cards as a payment method. Online bullion dealers get around this by offering the items for sale at a Credit Card/PayPal price that is typically 3% to 4% higher than the Cash Price. While the Cash Price is often referred to as a discounted price for using Cash, Check, e-Check or wire transfer as a payment method.