US Gold Coins
Developing a hobby of collecting gold coins can prove to be a very expensive one. US gold coins are fascinating, so you find that many people who come across them and can afford to collect, start doing so if they are interested.
Gold makes the world go round, remember the gold rush? That changed the destiny of many families. Have you seen how people react to gold? Even those who pretend to not even be remotely interested? From gold nuggets, to gold bars, golden biscuits and gold coins. Gold was actually used to make coins that were in mass circulation until it was phased out and metals and materials such as copper, nickel, silver and paper. When any trading was done with gold, it was the intrinsic value that was taken into account. With paper money however, it’s the promise of the value to be paid by the government which takes precedence.
During the depression, in 1933, gold coins stopped being minted in an attempt to take the economy out of its slump. In view of this, it was then illegal to be in possession of gold bullions or coins, and most US gold coins were recalled and melted. This is the reason for the rarity and scarcity of these coins. Those that were kept however go for ridiculous amounts. A 1933 US Saint Gaudens Gold Eagle was auctioned for seven and a half million dollars. Some US gold coins are more valuable than others, and more in demand so they don’t all cost the same.
Gold makes the world go round, remember the gold rush? That changed the destiny of many families. Have you seen how people react to gold? Even those who pretend to not even be remotely interested? From gold nuggets, to gold bars, golden biscuits and gold coins. Gold was actually used to make coins that were in mass circulation until it was phased out and metals and materials such as copper, nickel, silver and paper. When any trading was done with gold, it was the intrinsic value that was taken into account. With paper money however, it’s the promise of the value to be paid by the government which takes precedence.
During the depression, in 1933, gold coins stopped being minted in an attempt to take the economy out of its slump. In view of this, it was then illegal to be in possession of gold bullions or coins, and most US gold coins were recalled and melted. This is the reason for the rarity and scarcity of these coins. Those that were kept however go for ridiculous amounts. A 1933 US Saint Gaudens Gold Eagle was auctioned for seven and a half million dollars. Some US gold coins are more valuable than others, and more in demand so they don’t all cost the same.
Related posts:
- Dealing With the Scarcity and Rarity of US Gold Coins I’m fairly fascinated with US gold coins and their history, unfortunately for me it’s a fairly expensive hobby as well as being a fascinating one. I do persevere though as...
- The History of Gold Coins and Understanding Gold Coin Values According to history, King Croesus of Lydia was the one who introduced gold coins around 643-630 B.C. A pale yellow mixture of gold and silver called the electrum was a...
- The History of Gold Coins and Understanding Gold Coin Values The History of Gold Coins and Understanding Gold Coin Values According to history, King Croesus of Lydia was the one who introduced gold coins around 643-630 B.C. A pale yellow...
- Gold Coins - the Right Type of Gold for Your Portfolio Why are gold coins better then gold bullion?1. Gold coins can appreciate at a faster rate then gold bullion.2. Gold coins are exempt from confiscation by the U.S. government.3. Gold...
- World Gold Bullion Coins: Gold Eagles, Gold Maple Leaf, Krugerrand, and More World Gold Bullion Coins: Gold Eagles, Gold Maple Leaf, Krugerrand, and More Coins are usually collected just as a hobby. But you can actually buy these things called gold bullion...