Learn The History Of United States Rare Coins With Rare-Coin.org
November 18, 2009 – The history of United States rare coins began in 1795, when $1 gold coins were struck by the US Mint at seven different mints across the United States. The US Mint is known for only using US-mined gold in their coinage, so this is favorable for loyal American investors.
Beginning in 1839, the US Mint started to release $2.5, $5, and $10 denomination coins. In 1849, large pockets of gold were discovered in California, so the US government authorized the minting of the first ever $20 gold coins. These $20 gold coins, along with the fractional sizes, were produced and released every year until 1933, when President Franklin Roosevelt outlawed gold bullion ownership by US citizens.
All gold bullion was removed from circulation and shipped to Fort Knox, Kentucky, where it was then divvied out to the many nations to which the United States was in debt. From 1933-1971, it was a federal offense for American citizens to hoard gold bullion worth more than $100. In 1971, President Richard Nixon removed the United States from the Gold Standard and re-legalized gold bullion ownership.
In 1986, the US Mint began producing the American Gold Eagle coin, a replica of the pre-1933 Saint Gaudens rarity. This modern-day bullion coin has become quite popular, as have a number of the world’s gold bullion coins. However, United States rare coins are generally a much better investment if you plan to hold your gold coins long-term, because they will generally overcome their premium and outpace gold bullion products in the long run. Additionally, United States rare coins are deemed non-confiscatable if another gold bullion confiscation occurs, whereas modern-day products would most likely be seized. Contact us directly or give us a call today to receive free, customized mail-out reports and to get live quotes on the most widely traded bullion products and rare coins.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
