Rare Date Gold Coins

With the official opening of the first Mint in the US, in 1795, the Government began issuing gold coins for common circulation. Until President Roosevelt’s gold confiscation order of 1933, the new gold coins were produced and used in commerce. The U.S. gold coinage kept evolving and several different series were introduced during 1795-1933. Some of these came to be treated as rare for various reasons and became more significant for the numismatic purposes. As a rule, the rare date coins command higher valuation than their other counterparts do. But for the experts’ advice, it is not possible for a common investor to assess the rarity and the resulting valuation of the mintage. The key professional grading organizations are Numismatic Guaranty Corporation (NGC), Professional Coin Grading Service (PCGS), American Numismatic Association Certification Service (ANACS), and Independent Coin Graders (ICG).

The slack supply of the rare coins can be attributed to smaller production and destruction in the due course. Destruction, in turn, was the result of accidental damage, wearing due to circulation, export, or melting by the Government. The turbulent economic times like these have always provided impetus to gold as an effective hedging instrument. The same effect is translated into the rare coins market, but in a magnified form. Over the past decade, these pieces have offered much better returns than the other forms of investments, including gold bullion. The supply of such pieces has remained static since 1933, and any surge in demand puts an upward pressure on their prices.

After World War II, as an indirect implication of the Marshall Law, the European nations converted their US Dollar holdings into old gold coins. Therefore, presently, these countries hold their large reserves. As the nations, worldwide, continue to hold on to gold as an insurance against volatile currencies, the old coins are not likely to enter the markets in large numbers. Most of the Eagles and Double Eagles minted from 1929-1933, are considered rare as the mintage rate was very low in these years. Almost all of the St. Gaudens Double Eagles molded in 1933 were melted down and only eleven pieces (hoarded or stolen) have been recovered, making it among the rarest dates. The proof coins and business strikes for the ultra high relief St. Gaudens $20 of 1907 are treated as extremely rare as this variant was discontinued. Another example is Liberty Head Double Eagle Type IA (designed by Anthony C. Paquet), released only in the year 1861. The proofs for the Three-dollar piece dated prior to 1859 are extremely difficult to find. Similarly, various dates for different denominations and the year of coins are regarded rare for different reasons.