If you have been a customer of ITM Trading for the past 10 years you have noticed a very nice return on investment grade gold. In the past decade Investment Grade Gold has brought a return of of over 300%. Bullion investors wishing to diversify their gold holdings for security, privacy and profit often begin with Investment Grade Gold (IGG) coins, a select category of relatively affordable Mint State rare coins. These coins have significantly outperformed gold bullion in the past and their value often increases when traded in complete sets. They typically trend with gold but usually in much higher multiples than bullion, and often peak after bullion gold does (this is not always the case as the markets are independent).
This can mean great returns when gold is high and the bull market for them runs longer. In addition to being a sound safe haven, rare gold coins, beautiful, educational and are national historic treasures. For more information on diversifing your gold portfolio contact a precious metals specalist at ITM trading and get all the information on investment grade gold coins.
Showing posts with label gold coins. Show all posts
Showing posts with label gold coins. Show all posts
Wednesday, October 26, 2011
Tuesday, August 16, 2011
French 20 Francs Angel
The French 20 Francs Angel coin is popular for its simple but extremely impressive design. On the front side of the coin we find the Angel Genius signing the French Constitution. The constitution is located on a tablet. The angel is standing on a pedestal. On the left side of the Angel is a pillar and on the right side is a rooster. On the top of the angel is written the word ‘Republique Francaise’.
On the back side of the coin we find the inscription ’20 FRANCS’ along with the year when the coin was minted. These inscriptions are engraved in the midst of a wreath. On the top of the wreath the word ‘LIBERTE EGALITE FRANTERNITE’ is engraved.
A legend of the angel:
According to historians, Augustine Durpre designed this coin in the year 1792. The name of the angel engraved on the coin is ‘Louis D’or’. For having engraved the angel on the coin, Durpre was punished and was to be beheaded. Interestingly, Durpre escaped the beheading by bribing the guard with a coin of the angel which he had in his pocket and perhaps the guard helped him to escape. Interestingly again, Napoleon Bonaparte carried this coin of the angel in his pocket and he lost the coin before the famous war of ‘Waterloo’ and from then on Napoleon saw the downfall of his empire.
French 20 Francs Angel gold coin is one of the coins which were in circulation for a considerably short period of time. It is believed that this coin was in circulation during the period 1899 to 1906. Prior to this, this coin was in use during the years 1848-1849. During the period earlier to 1848, gold coins were in fact being minted but they were without the image of the Angel. Even with the short period of circulation, the coin has made a name amongst the numismatists.
The French 20 Francs Angel coin has a gross weight of 6.4516 grams with 90% purity. This coin with a diameter of 12 mm has gold content of 0.1867 0z. Most of the European gold coins have high gold content and these coins are relatively small in size. This is true of French 20 Francs Angel also. It is easy to trade with small size coins and that is the reason why French 20 Francs Angel became a popular legal tender. On the other hand, these coins have historic value and are in great demand amongst numismatists.
On the back side of the coin we find the inscription ’20 FRANCS’ along with the year when the coin was minted. These inscriptions are engraved in the midst of a wreath. On the top of the wreath the word ‘LIBERTE EGALITE FRANTERNITE’ is engraved.
A legend of the angel:
According to historians, Augustine Durpre designed this coin in the year 1792. The name of the angel engraved on the coin is ‘Louis D’or’. For having engraved the angel on the coin, Durpre was punished and was to be beheaded. Interestingly, Durpre escaped the beheading by bribing the guard with a coin of the angel which he had in his pocket and perhaps the guard helped him to escape. Interestingly again, Napoleon Bonaparte carried this coin of the angel in his pocket and he lost the coin before the famous war of ‘Waterloo’ and from then on Napoleon saw the downfall of his empire.
French 20 Francs Angel gold coin is one of the coins which were in circulation for a considerably short period of time. It is believed that this coin was in circulation during the period 1899 to 1906. Prior to this, this coin was in use during the years 1848-1849. During the period earlier to 1848, gold coins were in fact being minted but they were without the image of the Angel. Even with the short period of circulation, the coin has made a name amongst the numismatists.
The French 20 Francs Angel coin has a gross weight of 6.4516 grams with 90% purity. This coin with a diameter of 12 mm has gold content of 0.1867 0z. Most of the European gold coins have high gold content and these coins are relatively small in size. This is true of French 20 Francs Angel also. It is easy to trade with small size coins and that is the reason why French 20 Francs Angel became a popular legal tender. On the other hand, these coins have historic value and are in great demand amongst numismatists.
Wednesday, February 9, 2011
Gold Coin Options
Although many gold coins are available for an investor, only 2 main types stand out. The gold bullion coins and the rare gold coins. Gold bullion are strictly for a hedge against inflation; hence they form a good basis to own gold whereas numismatic gold coins or rare gold coins which are typically used to privately grow wealth over the long-term.
Gold Bullion Coins
The large market size for gold bullion coins makes them a favorite with many people. Gold bullion coins hold many benefits for their owners; security, safety, convenience and liquidity. But the best benefit of all is great potential profit as the coin’s value is directly related to the current gold price.
The Krugerrand from South Africa was the first modern issue gold bullion coin that surfaced in the market in 1967. This should not be surprising as South Africa has always led the pack in exporting gold; it is still the world’s leader in gold exports. The South African Krugerrand enjoyed its fame for a long time as many individuals took it as a means to possess gold. This is precisely the reason that the term ‘Krugerrand’ was interchangeably used with ‘gold coin’ during its hey days; just as one associated ‘Kleenex’ to facial tissue or ‘Xerox’ to photocopiers at the start of the respective industries.
But other countries caught on with South Africa's innovation with gold coins and started minting their own special gold bullion production. Now, the market offers the American Gold Eagle, the American Gold Buffalo, the Canadian Gold Maple Leaf, the Gold Australian Kangaroo and the Austrian Gold Vienna Philharmonic.
Rare Gold Coins
Rare gold coins can be collected for either investment purposes or just to own gold; some rare gold coin owners do not even bother to make a distinction of their collection.
US gold coins that were minted from 1795 to 1933 are classified as rare gold coins because the US Mint discontinued the minting for circulation. There were many denominations of rare gold coins distributed in the 138 years when these gold coins were minted. Sometimes, the US Mint minted various denominations of gold coins for commercial circulation such as $1.00, $2.50 (also known as Quarter Eagle), $3.00, $4.00, $5.00 (also known as Half Eagle), $10.00 (also known as Eagle) and $20.00 (also known as Double Edge).
Although small in size, the US Gold Dollar came in 3 types-I, II and III; it was minted between 1849 and 1889.
The Quarter Eagle's denomination is $2.50 and was minted between 1796 and 1929 sporting 7 different motifs.
The US gold coin that is stamped with $3.00 is the Indian Princess that saw its mintage from 1854 all the way to 1889. The US $4.00 gold coin was called ‘Stella’. It was minted as an experimental piece in 1879/80; hence there are very few pieces. The Half Eagle gold or US $5.00 gold coin came in 8 varieties of designs when it was minted.
The Gold Eagle of $10.00 came in 4 unique designs during its mintage between 1795 and 1933. The Double Gold Eagle of $20.00 is the largest among the US gold coins issued; it was minted between 1849 and 1933 with 2 designs.
These gold coins are in high demand because of the gold content in them as well as their beauty, rarity and historical relevance.
Gold Bullion Coins
The large market size for gold bullion coins makes them a favorite with many people. Gold bullion coins hold many benefits for their owners; security, safety, convenience and liquidity. But the best benefit of all is great potential profit as the coin’s value is directly related to the current gold price.
The Krugerrand from South Africa was the first modern issue gold bullion coin that surfaced in the market in 1967. This should not be surprising as South Africa has always led the pack in exporting gold; it is still the world’s leader in gold exports. The South African Krugerrand enjoyed its fame for a long time as many individuals took it as a means to possess gold. This is precisely the reason that the term ‘Krugerrand’ was interchangeably used with ‘gold coin’ during its hey days; just as one associated ‘Kleenex’ to facial tissue or ‘Xerox’ to photocopiers at the start of the respective industries.
But other countries caught on with South Africa's innovation with gold coins and started minting their own special gold bullion production. Now, the market offers the American Gold Eagle, the American Gold Buffalo, the Canadian Gold Maple Leaf, the Gold Australian Kangaroo and the Austrian Gold Vienna Philharmonic.
Rare Gold Coins
Rare gold coins can be collected for either investment purposes or just to own gold; some rare gold coin owners do not even bother to make a distinction of their collection.
US gold coins that were minted from 1795 to 1933 are classified as rare gold coins because the US Mint discontinued the minting for circulation. There were many denominations of rare gold coins distributed in the 138 years when these gold coins were minted. Sometimes, the US Mint minted various denominations of gold coins for commercial circulation such as $1.00, $2.50 (also known as Quarter Eagle), $3.00, $4.00, $5.00 (also known as Half Eagle), $10.00 (also known as Eagle) and $20.00 (also known as Double Edge).
Although small in size, the US Gold Dollar came in 3 types-I, II and III; it was minted between 1849 and 1889.
The Quarter Eagle's denomination is $2.50 and was minted between 1796 and 1929 sporting 7 different motifs.
The US gold coin that is stamped with $3.00 is the Indian Princess that saw its mintage from 1854 all the way to 1889. The US $4.00 gold coin was called ‘Stella’. It was minted as an experimental piece in 1879/80; hence there are very few pieces. The Half Eagle gold or US $5.00 gold coin came in 8 varieties of designs when it was minted.
The Gold Eagle of $10.00 came in 4 unique designs during its mintage between 1795 and 1933. The Double Gold Eagle of $20.00 is the largest among the US gold coins issued; it was minted between 1849 and 1933 with 2 designs.
These gold coins are in high demand because of the gold content in them as well as their beauty, rarity and historical relevance.
Sunday, December 5, 2010
Epitaph for the U.S. dollar
It is now getting more and more the clear that the strength of the dollar is not what it used to be. The US dollar has existed for around 100 years but as you look at the history of fiat currency, the US dollar as a fiat currency has already existed 39 years out of an average 80 years. Looking from this angle, it would seem that the US dollar is on its exit path. There are many reasons to indicate so.
The main reason
US dollar has evolved from being an asset-based currency into the currently debt based status. A few hundred centuries ago, money was strictly asset based through gold or silver with an intrinsic worth that you had it close with you all the time; you would be a case of ‘you are what you are worth’ quite literally.
We have had famous explorers such as Marco Polo who traveled around the world using European silver and gold to trade for Asian products like silk and spices, making gold and silver the widely acceptable monetary unit then until now, where daily commerce is performed via coin money. Coin money was also used in trade before the Civil War came on. Time and again in history, gold and silver were the preferred choices of trade, especially when the California gold rush saw a great natural supply to fuel the US economy.
Federal Reserve
The US Federal Reserve came on in early 1900s to streamline and regulate the banking processes. Silver and gold coins were the major form of currency but these were heavy and hard to carry and store. Hence, the Fed came up with certificates to replace the bulk of gold and silver which could be exchanged back to the precious metals. It put up a market value of $20 for every ounce of gold with a switch to paper money as the standard currency based on the gold exchange rate.
Gold and silver coins were considered real money; meaning, you are only as rich as the amount of these precious metals in your possession. This is called asset based money or currency which limited the amount of money in circulation in relation to the amount of gold and silver available. When you have such a currency that is controlled, there is no debt.
Simplicity
When paper money was introduced and became the standard currency form, its worth was based on the amount of gold and silver the nation had; meaning, you could only print one piece of paper money if the Fed had only one piece of gold of that worth.
It was all so simple until President Nixon came on the scene and took the US off of the gold standard.
The main reason
US dollar has evolved from being an asset-based currency into the currently debt based status. A few hundred centuries ago, money was strictly asset based through gold or silver with an intrinsic worth that you had it close with you all the time; you would be a case of ‘you are what you are worth’ quite literally.
We have had famous explorers such as Marco Polo who traveled around the world using European silver and gold to trade for Asian products like silk and spices, making gold and silver the widely acceptable monetary unit then until now, where daily commerce is performed via coin money. Coin money was also used in trade before the Civil War came on. Time and again in history, gold and silver were the preferred choices of trade, especially when the California gold rush saw a great natural supply to fuel the US economy.
Federal Reserve
The US Federal Reserve came on in early 1900s to streamline and regulate the banking processes. Silver and gold coins were the major form of currency but these were heavy and hard to carry and store. Hence, the Fed came up with certificates to replace the bulk of gold and silver which could be exchanged back to the precious metals. It put up a market value of $20 for every ounce of gold with a switch to paper money as the standard currency based on the gold exchange rate.
Gold and silver coins were considered real money; meaning, you are only as rich as the amount of these precious metals in your possession. This is called asset based money or currency which limited the amount of money in circulation in relation to the amount of gold and silver available. When you have such a currency that is controlled, there is no debt.
Simplicity
When paper money was introduced and became the standard currency form, its worth was based on the amount of gold and silver the nation had; meaning, you could only print one piece of paper money if the Fed had only one piece of gold of that worth.
It was all so simple until President Nixon came on the scene and took the US off of the gold standard.
A QUICK GUIDE TO Gold Bullion Coins
It is one of those special hobbies in which not everyone would indulge although there are no bounds for anyone who is interested in buying gold coins. However, there are many different types of gold coins on the market for you to consider including in your new or current collection. Others may want these gold coins for investment purposes.
The More Popular Gold Coins
The following lists some of the preferred gold coins by the public. They are:
American Gold Eagle
This gold coin began minting in 1986 by law with a specification of copper-silver alloy for a more sturdy appearance to endure against wear and tear. This gold coin of the American Gold Eagle became the nation’s official bullion gold with Lady Liberty carrying the torch on the front side. The American Eagle gold coins are available in 1/10oz, 1/4oz, 1/2oz and 1 full ounce weights.
South Africa Krugerrand
This gold coin is the product of South Africa where it is minted from a durable gold alloy. The image of the previous President of South Africa, Paul Kruger, is imprinted on one side with Springbok on the other side.
Chevronets
The gold Chevronets was introduced by Russia in 1701 to replace the nation’s Ruble in 1757. However, the Russian Revolution caused a temporary halt of the Chevronets’ minting until the revolution ended. The authorities resumed Chevronets production in an attempt to ease out the devaluing Ruble; however, production of the Chevronets halted again in 1926. The Moscow Olympics in 1980 saw the revival of the 1925 Chevronets as a commemoration of the grand and prestigious event.
Britannia Gold
Britannia gold is Britain’s pride and joy with 22 carat and a mixture of 91.7% gold and silver or copper. The Britannia became the British’s official coin amongst its gold bullion collection. Britannia gold coins are available in ten pound denomination of 1/10 ounce troy gold, twenty-five pound denomination of ¼ ounce troy gold and fifty pound denomination of ½ ounce troy gold.
Gold Panda
The Gold Panda was minted with 99.9% gold by the Chinese with the Temple of Heaven imprinted on one of its sides. Though minting was frozen in 2002, it was resumed after much popular demand by coin collectors.
Islamic Gold Dinar
Malaysia also produced its own Kelantanese Dinar in September 2006 where these gold dinars were to be used in that state alone for paying dowries in accordance with the state’s Islamic Law, purchase of merchandise and even savings.
Gold Maple Leaf
The Royal Canadian Mint produced this Gold Maple Leaf gold coin from its locally mined gold that is 99.9% pure gold. There are two versions of the Gold Maple Leaf: normal and deluxe standard. This Maple Leaf gold coin can fetch $1,000,000 on the market with its 100kg weight at 3cm thick and 55cm wide in 2007.
The More Popular Gold Coins
The following lists some of the preferred gold coins by the public. They are:
American Gold Eagle
This gold coin began minting in 1986 by law with a specification of copper-silver alloy for a more sturdy appearance to endure against wear and tear. This gold coin of the American Gold Eagle became the nation’s official bullion gold with Lady Liberty carrying the torch on the front side. The American Eagle gold coins are available in 1/10oz, 1/4oz, 1/2oz and 1 full ounce weights.
South Africa Krugerrand
This gold coin is the product of South Africa where it is minted from a durable gold alloy. The image of the previous President of South Africa, Paul Kruger, is imprinted on one side with Springbok on the other side.
Chevronets
The gold Chevronets was introduced by Russia in 1701 to replace the nation’s Ruble in 1757. However, the Russian Revolution caused a temporary halt of the Chevronets’ minting until the revolution ended. The authorities resumed Chevronets production in an attempt to ease out the devaluing Ruble; however, production of the Chevronets halted again in 1926. The Moscow Olympics in 1980 saw the revival of the 1925 Chevronets as a commemoration of the grand and prestigious event.
Britannia Gold
Britannia gold is Britain’s pride and joy with 22 carat and a mixture of 91.7% gold and silver or copper. The Britannia became the British’s official coin amongst its gold bullion collection. Britannia gold coins are available in ten pound denomination of 1/10 ounce troy gold, twenty-five pound denomination of ¼ ounce troy gold and fifty pound denomination of ½ ounce troy gold.
Gold Panda
The Gold Panda was minted with 99.9% gold by the Chinese with the Temple of Heaven imprinted on one of its sides. Though minting was frozen in 2002, it was resumed after much popular demand by coin collectors.
Islamic Gold Dinar
Malaysia also produced its own Kelantanese Dinar in September 2006 where these gold dinars were to be used in that state alone for paying dowries in accordance with the state’s Islamic Law, purchase of merchandise and even savings.
Gold Maple Leaf
The Royal Canadian Mint produced this Gold Maple Leaf gold coin from its locally mined gold that is 99.9% pure gold. There are two versions of the Gold Maple Leaf: normal and deluxe standard. This Maple Leaf gold coin can fetch $1,000,000 on the market with its 100kg weight at 3cm thick and 55cm wide in 2007.
Thursday, October 14, 2010
Why It’s Important to Invest in Gold
In recent years, the demand for gold coins has shot to very great heights thus increasing its prices. It is true to say that more investors are becoming very interested in this precious commodity because of its various properties, especially the fact that it is a liquid form of asset that can come in handy in times of need.
The commodity, as well as its stocks, have strongly rocketed in the bull market in recent times creating increased profits for those who have bought in. Although the price of this precious metal is determined by its level of supply and demand, its purchasing power and value have remained steadfast, increasing instead of decreasing, as is the case with most assets.
What makes the commodity a bull market is its outstanding fundamentals. Although the world’s gold mines are playing their part in supplying the commodity, the tons of gold produced are not enough to meet the ever increasing demand. There is an acute shortage of gold, especially because it is demanded for different purposes, including investment and industrial use, as well as jewelry.
One of the reasons it is important to buy gold coins is the fact that their value is increasing by the year, and so are the prices. This means that if you manage to buy a good quantity of gold at the moment, in the next few months or years you can see substantial growth. The commodity is very convenient as it saves investors from incurring losses since it is not affected by most things that affect other forms of investment assets. This factor greatly reduces major risks to the advantage of the buyer.
As in all products, it is important to do some research and investigate the bullish factors of gold to ensure that your decision is a good one and that you have an investment strategy that will work for you. One of the most important things to understand is the gold market behavior, as well as demand-supply trends and the prices of gold.
The commodity, as well as its stocks, have strongly rocketed in the bull market in recent times creating increased profits for those who have bought in. Although the price of this precious metal is determined by its level of supply and demand, its purchasing power and value have remained steadfast, increasing instead of decreasing, as is the case with most assets.
What makes the commodity a bull market is its outstanding fundamentals. Although the world’s gold mines are playing their part in supplying the commodity, the tons of gold produced are not enough to meet the ever increasing demand. There is an acute shortage of gold, especially because it is demanded for different purposes, including investment and industrial use, as well as jewelry.
One of the reasons it is important to buy gold coins is the fact that their value is increasing by the year, and so are the prices. This means that if you manage to buy a good quantity of gold at the moment, in the next few months or years you can see substantial growth. The commodity is very convenient as it saves investors from incurring losses since it is not affected by most things that affect other forms of investment assets. This factor greatly reduces major risks to the advantage of the buyer.
As in all products, it is important to do some research and investigate the bullish factors of gold to ensure that your decision is a good one and that you have an investment strategy that will work for you. One of the most important things to understand is the gold market behavior, as well as demand-supply trends and the prices of gold.
Monday, October 11, 2010
Gold and the dollar
The demand for buying gold coins is increasing with every passing day. Since this commodity is known for withstanding depreciation, more investors regard it highly as the protector of their wealth. This is not only in the case of inflation, but also against other world currencies depending on what part of the world an buyer is situated in.
Gold has a good reputation, most especially when it comes to the US dollar, which is the main trading currency of the world. This commodity has proven to be an effective hedge surrounding the fluctuation of the dollar. This aspect about the precious commodity had been formalized in recent statistics making the demand shoot upwards and the price increase.
Research has proven that over the years gold has been an effective dollar hedge comparing its price and the exchange rate of other currencies of the world. It has been found that it correlated consistently negatively with the US dollar across all rates of exchange and over time. Despite economic turbulence over some periods, gold stood firm protecting investors against the instability and the fluctuation of exchange rates.
Other studies have been conducted and have proved that this precious commodity is not only a potent hedge protection against the US dollar, but also provides the dollar with protection when it is at the verge of losing value. This makes the loss very small, which is cleared by the appreciation periods of the dollar.
With this kind of knowledge and information, most investors are becoming wise enough to invest in this commodity rather than other kinds of assets as they know that its value is going to save them during the hard economic times. Gold is not losing value by the day, on the contrary, it is becoming more and more expensive and hard to get as the demand for it is on the increase. Investors and those who know the real value of this commodity are doing everything possible to have it available as a means of making money and maintaining wealth.
Gold has proven to be the most valued commodity over the years and that is not likely to change any time soon. So the more one can manage to invest in this commodity, the better it is for that individual or institution. Those looking for ways to improve their wealth, especially investors, should consider investing in gold as it is never been worth zero.
Gold has a good reputation, most especially when it comes to the US dollar, which is the main trading currency of the world. This commodity has proven to be an effective hedge surrounding the fluctuation of the dollar. This aspect about the precious commodity had been formalized in recent statistics making the demand shoot upwards and the price increase.
Research has proven that over the years gold has been an effective dollar hedge comparing its price and the exchange rate of other currencies of the world. It has been found that it correlated consistently negatively with the US dollar across all rates of exchange and over time. Despite economic turbulence over some periods, gold stood firm protecting investors against the instability and the fluctuation of exchange rates.
Other studies have been conducted and have proved that this precious commodity is not only a potent hedge protection against the US dollar, but also provides the dollar with protection when it is at the verge of losing value. This makes the loss very small, which is cleared by the appreciation periods of the dollar.
With this kind of knowledge and information, most investors are becoming wise enough to invest in this commodity rather than other kinds of assets as they know that its value is going to save them during the hard economic times. Gold is not losing value by the day, on the contrary, it is becoming more and more expensive and hard to get as the demand for it is on the increase. Investors and those who know the real value of this commodity are doing everything possible to have it available as a means of making money and maintaining wealth.
Gold has proven to be the most valued commodity over the years and that is not likely to change any time soon. So the more one can manage to invest in this commodity, the better it is for that individual or institution. Those looking for ways to improve their wealth, especially investors, should consider investing in gold as it is never been worth zero.
Thursday, August 26, 2010
Gold Coin Sales Increased Across the Board Last Week
Slower numbers of numismatic gold coin sales have picked up over the last week. According to US Mint sales figures, gold coin buyers have increased sales across the board of numismatic rare gold coins. Also, figures show an increase over the last week in bullion sales as well.
The increase in demand for gold coins included First Spouse Gold Coins, Buffalo Gold proof coins, and Gold Eagles to name a few.
New into gold circulation the James Buchanan Presidential Dollars deputed to orders of 46,096 of the 2 coin rolls. The number is 2,024 lower than the Franklin Pierce debut. Though too early to tell, the James Buchanan $1 US Mint coin may end up being the lowest minted presidential coin.
The Platinum Eagles went on sale August 12th and by August 19th had reached their 10,000 limit. The Platinum Eagles coins were officially added to the US Mint sold out list on August 23rd.
The 2010 Platinum Eagles sold out faster than the last years mintage which took just over a week to sell out.
The increase in demand for gold coins included First Spouse Gold Coins, Buffalo Gold proof coins, and Gold Eagles to name a few.
New into gold circulation the James Buchanan Presidential Dollars deputed to orders of 46,096 of the 2 coin rolls. The number is 2,024 lower than the Franklin Pierce debut. Though too early to tell, the James Buchanan $1 US Mint coin may end up being the lowest minted presidential coin.
The Platinum Eagles went on sale August 12th and by August 19th had reached their 10,000 limit. The Platinum Eagles coins were officially added to the US Mint sold out list on August 23rd.
The 2010 Platinum Eagles sold out faster than the last years mintage which took just over a week to sell out.
Thursday, August 5, 2010
Things to Know About the 20 Saint Guadens Gold Coins
The 20 Saint Guadens gold coins are also popularly known as the Saint Gaudens Double Eagle or Double Eagle gold coins. These coins were issued by the US Mint from 1907 to 1933. The coins were designed by the acclaimed US sculptor, Augustus Saint-Gaudens. The coins bear the Saint-Gaudens mark, below the date.
The history of the 20 Saint Gaudens gold coins goes back to the 20th century. Saint Gaudens was hired by President Theodore Roosevelt to design coins for the American coinage. However, Saint Gaudens could only design the Double Eagle and the Indian Eagle gold coins before he died. These are considered as some of the most popular designs among hobbyists and collectors.
The value of these numismatic coins is decided by their state of deterioration. The coin’s condition is evaluated by the process of coin grading. The coin grading system evaluates a coin based on its surface, design, element, visible appeal and luster.
$20 Saint Gaudens Gold Coins: The High Relief
The term ‘High Relief’ is often used to describe these coins. Twenty four Proof Double Eagles Saint Gaudens were minted in 1907. These coins were made of 24-karat pure gold. Later on, 11,250, more High Relief $20 Saint Gaudens coins were issued and circulated. However, the images on the coins made them heavier and difficult to store. The original Saint Gaudens coins were then modified to produce a flatter version.
$20 Saint Gaudens Gold Coins of 1908
These $20 Saint Gaudens gold coins are famous because of the omission of the phrase ‘In God We Trust’. The phrase was also omitted from a few coins manufactured in 1907. This was done on the directions of President Roosevelt. The phrase was reintroduced in the Saint Gaudens coins minted in 1908.
The Last Saint Gaudens Gold Coins of 1933
In 1933, owning gold coins were declared illegal by the US government. This was done to stabilize the economy and stop the hoarding of gold currency during the Great Depression of 1939-1940. At this time, all gold coins were melted down. Two Double Eagle gold coins, which survived the melt down, were presented by the US Mint, to the U.S. National Numismatic Collection, at the Smithsonian Institute. These were the only two known legal specimens. However, in 1952, eight more 1933 Double Eagle gold coins were seized by the Secret Service. These coins were seized because they were thought to be stolen from the US Mint.
The history of the 20 Saint Gaudens gold coins goes back to the 20th century. Saint Gaudens was hired by President Theodore Roosevelt to design coins for the American coinage. However, Saint Gaudens could only design the Double Eagle and the Indian Eagle gold coins before he died. These are considered as some of the most popular designs among hobbyists and collectors.
The value of these numismatic coins is decided by their state of deterioration. The coin’s condition is evaluated by the process of coin grading. The coin grading system evaluates a coin based on its surface, design, element, visible appeal and luster.
$20 Saint Gaudens Gold Coins: The High Relief
The term ‘High Relief’ is often used to describe these coins. Twenty four Proof Double Eagles Saint Gaudens were minted in 1907. These coins were made of 24-karat pure gold. Later on, 11,250, more High Relief $20 Saint Gaudens coins were issued and circulated. However, the images on the coins made them heavier and difficult to store. The original Saint Gaudens coins were then modified to produce a flatter version.
$20 Saint Gaudens Gold Coins of 1908
These $20 Saint Gaudens gold coins are famous because of the omission of the phrase ‘In God We Trust’. The phrase was also omitted from a few coins manufactured in 1907. This was done on the directions of President Roosevelt. The phrase was reintroduced in the Saint Gaudens coins minted in 1908.
The Last Saint Gaudens Gold Coins of 1933
In 1933, owning gold coins were declared illegal by the US government. This was done to stabilize the economy and stop the hoarding of gold currency during the Great Depression of 1939-1940. At this time, all gold coins were melted down. Two Double Eagle gold coins, which survived the melt down, were presented by the US Mint, to the U.S. National Numismatic Collection, at the Smithsonian Institute. These were the only two known legal specimens. However, in 1952, eight more 1933 Double Eagle gold coins were seized by the Secret Service. These coins were seized because they were thought to be stolen from the US Mint.
Tuesday, June 29, 2010
Surging Gold: Coins in High Demand
After a brief lull, gold is fast regaining its popularity as the choicest investment option, especially in the trying times. The metal proved to be the best alternative to the volatile paper currency at the time of economic downturns. During the global recession of 2008, gold surged to record highs as the investors the world over began converting their cash holdings into the yellow metal. As the world economy seemed to be returning to normalcy, the commodity witnessed price correction, more significantly from December 2009 onwards. However, with the progress of the Fiscal Year 2010, the news of the Euro Zone Crisis started pouring in and acting as a major damper to the already shaky market sentiments. The fears of a second round of troubles gave a fresh boost to the gold demand in all forms, including coins.
The European sovereign debt crisis has made gold bullion particularly sought-after in Europe. The South African gold coin Krugerrand is currently enjoying higher valuation of the Canadian bullion, Gold Maple leaf. Meanwhile, the premium on the British bullion, Gold Sovereign is accelerating by the day. However, rooting to the concerns over the Euro Zone crisis, the rest of the world economy has made global investors wary of the foreign exchange rates moving against their home currencies. The sharp rise in the demand for the United States Gold Eagles is a proof of the sagging market view. The US bullion deliveries in the month of May 2010 shot up to double on a year-on-year basis. The US is also plagued by its own slow recovery and rising national debt, which has touched the unprecedented levels. The figure is estimated to be over $13 trillion!
The exact implication of the Greece-led instability is still a matter of debate, with conflicting news and opinions coming up often. Though the gold prices remain high, the uncertainty is making the investors wary of offloading their bullion inventories. However, in an interesting development, a member of the United States House of Representatives Anthony David Weiner from New York has accused Goldline Inc. of artificially promoting the demand for the American Eagles. In a statement from his office, the company is defined as “aggressive sales tactics, conservative spokespeople and rhetoric to sell over-priced gold coins to unsuspecting consumers.” It is hard to ascertain the proportion of the total coin demand so created and what comes out of the political roe over the issue. Meanwhile, the demand for BU and Mint State 20 cents is also picking up, such that much of the earlier price correction has already been covered.
The European sovereign debt crisis has made gold bullion particularly sought-after in Europe. The South African gold coin Krugerrand is currently enjoying higher valuation of the Canadian bullion, Gold Maple leaf. Meanwhile, the premium on the British bullion, Gold Sovereign is accelerating by the day. However, rooting to the concerns over the Euro Zone crisis, the rest of the world economy has made global investors wary of the foreign exchange rates moving against their home currencies. The sharp rise in the demand for the United States Gold Eagles is a proof of the sagging market view. The US bullion deliveries in the month of May 2010 shot up to double on a year-on-year basis. The US is also plagued by its own slow recovery and rising national debt, which has touched the unprecedented levels. The figure is estimated to be over $13 trillion!
The exact implication of the Greece-led instability is still a matter of debate, with conflicting news and opinions coming up often. Though the gold prices remain high, the uncertainty is making the investors wary of offloading their bullion inventories. However, in an interesting development, a member of the United States House of Representatives Anthony David Weiner from New York has accused Goldline Inc. of artificially promoting the demand for the American Eagles. In a statement from his office, the company is defined as “aggressive sales tactics, conservative spokespeople and rhetoric to sell over-priced gold coins to unsuspecting consumers.” It is hard to ascertain the proportion of the total coin demand so created and what comes out of the political roe over the issue. Meanwhile, the demand for BU and Mint State 20 cents is also picking up, such that much of the earlier price correction has already been covered.
Friday, June 18, 2010
The Advancing Gold Futures
The significance of gold as a measuring standard of wealth and a viable investment option has been recognized since ancient times. Even after the dissolution of the Gold Standard worldwide, the yellow metal remains the most important asset for the various Central Banks across the globe. In such times, the demand surges in every quarter from national treasuries to retail investors. The recent global recession reestablished the authority of gold coins for hedging, investment, and even for speculative purposes.
The gold futures got a fresh impetus on June 15, 2010, amidst the growing concerns about the state of global economy. The August-delivery gold futures increased by 0.8% to reach $1,234.40 on the New York Mercantile Exchange, after hovering around $1,220 for a couple of days. Amidst concerns over the rising sovereign debt levels and weakening US Dollar, gold is increasingly seen as an effective alternative. The Dollar Index (DXY) was down by 0.7% to 85.93, while Euro ended approximately 1% higher than the Dollar. The Dollar Index measures the price of the US Dollar, relative to six major currencies of the world. The Greece-led economic crisis that came into picture in the first quarter of 2010 sent warning signals in the already ailing world economy. The impact of these events in the Euro Zone could not be assessed completely until date. As more and more grim news and analysis began pouring in, the fears of a double dip grew stronger.
The volatile situation in the European Union, in general, and the downgrading of Greece’s credit rating by Moody’s Investor Service on Tuesday, are the other major factors currently driving the gold prices. The credit rating agency slashed the ratings to non-investment grade, pointing out the inherent risks of IMF-sponsored proposed bailout packages for Greece. The Chicago-based Future Path Trading’s futures analyst, Frank Lesh stated that it is still uncertain whether the European Union is out of ‘danger’ and on the path of recovery. Nevertheless, the popular sentiments remain highly skewed in favor of gold. According to analyst Stephen Platt from Archer Financial Services in Chicago, following the past week’s price fluctuations, the commodity appears to be consolidating. Ever since the debt crisis became apparent, the commodity has become pricier by 12%. For the first time in almost four decades, since the gold futures were introduced on the New York Mercantile Exchange, the bullion touched $1,245.60.
The gold futures got a fresh impetus on June 15, 2010, amidst the growing concerns about the state of global economy. The August-delivery gold futures increased by 0.8% to reach $1,234.40 on the New York Mercantile Exchange, after hovering around $1,220 for a couple of days. Amidst concerns over the rising sovereign debt levels and weakening US Dollar, gold is increasingly seen as an effective alternative. The Dollar Index (DXY) was down by 0.7% to 85.93, while Euro ended approximately 1% higher than the Dollar. The Dollar Index measures the price of the US Dollar, relative to six major currencies of the world. The Greece-led economic crisis that came into picture in the first quarter of 2010 sent warning signals in the already ailing world economy. The impact of these events in the Euro Zone could not be assessed completely until date. As more and more grim news and analysis began pouring in, the fears of a double dip grew stronger.
The volatile situation in the European Union, in general, and the downgrading of Greece’s credit rating by Moody’s Investor Service on Tuesday, are the other major factors currently driving the gold prices. The credit rating agency slashed the ratings to non-investment grade, pointing out the inherent risks of IMF-sponsored proposed bailout packages for Greece. The Chicago-based Future Path Trading’s futures analyst, Frank Lesh stated that it is still uncertain whether the European Union is out of ‘danger’ and on the path of recovery. Nevertheless, the popular sentiments remain highly skewed in favor of gold. According to analyst Stephen Platt from Archer Financial Services in Chicago, following the past week’s price fluctuations, the commodity appears to be consolidating. Ever since the debt crisis became apparent, the commodity has become pricier by 12%. For the first time in almost four decades, since the gold futures were introduced on the New York Mercantile Exchange, the bullion touched $1,245.60.
Tuesday, June 1, 2010
Transitional Gold Coins
United States gold coin production has produced several instances of two different designs being produced simultaneously, or within the same year. These are scaled transitional coins and they make for a very interesting collecting focus for the gold coin buyer.
The one dollar gold dollar denomination, the most obvious transitional issue occurred in 1854 when both the Type 1 and the Type 2 gold coin issues were produced. Both of these are relatively common although the Type 2 becomes scarce in the higher grades and rare in MS64 or better. In 1856 two designs were produced: the Type 2 and the Type 3. Since the Type 2 was only made in San Francisco during this year and there are no 1856-S Type 3 gold dollars this isn’t a transitional issue in the sense of the 1854.
There are many other transitional issues, such as the quarter eagle denomination. In 1796 2 coins were minted, one with No Stars and With Stars in the designs. Both of these are rare in all grades and because of price constraints they could be considered one more difficult coins to acquire in a transitional set. The next transitional issue occurred in 1834 when both the Capped Bust and the Classic Head quarter eagles were struck at the Philadelphia mint. The former is an extremely rare coin in all grades while the latter is common in grades up to and including MS63.
The largest group of transitional issues exist in the early half eagles. The reason for these transitional issues tends to be different than, for the 1854 Type 1 and Type 2 dollar when the design was changed to facilitate improved striking.
The twenty dollar U.S. gold coin contains more interesting transitional coins for the specialist. The first of these is the 1866-S No Motto and With Motto. The former is a very scarce coin in all grades and it remains unknown in Uncirculated. The latter is fairly common in circulated grades and scarce in Uncirculated with nearly all of the two to three dozen known in Uncirculated grading MS60 to MS61.
The termination of the Liberty Head design in 1907 meant that an interesting group of transitional coins from this year are available. The 1907 Liberty Head issues were produced at the Philadelphia, Denver and San Francisco mints and all three are common in grades up to MS63. The 1907-S is very rare.
Augustus St. Gaudens’ redesign of the double eagle was introduced in 1907. Most transitional collections would include a High Relief from this year as well as a 1907 No Motto. Both of these coins are readily available in Uncirculated grades and the No Motto is abundant even in MS65 to MS66.
The one dollar gold dollar denomination, the most obvious transitional issue occurred in 1854 when both the Type 1 and the Type 2 gold coin issues were produced. Both of these are relatively common although the Type 2 becomes scarce in the higher grades and rare in MS64 or better. In 1856 two designs were produced: the Type 2 and the Type 3. Since the Type 2 was only made in San Francisco during this year and there are no 1856-S Type 3 gold dollars this isn’t a transitional issue in the sense of the 1854.
There are many other transitional issues, such as the quarter eagle denomination. In 1796 2 coins were minted, one with No Stars and With Stars in the designs. Both of these are rare in all grades and because of price constraints they could be considered one more difficult coins to acquire in a transitional set. The next transitional issue occurred in 1834 when both the Capped Bust and the Classic Head quarter eagles were struck at the Philadelphia mint. The former is an extremely rare coin in all grades while the latter is common in grades up to and including MS63.
The largest group of transitional issues exist in the early half eagles. The reason for these transitional issues tends to be different than, for the 1854 Type 1 and Type 2 dollar when the design was changed to facilitate improved striking.
The twenty dollar U.S. gold coin contains more interesting transitional coins for the specialist. The first of these is the 1866-S No Motto and With Motto. The former is a very scarce coin in all grades and it remains unknown in Uncirculated. The latter is fairly common in circulated grades and scarce in Uncirculated with nearly all of the two to three dozen known in Uncirculated grading MS60 to MS61.
The termination of the Liberty Head design in 1907 meant that an interesting group of transitional coins from this year are available. The 1907 Liberty Head issues were produced at the Philadelphia, Denver and San Francisco mints and all three are common in grades up to MS63. The 1907-S is very rare.
Augustus St. Gaudens’ redesign of the double eagle was introduced in 1907. Most transitional collections would include a High Relief from this year as well as a 1907 No Motto. Both of these coins are readily available in Uncirculated grades and the No Motto is abundant even in MS65 to MS66.
Thursday, May 27, 2010
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.
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.
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