Learn The History Of American Gold Coins With Gold-Coin.com
November 9, 2009 – The history of American gold coins was born in 1795, when the US Mint first struck gold coins. Gold was valued at $19.39 per ounce then, and fiat currency was yet non-existent for our young nation. US gold coins come from seven different mints, and the face value for American gold coins ranges from $1 on a historic coin, to $50 on the modern-day, one-ounce, American Eagle.
The history of American gold coins grew thicker in 1933, when President Franklin Roosevelt made it illegal for US citizens to hoard gold bullion. Roosevelt ordered all gold bullion to be removed from circulation and returned to the US Treasury. Over 131 million ounces of gold were recovered and melted down from 1933 to 1971, and millions of would-be American rarities were lost forever. When President Richard Nixon ceased the gold confiscation and removed the United States from the Gold Standard in 1971, the United States reclaimed the right to print and spend irrational amounts of money.
After President Nixon legalized gold ownership, millions of pre-1933 US coins became very rare and valuable. While some varieties of pre-1933 coinage are extremely rare and obscure, investors tend to purchase the commonly traded coins that have been certified as Mint State. This way, both privacy and liquidity are retained with no government interference.
Experts believe that less than 1% of pre-1933 US coins have survived until our day. Their beauty, intriguing history, and beneficial portfolio utilization make these coins valuable for coin collectors and savvy investors. Learn more about American gold coins at www.USMint.gov, or call www.Gold-Coin.com at 800-300-0715.
Stewart Lawson
Senior Staff Writer - Gold-Coin.com
