US Gold Coins

#1 US Gold Coin Buyer Las Vegas & Henderson

History

Gold has long been a part of the history of mankind. It has been a store of wealth and a basis of support for currency issued by nations. It has led to war, helped to win wars and in some cases, prevented wars and almost from the beginnings of civilization has been used as a means of payment between people. In the beginnings of mankind’s use of the metal, it was seen as a commodity to be possessed only by royalty. After a time, it began to be used as a way to conduct commerce between individuals and nations. The importance of gold to civilization and its involvement in the ushering in of new nations cannot be minimized. The birth of the United States is no exception. During the Revolutionary War it was necessary for the fledgling nation to develop a currency and, as is the case with most currencies, people need to have confidence in that currency. As gold and silver have been viewed as “real” money, currency was created that could be redeemed in the precious metals. The ultimate ability of the government to make good on the ability to convert currency into its equivalent in precious metal however was, and continues to be, something for another story.

Gold has been made into coins for use in commerce for about three thousand years. In 1792, the United States tried its hand at issuing its own coinage. In fact, the use of gold (and silver) was made part of the Constitution of the United States to do so, and once again, as has been the case in so many nations before it, gold was featured prominently as money to support the nation. One clear monetary policy derived from the Constitution is that only gold and silver coins and currency backed by these metals can be legal tender. The Coinage Act of 1792, also referred to as the Mint Act, because it established the first United States Mint to produce coinage, issued the first coins of the United States, including gold coins. It mandated the weight and purity of three gold coins and denominations: the “Eagle” or Ten Dollar coin, the “Half Eagle” or Five Dollar coin and the “Quarter Eagle” or $2.50 coin. The first of these to actually be produced was the five dollar gold piece in 1795, with the ten dollar gold piece following later that year. The $2.50 gold piece was first issued in 1796. These same denominations continued to be issued, albeit in differing varieties, until 1933. Other denominations of gold coins were tried throughout the years with varying levels of acceptance. Gold one dollar coins were first authorized in 1849 and continued until 1889. Three dollar gold coins were authorized in 1853 and first produced in 1854 also lasting until 1889. In 1879 and 1880 a four dollar gold coin was produced purely for consideration as a pattern coin, however the “Stella” as it was named, was never produced for circulation. Other gold coins have been minted over the years that were not intended for circulation. These coins, referred to as commemoratives, and beginning in 1903 with the Louisiana Purchase gold dollar, were generally created and issued to commemorate some event of particular historical significance.

Value

In 1933, United States gold coin mintage ceased as a direct result of Executive Order 6102 signed by President Franklin Delano Roosevelt in response to the hoarding of gold coins resulting from the economic impact of the Great Depression. This order actually made it illegal for private citizens to own gold, beyond small quantities or numismatic rarities. President Gerald Ford reversed the executive order in 1974. In 1985, under the Gold Bullion Coin Act, the United States began producing gold bullion coins in 1986 beginning with the American Gold Eagle, with a face value of $50, however these bullion gold coins consistently trade for values that are tied to the current spot price of gold in the market which means that the coins may constantly change in value either up or down with the market on a daily basis.

We Buy US Gold Coins

We want to buy your U.S. gold coins and as a business it is our pledge to offer you the best value for your coins, however, always remember that the prices you may find online or in price guides usually represent the highest retail value for the coin. As a trusted dealer we will have our coin specialists evaluate your coins at no cost and offer you a price that is both fair for you, but that also allows us to realize a reasonable profit.