Did You Know: The 1933 Saint-Gaudens Double Eagle is one of the rarest coins in the world, with only 13 in existence. One of them sold for a staggering $18.9 million in 2021! Such gold dollar coin value seems fascinating!
Several factors play a significant part in the high gold dollar coin value. The primary reason for their high value is the dollar coins' historical significance, representing a particular era or historical event in the USA. Let's examine why gold dollar coins hold such high value and explore the various reasons behind it.
Coin designs are intricately woven with cultural symbolism. These tiny, metallic discs are home to historical figures, national emblems, famous landmarks, and traditional artwork. In addition to being a visual treat, this symbol fusion serves as a moving reminder of the rich cultural legacy that forms a country.
Coins with historical significance become real-life storytellers, narrating the events that are unfolding in a country's history. Every design decision consciously attempts to capture significant occasions, achievements, and important personalities. When handling these coins daily, people inadvertently participate in a historical communion, strengthening their ties to the past.
Creating an image or motif on a coin or note requires great skill, patience, and precision. There is a vast universe of artistry to explore when it comes to appreciating the artistic elements and presentation of coins. One example is the $20 gold Double Eagle by Augustus Saint-Gaudens, often regarded as one of the most iconic coins in US history.
Although coin collecting may have originated in ancient Rome, the Renaissance saw its rise in popularity. That's when its association with the affluent elite became known as the "hobby of kings".
Fortunately, numismatics no longer requires you to be a king to be interested in it! The American Numismatic Association and the Canadian Numismatic Association arranged the first-ever international coin convention in August 1962. The process of collecting coins usually starts with gathering and preserving coins that are found in circulation but are kept because of their unique appearance.
Coin collecting can start as a keepsake from a foreign trip or as a result of unexpectedly finding an extremely old coin in use. Coin collecting is one of the sporadic hobbies, but it can also get costly because beautiful, rare coins that catch your eye can sometimes fetch very high prices. Instead, collecting coins as a hobby can also net you large sums of money in return for a historical coin you can obtain.
Have you ever heard of the legendary coin collector Louis Eliasberg? He was a man on a mission! A well-known coin collector, he was the only man to collect a complete set of renowned United States coins.
A coin's value can vary greatly depending on its type, and several factors influence this. Here is a quick summary of how the value of various coin types can differ:
Large quantities of bullion coins like American Eagles are produced to satisfy investor demand, but because the metals are rare, they may still be valuable. A bullion coin's weight, fineness, and current metal price affect its value.
These are produced using a premium minting technique. Because of their restricted mintage and emphasis on exclusivity, proof coins are intrinsically rare, and their scarcity enhances their collector value.
The value of rare ancient coins can vary significantly depending on historical significance, condition, rarity, and collectors' current demand. While some ancient coins may only be worth a few dollars, others may be worth thousands or even millions of dollars.
Generally, a coin in circulation will always be worth its face value. There are very few exceptions.
Some gold coins are rare due to limited mintage, historical occurrences, or production flaws. Collectors of these rare coins can pay outrageous sums of money for them.
Coins are released to honor a notable person or public figure, commemorate a significant occasion, or both. Collector sets are available in proof and uncirculated condition. Coins with historical significance or limited mintages that are rare can command much higher prices.
Coins bearing inscriptions, commemorating texts, historical occasions, or minting years will have a high value. Ancient coin inscriptions can provide insights into the social, political, and religious climate of the period. They can help us understand the foremost ideologies, commercial routes, and governing classes' support for different forms of art and religion.
The US Liberty Head series is a highly sought-after gold dollar coin. It features a distinctive liberty head design with the minting year inscriptions signifying the period of production and circulation. The historical significance of this era raises the value of gold dollar coins.
Mint marks are tiny symbols or marks that serve as a coin's unique identifier of the mint. They could be inscriptions, symbols, or letters. The rarity and value of a coin can be significantly determined by its mint marks. Coins with and without mint marks can have different values, though, based on the mint and the year.
For instance, the US gold dollar coins struck in Dahlonega (designated with a "D") or Charlotte (marked with a "C") are very collectible. Due to their smaller mintages and historical significance, these coins from the mid-19th century are highly sought-after and valuable by collectors.
Coins minted to commemorate an event or victory feature an inscription about the occasion, known as the commemorative text. These coins are highly valued due to their unique design, limited mintage, and special inscriptions.
For instance, the Lewis and Clark Exposition coin, minted in 1904, is the only American coin with two heads and represents the historical event of the Lewis and Clark Expedition to the Pacific Ocean. The Lewis and Clark Exposition occurred in Portland, Oregon, to celebrate the expedition's centennial. The coin's unique inscriptions include "LEWIS CLARK EXPOSITION PORTLAND ORE" and the date "1904" at the bottom.
A coin's unique features and imperfections can add significant value to it. For example, a mistake caused some of the gold dollar coins struck in 1853 at the Charlotte Mint to turn out differently. They wore a wreath that was not the typical wreath. Because few of these coins were produced, coin collectors will find them even more unique and valuable.
How clear and well-kept the writing on a coin can make a big difference in its worth. If the words and pictures on a coin have become hard to see because they've been worn away, that coin might not be worth as much as one where everything is still easy to see and read.
In an interview with David Vagi, a coin grading expert and a leading precious metals dealer in the USA, he shared his thoughts.
‘‘In old times coins were issued to facilitate commerce however in old times they had more profound function in an era when there weren’t newspapers, internet and many other sources of information, coins were extremely important in terms of disseminating information by authorities, so quite often their designs contain information not found anywhere else.’’
-David Vagi (NGC coin grade expert)
In a same interview David continued ‘‘Holding something that is 1500-2000 years old is a transformative experience and in someway it can help bring you closer to those lost ancient worlds’’
-David Vagi (NGC coin grade expert)
We at BOLD Precious Metals completely agree with David's statement. The same logic applies to coins commemorating significant events in US history, notably the American Revolution and beyond.
The value of a coin can be significantly influenced by its relative scarcity. A smaller gold coin, such as the 1899 Gold Half Eagles with a very small availability, is more expensive than a modern 1 oz Gold American Eagle. In this instance, the 1899 Half Eagle's scarcity raised its price just as much as its historical significance would.
The term "mintage" describes the total quantity of coins produced by a licensed mint. Determining which coins are "low-mintage" can be challenging. Numismatists assess a piece's scarcity using various factors, including surface design, proof quality, and production date.
Massive amounts of US coins have been melted over the previous 150+ years for various reasons. Coinage surpluses, wars, or rising bullion prices were some of the reasons why large quantities of coins were eventually melted.
When President Franklin D. Roosevelt issued an emergency order outlawing the private ownership of gold in 1933, there was a melting frenzy. In addition to exchanging enormous amounts of coinage for paper money, the public also sent unreleased amounts of US gold coins to be melted down.
Because of this, even though many $20 Saint Gaudens Double Eagles struck from the 1920s and 1930s have high mintages, they are incredibly rare. For instance, of the 180,000 pieces minted in total, less than 20 can be found today.
While collecting coins, there are a few questions that come across about the coin, including
These questions can be answered simply by using the help of NGC and PCGS grading companies. These companies guarantee the authenticity and genuineness of the coin and also follow the grading standards by claiming the coins are not overgraded.
Coins are valued according to their condition and rarity. "The better the condition of a coin, the higher its worth will be". Another factor is authentication and genuineness. When a dealer sells a coin, he wants the buyer to believe it is of the highest grade possible so he can charge a higher price.
The majority of collectors lack the expertise and understanding necessary to determine a coin's precise grade. In the past, the buyer had to trust the dealer's word, and frequently, dealers would falsify a coin's grade in order to make enormous profits.
As you can see, there can be significant price variations for the same coin in different grades. In the 1980s, coin grading services first appeared. They provide objective assessments of coin condition.
Since their founding roughly 30 years ago, the two biggest grading services, PCGS and NGC, have graded nearly 70 million coins. However, they do not value or appraise the coins. The market determines the coin's value after the graders merely assign a numerical grade to the coins.
The Sheldon coin grading scale is used to assess a coin's value. It is based on elements including the coin's luster, degree of wear, and manufacturing quality. A coin is given a number between 1 and 70 in addition to an adjective like excellent, very fine, poor, or mint state. The grade is indicated as "F-15" or "MS-70".
Although grading is subjective, expert coin grading services are available. Knowing how to grade coins is essential for collectors to assess a coin's worth and validate other people's grades.
| Number | Grade |
|---|---|
| 1 | Poor |
| 2 | Fair |
| 3 | Very Fair |
| 4-6 | Good |
| 7-10 | Very Good |
| 12-15 | Fine |
| 20-30 | Very Fine |
| 40 | Extremely Fine |
| 50 | Uncirculated Quality |
| 60 (MS-60) | Mint State |
| 65 (MS-65) | Mint State |
| 70 (MS-70) | Mint State |
Did you know cleaning your rare coin can decrease its value: Avoid using any dangerous chemicals or acids to clean rare or historical gold dollar coins. These substances have the potential to harm the coin's original quality, appearance, and design, which could result in a more than 50% drop in value.
| Product and Its Specialty | US Mint & Place | Sold In | Sold For Amount ($) |
|---|---|---|---|
| Liberty Head double eagle $20 Gold Coin spelled “LIBERTY’’ | Philadelphia Mint | August 2006 | $1,610,000 |
| Liberty Head 1870-CC double eagle | Carson City Mint | March 2009 | $414,000 |
| Saint-Gaudens double eagle - Ultra High Relief | US Mint | 2005 | $2,990,000 |
| 1933 Double Eagles - Farouk specimen | US Mint | 2002 | $7,590,020 |
| 1933 Double Eagles - Farouk specimen (Sold Second Time) | US Mint | 2021 | $18.9 million |
| Saint-Gaudens Double Eagle 1925-S (Graded MS-67) | US Mint | 2005 | $287,500 |
| Indian Head eagle (Saint-Gaudens original dies - “wire rim”) | US Mint | January 2011 | $230,000 |
| Indian Head eagle - 1907 strikes "rounded rim" (Dots before, between, and after the words "Ten Dollars") possession of the Leach family | US Mint | January 2011 | $2,185,000 |
| 1933 Indian Head Eagle - Graded MS-66 (the finest example of this date known) | US Mint | 2004 | $718,750 |
| 1910 Indian Head - Proof Eagles (Mintage 204) | US Mint Philadelphia | 2006 | $80,500 |
In conclusion, the gold dollar coin value extends far beyond its metallic composition. These coins serve as tangible artifacts of American history, embodying the cultural richness and artistic brilliance of their eras. Their significance lies not only in their material worth but also in the stories they tell and the connections they forge with the past. From commemorative designs to rare mint marks and historical inscriptions, each coin encapsulates a chapter of the nation's narrative, making it a prized possession for collectors and enthusiasts.
With this piece, you determined the gold dollar coin value and how collecting them can benefit you in the future! If you're interested in starting a collection of US dollar coins, consider exploring the Indian Head Eagle, St. Gaudens Eagle and Liberty Eagle dollar coins produced by the US Mint. BOLD offers these US dollar gold coins at the lowest premium, making it a great place to start your collection.
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