Have you ever received a gold coin and wondered what it is worth? Are collectible coins worth more than the value of the gold they are made from? What makes a coin ‘collectible’ rather than just the money we use every day, and are some types of collectible coins worth more than others? What are the most valuable coins and which ones are hardest to find? We’ll answer these common questions and more – including how to sell collectible coins and where to get the most for your gold coins.
One of the best places to learn about the history of coin collecting in the U.S. is at the U.S. Mint in Washington, D.C. According to the federal agency’s website, the U.S. Mint has been producing coins in the U.S. for more than 225 years! The Coinage Act of 1792 authorized the U.S. Mint to begin producing gold, silver, and copper coins for the new country. In 1857, the U.S. banned the use of any foreign coins. Coins were first made with pure materials, but for example, by 1982 pennies were only 2.5% copper.
During the Great Depression, the Mint stopped making gold coins and even banned private ownership. When many gold coins were melted down, the ones that did remain in private ownership became rare collectibles. While the law was reversed in 1975, the U.S. no longer uses gold coins for monetary purposes. However, the U.S. Mint has always produced more than just money. Coins and medals were made to share on diplomatic missions and as military awards. Gold coins are some of the most treasured collectibles today.
Still a favorite today, the first U.S. gold coin was the Gold Eagle Coin, which began production in the 1700s. It was worth $10 (that was a lot of money then!). Modern commemorative gold coins that are collected today include the American Gold Eagle, which was introduced in 1986. The well-known American Gold Buffalo was first minted in 2006. Collectors look at the year, the rarity, and the design of coins when collecting them. In addition, what mint that produced the coin, and ‘coin sets’ are also considered, as are printing errors – which can make a coin rare and expensive to acquire.
For both new and current collectors, here are some of the most popular and well-regarded collectible gold coins made in the USA:
Many U.S. collectors also include coins from other countries in their collections, including the Canadian Maple Leaf, the British Gold Britannia, and the South African Gold Krugerrand.
How much does popularity, and scarcity, matter in the valuation of collectible coins? To understand that you have to consider a coin’s numismatic value. The numismatic value is the price you can expect to receive (or pay) for a collectible coin – considered its ‘fair market value.’
In addition to the amount of gold a coin contains and the current price for gold at the time of sale, its numismatic value is also impacted by other factors. This is where the fun comes into collecting gold coins. The value can change, impacted by supply and demand, the number of similar coins available at the time, and the condition it is in. Collectors will purchase and save coins to sell at a later date, when their numismatic value goes up based on these criteria.
If you’re looking to sell collectible gold coins, an online dealer is the safest, easiest choice. You want to ensure that you choose a reputable online dealer to protect your investment and receive the most for each coin you are ready to sell. Online companies often return more to each individual seller than a local pawn or jewelry shop because the overhead costs to run an online store are much less than a storefront. It’s also easier and safer for you – just mail the items in.
To select the best online dealer, look for how long the company has been in business and how many customers they have served. Sell Your Gold has been helping customers around the country for more than 50 years and is rated #1 in the industry, with thousands of online reviews available to read.
Security is another concern – both in how you send the items in and how safe they are once they are received by the buyer. At Sell Your Gold, our FedEx shipping is fully insured, as is our secure facility. We provide up to $100k in shipping insurance coverage for free, and door-to-door tracking of each order to ensure your peace of mind. We also have 24-hour taped video surveillance of our entire facility, including the full appraisal process for each customer.
The three-step Sell Your Gold process is simple and secure. It also delivers the highest price for your gold items, including collectible coins. There is no risk to you, with shipping and storage secure and insured, including returning the items to you quickly if desired.
To learn more about how to sell your gold bullion with Sell Your Gold, please visit sellyourgold.com/coins and send for your free gold appraisal kit today!
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