United States Gold Coin

It may seem somewhat surprising to the average American but the fact remains that the US currency was not always paper money. Ok, some out there will be raising their hand and saying “We know that! There are a ton of minted coins out there.” That is true, but it the various coins produced by the United States mint included far more than just nickels, dimes and quarters. In fact, there were a number of gold coins that were produced throughout the years in the United States and many of which have become quite rare and collectible.


While we are all familiar with the silver dollar for a time there was a gold one dollar coin produced by the US mint and it remained in production from 1849 to 1889. The notion of a dollar produced in the form of a gold coin was considered somewhat obtuse as a dollar was hardly a monetary figure that came to mind when one thought of gold. Then, in the 1840’s something incredible happened that greatly impacted life in the United States: the California Gold Rush.

The Gold Rush came completely unexpectedly and it led to a huge increase in the gold reserves of the United States. Because of this it became smart business to expand the use of gold for currency purposes. This is why gold coins as low as one dollar in value were produced with the first being the “Liberty Head” gold dollar that first appeared in 1849. In time, more United States gold coins were produced with many of them sporting unique “Indian Head” designs.

5_dollar_gold_coin

5 Dollar Gold Coin

United States gold coin production as with all good things must come to an end at some point and in 1889 the gold dollar coin was discontinued although it remained in circulation until the 1930’s when the United States departed from using the gold standard as a method of currency.

Then, in the late 20th Century the United States gold coin made a comeback of sorts. By 1986, the United States had been out of the world gold currency market for quite some time and feeling the time was right to re-enter the gold currency realm and re-issue coins in denominations such as $5, $10, $25 and $50. Of course, as the price of gold rises these coins are worth far more than their face value and this makes them quite attractive in collector’s circles. These coins are quite striking to look at thanks to the presence of a beautifully drawn American Eagle. Unfortunately, it is not easy to acquire these gold coins as many are not circulated and many that are, are produced in rare limited edition coin sets.

Of course, these United States gold coins make excellent editions to one’s personal collection. They are truly novel and unique items and truly standout among many the vast seas of coins out there in the collector’s market. Adding such coins to a collection would enhance a collection far beyond what many would even think possible.

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