American Buffalo 24K Gold Coins
March 29, 2010 by Carl Finegold
Filed under Gold Coins
American Buffalo One Ounce Gold Proof Coins are collector versions of the official United States Mint American Buffalo Gold Bullion Coins. Each coin contains one ounce of .9999 fine, 24-karat gold and is presented in an elegant hardwood box with a matte finish and a faux leather inset, and is accompanied by a certificate of authenticity signed by the Director of the United States Mint.
American Buffalo One Ounce Gold Proof Coins will be offered in 2010. The on sale date has not yet been determined.
After the late release and limited availability of the prior year, collectors and precious metals investors are hoping that the offering of 2010 Gold Buffalo coins runs more smoothly.
By law, the United States Mint is obligated to produce the one ounce 24 karat American Gold Buffalo bullion coins each year. Due to the continuing high demand for physical precious metals coins, this obligation has become a challenge to fulfill. During 2009, the release of the Gold Buffalo coins had been delayed for much of the year. The bullion coins were finally available during a short two month window near the end of the year, followed by the release of the collectible proof version of the coin.
The bullion version of the coin sold out after 200,000 of the coins were purchased. The proof version of the coin reached sales of more than 40,000 coins by mid-December.
After the sell out of the bullion coins, the US Mint did not offer any information about the time frame for the 2010 Gold Buffalo bullion or collector coins. There is a good chance production may be delayed once again. Towards the end of the year, the US Mint was forced to suspend sales of the more popular 22 karat gold bullion coins and implement a rationing program. In the past, when the US Mint had to resort to such measures, the issuance of other bullion and collector coins was delayed in an effort to focus production.
Gold Coin Hoard on SS Columbia Shipwreck
March 24, 2010 by Carl Finegold
Filed under Gold Coins
The Gold
During the Civil War years, gold was discovered in eastern Oregon and parts nearby. The gold was shipped overland to Portland and then by sea to San Francisco. The gold would then be minted into gold coins at San Francisco, and many would be shipped back north.
On Sunday July 30, 1865, the Brother Jonathan was on one such trip to the north carrying over 240 passengers and crew, and millions of dollars worth of newly minted gold bars and $20 Double Eagle gold coins. Some of the gold was to be used for Indian Treaty payments. The ship also carried a U.S. Army payroll of $200,000 in newly printed paper currency.
The Treasure
On October 1, 1993, a company founded by Don Knight called Deep Sea Research located the wreck of the SS Brother Jonathan using a small mini-submarine. But it would not be until August 30, 1996 that divers would find the first gold coins. 564 gold $20 double eagles were recovered that first day. In all, a total of 1,207 coins were recovered in 1996 and 1997. Nearly all the coins were struck at the San Francisco mint.
Many of the coins were discovered still wrapped in oil paper, twenty-five coins in a stack. Other coins found not wrapped were surrounded by large marine encrustations. The oil-paper wrapping and marine encrustations protected the coins and is probably the main reason so many coins were recovered in mint state condition.
In 2000, Dwight Manley and Bob Evans (both of SS Central America fame) went back to the site and recovered 58 more coins that were scattered individually about the site; 38 were double eagles eventually graded by NGC.
The Auctions
The first public offering of SS Brother Jonathan coins occurred on May 29, 1999. A Bowers and Merena auction offered 842 lots of gold coins to collectors. Bowers and Merena estimated the auction would bring between six and eight million dollars. In the end, the sale actually brought in only $6.3 million.
While not a total bust, it certainly had to be a disappointment to the Deep Sea Research folks. After Bowers and Merena took their share, Deep Sea Research wound up with only about $4.6 million. When the all the costs and legal expenses were added up, the members of Deep Sea Research wound up with very small return on their money. Unlike the SS Central America treasure, the SS Brother Jonathan did not bring vast wealth to its finders.
1904 Double Eagle, Liberty Head Gold Coin
March 22, 2010 by Carl Finegold
Filed under Gold Coins
The 1904 Double Eagle Libery Head is part of the "Liberty Head, with motto, value "Twenty Dollars" 1877–1907" Gold Coin family. This is just 1 of 3 groups that was produced for the Liberty Head Double Eagle Gold Coins.
Liberty Head (Coronet) 1849–1907
- Liberty Head, no motto, value "Twenty D." 1849–1866
- Liberty Head, with motto, value "Twenty D." 1866–1876
- Liberty Head, with motto, value "Twenty Dollars" 1877–1907
Due to the less desirable artwork and therefore lower demand, Liberty Coronet $20 gold pieces are less often encountered, and the common subtype commands less, than the St. Gaudens' type. In 1866, the motto "In God We Trust" was added to the Liberty Coronet double eagle creating a second subtype. In 1877, the coin's denomination design on the reverse was changed from "Twenty D" to "Twenty Dollars" creating a third and final subtype for the series. An 1879 pattern coin was made for the quintuple stella using a design combining features of the Liberty head double eagle and stella pattern coin and using the same alloy as the stella (90 parts gold, 3 parts silver, and 7 parts copper). However this coin was suddenly stolen in July 2008 by two thieves. The robbery was planned a year after the coin was sold. The criminals have still not been caught and the locations of these men are unknown.
The 1904 Gold Coin Double Eagle is a very common coin based on the availability in the marketplace. This coin is often used by toll free gold coin numismatic companies to sell to newer clients in the gold coin collecting and investing arena. Typically the coins are MS62 and you can upgrade for MS63+ for a different and higher fee.
While - I think that gold dealers are less than forth coming with their information - it is always up to the buyer to make sure that they are getting a good deal - so diligence is a key! If you are seeking an entry level coin - the 1904 Double Eagle is a solid start to any collection or investment. I typically never buy lower than MS63 and my personal preference are PCGS graded coins - only because most of my collection is made up of PCGS and I have very nice boxes to store their cases in.
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1904 S $20 Liberty Head Double Eagle Gold NGC MS60 |  |
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US $1,921.00 | 28d 17h 11m |
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1904 Gold $20 Liberty Double Eagle PCGS MS 63 Better Coin | |
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US $2,495.00 | 28d 15h 13m |
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1904 NGC GRADED MS65 LIBERTY $20 DOUBLE EAGLE GOLD COIN PHILADELPHIA GEM | |
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US $4,295.00 | 27d 21h 38m |
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1904 $20 Liberty Gold Double Eagle ANACS MS 60 PL Prooflike | |
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US $2,695.00 | 27d 13h 58m |
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LUSTROUS 1904 NGC GRADED MS61 LIBERTY $20 DOUBLE EAGLE GOLD COIN PHILADELPHIA | |
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US $2,129.00 | 26d 22h 37m |
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1904 United States $20 Double Gold Eagle NGC MS64 STUNNING | |
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US $2,695.00 | 26d 16h 25m |
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1904 S $20 GOLD DOUBLE EAGLE SUPERB CH GEM BU COIN MS | |
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US $3,485.00 | 25d 22h 52m |
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1904 $20 Liberty Head Double Eagle Gold NGC MS60 | |
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US $1,921.00 | 24d 17h 19m |
Golds Historic Climb to $1200!
March 18, 2010 by Carl Finegold
Filed under Gold Coins, Investing in Gold
Historical Gold Prices mean Nothing. Or Do they!?
1975 - $150 / ounce
1980 - $660 / ounce
1985 - $320 / ounce
1990 - $385 / ounce
1995 - $385 / ounce
2000 - $275 / ounce
2005 - $475 / ounce
2009 - $1,050 / ounce
2010+ - ???
| March 2010 Metal Price |
1980's High Price | 1980's High Price (adj. for Inflation) |
| $1,125 | $850 | $2,275 |
The information above is a general overview (average) of prices for gold for each year. It comes of NO surprise that gold was high in 1980 - massive inflation, unemployment, etc. Then in 2000, Gold was just above 1975 levels - why - Massive creation of a bubble market - great markets, etc. Well - 2010 is shaping up to be the worst EVER and $1200+ / ounce Gold is COMPLETELY realistic. Let's look at the basics.
1. Unemployment - historical highs.
2. Inflation - curbed only by the Fed holding the rate at near 0%!
3. Deficits, and More Deficits - and if we need to raise the ceiling, MORE DEFICITS!
4. US Dollar - Devalued by borrowing, spending and printing.
Simply put - we have the PERFECT storm brewing to SHOOT us past $1200 / ounce gold and perhaps shattering $1500 ceilings and more. Now is still a great time to invest in Gold for a long term position. The $1145 ceiling is the current road map - we move past that and we will have to watch the prices closely - I would be surprised that if we break that mark and investors stay on - we could easily see $1200 / ounce Gold within the week we see that threshold met and sustained.
The AU Pendant is a photo from a website http://www.itsno.name - where you can buy Periodic Pendants, Rings and More. Great concept for a product.
The Liberty Head Gold Coin Double Eagle
March 18, 2010 by Carl Finegold
Filed under Gold Coins
- Regular issue double eagles come in two major types and six minor varieties as follows:
- Liberty Head (Coronet) 1849–1907
- Liberty Head, no motto, value "Twenty D." 1849–1866
- Liberty Head, with motto, value "Twenty D." 1866–1876
- Liberty Head, with motto, value "Twenty Dollars" 1877–1907
The first double eagle was minted in 1849, coinciding with the California Gold Rush. In that year, the mint produced two pieces in proof. The first resides in the Smithsonian Institution in Washington DC. The second was presented to then Treasury Secretary William M. Meredith and was later sold as part of his estate - the present location of this coin remains unknown.
1904 Double Eagle Gold Coin
St. Gaudens Double Eagle Gold Coin
March 18, 2010 by Carl Finegold
Filed under Gold Coins
The St. Gaudens Double Eagle is twenty dollar gold coin, or Double Eagle, produced by the United States Mint from 1907 to 1933. The St. Gaudens is named after its designer, the sculptor Augustus St. Gaudens, who designed the obverse and reverse. St. Gaudens' mark appears on the obverse of the coin under the date.
- Denomination: $20
- Obverse Design: Lady Liberty holding the Torch of Freedom and an olive branch with the United States Capitol in the background
- Reverse Design: A Bald Eagle flying over the sun
- Edge: Lettered with 'E Pluribus Unum' and stars
- Weight: 33.436 grams (516 grains) (1.075 troy ounces)
- Diameter: 34 millimeters
- Thickness: 2 millimeters
- Composition: 90% gold, 10% copper
- Gold Content: ~30.093 grams (464.4 grains) (0.9675 troy ounces)
In 1907 and 1908, a number of eagle and double eagle coins were minted without the motto of "In God We Trust". At that time, the coinage laws did not require the motto, and so St. Gaudens had not been asked to include it. Roosevelt defended the omission as a prevention of a profane use of God's name, but in 1908, Congress passed an act requiring the use of the motto on all denominations of coins on which the motto had previously appeared--including the eagle and double eagle. The reverse of the coin was redesigned to include the motto.
At the turn of the 20th century, President Theodore Roosevelt decided to start an effort to beautify American coinage. He hired Augustus St. Gaudens to overhaul American designs. St. Gaudens only lived to finish the double eagle and the Indian Eagle. These two designs are considered by some to be the best designs of their denominations and some of the best of any American coin ever. The double eagle design was voted the best American gold coin design and is currently used on American gold bullion coinage. The original coinage of 1907 had an ultra high relief as the artist intended. However, when the Mint struck some coins, they required repeated striking by the presses, and had more the appearance of medals than coins.
One alternative explored by the mint was reducing the diameter of the coin to that of a checker and making it thicker in an attempt to keep the ultra high relief. Some trials were struck, but most were destroyed (except two which were retained in the Mint collection) when it was discovered that consent of Congress was required to change the diameter of any coin. St. Gaudens redesigned the coin for a lower relief, but when some of these "high relief" coins were struck, they would not stack well, and the design was flattened again by St. Gaudens for circulating coins. Some of the high relief coins, though, found their way into circulation. The coins were minted continuously until 1933, except for 1917-19, when no coins were struck.
2009 Ultra High Relief Gold Coin
March 16, 2010 by Carl Finegold
Filed under Gold Coins
| SOLD OUT AT THE US MINT! | |
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In January, the United States Mint issued the 2009 Ultra High Relief Double Eagle Gold Coin. This coin promises to fulfill Augustus Saint-Gaudens' vision of an ultra high relief coin that could not be realized in 1907 with his legendary Double Eagle liberty design. The 2009 Ultra High Relief Double Eagle Gold Coin will show the Nation and the world the very best the United States Mint has to offer. The 21st century vision of the United States Mint, combined with technological advances, enabled the United States Mint to realize the previously unattainable goal of making the coin accessible to all Americans. Through 21st century technology and the vision of Director Ed Moy, original Saint-Gaudens coin plasters were digitally mapped by the United States Mint. Using the digital design and die-making process, the Saint-Gaudens sculpture—in ultra high relief—has been updated to reflect the year 2009, an additional four stars to represent the current 50 states, and the inscription "In God We Trust," which was not on the 1907 version. Additionally, a small border was added for a more consistent edge. The 2009 coin will be made of 24-karat gold. Pure 24-karat gold is much more malleable than 22-karat or 90% gold coins, making it better material for striking the ultra high relief. The United States Mint looks forward to the 21st century and a new era of modern coinage. It eagerly continues the tradition of embodying America's spirit and identity through its coins and medals. The coin is a uniquely American artistic expression—created by an American sculptor and crafted by an iconic American institution. The 2009 Ultra High Relief Double Eagle Gold Coin closes one chapter of American coin design and begins a new one. We have perfected what has been called one of the most beautiful coins in the world, but, like America itself, there is much more on the horizon. |
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