Gold Coin Market

Gold coin and bullion buying and selling guide.  Gold investing and precious metals martket research information.

Gold coins were used as money in the United States until the year 1933 when they were called in by President Roosevelt.  Today, the U.S. mint issues Golden Eagle coins with varying face values, but they are not used in everyday commerce, they are used as a means to invest in the gold market.  Prior to Roosevelt's gold coin recall, more than 400,000 double eagle coins were minted in the United States in 1933.  Most of these coins were returned to the government and melted.  The scarcity of the remaining gold coins made them valuable.  In fact, in 2002, a Double Eagle gold coin minted in 1933 sold for a record $7,590,020 at Sotheby's auction house.  Today, most people buy gold coins as a hedge against inflation.  Historically, as inflation rises so does the price of gold.  As with other coins, there is a commission involved in buying and selling gold coins.  Since the price of gold is far higher than that of silver, the amount paid in commission is larger as a dollar value but is consistent on a percentage basis.  In addition to the American Gold Eagles minted by the United States government, many investors and collectors choose to purchase Canadian Maple Leafs, South African Krugerrands, Australian Kangaroos, or Chinese Pandas.  These coins are all minted by their respective governments and are all used as an investment vehicle in the gold market.  In addition to being a hedge against inflation, some investors turn to gold when international events become unstable.  Unlike paper money, gold and silver coins will have a value regardless of which country or government is in power.

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