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Modern or Classic pre-1933 American gold?
mark_dak
Posts: 1,091 ✭✭✭✭✭
I picked this up at our local coin show earlier this morning. Still crazy to think I can pick up a nice 118 year old American half eagle at straight melt value and would most likely pay a small premium for a lot of modern era gold. Maybe the poll will help evaluate how much(or little) interest there really is in classic gold.
Modern or Classic pre-1933 American gold?
This is a public poll: others will see what you voted for.
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Classic gold all the way. In fact, I’m planning on buying some over the next few months.
TurtleCat Gold Dollars
Most gold collectors don’t consider a 1902 $5 Liberty to be a classic gold piece.
Addendum: Liberty gold coinage is certainly classic gold but a 1902 $5 is not a highly desirable date.
And yet some do... As the folks at GovMint.com. Like many people I know it's a term I've heard pre-1933 gold referred as for years, here's their idea of Classic American gold:
"Gold coins struck by the U.S. Mint prior to 1933 are known as Classic U.S. Gold Coins, and they have a fascinating history that excites collectors for building vintage gold collections. These vintage gold pre-1933 coins that were minted before the Gold Recall Act signed by President Franklin Roosevelt in 1933, making gold illegal to own. Gold is real Money, and Pre-33 Gold is a great buy because it has a limited supply, as no more will ever be produced. There is a wide variety of available Pre-1933 Gold coins ranging from Gold Dollars to Twenty Dollar Double Eagles that are tied to a time in past American history. Every Pre-1933 coin has a story to tell, and it is like holding history in your hands. Holding a gold coin is holding a piece of history that is protected and sealed forever in certified condition by third-party grading services like Professional Coin Grading Service (PCGS) and Numismatic Guarantee Corporation (NGC), or even in raw ungraded options. Keep reading below to learn more about this Classic Numismatic period and shop our extensive vintage gold offerings below."
Not sure who told you otherwise.
Classy classic
If you can buy either at the same price, it's nice to get a little history for your dollar.
Classic all the way!
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
That would explain the $380 price tag... the reason for my question. I was wondering what percentage of collectors might agree with me or is there a substantial number of us who prefer modern American pieces.
Classic all day long, just thinking about the origin of the gold and the work that went into making it
Classics have History, moderns are just certified bullion.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
Classic for bullion money, no contest.
If you collect raw classic US gold coins be careful of buying a counterfeit. The 1902 G$5 looks real but also looks like it's been cleaned.
The poll should include the "Both classic and modern" as an option.
Worry is the interest you pay on a debt you may not owe.
Thanks, its defiinitely genuine. Need to be wary of ANY coin purchase these days.
Was looking for preference here. I own some modern too.
Ill stick with the classic it makes me smile more
I generally prefer pre-1933 US gold coinage vs. more modern pieces. I also agree that your images make it appear as though the coin might have been cleaned or wiped, but images can definitely be difficult to interpret. The website you quoted has incorrect information regarding the history of US gold ownership, but I have found that many sites, businesses and people labor under this cloud of misinformation.
In honor of the memory of Cpl. Michael E. Thompson
With 100% of the poll, so far, in support of classic, isn't it funny that prices don't support this finding ?
What helps suppress prices, I believe, is the dilemma that many of these issues are common, common, common yet their intrinsic gold content (value) places their cost of acquisition higher than a fair number of folks want to be on a per coin basis. This, in combination with the vast length and width of many of these series, can mean that only very few collectors could ever build a complete set, which leaves the greater number of folks to view these as bullion or, at best, as a type coin (perhaps even one from each mint).
In contrast, newer gold commems all have terrific surfaces, feature a variety of designs and are typically issued in much smaller original images, though the extant populations are many times far higher than pre-1933 pieces. This allows a far greater pool of collectors to hope to eventually build a complete set.
They are really two different animals, in my opinion, yet they have to drink from the same well.
In honor of the memory of Cpl. Michael E. Thompson
Yeah, guess just not enough of us. I was curious because I see a ton of modern stuff out there.
So, where would one properly inform themselves of the "Definition" of classic American gold. I hate being under the cloudiness of misinformation.
There's not enough poll options. I, for one, would go either way. Presumably, we're talking bullion here.
The other consideration is fineness. 0.999 Buffalos vs. 0.90 Eagles vs. 0.90 "Classic gold"
Bullion or collectible?
The poll just doesn't have enough options for me to vote.
I wasn't writing about the definition of classic gold. My post states that the website has incorrect information about the history of US gold ownership.
Roosevelt issued Executive Order 6102 that specified the amount of gold coinage, bills and financial instruments that the public could keep on a per-person basis. There were enough loopholes in the order to allow virtually all the gold coinage that the US had minted to that point to be held privately, but at the same time the banks were instructed to forward received gold coinage back to the Federal government. Therefore, ownership of gold coinage was never made illegal.
In honor of the memory of Cpl. Michael E. Thompson
Crossover between bullion and collectible is far too vague. Buffalo's and eagles would be "modern" minted recent to those pre-1933 American coins. Dont think that's overly confusing.
Gold eagles are 22K or 0.9167 fine. When they were first issued, the US Mint decided to use the same specs as the Kruger Rand which they were hoping to compete with.
Worry is the interest you pay on a debt you may not owe.
I agree with a lot of what you state but actually now that the gold eagle series has been around for well over 30 years it too, becomes quite a pricey series let alone there are different denominations, surfaces and mints.
For bullion, my favorite is the closest to spot. I’d prefer pre-33 but I love AGEs and Buffs too.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
If I'm "collecting" I might prefer classic gold type. If I'm buying bullion, I really don't care.
I'd also point out that if it's bullion, I don't care if it's XF or AU or scratched or whatever. If I'm collecting classic type, I probably want to pay the premium for a 65 or 66.
So, I have no answer to the question because I don't know whether I'm shopping for bullion or my type set.
True
Nothing modern even compares to classic...gold or otherwise.
Just my eversohumble opinion.
Cheers
Bob
Man, if it survives the 1934 gold reserve act, it is a classic 👍
I have both... I like the pre-33 gold for collecting... but for stacking I like the AGE's....Cheers, RickO
Husband: Feel like grilling some chicken tonight for dinner?
Wife: No we grilled steak last night.
Hisband: We could have fried chicken.
Wife: Nah, we fried that perch on Friday.
Husband: How about some of that salmon in the freezer?
Wife: Uh, we just had fish!
Husband: OK maybe we can just whip up one of our super salads.
Wife: We had salad with the steak, chicken and fish!
Husband: Yoi know what? I'm not that hungry. I'll be out in the garage.
100% modern gold.
When I first got interested in buying gold, the premiums on classic gold coins were simply too high. After buying modern gold, I never revisited the idea of classic gold.
I knew it would happen.
What are you buying, if at all, at this level? Are you paying premiums on anything? Most of my gold was purchased sub $1100 levels, slowed down since. Still get the bug and pick up similar to item in OP.
What are you buying, if at all, at this level? Are you paying premiums on anything?
My recent gold purchase was a 1 oz. 2020 MS-70FS Gold Buff pre-order for the set I'm maintaining, so I paid a premium for the grade, and I suppose for the label as well.
However, I'm a little more judicious about these types of purchases nowadays.
I knew it would happen.
Its like relationships ... classic or modern, your choice!
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