1933 gold double eagles
derryb
Posts: 37,051 ✭✭✭✭✭
Were they "just bullion" when initially minted?
Exit bunker, enter Matrix. LOL
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In the case of the 1933 double eagles, the year had barely started when their status as something unusual was known. The economy was so bad that most collectors could only view them as a mental exercise, not something to collect, at least not at that immediate moment. Izzy Switt did sell some 1933 double eagles to dealers and probably to a collector or two, but I don’t think that we know the prices that he charged them. Chances are it was a few hundred dollars at most. The coins were obviously hard to acquire and Izzy may have been the only source, but no body knew what they would be come in March 1933.
<< <i>Were they "just bullion" when initially minted? >>
You mean: were they "just bullion" before they had a chance to receive the magical monetization blessing from the Federal Reserve?
They were minted with the intention of becoming money. So I guess they were whatever the mint considered coinage after the minting process and before monetization - little stamped discs.
<< <i>They were coins when minted, and remain such... this term 'monetization' is a term coined (pardon the pun) long after the original issue. The fact that they were not (according to the mint) 'officially' issued, is secondary. The intent was to issue them until other developments changed the situation. Cheers, RickO >>
What he said. The term "monetization" was invented in an attempt to justify the seizure of the Fenton coin in the mid-1990's. No coin issued or manufactured by the U. S. Mint in the 1930's was ever "monetized" upon issuance, because the term didn't exist during the 1930's. The coins were issued, officially or unofficially, and then, sixty years later, the government changed the rules.
An authorized PCGS dealer, and a contributor to the Red Book.
Exit bunker, enter Matrix. LOL
Liberty: Parent of Science & Industry
<< <i>can we skip ahead? where are you going with this? >>
thanks for asking, I'm there
Exit bunker, enter Matrix. LOL
<< <i>can we skip ahead? where are you going with this? >>
To the precious metals forum... then on to the BST.
are they going to suddenly stop minting AGEs, recall and melt almost all of them, and call everyone's gold back in again?
and then maybe reprice gold at $5,000 or $10,000 per ounce and later sell it back to us?
and then make a deal to monetize one of the few 2011 AGEs, maybe yours (or, rather, your grandkids'?)
Liberty: Parent of Science & Industry
<< <i>are we to conclude that 2011 is like 1933?
are they going to suddenly stop minting AGEs, recall and melt almost all of them, and call everyone's gold back in again?
and then maybe reprice gold at $5,000 or $10,000 per ounce and later sell it back to us?
and then make a deal to monetize one of the few 2011 AGEs, maybe yours (or, rather, your grandkids'?)
The post is a question of difference between gold coins and "just bullion." Has nothing to do with imaginary scenarios.
Exit bunker, enter Matrix. LOL
A ex-jewelry 1927 Saint with significant rim problems is "just bullion."
Your 2011 Silver Eagle is never going to be worth $7.6 million.
One rich guy could have bought out the mint.
1,766,000 1933-s half dollars for $883,000
14,360.000 1933-p cents for $143,600
6,200.000 1933-d cents for $62,000
312,500 $10 eagles $3,125,000
$1,088,600 in coins and $3.125,000 in $10 eagles
Am I missing anything?
A rich person could have bought out the years minting for just over 4.2 million not counting the double eagles that were not distributed.