Are the American Arts gold medallions extinct yet?
CaptHenway
Posts: 33,635 ✭✭✭✭✭
Before I retired from coin dealing at the end of 2010 American Arts gold medallions were almost impossible to sell at retail, even though their contents were unquestionable. Now that gold is maybe four times more expensive, are there any American Arts medallions left that have escaped being melted down and remade into something more marketable?
Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Author of "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
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They were the first to go when I decide to take some profit awhile back. There was a thread where someone asked if anyone was trying to collect the full set. Very few responses. It seemed to be a niche not many people were interested in.
I have quite a few of the more common 1/2 oz (Marian Anderson and Willa Cather) and 1 oz (Grant Wood and Mark Twain) medallions. All told I reckon about 20 ounces. When the various credit card cash back, ebay bucks, Mr. Rebates type rebates and Micosoft Live discounts were applied they could be acquired around 2010 for well below then current spot. When I do decide to sell gold the medallions and the common $5 and $10 US gold commemoratives will be first items I sell.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
March of Time - 27 Centuries in Gold
https://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=36590
I'm keeping the Frank Lloyd Wright as an architects' memorabilia.
the refiners want marked metal, tho if they are aware they might take these. 90% gold, i'm not sure
i'd guess wholesalers can deal
They were intended to compete with the Krugerrand and are identical to the Krugerrand as far as weight, diameter, and fineness which is 91.67% or 22 Karat.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I kept one set. Most are the highest grades I could find.
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/american-arts-gold-medallions-circulation-strikes-1980-1984/alltimeset/123811
My US Mint Commemorative Medal Set
Nice set.
I like the 1982-onward designs better. They are more "coin-like".
But all of them are important historically. They were the government's baby steps toward the Gold Eagle program after decades of a ban on Americans owning gold bullion (with certain exceptions, of course).
at one time they were a great bullion play. Now they are becoming a rare collector item. If you have them, especially certified, hold them.
When gold and silver move together, it signals the coming end of fiat money.
You are thinking of the 22kt American Eagle, authorized by the same bill that banned the importation of Krugerrands due to Apartheid. The American Arts medallions were made from .900 fine gold pre-1934 coinage melted down in the 1930’s.
You are correct. I got it confused with the AGE which followed.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Bought this several years back. Sold it to my sister-in -law when silver hit $2000 per oz. Told her I thought it might do well getting the set graded but she liked it , as is.
``https://ebay.us/m/KxolR5
Didn’t know silver hit $2,000/oz!!
Well pay attention , already.
``https://ebay.us/m/KxolR5
Nice holder! Bet they didn't sell many of those.
Really like the set. In checking some online dealers quite a few are out of stock. Didn’t find much on EBay either. It would probably be difficult to put a similar set together.