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- - NUMBERS are important in coins... (http://goldismoney.info/forums/showthread.php?t=31278)

HistoryStudent | 03-12-2006 06:05 PM
NUMBERS are important in coins... The total GOLD minted in the USA from 1800 to 1933 was 4.5 billion dollars in face value: of that 3.5 billion was $20 double eagles. Only a billion dollars of gold was coined in $1, 2.5, 3, 5, and 10 dollar gold coins. SO: 175 MILLION coins in $20 give or take a few. ($3.5 billion divided by $20) The tricky part is KNOWING how much was melted down and collected by the govt. which OUTLAWED it in 1934. PLEASE: Forget that in the "height of the GREATEST Depression" after outlawing it - they almost doubled the price paid internationally (from $20 to $35). What a bunch of crooks! I degressed. SO: PCGS has only graded AROUND a half-million Saints and probably another half-million Liberties both in $20; and about the same for the Liberties. NGC (I did not want to add up all the 57 varieties one by one) PROBABLY about the same. Subtotal = about a TWO million coins. (of the 175 million) So I wonder how many RAW coins are still out there today. Estimates ran to around 50% were not dumb enough - and they did not follow Gressam's Law and keep the good gold money from the melter thief. I know from research that 85% to 90% of folks holding the $20 Saint Gaudens are INVESTMENT prone and protecter of their principle. Investor/collector is a good politically correct phrase. Would you like to be ONE of those? Or you can wait for that $20 bill in your wallet to be worth only $10 in five years - take your pick.

Lackluster | 03-12-2006 06:49 PM
Re: NUMBERS are important in coins... "Or you can wait for that $20 bill in your wallet to be worth only $10 in five years - take your pick." Are you suggesting that ones choices are folding money or numimatic coins, and that's it? Not bullion?

HistoryStudent | 03-12-2006 10:41 PM
Re: NUMBERS are important in coins... Quote:
Originally Posted by Lackluster "Or you can wait for that $20 bill in your wallet to be worth only $10 in five years - take your pick." Are you suggesting that ones choices are folding money or numimatic coins, and that's it? Not bullion?
Gosh, NO, I'm sure that bullion is at least twice as good as any currency. Coins are just a 10% investment of YOUR 100% in P.M.s - that's all. Sorry. HS

SirSilverOzzyyzzO | 03-13-2006 12:02 AM
Re: NUMBERS are important in coins... 1234567890

AuNuggets | 03-13-2006 08:42 AM
Re: NUMBERS are important in coins... The most important concern, I would think, is the number of "non-U.S." produced eagles and double eagles out there that are basically indistinguishable from official coins. It is well known within numismatic circles that there are many coins in "slabs" that may or may not be genuine U.S. product. Those official mintage numbers only tell part of the story.

SirSilverOzzyyzzO | 03-13-2006 01:48 PM
Re: NUMBERS are important in coins... 1234567890

Pragmatist | 03-13-2006 02:11 PM
Re: NUMBERS are important in coins... Quote:
Originally Posted by AuNuggets The most important concern, I would think, is the number of "non-U.S." produced eagles and double eagles out there that are basically indistinguishable from official coins. It is well known within numismatic circles that there are many coins in "slabs" that may or may not be genuine U.S. product. Those official mintage numbers only tell part of the story.
That's news to me. I must admit I am a little suspicious of this statement. Do you have links to any source materials on this claim? I would like to know more about the subject. Thanks Prag

goldminer | 03-16-2006 08:38 PM
Re: NUMBERS are important in coins... The words I get are that (1) there were virtually none of the gold coins turned in by citizens that were melted, and (2) tens of thousands have been given to foreign banks and other foreign interests that have been redeaming U.S. paper gold certificates for gold coins and bullion up to 1974, (3) there are tens of millions of the U.S. gold coins still in foreign bank vaults; (4) coins have been quietly filtered back into the U.S. slowly over the years to protect the myth that pre-1933 U.S. gold coins are "scarce" and "rare", (5) by far most of the coins are neither rare or scarce, (6) thousands and thousands have been slabbed and more are being slabbed every month, (7) virtually all of the coins that don't minimually grade XF in reality, don't and never will have actual numismatic value. Last year I did a quick count of reported federal struck mintage numbers of Eagles and Double-Eagles to 1932. The total number of these $10.00 and $20.00 gold pieces alone was over 242 million. Add the number of struck Quarter and Half-Eagles and the total is enormous. How many have survived is anybody's guess but you can bet its in the millions upon millions upon millions. I believe that more people get taken to the cleaners trading FRNs for these coins every day, then get taken trading for all the other Au and Ag modern bullion coins, rounds, and bar items combined.

Anthony | 03-16-2006 08:50 PM
Re: NUMBERS are important in coins... Her is the problem with graded coins - perception. An ounce of gold is an ounce of gold. That is your bottom. The rest is all guess work. I stay away from graded coins.

HistoryStudent | 03-18-2006 10:43 PM
Re: NUMBERS are important in coins... Quote:
Originally Posted by SirSilverOzzyyzzO Really??? I can admit, I'm open to new info.. Maybe I am slow on the uptake? As to, I haven't heard that one yet! You just rocked my, what I thought was a solid belief in rare coins... Is what you are saying, NGC and PCGS aren't reliable enough to weed out, non-genuine coins? Please tell me what you mean are those, "Other" third rate coin graders....??? Thank Gosh I mostly believe in, bullion and only have a small portion of PM's devoted towards numisamatic value.
Let's just talk $20 double eagles from 1850 to 1932. PCGS & NGC graded about 2 MILLION total: add in another quarter million from the other graders maybe total near 2.25 million coins since 1986. And they stopped making them in 1933. Buy the "Double Eagle Gold Coins" book from amazon for $20 bucks and see for yourself. So of the 175 million coins a graded number of 2.25 million so far. Big deal. Some of those 2.25 million have been sent in five times (they also count as a graded coin in the total) for trying for a higher grade. These are a total SPECULATION not an INVESTMENT situation. 5% to 10% of your bullion should be in MS63 to MS65 Saints (or Liberties MS62 to MS64). Spend twenty to forty hours researching before you buy ONE COIN. Books, library, coin shops, use your head. Last time in 1989 the common dated coins made a run up to around $4,000 each at MS65: with only 4 trillion in the M3 money supply: now we have 10 trillion plus. 2.5 times more. Who knows the future. But, it is more fun than watching grass grow and your bullion coins at the same time. Prices change on www.pcgs.com like the stock market UP & DOWN - mostly up lately. REPEAT: Spend twenty to forty hours researching before you buy ONE COIN. Books, library, coin shops, use your head.

SirSilverOzzyyzzO | 03-19-2006 01:13 AM
Re: NUMBERS are important in coins... 1234567890

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