Gold Coins
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The U.S. Mint's most popular gold coins from the early 1800s to 1933 are the Liberty Head series and the Indian Head series (especially those designed by Augustus Saint-Gaudens).
[Now is the time to buy] . . . premiums on Liberty eagles and double eagles ($10 and $20 gold pieces) and Saint-Gaudens gold pieces are sitting at historically low levels . . . -- Al Doyle, COINage (July 2007) |
Gold has served as money or established the monetary value of currencies longer than any other material. The use of gold coins was widespread in Europe by the fourth century B.C. The earliest coins circulated in the United States were foreign coins, mostly silver and gold, brought from Europe. The Coinage Act in 1792 established an independent monetary system with the dollar as the basic United States monetary unit containing 24-3/4 grains of fine gold, based on the world price of $19.39 a troy ounce (480 grains) . . . In 1934, U.S. citizens were prohibited from holding monetary gold in the United States; this was extended in 1961 to gold held aboroad as well. The dollar price was set at $35 per ounce in 1934 . . . All restrictions on holding gold were removed on December 31, 1974 . . . --Red Book |


