The US Mint is an independent US agency which produces coinage for United States of America to operate trade and commerce. The first gold coin was issued in 1975 by US Mint. The US dollar was set at 19.39 dollars per ounce. The size range was 1dollar to 50 dollar denomination.
In 1933 when there was a great depression in United States then president Roosevelt passed a law that it is not legal if a person posses gold with him. Citizens had to return all the gold coin they had to US government. In the US treasury millions of coins were then melted to gold bars. Then the value of dollar was adjusted from 19.75 dollars per ounce to 35 dollars per ounce.
The result was that the so common
US Mint Gold coins became rare and very few in number. Now approximately 1 percent only is left in the market and those too are highly prized and difficult to obtain.
The US mint coins are nice in design and are the signs of spirit and character of America. Originally Gold Eagle coins were designed by Saint Augustus and they carry a full image of a lady who holds a shining torch in right hand .On the left hand she carries an olive branch. Background bears the picture of the rising sun and the US Capital dome. There is inscription ‘liberty’, issuing date and the original mark of mint which is a unique mark.
How the Pre- 1933 US Mint coins are graded now?
Now the basis of valuation of US gold coins manufactured before 1933 is date, rarity and the grade i.e. present condition of coins and extent of preservation. The scale is 1 – 70 which is formulated by ANA (American Numismatic Association) and certified by PGSC and NGC. If the grade given to a US Mint Gold coin is 1 then it means it has very little worth to be valued as a gold coin and is date is hardly recognizable and has a great wear. The only value of it can be the value of the gold in it.
If the coin has a specific date and in good condition i.e. preserved well then its grade number goes higher and a gold coin collector will pay more. A perfect 70 grade coin will have no signs of wear and the dates are generally pre – civil war dates.
There are two varieties 20 $ Double Eagle sizes and Saint- Gaudens designed coins. Double Eagle sizes were produced during 1849 to 1907 and other Saint- Gaudens from 1907 to 1933. The Double Eagles have pure gold content and price is relatively high as compared to other type.