5 Reasons to Love Pre 33 Gold

i'm really excited for this topic today i'm a collector at heart and pre-33 gold coins are basically my jam they might be yours too after this video coming up hey everyone welcome to campbell's coins i have a special announcement at the end of this video so stay tuned for that message first some caveats for the purposes of this video when i mentioned pre-33 gold i'm talking about american gold coins many foreign countries used cement gold coins too but the term pre-33 is synonymous with just american gold coins minted prior to 1933. also while pre-33 technically encompasses all gold coins minted from 1795 to 1933 it mainly refers to the gold coins produced from 1849 to 1933 because gold coins produced from 1795 to 1849 are very rare very collectible and while post 1849 coins are rare too they are more abundant and this is what folks think of when pre-33 is mentioned finally there are gold coins produced by specific territories like california before it was the state or private individuals in north carolina and georgia that won't be included in this discussion fascinating subjects on their own but too niche for the broad topic of pre-33 gold for most of our country's history our money was actually made out of gold and silver this is due to the constitution article 1 section 10 clause 1 the state shall enter into any treaty alliance or confederation grant letters of marquis and reprisal coin money emit bills of credit make anything but gold and silver coin a tender and payment of debt this article hasn't been amended by the way we just happen to be ignoring it the first united states coins were created with the coinage act of 1792 the first law to authorize production of gold coins in the united states of america it specifically mandated the weight and purity of three new coins and denominations the eagle valued at ten dollars the half eagle valued at five dollars and the quarter eagle valued at two dollars fifty cents the half eagle was the first gold coin off the line in 1795 pre-1933 gold coins contain 90 pure gold and 10 copper and unlike gold coins minted today pre 1933 coins were not minted in 10th of an ounce quarter ounce half ounce or one ounce increments there are also many denominations but here are the more popular pre-33 sizes you are probably familiar with the 2.50 quarter eagle contains just slightly over 10th of an ounce of gold with .1209 troy ounces the five dollar half eagle contains just slightly less than a quarter ounce with 0.2418 ounces of gold the 10 eagle contains less than a half ounce of gold with 0.48374 ounces and finally the 20 double eagle contains just less than an ounce of gold with .96 ounces the double eagle was introduced in 1849 just like the silver used for making silver coins gold coins minted in the united states could only be minted from gold mined in the united states there are a few gold rushes prior to the famous ones california black hills and alaska which allowed for the minting of early gold coins these were centered near charlotte north carolina and dahlonega georgia incidentally smaller mints were established in these cities for the gold mine why is this gold specifically named pre-33 in 1933 president roosevelt signed executive order 6102 which made it illegal to own gold within the u.s there were a few exceptions to this gold band collectible gold coins and gold jewelry were allowed but one had a proof that they were a coin dealer dealing with rare numismatic coins in order to be given an exemption roosevelt did this because back then they were on something called the gold standard which means the currency printed was backed by the amount of gold in our reserves they wanted to implement more programs to get out of the great depression and the way to do that according to the gold standard was to acquire more gold to accommodate the extra currency they wanted to print a lot of pre-33 gold coins were melted down into bars to pay off debts too in 1971 president nixon took us off the gold standard allowing the printers to print currency whenever needed while being backed by absolutely nothing in 1974 joel ford repealed roosevelt's executive order once again allowing private ownership of gold coins bars and certificates in the united states there are six us gold coin denominations the one dollar the 250 three dollar five dollar the ten dollar and the liberty each of these had their own names throughout the years the great thing about pre-33 gold is that there are different sizes for every size wallet out there you don't have to have a ton of money to get into pre-33 condition and rarity play a huge part in price though there was a time i could get au condition pre-33 coins for melt even some common date mint state coins i could get for melt pricing those days are gone even now clean coins have a hundred dollar premium attached to them melt price is just the value of the gold within the coin since these coins don't have typical composition and weights don't let the size fool you just because you see a small gold coin does not mean it's affordable i purchased this 1853 gold dollar recently for about 480 dollars it has less than a 20th of an ounce of gold in it melt value is probably around 100 this coin in this year ranges anywhere from 250 dollars to 175 thousand dollars depending upon condition it's all about finding the right coin for what you would like to do the designs of these coins were nothing short of spectacular these coins come from a time when people were proud of their money i feel that early coin designers were actually proud to be americans some of them were recent immigrants to this country they embodied this pride in the coins they designed they're also proud of their work and it shows in this beautiful money it is really nothing short of art a lot of the stuff that they were putting out today is a copy of this original work the new stuff that they are putting out it feels cheap quick easy and sterile the new designs have just a minimal amount of americana artwork required and it's sad early coin designers actually cared about fostering a strong american culture people at this time had faith and belief in what their country stood for and wanted our gold coins showed this strength a friend on instagram the agog once said the pre-33 designs match the value of the metals they contain i could not agree more there were three main pre-33 designs that describe a majority of u.s gold coins minted prior to 1933 liberty head indian head and saint gardens aside from the gorgeous artwork on these coins the designs were actually really unique most of these gold coins look like a normal coin in terms of layout but a few are extraordinary the incuse indian design is one such coin the designs of most coins sit above the surface the coin with a rim going around the coin protecting the design on the obverse and the reverse the entire design of the inkus indian is recessed below the surface of the coin since the ncu's indian design is recessed into the coin itself it does not need nor does it have a rim the 10 indians in the 20 gardens have a very distinct edge instead of a reeded edge like we see on most coins today these two have tiny stars going around the perimeter one for each state in the union i love the look of pre-33 gold nearly every design speaks to me in a way that i just don't get with modern gold i also think it's really cool a lot of this gold came from either the california south dakota or alaskan gold rushes i also wonder whose hands these coins have passed through that timeline in history is completely fascinating to me before i move on if this video has given you any sort of value hit that like button and consider subscribing this brings me to composition these coins were made out of 90 pure gold and 10 copper very similar to the modern krugerrands except they don't look like the gold hue of a krugerrand the care that went into minting these coins shows they have a special sheen an interesting look we don't see with modern bullion and along those lines is the gold hue of these coins i don't know what it is but i love the look of this gold the only thing i could compare it to is the hue of the early modern gold eagles but again pre-33 gold just has something special about it it's very difficult to place i understand the minting processes were much different back then and maybe that has something to do with the special aura around these coins by the way if a u.s mint employee is listening to this maybe the director maybe you should do a special gold coin release created the old-fashioned way to bring back this uniqueness i'm sure a lot of dudes in this community would cream their pants if you announced that special release what's also nice about pre-33 gold is the scarcity what has been made is all there is except this isn't true because these gold coins are melted down all the time especially when gold prices climb high like we are seeing now the government melted down an enormous number of coins in 1933 there were large meltings in 1980 2011 and 2022 leaving some years immense with very small survival numbers some years and mints are plentiful and i implore you to research those years so you aren't buying a common day coin for a balloon price the problem people have with pre-33 is the cost many feel coin shops try to sell them this gold at a premium but when they the consumer try to sell it back to the same lcs or another they are offered under melt for it and to some extent this is true but like all things it's a very narrow viewpoint i've been fortunate to stack and collect for the better part of 17 years not as long as some but long enough to live through specific events with precious metals and see how things play out this perspective has aided me with the creation of this channel it has also given me some sort of pricing perspective pre-33 gold is kind of like real estate there are hot markets and there are cold markets there are listings that will always be hot and there are listings that remain priced the same because there's an abundance of them back in 2018 and 2019 coin shops could not give away these coins i was buying a lot of these up for melt pricing these were not junky looking coins either today just a few years later i could easily sell many of these coins for hundreds over what i paid there are hot and cold markets and we are currently in a very hot market it is true and lcs will probably pay less than melt for your pre-33 gold unless it's in excellent shape and it has some rarity to it but guess what you have many different avenues to sell your pre-33 gold you're not forced to sell to your lcs you can sell on ebay or a number of other auction sites who cater to these coins like heritage auctions great collections etc these sites bring competitive bidding for those rare coins in decent shape one thing that is nice there are not reporting requirements when buying or selling pre-33 gold coins unlike how there are for most modern gold bullion my final two cents regarding pre-33 if you're a stacker looking just for weight stay away from pre-33 gold it's not worth your time unless you're able to buy these coins for melts but if you're a collector and pre-33 gold has some appeal to you i highly suggest getting into it for all the reasons i've mentioned their scarcity supplies are limited to what has survived their averages of time modern bullion is produced every year in virtually unlimited numbers there's liquidity these gold coins are avidly traded by gold investors and dealers alike financial privacy there are no broker reporting requirements when you buy or sell classic coins the sale of many modern bullion items are reported to the irs and finally the pride of ownership these gold coins are fascinating pieces of artwork commemorating unique eras in u.s history if there is another gold confiscation and i'm not saying that there will be but if there is and assuming they use the same language as the 1933 ban you can try to make the case that you're a collector and you get to keep your goal by collecting pre-33 you won't be able to make that case with modern bullion there are two pieces of advice i would like to give to new collectors one is to look out for fakes they are out there and they are pretty convincing to the uninitiated powerful agents to the united states but we are initiated this is why i only buy raw coins from sources i trust because they can discern the difference by looking at them and test with expensive machines counterfeiters are making copies of these coins with the same gold and copper compositions and dimensions as the originals so they will pass all machine tests but the design is slightly off this is why it's important to be able to spot fakes by looking at them if you're not experienced with spotting a fake by looking at it you're safer buying graded coins pcgs and ngc are two main grading agencies fake graded coins are out there too which is why it's always good to verify the number with the grading agency's database and to buy from trusted sources who check these coins when they buy them two is to avoid common day coins unless you're buying high graded common day coins you might have a hard time selling them and you might find the price doesn't move a whole lot i like buying pre-33 gold with not only low mintages but low survival numbers a key date at a popular mint does not hurt either i'm going live tonight at 5 00 p.m pacific standard time with winter coin on instagram they are a rare coin dealer in the bay area and deal with some very high-end coins i don't know what the topic of discussion will be but if you have some time swing by and leave a little wave in the comments your time is your most precious asset and i appreciate you spending it with me if you're interested in any other topics like this one check out the other videos i have on my channel thank you all for watching this is campbell's coins and that is my two cents [Music] you

Channel: Campbell's Coins

Views: 28,385

Keywords: pre 33 gold coins, gold coins, best pre 33 gold coins, pre 33 us gold coins, gold stacking, pre-33 gold, pre-33 gold coins, pre 33 gold, pre 33, pre 33 gold collection, pre 33 gold vs bullion, pre 33 gold stack, pre 33 us gold, pre 33 gold stacking, buying pre 33 gold, stacking pre 33 gold, pre 1933 gold coins, why buy pre 33 gold coins, gold coins collection, gold coins investment, gold stacking collection, buying pre 1933 gold coins, must watch, 5 reasons, best gold

Id: 4fDIL0gVG9I

Length: 15min 16sec (916 seconds)

Published: Fri Feb 25 2022