Gold has been used as a way to barter and trade for centuries. It is only in modern time that the value of gold has been associated with the US dollar.
Before the evolution of the modern paper currency, gold was the trusted form of money for buying goods and services.
One the first true statements on the value or price of gold was in 1944. Where representatives from dozens of countries met in New Hampshire and created what was know as the gold standard. The original price of gold was $35 an ounce.
The price of $35 an ounce would stay flat for many years until high inflation in the 1960's changed the gold market. Late in the 1960's the price of gold was starting to be quoted higher than the gold standard of $35 an ounce.
In 1974 President Ford signed into law a bill that gave American citizens the right to own gold. This new bill increased the demand for gold which created a supply and demand that affects the spot price of gold today.
Within 1 year from signing this bill gold had reached $160 an ounce.
Gold which is now known as a safe haven showed this as in example in the financial issues late in the 1970's where gold reached $300 per ounce. Gold at one point at the end of the decade exceed $800 an ounce though quickly dropped in price by early 1980.
Again during economic turmoil like the stock market crash of 1987 gold hit higher prices to $500 per ounce.
The economic stress that Americans live in today has seen record gold prices. With the current record recorded in June of 2010. Gold prices have had an increase in value for 9 years in a row. If 2010 holds up the way it began the number will reach 10 years in a row.
Fears of an uncertain economic future have some experts predicting that the price of gold will stay strong into 2011 though there is not guarantee that this will occur.
Tuesday, August 31, 2010
Friday, August 6, 2010
Numismatic Gold Coins
Numismatic gold coins are rare gold coins. These coins are treasured for their beautiful design and their historical significance and are extremely popular among coin collectors. These coins are valued on the basis of their rarity, age, condition, and the number of coins originally minted. Let us look at 2 such coins in more detail.
1853-O $10 Gold Coin (1853-O Eagle)
This coin is rare because of its unique texture and characteristics. It is the only Liberty Head Eagle from the 19th century series to earn a Specimen designation from the Numismatic Guarantee Corporation (NGC). Walter Breen, the foremost US coin expert, declared this coin a “Branch Mint Proof” in two of his books, published in 1977 and 1988. This coin has clear reflective surfaces with slightly frosted devices. Several design elements of this coin are in higher relief. The rims are unusually broad at certain places. The obverse of the coin features the head of Lady Liberty and the reverse portrays an eagle. The coin is sharply struck and exhibits a soft glossy texture. The overall strike of the coin is exceptional. When kept under a light source, the surfaces of the coin glow beautifully. The physical characteristics of this coin offer it a distinguished presence among other coins of the same era.
Duckor-Price 1893-O Half Dollar
This attractive coin is a part of the famous Duckor collection and is yet to be fully recognized. It has been assigned a grade of MS-66 by the Professional Coin Grading Service (PCGS). This is the highest grade ever assigned to a coin of this series. In fact, only three 1893-O halves have been assigned a similar grade by the PCGS. The Duckor-Price 1893-O has an interesting history. Initially, this coin was a part of the James A. Stack Sr. collection, which ranks among the top fifteen greatest collections of US coins. After that, it became a part of the Thaine Price Collection, and then it was finally bought by Dr. Duckor.
In the early 1990s, when the grading standards were tough, this coin was graded MS-65 by the Numismatic Guarantee Corporation (NGC). However, when Dr. Duckor submitted this coin to the PCGS for grading in June 1998, it was assigned a grade MS-66. This coin has also been approved by the Certified Acceptance Corporation (CAC).
1853-O $10 Gold Coin (1853-O Eagle)
This coin is rare because of its unique texture and characteristics. It is the only Liberty Head Eagle from the 19th century series to earn a Specimen designation from the Numismatic Guarantee Corporation (NGC). Walter Breen, the foremost US coin expert, declared this coin a “Branch Mint Proof” in two of his books, published in 1977 and 1988. This coin has clear reflective surfaces with slightly frosted devices. Several design elements of this coin are in higher relief. The rims are unusually broad at certain places. The obverse of the coin features the head of Lady Liberty and the reverse portrays an eagle. The coin is sharply struck and exhibits a soft glossy texture. The overall strike of the coin is exceptional. When kept under a light source, the surfaces of the coin glow beautifully. The physical characteristics of this coin offer it a distinguished presence among other coins of the same era.
Duckor-Price 1893-O Half Dollar
This attractive coin is a part of the famous Duckor collection and is yet to be fully recognized. It has been assigned a grade of MS-66 by the Professional Coin Grading Service (PCGS). This is the highest grade ever assigned to a coin of this series. In fact, only three 1893-O halves have been assigned a similar grade by the PCGS. The Duckor-Price 1893-O has an interesting history. Initially, this coin was a part of the James A. Stack Sr. collection, which ranks among the top fifteen greatest collections of US coins. After that, it became a part of the Thaine Price Collection, and then it was finally bought by Dr. Duckor.
In the early 1990s, when the grading standards were tough, this coin was graded MS-65 by the Numismatic Guarantee Corporation (NGC). However, when Dr. Duckor submitted this coin to the PCGS for grading in June 1998, it was assigned a grade MS-66. This coin has also been approved by the Certified Acceptance Corporation (CAC).
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