Fortunately for nature lovers, the eagle known as the golden eagle still survives in all its magnificence but, alas, the gold eagle is no longer with us in the form that was intended for it. In 1792, the USA Coinage Act instigated a currency system based on gold. The system had four main decimal based units. These were the cent, the dime, the dollar plus the leading coin which was the gold eagle with an official gold equivalent of $10. The dime was 10 cents, a dollar was 10 dimes and the gold eagle was 10 dollars. Other gold coins were the quarter eagle at $2.50, the half eagle at $5 and the double eagle at $20.
Due to its nature, gold has and will always be in somewhat short supply, hence its high value. As gold prices rose since the introduction of the eagle system, it did not make any economic sense for the Government to be minting coins whose metal value was higher than their face value as currency.
Anyone could go to a bank and draw out eagles and then melt them down to sell the gold for a profit. Therefore, constant adjustments were needed to the ratio of gold to other metal alloys in the production of eagles.
Effectively, the Government gave up in 1933 and abolished the gold standard eagle system. 445,500 double eagles to a 1907 design by Augustus Saint-Gaudens were actually produced in 1933 but almost none of them got into circulation. Of the few that were not melted down, a surviving Saint-Gaudens 1933 double eagle was purchased at auction in 2002 for a whopping sum of $7,590,020.
Eminently Collectable Both For Historic And Investment Reasons
In addition to stopping production of gold eagles in 1933, the Government also introduced restrictions on individual ownership of both gold coins and gold bullion. The ownership of collections of gold coins of significance was allowed but many people had little option than to return their gold currency coins to the banks. One way or another, all coins in the original eagle system became very hard to find and, consequently very rare. Anyone intending to Buy Gold Eagles In Seymour TX or elsewhere should be prepared to pay high prices for each and every coin.
However, in 1986 the Government started to mint investment American Eagle bullion coins in both silver and gold – platinum was introduced in 1997. You do not Buy These Gold Eagles In Seymour TX since they are readily available from the US Mint.
When looking to Buy Gold Eagles In Seymour TX that were minted in 1933 or earlier, you would be well advised to contact expert numismatist and bullion dealer Gene Wheeler on 940 888-3832.
