Pre-33 gold is a numismatic term that refers to the United States based coins minted before 1933. Their interesting background and history, multi-faceted value indicators, and several other characteristics make these coins a fascinating topic in coin collecting communities. Although the list of fun facts regarding pre-33 gold coins could be rather extensive, the list of “need to know” information can be condensed to just a few crucial points.
More than all else, there are three important items to note about these precious metal pieces. The need-to-know topics include a brief synopsis of their history, the value and general demand of various pre-33 coins, and whether or not these pieces are worthwhile for collectors. While the depth of these historic coins is vast, these three topics, in combination with one another, do a more-than-sufficient job of telling the story.
Pre-33 gold coins are significant pieces of American history because they were made when authentic 100% gold coins were minted for our nation’s currency. During the Great Depression, President Franklin D. Roosevelt enacted a nationwide order for citizens to hand over their gold to the federal government in exchange for compensation. This action was not well-received by many Americans.
The goal behind what was known as Executive Order 6102 was part of a larger plan to devalue the American currency. A reduced value of the United States dollar would have led to a spike in gold prices. This, in turn, would have encouraged the public to hang onto their gold as opposed to spending it and stimulating the economy. Thus, the action was taken to collect as much of the public’s gold as possible, including pre-33 gold, melt it down to bars, and no longer use the precious metal in the creation process of U.S. coins in monetary circulation.
Because there are several designs of pre-33 gold coins, it is unfortunately not as simple as naming a singular value. Ultimately many factors come into play when determining value. These factors include design, rarity, date, grade, and more.
Rarity remains a crucial consideration in value determination. These coins are no longer minted, and many were melted down after 1933. It is important to note that pre-33 gold coins are rare in general. Additionally, the value of these precious metal pieces is not as straightforward as simply rarity. The current value of gold, how much gold each pre-33 piece contains, and the historic sentiment behind each coin all play a role in the final value determination.
Some popular pre-33 gold pieces include the 1900 or 1901 Liberty Head $2.50 coins, 1926 $10 Gold Indian Head, and 1904-S Liberty Head $5 coin. Of these, the $2.50 Liberty Head holds an average value of about $500. The $10 Gold Indian Head is valued at an average of $1,200, and the Liberty Head $5 coin is averaged at approximately $480.
Right now is an opportune time to add pre-33 gold coins to your collection. Some of the critical considerations in purchasing these pieces soon include their rarity, background, interesting historical sentiment, and the fact that they contain certified gold.
For many reasons, pre-33 gold coins should be intriguing to any coin collector. In adding these pieces to your collection, you are also adding a souvenir from one of the most infamous times in American history, which is sure to be remembered for years to come.