As someone who is new to do initial investments in coins, it’s understandable if you are a bit anxious about making your first purchase. Searching for a rare or historical item to start your coin collection can be tempting and might even be a shrewd investment. However, if you buy a well-known, widely recognized coin, you will have an easier time selling it further down the line. Here are three coins that can serve as safe initial investments to help you get started.
Morgan Silver Dollar
Circulated from 1878 to the early 1900s, Morgan silver dollars are one of the most popular U.S. coins among initial investments. Composed of 90% silver, Morgan silver dollars are highly accessible and have a unique design, which features an image of a left-facing Liberty on the obverse and an eagle with outstretched wings on the reverse. The highest minted Morgan silver dollars are from 1921. The combined mintage from the Philadelphia, Denver, and San Francisco Mints is roughly 40 million coins. Due to the large number of 1921 Morgan dollars produced, they can typically be acquired at a lower price point than the pre-1921 Morgan silver dollars. Expect to pay more for key date, low mintage, high-end condition, and certified Morgan dollars. When buying these coins online, there are several proactive measures new collectors can take to avoid buying fake Morgan silver dollars.
Pre-1933 American Gold Coins
Signed in 1933 by President Franklin D. Roosevelt, Executive Order 6102 restricted private citizens from having more than $100 worth of gold coins and bullion. This order was intended to combat hoarding gold, which had become common at the time, and allow the Treasury to increase the money supply during the Great Depression. Americans had to sell most of their gold to the government, and those who complied were compensated with the spot price of gold at the time, $20.67 per troy ounce. Many of the gold coins the government acquired were melted into gold bars. Because many citizens complied with the order, American gold coins minted prior to 1933 tend to be higher demand coins that frequently sell at a premium. Outside of the key date coins, most of these coins are viewed as semi-numismatic or collectible coins. These coins are especially popular with investors who are concerned with the potential of future confiscation, as collectible coins were exempt from confiscation under Executive Order 6102.
Gold Double Eagles
St. Gaudens Double Eagle coins are an excellent example of an American gold coin that was minted before 1933. Due to Executive Order 6102, its lifespan was relatively short, and the St. Gaudens Double Eagle circulated for only 26 years before American citizens had to sell their gold to the government. With a striking design and limited supply, these are highly sought-after gold coins that hold their value well. In fact, because the Saint Gaudens is such an iconic coin, the design of the obverse, or front of the coin, was used as the obverse on the modern American gold eagle, which has been produced since 1986.
Buy items for your coin collection with confidence by working with a reliable expert. Atlanta Gold & Coin Buyers is a family-owned dealer of rare coins and bullion in metro Atlanta that also offers services nationwide through our mail-in appraisal program. Request an appointment with our staff by filling out our contact form today.
