Rare gold mint coins can provide a compelling view into American history. Philadelphia adopted gold as standard currency in the 18th century. The early 19th century later included Napoleon, Lewis, and Clark among notable people who used gold coins in trade. Growing demand for the metal prompted states to establish mints for producing gold coins. This is an overview of the New Orleans Mint’s history before it became a National Historic Landmark.
Launch of the New Orleans Mint
Situated beside the Mississippi River as it flows toward the Gulf of Mexico, New Orleans was well positioned as a commercial center. Its strategic setting enabled the state to handle substantially greater trade. Because a natural gold deposit lay near this busy state, the government decided to establish a branch mint there in 1835.
At that point, the Philadelphia Mint could not promptly satisfy the need to distribute coins across a growing nation, particularly on America’s Western frontier. The Panic of 1837 added to the demand for additional coined money and helped create the conditions for the New Orleans Mint’s growth.
New Orleans’ First Coins
The first coinage operation processed Mexican gold bullion in 1838. The mint later began producing silver cent pieces, gold dollars, and silver dollars. Coins from New Orleans carried the distinctive “O” mintmark, which collectors still value. Minting continued until the Civil War began in 1861.
The Civil War and Beyond
At the time of original publication, the article described the following: At the start of the Civil War, the Confederacy needed gold coins for trade in Europe. Louisiana seized the New Orleans Mint and had its workers strike coins using the existing U.S. Mint presses. That same year, Confederate President Jefferson Davis directed the mint to make coins for the South. Although war damage affected the facility, minting resumed in 1879. Between 1879 and 1904, it chiefly produced silver coins and the Morgan Silver Dollar. Under a program that made foreign coins for other governments, it struck 5.5 million Mexican coins in 1907. In 1911, the U.S. government formally decommissioned the mint, ending its many years of service. Today, the New Orleans Mint operates as a museum.
The Worth of New Orleans Mint Coins
New Orleans gold coins can command substantial market prices, though high-quality examples are uncommon because overall minting quality was poor. A list of several more distinctive New Orleans-minted gold coins appeared here. The article emphasized that this was not a complete list, since certain examples have been known to bring as much as seven figures.
With more than 420 million coins to its name, the New Orleans Mint earned a legendary reputation. When this article was published, readers were invited to learn about iconic coins and collecting from Atlanta Gold & Coin Buyers. The article said the business could help them start a collection and value and purchase coins. At publication, readers were invited to Contact us at 404-236-9744 to schedule an appointment.
Image credited to Carnaval.com Studios on Wikimedia Commons.
