Gold coins are bought, sold, and traded worldwide. That is why coin collecting is not just a hobby; it has become a profession. Paper currency may lose its intrinsic value over time, but not gold coins. So how much is a gold coin worth?
Worth of Gold Coins
The value of gold changes every day, and as months and years pass, its value increases. But some gold coins are far more expensive than the others. Here are some factors that help determine the value of gold coins;
- Weight: The weight of gold coins vary from 0.5 grams to 50 grams. But the weight of the coin alone does not imply that the coin is pure gold content.
- Gold Content: Not all gold coins are made of 100% gold content. Say, for example, a Liberty Head Type One Gold Dollar Year 1849-1854 weighs 1.672 grams, has 90% gold content, and 0.04837 oz actual gold weight. Each gold coin has different gold contents or composition that may affect its value.
- Gold Spot Price: A gold’s spot price is its current price in the market. That is why some people wait for the gold price to increase in the market before selling it.
- Condition: A coin is given a grade by the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC). Grade 8 is very good, Grade 12 is fine, and 20 as the highest is very fine.
- Rare Coins: Uncirculated, rare, and scarce gold coins are worth a generous amount of money. Coin collectors look for rare coins and separate them from the common ones. They check the date, mintmark, condition, or even errors in production.
Value of Gold Coins in the US Market
To give you an idea, here are the value of gold coins in the U.S. market, according to Coin Study;
- $2.50 Liberty (1840-1907): $281 – $351
- $2.50 Indian (1908-1929): $266 – $347
- Liberty Five Dollar Gold (1839-1908): $437 – $471
- Indian Five Dollar Gold (1908-1929): $437 – $499
- Liberty Ten Dollar Gold (1838-1907): $884 – $918
- Indian Ten Dollar Gold (1908-1933): $902 – $940
- Liberty Twenty Dollar Gold (1850-1907): $1,788 – $1,845
- Saint-Gaudens Twenty Dollar Gold (1907-1933): $1,788 – $1,853
Of course, these are just their documented usual range as of date. In a few months or years, their values may increase or decrease. This may change depending on the gold spot price and coin condition as well.
Planning to Sell Your Gold Coins?
If you’re planning to sell your gold coins or bullions, always do your research. Check the internet, ask advice from experts, and look for the most trusted sellers within your area. Get the best deal and fair price out of your collection.
Here at Clark Pawners & Jewelers, we are ready to appraise the value of your gold coins with honesty and professionalism. If you need quick cash with the best deal you can get in Chicago, give us a call at 773-528-7900. We will buy any gold coins you have, even jewelry and watches. Bring in your gold coins in Chicago’s # 1 Pawn and Jewelry Shop.