New gold coins vs old gold coins – what’s the difference? Is there any difference? And why should you care? There are companies all over the world touting the advantages of both, but we’re here to delve into the truth. Which one, if any, is a good investment.
Old Gold Coins vs New Gold Coins
Gold is gold right? For the most part, yes. It is an element that occurs naturally on Earth and is used in many forms. Gold coins on the other hand are not created equal.
Some will argue that old gold coins are any gold coins minted before 1933 – the date of President Roosevelt’s executive order nullifying the gold standard and requiring all Americans to turn in their gold coins. Others will say that 1986 stands as the marker separating old gold coins from new gold coins for this marks the year the date the U.S. Mint began producing the modern Gold Eagle.
Old Gold Coins, known as the Double Gold Eagle, minted pre-1966 are touted as “rare and valuable” by telemarketers and TV personalities; so many were confiscated by the government that to find one is like spotting the Loch Ness monster. Well, that’s not exactly true. Experts surmise that only 25% of the pre-1966 gold coins were turned in, which means there are plenty still circulating amongst collectors and investors.
On the flip side, new gold coins – that is post 1986 gold coins- knows as Gold Eagles are likely sold widely, albeit much more widely that the old gold coins. In fact, the modern Gold Eagle is the most popular gold bullion coin sold worldwide.
Which has more value, Old Gold Coins or New Gold Coins?
You’ll hear many gold companies promoting the value of Double Gold Eagles and/or Gold Eagles. They both have their benefits, but you’ll need to determine what kind of investor you want to be.
The Double Gold Eagle – the old gold – sells at a higher premium; typically 30-50% above spot price for gold. More often than not those telemarketers we mentioned earlier add a significant percentage to the price and push the old gold using slick sales tactics, for example referencing the 1966 executive order.
However, collectors may find a significant profit from a Double Gold Eagle if they come across one in exceptional condition.
The Gold Eagle – the new gold coins – are sold at a minor markup, which is why coin investors flock to this coin. “What truly sets American Eagles apart is that they are the only bullion coins whose weight, content and purity are guaranteed by the United States Government. Investors can buy them with confidence, knowing the coins contain their stated amount of gold. In addition, long-term savers can include American Eagles in their Individual Retirement Accounts (IRAs).” (U.S.Mint/gov)
Unless you are a coin collector, we recommend investing in the new gold coins. As mentioned above, the Gold Eagle has many benefits that set it apart as one of the best gold coin investments you can make. We do however understand that some investors are interested in the Double Gold Eagle. Whatever your preference, our team will guide you through the gold buying process and make sure you have the right gold coins for your needs. Visit us online today for more information.
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