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By Dr. Steve Carr
What is the highest denomination coin struck by the US Mint? Anyone who has studied American coins for a little while knows that US Mints struck $20 gold coins for circulation. Many were used for overseas commerce. This is one reason why thousands of them, held by European banks, came back to America in the 1980s and 1990s (and are still coming back today). If you said $20, you are correct for circulation strikes. But the US Mint in Philadelphia also struck some larger denomination gold coins. These include $50 and $100 coins. These coins are either patterns or bullion coins. The first were struck in and dated 1877. These were struck as patterns and were two and a half times the weight of a $20 double eagle, weighing 2 ½ ounces. They were 90% gold and 10% copper, just like the then circulating gold coins. By Dr. Steve Carr
Most people probably buy their first coin on a whim. I mean, you are paying more for it than the coin can buy in commerce. Why? Maybe it is the allure of an older coin. Maybe it is the thought of owning a genuine piece of American history. Maybe the coin just caught your attention. For some, that will be their only coin purchase. The coin will probably be placed in a desk or dresser drawer, waiting to be discovered by a future generation of coin collectors. |
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April 2017
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