October 21, 1986 |
Demand was brisk yesterday for American Eagle coins, the first general- circulation U.S. gold coins to be minted in more than a half-century By the end of the day, officials at the U.S. Mint said they had processed orders for more than 320,000 ounces of gold from two dozen primary dealers. The coins, which are aimed at investors, will have a face value of $50, $25, $10 and $5 but will sell for far more than that. The price will fluctuate, reflecting the price of gold. The coins will contain gold in amounts ranging from one-tenth of an ounce for the $5 coin up to a full ounce in the $50 gold piece.
September 11, 2012 |
This story was updated at 11 a.m. Monday A federal judge has upheld a 2011 jury decision that a Philadelphia family that found 10 purloined gold coins worth at least $7.59 million each cannot keep them. The coins, "double eagle" $20 gold pieces, were among 445,500 the Philadelphia Mint produced in 1933 that were never circulated because the federal government that year outlawed the possession of gold coins. "The disputed double eagles were not lawfully removed from the United States Mint and . . . remain the property of the United States," U.S. District Judge Legrome D. Davis wrote in his Aug. 29 judgment, upholding the decision of a federal court jury in July 2011.
May 29, 1988 |
When the Spanish treasure galleons Nuestra Senora de Atocha and Santa Margarita were found off the Florida coast in 1982, historians had to alter the dates for the earliest minting in the New World. Among the 180,000 coins found in those wrecks were three gold coins dated 1622. Until then, no gold coins were known to have been struck in the Americas before 1628. One of those three coins will be sold at auction June 14 at Christie's in New York. A small number of silver coins recovered from the same wrecks also will be auctioned.
June 1, 1986 |
Old-time radio listeners might remember "Parkyakarkus," a character created by Boston-born Harry Einstein. Besides being a radio personality and sometime movie actor, Einstein, who died in 1958, was a keen coin collector who was able to retire from show business at the age of 44 on the strength of his investments. His collection will be sold June 23-25 as part of a major offering of coins at the St. Moritz-on-the-Park Hotel, Central Park South in New York City. Einstein's collection ran to gold, and of the 855 lots in the catalogue, about 650 contain important gold coins.
December 22, 2000 |
Each Christmastime, for the past five or six years, a benevolent and anonymous donor has dropped several valuable gold coins into a Salvation Army kettle somewhere in Philadelphia. Last year, he secretly dropped four coins, worth more than $300 each, into a kettle in Roxborough. But, it's beginning to look like Philly's Legend of the Gold Coins has ended. "Usually we have the gold coins by now," Chaz Watson, director of development for the five-county Salvation Army area said yesterday.
September 6, 1986 |
The United States will begin competing on Monday with South Africa, Canada and Mexico in the worldwide gold coins market when Treasury Secretary James A. Baker 3d strikes the first U.S. gold coin to be minted and sold to the public since 1932. The government hopes to start collecting some of the estimated $1 billion a year that Americans have been spending for foreign-made gold coins ever since private ownership of gold became legal in this country in 1973. But, as with so much of what the federal government does nowadays, the sale is already steeped in politics, controversy and confusion over its design and its marketing.
February 2, 1986 |
For collectors and investors, 1986 is the year of the gold coin. Not only will the Statue of Liberty gold commemoratives be introduced, but about Oct. 1 the first U.S. bullion coins will be offered for sale. Legislation to authorize the bullion coins, signed in mid-December, directs the Treasury to issue one-ounce coins and three fractional coins: one-half, one-quarter and one-tenth ounces. The legal tender coins will have nominal values of $50, $25, $10 and $5, but their sale price will be keyed to the price of gold plus a surcharge to cover production and distribution costs.
October 12, 1986 |
An unusually large collection of gold coins minted in San Francisco will be sold Oct. 22-23 at the Omni Park Central Hotel, 56th St. at Seventh Avenue, New York City. The trove of gold coins from a private collection includes complete sets by year, mostly in uncirculated condition. The collection, which will be auctioned by Sack's, also includes complete coinage by Augustus Saint-Gaudens by year. The San Francisco Mint began production in 1854 in the wake of the California gold rush.
October 19, 1986 |
Tomorrow is the date for the first sales of the U.S. gold bullion coins. However, Treasury Department officials say that buyers will not be able to walk into their banks and coin shops and walk out with gold coins. "Everybody has made out that this is a magical day," said a Treasury spokesman. "Actually, we are still getting our network going because we decided to sell these coins through a network of established private dealers - banks, brokerage houses, precious metals dealers and coin shops.