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Where are all the gold bullion rounds? |
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A question which used to bother me has just been answered over at the goldismoney site: why can't you buy non-denominated gold bullion rounds in the same way and in the the same variety you can buy privately minted silver bullion rounds of all kinds? In the 19th century many American jewelers, particularly in California, manufactured and issued their own gold currency coins, marked with dollar values, and these became widely circulated. You can look at examples of all of these in the Krause Modern World Gold Coins guide. Of course, the government made sure this was stopped, and all private coinages were made illegal. The gold coins which survive are now hugely expensive for collectors, even in only 'Fine' condition, as the Krause guide indicates. But why don't modern private mints issue their own gold coins without a dollar value on them? The answer is of course that they do, although they are not popular with collectors as they worry about their resale value to buyers who may not be familiar with them or trust them (in the way that coins issued by national governments can be trusted to be what they seem). You can get gold rounds issued by Scotiabank and APMEX, and the formerly issued Engelhard rounds. Commemorative gold coins are often issued too, but again you are trusting that there will be a market for them if you come to sell them.
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Daily Gold Coins blog
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