As gold prices rise, the question more and more folks ask is “Are there any gold coins that are still affordable?” Of course, that’s a question with a variety of different answers, because what’s “affordable” to one person may still be astronomically expensive and completely out of the financial reach of someone else. That being said, most can agree that gold coins with lower price points are certainly more financially obtainable to a larger number of people than gold coins that cost significantly more.
Thankfully, even amid loftier gold prices, many pieces can be had for a fraction of the commonly cited per-ounce gold price quotes. Among United States coins, there are several smaller gold coins with melt values that are less than 20% of the current per-ounce gold price. These include the following gold coins:
- Gold Dollars of 1849-1889 – Struck during the heart of the 19th century, these small gold coins contain 0.4837 ounces of pure gold and are widely collected as type coins. There are three distinct types, with one showcasing the bust of Miss Liberty on the obverse and the other two featuring Miss Liberty with headdresses inspired by indigenous ceremonial attire. These pieces generally command notable premiums above face value, though common dates with excessive wear or signs of past cleanings can be obtained for prices closer to their melt value.
- Quarter Eagles ($2.50) of 1796-1929 – Several types of quarter eagles were struck throughout the duration of the $2.50 denomination. Earlier types, including the Draped Bust (1796-1807), Capped Bust (1808-1834), and Classic Head (1834-1839), are usually priced well above spot prices. However, the latter types, which contain .12094 ounces of gold and include the Liberty Head (1840-1907) and Indian (1908-1929), can frequently be found at prices much closer to spot value; this is especially true when common dates with wear or condition-mitigating factors are involved.
- Commemorative Gold Dollars of 1903-1922 – During the era of classic U.S. commemorative coin production, which ran from 1892 through 1954, the Mint produced a handful of different gold commemoratives, including gold dollars. While there’s a degree of scarcity with these gold dollars, they are usually much more affordable than the larger pre-1933 gold coins of the regular production run. They should be considered as viable options by anyone who wants to buy affordable gold coins.
- 1915 Panama-Pacific and 1926 Sesquicentennial of American Independence $2.50 – Another entry among the classic commemorative gold coins are the 1915 Panama-Pacific $2.50 and 1926 coin honoring the nation’s 150th anniversary. They are roundly considered scarcer gold issues but are frequently encountered. In lower grades, either can be had for but a small fraction of the price that you might pay for, say, a Liberty Head Eagle or Saint-Gaudens Double Eagle.
- Tenth-Ounce American Gold Eagles – The smallest of the American Gold Eagle bullion coins comes in a tiny but mighty tenth-ounce size. The tenth-ounce American Gold Eagles are monetized with a face value of $5 and come in a variety of finishes, including bullion, proof, and burnished. Given their diminutive size and relatively affordable cost, these small gold coins are highly popular as gifts and are often seen as entry-level purchases for new gold investors or those on tighter budgets. Bear in mind that due to the demand for American Gold Eagles, the tenth-ounce coins are usually not sold to retail customers at exactly spot price. PCGS-graded examples bearing a numerical grade of “70” may cost more than spot but are in high demand and offer terrific liquidity when the time comes to sell.
Along with the American Gold Eagles, all the other coins mentioned above are graded by PCGS and can be added to the PCGS Set Registry. This can give your investment portfolio the added panache of numismatic prestige and help you take better inventory of your coin holdings.