Source: UBS CIO Daily Updates by Chief Investment Office08 Jun 20233 min read Thought of the day The price of gold has remained under pressure following the stronger US employment report supporting expectations that the Federal Reserve will “skip” rather than ending hikes at its policy meeting next week. The potential for higher rates over coming months,…
This date-mintmark combination is famous because of the unique three dollar gold piece. Although far from unique, specialists in this series recognize the 1870-S gold dollar as a challenging issue. Dave Bowers points out in A Guide Book of Gold Dollars that despite a reported mintage of 3,000 pieces, “it is likely that 2,000 lacked the S mintmark.” Indeed, the first sets of dies sent to the San Francisco Mint for 1870 production inadvertently…
The Trade dollar was not produced in business-strike format after 1878, but the Philadelphia Mint coined a limited number of proof coins every year to satisfy collector demand. This led to a short-lived speculation in Trade dollars that crested early in 1880, leading to a series-record proof mintage of 1,987 pieces that year. By 1881, the demand had dropped off considerably, and only 960 proof Trade dollars were struck….
Silver dollar production declined drastically at all U.S. mints in the mid-1890s. Following the Panic of 1893 and the repeal of the Sherman Silver Purchase Act there was no commercial demand for the coins and no official mandate to produce them. Accordingly, the New Orleans Mint struck a small mintage of just 450,000 Morgan dollars that year. Unfortunately, the issue was not well-produced and many examples seen have weak strike characteristics and subdued mint luster. Most of the mintage circulated…
After numerous common date Philadelphia Mint double eagles were issued through 1928, mintages continued at substantial levels in 1929 and beyond. However, beginning in 1929 these pieces were not widely distributed, but rather, were stored in Treasury vaults awaiting their fate in the government melting pots of the mid and late-1930s. In Encyclopedia of U.S. Gold…
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