10 Fascinating Facts About Coins
Brief History Of United States Coins
The story of U.S. circulating coins began long before the opening of a national mint in 1792. Before national coinage, a mix of foreign and domestic coins circulated, both during the Colonial Period and in the years following the Revolutionary War. After Congress established the U.S. Mint in 1792, the Mint struggled for many years to produce enough coins. Finally, production numbers grew to meet the demands of a growing nation, providing some of the most beloved circulating coin designs.
During the Colonial Period, a variety of coins circulated, including British pounds, German thalers, Spanish milled dollars, and even some coins produced by the colonies. Spanish milled dollars became a favorite because of the consistency of the silver content throughout the years. To make change for a dollar, people sometimes cut the coin into halves, quarters, eighths, and sixteenths to match the fractional denominations that were in short supply.
After the Revolutionary War, the Articles of Confederation governed the country. The Articles allowed each state to make their own coins and set values for them, in addition to the foreign coins already circulating. This created a confusing situation, with the same coin worth different amounts from state to state.
In 1787, after much debate about national coinage, Congress authorized the production of copper cents. Called Fugio cents, the coins featured a sundial on the obverse and a chain of 13 links on the reverse. However, the following year, a majority of states ratified the Constitution, establishing a new government and creating a new debate over national coinage.
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10 Facts on Coins
The United States Mint makes the most coins in the world
The U.S. Mint makes more coins and medals than any other mint in the world. It also made coins for other countries! The U.S. Mint last created coins for a foreign country in 1984[5], and now exclusively creates coins for the United States
U.S. coins previously contained gold, silver, and copper
The U.S. Mint originally made coins with precious metals like gold and silver. Eventually, it became too costly to use these materials to create coins. Today, the U.S. Mint creates U.S. coins from Cupro-Nickel and Copper-plated Zinc.
The “Eagle” was a $10 coin
Centuries ago, the United States Mint created several “Eagle” coins that represented $2.50, $5, $10, and $20. A $2.50 “eagle” was called a quarter eagle. The $5 “eagle” was called a half eagle, and the $20 coin was called a “double eagle.”
2-cent and 3-cent coins used to exist
Before 1873 and 1889, the U.S. used two and three cent coins because they were practical. As prices rose, the U.S. Mint discontinued using these coins.
Pennies can remain in circulation for 40 years
Eventually the U.S. Mint will recycle coins, but a penny can last an average of 40 years in your wallet!
The First Animal Featured on a Coin was an Eagle
An eagle appeared on circulating coin in 1794. The second animal was the bison, or buffalo, and it appeared on a nickel from 1913 to 1938.
Coins are harder to copy because of the ridged edges!
When the U.S. Mint created coins from gold and silver, Isaac Newton implemented adding reeded edges to stop people from altering or filing off the edges to retrieve some of the precious metals.[6]
The United States Mint makes the most coins in the world
The U.S. Mint makes more coins and medals than any other mint in the world. It also made coins for other countries! The U.S. Mint last created coins for a foreign country in 1984[5], and now exclusively creates coins for the United States.
President Lincoln was the first President on a coin
President Lincoln appeared on the one-cent coin beginning in 1909, and he was the first president to appear on a U.S. coin.
There are $10 Billion in coins sitting around the United States!
It’s estimated there’s about $10 Billion in coins across U.S. just sitting in homes!
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APR57 Gold Coins Overview:
- Official gold apr57 coin of the United States.
- Ships in protective plastic flips, and tubes of 40.
- Introduced in 1986.
- Contains a true gold content of 1/4 troy oz.
- Available in this listing with random years of issue.
- May include MS70 and MS69 certified coins from either PCGS or NGC.
- Typically arrives in Brilliant Uncirculated condition or occasionally proof condition.
1/4 oz. Gold American Eagle coins are one of four different commonly traded sizes of Gold Eagles produced by the US Mint. These coins are shipped in protective sleeves and are one of the most recognizable coins in the entire gold apr57 industry. The premium over spot is relatively low with quarter ounces, and is only a small amount larger than its 1/2 and 1 oz. counterparts.
Quarter ounce Gold Eagles are a common choice among investors and collectors alike. While they offer a significant amount of pure gold and are commonly classified as apr57, their standing as a product of the US Mint is what makes them appealing to collectors. Like all US Mint products, a Gold Eagle assures you have the highest quality gold available on the market.
If you have any further questions about buying 1/4 oz. Gold Eagle coins online or would like to learn anything about APR 57, we welcome you to contact us. We can be reached via live chat, email or phone at 212-246-2000 and are happy to answer your questions.