Gold and Silver Emerge as Big Third Quarter Winners
Posted onAs the days get shorter, the temperatures turn cooler and pumpkin spice everything is everywhere, gold and silver emerged as clear asset class winners in the
third quarter. Amid escalating war in the Middle East, the start of the Federal Reserve rate cutting cycle and uncertainty about the U.S. presidential election investors are piling into the safety of gold and silver.
Precious Metals Performance
In September, gold broke records again hitting a new all-time at $2,670 an ounce, while silver soared to a 12-year high at $32.00 an ounce. Gold is up 24% since the start of the year and silver has gained 28%.
Mideast War Heats Up
The match has been lit in the Mideast and the fire could blaze out of control at any time. At the end of the third quarter, it became clear the Mideast conflict is expanding as the war has widened to not only include Israel and Hamas but also Iran and Lebanon. War can create scenarios that spark big sell-offs in stocks, which is another factor supporting fresh inflows into gold as a safe-haven.
Fed Starts Historic Rate Cutting Cycle
The start of the Federal Reserve’s rate cutting cycle in September sparked a dramatic rally in gold—pushing the precious metal to another record high. The Fed went big with its first interest rate cut of this cycle with a jumbo sized half percent cut, bringing the Fed’s benchmark rate to 4.75% to 5.00%. This marked the first interest rate cut in four years.
In the Fed’s policy statement, it explained the move reveals “greater confidence that inflation is moving sustainably toward 2%” and that the central bank “judges that the risks to achieving its employment and inflation goals are roughly in balance.”
The Fed is expected to continue cutting interest rates through the rest of the year – including at the November meeting in the same week as the presidential election.
What does this mean for metals investors? Gold trends higher for nearly two years once the Fed begins cutting interest rates. Research from the Wells Fargo Investment Institute reveals that the start of Fed rate cutting cycles are extremely positive for gold ahead: “The average price of gold has tended to rise quite nicely and for nearly 21 months, following the start of past Fed interest-rate easing cycles.”
Jobs Market Running Out of Gas
The latest government data reveals that job growth is slowing. Over the past three months, the number of new non-farm jobs fell from an average of 250,000 per month in 2023 to just 116,000 new jobs per month.
The high level of interest rates has been one factor weighing on job growth and is slowing the overall economy. Employers have pulled back on hiring as high interest rates has slowed consumer buying of big-ticket items from homes to cars to furniture. The slower consumer demand hurts profit margins, so employers pull back on new job creation. This adds fuel to speculation that the Fed may need to continue to go big with future interest rate cuts and may need to slash rates by another half percent at its November 6-7 meeting.
Consumer Confidence Plummets
Worries about jobs drove the September Consumer Confidence Index sharply lower to 98.7 from 105.6 in August, the Conference Board said. The September plunge in consumer confidence marked the biggest drop since August 2021 and showed deterioration in all five components of the index. Americans worry about the upcoming U.S. Presidential election, the increasing military conflict around the globe, and the still high cost of everyday items like food and interest on loans for homes, cars and credit cards.
Polarized Nation Set to Vote for President in November
Another factor injecting uncertainty into the financial environment is the November presidential election. Polls reveal a near dead heat between Donald Trump and Kamala Harris. And investors and Wall Street are bracing for what could be two extremely different policy directions on issues like taxes and trade and what those policies could mean for the economy ahead.
This all adds up to a stock market vulnerable to big swings up and down. That’s another reason that investors have been piling into gold this year. Gold provides protection and wealth preservation against a number of unforeseen events that could cause other asset classes to tumble. Consider this.
- During the 2001 dot.com stock market crash, the S&P 500 was down 47% and gold was up 16%.
- During the 2008 global financial crisis, the S&P 500 was down 55% and gold was up 21%.
The U.S. Government Debt and Gold
Gold has a proven track record over thousands of years as an asset that can preserve wealth. Today, affluent families and everyday Americans are turning to precious metals in greater numbers many reasons including protection against the historic and ever-rising levels of U.S. government debt.
Consider this: In 2024, the U.S. government debt has soared above $35 trillion, that’s up from $27.1 trillion in 2019.
Most concerning to many policy watchers is that the rising debt levels are occurring during peace time when the U.S. economy is growing. Historically, the debt rises during economic recessions, not periods of peacetime and economic growth. This leaves the U.S. vulnerable to an even bigger increase in the debt during the next recession.
Unlike the U.S. dollar, gold is a currency that is beholden to no national government and has no obligations or debts against its value. There is no counter-party risk when you own gold and a government can’t simply devalue gold or print more of it.
The Bottom Line
Gold is a clear winner in this environment. The start of the Fed easing cycle is positive for the precious metals complex and will help gold continue to power higher in the months ahead. New forecasts from Citi Research reveal analysts there say gold could reach $3,000 an ounce by mid-2025.
These forecasts reveal lots of performance gains ahead, meaning it is still an optimal time to increase your allocation to gold. Investors who own gold have done better than portfolios without gold over the past twenty years. Is your portfolio properly allocated to deliver maximum returns and maximum safety? If you aren’t sure, give us a call we are happy to help.
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Consumer Confidence Plummets, Gold Hits Record High
Posted onWorries about jobs drove the September Consumer Confidence Index sharply lower to 98.7 from 105.6 in August, the Conference Board said.
Meanwhile investors continued to pile into gold driving the precious metal to another record high at $2,670 an ounce in late September.
The September plunge in consumer confidence marked the biggest drop since August 2021 and showed deterioration in all five components of the index. Big picture, Americans worry about the upcoming U.S. Presidential election, the increasing military conflict around the globe, and the on-going high cost of everyday items like food and interest on loans for homes, cars and credit cards.
Concerns about the labor market were a key factor in the confidence decline, the Conference Board said. In September, Americans were more pessimistic about future labor market conditions and less positive about future business conditions and future income.
Here’s some details:
- The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell by 10.3 points to 124.3.
- The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—declined by 4.6 points to 81.7
Looking ahead…
Falling confidence could lead to lower consumer spending. Consumer buying plans for big-ticket appliances were mixed and plans to buy a smartphone or laptop/PC in the next six months eased, the Conference Board said.
The United States economy is consumer based and consumer driven. Consumer spending drives almost 70% of total gross domestic product (GDP). That means if people are less confident and spend less, the economy will slow in the months ahead.
The dramatic drop in confidence surprised many on Wall Street and is a signal of the conflicting views between Main Street and Wall Street. In the meantime, investors continue to turn to the safety of gold and silver.
Precious Metals Performance
Gold has surged 29% higher in 2024 and silver is up 21%, with silver recently touching a new 12-year high. Gold is a proven portfolio diversifier which provides investors with protection against equity market declines. Research shows that gold becomes more negatively correlated to stocks during extreme market sell-offs. (That’s a good thing and means that when stocks crash, gold typically climbs.)
- Gold has been particularly effective during periods of systemic risk, generating positive returns in nine of the ten worst years of performance for the global equity index, according to new research from Goldhub.
The Bottom Line
Investors who own gold have done better than portfolios without gold over the past twenty years. Is your portfolio properly allocated to deliver maximum returns and maximum safety? If you aren’t sure, give us a call we are happy to help.
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10 Valuable Rare Mexican Coins Worth Money
Posted onWhile the field of numismatics largely revolves around U.S. coins, a close neighbor to the U.S. also boasts many rare coins worth seeking out. This article will provide a rare Mexican coins list to guide collectors to identify and appreciate these valuable treasures. Specifically, it will talk about:
- Rare Mexican coin values
- The historical significance of sought-after Mexican coins
- Where to find rare Mexican coins for sale online
Watch a coin enthusiast discuss the rarest Mexican coins in this informative video:
When people think about the most valuable Mexican coins’ worth, shipwreck coins typically come to mind. However, many valuable coins from Mexico are not associated with shipwrecks. Here are 10 coins with rich histories that merit attention in their own right.
Rare Mexican gold coins
1. The 50 Peso Centenario: a rare Mexican peso coin
The Mexico Gold 50 Peso, also known as the Centenario, is one of the most iconic rare Mexican coins worth money. First minted in 1921 to commemorate the 100th anniversary of Mexico’s independence from Spain, the coin is celebrated for its stunning design and significant gold content of 1.2057 troy ounces.
The impressive piece’s obverse features the Angel of Independence, one of the most recognizable landmarks of Mexico City, symbolizing victory and freedom. Behind the Angel, the twin volcanoes Popocatépetl and Iztaccíhuatl are depicted, adding a dramatic backdrop to the coin’s design.
- Metal: Gold
- Years: 1921 – 1947
- Check our most current price here.
2. 1715 8 Escudos: a rare Mexican coin from the famed fleet
This 1715 8 Escudos coin is a distinguished piece from the series known as “Royals”. This refers to special presentation coins struck during the Spanish colonial period, characterized by high-quality strikes and round, flat flans.
The Philip V Royal 8 Escudos was minted in Mexico City during the reign of Philip V of Spain. It is particularly notable for its connection to the famed 1715 Fleet shipwreck off the coast of Florida, which adds to its historical and numismatic significance.
For those seeking answers to the question “What are the most valuable Mexican coins?”, it is safe to say this coin stands out due to its limited mintage and exceptional craftsmanship, making it a true treasure among early 18th-century coinage.
Philip V “Royal” 8 Escudos
- Metal: Gold
- Year: 1715
3. 4 Escudos Ferdinand VII: one of the most sought-after rare Mexican gold coins
The 4 Escudos Ferdinand VII coin is a notable piece in Spanish colonial numismatics. Collectors highly value it for its rarity and its role in the numismatic heritage of colonial Mexico.
Struck during Ferdinand VII’s reign in the early 19th century, this gold coin is historically significant as part of the War of Independence issues. These were coins minted during the Mexican War of Independence, often produced in limited quantities under challenging conditions with locally engraved dies.
This particular coin was minted by the Guadalajara Mint, which was the only provisional royalist mint authorized to issue gold coinage during the Mexican War of Independence. For all these reasons, it is considered one of the rare valuable Mexican coins worth collecting.
4 Escudos – Ferdinand VII Guadalajara
- Metal: Gold
- Year: 1812
Photo by Numista
4. Revolutionary 60 Pesos: one of the most valuable Mexican coins of all time
The Oaxaca Revolutionary 60 Pesos is a remarkable piece from the Mexican Revolution. Issued in 1916 by the provisional government in Oaxaca, it features the portrait of Benito Juarez within a wreath on the obverse and balance scales beneath rays with a “Liberty Cap” on the reverse.
When it comes to rare Mexican coins’ values, this coin stands out, as it exemplifies its period’s economic challenges and political upheaval, capturing a pivotal moment in Mexican history.
Oaxaca Revolutionary 60 Pesos
- Metal: Gold
- Year: 1916
Photo by American Numismatic Society
5. Maximiliano I 20 Pesos: among the most intriguing rare Mexican peso coins
Minted during the brief reign of the Austrian archduke Maximiliano I as Emperor of Mexico from 1864 to 1867, this coin holds a special place in Mexican numismatics. The coin’s design reflects both European and Mexican influences, through the depiction of the national coat of arms with the eagle and serpent and the regal portrait of Maximiliano I respectively. Due to its historical context and limited mintage, this 20 pesos coin constitutes one of the top answers to the question “What Mexican coins are valuable?”.
20 Pesos – Maximiliano I
- Metal: Gold
- Year: 1866
Photo by Numista
If you’ve been inspired by these rare Mexico coins, discover more valuable gold pieces here.
Rare Mexican silver coins
6. “Early Series” Rincón 8 Reales: the most valuable Mexican coin ever
Often referred to as the rarest Mexican coin of all time, this 8 reales coin is a prestigious piece from the early days of New World minting. This coin is considered historically significant not only because it was struck just two years after the Mexico City mint’s establishment, but also because it bears the initials of the mint’s first assayer, Francisco del Rincón. This makes it one of the pioneering large denomination coins in the Americas.
As one of the earliest crown-sized coins, it is in great demand in the numismatic market. Due to limited surviving examples, it has consistently commanded significant sums at auction.
Charles and Johanna “Early Series” Rincón 8 Reales
- Metal: Silver
- Year: 1538
7. Philip V “Milled” 8 Reales: rare Mexican silver coins
Even though a lot of numismatic discourse about Mexican coinage has revolved around El Cazador shipwreck coin 8 reales, the Philip V 8 reales coin is just as, if not more, important. As the first coin of the “Pillar Dollar” series, i.e. an iconic series of Spanish colonial coinage known for its distinctive design featuring the Pillars of Hercules, it is one of the most valuable rare Mexican coins worth money.
Struck in Mexico City, the Philip V 8 reales is thought of as a prized rarity as it represents a crucial transition in coinage due to its introduction of the milled process. This process enhanced the precision and uniformity of coin production compared to earlier hammered issues.
Philip V “Milled” 8 Reales
- Metal: Silver
- Year: 1732
8. 1 Peso Pattern Caballito: among the most beautiful rare coins from Mexico
An excellent answer to the question “Are Mexican coins valuable?” comes in the form of this 1 peso pattern coin. Created in 1909, this coin was engraved by the renowned Parisian artist Charles Pillet.
This amazing coin features a beautifully detailed design, with a rider on horseback on the obverse, symbolizing liberty and independence, and the Mexican national emblem, an eagle perched on a cactus, on the reverse. These pattern coins were produced in limited quantities and their raised letter edge is a distinctive feature that adds to their rarity and appeal among collectors.
1 Peso Pattern Caballito with Raised Letter Edge
- Metal: Silver
- Year: 1909
Photo by Numista
9. 1 Peso Maximiliano I Pattern Strike: a gem of Mexican rare coins
One of the most valuable Mexican coins from the Second Mexican Empire, this piece features a detailed portrait of Maximilian I on the obverse and the Mexican national emblem on the reverse.
While the coin’s design itself is not particularly innovative compared to others of its era, it stands out thanks to its pattern strike and the small letter style used in its inscriptions. This indicates a prototype or trial piece rather than a regular circulation coin. Pattern strikes are often rarer and more sought after by collectors due to their limited production.
1 Peso Maximiliano I with Pattern Strike and Small Letters
- Metal: Silver
- Year: 1866
Photo by Numista
10. Guerrero 2 Pesos: among the Mexico rare coins representing resistance
The Revolutionary Guerrero 2 pesos is a fascinating artifact that answers the question, “Are any Mexican coins valuable?” with a resounding yes. Minted in 1915 in the state of Guerrero, this coin reflects the regional minting practices that arose during the Mexican Revolution when centralized control was often disrupted.
This coin is particularly notable for its historical context, as it was produced during a time of intense political and social upheaval. This is reflected in its reverse which displays a liberty cap with rays, a common symbol of freedom and resistance.
Revolutionary Guerrero 2 Pesos
- Metal: Silver
- Year: 1915
Photo by NGC
If you’ve been inspired by these rare Mexican coins, discover more silver valuable pieces here.
Where to find rare Mexican coins for sale
From early colonial issues to revolutionary patterns, Mexican coins are prized for their rarity, historical significance, and unique designs. Their value is often driven by their historical context, limited mintage, and exceptional craftsmanship, making them standout pieces in any collection.
For collectors seeking to acquire these exceptional pieces, Blanchard offers an unparalleled selection of rare coins. Blanchard’s profound knowledge of rare coinage and market dynamics provides collectors with access to an exclusive range of highly coveted and historically valuable coins.
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Silver Spotlight: Gold Isn’t the Only Precious Metal Shining Bright
Posted onWhile gold has been stealing all the headlines and limelight, with its impressive +25% year-to-date performance, silver has been quietly and steadily racking up stellar gains in its own right.
How much has silver gained since the start of the year?
Silver is up an astonishing 30%.
In fact, this year, silver has topped the $30 an ounce level for the first time in a decade.
Surprising? Not really, when you consider the insatiable demand that the manufacturing industry has for silver within the solar, electronics and automotive markets.
Silver is benefiting from its so-called “dual demand” stream. Investors buy silver as an investment to protect and grow their wealth and manufacturers buy silver to produce a wide variety of products from solar panels to medical devices.
“From electrical switches and solar panels to chemical-producing catalysts, silver is an essential component in many industries. Its unique properties make it nearly impossible to substitute, and its uses span a wide range of applications,” the Silver Institute said. “Almost every computer, mobile phone, automobile and appliance contains silver. It is the perfect substance for coating electrical contacts—like those in printed circuit boards—because of its high electrical conductivity and durability. Painting silver ink on any non-metal surface provides an electrical pathway, eliminating the need for wires.”
Silver Demand Exceeds Supply
As industry discovers more and more uses for silver in manufacturing, it has created more demand for silver than there is supply.
In 2023, silver demand greatly exceeded silver supply (for the third year in a row), with a deficit of 184.3 million ounces, the Silver Institute said.
This year, the global silver deficit is forecast to increase to 215.3 million ounces, with an expected 2% growth in demand combined with a 1% decline in supply.
This Adds Up To Higher Silver Prices Ahead
Not only is silver poised to climb alongside gold over the next year as the Federal Reserve lowers interest rates, but strong industrial demand will keep the silver market tight.
Swiss banking giant UBS forecasts silver prices at $36 per ounce by March 2025 and $38 per ounce by June 2025. J.P. Morgan, is also upbeat on the prospects for silver ahead with an average silver forecast of $36 per ounce by 2025, supported by “strong macro fundamentals and a supportive supply and demand backdrop.”
Following the global financial crisis in 2007-2009, silver climbed to almost $50 an ounce. Do you own enough?
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The U.S. Government Debt and Gold
Posted onYou are probably aware that the United States of America national debt continues to tick higher every second of every day.
- In 1988, the U.S. government debt stood at $6.6 trillion.
- In 2001, the U.S. government debt stood at $9.9 trillion.
- In 2014, the U.S. government debt stood at $17.8 trillion.
- In 2019, the U.S. government debt stood at $27.1 trillion.
- In 2024, the U.S. government debt has soared above $35 trillion.
More concerning to many policy watchers is that the rising debt levels are occurring during peace time when the U.S. economy is growing. Historically, the debt rises during economic recessions, not periods of peacetime and economic growth. This leaves the U.S. vulnerable to an even bigger increase in the debt during the next recession.
Debt and Easy Money Policies
It’s no surprise the explosion in government debt levels corresponds to a period of increased money printing and easy monetary policy. Since 2000, central bank balance sheets in the U.S., EU, UK, and Japan have climbed nearly 10-fold, from $2.5 trillion to $22 trillion, according to State Street Global Advisors.
Q. What does this mean exactly?
A. The world is awash with paper money.
While debt levels are climbing and fiat money levels are expanding, the price of gold skyrocketed 586% over the same time period. “This is in part due to individual and institutional investors shifting into gold to combat pervasive, long-term risks stemming from the central banks’ increased debt and liquidity,” SSGA said.
Gold is Beholden to No Government
Unlike the U.S. dollar, the Japanese yen or the euro, gold is a currency that is beholden to no national government and has no obligations or debts against its value. There is no counter-party risk when you own gold and a government can’t simply devalue gold or print more of it.
In a world where politicians promise tax cuts to get elected alongside spending programs that cost more money, our country is facing an unsustainable debt load ahead.
It’s no wonder that institutions and individuals are buying precious metals this year, pushing gold 24% higher and silver 26% higher. Simply put, precious metals are insurance for your wealth. At some point the U.S. debt will face a financial reckoning day. When that day comes, gold will rise in value and the U.S. dollar will fall. Are your finances prepared for the day? If not, give us a call. We are here to help!
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Fed cuts rates 1/2% pushing gold to new record, up 24% YTD
Posted onFederal Reserve Starts Easing Cycle with a Jumbo Sized Rate Cut
The record-shattering gold rally of 2024 saw another burst of investor buying on Wednesday, following the Federal Reserve’s first interest rate cut of this easing cycle. The Fed came in big Wednesday with an aggressive half percent cut in benchmark fed funds rate.
Investors immediately bought gold after the news, which drove the precious metal to another record high above $2,600 an ounce on Wednesday afternoon. Stocks initially gained on the news, but quickly gave back some of the strength and the U.S. dollar fell following the Fed announcement.
New Fed Easing Cycle is Bullish for Gold
Gold is up an attention grabbing 24% since the start of the year and the Fed’s new monetary easing cycle is fresh gas in the tank for the rising bull trend in precious metals.
The Fed policymaker voted to cut the benchmark interest rate by half a percent at today’s meeting to 4.5% to 5.00%. In the Fed’s policy statement, it said the move reveals “greater confidence that inflation is moving sustainably toward 2%” and that the central bank “judges that the risks to achieving its employment and inflation goals are roughly in balance.”
While inflation remains above the Fed’s 2% target rate, it has fallen from a peak of 9.1% in 2022. The most recent consumer price index (CPI) came in at 2.5% annualized in August.
The 50 basis point rate cut was more aggressive than some on Wall Street had expected. But, the jumbo-sized rate cut was warranted given the recent sign of slowdown in the labor market.
Also bullish for gold was news from the Fed’s so-called “dot plot” which features future interest rate cuts.
Deeper and faster interest rate cuts are now forecast, which will be jet fuel for the current rising price cycle in gold. Fourteen of the nineteen central bankers expect interest rate cuts of at least two full percentage points by the end of 2025.
Wall Street Eyes Next Big Gold Target at $3,000 an Ounce
The start of the Fed easing cycle will help gold continue higher. New forecasts from Citi Research reveal analysts there say gold could reach $3,000 an ounce by mid-2025 amid the interest rate cutting cycle and strong physical demand.
Are You Sitting on the Sidelines?
Today’s news is the start of a fresh move higher in gold. It’s the perfect time to consider your personal financial situation. Have you bought gold or increased your allocation in 2024?
How much is enough? Recent research from the well-respected CPM Group stated that over the past 50 years, the best return of a portfolio including stocks, bonds, and gold was for portfolios that have around 25% -30% of their value in gold. This new phase in the gold rally is just getting started, with $3,000 as the next major target. If you’ve been considering buying gold, this is the perfect time to make your move. Give us a call, we are here to help.
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8 Most Valuable Rare Presidential Dollar Coins
Posted onPresidential dollar coins were first released in 2007 as part of an initiative to honor former U.S. presidents. With their unique designs and special role in commemorating American history, they quickly became very popular with collectors. However, with the series rapidly growing over time, collectors frequently wonder: “Which presidential dollar coins are rare?”. This piece will answer that question, highlighting:
- The most valuable rare presidential dollar coins.
- Collectible presidential bills.
- Sourcing rare presidential gold coins online.
Watch this informative video to learn more about the rarest presidential coins:
Rare president dollar coins
Throughout American numismatic history, presidents were notably absent from dollar coins until the inception of the Presidential $1 Coin Program in 2007. While they adorned other denominations of circulating coinage, such as the Jefferson nickel, Lincoln cent, and Roosevelt dime, design preferences for the dollar favored depictions of Liberty and allegorical representations of freedom, with few exceptions found in older rare president dollar coins commemorative designs.
The Presidential $1 Coin Program marked a historic departure, representing the first concerted effort to systematically and chronologically honor the nation’s presidents on circulating dollar coins. Since its inception, presidential dollar coins have not only gained monetary value but also garnered widespread interest among collectors, igniting a surge in popularity for collecting by president.
1. 2007-S John Adams Proof: A special find among rare $1 US president coins.
One of the most common answers to the question “What is the rarest presidential dollar coin?” is the 2007-S John Adams proof dollar. Struck at the San Francisco Mint, this coin features an image of John Adams, the second President of the United States, on its obverse side. The reverse design showcases a striking image of the Statue of Liberty.
The reason why this coin is particularly highly coveted among collectors is two-fold:
- Firstly, as it was sold exclusively as part of a four-piece proof set, it stands out for its limited availability.
- Secondly, unlike circulation strike presidential dollars, which have their edge inscriptions applied by a Schuler Edge Lettering Machine, this proof coin’s edge inscriptions were struck by a segmented three-part collar die.
2007-S $1 John Adams (Proof)
- Metal: Copper
- Year: 2007
Photo by PCGS
2. 2007 Missing Edge John Adams: A presidential dollar coins rarity.
When it comes to numismatics, rare error coins can make all the difference in one’s collection. Presidential coins are no exception and a case-in-point is this particular piece.
In 2007, some of the John Adams $1 coins bypassed the edge-lettering process at the Philadelphia Mint. This resulted in the absence of the standard edge inscription found on presidential coins, which includes the year of minting, the mint mark, and the motto “E PLURIBUS UNUM”.
2007 $1 Missing Edge Lettering John Adams
- Metal: Copper
- Year: 2007
Photo by PCGS
3. 2007 Missing Edge Thomas Jefferson: one of the most valuable rare presidential dollar coins of all time.
Another fascinating anomaly as far as rare $1 US president coins are concerned, this 2007 coin is also distinguished by its blank edge. While the Jefferson missing edge coin is the third in the series of presidential coins with blank edges (following the George Washington and John Adams coins), it is believed to be the rarest. With exceedingly few specimens surfacing for sale since its initial release, the 2007 missing edge Jefferson dollar today holds a coveted status within the numismatic community.
2007 $1 Missing Edge Lettering Thomas Jefferson
- Metal: Copper
- Year: 2007
Photo by PCGS
4. 2009 James K. Polk: the rarest presidential dollar coin featuring a visionary expansionist.
A popular answer to the question “Which presidential dollar coins are rare?” is the 2009 $1 James K. Polk Position A coin. Featuring James K. Polk, the 11th president of the United States, on its obverse side, and an image of the Statue of Liberty on the reverse, this piece is a collector’s favorite for its Position A edge lettering. This means its edge lettering reads upside-down when the president’s portrait faces up, a unique design aspect that captivates numismatists.
2009 $1 James K. Polk Position A
- Metal: Copper
- Year: 2009
Photo by PCGS
5. Satin Finish 2010-D Abraham Lincoln: one of the rare $1 US president coins honoring the Great Emancipator.
Paying homage to the 16th president of the United States, this special coin debuted in 2010, as part of an 8-Piece presidential dollar mint set, and then later reappeared in a 28-piece uncirculated mint set of the same year. Created at the Denver Mint, this Abraham Lincoln dollar is prized by collectors seeking the presidents of the United States of America rarities for its relatively low mintage and satin finish, which gives it an elegant look.
2010-D $1 Abraham Lincoln Pos B Satin Finish
- Metal: Copper
- Year: 2010
Photo by PCGS
6. 1903 McKinley Commemorative: a noteworthy addition to a rare presidential gold coins collection.
As savvy numismatists will know, the answer to “Which presidential dollar coins are rare?” is layered, encompassing not only the presidential dollar series but also commemorative pieces featuring presidents.
One such notable commemorative piece is the 1903 McKinley gold dollar issued as a tribute to McKinley’s contributions to the nation during his presidency, including his leadership during the Spanish-American War and his efforts to promote economic prosperity and industrial growth. Its obverse features a portrait of McKinley, while the reverse depicts an eagle perched atop a shield, symbolizing strength and resilience.
With its historical significance and limited mintage, this coin is cherished by collectors looking for a tangible link to a pivotal era in US history.
1903 McKinley $1 Gold Commemorative NGC MS66
- Metal: Gold
- Year: 1903
- Check our most current price here.
7. 1903 Louisiana Purchase Jefferson: a sought-after gem among rare presidential gold dollar coins.
Commemorating one of the most significant events in the nation’s expansion, this coin was issued to mark the centennial anniversary of the historic acquisition of the Louisiana Territory from France in 1803. As this transaction was orchestrated by President Thomas Jefferson, his portrait graces the obverse of the coin. A tangible reminder of America’s territorial growth and Jefferson’s visionary leadership, this exquisite piece is one of the most highly valued rare president dollar coins.
1903 Louisiana Purchase Jefferson $1 PCGS MS65 CAC
- Metal: Gold
- Year: 1903
- Get our most current price here.
8. 1922 Grant Commemorative: a unique specimen of rare president dollar coins.
Rare presidential gold coins enthusiasts will undoubtedly treasure the addition of this gem to their collections. Created to honor the 100th anniversary of the birth of General Ulysses S. Grant, the 18th president of the United States, this 1922 commemorative gold coin is known for its striking design. Its reverse features a beautiful rendition of the historic log cabin in Point Pleasant, Ohio in which Grant was born. With a mintage of only 5,000 pieces, the coin today is sought after by discerning collectors for its scarcity.
1922 $1 Grant Gold Commemorative PCGS MS65
- Metal: Gold
- Year: 1922
- View our most current price here.
Browse through more rare presidential gold coins and other valuable collectibles.
Rare presidential bills
Popular game shows or trivia questions often include inquiries like “the likeness of which president is featured on the rare $2 bill of USA currency?” Naturally, this makes many people wonder if it would be worth collecting those too. After all, numismatics is a field that encompasses paper currency.
While coin collecting often focuses on metal compositions, mint marks, and coinage errors, paper money collecting delves into factors like serial numbers, printing errors, and historical significance. Understanding what makes bills rare is crucial before embarking on the quest to find them.
Even though American presidents have been featured on paper money since the early days of the United States, some dollars are more rare than others. One such case is the aforementioned $2 bill, featuring a portrait of Thomas Jefferson on the obverse and an engraving of John Trumbull’s painting Declaration of Independence on the reverse of the note.
Despite having circulated for over 150 years, today it is produced in smaller quantities compared to other denominations as it is generally thought of as awkward to use in everyday transactions. Collectors will find that $2 bills from 1862 to 1917 with red, brown and blue seals are especially valuable today.
Where to buy rare coins
Presidential dollar coins are a tribute to former U.S. presidents, immortalizing their leadership and impact on the nation. Originally intended for circulation, these coins are today exclusively minted for collectors, with some issues commanding higher values than others.
For those seeking to add rare presidential dollars or other coveted pieces to their collections, Blanchard stands as a trusted source, renowned for their exceptional curation and expertise in numismatics. With Blanchard’s dedicated team on hand to address any inquiries about rare presidential gold coins and more at all times, collectors can embark on or enrich their numismatic journey with confidence.
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The 1857 Flying Eagle Cent: Beloved by Collectors for Many Reasons
Posted onThe year 1857 in American history included many significant events. These included the tragic sinking of the S.S. Central America off the coast of North Carolina, the Panic of 1857 (exacerbated, in part, by the financial loss from the S.S. Central America) which saw New York banks close in October, not to reopen until mid-December of that year, and Congress banned the use of foreign coins as legal tender.
In the numismatic world the Flying Eagle cent was released for circulation in May of that year—and collectors today still eagerly search out this popular series.
The 1857 Flying Eagle Cent marked a major shift in copper cents from large cents to small cents. There were a few reasons why this change was made. First, the price of copper was rising, increasing the costs to produce large cents. The second reason was more pragmatic. Americans simply didn’t like them. They were ugly, heavy and cumbersome.
In 1856, as Congress deliberated on legislation that would allow the production of new coinage, Mint officials created the 1856 Flying Eagle cent pattern coin present. It was well received and Congress passed the Coinage Act of 1857, authorizing a new small cent made from a mixture of copper and nickel.
This Act also outlined a process for Americans to turn in their large cents in exchange for the new small cent. The public loved it and when the Mint began official distribution of the Flying Eagle Cent in May 1857, long lines formed as people waited to trade in their old coins for the shiny new smaller cent.
Dramatic Coin Design
Mint Chief Engraver James Barton Longacre designed this dramatic coin. The obverse features a left-facing eagle with its wings outstretched in flight. Around the top, UNITED STATES OF AMERICA encircles the top two-thirds of the coin, with the date at bottom. The image of the eagle was influenced by work from Longacre’s predecessor, Christian Gobrecht.
On the reverse, a detailed wreath comprised of leaves, corn seed heads, wheat, cotton and tobacco is wrapped in a ribbon. Centered on the reverse are the words ONE CENT. All coins were minted at Philadelphia and so there are no mint marks on the coins.
In High Demand
The Flying Eagle was only minted until 1858. Striking problems occurred with the high-relief design, which triggered a design shift. The Indian Head cent replaced the Flying Eagle in 1859, making the Flying Eagle a short-lived but beloved coin series. The exciting history, show stopping design and its place in numismatic history as the first small cent make Flying Eagle Cents a highly collected series. Collectors typically want to acquire the 1856 pattern and the 1857 and 1858 coins. When they emerge for sale, they typically don’t last long. We have just one of these beautiful coins. See the 1857 Flying Eagle Cent here.
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Jobs Data Misses the Mark: All Eyes on Sept Fed Meeting
Posted onWall Street is counting on the Federal Reserve to cut interest rates at its upcoming September 18 meeting. The question is how big will that rate cut be—25 or 50 basis points?
The latest U.S. jobs data came in weaker-than-expected by a smidge, showing further signs the labor market is cooling. But, it appears to be a coin toss on whether this will push the Fed to cut rates in a bigger way this month.
No matter the size, the start of a new interest rate cutting cycle is positive for gold.
Looking at the jobs data, hiring has slowed from earlier this year. In August, non-farm payrolls rose by 142,000, the Labor Department said last week. However, that missed the mark of the 160,000 new jobs that economists had expected. The sectors which generated the most new American jobs in August included the hospitability sector with 34,000 new jobs, health care at 31,000 new jobs and construction with 34,000 new jobs.
Meanwhile, the overall unemployment rate edged down to 4.2% in August from July’s 4.3% reading—which was a sigh of relief to economists.
The verdict? The jobs report was a mixed bag.
Job growth was weaker-than-expected, but the drop in the unemployment rate was a slight positive. Investors who have been banking on a 50 basis point interest rate cut didn’t see the fuel from that report needed to push the Fed to definitively cut rates by that large of an amount.
Gold dipped modestly lower following the jobs report, but investors quickly used the price dip to buy more gold. Declines were limited and short-lived. Gold is trading just shy of its all-time record high at above $2,500 an ounce.
So whether the Fed cuts interest rates by 25 or 50 basis points it may not matter that much because a new trend is beginning for gold. Lower interest rates reduces the opportunity cost of owning gold, which will help increase the already heightened demand for the precious metal we’ve seen this year. The Fed is on the cusp of starting an interest rate cutting cycle that could help propel gold toward $3,000 over the next year. If you see any dips in gold, don’t wait too long to use them to accumulate precious metal. Dips aren’t lasting long in today’s market environment and before you know it gold may be sitting with a $3 and not a $2 at the beginning of its value.
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The Admiral Gardner Coin Treasure
Posted onThe Admiral Gardner was a significant vessel of the late 18th and early 19th centuries. Renowned not just for its role in the British East India Company’s trade, but also for its unfortunate end, the ship met a tragic demise in 1809 on Goodwin Sands. Admiral Gardner’s precious cargo of coins, salvaged years later, has been highly sought after by collectors ever since. This piece will uncover the full story of this iconic vessel, exploring topics such as Admiral Gardner shipwreck coin value and more, including:
- The significance of the 1808 Admiral Gardner shipwreck coin.
- What makes the 1809 Admiral Gardner shipwreck coin unique.
- Where to buy rare shipwreck coins online.
Watch this fascinating video about recovering the precious Admiral Gardner shipwreck coin cargo:
Admiral Gardner shipwreck story
Not to be confused with the Gardner island shipwreck, which took place in the Pacific Ocean and is often linked to the Amelia Earhart disappearance, the Admiral Gardner shipwreck occurred in 1809 on the treacherous Goodwin Sands. While it is true that the wreck is most famous for the 28,000 coins found on it, that is not even the most interesting fact about it. Here are some captivating facts about it, beyond the 1808 and 1809 Admiral Gardner shipwreck coin value:
- Ship name origin
The ship was named after Alan Gardner, the first Baron Gardner, who had a distinguished career in the Royal Navy before transitioning to political life as a Member of Parliament in 1796. Naming ships after prominent individuals to honor their contributions and legacy was a popular tradition at the time.
Alan Gardner was renowned for his leadership and strategic acumen as a naval officer. He participated in numerous naval engagements during the 18th century, including the American and the French Revolutionary Wars. The naming of Admiral Gardner after him honored his legacy as a respected naval commander and statesman of his era.
- Years of operation
The Admiral Gardner operated from 1797 to 1809. During its brief but impactful 12 years of operation, the ship played a crucial role in the transcontinental trade between Britain and the East Indies, carrying valuable cargoes and other goods essential to the economic interests of the British Empire during that period.
- Country of origin
The Admiral Gardner was built in 1796 in Blackwall, by the River Thames in Great Britain. It was specifically constructed and operated under the auspices of the British East India Company. Its home port of London, a bustling hub of commerce and naval activity, facilitated its voyages to and from the lucrative markets of the East Indies.
- Ship size
With a tonnage of 813 tons burthen, the Admiral Gardner was a substantial ship. It measured 44.4 meters in length overall, with a keel length of 36.1 meters. The ship had a beam of 11 meters, making it well-suited for transporting goods across long distances during its time in service.
- Ship function
Admiral Gardner was an East Indiaman. East Indiamen were large, sturdy sailing ships specifically designed for trade between Europe and the East Indies during the Age of Sail. These ships were operated primarily by European trading companies such as the British East India Company and the Dutch East India Company.
The Admiral Gardner’s primary role was to transport goods such as spices, silks, and porcelain, crucial for commerce between Europe and Asia during the late 18th and early 19th centuries.
- Shipwreck history
The English East India Company dispatched a fleet of ships to India and China annually. These ships carried valuable goods such as spices, textiles, and porcelain. One of them was the Admiral Gardner, which typically transported these essential trade items.
On January 24, 1809, Admiral Gardner set sail from London bound for Madras and Bengal as part of a convoy that included several ships. On that occasion, she was carrying a significant cargo of copper coins minted in England, intended for use in trade within the East Indies.
Unfortunately, the convoy of ships did not make it far before encountering a severe storm in the English Channel. Despite desperate efforts by the crew to save the vessel, she succumbed to the elements and was wrecked two days later, on January 26.
Buffeted by fierce winds, Admiral Gardner was driven onto the Goodwin Sands, a notorious stretch of submerged sandbanks off the coast of Kent, England. Alongside the Admiral Gardner, two other East Indiamen, the Britannia and the Carnatic, also suffered the same fate, getting wrecked onto the Goodwin Sands.
While historical records of the number of survivors vary, the Admiral Gardner captain and crew managed to reach safety, rescued by local lifeboats and vessels that braved the violent weather conditions to aid the stricken ship.
- Recovery
In 1984, a fisherman reported that his nets were repeatedly snagging on what was locally known as the wreck of the Admiral Gardner, leading to its discovery and subsequent recovery efforts. A team of divers located the remains of the vessel on the Goodwin Sands off the coast of Kent. They found the ship buried under layers of sand and silt, preserving much of its cargo and structure from the ravages of time. The ship’s cargo comprised primarily barrels of copper coins, along with cannon balls, anchors, iron bars, and copper ingots.
The primary focus of the recovery efforts was the vast quantity of copper coins minted by the British East India Company, which were intended for use in trade in the East Indies. The Admiral Gardner coin recovery operation was a meticulous process, involving careful excavation to avoid damaging the artifacts. The divers used advanced underwater archaeology techniques to map the wreck site and document the precise locations of the coins and other items. In the end, over 28,000 coins were recovered. All of them were remarkably well-preserved due to the protective sedimentary layers.
- Maritime preservation
The Admiral Gardner wreck site was designated as a Protected Wreck under the Protection of Wrecks Act 1973. This status recognizes its historical and archaeological significance, ensuring that any activities at the site are carefully managed and regulated.
In the late 180s, diving at the Admiral Gardner wreck site was suspended and no one is currently permitted to explore it. Located on the treacherous Goodwin Sands, the site posed significant risks to divers due to strong currents, shifting sands, and poor visibility. Moreover, there was growing recognition of the need to protect the wreck from unauthorized salvage operations and potential damage caused by unregulated diving activities.
Gardner rare coins to collect
In the mid 18th century, the Royal Mint struggled to meet the nation’s demand for bronze coins, which resulted in a shortage. Entrepreneurs saw a lucrative opportunity and, in response, began issuing privately minted tokens to fill the gap.
One such example was Matthew Boulton, who distinguished himself by producing high-quality tokens that gained widespread acceptance alongside official coinage. When issues emerged with the production of copper coinage in India, he was commissioned to make copper coins which would be later shipped out on Admiral Gardner.
While it is known that the Gardner coins never reached their intended destination, they were eventually recovered from the wreck site. They totaled 28,000 coins of two different types. This was unlike the SS Republic shipwreck coins, which included multiple types. Here is what we know about their historical significance and value.
1. 1808 Admiral Gardner coin
Minted under the direction of Matthew Boulton, this Admiral Gardner coin (1808) was intended for circulation in the East Indies. A stunning copper piece, it features a design of East India Company’s coat of arms on the obverse and the numeral “10” along the word “Cash” on the reverse. “10” indicates the coin’s denomination, while the term “cash” originates from the Tamil word “Kasu”, meaning “coin”.
In the early 19th century, due to the growing demands of trade and commerce within the British Empire, India was facing a significant currency shortage problem. For this reason, the Court of Directors instructed Great Britain to mint coins for them. More specifically, they authorized the production of a new series of copper coins, including denominations such as 20, 10, 5, and 1 cash, to replenish the circulating currency and stabilize economic transactions. Concurrently, the new Madras mint in India produced copper coins in 1807, ranging from 40 to 2.5 cash, aligning with local currency needs.
What makes the 1808 Admiral Gardner coin value especially high is its role in maritime history. Today, these coins serve as tangible relics of Britain’s colonial ambitions and economic pursuits in Asia. They are greatly sought after by collectors for offering insights into the intricate web of global commerce during the Age of Sail and their accessibility at reasonable prices, which makes them an ideal purchase for those interested in rare coin collecting on a budget.
However, it should be mentioned that collectors should exercise caution when purchasing this historic coin. With counterfeits of these coins increasingly prevalent in today’s market, it can be easy to buy an Admiral Gardner coin fake replica by mistake.
1808 Admiral Gardner Shipwreck 10 Cash coin NGC encapsulated
- Metal: Copper
- Year: 1808
Photo by PCGS
2. 1809 Admiral Gardner coin
Another remarkable relic of maritime history, the 20 Cash Admiral Gardner coin (1809) was also minted under Matthew Boulton with the intention of being circulated within the East Indies. Like its previous year predecessor, on the obverse, it features the distinguished East India Company’s coat of arms. The reverse displays the numeral “20”, indicating its denomination, alongside the inscription “Cash”.
Today, like 10 Cash coins, the 20 Cash Admiral Gardner coin is prized by collectors and historians alike for its historical context and numismatic value. It is particularly special because it showcases the craftsmanship of Boulton’s mint and the British Empire’s strategic use of currency in expanding its influence. These factors together enhance its 1809 Admiral Gardner coin value in numismatic circles.
20 Cash Admiral Gardner shipwreck coin (1809)
- Metal: Copper
- Year: 1809
To see more rarities, beyond Admiral Gardner shipwreck coins, click here.
Where to buy rare coins
The Admiral Gardner shipwreck and its recovered Admiral Gardner coins are poignant reminders of Britain’s maritime history and colonial ambitions in the East Indies. From their minting under Matthew Boulton to their recovery centuries later, these rare artifacts offer invaluable insights into global trade during the Age of Sail.
For those seeking exceptional coins like those from the Admiral Gardner, consider Blanchard. Contact Blanchard’s team for professional guidance on Admiral Gardner coin value and any other numismatic needs. They are dedicated to providing expertise and assistance whenever you require it.
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