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November 2, 2009

November 2, 2009 – One of the most beautiful and highly sought of all American gold coins is the $10 Lady Liberty gold coin. It remains a must-have for collectors and a popular diversification option for long-term US investors. The vast majority of these coins were melted down in 1933 by decree of President Franklin Roosevelt, when he declared that the US banking system was in a state of imminent financial crisis.

Roosevelt outlawed the hoarding of gold, and millions of the $10 Lady Liberty gold coins were retrieved between 1933-1971. The melted coins were formed into bars and stored at Fort Knox, Kentucky, and our Treasury Department could then claim that our dollar was backed with real value. Forget the fact that our citizens would’ve rather kept the gold for themselves (similar to our current situation), because our government would never allow for the demise of the greenback…if they could help it.

After President Richard Nixon removed the US from the Gold Standard in 1971, we were again permitted to invest in physical gold. Of course, this meant that the Treasury Department could again fire up the printing presses, which has created a situation very similar to that of 1933. The surviving $10 Lady Liberty gold coin investments could be useful in the event of another gold confiscation, which many economists believe is imminent. Many of these coins have been certified as Mint State by either the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC), and they would most likely not be confiscated by our government.

In addition to the non-confiscatable status of these rarities, many investors appreciate the substantial profits that these certified coins have generated. The MS64 $10 Lady Liberty, which is a half-ounce coin, has produced almost double the profit of a half-ounce gold bullion investment every year for the last three years. Investors who would like to preserve their wealth and possibly and expand it are encouraged to contact a reputable gold dealership for live quotes and helpful assistance. 

Kevin Johnson

Senior Staff Writer – GoldCoin.net

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