All pre-1933 US gold coins are 90% pure gold (0.900 fineness) with 10% copper for hardness — the same composition used for all US gold coinage from 1837 to 1933. At spot gold of $4,134.80 per troy ounce on October 7, 2026, a $20 Double Eagle contains $4,000 worth of gold at melt. But melt value is a floor, not a ceiling — even circulated common-date examples typically sell above melt due to collector demand.
Before pricing a pre-1933 gold coin as scrap, have it identified. Numismatic value usually exceeds melt value.
Coin Specifications and Melt Values (October 7, 2026)
All weights and compositions from US Mint historical records. Melt value calculated at $4,134.80/ozt (gold-api.com, 2026-10-07 07:29 UTC).
| Denomination | Total weight | Gold content | AGW (ozt) | Melt value |
|---|---|---|---|---|
| $1 Gold Piece | 1.672 g | 90% | 0.04837 | $199.99 |
| $2.50 Quarter Eagle | 4.180 g | 90% | 0.12094 | $500.07 |
| $5 Half Eagle | 8.359 g | 90% | 0.24187 | $1,000.13 |
| $10 Eagle | 16.718 g | 90% | 0.48375 | $2,000.27 |
| $20 Double Eagle | 33.436 g | 90% | 0.96750 | $4,000.53 |
Note: The near-round melt values are not a coincidence. Pre-1933 US gold coin weights were set by the Gold Standard Act so that each coin contained roughly its face value in gold at the then-standard gold price of $20.67/ozt. At today’s prices, each coin’s gold content is worth approximately 200 times its original face value.
Use the gold value calculator to see today’s melt values with live spot prices.
Design Series by Denomination
$20 Double Eagle (1850–1933)
The most commonly traded pre-1933 gold coin. Two main designs:
- Liberty Head (1850–1907): Designed by James B. Longacre. The most common type by mintage.
- Saint-Gaudens (1907–1933): Often called the most beautiful American coin. Designed by sculptor Augustus Saint-Gaudens at Theodore Roosevelt’s request. Common circulated examples (MS60–MS62) trade near melt; higher grades command significant premiums.
$10 Eagle (1838–1933)
- Liberty Head (Coronet Head, 1838–1907): Large, distinctive design.
- Indian Head (1907–1933): Incuse design by Bela Lyon Pratt (the design is recessed into the coin rather than raised).
$5 Half Eagle (1839–1929)
- Liberty Head (Coronet, 1839–1908): Long-running series with many mint marks and dates.
- Indian Head (1908–1929): Same incuse style as the $10 Indian.
$2.50 Quarter Eagle (1840–1929)
- Liberty Head (Coronet, 1840–1907)
- Indian Head (1908–1929)
$1 Gold Piece (1849–1889)
Smallest US gold coin. Three types: Type I (1849–1854), Type II (1854–1856), Type III (1856–1889). Common examples often sell within 5–15% of melt; rare dates and types command substantial premiums.
Why Melt Value Is Just the Starting Point
The example numbers above are pure metal values. The actual market price of pre-1933 gold coins depends heavily on:
Date and mint mark: Some dates were minted in low quantities or had high attrition. An 1879-O Quarter Eagle, for instance, might sell for a multiple of its melt value purely due to rarity.
Condition (grade): A heavily worn coin grades VF-20; a nearly perfect example might grade MS-65. The price difference between grades on the same date can be 10x or more.
Eye appeal: Strike quality, luster, and surface marks all affect desirability beyond a technical grade.
Type collecting: Collectors who want one example of each major design (not every date) create steady demand for common-date issues in a variety of grades.
A common-date $20 Liberty Head or Saint-Gaudens in VF-XF condition typically sells for a modest premium above melt — perhaps $100–$300 over the $4,000 melt value at current prices. Rare dates or high-grade examples can be worth tens of thousands of dollars. Always check current dealer pricing from a reputable coin dealer or recent auction results at PCGS CoinFacts or NGC Coin Explorer before selling.
The History Behind the 1933 Cutoff
On April 5, 1933, President Roosevelt signed Executive Order 6102, requiring US citizens to surrender all gold coins to the Federal Reserve by May 1, 1933 in exchange for paper dollars at $20.67/ozt. The order was intended to expand the money supply during the Great Depression.
Most gold coins were melted. Those that survived were held in collections, were overseas, or were exempted as numismatic coins. In 1975, legislation restored the right to private gold ownership, including pre-1933 coins. The coins were never demonetized — they remain legal tender, though their gold content is worth far more than their face value.
Selling Pre-1933 Gold Coins
Given that numismatic value typically exceeds melt:
- Identify the coin: Note the denomination, date, mint mark (on the reverse or below the date), and design type.
- Check a price guide: PCGS CoinFacts and NGC Coin Explorer publish current retail prices by date, grade, and mint mark.
- Get the coin graded if it looks high-grade: NGC and PCGS grading costs $30–$80 per coin and can significantly increase realized price for eye-appealing pieces.
- Sell to a coin dealer or at auction rather than as scrap. Most buyers who purchase for scrap do not identify dates and will pay melt plus a small premium regardless of numismatic value.
For common-date circulated examples worth 5–10% above melt, a local coin dealer may offer the simplest transaction. For rarer pieces, a consignment to a major auction house or direct sale to a specialist dealer is worth the effort.
The gold value calculator gives the current melt value floor. Use it as a sanity check — no offer should fall below it.