About 30, 40, or even 50 years ago, some Americans chose to put their money into coins. Now, they may have learned that inflation has made it much harder for them to buy things in retirement.
In fact, rising prices may have a bigger effect on retirement than they thought. Because of this, it’s time to find the coins you have. A lot of Americans may not have bought one, but they may have received a bunch of them.
A coin that could help you boost your retirement savings
The average amount of money you get from Social Security when you leave is about $1,919. You might feel bad now that you didn’t put money into your 401(k) or invest in real estate or your business. The 1927-D $20 gold Saint-Gaudens is a very rare gold coin that has become very expensive.
People who own it in 2024 may have paid $59,000 for it more than 54 years ago. A $20 gold Saint-Gaudens from 1927 was sold for $4,440,000 a few years ago.
That means the price might go up even more in 2024 or 2025. Of course, this is the best example of a coin that has grown in value. But you might have other ones at home that could help you get through a tough financial time for a month, a year, or even ten years.
The importance of rare gold coins
It’s true; coin fans and experts say that rare gold coins hold their value better over time. People who are crazy about gold might watch as its value changes.
Because of this, they might be a riskier option. One more good example could be a Morgan silver dollar from 1893. That was in the 1970s. Some investors and fans may have had it for less than $2,000.
In 2024, an 1893-S Morgan silver dollar that is perfect and in good shape could be worth more than $1 million.
Some Americans may not know how important their dollars have become over time because they have so many of them at home.
Aim for rare gold and silver coins. Find some at home and find out how much they are worth. PCGS can score your U.S. money if you send it in by following these steps: https://www.pcgs.com/submissionguide