George T Morgan $100 Gold Union Coin

[cindy-migration]

Has anyone heard of the $100 Gold Union coin, certified by NGC and the Smithsonian. I understand it is a 1 ounce pure gold proof with a seated lady liberty, 13 stars, and the date of 1876 on the front with a majestic eagle on the back. I've been told there were 5,000 struck using a design proposed by George T. Morgan for a centennial coin. I've looked on the internet and can't find a referene to it.

[jtryka]

I don't know about any union coins ever being struck, but there were pattern half union coins dated 1877. These were $50 coins which would have contained 2.41875 oz. of gold (so a $100 union would have been twice that, or nearly 5 oz.). I believe the US Government has two half union coins struck in gold, and they were originally sold to William Woodin (who later became Treasury Secretary), but the seller changed his mind and wanted them back as they were national treasures. As a result, the seller traded Woddin a trunk full of US Pattern coins, so he became the owner of the largest collection of patterns ever owned by an individual. There were however several patterns struck in gilt copper (Judd 1548 and 1549), I believe eight are known, and one was sold by Bowers & Merena at auction in January 2001, though I don't know how much it realized. For a photo of the gilt copper pattern, click here. I hope this helps.

[cereeher-migration]

Not only have I heard of it, I was fortunate enough to puchase two of them. George T. Mrogan proposed the design in 1876 but the coins weren't struck until 2005. It is in fact a one ounce pure gold coin. They are certified by NGC as Ultra Cameo Gem Proof...the top rating of any coin. If you want I can send you pictures of the coin. Just go to the user list and look me up and send me an email and I will forward the pics to you.

[Mike Schulte]

They made a few of the very rare 5 ounce $100 gold Unions. The renderings for these coins where found in the Smithsonian Numismatic collection while closed for renivations. It seems as if George Morgan had designed this coin to be used for large bank tranactions (like the $50's of the day). Congress would not authorize it since they were trying to "push" paper money on us. Well, in the "Old West" if it weren't gold or silver, it weren't money. I can tell you this, this is the most beautiful coin I have ever seen. NGC also slabbed these big 5 ouncers. I am proud to have 4 of these. I think I may be the only one to actually own 4 of them....

[kryptonitecomics]

No clue what you are referring too....but I would sure love to see pictures of the $50 and $100 coins!!!

[jtryka]

I just saw an ad for a silver version of the union pattern for $99, not bad for less than face!

[dspri714-migration]

jtryka, could you tell me where you saw that ad, in a magazine? I'm very interested.

[jtryka]

Sorry it's taken so long to respond, but I've been really swamped this week. The ad I saw shows the $100 proof in silver, weighing 1.5 ounces, encapsulated by NGC. It says also that a portion of the $99 sale price goes to support the National Numismatic Collection at the Smithsonian, so it seems legit. The toll free number in the ad is 1-888-751-1933. Hope this helps!

[hattereno-migration]

The ad you're referring to is simply that - an advertisement. Upon reading the fine print, these medallions are struck by the New York Mint - a Direct Mail company. The U.S. Mint has not endorsed this product. Just because it was sealed in a case by the NGC, doesn't authenticate it's authenticity - it only states that it is in proof condition as advertised.

 

Use caution when buying this product. At the price of silver, you are paying far more than it's worth.

[thekingNJ]

Yes there are George T Morgan Coins that are now in the smithsonian. They are everything you had mentioned. The artwork on them is taken from the sketchpads that were found belonging to George T Morgan. Here is a Picture of them for your reference. The first 10 coins I believe went to auction and number one I believe went for 33,000 US. There were a liminted number left, 1500, going for 2000us per. Anymore questions feel free to buzz....

[EZ_E]

Cindy, if I remember right, there are only 1 or 2 of these intact and were confiscated from a collector in the early 1900's. However, since this man had political clout, the mint exchange many, many patterns in return to help recoup his $20,000 investment.

 

The "coin" you are refering to appears to be a restrike and holds its value only when recognition is brought to it by advertising. Once the hype falls away then, most likely, its value will drop accordingly.

[madpagan1-migration]

Cindy

I own 1 100 gold union and 2 100 silver unions. They are private issue only at this time. They are produced by the New York Mint and you have to receive an invitation to buy them. At this time (5/6/06) there are only 2500 gold unions produced. the company is still deciding if they want to produce more. the price is $1,995.00 per gold union and $99.00 per silver. the gold coin is one oz and the gold is 1.5 oz.If you would still be interested I can call my contact and see if he will sell to you. e-mail me an answer as soon as possible to madpagan1@aol.com.

Brett Pagan

[smullen]

I was just searching google for the ""$100 Union Silver Proof" and it ed me here...

 

I saw it in an add in latest issue of Road and Track Magazine (FEB 07-p. 29)

 

Althought not produced by the US Mint, it looks like a really nice coin....

 

Its states that it is produced by the New York Mint LTD. Not the US. Mint...

 

I'd like to have one, just don't know if its worth a 100.00 to me...

 

If it was a legit coin and I could spend it for face if I ever didn't want it, I think I would for sure...

[bsshog40]

Here's a pic of the silver one!

[Zoins]

I know NGC does these on a bulk deal without numerical grades. I wonder if you submit one for a grade if they will assign one. Will they allow something like this in the registry?

[bsshog40]

No, I was already told these could not be graded. They are not any type of circulation tender.

[smullen]

Yep, thats the one I was talking about!!!!!

Shes beautiful, I think!!!!

 

So you guys think it'd be worth having or just silly junk???

 

Here's a pic of the silver one!

[Zoins]

Yep, thats the one I was talking about!!!!!

Shes beautiful, I think!!!!

 

So you guys think it'd be worth having or just silly junk???

What's your definition of silly junk? Most people buy things they like

 

Are you asking if it will retain its value on the secondary market? What its long term appreciation looks like? Whether other people would buy it?

 

Here are some observations:

 

(a) for the silver and gold, the issue price is a lot higher than melt

(b) from what I've seen on ebay, both the silver and gold have sold for less than issue price

© there are some vague mintage figures for the gold but I haven't seen any for the silver

 

My thoughts are, if you like it, wait till it shows up on eBay and buy for less than issue price. They may not become very collectible for a decade or more. They'll probably need to show up in an updated so-called dollars book, be TPG gradable and be enterable in a registry before you'll see any price appreciation. Most post-1962 so-called dollars don't get much attention because they lack those things.

[bsshog40]

Well this picture is of the one I have. I just bought it because it was unique. I have yet to see one for sale on ebay. I think the mintage for the silver is 10,000. It sells for 99.00. I bought this one thru Monaco Financial, a rare coin co. that bugs me once a month now for $1/2 mil coins. haha One mans junk is another man's treasure!!!!! I like mine!!!

[Zoins]

The entire point of coin collecting is buying what you like and enjoying it so kudos for getting it It is a classic-style design by a famous designer that doesn't exist on anything else and it's defintately not junk, there's 1.5 oz of silver in there!

 

There was a silver one that sold on the bay for about $65 one or two months ago IIRC. There's also one on the bay now with one bid at $59.95.

 

I wish they were made without a mirror finish to be more similar to other coins of the era. I'd be happy with DMPL.

[bsshog40]

That's the first I seen I ebay. I did see the Gold one on there a while back but they were wanting more starting bid than the thing sold for. This is a really nice bullion coin. It may never amount to anything but bullion value, but to me it's a very nice design from the past.

[Zoins]

I did see the Gold one on there a while back but they were wanting more starting bid than the thing sold for.

The gold version also doesn't seem to be holding its value from what I've seen. A while back I saw one on the bay sell for about $1250. Also, right before Christmas, one didn't sell for $1175 (still a high premium over melt). I'm wondering if the prices will come down further.

 

To answer smullen's question more fully on my personal opinions, I have a small issue with these because they don't look like they are from the period:

 

(a) finish is not consistent with the period: ultra cameo mirrors do not appear to be in use during the late 19th century.

 

(b) denomination is not consistent with the period: I think the silver piece would look better with a Two Dollar denomination given the ASW. The gold piece is a challenge because it's smaller than the $50 Pan-Pac slugs (about 2.4oz AGW) so it's strange to see a $100 face.

 

That being said, I might consider them if prices dropped more and were more in line with buying bullion.

[bsshog40]

That's the thing with any tribute that is on the market. Most all are gem proofs. I don't think there are many tribute coins out there that weren't made in a proof manner. regarding the prices, I guess it looks as tho' the ones on ebay will be the cheapest you can get one for. It all depends in how bad a person actually wants one. If you're looking for something that will increase in value over time, I don't think this is the coin. Just want a part of proposed history, maybe this one will do. Lot of other tribute proofs in the market today to choose from.

[Zoins]

That's the thing with any tribute that is on the market. Most all are gem proofs. I don't think there are many tribute coins out there that weren't made in a proof manner.

I think there are enough tributes/restrikes on the market that are not ultra cameo mirrored that "most all are gem proofs" isn't true. For example, the Paris Mint has been making restrikes of Franklin's Libertas Americana medal. You can get mirrored ones from the New York Mint (same group doing the $100 Unions) and non-mirrored ones from Talisman Coins. Also, while moderns are available in ultra cameo mirrors from the US Mint, Daniel Carr has made alternate state quarters without mirrors. I also think you are more apt to get ultra cameo mirrors from the National Collectors Mint than the Gallery Mint. A while back I came across Continental Currency medal replicas and preferred the Gallery Mint version over the mirrored NCM version. Do a search for "continental" under the "coins..." category on the bay and you'll see that many are not mirrored. Of course, this point is moot for the $100 Unions because they are only available mirrored, however, there are enough non-mirrored tributes out there that look more inline with the period they represent.

If you're looking for something that will increase in value over time, I don't think this is the coin. Just want a part of proposed history, maybe this one will do.

I agree. Get it if you like it. Just don't buy into the marketing hype and don't expect the value to appreciate.

[bsshog40]

Yea you're right, there's probably more non-gem proof replicas than I know of. I really don't shop for them. My wife actually found the morgan in an advertisement and showed it to me. I liked it right off the bat. I'm not much into other tributes, but again, if it's something I see and like, you never know.

[Zoins]

Just FYI, there's a gold one on the bay now with bidding at $850 (item # 290082650244). It will be interesting to see where it ends up to monitor the demand for these.

[Zoins]

Sold for $988.55. I feel bad for the people who purchased these at the $1,995.00 retail price.

 

I was recently offered one for $3,597.95. Good thing I didn't jump at that one

[bsshog40]

I don't think there is the big hype on these that they were hoping for. I really couldn't afford the gold but even if I could have, wouldn't invested that much money in a proposed coin anyway. I would probably lose money on the silver issue if that's what I bought it for, but luckily I only bought it to have for my own personal satisfaction of likeing the coin.

[jamesmower-migration]

In 2005 there were 5000 $100.00 gold unions struck by the New York Mint. These were 1oz coins. I did see on ebay a 5oz $100.00 gold union. It looked like the same coin but bigger and only 300 were struck according to the seller. Hope this message isn't too late. (only 3 years right)

[mrearlygold]

How many years were they made? I had a gold one a couple months ago that said 1876-2007 on the holder. But I see that others say 2008.

 

Why is this thread in the Coin Conservation category? Shouldn't it be somewhere else? Is it a secret?