Pre-1933 US Gold Coins Rare Because of the Great Depression

For coin collectors and investors as well, any US gold coin that was minted before 1933 is rare and difficult to find.  It is estimated that less than 1% of the Pre-1933 US gold coinage still survives.  The reason for the rarity of pre-1933 coinage is because of the catastrophic Great Depression.  When the Depression was at its height, President Roosevelt made holding gold illegal for any US citizen.  As a result, all gold was recalled to the US Treasury.  Upon reaching the treasury, these recalled gold coins met the unfortunate fate of being melted down and reformed into gold bars.  So if you have or get a pre-1933 gold US coin, you hold a treasure.