The term semi-numismatic gold usually refers to circulated United States gold coins struck prior to 1934 that carry a relatively small premium over the spot price.
American semi-numismatic and numismatic coins are no longer in production; therefore have higher “premiums” when compared to bullion coins and bars. Semi-numismatic coins in higher uncirculated grades are called numismatic, “slabbed” or graded coins. Typical grades are XF, AU and uncirculated MS-60s, MS-61s and MS-62s.
If a client does decide to buy American semi-numismatic coins, it is better to purchase those with fine or almost uncirculated lower grades of uncirculated coins (MS60-MS62) or the circulated grades of XF or AU, not numismatic grades. Clients should expect to pay a “premium” 6% to 15% over the coin’s gold content value. The following table includes some NNA recommended American semi-numismatic coins.