Widder, SASS #59054 Posted November 6, 2017 Share Posted November 6, 2017 I have often heard that back around 1873 (or pre 1900), a feller could buy a new Colt SAA with a $20 Gold piece. And then another 'fact' is added by saying... "A $20 GOLD piece could still buy a new Colt SAA today". Are these statements a fact or just good conversational topics? Thanks ..........Widder Link to comment Share on other sites More sharing options...
Tascosa, SASS# 24838 Posted November 6, 2017 Share Posted November 6, 2017 I know my grandpa bought his Colt SA in 1916 for $18.00. Link to comment Share on other sites More sharing options...
July Smith Posted November 6, 2017 Share Posted November 6, 2017 A $20 gold piece contained roughly an ounce of our gold correct? In the last few years we have seen the price of gold fluctuate as high as $1800. Today the price of gold is just under $1300 per ounce. I sure don’t see a lot of Colts in that price range, some but not a lot, never have seen a new one for under 2 grand. Link to comment Share on other sites More sharing options...
twelve mile REB Posted November 6, 2017 Share Posted November 6, 2017 Yes I think it is a least plausible. Just like, using gold as a standard, " a loaf of bread costs the same today as it did in Christ's time " . Link to comment Share on other sites More sharing options...
Rye Miles #13621 Posted November 6, 2017 Share Posted November 6, 2017 From the Sears catalog 1897....Colt Single Action Army, Frontier and Target models in .32, .38. .44. and .45 $12.95 Link to comment Share on other sites More sharing options...
Rooster Ron Wayne Posted November 6, 2017 Share Posted November 6, 2017 I would really like to have the Gold instead . Just sayin Rooster Link to comment Share on other sites More sharing options...
El Hombre Sin Nombre Posted November 6, 2017 Share Posted November 6, 2017 5 minutes ago, Rooster Ron Wayne said: I would really like to have the Gold instead . Just sayin Rooster When's the last time you were able shoot bullets out of gold? Link to comment Share on other sites More sharing options...
Sedalia Dave Posted November 6, 2017 Share Posted November 6, 2017 Based solely on melt value it is not to likely as today's value is about $1200 an ounce and there was not quite an ounce of gold in the coin. However if you had the right 1873 $20 gold piece, you could exchange it for enough money to buy a colt revolver. If you were lucky enough to have the right one you could buy a lot of them. $20 gold pieces from 1870 to 1873 are similarly priced. Quote 1873 Liberty Head Double Eagle Coin Info Melt Value: $1,240.08 Country: United States Type: Gold Coin Metal Content: 0.96750 t oz Face Value: $20 USD Mintage: 2,772,860 Issuing Mint: U.S. Mint Year Issued: 1873 Quote 1873 Liberty Head double eagle $20 gold coins are rather common by date, as more than 2.7 million were made across the Philadelphia, Carson City, and San Francisco mints. What makes 1873 a particularly interesting year for Liberty Head $20 gold coin enthusiasts, however, is the varieties that were created when the style of the “3” in the date was changed on both the Philadelphia and San Francisco issues. The “closed 3” variety shows the last digit of the date with loopier-looking ends on the “3” than seen on the “open 3” variety. While this means there are more varieties to look for (and spend money on) when collecting Liberty Head double eagles, neither the 1873 “closed 3” or “open 3” varieties are notably scarce, especially in the circulated grades. Here is a breakdown of the mintages and values of 1873 double eagle gold coins: 1873 closed 3, 1,709,825; $2,050 1873 open 3, mintage included above; $1,980 1873-CC, 22,410; $9,000 1873-S closed 3, 1,040,600; $1,950 1873-S open 3, mintage included above; $1,980 1873 closed 3 proof, 25; $210,000 *Values are for coins in a grade of Extremely Fine 40 unless otherwise specified. 1873 $20 double eagle gold coins weigh 33.44 grams and contain 0.9613 ounces of gold. They’re also 34 millimeters wide, which places their diameter about halfway between the widths of a modern-day half dollar and silver dollar. The double eagle’s overall large size and hefty weight help make them popular among coin collectors and investors alike. Link to comment Share on other sites More sharing options...
Sedalia Dave Posted November 6, 2017 Share Posted November 6, 2017 2 minutes ago, Redwood Kid said: When's the last time you were able shoot bullets out of gold? Yep when the SHTF; lead and the means to dispense it effectively will be worth more than all the gold. Link to comment Share on other sites More sharing options...
Hawkeye Kid Posted November 6, 2017 Share Posted November 6, 2017 Gold was $20.67/oz from 1841 to 1932. Up to the last few years, an oz of gold would buy a Colt SAA with change back. Link to comment Share on other sites More sharing options...
Sgt. Saywut Posted November 6, 2017 Share Posted November 6, 2017 3 minutes ago, Sedalia Dave said: Yep when the SHTF; lead and the means to dispense it effectively will be worth more than all the gold. In such an instance, I can think of far more suitable firearms than a Colt SAA. Link to comment Share on other sites More sharing options...
El Hombre Sin Nombre Posted November 6, 2017 Share Posted November 6, 2017 1 hour ago, Sgt. Saywut said: In such an instance, I can think of far more suitable firearms than a Colt SAA. But how many of those can you think of that have as much class? Link to comment Share on other sites More sharing options...
Dantankerous Posted November 6, 2017 Share Posted November 6, 2017 Colt SAA's and $20 gold double eagles are BOTH sexy. I would not shy away from either. Link to comment Share on other sites More sharing options...
CurlyDrew42 Posted November 6, 2017 Share Posted November 6, 2017 Gold is about $1300 an ounce right now, so could be Link to comment Share on other sites More sharing options...
Sgt. Saywut Posted November 6, 2017 Share Posted November 6, 2017 11 minutes ago, Redwood Kid said: But how many of those can you think of that have as much class? Class is for the range, not for dire situations Link to comment Share on other sites More sharing options...
El Hombre Sin Nombre Posted November 7, 2017 Share Posted November 7, 2017 4 minutes ago, CurlyDrew42 said: Gold is about $1300 an ounce right now, so could be And new Colts are about $2000-$2500 if you can find one 2 minutes ago, Sgt. Saywut said: Class is for the range, not for dire situations Perhaps, but in a dire situation I'd rather have a Colt than a gold coin Link to comment Share on other sites More sharing options...
John Henry Quick Posted November 7, 2017 Share Posted November 7, 2017 The old saw as I remember it was that a $20 gold piece would buy you a Colt revolver, a suit and the tailor would throw in a tie for free and in today's economy that same coin bought the same thing, but no free tie. No clue if it's true, but it's been around for far longer than I have. Link to comment Share on other sites More sharing options...
Chili Ron Posted November 7, 2017 Share Posted November 7, 2017 Howdy, Them old Colts have collector value depending on condition. SAME with them old gold coins. I bet one could buy NEW colts for NEW gold coins, depending on details. And yes Widder, yall did git some conversation, best CR Link to comment Share on other sites More sharing options...
Warden Callaway Posted November 7, 2017 Share Posted November 7, 2017 7 hours ago, July Smith said: A $20 gold piece contained roughly an ounce of our gold correct? In the last few years we have seen the price of gold fluctuate as high as $1800. Today the price of gold is just under $1300 per ounce. I sure don’t see a lot of Colts in that price range, some but not a lot, never have seen a new one for under 2 grand. Found a pair of brand new from Colt in 38 Special at local gunshop. $1,999.99. So under $2,000. Link to comment Share on other sites More sharing options...
Driftwood Johnson, SASS #38283 Posted November 7, 2017 Share Posted November 7, 2017 Howdy According to Kopec's A Study of the Colt Single Action Army Revolver, the first order placed by the Army in 1873 called for 8,000 new Colt's Revolvers to be delivered for $13 each. This included one screwdriver with each revolver (the screwdrivers cost $.10 if ordered separately). The guns were to be packed 50 to a box, an additional $5 was charged for each box. This contract was finalized on July 23, 1873. Commercial sales in 1875 and 1876 to a pool of five different companies totaled about 12,000 revolvers at $10.50 each. That was the price paid by the companies, I have no information about what the retail prices were. Link to comment Share on other sites More sharing options...
Rye Miles #13621 Posted November 7, 2017 Share Posted November 7, 2017 8 hours ago, Driftwood Johnson, SASS #38283 said: Howdy According to Kopec's A Study of the Colt Single Action Army Revolver, the first order placed by the Army in 1873 called for 8,000 new Colt's Revolvers to be delivered for $13 each. This included one screwdriver with each revolver (the screwdrivers cost $.10 if ordered separately). The guns were to be packed 50 to a box, an additional $5 was charged for each box. This contract was finalized on July 23, 1873. Commercial sales in 1875 and 1876 to a pool of five different companies totaled about 12,000 revolvers at $10.50 each. That was the price paid by the companies, I have no information about what the retail prices were. 15 hours ago, Rye Miles #13621 said: From the Sears catalog 1897....Colt Single Action Army, Frontier and Target models in .32, .38. .44. and .45 $12.95 Here are the prices from 1897 Link to comment Share on other sites More sharing options...
Driftwood Johnson, SASS #38283 Posted November 7, 2017 Share Posted November 7, 2017 Howdy Again The original question asked what a Colt cost in 1873. Bear in mind that by 1897 the Colt SAA was no longer 'state of the art' technology. The 1897 Sears price would reflect that. Link to comment Share on other sites More sharing options...
Nate Kiowa Jones #6765 Posted November 9, 2017 Share Posted November 9, 2017 On 11/6/2017 at 3:51 PM, Sedalia Dave said: Yep when the SHTF; lead and the means to dispense it effectively will be worth more than all the gold. The golden rule of all history is those with the weapons make the rules. Link to comment Share on other sites More sharing options...
Griff Posted November 9, 2017 Share Posted November 9, 2017 On 11/6/2017 at 9:12 PM, Warden Callaway said: Found a pair of brand new from Colt in 38 Special at local gunshop. $1,999.99. So under $2,000. And yet, according to Davidson's, the MSRP for a 4-¾" 45Colt SAA is $1799. Out of production models will generally demand a higher price. Since a new $20 gold piece would only set you back $20, that kinda blows that adage outta the water. Link to comment Share on other sites More sharing options...
Appalachian Alan Posted November 10, 2017 Share Posted November 10, 2017 On 11/6/2017 at 3:07 PM, July Smith said: A $20 gold piece contained roughly an ounce of our gold correct? In the last few years we have seen the price of gold fluctuate as high as $1800. Today the price of gold is just under $1300 per ounce. I sure don’t see a lot of Colts in that price range, some but not a lot, never have seen a new one for under 2 grand. Apples and Oranges If originally an ounce of gold would buy a gun that was being made in bulk every day...... compared to an ounce of gold today buying a gun that is NOT in mass production. about 6 years ago.... if an ounce of gold was somewhere between $1300 and $1800. And a New Colt was $1500 all day long. So I say that it is true. You can't compare it to a non production gun. ( and when I can't just walk into by local store and buy one today, then it is not truly in production. It is custom ) Link to comment Share on other sites More sharing options...
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