The Gipper. The Great Communicator. The Jelly Bean Man.
President Ronald Reagan had many nicknames. As the 40th president of the United States, he was known for defeating double-digit inflation and reviving the economy.
What you may not know, however, is that Reagan was a great believer in the power of physical gold.
As we celebrate what would have been Reagan’s 107th birthday today, we take a moment to honor a president who launched one of the nation’s most successful coin programs and effectively returned gold ownership back into the hands of the American people.
Reagan trumpeted gold from the start
Reagan was a vocal supporter of the gold standard, a system wherein a currency is defined by a set quantity of gold.
In a rarely viewed video, Reagan explained how a betrayal of the gold standard in the 1960s led to the inflation that was destroying the American economy. He warned that we’d never regain price stability until we restored some form of gold backing to the dollar. He said:
“In the 1960s the federal government decided to stop tying the value of the dollar to gold. This permitted them to print as much money as they wanted to spend and that’s why we’ve had this crippling inflation. We’ll never regain price stability until we restore some form of gold backing to the dollar. As president, my first priority will be to make the dollar the most trusted currency in the world.”
Reagan’s words wouldn’t have sounded too dramatic to his 1980 audience. The U.S. had severed its last ties between the dollar and gold just a few years earlier in 1971, when President Richard Nixon announced that the U.S. would officially no longer back the dollar with gold reserves.
Order the 2016 Ronald Reagan Coin & Chronicle Set and learn more about Reagan’s impressive life. This three-coin set is the last of its kind in a celebrated series from the U.S. Mint and includes a 2016 1 oz. Proof Silver American Eagle, 2016 Reverse Proof Reagan Presidential Dollar, and Ronald and Nancy Reagan Bronze Medal. Claim a piece of history for yourself. Order online to secure yours today!
Reagan’s golden rule, 1981 to 1989
Reagan remains one of the most influential presidents in American history, with accomplishments almost too long to list. Below, we’ll dive into important events that solidified his impact on precious metals and coinage in particular.
1981: Reagan began his presidency in 1981 and established the U.S. Gold Commission to explore the feasibility of returning the nation to the gold standard.
1982: In its final report to Congress, the Commission made “a controversial recommendation for minting a gold bullion coin that would compete with South African Krugerrands and other popular foreign gold coins,” notes a 1982 article from The Washington Post.
The Commission also cautioned against a return to the gold standard, arguing that it would not be a “fruitful method for dealing with the continuing problem of inflation.”
1983: Shortly after the Commission’s report, Reagan designated the third week in April as National Coin Week. His 1983 proclamation aimed to shed greater light on numismatics and honor our nation’s rich history behind coinage and money.
“[Coins] reflect the economic development of their country of origin, as well as the scientific advancement and artistic values of the people who produce and use them. [I] call upon the people of the United States to observe this week with appropriate ceremonies and activities,” declared Reagan in Proclamation 5027.
1984: Setting the stage for the coinage to come, Reagan authorized minting of the 1984 Olympic Gold Commemorative Coin. This was the first U.S. gold coin to be produced in 51 years.
1985: A year later, Reagan changed the course of American gold ownership forever. He signed the Gold Bullion Act of 1985 which called for the U.S. Treasury, via the U.S. Mint, to produce a family of gold coins. It set forth specific guidelines regarding the origin and age of the gold to be used, as well as the amount of coins that must be produced.
1986: The Gold Bullion Act of 1985 paved the way for the American Eagle Gold program, and in 1986 the production of one of the world’s most popular gold bullion coins: the Gold American Eagle Coin.
While the bullion version of the Gold American Eagle must be produced in sufficient quantity to meet public demand (per Reagan’s Gold Bullion Act of 1985), the proof version is produced only when the U.S. Mint is able to, if at all. Gold demand in 2009 skyrocketed so high that there wasn’t enough gold left to product the proof version. There’s no telling when this might happen again.
Michael Reagan keeps his father’s gold legacy alive
Ronald Reagan passed away on June 5, 2004, but his contributions to gold ownership and the American people live on.
Today, Michael Reagan keeps his father’s legacy alive with the help of U.S. Money Reserve and one of the greatest creations in modern gold coinage—the Reagan Legacy Signature Series of Proof Gold American Eagles.
Each PCGS coin label in this exclusive series features Michael Reagan’s signature, always hand-penned and never stamped. These Gold American Eagles are available in limited quantities, only from U.S. Money Reserve, and only in the highest grades of near-perfect PR-69 and museum-quality PR-70.
As we celebrate what would’ve been Ronald Reagan’s 107th birthday, we invite you to honor his legacy by strengthening your own.
Account Executives are standing by to discuss how adding gold to your portfolio could be the right move for you and to answer any questions you may have about these hand-signed Proof Gold American Eagle Coins from the Reagan Legacy Signature Series. Call 1-844-307-1589 to learn more about this elite series, only available from U.S. Money Reserve, America’s Gold Authority®.