Reader surveys conducted regularly by Coin World show that State quarter dollars and Morgan dollars are the most actively collected series of U.S. coins.

However, without a doubt, "better-date" (of higher quality and rarer than type coins but less rare than key and semi-key dates) gold coins are the most talked about coins when people approach me at major coin shows and auctions, by telephone and via e-mail.

It's no surprise that the majority of collectors cannot afford to collect gold coins by date, but dealers are obviously doing a lot of business in the gold coin market as compared to other segments. Some of this activity is due to investment promotions by dealers, while other activity is due to some collectors making investments in their collections.

Inquiries about valuations for better-date gold coins far outnumber requests for values for smaller denomination coins.

Of course, when the price of gold bullion makes substantial moves up or down, prices for gold type coins must be adjusted accordingly. However, better-date gold coins – which are not necessarily affected by bullion moves because of their higher numismatic premiums – have been holding their own through these moves in gold bullion. Their rising trend has not let up for many years.

Gold rarities have also been in hot pursuit for equally as long.

Collectors seem to instinctively know that even though they are enjoying this pursuit very much, these investments in their collections will pay off much in the same way long-term investments in stock and real estate or other forms of traditional investments will. So, while many collectors of better-date gold coins may not be able to afford to purchase leisure items with this money, they can still have fun while resting easy that these purchases will pay off and help provide for their retirements, if needed.

Gold rarities are continuing to set price records at auction, such as the 1921 Saint-Gaudens $20 double eagle, graded Mint State 65 by Professional Coin Grading Service, that sold for $1,012,000 in the recent Ira and Larry Goldberg pre-Long Beach auction.

Another good example is the 1854-O Coronet double eagle, graded About Uncirculated 55 by PCGS that sold for $494,500 in the Bowers and Merena pre-American Numismatic Association auction in Milwaukee.

Not all gold coins have been rising in value, however. Some have taken steep falls. Examples of those that have fallen in value are common-date Indian Head gold $3 coins in most grades and high-grade Indian Head $2.50 quarter eagles in the higher Mint State grades.

Resurgence in their rising values may cycle around as buyers realize they can obtain them for much less money than in the recent past.

Of course, no one can predict how high the values of gold and other rare coins can climb during our lifetimes. These days we are seeing many coins selling for more than $1 million each, making this benchmark rather common. Only 10 to 15 years ago, a rare coin that sold for nearly $500,000 was big news.