Why do $50 US gold 1oz coins only sell for bullion value?

apmex is selling 1oz $50 gold eagles for spot

>u
Stick to /b/ you monkey

>They sell for bullion weight because they're not legal tender.
yes they are

>No store or bank will take them as currency
bullshit, they are legal tender just like a quarter is, they are $50 coins, anybody will take one

It's not currency, dummy. Anyone can strike a coin. Coin =/= currency. A bullion coin from the Treasury is a novelty item, and is guaranteed to contain the listed weight of gold, so it's a safer investment than some coins that are forged. You can't actually buy anything with an Eagle, because it's not legal tender.

>It's not currency, dummy. Anyone can strike a coin. Coin =/= currency.
You are fucking wrong, they are US legal tender, they are worth $50 USD, it's not complicated

You have zero idea what you are talking about

>Authorized by the Bullion Coin Act of 1985, American Eagle Gold Bullion Coins quickly became one of the world's leading gold bullion investment coins. Produced from gold mined in the United States, American Eagles are imprinted with their gold content and legal tender “face” value

usmint.gov/coins/coin-medal-programs/american-eagle/gold-bullion

They're only 90% gold idiot. Indian heads are .999% gold. DYOR

No, they're not, and you won't be able to find a single cite that says they are. Just shut up, dummy.

They are not circulated as currency. You're wrong. Get over it. The $50 on it is symbolic.

Citation plz

>They're only 90% gold idiot. Indian heads are .999% gold. DYOR
god damn is everyone on Veeky Forums this wrong all the time?

>American Eagles use the durable 22 karat standard established for gold circulating coinage over 350 years ago. They contain their stated amount of pure gold, plus small amounts of alloy.

usmint.gov/coins/coin-medal-programs/american-eagle/gold-bullion

the coins weigh more than 1oz because they have a small amount of other metal to make an aloy in them...., and contain 1oz of pure gold

not complicated

if you melted one down and seprated the contents you would get 1oz of pure gold and like .1 oz of silver or copper or whatever

>No, they're not, and you won't be able to find a single cite that says they are. Just shut up, dummy.
usmint.gov/coins/coin-medal-programs/american-eagle/gold-bullion

I GUESS BESIDES THE US MINT ON THEIR .GOV SITE SAYING THEY ARE FUCKING LEGAL TENDER LOLOLOLOL

Why are you acting like you know what you are talking about??

brainlet detected.

"Investment coin. The cite you used proved you wrong, you stupid fuck. It is not circulated by the Treasury as currency. "Legal tender" just means it's not illegal to trade with, privately. I wa wrong to use that term, the real term here is currency, and these coins are not currency. (And I know you autists are gonna sperg out because I made that mistake - get the fuck over it) If they were, merchants and banks would have to honor the face value. Thats how the system works. These coins are novelties, for investors.

This is the current list of CURRENCY coins issued by the Treasury:

usmint.gov/learn/coin-and-medal-programs/coin-specifications

Note the bullion coins are not on there, and the "real" gold coin in circulation has no actual gold in it.

Gold is pretty stable, would be a good currency desu

we should go back to the gold/silver standard

They're not currency. I already posted that I used "legal tender' incorrectly.

These coins are not circulated as currency. So shut the fuck up, autist.

steam probably shouldve kept accepting btc

>They're not currency. I already posted that I used "legal tender' incorrectly.

They are US currency. If the price of gold went down to $.01 per oz the US Gold eagle would still be worth 50 US Dollars, as stated by the treasury, the US Mint, An act of congress and the fucking part on the back of the fucking coin that fucking says "50 DOLLARS"

YOU ARE WRONG

No, they're 91.67% gold and the buffalos are 99.99%, but both are still one ounce of gold, the eagles just have some silver and copper in addition.

>Legal Tender
>Currency
same fucking thing you autistic fuck

Cite anything to back that up

Anything

They are legal tender. And even if for some fucked up reason gold became worthless you could still trade the coin at the bank for $50. You would have to be a fucking dumbass to trade it for $50 but any bank should accept it if you are that retarded

It isn't worth spot price + $50 because it's value at any point is the greater of the two.

>It isn't worth spot price + $50 because it's value at any point is the greater of the two.
OK I think this is the best answer and the only one I can think of.

However, if choosing between a 1oz gold ingot made by nobody important and a 1oz gold US Legal Tender $50 coin would the coin not have more value?

I am not saying it's likely but someone could find a gold nugget the size of Manhattan in a mine somewhere tomorrow and the price of gold could go down to $10, so having a coin that's 1oz gold and $50USD should have some more value than 1oz of gold not tied to fifty bucks

right?

Show me by link where it's listed as US currency.

Oh, wait, you can't, because I already linked to the list of official US currency.

en.wikipedia.org/wiki/United_States_dollar#Coins

Hey, you tried.

I already fucking said I used that term incorrectly, spastic.

you are literally retarded.

Are you telling me that you think if the value of gold went down to a penny an oz that the US Legal Tender $50 coin would not be worth $50?

why do you think that?

HERE IS A FUCKING ACT OF CONGRESS STATING YOU ARE WRONG:

gpo.gov/fdsys/pkg/STATUTE-99/pdf/STATUTE-99-Pg1177.pdf

Explain to me how a $50 coin that is legal tender is not worth 50 dollars

Could it be that they’re not in mint condition?

Dumb fuck legal tender means that by law you must accept it as payment. If someone pays you in a 1 oz US gold coin, you are forced by law to take it as $50. How the fuck is that not a currency?
en.wikipedia.org/wiki/Currency

why would that matter, a quarter with a scratch on it is still worth twenty five cents

a dinged up $50 US Gold Eagle still has 1oz of gold in it and is still worth 50bucks...

Right but it would lower the premium you pay over spot price

what i am asking though is why a US $50 gold coin is not always worth at least $50 over spot?

How does it make sense to ship it to you for $19 over spot insured postage?

Do you have any actually sources other than spasticlly yelling about how you can't find something on a wikipedia article?

I want to buy a 1oz eagle and bite it to see if i can put teeth marks in it like the movies haha

just for fun

Because that doesn’t make any sense.

No one would ever sell it below $50 regardless of the spot price. But it has nothing to do with the premium over spot.

the jews got rid of it so they could enslave america

you'd be better off trying on a gold buffalo. the eagles will just break your teeth.

that's probably true

Wrong. The government did because they didn't have to buy gold whenever they wanted to print money.

Just because you could sell it for $1300 spot gold price or use it in a store as currency (assuming that's even possible) for $50 doesn't mean the coin is worth $1350.

You can't sell it for gold AND use as currency, you have to choose one or the other.

The value of anything is what its worth in the transaction with the highest value. It's like saying I have a car worth $1000 and 5 people want to buy it why isn't it worth $5000??

Really?

And why do they print money?

There's an additional speculative value associated with that 1oz having a price floor compared to other ounces of gold which don't - true. That value isn't just the value of the floor - $50 - it also takes into account the likelihood that gold will drop below $50/oz. The floor doesn't do anything until then. Just think of the value of the floor as being worth $50 * the probability that gold goes below $50 next month - that's not the right equation but it's the idea.

Gold is sitting at $1340 right now, it was at $1273 a month ago, what do you think is the likelihood it drops below $50 next month? I'd have to say we're well below 1%.

>Gold is sitting at $1340 right now, it was at $1273 a month ago, what do you think is the likelihood it drops below $50 next month? I'd have to say we're well below 1%.
clearly, I am not saying it's likely just that a gold coin with worth $50 USD should have some more value than a 1oz gold bar with no USD value associated

Why are you even bothering talking to it?

You idiots who probably never went to high school and just repeat everything you read on r/conspiracy need to realise that by blaming the Jews for everything wrong with the country let's the retards in government basically do whatever they want with no consequences and every time there is a scandal they just blame the latest public enemy, i.e. the soviets, al Qaeda, etc.

the jews literally invented banking and fiat currency