Why do $50 US gold 1oz coins only sell for bullion value?
Gold is $1325 and you can buy a 1oz $50 face value for about that price. Should the gold coin not be viewed as worth at least $1375?
Why do $50 US gold 1oz coins only sell for bullion value?
Luis Ramirez
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Caleb Taylor
It should be worth at least the spot price of gold
Cameron Sullivan
It is always worth the spot price of gold.
Why is it not worth the spot price of gold +$50?
Why is a gold coin made by the US Mint with a denomination of $50 USD not worth a penny more than some random 1oz gold ingot made by some bullshit company?
Brody Powell
They do sell for over spot you sperg
Oliver Morales
Shipped insured for $19 over spot:
Eli Bennett
stick to bitcoin u monkey
Connor Sanders
nope see:
shipping and $1330 insurance on that has to be $19
Liam Perry
kitco & apmex all other are scams
Justin Peterson
no u
Juan Jackson
They sell for bullion weight because they're not legal tender. No store or bank will take them as currency. Nobody wants currency that changes it's values every minute. Merchants would have to weight the coin and get a spot price to accept it.
US coins don't actually have their value in a precious metal, like silver, the Injun dollar out now is brass coated zinc.
BTW, it's the same reason why merchants don't want Bitcoin, and it's the exact reason why Steam stopped taking it - too much work to assess value at the time of purchase.
John Brown
apmex is selling 1oz $50 gold eagles for spot
Noah Bennett
>u
Stick to /b/ you monkey
Matthew Sullivan
>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
Noah Scott
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.
Chase Rodriguez
>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
Jacob Watson
They're only 90% gold idiot. Indian heads are .999% gold. DYOR
Hunter Brooks
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.
Hunter Price
Citation plz
Andrew Gutierrez
>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
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
Caleb Harris
>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
I GUESS BESIDES THE US MINT ON THEIR .GOV SITE SAYING THEY ARE FUCKING LEGAL TENDER LOLOLOLOL
William Thomas
Why are you acting like you know what you are talking about??
Ryan Fisher
brainlet detected.
Ethan Mitchell
"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
Note the bullion coins are not on there, and the "real" gold coin in circulation has no actual gold in it.
Adam Williams
Gold is pretty stable, would be a good currency desu
we should go back to the gold/silver standard
Cooper Stewart
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.
Alexander Richardson
steam probably shouldve kept accepting btc
Adrian Adams
>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
Blake Ramirez
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.
Jace Williams
>Legal Tender
>Currency
same fucking thing you autistic fuck
Carter Edwards
Cite anything to back that up
Anything
Thomas Jackson
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
Grayson Evans
It isn't worth spot price + $50 because it's value at any point is the greater of the two.
Luke Clark
>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?
Hunter Edwards
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
Hey, you tried.
Brandon Cook
I already fucking said I used that term incorrectly, spastic.
Benjamin Gomez
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:
Chase Williams
Explain to me how a $50 coin that is legal tender is not worth 50 dollars
Connor Sullivan
Could it be that they’re not in mint condition?
Luke Campbell
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
Brayden Diaz
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...
John Brown
Right but it would lower the premium you pay over spot price
Brody Young
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?
Brody Jones
Do you have any actually sources other than spasticlly yelling about how you can't find something on a wikipedia article?
Adam Evans
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
Brandon Roberts
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.
Landon Allen
the jews got rid of it so they could enslave america
Jeremiah James
you'd be better off trying on a gold buffalo. the eagles will just break your teeth.
Grayson Ramirez
that's probably true
Gabriel Stewart
Wrong. The government did because they didn't have to buy gold whenever they wanted to print money.
Kevin Hughes
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?
Justin Richardson
And why do they print money?
Jaxon Nelson
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%.
Kevin Baker
>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
Andrew Allen
Why are you even bothering talking to it?
Charles Wilson
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.
Lincoln Jones
the jews literally invented banking and fiat currency