Petition for US Mint to change their gold coin lineup

In USD...yes. In purchasing power, not nearly as much as you think. We tend to look at "making money" in terms of how many USDs we have. But, lets say our money is worth 1/2 as much tomorrow...so your boss doubles your wage. Do you really make more money?

It's the same idea here. That 1/10oz gold coin you believe was once affordable but no longer is hasn't truly changed in value. Our money has just gotten less valuable...but there is more of it around to compensate. These coins really aren't more expensive today...if you look at what the cost will actually buy.

 

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I understand your point. But a 1/20th oz gold coin that is under $100 could still encourage more people who don't have as much disposable income to buy gold and that's why we proposed this.

 

What would be the benefit of that?

 

People with less disposable income who want gold could buy gold at a more affordable price point. There are a lot more people that would invest in gold, but don't have as much disposable income to invest.

Also, it could be used as a gift too

 

But, the problem with that idea is...small gold coins are terrible investments. The overhead cost is too high, you end up paying a large (percentage) premium over spot. That's why 1/20 coins are not that popular...even in countries that make them.

 

Still it is worth the shot to see if a market exists in the US

 

Well, I think we are going to disagree on that one. That's OK though.

 

This was the entire purpose behind the Liberty Coinage Act of 1985 and the Gold Bullion Act of 1985. It was not at the discretion of the Secretary of the Treasury.

 

Still we are getting attention to our cause. We've been featured on Numismatic News and its just about 24 hours in:

Since it refers to you, it is self promotion and not allowed. Please read the rules!!!!

 

http://mintnewsblog.com/2012/03/us-mint-and-treasury-department-authority-for-coins/

 

Such an investment would be a fools errand based upon the speculation that the price of gold will always rise. Gold does rise in value, right along with inflation and the price of chickens.

 

http://mintnewsblog.com/2014/02/24-karat-gold-2014-kennedy-half-dollars/

http://mintnewsblog.com/2012/03/us-mint-and-treasury-department-authority-for-coins/

 

Go for it.

As mentioned earlier, it will not be the first time that something like this has been attempted.

 

Well we need as much support as we could get. We can't be successful without your and other people's support. Don't forget to sign the petition and spread the word about the petition
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I think most others have stated what would have been my opinions. As much as we love some of the classic designs I don't want to see them reused. That's just being lazy. I'd rather today's artists get a chance to design a coin without all the politics that really hinder designing great coinage.

As for the 1/20th oz coin it may be more affordable but it would be way too small!! I have a 1/10th oz platinum coin and it's about the size of a dime. I wouldn't want a coin that's half that size/weight.

As for the mint sending coins to TPGs. Nope. Most modern coins really don't need to be sent to TPGs unless there is some kind of error coin or variety. Let the individual decided if they want to send it. Plus how do you think the Mint would recoup all the money they spent sending coins to TPGs? Yep higher coin prices!!

 

But still not all of the coins would be sent directly under the plan. Only a few of them. This way you could actually know which coins were first strikes since a lot of people buy slabbed first strike coins.

 

"First Strike" or "Early Release" or any of those other names are a complete scam and anyone with actual knowledge in this field knows that and don't buy into them.

 

But there are people who buy them and dealers who sell them. Also if the US Mint sent the first coins from the first dies we could actually know which coins were the first strikes which would actually make the first strikes/early releases less of a "scam" as you call it.

 

The point is...there is NO difference between these coins and later coins. None. Why would the US government enforce such a scam. There is no good reason...period. I think you will be hard pressed to convince anyone here otherwise.