Should face value of american eagle be change to higher denomination?.

Yeah, I'm done with it too.

 

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i and others maintained our position that the u.s. mint should change its denomination from $50.00 to $100.00 for its gold series. both buffalos and eagles.

 

I've often considered this, and I've come to the following conclusion, I do not think that the value should be changed because Most people own them as coins/bullion and not as money to spend, so face value is irrelevant. Also if you were to have it be reflective of bullion, then the coin would have to be changed virtually every day, one can only imagine how difficult that would be for the mint, and collectors would find it hard getting all varieties, so, no I don't think it's a good idea.

 

a good example of canadian olympics 1976 commemorative $5.00 silver dollars. when price of silver fell to like $3.00 per ounce during that time. the $5.00 face value maintained $5.00. it did not go down to $3.00. and the face value of $10.00 olympics also stood at $10.00. it did not lose 60%.

 

They already changed the gold at one point from $20 an ounce to $50. I think it was to confuse collectors. Silver and gold eagles worth usually depends mostly on bullion value rather than face value. Even in these times of deflation, they'll never meet their face value no matter what it is changed to.

 

bit i rather get more face value than its original stated. like the panda also increased its face value.

 

The face value on the AGE's only makes them a coin for legal purposes, ie anti-counterfeiting. Elsewise the denomination on the coins is useless. Royal Canadian Mint sold some of their 1 oz bullion with a $300 denomination guarantee on it, as a marketing ploy back in the late 1990's when gold was down in the $250 range. Right after that gold started an upward trending again and they never did that again.

There was a Nevada company that tried to circumvent payroll taxes a few years ago by paying their employees in AGE's at the then market rate and declaring the $50 value etc. as the wages they were paying. This was prosecuted through the courts for tax evasion, made its way up to a district court which still found in favour of the IRS.

 

Actually they did because when people tried to spend them or deposit them at the bank the Canadian government at least initially refused to redeem them. Then eventually they permited limited redemption. Due to the restrictions for the most part the coins DID drop to just their bullion value.

 

When silver was about $4 an oz, it was tempting to go spend the things. I have some of the $5's that I have had since I was a kid and did not take very good care of that I seriously thought of spending several years ago.

 

why american eagle platinum one ounce coin face value is $100.00 and eagle gold is $50.00.
the gold and platinum spot price is quite near each other. the platinum should go out from $100.00 face to $50.00. or change the eagle gold from $50.00 to $100.00.

 

And back in March platinum was almost $2,000 and gold was half that. Should they keep changing the denominations up and down each month depending on the relative difference between the spot prices?

 

before then the platinum is way below gold. because the platinum is high during sometimes this year. then it should be $100.00 for platinum. now it is low. so the platinum should be reduce. simple as that.

 

it is time to change the denomination to a higher amount. $50.00 one ounce to $100.00 and so forth.

 

You're saying the face value of silver eagles should be $50.00?

 

Is it correct to assume that the denomination is set to the price the US Government is willing to be "Legally Obligated" to repurchase these coins?

If silver prices fall so far that the US Mint has problems selling ASEs for a buck, then...yes, perhaps they should consider raising the denomination.

For now, the $1 denomination creates an "illusion" that the US dollar is of greater value than other currencies.

 

I don't think thats the case at all.

 

Ok...?

 

Ok. It has nothing to do with creating an illusion that the dollar is worth more. Thtey just slapped the denomintation of one dollar on it, and the denomination does not matter. The coin's value is determined by the price of an ounce of silver. The denomination on the coin is meaningless. Thats what people have been trying to tell Elaine for years. Say the denomintation was ten dollars. If silver ever drops below $10, you would have people spending them, which was never the purpose of these coins. They are bullion. The denomination is just a technicallity which allows us to call them coins.

 

Pretty much sums it up right there. I'm not sure why this post has been bumped back up after 9 months...I don't think any minds have been changed about this topic. :rolling:

 

A $10.00 silver coin would be nice though, for circulation.

Ruben