Only $50

How much faith does our government have in gold if they would only guarantee 1ounce of .9999 with a face value of only $50? Should we revolt? I say $500 at minimum.

 

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If they guaranteed a face value of $500, the US Mint would probably be asking $15,000 for each coin. I think we should be thankful that they aren't increasing the face value.

 

I'll take one for $50 anyday,nope no change time after time someone finds Gold like this at the store or bank by a miracle.

 

Yea, but the point is that they are basically guaranteeing the current value of $2,800 worth of gold at a measly 1.78571425%.

 

Isn't the current value of gold at just over $1783? That would be a measly 2.80426248%, wouldn't it?

 

Always trust the nine ball, he still sharp as all get out...

 

Technically, $50 is about right. The US Government’s book value of gold on deposit is $42.22/oz, so a premium of 15.5% is in line with the market.
Now, if we could only BUY them for $50 each…

 

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There the one that put the price tag on it. Therefore gold must be 2800 an ounce in buffalo dollars. Cheap

 

Obviously government statistics, nothing new. When was that published 1974?

 

Tradition! The highest value legal tender Gold Coin minted by the USA is the Fifty Dollar gold piece.

 

The official price of gold was fixed at $19.75/ozt in 1792, raised to $20.67 in 1834, $35 in 1934, $38 in 1972, and finally $42.22 in 1973. For accounting between the Fed and the Treasury, it remains at $42.22 today.

 

Question, when is politics not involved in our lives, duh!

 

CoinTalk can be a nice escape from it, though.

 

I like the limited political gripe sessions here. We all need places
Free of it. I wish they would take the glorification of the military and religion out of sporting events too.

 

That my friend is how the government works and operates. Just think of how far they can stretch that gold.

 

I thought @bruthajoe was talking about the copy in the commercial!