Petition for US Mint to change their gold coin lineup

You have to remember, it is Canada.

 

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And China, and Australia too

 

So if Canada jumped off the Brooklyn Bridge should the US mint do it too?

 

Now would that ever happen?

 

You don't know Canadians......

SteveX will get me for that one.

 

I will never understand the 1/10 oz much less a 1/20 oz. You are paying so much money just for the process of minting with very little percentage of the cost in gold. IMO, all it's doing is giving in to the "want it now" crowd that can't save to buy a 1/4oz or bigger.

While I think all the art on modern coins is awful, I certainly don't want the classic stuff tainted with modern duplicates.

 

Btw, yeah welcome.

Concerning the 1/20th ounce, its a horribly ineffective way to collect gold. The premium is just way too high versus gold value. If you cannot afford the tenth ounce, that is what silver is for. Please know this comes from someone who for years could not afford any gold either, its not an elitest comment, just a practical one.

 

But gold fluctuates in price a lot faster than silver. Silver is too common and too slow to fluctuate in price. Besides, a 1/20th ounce coin would be less than $100, which is what people used to be paying for the 1/10th ounce coin before the big gains that gold has made since the economy went bust.

 

Some people might confuse the 1/20 oz with pills, and that would bring law suits. TC

 

Welcome to CT! There has been some talk of this in the past. I hope it does not come to this though. The costs would skyrocket.

 

There would be the option of raw and certified. Not everything made would be certified. You would have a choice in this proposal.

Let's say 20,000 coins get made. About 5,000 or so get sent to be certified. Something along those lines. If more people like raw, then more raw coins. If more people like certified, then more certified.

 

Who in their right mind (except Canadians, maybe) would be willing to pay $xxx for a collar button?

Chris

 

The price of gold now is that you could get a 1/20th ounce gold coin at the same price that you used to be able to buy a 1/10th ounce gold coin.

 

???

 

As a percentage, its actually the opposite. Silver is much more volatile than gold.

 

Basically you used to be able to get the 1/10th oz for under $100 almost 10 years ago. The same price you used to pay for the 1/10th oz coin (under $100) almost 10 years ago, you would pay for the 1/20th oz coin today (under $100).

 

This is concerning actual $ not percentages

 

But that is meaningless. If I own $10,000 of either, the silver will be much more volatile price wise than the gold, both up and down. This is the only logical way of looking at this. If I say that a $1300 ounce of gold moving down by $5 is more volatile than a $20 ounce of silver moving down $1 that is just silly.

 

Either way, many more people prefer to hold gold compared to silver. Also, I don't think you got the point I was trying to make.

 

The point that I am trying to make is that if I bought a 1/10th oz gold eagle quite a few years ago for $90, that same coin is worth $130 or so now. On the other hand, if I bought a Silver Eagle for $10 quite a few years ago (the same time I bought the 1/10th oz gold eagle), it is only worth $20 or so now.

Therefore, my returns are better with a small gold coin than with silver