Petition for US Mint to change their gold coin lineup

Hello everyone,

I'm new here and I have a petition which demands that the US Mint improve their gold coin lineup given the Treasury Secretary's "broad authority" to mint and issue gold coins. This petition calls on the US Mint to reissue classic coin designs.

This petition also calls on the US Mint to issue a 1/20th ounce American Gold Eagle which would make the American Gold Eagle program more affordable and accessible to all. If Canada has a 1/20th ounce Gold Maple Leaf, then why can't the US Mint have a 1/20th ounce American Gold Eagle. It would make bullion investing more accessible.
Edited:

This petition also calls on the US Mint to submit some of the proposed numismatic gold coins produced to NGC and or PCGS directly and to sell some of these coins based on the grades assigned.

Thank you for your support!

 

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Um, you could have bought 9 silver eagles, or one tenth ounce gold. How again would youe return today have been better with the gold?

 

Hi -- you were new here yesterday, too. What's up with the duplicate thread?

 

I see your point. However, there are many more people who prefer gold compared to silver given the higher prestige of gold.

 

I just wanted to make sure that everyone got this petition. Some people who read the coin chat forums may not read the bullion forum and vice versa. Sorry if I violated any forum rules here.

 

WOW.................Did you read what you typed? If you deposit money in a savings account and the bank offers 2 accounts, one that offers 44% and one that offers 100% which are you going to use?

 

I didn't see your position when I originally made that post. But I acknowledge your point.

 

This again?

 

Sorry, but I don't agree with you, and I hope you won't post this again on the NGC forums.

Chris

 

Sorry for the duplicate postings on this board. No harm was intended.

 

I'd be all for creating new and meaningful designs - allegories of Liberty that will be instant classics. Why rehash old designs, do we suffer such a lack of creativity now?

 

A 1/20th ounce gold coin? The fractionals are all more novelties and not really geared towards real investors. The markups are just too high except as a novelty.

 

Because the classic coins are loved designs and there are people who would love to have a MS 69 or MS 70 St. Gaudens for example, but can't afford it. Also many people collect coins with the expectation of some profit in the future and if we went back and made classical designs with more proportional gold amounts, then they would be popular.

Well other countries make 1/20th ounce gold coins and they get good sales. Why can't we do it, we could get better sales too. Its all about marketing the products. I'm sure a lot more people would buy gold if there was a 1/20th ounce coin; IMO there's a reason why 1/10th ounce gold coins are advertised in the mainstream newspapers and on TV even.

 

US Mint marketing studies also show how popular the classic coin designs are with their customers.

 

Gotta agree with the above sentiments. After work I will read your petition, I'm off to work right now and I don't have the time. Unless you know a few members of Congress you are facing an extremely difficult task. Just maybe if you squawk loud enough they may relent and start minting a 1/20th but the idea may not even be financially rewarding enough. Americans, like myself don't really want smaller than 1/10th but that's just me. good luck!!

 

How about a compromise between modern and classic......a standing liberty type 1 with a belly and nipple ring, In God We Trust tribal tattoo and Chaco sandals.

 

The thing is that Congress doesn't need to authorize gold coins which is part of why we decided to start a petition involving gold coins because of the broad authority given to mint and issue gold coins.

 

I might agree to sign a petition recommending they look into new designs, and perhaps a 1/20th oz coin, but I'm fairly certain they already consider these options periodically.

What concerns me most about your petition is the requirement to submit coins to TPG's for grading. That's just plain silly and not at all how our government works.

If that bit did manage to make it through, do you know what would actually happen? The government would release a contract for bid for companies who want to participate. The contract would probably end up being awarded to one company and it would be the lowest qualified bidder. Do you really want the US Mint to be forced to pay some cut rate grading company to grade "some of these coins"? I don't. I don't even want them to be forced to pay a top tier grading service to grade any portion of the coins coming from the US Mint.

If you want a coin graded, of if you want to buy a graded coin, there are already many options available. There is absolutely no need whatsoever to force the US Mint to participate.

Perhaps you could explain your reasons for wanting this to happen.

 

Furthermore, I went and read the petition and this little bit jumped out at me:

"It is recommended that in order to not strain the budgets of US Mint customers that the US Mint discontinue the numismatic versions of American Gold Eagles and American Gold Buffaloes produced. The bullion versions of the American Gold Eagles and American Gold Buffaloes would continue to be produced."

Say what? "not strain the budgets of US Mint customers..."?!?

If buying the "numismatic versions" of the Gold American Eagles or the Gold American Buffaloes strains one's budget, then don't buy them. Problem solved. There are plenty of people who do want to buy them, so why would you want to force the discontinuation of these products?

I further disagree that reintroducing previous versions or "reproductions" of old gold coins is a way to make the US Mint's product line "more interesting".

 

One of the primary reasons that folks like the old classic coinage is due to the alloy they are made of, namely: Unobtainium