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Why is $800 one ounce gold coin a "Fifty Dollar" coin?
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<p>[QUOTE="catbox_9, post: 193028, member: 7344"]The mint doesn't want them to be medals so they put a value on them. Technically, they are legal tender so you could spend them for $50. Most merchants won't accept them (that's my guess at least, I've never tried) since they'd have no idea what they were.</p><p><br /></p><p>The reason they're worth $50 and not more is if the mint made them $600 or somthing like that but then gold went way down in value they might start circulating or something like that. Actually, I don't see why that would matter since if they sell a $500 face value coin for $700 and gold goes to $10 an ounce (yeah right) who cares if people use them for $500, the mint would still make a profit. I think that's the logic but it still doesn't make a whole lot of sense. Perhaps someone can further my answer.[/QUOTE]</p><p><br /></p>
[QUOTE="catbox_9, post: 193028, member: 7344"]The mint doesn't want them to be medals so they put a value on them. Technically, they are legal tender so you could spend them for $50. Most merchants won't accept them (that's my guess at least, I've never tried) since they'd have no idea what they were. The reason they're worth $50 and not more is if the mint made them $600 or somthing like that but then gold went way down in value they might start circulating or something like that. Actually, I don't see why that would matter since if they sell a $500 face value coin for $700 and gold goes to $10 an ounce (yeah right) who cares if people use them for $500, the mint would still make a profit. I think that's the logic but it still doesn't make a whole lot of sense. Perhaps someone can further my answer.[/QUOTE]
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Why is $800 one ounce gold coin a "Fifty Dollar" coin?
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