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- - Right direction but wrong path (http://goldismoney.info/forums/showthread.php?t=10376)

Obolus | 05-02-2004 10:55 PM
Right direction but wrong path I like the idea, but I wish they'd go the extra step and put a real value on these and not a token $1 Come on, these are going to probably be 1/2 ounce coins, but with a face value of one dollar? Is that so they can later be confiscated at a minimum price down the road? http://www.govexec.com/dailyfed/0404/042904cdam2.htm

Obolus | 05-02-2004 11:03 PM
Re: Right direction but wrong path It's a bit ambiguous, but possibly the First Lady coins will be $25? But that's still a far cry from their actual value. The Presidential appear to be of base metal.

IrishGold | 05-02-2004 11:04 PM
Re: Right direction but wrong path Quote:
Originally Posted by Obolus I like the idea, but I wish they'd go the extra step and put a real value on these and not a token $1 Come on, these are going to probably be 1/2 ounce coins, but with a face value of one dollar? Is that so they can later be confiscated at a minimum price down the road? http://www.govexec.com/dailyfed/0404/042904cdam2.htm
Read the article again Obolus. they are saying the 1 dollar coins are going to "resemble the Sacagawea dollar." that means they will be gold COLORED coins. The first lady coins will be gold bullion, but it does not say if there will be a denomination on it. If the bullion coin is going to sell for $250, you are right that it will probably be a 1/2 oz.

Obolus | 05-02-2004 11:31 PM
Re: Right direction but wrong path Further investigation reveals that the coins would be (of course) non-circulating and .9999 fine. The specifications given resemble that of a quarter-ounce coin rather than half-ounce. ie 'around' 22mm and a $10 face value. So how will they get off charging $250 for them?

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