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Government Acknowledges $1900 Gold

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The $1900 is for the PROOF coin

This is the PROOF coin price from the US Mint.
They are not selling the cheaper uncirculated version directly to the public.
PROOF coins come in a special velvet lined display box.

Well, it's not the box

It's that it's a collectors' coin.

The price is based on a programmed huge markup over spot for the proof coins.

You're absolutely right, it's not like they're expensive because gold is scarce. They're expensive because the treasury make a huge margin on every coin.

This is a false alarm.

What we need is for Congress to pass a law mandating minting unlimited demand for non-proof PM coins at a cost of face value+spot. Meaning just like paper currency, you pay them for fiat and they give you fiat, but this one comes with the barbarous relic built in for which you pay spot price.

Take back the GOP and Restore America Now.

Name your mark. Old school, recycle PMI charts for sale.

Purchasing Managers

  • A. Germany
  • B. France
  • C. United Kingdom
  • D. Italy
  • E. All those not above
  • F. All of the above (including E)

Index (PMI), a globle perspective.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

WTF? These are only 91.67% gold

What does that make the price per ounce?
http://catalog.usmint.gov/webapp/wcs/stores/servlet/Category...

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix

I asked a coin dealer about that.

He said the Eagle still contains one full ounce of gold -- the coin weighs a little more than an ounce (33.933g). If you want .9999 fine gold, get the 1 oz. Gold American Buffalo coin (weighs 31.108g). Or buy foreign coins: Canadian Maples, Chinese Pandas and more are all .9999 fine.

Recommended reading: The Most Dangerous Superstition, http://www.amazon.com/Most-Dangerous-Superstition-Larken-Ros...

Better check 'em for tungsten

The good news is that if you request a cash settlement in place of physical delivery, Uncle Ben will deliver them personally. ... from a helicopter!

Ebay prices are around $175 for 1/10th ounce with 2% rebate...

with free shipping, through their 'ebay bucks' program. You get 2% of your ebay purchases back the next month in ebay store credit, bringing the actual cost to the buyer around $140, and the amount received by the seller $175 minus fees, shipping, and insurance.

Pandas eat bugs.

Is it 2% or 20% ??

I don't see how you come up with $140 at a 2% discount. If it's 20%, I'll have to check it out, I didn't know they had a discount program.

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix

Shoot, you're right. I divided 2% into the ounce price...

which I am used to thinking in. Don't usually look at 1/10th ounce coins, only did so for the sake of comparison to the 10th ounces the government is selling. Also ebays $175 1/10ths are older coins, not 2013s.

So the correct math would be $175 - $3.50 so about $171.50 delivered.

Also to be clear this $3.50 store credit comes from ebay, not the seller.

Sorry for the goof.

Pandas eat bugs.

Cyril's picture

Market price or not market price?

Well... "the price of something is whichever someone is willing to pay for it..."

Now, "someone", will usually try to get the best deal, provided they can have access to it.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

$1760 gold, not $1950

The Mint sells 1 oz. Gold Eagles for $1760 each today (May 28, 2013). The smaller weight gold coins carry a much higher premium over spot, both at the Mint at at coin shops. Nothing new there.

But even that $1760 price is NOT a competitive price. Kitco is selling the same coin right now for $1446.

Recommended reading: The Most Dangerous Superstition, http://www.amazon.com/Most-Dangerous-Superstition-Larken-Ros...

Well, with the mint selling gold at $2000.00 per ounce...

...anyone who buys from them had better hope it goes a lot higher than $1900.00/ounce.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

The U.S. Mint Only Sells To Coin Dealers,

Or very large buyers, therefore the general public who can only afford to buy a small amount of these coins, is going to end up paying $2,000.00 per ounce or more, for Gold once the coin dealer adds in his small profit, necessary to stay in business.

Thanks for posting this.

beesting

All wrong. The Mint sells to anyone.

The Mint DOES sell to the public. I've bought stuff from them myself. Their store is here.

Recommended reading: The Most Dangerous Superstition, http://www.amazon.com/Most-Dangerous-Superstition-Larken-Ros...

Thank you, I stand corrected.

Years ago, when I checked and wanted to order a small amount of GOLD coins, I was told that only coin dealers or selected long term customers are recognized, the link you gave me was from Indiana and I didn't know there was a U.S. Mint in Indiana.

I thought they were in San Francisco.
Denver.
Philadelphia.
West Point New York.

What is the mint mark for the Indiana mint?

beesting