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In the Midst of Recession, U.S. Mint Releases $1,000 Coin

January 22, 2009 RSS Feed Print

Admittedly, I don't know much about coins. But it seems odd that the U.S. Mint today released a 24-karat, one-ounce gold coin that's currently selling for more than $1,000 in its online catalogue.

This Sacramento Bee story claims that's affordable. It is gold, after all, and in collectors' eyes, it may be a steal. One commenter writes: "That's a pretty low price since most are expecting the spot price of gold +40%."

Here are the details: The 2009 Ultra High Relief Double Eagle Gold Coin is a digitally reproduced version of an original piece minted in 1907. It features lady Liberty on one side, and a flying eagle on the other. According to the U.S. Mint, "it's considered by many to be the most beautiful coin ever produced in the United States."

It turns out that buying coins is becoming a popular way to invest in gold these days. According to this story, the demand for gold coins has been so high that in 2008, the Mint announced that all 2008 bullion coins--with the exception of two varieties--had been depleted.

Tags:: investing

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What is also real besides gold is land/property. Only problem is that you have to pay taxes on land, while gold coins can sit in a safe and not be taxed! We are already buying land for a ranch with our paper money. The gold coins we will hold on to.
The government is printing trillions of dollars to bailout banks, etc. Unfortunately Germany, Argentina and other countries did the same in the past and ended up with hyper-inflation due to worthless money. Gold will always be worth so many barrels of oil, etc.
You can mine more gold, but your cannot easily manufacturer a trillion dollars worth in a couple of months. Gold will keep it's value.

Alex Hamilton of WA 9:14PM January 22, 2009

What is the ultimate money?
1. It must be portable.
2. It must be indistructable (can not just disappear).
2. It must withstand the test of time.
3. It can't just be created from nothing or counterfitted).
4. It must hold or increase it's value long term.
5. It must be in demand at any place at any time.
6. It must be divisible into any size and units.
What fits the bill? Stocks? Paper money? CD's? Bonds? Credit cards? These can be created from nothing and erased into nothing.
GOLD.
Most of the gold in the world is still sitting in govt and central bank vaults.
What's left for private investors would be like throwing a handful of crumbs to a crowd of hungry investors. The hungry investors want something real and something tangible. Not some digits that can be created in the trillions and then easily erased in the trillions. The mob of investors are starting to get hungry and will soon realize there's only so little real money left.

of CA 7:38PM January 22, 2009

I bought one too! I cannot wait to receive it!

KL of MT 5:44PM January 22, 2009

In the Midst of Recession, U.S. Mint Releases $1,000 Coin

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