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

Buying gold coins is becoming a popular way to invest in gold.

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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.