House approves gold coins

[Orygun]

WASHINGTON (AP) ? The House on Wednesday approved a new gold-colored coin bearing the faces of presidents to join the unpopular $1 Sacagawea coin in circulation, hoping a new design will spur use of dollar coins. By a 422-to-6 vote, the House approved a plan for the U.S. Mint to begin selling the coins early next year.The bill also creates what would be the nation's first investment-grade 24-karat gold bullion coin. Intended for collectors, it would carry portraits of first ladies and a have a face value of $10

 

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[jeff of pa]

? ?No Good looking coins being produced anymore.


Like a Coin with Hillary Clinton, or Nancy Reagan on it will EVER be worth anything?

? ? ? " Just Say No "

 

[stoney56]

That's Congress for you. You think they would approve it if it came out of their pocket. Sheeeesh no! All they want is the special Congressional Proof coin that they can put in their portfolio- hoping for another 1933 $20 gold Eagle. How many Susan B.'s and Saca.'s is sitting in the Treasurey vault that is on the books as Gov. deficit? At least they got the new Buffalo nickle 1/2 right. The back looks cool but the front SUX. It looks like an off-center strike.

 

[jeff of pa]

Yea, I found this one in the Dryer the other day at the Laundry Mat.

2005-D

 

[another _novice]

The current gold cion was made because the Susan B couldn't be used in vending machines. If it's unpopular, in my opinion, it's because people don't want five coins in their pocket when they can just have $5 in bills.

It's nice to see a new coin, but I doubt it will be any more popular.

 

[Klaatu]

Hmmmm. The Sacagawea $1 has the exact same dimensions as the Susan B. Anthony $1. It has a smooth edge rather than a reeded edge and a "golden" color. Other than that they are identical. Both are accepted by vending machines that are set up for them. You can use a Sacagawea or a Susan B. at any Post Office.

Orygun,

Will these new gold-colored coins replace the Sacagawea $1? Will the only change be the designs, i.e., will they remain the same size and materials? I have not been able to find anything out about this.

I checked out the new "24-karat" gold coins (never heard of US gold coins described in karats before) at the US Mint's web site and found that these coins will be intended for investors. These coins will be 0.9999 fine as opposed to typical gold coins minted for circulation that are 0.900 fine. (In other words, the 24-karat gold coins will be 99.99% pure gold and "ordinary" gold coins are 90% pure gold.) I doubt we will finding any of these coins with our metal detectors.

 

[stoney56]

Like I've said before, why else would a lawyer quit a lucritive practice to go to Washington DC if not to make even more money. Guarentee they're not there for the betterment of country just bank accounts. my 3-cent nickle.

 

[midus1]

If they want the public to accept a dollar coin, make them the size of a Morgan/Peace Dollar and make them 90% Silver!!!!!!!!!!

HH

 

[Klaatu]

A 90% silver coin the size of a Morgan / Peace dollar would contain $6 worth of silver. The Mint is not in the business of losing money on the coins they produce. I don't think any would remain in circulation when people can make $5 profit on every one they sell for bullion.

 

[midus1]

Klaatu,

Thanks for sharing such an Einstein moment. Of course they can't make a 90% silver coin that large for a dollar. It was simply a wish for the look and feel of such a magnificent coin!

HH

 

[chirper97]

Clad coinage is trash. "Federal reserve notes" are valuable only as long as we pretend they are. The change from silver certificates to Reserve notes signaled a drastic change in our national consciousness. I don't remember a national debate. Or a national referendum. Or a grass roots movement to change from valuable coinage to fiat.

I remember when we went from real silver to clad. My father was pretty smart....he purchased all the silver coinage he could muster. Even after the change, he purchased silver coinage in Central America (Panama)....as I get older, he is looking smarter and smarter!!

Somehow, minting coinage in silver and gold worked for many years....what changed so drastically? What was the driving force behind the change?? Who profited

 

[stoney56]

Kind of like "What do you mean I'm broke- I've still got checks left!"

 

[omnicognic]

Somehow, minting coinage in silver and gold worked for many years....what changed so drastically? What was the driving force behind the change?? Who profited

As much as I would have loved that the U.S stayed on the gold standard,(yes, I know the difference) our economy was being manipulated by foreign governments that produced gold and silver in vast greater amounts than we could e.g. The Soviet Union. South Africa also has the ability to manipulate the global market of gold and silver, but that was not the threat that this government was as concerned about.The problem is far more complex than this but you get the idea! (I would be typing for weeks to go into every detail!) HH omnicognic 8)

 

[chirper97]

It's ironic that we now are on the 'oil' standard, and our economy is manipulated by sheiks, who are manipulated by terrorists, who work 24/7 to destroy us.

I give up!!

 

[omnicognic]

It's ironic that we now are on the 'oil' standard, and our economy is manipulated by sheiks, who are manipulated by terrorists, who work 24/7 to destroy us.

I give up!!

This is why it is so important to seek out alternate forms of energy and alternate fuels! We must get off the "oil standard"! HH omnicognic

 

[jeff of pa]

Or at Least start Drilling in Alaska & off the Coast of California

 

[rvbvetter]

Wish they would make them out of real gold. But then again, they would be so small, that once in your pocket, you would never find it again. HH

 

[jeff of pa]

Yea, they would make the Gold Dollar the Size of a silver 3 cent piece.

 

[alabamadan]

I like the Sac dollars. I carry them around and use them for tip money. The valets love them. Makes me feel old fashioned. I've never had anyone balk at accepting them. I do find them hard to locate in banks however.

 

[Emperor Findus Cladius]

I am confused, I thought the US already had gold bullion coinage (1/10, 1/4, 1/2 and 1 ounce denominations).