Monday, August 22, 2011

Figured this was coming.

All US Mint Numismatic Gold Coins Suspended.


FG said...

All the glitters is not gold.

Sometimes its brass, or aluminum cans.....OF FOOD.

Anonymous said...

Just stick with trusty old Krugerrands.

John Smith. said...

And so it begins..

WarriorClass said...

The wild flucuations in equities and PMs will continue until the system implodes.

Why should 'we the people' pay interest on debt that was created out of thin air? Because the Banksters own the government, who forces you to.

Jefferson said something about that...

In 1775 we had an answer. It's still the same question, folks.


Anonymous said...

The mint seems to be having problems setting prices on its numismatic offerings. Maybe they should forget setting prices all together and auction them off 'a la ebay'. Perhaps letting free markets determine prices doesn't fit with their program.

In the mean time, if you're not looking for a 2006 proof set to fill in a hole in your collection, you should be avoiding "numismatic" coins and investing in bullion coins. If you don't know the difference you have some studying to do.

If TSHTF, the guy at the gas pump isn't going to be impressed by your proof set. You're going to need some fractional ounce gold or junk silver to get by.

Anonymous said...

"In 1775 we had an answer. It's still the same question, folks."

The Coinage Act of 1792 allowed for a similar answer. Debasing the currency was a capital crime. ;^)


pdxr13 said...

Why should the Mint sell coins below melt value?

This is a "re-pricing pause" in sales. Unfortunately, a pause in sales for any reason slows the transfer of good money to the hands of the American people.

The people who do "pricing" ought to figure a percentage or a fixed dollar amount to add to the bullion value and ship the goods. I could do this in about 90 seconds with confidence that we wouldn't lose money and the dealers would still buy.


Anonymous said...

Numismatic. That means overpriced collectible coins. This does not affect bullion coins.