Posted on 09/27/2008 2:33:32 PM PDT by mathprof
The U.S. Mint is temporarily halting sales of its American Buffalo 24-karat gold coins because it can't keep up with soaring demand as investors seek the safety of gold amid economic turbulence. The 1-ounce coin has a face value of $50 but is priced for sale according to the fluctuating value of gold.
(Excerpt) Read more at sfgate.com ...
I tried to get some more silver but they were out.
Nice looking coin
I would have to say that halting sales and running out are not exactly the same thing. Halting sales sounds as if it’s being done by choice. But you can’t choose whether or not to sell something you are out of.
That said, I believe sincerely that, if things really are as bad as the people hoarding gold believe they are, investing in gold is pretty foolish because what you’ll really want is things you can either eat or use to defend yourself.
I assume you could buy anything you want with gold.
Proof and uncirculated gold coins are still for sale at the mint because they are way over priced....
With the well publicised inability of the U.S. Mint to keep up with demand for some of its gold coins, the Canadian Mint says it has no such problems.
I’m only half joking when I say you need to make friends with some Mormons. They’ll have food AND guns! And I’m only half kidding.
I wouldn’t assume that. It assumes the people who have what you want would value gold, and they just might not. If things go that far downhill that fast, people will not be rational.
My guess: people in other countries are not nearly as panicked as we are.
If you sell 25 ounces (I believe) of foreign coins in a year you have to have a 1099. Not so for US coins.
My dealer is out of gold and silver and he is the largest in the region.
Why would anyone want to own gold when they could own T-bills which are as good as gold and pay interest?
ROTFLMAO! Hide the beer unless you invite them both at once to check up on each other! You clearly know the culture, as I do!
Same rule for taking Baptists fishing with you.
The government isn't planning on running the gold mines to double* the amount in circulation and halve the value of each ounce like they will with dollars bills (or T-bills).
* double is just for an illustration. It could be 10% more, it could be triple, but the end result of the bailout will be an attempt to create enough inflation so that the burst bubble real estate values get back to above their mortgage values.
LOL!
“if things really are as bad as the people hoarding gold believe they are, investing in gold is pretty foolish because what you’ll really want is things you can either eat or use to defend yourself.”
Wow, that’s quite a bit more pessimistic than anything I’ve read. You wouldn’t even buy a little whiskey to barter with? You’re going directly back to hunter-gatherer?
Too much “imminent doom” begin preached here, from the economy to the weather.
You cannot tax (A Country) your own money.
True, If anyone wants gold it’s everywhere.
Time to invest in tulip futures, folks!
The greenies are killin that. To much semi-global warming involved.
Only telling what they told me at the coin shop.
You might check the Patriot Act. But they were quite clear, sell Maple Leafs or Kruggerands over 25 ounces per year and it will be tracked.
There was a story in Vegas recently about a guy paying his employees in gold and silver coin. The IRS got involved and lost the case.
http://www.rense.com/general78/defeat.htm
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