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Why Are 1-Oz Silver Eagles $1 And Gold 1-Oz Double Eagles $20?

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Pillar of the Community
United States
5214 Posts
 Posted 02/01/2016  11:28 pm  Show Profile   Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply

Quote:
That being said, it would be interesting if they created a five ounce gold coin with a $500 or even $1000 face value on it


The drug cartels will back your plan unless they are serial numbered and registered.
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jbuck's Avatar
United States
190135 Posts
 Posted 02/02/2016  12:14 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Not if it means having to buy them from mint authorized dealers at 20x face.

Remember, we are talking about bullion with a nominal face value, not hard currency.
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Biedercoins's Avatar
United States
1606 Posts
 Posted 02/02/2016  2:56 pm  Show Profile   Bookmark this reply Add Biedercoins to your friends list Get a Link to this Reply

The matter of face value versus actual silver (or gold) content in a coin gets even more interesting when you consider that [pre-1965]10 dimes does not equal a dollar. Nor did two quarters and 5 dimes.

This is mostly a historical account because we don't use silver coinage as we did pre-1965. Check out this thread:

https://goccf.com/t/92055#763823

I found it not only educational but quite entertaining.

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