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 Replies: 32 / Views: 2,542 |
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Pillar of the Community
United States
4869 Posts |
By LAURIE KELLMAN, Associated Press Writer WASHINGTON - 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 422-6 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 but sell for many times that amount at fluctuating prices based on the price of gold. The new dollar coins would be the same shape, size and makeup of the gold-colored $1 coins now bearing the face of Sacagawea. The coins imprinted with her face would remain in circulation. Sen. John Sununu (news, bio, voting record), R-N.H., is expected to introduce a similar bill in the Senate. The Sacagawea coin, named for the Lemhi Shoshone Indian who helped Lewis and Clark find their way to the Pacific Ocean, was introduced in 2000 but never caught on with the public. Officials at the Mint estimate said the new $10 bullion coin could help the United States grab a bigger share of the global market in gold collector coins. They estimate that the potential world market for 24-karat gold coins is about $2.4 billion annually. That market is dominated now by Australia, Austria, Canada, China, Singapore and Mexico, whose 24-karat coins account for about 60 percent of global gold coin sales. Since 1986, the Mint has produced 22-karat American Eagle gold bullion coins for collectors in $50, $25, $10 and $5 denominations. ___ The bill is H.R. 902. http://story.news.yahoo.com/news?tm...ss_gold_coin |
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Pillar of the Community
United States
2724 Posts |
I put a post up in the coins in the news section about this. Mr. Castle attached a 2009 Lincoln redesign to this bill to get it passed. A low blow to say the least. Everyone wants a redesign, and this was the most legitimate way to get that done. Now mark my words, 2 years and the only Presidential dollars offered will be through the Mint. Once again, we have another worthless failed dollar coming to America. The absolute saddest part of all of this is that some "people" and I use that term very loosely believe that a Presidential series will make the dollar coin circulate. These are the same brain surgeons that promoted the SBA and Sac Dollars. Is there no COMMON sense left in Washington DC? |
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Pillar of the Community
 United States
4869 Posts |
I just don't get it. This is going to be disasterous!
David
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Valued Member
United States
421 Posts |
The dollar coin will never circulate in commerce unless the choice of the dollar bill is taken away, IMHO. Might as well use the dollar coin as a Commem. I am not sure this will have the same effect on the hobby as the State Quarters have but I would not be surprised if there was additional surge in interest because of it. I wonder if there is any chance that this new coin will satisy our odd need for presidents on coins and let the other denominations have a true redesign. Probably not... |
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Pillar of the Community
United States
867 Posts |
Oh boy, here we go again. I can see these being popular for a little while when they are released, but then they'll be just like the Sackies, taking up space in my vault. We couldn't get enough Sackies when they were first released, but now just try to give them away!  Rachel [:p] |
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Valued Member
United States
421 Posts |
I would think some Presidents would be more in demand than others. I can see a Teddy Roosevelt dollar being a bit more often hoarded than a Millard Fillmore dollar.  But, I think the interest will probably be a little more sustained than the Sackies. |
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New Member
United States
16 Posts |
Hey Rachel...just how many would you want to give away?
:)
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Pillar of the Community
United States
1203 Posts |
quote:
Originally posted by national dealer
The absolute saddest part of all of this is that some "people" and I use that term very loosely believe that a Presidential series will make the dollar coin circulate. These are the same brain surgeons that promoted the SBA and Sac Dollars. Is there no COMMON sense left in Washington DC?
someone once defined "insanity" in the following manner: "Insanity is doing the same thing, the same way, and expecting different results." Now does this tell you something about our reps in washington? |
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Forum Mom
 United States
5877 Posts |
quote:
Originally posted by OldDan
someone once defined "insanity" in the following manner:
"Insanity is doing the same thing, the same way,
and expecting different results."
Now does this tell you something about our reps in washington?
Nothing that I didn't already know...  |
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Pillar of the Community
United States
7123 Posts |
Just think one day we will have PROOF on Clinton ,  wont that be Sooooooo Cool !!  Rick |
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New Member
United States
41 Posts |
This is good news (for the Mint). The Proof Set/Mint Set for 2007 and 2008 will have to have three 'containers'; one for the quarters, one for the dollars, and one for the cent, nickel, dime, half, and golden dollar.
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Valued Member
United States
382 Posts |
Idiots...just out of touch idiots.  |
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Valued Member
United States
421 Posts |
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Pillar of the Community
United States
867 Posts |
quote:
Originally posted by GoldenRuler
Hey Rachel...just how many would you want to give away?
:)
Well, I think my boss would frown on me giving them away.... We actually don't have as many as I thought, someone must have bought some when I wasn't looking.  Less for me to count! Rachel [:p] |
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Pillar of the Community
Belgium
2078 Posts |
Maybe they should put mona lewinsky on a gold coin I would buy one Edited by ageka
04/29/2005 06:11 am
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Pillar Of The Community
3147 Posts |
I can't help but wonder what these will do to the price of proof and mint sets as they SHOVE them off on all of the collectors in this country? The gold spouse coins SHOULD flop big time!!!
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Replies: 32 / Views: 2,542 |
Posted 04/27/2005 5:39 pm
