Mint temporarily halts production of Buffalo gold

[thurmownator]

http://www.forbes.com/reuters/feeds...MINT-AMERICANBUFFALO-SUSPENSION-UDPATE-1.html

 

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[BBcardsRI]

Not surprising at all after the AE debacle. :P

Damn mint... lol

~Dave

 

[Narthoniel]

They dnt mention the first lady $10 half ounce gold coins. I guess they are still going strong

 

[jim4silver]

They dnt mention the first lady $10 half ounce gold coins. I guess they are still going strong

They are still available on the mint website. But who would want them? They are approx. 600 bucks for a half ounce of gold. What a rip off. Lots of other cool gold items to buy cheaper than that.

Jim

 

[GasCan/NW-GA]

I think they are still producing the buffalo, just halted selling them.

 

[airborne1092]

So lemme get this straight -

I can either use money minted by a private company contracted by our govenment but that isn't worth crap - essintally buying into a loan or IOU from the govt

OR

I can buy a REAL coin, based on and minted with a stable commodity but pay an inflated price for it BECAUSE it's minted by a private company contracted by our Govt?


Wow - whatever happened to getting face value for a coin no matter how small or insignificant, based on said same commodity?

I just never have liked the idea of paying more for a coin than it's worth in real material, whether it's 2.3 cents to mint a penny and I'm paying for it as a taxpayer, or paying taxes to pay the contracted BUSINESS to print/mint something that should only cost face value!

Does any of this make sense, or am I just rambling...?

 

[jim4silver]

So lemme get this straight -

I can either use money minted by a private company contracted by our govenment but that isn't worth crap - essintally buying into a loan or IOU from the govt

OR

I can buy a REAL coin, based on and minted with a stable commodity but pay an inflated price for it BECAUSE it's minted by a private company contracted by our Govt?


Wow - whatever happened to getting face value for a coin no matter how small or insignificant, based on said same commodity?

I just never have liked the idea of paying more for a coin than it's worth in real material, whether it's 2.3 cents to mint a penny and I'm paying for it as a taxpayer, or paying taxes to pay the contracted BUSINESS to print/mint something that should only cost face value!

Does any of this make sense, or am I just rambling...?

Airborne,

I hear what you are saying, so it is important to be a smart shopper if you are looking to buy gold.

If you are interested in getting gold coins as close to spot as possible, right now you need Mexican 50 peso coins or Austrian Coronas.

This all revolves around supply and demand. In the years I have been watching gold and silver, I have seen certain items become the must have of the day and go way up in price. A week or so ago coin dealers were paying 200 dollars over spot for proof American gold eagle one ounce coins. Apparently someone out there is buying them and probably paying the coin dealer 250 to 300 per coin over spot. Crazy isnt it?

In the past I have seen graded or certified pre 1933 US gold coins skyrocket in price, then drop like a rock, then go back up a bit. I dont believe in buying an ounce of gold and paying double or triple what an ounce is worth because someone put the coin in a plastic holder and said it is an MS65, etc. I know a person who told me he lightly dips gold coins before he sends them to be graded and they always come back graded, even though the main coin grading companies say they will not grade a cleaned coin. Dipping is cleaning I thought.

I do think we will see more "shortages" of bullion, etc., as our dollar gets weakened. You can see changes happening now that a year ago would seem unheard of. Krugerrands used to be the black sheep of the bullion world, but now they sell for as much if not more than Maples. I think they are being accumulated en mass in Europe and elsewhere. I know that Asians and Indians prefer .999 gold and will not generally touch 22 karat coins, so I doubt they are getting in on the Krugs.

Jim