The US Mint is selling one ounce of gold at 5 times the current market value, which is at time of this post around $4000
https://www.usmint.gov/freedom-ringing-liberty-bell-one-ounce-gold-coin-26LB.html
1 Like
The flaws in a coin increase its value for collectors. Commemorative coinage is worth the metal, not the occasion. Perhaps collectors with money to burn may purchase them for nostalgia.
1 Like
Indeed, the U.S. Mint is 100% off the rails and operating outside their charter.
There are laws governing the operation of the mint, including prescribed levels of coin production. Apparently the mint has been criminally under-producing American Eagle 1oz silver ancoins over the past few years.
Many people are unaware of the fact that we’ve been in a supply deficit for silver production for a few years, meaning, our industrial consumption of silver (absorbed into production of phones, photovoltaic cells, batteries, E/Vs, etc) is outpacing our mining output. We have capability to recycle silver, so gramma’s fine silver cutlery can be melted down and re-processed for the industrial uses mentioned previously, but that is understandably a finite supply.
Bix Weir from Road to Roota is a pretty good resource for information related to the silver complex; he has called out the U.S. Mint a few times on shenanigans like this.
2 Likes