- Jul 5, 2014
- North Shore, MA
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Not sure if this was an edit to the story or you saw it already : “The “uncirculated” the US Mint is referring to means the coin comes in the Mint’s presentation box with a Certificate of Authenticity.”Uncirculated is just whatever pops out of a mint tube, right? $67?
Edit - just saw in the story that they say uncirculated is a step above the tubes but not quite numismatic. Still - $67?
When Germany invaded Denmark in World War II, Hungarian chemist George de Hevesydissolved the gold Nobel Prizes of German physicists Max von Laue (1914) and James Franck (1925) in aqua regia to prevent the Nazis from confiscating them. The German government had prohibited Germans from accepting or keeping any Nobel Prize after jailed peace activist Carl von Ossietzky had received the Nobel Peace Prize in 1935. De Hevesy placed the resulting solution on a shelf in his laboratory at the Niels Bohr Institute. It was subsequently ignored by the Nazis who thought the jar—one of perhaps hundreds on the shelving—contained common chemicals. After the war, de Hevesy returned to find the solution undisturbed and precipitated the gold out of the acid. The gold was returned to the Royal Swedish Academy of Sciences and the Nobel Foundation. They re-cast the medals and again presented them to Laue and Franck.
$67 is for PROOF coins.Just typically government waste. It should not cost $67.
I think of the Fall of Saigon as a reference. They say it cost 12-14 oz of gold per adult, half per child, to smuggle yourself out of the country on a ship (the bribe went to smugglers and government officials). That's a lot of gold for a family of 4, I doubt many Americans have that (I don't), but they probably should.I've put away some silver bullion and a couple of gold coins, mainly for it's SHTF value and to complement the guns, ammo, emergency food stores. What is everyone's thoughts regarding graded silver and gold coins? I've seen various graded/proof coins that have a cost premium well above it's actual metal value. Would such coins retain a premium if the SHTF? Or is the consensus of NES to simply stick with bullion/non-graded coins?
Yeah, Gold was fixed at $35 until 1971, but was very undervalued and foreign governments were cashing in their dollars for gold, that's why Nixon had to take us off the gold standard - gold shot up 25x for a decade to $850 after he did that.Yea but gold was around 40-50$ an ounce back then. I was in the service and was making 80$ a week.
Yea. My old rule of thumb was to only buy things that would improve in value and @ 10% a year on average. Take gold at 40 an ounce, double it for each 10 years from 1971 to 2021 (no compounding). That math comes out to $1280 for 50 years.Yeah, Gold was fixed at $35 until 1971, but was very undervalued and foreign governments were cashing in their dollars for gold, that's why Nixon had to take us off the gold standard
Years back I was doing emergency work and had a response to a boiler problem. The home was a single family owned by a young husband and wife. It was originally a mom and pop corner store and the store was long gone, leaving the whole place as living space. The boiler was ancient, one of those hot air octopus style things. The oil fired system was too far gone and it needed a new gun assembly at the minimum. I suggested that he consider a complete replacement as it would probably pay for the installation inside of 10 years.I have a friend whose husband runs a pair of businesses that are very cash centered. They’re always finding big stacks of small bills squirreled away around their house, in the walls, etc.
Foresight was hard to come by in my family. My dad saved all his old computer crap for me. Hopefully when I inherit that stuff Best Buy will still have its recycling program.My dad had enough foresight to save up all his pre-64 dimes, quarters, and half-dollar coins, and gave them to me when I was a kid.
I still have those plus a lot more from what I collected over the years.
Much later, he handed off his gold stash to me about 5 years ago (yep he was smart enough to also hang on to all the Au he bought going back to the 60's and never sold any of it) .
I'm sure glad he saved everything, instead of selling off....
No.I think gold in 1971 was still fixed by the government, but it was adjusting the price. It didn't float the price completely til 1976.
Gold convertibility was a separate thing - the price was still fixed (but regularly adjusted) I think until 1976. In 1975 the government allowed the public to buy gold again.No.
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With inflation on the rise and a gold run looming, President Richard Nixon's team enacted a plan that ended dollar convertibility to gold and implemented wage and price controls, which soon brought an end to the Bretton Woods System.www.federalreservehistory.org
No.the price was still fixed (but regularly adjusted) I think until 1976. In 1975 the government allowed the public to buy gold again.
And you posted mint prices, that's retail gold, mint coins etc, rather than the official spot price, or whatever they called it back then.
In 1971, President Richard Nixon said the U.S. would no longer convert dollars into gold at the official exchange rate
Nixon was gone for 2 years by 1976. Ford authorized gold ownership in 1974.in 1976, Nixon officially abandoned the gold standard altogether.