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Change Eagle prices daily

When uncirculated “W” mintmarked gold American Eagle sales were stopped yesterday afternoon, a story was posted on www.Numismaticnews.net by the Numismatic News staff.
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Sales are suspended for up to two weeks as the Mint reviews its options. A government agency can do this. A business would not. Getting something back up and available as quickly as possible would be the goal of business. Navigating the bureaucracy and getting everybody to sign off on the new prices is the government’s goal.

Even the government does not want to sell something at less than market value. That is laudable and it is the essence of my point here.

Because the “W” coins are supposedly bullion coins sold directly to collectors by the Mint and because the prices of ordinary bullion coins sold through the national dealer network fluctuate daily, the Mint should consider setting daily or weekly prices for the “W” gold bullion coins and the “W” platinum and silver bullion Eagles, too, while the staff is at it.

In volatile market times, what is the alternative? What if the Mint reprices the gold American Eagles at new and higher prices and gold takes a tumble? What if gold shoots up to $1,000 as some are forecasting?

Would the result be two-week sales suspensions at $800 an ounce, $900 an ounce and $1,000? That would add up to eight weeks of suspended sales, including this one, if such a scenario unfolds.

Call bullion bullion and price it like bullion. That means the prices fluctuate. Collectors understand. They might grouse about not getting a bargain, but they understand.

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2 Responses to Change Eagle prices daily

  1. Bix Weir says:

    You’re forgetting one other possibility… that the mint is expecting an abnormal move in the price of gold. That abnormal move has been predicted ever since the US began it’s computer driven price supression scam back in the early 1980’s. I believe it makes more sense that the price of gold is on the door step of a skyward breakout well above what the even hopefull goldbugs would understand. If you read the Federal Reserve Boston’s banking publication called "Banking Basics" you see the future of gold in the pictures provided.

    The Mint’s "re-pricing" of gold is the final blow for the Gold Cartel that manages it’s daily actions.

  2. HHN says:

    Fort Knox is probably empty!
    nobody wants to sell us gold,paid with US Dollars.

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