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February 26, 2009


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When I was at the gym yesterday, I noticed that there was a commercial for a mint that was selling gold coins. The commercial noted that in these troubled times, investors were flocking to gold investments. They also put up a graph that showed how the value of gold has increased by 300% since 2001.

Now, we often hear that the way to get rich in the stock market is to buy low and sell high. Now I don't have any money in gold coins, so why would I want to buy gold coins right now? After all, if you want to build wealth, buying high and then selling low isn't the best way to go about it. If I were going to buy anything, shouldn't it be stocks, since they are a decade low in price?

Brian --

These coins don't have any (or much) gold in them -- they're just gold in color. They are the new $1 coins (bought for $1, worth $1) with which the US Mint is using to replace the $1 (paper) bill.

I hope these catch on, we can save so much money using coins rather than bills.

Yeah, this way people will get used to the dollar being a coin for the day when it's worth about a quarter.

Can they please get rid of the penny at the same time?

I don't see the incentive for $1 coins. Isn't it cheaper to produce bills rather than coins? Is it just for kicks?

Angie, it's cheaper to produce but coins last much longer. It's estimated that a coin lasts thirty years and a bill only one, that's why coins are better.

i like the dollar coins, nice to hear others are useing them. if the us gov't gets rid of pennies, i will be sad, so many people just give them to me, it's a few extra dollers a year in my pocket. added this languageto their website in Dec 2009.

The intended purpose of the Circulating $1 Coin Direct Ship Program is to make $1 Coins readily available to the public, at no additional cost, so they can be easily introduced into circulation–particularly by using them for retail transactions, vending, and mass transit. Increased circulation of $1 Coins saves the Nation money.

The immediate bank deposit of $1 Coins ordered through this Program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the Program

Coins cost more to m,ake than paper money, but coins last 26 years and a paper dollar lasts 6 months

Rich Guy --

FYI, I did circulate mine. See the links above for the various ways I did this.

The United States Mint has eliminated the credit and debit card purchase of $1 Coins through its Direct Ship Program effective July 22, 2011. Customers who wish to purchase $1 coins through the Direct Ship Program can still do so by wire transfer, check, or money order.

The Mint has determined that this policy change is prudent due to ongoing activity by individuals purchasing $1 coins with credit cards, accumulating frequent flyer miles, and then returning coins to local banks. Local banks, in turn, returned coins to the Federal Reserve. While not illegal, this activity was a clear abuse and misuse of the program.

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