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To: Jim Verdolini
I have a few double eagles from the US Mint that have a ‘value’ of $50 on the coin. The 1 OZ gold vale, the real value, is almost $800. Is not the government selling me a coin with a government value value 1/16 of its actual value and is that not fraud?

What did you pay per coin for possession?

538 posted on 11/15/2007 1:40:02 PM PST by bcsco ("The American Indians found out what happens when you don't control immigration.")
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To: bcsco

“I have a few double eagles from the US Mint that have a ‘value’ of $50 on the coin. The 1 OZ gold vale, the real value, is almost $800. Is not the government selling me a coin with a government value value 1/16 of its actual value and is that not fraud?

What did you pay per coin for possession?

Depends, from $420 to $750 each. (depends on the time). What I am noting is that the government is selling the coins at their bullion value (and a bit) but only redeams them for 1/16 of their actual gold value. The government is only on the hook for a tiny fraction of the actual value of the coin if used in trade.

Look at it this way, say you buy a new car but the car comes with a legal statement that advises that the car can never be sold in the future for more than 1/16 of its current value. If the government tries another gold grab like the 1930’s, do you think they will reimburse owners at teh actual value (which would skyrocket) or at the fake value on the coin itself?


542 posted on 11/15/2007 1:45:42 PM PST by Jim Verdolini
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