Comments on: Gold Dips in November; US Mint Bullion Sales Mixed https://www.coinnews.net/2021/11/30/gold-dips-in-november-us-mint-bullion-sales-mixed/ CoinNews delivers the latest World and US coin news Wed, 01 Dec 2021 23:41:31 +0000 hourly 1 https://wordpress.org/?v=7.0.1 By: chuck https://www.coinnews.net/2021/11/30/gold-dips-in-november-us-mint-bullion-sales-mixed/#comment-501570 Wed, 01 Dec 2021 23:41:31 +0000 https://www.coinnews.net/?p=83665#comment-501570 In reply to Rich.

Rich,
Agree with your historical facts. Good summary from the old days.

]]> By: Rich https://www.coinnews.net/2021/11/30/gold-dips-in-november-us-mint-bullion-sales-mixed/#comment-501562 Wed, 01 Dec 2021 19:02:18 +0000 https://www.coinnews.net/?p=83665#comment-501562 Sir Kaiser, here is my best guess based upon The Department of the US Treasury official price for gold (the book value of gold is currently $42.2222 per troy ounce): The Department of the US Treasury records official US gold reserve at the values stated in 31 USC § 5116-5117 (statutory rate) which gets held to this day at $42.2222 USD per Fine Troy Ounce of gold (U.S. Treasury, June 11, 2021). This value/price for gold has remained the same since August, 1971 when Tricky Dick ended dollar convertibility to gold (closing the gold window), bringing an end to the Bretton Woods System. Therefore my guess is that the face value of $50 for the One Ounce Gold American Eagle approximates the U.S. Treasury value of $42.22; platinum used to be twice the price/value of gold, so the face value of $100 was assigned to the One Ounce Platinum American Eagle; and palladium used to be half the price/value of gold, so the face value of $25 was assigned to the One Ounce Palladium American Eagle.

]]>