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2006-08-17 12:50:40 · 4 answers · asked by Rockvillerich 5 in Business & Finance ➔ Investing
This rare coin was minted in 2001 along with millions of others.
2006-08-17 13:06:34 · update #1
It is not a rare coin, but a bullion coin issued by the US. There is exactly 1 ounce of gold in a $50 coin, but the coin weighs a little more than an ounce since the mint mixes in copper to make it more durable, (the new Buffalo is pure gold). The price is a factor of the gold price plus a premium since it is a coin. When shopping for these, try to find a reputable dealer with the lowest premium charged. Most dealers charge a premium when selling, but buy them from you for the spot price of gold, (no premium).
2006-08-18 05:43:37 · answer #1 · answered by medoraman 3 · 0⤊ 0⤋
It costs $649.00 because that is the coins VALUE in WEIGHT the $50 dollar value is meaningless, the coin is 1 ounce of gold....1 ounce of gold currently costs about $650
2006-08-17 20:19:47 · answer #2 · answered by ? 2 · 0⤊ 0⤋
Actually, the price of gold has dropped to $613 an ounce. Some people think it may jump to $800 or more due to inflation and geopolitical unrest. Who knows? I bet those coins look like though.
2006-08-17 20:58:39 · answer #3 · answered by Peter B 2 · 0⤊ 0⤋
Maybe because the gold coin was made then discontinued and has become very rare.
2006-08-17 19:56:33 · answer #4 · answered by 13yearoldComputerNerd 2 · 0⤊ 0⤋