2006-11-27 11:07:48 · 3 answers · asked by tahid59 s 2 in Games & Recreation ➔ Hobbies & Crafts
If bullion coins did not have a denomination they would be considered in the world community a token or medal. One of the definitions of a coin, is it has to have a denomination. The dollar was picked for the silver eagle, for though larger than a Morgan or Peace dollar and with .999 silver instead of .900, they can be considered relatives. As for the gold, it looks like they just updated the denominations, from the gold coins minted by this country Pryor to 1933. I guess the one ounce size at $50, could be called a modern double eagle, which was a $20 gold piece back then. I would still rather have the real double eagle, over a one ounce modern gold coin. Hope I explained this okay.
2006-11-27 14:38:38 · answer #1 · answered by Taiping 7 · 1⤊ 0⤋
To the best of my knowledge, the face values are basicly just placeholders. The mint has to assign a face value to any U.S. coin manufactured, even if the face value is not actually what the coin is worth.
Think about it. Even though a quarter dollar is labled as a quarter, the value is not really stamped on the coin, but less. Gold and silver actually outweigh the face value, so it is the same thing only on the opposite end of the scale.
2006-11-27 11:32:35 · answer #2 · answered by billydeer_2000 4 · 0⤊ 0⤋
by referring to the price per ounce of gold on the day of minting. (or silver or platinum depending on the metal used in minting)
2006-11-27 11:30:08 · answer #3 · answered by weazalus 3 · 0⤊ 1⤋