Buffalo Gold Coin

[Murkan Mike]

Why do you think the gummint made their first .9999 (4 nines) gold bullion coin in a $50 denomination? 

Also, according to their website "By law, all of the gold used in the production of the American Buffalo bullion coin must be from newly-mined sources within the United States."

Why do you think they made such a requirement?  I'm not trying to start any conspiracy theory, but it would seem to me that if they wanted to put a bullion coin into circulation (I still can't see what they have to gain by doing so) they would give it a larger denomination, and would use whatever gold they had on hand.   

Are there any sound reasons for doing this?   I mean.... not that anything they do is based in sound reasoning.


Just curious.

[digitalfour]

Aren't all US gold coins based on $50 an ounce?

[davann]

Not sure why $50 was chosen, but I know Ron Paul got something passed back in the 80's to get the whole ball roll'n.

Edit.

This might help.

http://www.izagg.com/WealthBuilding/Postings/goldinfo3.htm

And this under Sound Money/Federal Reserve

http://en.wikipedia.org/wiki/List_of_legislation_sponsored_by_Ron_Paul