About $36

[Jolly]

Spot price on silver is about $32. Uncirculated American Eagle $1 coins are going for around $36.

Proposal: Let's mint a $20 Silver Eagle coin, with about 1/2 oz of silver in it. And while we're at it, let's mint a $50 silver coin, with 1 oz of silver in the coin.

[Horace]

That'd be fun. I sold lots of my silver a couple months ago when it was up around where it is now, to a local coin shop that pays better than online prices. But I still have every silver eagle I've ever acquired.

[LuFins Dad]

It costs $30 to mint a $1 silver coin. Ridiculous. They need to pull them from circulation.

[Copper]

@LuFins-Dad said in About $36:

It costs $30 to mint a $1 silver coin. Ridiculous. They need to pull them from circulation.

It costs $35 to pull them from circulation.

[Horace]

They're not used as currency, so the face value is not relevant.

[Jolly]

@Horace said in About $36:

They're not used as currency, so the face value is not relevant.

They are legal tender.

Nobody would use them that way, of course.

[Horace]

@Jolly said in About $36:

@Horace said in About $36:

They're not used as currency, so the face value is not relevant.

They are legal tender.

Nobody would use them that way, of course.

Even gold and platinum eagles have a face value, with even more ridiculous ratios of face value : metal value.

[taiwan_girl]

Somewhat related.

The US used to print a USD$100,000 bill.

But, it was not legal to own. It was supposed to be only for banks. If you have one, or tried to use one, you could be arrested.