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Thread: What can people tell me about the Sacagawea Golden Dollar?

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    God/dess fancygirl's Avatar
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    What can people tell me about the Sacagawea Golden Dollar?

    So the local toll road has been handing these coins back as change and I started to wonder...

    I'd heard that they are gold covered coins.

    With the somewhat skyrocketing prices of gold (or...so the prices were a few months back, not up on the current price) I'm wondering how these gold dollars will fare.

    Are collectors collecting them now? Are they only collecting certain prints/years?

    Just curious because it sounds like a fun hunt to go stockpile a hundred or so of these for the kids in my life to look at a few years from now.

    What do you think?

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    whoops! guess it's not gold covered after all.

    any other info on collecting it?

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    the 'gold' color comes from the zinc, nickel and manganese content ... not from gold !



    basically the Sagajawea dollar is a base metal 1 dollar coin probably actually worth about 20-30 cents in terms of metal content, and its numismatic value (at the moment anyhow) is non-existant.

    in contrast the nominal US$20 one ounce Gold Eagle coin contains 22 karat gold, and while worth $20 based on its gold content prior to 1933 is now worth $633.50 based on its gold content alone.

    As to how gold is doing lately, I have recently bought back into some gold mining stocks (specifically 2899.hk = ZIJMF and MFM ) based on recent Chinese gov't actions directly promoting the increased private ownership of Gold by Chinese workers and an announcement that the Chinese gov't will increase their gold reserves, as well as a fairly obvious scenario in place for a major tanking of the US dollar in 2007. In a more general sense --->

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    Last edited by Melonie; 12-29-2006 at 07:04 PM.

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    Quote Originally Posted by Melonie View Post
    the 'gold' color comes from the zinc, nickel and manganese content ... not from gold !

    http://www.usmint.gov/about_the_mint...specifications

    basically the Sagajawea dollar is a base metal 1 dollar coin probably actually worth about 20-30 cents in terms of metal content, and its numismatic value (at the moment anyhow) is non-existant.

    in contrast the nominal US$20 one ounce Gold Eagle coin contains 22 karat gold, and while worth $20 based on its gold content prior to 1933 is now worth $633.50 based on its gold content alone.

    As to how gold is doing lately, I have recently bought back into some gold mining stocks (specifically 2899.hk = ZIJMF and MFM ) based on recent Chinese gov't actions directly promoting the increased private ownership of Gold by Chinese workers and an announcement that the Chinese gov't will increase their gold reserves, as well as a fairly obvious scenario in place for a major tanking of the US dollar in 2007. In a more general sense ---> http://www.marketwatch.com/news/stor...&dist=moreover

    ~
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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    I love dollar coins. Canada has them and also $2 coins...it's very convenient.

  6. #6
    Jay Zeno
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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    I get 'em in change sometimes in automated parking lots. They're available.

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    You get them from the stamp vending machines at the post office also.

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    yes, but ultimately that 1 dollar base metal coin is only worth 30 cents. And like the US 'nickel', when enough US dollar inflation occurs to make that 1 dollar base metal coin worth 1 dollar's worth of base metals, the gov't will pass a law saying it's illegal to melt them down and cash in the metal content !

    On the other hand, that 1933 20 dollar gold coin is worth $600+ today, and probably more tomorrow ! The more US dollar inflation occurs, the more the gold coin is worth.

    Of course, a paper dollar isn't worth anything at all in terms of content value ! Let's hope that a Weimar inflation scenario never occurs --->

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    Quote Originally Posted by Mr Hyde View Post
    I love dollar coins. Canada has them and also $2 coins...it's very convenient.
    Not just Canada.. it's SUPER convenient. I can have a pocketful of change that totals $40... instead of $.20.


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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    Quote Originally Posted by Mr Hyde View Post
    I love dollar coins. Canada has them and also $2 coins...it's very convenient.
    Quote Originally Posted by lilithmorrigan View Post
    Not just Canada.. it's SUPER convenient. I can have a pocketful of change that totals $40... instead of $.20.
    Can you guys elaborate what you mean by convienent? I can perhaps understand that in certain spending situations (vending machines, toll booths, etc.) where this would come into play, but as far as simply carrying the money around, I'd much rather have the lighter and foldable paper currency which I can comfortably place in my wallet than a pocketful of heavy clunky coins.

    Needless to say, the reason that Canada and Austrailia have had success with dollar coins while they have largely failed here in the US, is because those countries didn't give their citizens any choice but to use coins. As soon as coins were introduced, the respective banknotes were withdrawn from circulation.
    Former SCJ now in rehab.

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    I could see how it would be convenient from the government's point of view. They outlast paper money so they don't need to be shredded and recirculated and would certainly be more difficult to counterfit!

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    paper money?! PSH! We have PLASTIC money! It can't get wet or anything... you also can't fold it. So 'foldable paper currency' doesn't work. Of course, you can't even TEAR these suckers.

    But $2 coins are great for a lot of things. They're sized and weighed much differently than the rest of the coins so you can feel them easier. A $2.60 toll, no notes? $2, $.50 and $.10 OR... $2 x 3 $.20.

    NO vending machines take notes here unless at a theme park or somewhere strange...

    Also, the smallest note is a $5 and the smallest coin is a $.5

    Things are rounded up or down.. which is why everyone gets $10.02 of petrol, hahaha.


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  13. #13
    Jay Zeno
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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    True enough, in most countries, as the denomination gets larger, the bills or coins get larger. So you can tell by touch what bill or coin you have.

    In the U.S., perhaps thanks to us inheriting a fairly arcane British system and never really getting out of it:

    The 1 cent piece is smaller than the 5 cent piece, but the 10 cent piece is smaller than both. The 25 cent piece is larger. There are no other divisible-by-10 pieces until 50 cents, which is rarely used, and is bigger yet. Then you get to the dollar coin, even more rarely used, which is bigger than the 25 cent piece but smaller than the 50 cent piece.

    As for the U.S. bills, they're all the same size. They're made of a special fabric paper. Unlike AUS/NZ money, you can rip them up. There's no "window" to make counterfeiting more difficult.

    I like it here, but some of what we do isn't very logical. If it does change, it'll probably be some obscure reason, like making it easier for blind and bad-eyesight people to know whether they're paying $1 or $100.

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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    Not to mention, how does a blind person use money in America? I never thought of it when I lived there... but all you have to do is feel them and go 'Oh, I have a 5 and a 20'... and I heard you need to have a trustworthy friend to fold them for you and HOPE people are honest in giving you change?

    However the $2 coins here are smaller... but they are the heaviest.. I believe it's by weight here.


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    Default Re: What can people tell me about the Sacagawea Golden Dollar?

    Recently a federal court issued a ruling the US needs to make money more blind friendly.

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