Congressman Implies There's Gold In Sacagawea Dollars

[madfranks]

Link Here (http://motherjones.com/mojo/2010/09/beck-Goldline-Congress-washington)


Whitfield had dispatched his staff to buy a roll of coins from the U.S. Mint for $35. He said the "melt value" of the gold in those coins was substantially less than what they paid for them—to the tune of a 2000 percent markup. "Even the US government is doing a tremendous job of marking up its product as well," Whitfield observed.

According to coinflation.com, Congressman Ed Whitfield bought a $35 dollar roll of sac dollars from the mint (http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=15520&langId=-1&parent_category_rn=10112) and, as quoted above, described the melt value of gold in the coins! What an idiot!

[Dogman]

Link Here (http://motherjones.com/mojo/2010/09/beck-Goldline-Congress-washington)


Whitfield had dispatched his staff to buy a roll of coins from the U.S. Mint for $35. He said the "melt value" of the gold in those coins was substantially less than what they paid for them—to the tune of a 2000 percent markup. "Even the US government is doing a tremendous job of marking up its product as well," Whitfield observed.

According to coinflation.com, Congressman Ed Whitfield bought a $35 dollar roll of sac dollars from the mint (http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=15520&langId=-1&parent_category_rn=10112) and, as quoted above, described the melt value of gold in the coins! What an idiot!


That makes him highly qualified for his job.. :sarc:

[BrewTech]

He said the "melt value" of the gold in those coins was substantially less than what they paid for them

Technically, he's right... ;D

[Ragnarok]

"Naturally wanting to get the final word in a hearing he'd been spoiling for since May, Weiner used his time not to ask questions but to dress down Carter for being a threat to the average American consumer. He scoffed at the idea that somehow socking away money in the form of old 20-franc Swiss gold coins, one of Goldline's most popular offerings, would give Americans any protection against a collapsing economy. "If you're holding a bunch of Swiss francs when the economy collapses, good luck buying a loaf of bread with that," he railed. "This is not about whether consumers are stupid. It's about whether you should be doing this. Just because you put the ripoff in the disclosure form doesn't mean you should do it."

:-[

Actually it IS about consumers being stupid - stupid enough to elect high stupidity to high office! >:(

2c, R.

[mike88]

"if you are holding a worthless inflated federal reserve note, good luck buying a loaf of bread with that" currently worth 1/1300 oz. gold.