Monday, July 11, 2011

1899 Gold $5 Coin

It may be hard to believe, but at one time you could walk into your local grocery store, plunk down one of these and buy $5 worth of goods. Today with gold prices at $1,545.50 per troy ounce that coin is worth $373.69 just in gold. This 1899 $5 Gold coin was designed by: Christian Gobrecht and is composed of 90% gold and 10% copper. Long gone are the days when you could spend these as legal tender, but with the state of our economy and our rising national dept many people are investing in these coins again. The state of Utah just passed a law making it legal to use gold and silver as legal tender again, but put all those coins back in your pockets, you need to deposit them in a participating bank and they will issue you a debt card worth their value.

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