Gold at $2,475 an ounce — depending on the vendor…

Posted August 28, 2008

Gold bugs ought to be celebrating: Someone is selling gold at over $2,000 an ounce!

by J. Christoph Amberger

Baltimore — (TFN): I ran across a full-page ad in Newsmax magazine today advertising a smallish gold coin depicting an owl. The advertiser, New York Mint, describes the unique opportunity as follows:

“Most owls are nocturnal, actively hunting for prey under the cover of darkness. Their hunting strategy depends on stealth and surprise. Much to our surprise, we were able to secure a small allotment of these exquisite coins. Struck by Australia’s world-famous Perth Mint in .999 pure gold and measuring 13.9mm, you would be wise to order this coin now before prices go higher!”

This precious treasure is a “Tuvalu issue 3 Dollars denomination,” dated 2005. The coin is a proof issue. The 2007 run has a mintage “not to exceed 60,000 coins”.

The price of one coin is $99. Each coin weighs in at 1/25 ounce of gold. Which means that you’d have to buy 25 of them to get a full ounce. Which brings the price of that ounce up to $2,475.

As I am writing, gold is trading at $835 per ounce.

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Posted by J. Christoph Amberger · Filed Under Gold and Resources