What We Buy

Gold Coins Join Price Spiral NEW YORK (AP) (3-21-68) “Ten years ago the wholesale price for a $20 gold piece was $38,” says coin dealer Dan Messer. “Now it’s . . . take your pick, guess.” The speculative fever that has swept the world’s gold markets MESSER cited the “European feeling” as being behind much of the desire for holding gold coins. “Having gold in Europe is very important,” he says. “A lot of people got out of Germany because they had gold coins to use as barter. This feeling of having gold coins in one’s possession represents a certain security. And the time may come when an American can use a gold coin to buy something while his paper money is worthless. A lot of people are buying them as hedges against runaway inflation.” It has been illegal since 1933 to hold gold bullion, although the “Gold Act” later was modified to exclude gold coins.