The coin is worth, and probably will always be worth, about $50 more than the spot price of gold. Gold is a store of value, in that it usually keeps up with inflation, much like a bond. I know lots of “goldbugs” think “this time is different”, but I believe it will continue to be just a store of value. Saying that, I doubt that it will pay for her first year of college since tuition is going up more than inflation. If I were to want to invest $700 now to pay for tuition in 18 years, I would invest in a low cost mutual fund instead. That has a statistically much better chance of covering her tuition bill.
This is your dad, though, so I would keep the coin safe for your daughter and thank him for the gift.
May 12th, 2009 at 7:57 pm
Judy
about $700 for a gold eagle 1 oz (based on gold prices now)
May 14th, 2009 at 8:09 am
Brittny
maybe then it will, but right now it isn’t worth much. they are fairly common and anyone can buy direct from the us treasury
May 16th, 2009 at 2:01 pm
Hilary
$50?
May 17th, 2009 at 1:48 am
Sharon
A NEW $50 coin… um, I think $50!
He is thinking it will gain value over time.
May 19th, 2009 at 12:28 pm
Lily
you can buy a proof gold buffalo for $800 from the mint. the non-proof versions are 650-700 maybe
May 21st, 2009 at 7:38 am
Darrin
around $649
May 24th, 2009 at 4:35 am
Dangelo
The coin is worth, and probably will always be worth, about $50 more than the spot price of gold. Gold is a store of value, in that it usually keeps up with inflation, much like a bond. I know lots of “goldbugs” think “this time is different”, but I believe it will continue to be just a store of value. Saying that, I doubt that it will pay for her first year of college since tuition is going up more than inflation. If I were to want to invest $700 now to pay for tuition in 18 years, I would invest in a low cost mutual fund instead. That has a statistically much better chance of covering her tuition bill.
This is your dad, though, so I would keep the coin safe for your daughter and thank him for the gift.