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Archive for Monday, October 31, 2011

25 years ago: National, local demand strong for new gold coin

October 31, 2011

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From the Lawrence Daily Journal-World for Oct. 31, 1986:

As in the rest of the nation, people in the Lawrence area were clamoring for the newly-released "Eagle," the first gold coin minted in the United States since the 1930s. The coins had a face value of $50, $25, $10, and $5, but they were selling at the market price of gold plus fees charged by the U.S. Mint and distributors. The gold content ranged from one-tenth of an ounce up to one ounce. The one-ounce coin was retailing for about $450 in the Lawrence area. "We've had all kinds of requests," said Dean Schmidt of the House of Stuart LTD, a Tonganoxie coin store. "A lot of people I would never expect to buy gold are ordering it." He added that he expected the "initial hysteria" to die down in the next four weeks.

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