I am wondering why has the world agreed that an ounce of gold is worth 50 U.S. dollars?
Even in other currencies this price stamped on the one ounce gold coin holds true. Like the chinese panda, 500 yuan which is basically, approximately 50 USD. And the silver ounce is worth 5 USD... or similare amounts in other currencies... if you stack, you know this... it's like price hasn't moved since the 1940's... what do the banks and governments know that we don't? Are they planning to confiscate it all for that amount for each coin?
Or would they just confiscate the gold and let us peasants keep our silver...?
Those are bullion coins. No one with half a brain will spend a $50 gold eagle at face value. The coins are not meant to be spent. They are meant as a revenue generator for the US Mint.