Expert: PAPAJACK - 3/28/2008

Question
I have this one sided gold coin and i cant quite figure out what its value is or any info on it. On the top it says 1789 1st president 1797, and on the bottom of the coin it says George Washington. The coin on the left hand side also has some kind of intitals that i think say "K.J.Co", and on the back it says "18 karat 1/2 oz troy presidential series edition 1."

Answer
Hello Justin,                                 

This is one of the countless bullion pieces produced.

Its actual value is tied to the current price of one ounce of Gold.

They are made in rounds and rectangles (bars) then sold to the public at a premium over the spot market. All I have seen are Proof Condition, all are 99.9% pure gold.

Some are made using coin designs and I have seen tractors presidents, company logos etc. They are categorized as gold medals, Art Bars (or rounds) and as I said trade at the current price of gold. Some rare metallic art sell at a higher price but most are produced in the millions and carry no numismatic premium. Dealers are selling them about $20 over the spot market price.
 

For bullion any sale price above the actual precious metal content is decided between the buyer and seller. Unless you really love the artwork on these bullion items do not overpay. Many were being bought at the gold value and sold to be melted since gold is on the rise. This may cause a limited edition art bar to slowly go up in value but only to bullion Art Collector. This year gold has gone from about $600 to $980 dollars an ounce but in the past week it dropped a bit.

If there any more information you require on this question just ask.

Thank You and Good Luck

PapaJack