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New Gold Coin Plan Proposed by (US) Government
Kramer, D
Am. Met. Mark. Vol. 94, no. 10, pp. 5, 10. 15 Jan. 1986
The White House and the Treasury are proposing that the US gold
reserves be permitted to be used in the minting of gold bullion
coins, which would require a change in the recently passed gold
coin law. US gold producers are upset over the prospect that the
prohibition, which they succeeded in getting added to the bullion
coin measure passed last year, could be thwarted through
administration lobbying. The producers and the Reagan
administration agree that the chief motivator for using the
reserves would be to help in deficit reduction, a goal that has
been given added impetus with passage of the Gramm-Rudman deficit
reduction act. The gold coin measure, as it stands, requires that
all gold used in minting the coins be obtained from "newly mined
domestic sources". (News Brief).
 Descriptors: Gold | Markets | United States | Legislation
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