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NEWS ABOUT YOU AND YOUR MONEY Going for the gold
(MONEY Magazine) – South Korea is proving to be a canny marketer of gold coins. The first edition of its minting for the 1988 Summer Olympics, to be held in Seoul, was introduced in March and has already drawn strong collector interest. Object of the enthusiasm: the first one-ounce Olympic gold coin. All previous coins were half an ounce or smaller. What's more, the Koreans are minting only 120,000 of them, divided among four limited editions. This total is barely 20% of all the gold coins minted for the 1984 Los Angeles Olympic games. Rare half-ounce editions from L.A. are now valued at more than twice their issue price of $350. The Koreans are using their one-ounce coins as teasers for less glittering offerings. To get at the instantly rare one ounces, collectors have to buy sets that include either a half-ounce gold coin or four silver coins. The all- gold set now sells for $1,465 at coin dealers nationwide. All-silver sets, at $120, are no bargain. More than a million of them will be issued -- silver with a distinctly cloudy lining. |
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