I guess ANY gold coin is a "rare" gold coin to the MSM.

gecko109

Salvation Army gold coin donations.




Why does the mainstream media use the word "rare" so loosely when describing....in fact.....some of the most common gold coins that exist? Do they simply not "fact check" before writing up a story? Just a single call to any coin shop in the U.S. would be enough to discover that there is nothing rare about the particular coins the Salvation Army received.

Perhaps the word "rare" is intentionally used to sensationalize the story......maybe the MSM knows that the average J6P also doesnt know what constitutes "rare" in the gold coin market.

Either way, its a very cool act of generosity displayed on the parts of those who dropped these into kettles.

Wingsrule

Yes, the concept is very cool and usually makes a few headlines here in the Detroit area.

Using "rare" in the description is probably a little bit of artistic license as you mentioned, all in the name of a good cause.

Julio

Take it to mean any Gold coin put in the barrel is rare. jws

gecko109

Although it could be argued that any gold coin is indeed a rare coin....when compared to the total number of coins in existence. I would have to think the ratio is close to 10,000,000 to 1......if not higher......non-gold coins to gold coins.

secondrepublic

I agree with Gecko on this one. For your average journalist, probably any gold coin is rare. It's a little confusing, but they're not saying "it's rare to get a gold coin" -- the article says they've gotten 400 in the last 25 years -- but rather seem to be saying the coins themselves are rare. In fact, although we don't know the dates/types involved, these seem to be bullion coins.

OnlyGoldIsMoney

Let's just say the average reporter does not know any better. Clearly they mean well.

The average value of the 10 coins cited is $460 per coin. That is indeed generous and commendable.

That said, donating a 1/4 ounce gold coin gets far more attention than the same person putting 5 crisp $100 bills into the same donation pot.

leftofdial

As much as I commend anyone who drops significant amounts into the kettles, I wonder why they would elect to donate that way becuase there is no way the IRS would allow that charitable contribution deduction.

OnlyGoldIsMoney

<< <i>As much as I commend anyone who drops significant amounts into the kettles, I wonder why they would elect to donate that way becuase there is no way the IRS would allow that charitable contribution deduction. >>



Perhaps because they don't have enough deductions, even with the donation, to warrant itemizing over taking the standard deduction.

keepdachange

If they were gift wrapped how did they fit in the slot? The kettles here in NC have a coin slot that would be hard to fit a gift box in. Also, what are the chances the Salvation Army does this on it's own as a way to get the exposure each year? Not in anyway demeaning the generosity, as it could be and hopefully is genuine but it would also be a great marketing ploy by the Salvation Army as this story makes the headlines each year.

mash

<< <i>If they were gift wrapped how did they fit in the slot? The kettles here in NC have a coin slot that would be hard to fit a gift box in. Also, what are the chances the Salvation Army does this on it's own as a way to get the exposure each year? Not in anyway demeaning the generosity, as it could be and hopefully is genuine but it would also be a great marketing ploy by the Salvation Army as this story makes the headlines each year. >>



Great point

piecesofme

Also, what are the chances the Salvation Army does this on it's own as a way to get the exposure each year?

BINGO! Probably the exact same one over the last quarter century. There is no way this happens.
Rich people don't give away their money anonymously, they keep their money, that's why their rich. If they do donate it, you will know about it. Get it?
Middle class people are just trying to make ends meet and pay the bills.
Poor people are the recipients of most of what the SA currently does.

So who's droppin the coin with plenty of days left before the Holiday? The SA to draw attention to them for donations. I don't condem that, but I feel they could go about it another way, but of course that would cost advertising Dollars.
Sorry to be what may be considered cynical, but I've always prided myself on being a realist.

gecko109

I have given annonymous donations of $10 and $20 many, many, many times. Its not hard to conceive that a person who makes 20x what I make could make an annonymous donation of 20x what I donated. If you are earning $1,700,000 per year, then your 2 week paycheck....after taxes.....would be around $42,500. Whats a $400 gold coin donation to a person who pulls in $42k every 2 weeks? It would be the equivalent of a person who earns $35,000 per year making a donation of 10 bucks.

Wingsrule

Rich people don't give away their money anonymously, they keep their money, that's why their rich. If they do donate it, you will know about it. Get it?

This is not a factual statement. Many wealthy individuals make charitable donations and INSIST on anonymity.

piecesofme

This is not a factual statement. Many wealthy individuals make charitable donations and INSIST on anonymity.

many? Really? I don't deny it's done altogether. If I wasn't clear, I apologize for that. I wouldn't say many though. I think that is a definite minority who do that, not many. jmho.
Maybe this will help clear up how I feel Christmas should be viewed, since that is the "root" of what we are talking about here as I see it.

PerryHall

<< <i>Rich people don't give away their money anonymously, they keep their money, that's why their rich. If they do donate it, you will know about it. Get it?

This is not a factual statement. Many wealthy individuals make charitable donations and INSIST on anonymity. >>



Agree. Charities sell their lists of donors to other charities which is why the smart donors want to remain anonymous so they aren't inundated with solicitations from other charities. My wife once sent a check to a worthy charity and we were inundated by solicitations from dozens of other charities---every disease, every endangered species, every Indian tribe, every missionary, etc. It's obvious they got my name and address off my check and that information was added to their sucker list.

clouisejewelers

It's not a publicity stunt, somebody does actually donate a gold coin every year. The Salvation Army sells it to Abbott's in Birmingham svery year and its not the same coin.

There are some wealthy people who are generous with their money and just want to help people out. Detroit gets a bad rap from the media but this area consistently gives more to charity(based on a % of income) than the bleeding heart liberal bastions like NYC and LA.

FistFullOfDollars

Compared to the regular change that is donated a gold coin would be considered rare.

Just saying

Wingsrule

The Salvation Army sells it to Abbott's in Birmingham svery year and its not the same coin.

Thanks, CLJ. I couldn't remember which B&M was involved.

RGJohn

There was this fellow once who said that when one does charity one should not let one's right hand know what one's own left hand was doing.
Coin in kettle as one passes keeps righty ignorant.
Might have my paws switched but the sentiment is correct.

1jester

<< <i>There was this fellow once who said that when one does charity one should not let one's right hand know what one's own left hand was doing.
Coin in kettle as one passes keeps righty ignorant.
Might have my paws switched but the sentiment is correct. >>



Exactly what I wanted to say. Thank you.

CaptHenway

When I was working, I had a jeweler from down around Kankakee who bought a gold eagle every year on behalf of a customer who wanted it to drop in a Salvation Army kettle. Sold him one last December just before I retired.