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New gold coin for US gets backing

January 11, 1982


The President's top economic adviser and the Gold Commission Friday backed the creation of a new gold coin, the first minted in the United States since 1933, but opposed a return to the gold standard. The proposed coin would not carry a face value, but would fluctuate along with the volatile world price of gold bullion.

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Murray Weidenbaum, chairman of the President's Council of Economic Advisers, in a written statement said, ''I find myself supporting. . .Treasury circulation of gold coins."