Gold coins to bear UN logo
(The United Nations (UN) has licensed the minting of gold bullion coins bearing its logo to provide a “public option” world savings currency.
According to the Vancouver Examiner, Oro gold coins are hoped to contribute to making the UN better funded by 2015, with revenue rising by ten to 15 per cent.
The coins are set to be produced in Europe and then distributed globally, with any licensee able to produce such bullion under contract.
Armand Dufour of the European Bank says that he welcomes the introduction of the gold coins.
However, he goes on to add that there is a danger that if the US dollar weakens, there will be a strong move towards the Oro.
In turn this could potentially drive the value of the coin up to a level where international governments will not allow it to be circulated.
UN coins were previously made purely for commemoration in the 1970s, but they hold no monetary value.