Congress Approves .9999 Fine Gold Coins

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New .9999 fine (24 karat) 1-oz legal tender $50 gold coins will be added to the U.S. Mint's line of gold bullion coins in 2006 when President Bush signs into law a bill that Congress passed in December. The legislation calls for the Mint to have the coins prepared to distribute by June 2006, but the coins might be prepared ahead of then.

The legislation authorizing the new .9999 fine gold coins was fairly specific, mandating the style and even the strategy of packaging. For the first year of issuance, the coins "shall bear the original designs by James Earle Fraser, 'which appear on the five-cent coin commonly referred to as the 'Buffalo nickel' or the '1913 Sort 1'." This wording, with no especially saying it, calls for the obverse (front) of the coins to carry the famed Indian Head design by Fraser. The reverse will carry the equally-famed buffalo design.

Each Indian Head-Buffalo coin is to be encased in a protective capsule, possibly such as the capsules utilized by Australia's Perth Mint to safeguard its .9999 fine gold bullion coins, including the well-liked limited edition Lunar Series Gold Bullion Coins. The protective situations "shall be readily distinguishable" from the packaging for proof coins, which are also authorized by the bill.

For years, proof coins have been individually encapsulated in protective instances. Individually encapsulating bullion coins will be new to the U.S. Mint. To get different interpretations, you should check-out: cosmetic packaging design. The Mint's 22-karat (.9167 fine) American Gold Eagles, which are the world's best-promoting gold bullion coins, are packaged twenty to a tube and are not individually encapsulated.

Production of the Indian Head-Buffalo coins will be unlimited, and they will be marketed toward gold investors who favor .9999 fine (24-karat) gold coins. The U.S. Mint already has the world's best-selling gold bullion coins with its 22-karat (.9176 fine) Gold Eagles. Nevertheless, there is a enormous marketplace for pure gold coins, and the new Indian Head-Buffalo coins will give the U.S. Mint a solution for that market place. The Asian and Indian markets clearly choose pure gold coins, while alloyed gold coins are more popular in the Western World.

Presently, the Royal Canadian Mint's .9999 fine Gold Maple Leafs are the world's greatest selling pure gold coins. However, the Gold Maple Leafs have fallen into disfavor with investors since of the ease with which they are broken. To counter this, the Royal Canadian Mint not too long ago introduced new packaging for the 1-oz Gold Maple Leafs.

The new packaging for the 1-oz Gold Maple Leafs will place the coins individually in capsules that are suspended in credit card sizes cards, twenty-5 coins to a box. It is also early to gauge market place acceptance of the new packaging for the Gold Maple Leafs.

Taking into consideration the popularity of the of Indian Head-Buffalo design, the U.S. Mint's new .9999 fine gold coins could supply stiff competitors for the Gold Maple Leafs. Fraser's styles proved to be a winner in 2001 when the U.S. Mint produced a limited quantity of Indian Head-Buffalo $1 silver coins sets. The sets sold out instantly and nowadays carry rates several occasions their initial providing costs.

The new Indian Head-Buffalo .9999 fine gold coins, even so, will not be limited edition, at least not the 1st year. The bill permits the Mint to "change the maximum quantity of coins issued" in subsequent years. Further, the bill authorizes the Mint to change the designs on either the obverse or the reverse following the very first year's production.

Even though the U.S. Discover additional info on an affiliated essay - Visit this web page: cosmetic packaging. Mint produces its popular American Gold Eagles in four sizes, 1-oz, -oz, -oz, and 1/10-oz, the new Indian Head-Buffalo pure gold coins will be minted in only one size: 1-ounce. With the common Indian Head and Buffalo styles, the Mint's new .9999 fine gold coins could swiftly become favorites with gold coin investors.