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Congress Approves .9999 Wonderful Gold Cash

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New .9999 high-quality (24 karat) 1-ounceslegal tender $50 gold cash will likely be added to the U.S. Mint's line of gold bullion coins in 2006 when President Bush signs into legislation a invoice that Congress handed in December.  The laws requires the Mint to have the cash ready to distribute by June 2006, however the coins may be prepared before then.

The laws authorizing the new .9999 high-quality gold coins was quite specific, mandating the design and even the method of packaging.  For the primary 12 months of issuance, the coins "shall bear the unique designs by James Earle Fraser, 'which appear on the 5-cent coin commonly known as the 'Buffalo nickel' or the '1913 Kind 1'."  This wording, with out particularly saying it, requires the obverse (entrance) of the cash to hold the famed Indian Head design by Fraser.  The reverse will carry the equally-famed buffalo design.

Every Indian Head-Buffalo coin is to be encased in a protecting capsule, possibly such because the capsules used by Australia's Perth Mint to protect its .9999 fine gold bullion coins, including the favored limited edition Lunar Series Gold Bullion Coins.  The protective cases "shall be readily distinguishable" from the packaging for proof coins, that are additionally licensed by the bill.

For years, proof cash have been individually encapsulated in protective cases.  Individually encapsulating bullion coins will probably be new to the U.S. Mint.  The Mint's 22-karat (.9167 high-quality) American Gold Eagles, which are the world's finest-selling gold bullion coins, are packaged twenty to a tube and are not individually encapsulated.

Production of the Indian Head-Buffalo cash can be limitless, and they are going to be marketed towards gold buyers preferring .9999 nice (24-karat) gold coins.  The U.S. Mint already has the world's greatest-selling gold bullion coins with its 22-karat (.9176 positive) Gold Eagles.  Still, there is a huge market for pure gold cash, and the brand new Indian Head-Buffalo coins will give the U.S. Mint a product for that market.  The Asian and Indian markets clearly want pure gold cash, while alloyed gold coins are more fashionable in the Western World.

Presently, the Royal Canadian Mint's .9999 positive Gold Maple Leafs are the world's finest promoting pure gold coins.  Nevertheless, the Gold Maple Leafs have fallen into disfavor with traders because of the benefit with which they're damaged.  To counter this, the Royal Canadian Mint recently introduced new packaging for the 1-ozGold Maple Leafs.

The brand new packaging for the 1-ouncesGold Maple Leafs will put the cash individually in capsules which might be suspended in credit card sizes cards, twenty-five coins to a box.  It is too early to gauge market acceptance of the brand new packaging for the Gold Maple Leafs.

Considering the popularity of the of Indian Head-Buffalo design, the U.S. Mint's new .9999 fantastic gold coins may present stiff competitors for the Gold Maple Leafs.  Fraser's designs proved to be a winner in 2001 when the U.S. Mint produced a limited number of Indian Head-Buffalo $1 silver cash sets.  The sets sold out instantly and in the present day carry costs several occasions their initial offering prices. 

The new Indian Head-Buffalo .9999 tremendous gold coins, however, will not be limited version, at least not the primary year.  The invoice permits the Mint to "change the utmost number of cash issued" in subsequent years.  Further, the bill authorizes the Mint to alter the designs on both the obverse or the reverse after the primary yr's production.

Although the U.S. Mint produces its common American Gold Eagles in 4 sizes, 1-oz, ½-oz, ¼-oz, and 1/10-oz, the brand new Indian Head-Buffalo pure gold cash will probably be minted in just one measurement: 1-ounce.  With the popular Indian Head and Buffalo designs, the Mint's new .9999 positive gold cash could quickly develop into favorites with gold coin investors.

 

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