Congress Approves .9999 Fine Gold Coins

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 distinct, mandating the style and even the approach of packaging. For the first year of issuance, the coins "shall bear the original styles by James Earle Fraser, 'which appear on the 5-cent coin generally referred to as the 'Buffalo nickel' or the '1913 Kind 1'." This wording, with no specifically 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. Every Indian Head-Buffalo coin is to be encased in a protective capsule, possibly such as the capsules employed by Australia's Perth Mint to shield its .9999 fine gold bullion coins, such as the common limited edition Lunar Series Gold Bullion Coins. The protective cases "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. The Mint's 22-karat (.9167 fine) American Gold Eagles, which are the world's very best-selling 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. Discover further on our affiliated link - Click here: http://myprivatebullion.com/ . The U.S. Mint already has the world's very best-selling gold bullion coins with its 22-karat (.9176 fine) Gold Eagles. Still, there is a enormous market place for pure gold coins, and the new Indian Head-Buffalo coins will give the U.S. Mint a product for that market. Visit http://myprivatebullion.com/ to learn the reason for it. The Asian and Indian markets obviously favor pure gold coins, although alloyed gold coins are a lot more common in the Western Globe. Presently, the Royal Canadian Mint's .9999 fine Gold Maple Leafs are the world's very best selling pure gold coins. Nevertheless, the Gold Maple Leafs have fallen into disfavor with investors simply because of the ease with which they are damaged. 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 put the coins individually in capsules that are suspended in credit card sizes cards, twenty-five coins to a box. It is too early to gauge marketplace acceptance of the new packaging for the Gold Maple Leafs. Contemplating the reputation of the of Indian Head-Buffalo design, the U.S. Mint's new .9999 fine gold coins could give stiff competition for the Gold Maple Leafs. Fraser's styles proved to be a winner in 2001 when the U.S. Mint created a limited quantity of Indian Head-Buffalo $1 silver coins sets. The sets sold out quickly and right now carry prices numerous times their initial supplying prices. The new Indian Head-Buffalo .9999 fine gold coins, nevertheless, will not be restricted edition, at least not the 1st year. The bill permits the Mint to "change the optimum number of coins issued" in subsequent years. Further, the bill authorizes the Mint to alter the designs on either the obverse or the reverse following the first year's production. Even though the U.S. Mint produces its common 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 a single size: 1-ounce. In case people wish to get more on http://myprivatebullion.com/ , we recommend many resources people should investigate. With the well-known Indian Head and Buffalo patterns, the Mint's new .9999 fine gold coins could quickly turn out to be favorites with gold coin investors..