U.S. MINT TO STRIKE NEW BUFFALO GOLD COINS
On Tuesday, June 20, 2006, the United States Mint branch at West Point which is used to strike or mint specail coins will produce the Nation's first 24-karat, pure gold (.9999% fineness) one-ounce coin, the American Buffalo. The special gold coin is being minted in both investor bullion and collectible proof versions.
As designated by Congress and the President, the United States Mint American Buffalo 24-Karat Gold Bullion and Proof Coins will take their design from the revered
Buffalo nickel of 1913. That iconic
James Earle Fraser image of an American bison will grace the reverse (tails side), and Fraser's classic design of an American Indian will be featured on the obverse (heads side). The American Buffalo 24-karat Gold Coin will have inscriptions of the coin's weight, denomination and gold content incused on the reverse in the design area commonly known as the "grassy mound." The inscriptions read "$50," "1 OZ" and ".9999 FINE GOLD."
The United States Mint will begin taking orders for the bullion version on Monday, June 19th, and proof versions on Thursday, June 22, 2006. The United States Mint intends to produce the new American Buffalo 24-karat Gold Bullion Coins for both domestic and foreign investors, coin and precious metal dealers, banks, brokerage firms and other companies, who will obtain them through Authorized Purchasers. The United States Mint approves Authorized Purchasers after ensuring that they have met rigorous standards. To find an Authorized Purchaser or dealer in your area, call 1-800-USA-MINT (872-6468). The new bullion coins will be priced according to the "spot price" on the daily precious metals market plus a small premium.
There will be a mintage limit of up to 300,000 for the American Buffalo 24-Karat Proof Coins. Customers may order the American Buffalo 24-Karat Gold Proof Coins from the United States Mint's web site at
https://www.usmint.gov or by calling 1-800-USA-MINT (872-6468), starting June 22, 2006, at noon. There will be a limit of 10 proof coins, per order, per household. The price for the American Buffalo 24-Karat Proof Coin will be $875. And this price might be adjusted should the price of gold near that level.
The United States Mint is also the world's largest manufacturer of 22-karat (91.67% fineness) gold bullion coins, the American Eagles, as well as Silver and Platinum American Eagle Bullion Coins. The United States Mint's American Eagle 22-Karat Gold Bullion and Proof programs will continue.
The Buffalo coins, while being bullion coins, will also be collectible coins and may have a higher market value because of their limited production. Investors wanting to own gold strictly for the metal's value should stick with American Eagles, the other gold coins currently minted by the
Posted 06/13/2006 4:10 pm
