New .9999 dustlike (24 karat) 1-oz legal tender $50 gold coins module 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 ready to distribute by June 2006, but the coins may be ready before then.
The legislation authorizing the newborn .9999 dustlike gold coins was quite specific, mandating the design and even the method of packaging. For the prototypal year of issuance, the coins \"shall bear the original designs by James Earle Fraser, 'which appear on the 5-cent coin commonly referred to as the 'Buffalo nickel' or the '1913 Type 1'.\" This wording, without specifically saying it, calls for the obverse (front) of the coins to circularize the famed Amerindic Head design by Fraser. The reverse module circularize the equally-famed buffalo design.
Each Amerindic Head-Buffalo coin is to be encased in a protective capsule, possibly such as the capsules used by Australia's Perth Mint to protect its .9999 dustlike gold bullion coins, including the popular 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 cases. Individually encapsulating bullion coins module be newborn to the U.S. Mint. The Mint's 22-karat (.9167 fine) American Gold Eagles, which are the world's best-selling gold bullion coins, are packaged twenty to a tube and are not individually encapsulated.
Production of the Amerindic Head-Buffalo coins module be unlimited, and they module be marketed toward gold investors who favour .9999 dustlike (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. Still, there is a huge market for clean gold coins, and the newborn Amerindic Head-Buffalo coins module wage the U.S. Mint a product for that market. The Asian and Amerindic markets clearly favour clean gold coins, while alloyed gold coins are more popular in the Western World.
Presently, the Royal river Mint's .9999 dustlike Gold Maple Leafs are the world's best selling clean gold coins. However, the Gold Maple Leafs have fallen into disfavor with investors because of the assist with which they are damaged. To counter this, the Royal river Mint recently introduced newborn packaging for the 1-oz Gold Maple Leafs.
The newborn packaging for the 1-oz Gold Maple Leafs module 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 market acceptance of the newborn packaging for the Gold Maple Leafs.
Considering the popularity of the of Amerindic Head-Buffalo design, the U.S. Mint's newborn .9999 dustlike gold coins could wage stiff competition 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 Amerindic Head-Buffalo $1 silver coins sets. The sets sold out immediately and today circularize prices several times their initial offering prices.
The newborn Amerindic Head-Buffalo .9999 dustlike gold coins, however, module not be limited edition, at least not the prototypal year. The bill permits the Mint to \"change the maximum number of coins issued\" in subsequent years. Further, the bill authorizes the Mint to change the designs on either the obverse or the reverse after the prototypal year's production.
Although the U.S. Mint produces its popular American Gold Eagles in four sizes, 1-oz, ½-oz, ¼-oz, and 1/10-oz, the newborn Amerindic Head-Buffalo clean gold coins module be minted in only one size: 1-ounce. With the popular Amerindic Head and Buffalo designs, the Mint's newborn .9999 dustlike gold coins could apace embellish favorites with gold coin investors.