US Mints 24K Gold Coin

by Nicole Weston (RSS feed)
Jun 18th 2006 at 6:06PM

The US Mint is aiming to target both collectors and investors with their newest release: a 24-karat gold coin. It contains one ounce of 99.99% pure gold and is cast as a tribute to the popular buffalo-head nickel that was in circulation during the 1930s. The coin will be minted as a $50 piece, though it will be worth, and sold, for more. Two versions of the coin will be available: a bullion coin for investors, which will be sold to authorized buyers for coin shops, banks and other financial institutions, and a proof coin, aimed at collections. The proof coin has a higher quality strike and finer finish, both of which will add to the physical appeal of the coin over simply the gold it is made of. 300,000 proof coins will be made and sold at an initial price of $875 per coin.

Interested buyers can purchase the proof coins beginning Thursday by going to the US Mint's website.

Tags: 24-karat, coin, coins, collectors, gold, investment, investors, mint

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Pit Jun 19th 2006 4:13AM

All the American Buffalo coins will be produced at the Mint's facility in West Point, N.Y. Officials plan a ceremony on Tuesday to put the actual coins on display for the first time.