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Congress Approves.9999 Fine Gold Coins
New.9999 fine (24 karat) 1-oz legal tender $50 gold coins will be added to the United States Mint's line of gold bullion coins in 2006 when President Bush indications into law a bill that Congress passed in December. The legislation requires the Mint to have the coins ready to disperse by June 2006, but the coins might be ready prior to then.

The legislation licensing the brand-new.9999 great gold coins was quite specific, mandating the design and even the technique of product packaging. For the first year of issuance, the coins "shall bear the initial 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, requires the obverse (front) of the coins to carry the famed Indian Head design by Fraser. The reverse will bring the equally-famed buffalo design.

Each Indian Head-Buffalo coin is to be encased in a protective capsule, perhaps such as the pills utilized by Australia's Perth Mint to protect its.9999 great gold bullion coins, consisting of the popular limited edition Lunar Series Gold Bullion Coins. The protective cases "shall be readily distinguishable" from the packaging for evidence coins, which are also licensed by the costs.

For many years, evidence coins have been individually encapsulated in protective cases. 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 best-selling gold bullion coins, are packaged twenty to a tube and are not separately encapsulated.

Production of the Indian Head-Buffalo coins will be endless, and they will be marketed toward gold financiers who prefer.9999 great (24-karat) gold coins. The United States Mint already has the world's very popular gold bullion coins with its 22-karat (.9176 fine) Gold Eagles. Still, there is a big market for pure gold coins, and the new Indian Head-Buffalo coins will provide the U.S. Mint an item for that market. The Indian and asian markets plainly prefer pure gold coins, while alloyed gold coins are more popular in the Western World.

Currently, the Royal Canadian Mint's.9999 great Gold Maple Leafs are the world's finest selling pure gold coins. However, the Gold Maple Leafs have fallen under disfavor with investors because of the ease with which they are damaged. To counter this, the Royal Canadian Mint just recently presented brand-new product packaging for the 1-oz Gold Maple Leafs.

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