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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 ready to distribute by June 2006, but the coins might be ready ahead of then.

The legislation authorizing the new .9999 fine gold coins was rather specific, mandating the design and even the method of packaging. For the 1st year of issuance, the coins "shall bear the original designs by James Earle Fraser, 'which seem on the 5-cent coin typically referred to as the 'Buffalo nickel' or the '1913 Type 1'." This wording, without particularly saying it, calls for the obverse (front) of the coins to carry the famed Indian Head style by Fraser. The reverse will carry the equally-famed buffalo design.

Each 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, including 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 situations. 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 greatest-promoting 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. The U.S. Mint currently has the world's finest-promoting gold bullion coins with its 22-karat (.9176 fine) Gold Eagles. Nevertheless, there is a huge marketplace for pure gold coins, and the new Indian Head-Buffalo coins will give the U.S. Mint a solution for that industry. The Asian and Indian markets obviously favor pure gold coins, although alloyed gold coins are much more common in the Western Planet.

Presently, the Royal Canadian Mint's .9999 fine Gold Maple Leafs are the world's very best promoting pure gold coins. However, the Gold Maple Leafs have fallen into disfavor with investors due to the fact of the ease with which they are damaged. To counter this, the Royal Canadian Mint lately introduced new packaging for the 1-oz Gold Maple Leafs.

The new packaging for the 1-oz Gold Maple Leafs will place the coins individually in capsules that are suspended in credit card sizes cards, twenty-5 coins to a box. It is as well early to gauge marketplace acceptance of the new packaging for the Gold Maple Leafs.

Considering the popularity of the of Indian Head-Buffalo style, the U.S. Mint's new .9999 fine gold coins could provide stiff competition for the Gold Maple Leafs. Fraser's designs proved to be a winner in 2001 when the U.S. Mint developed a restricted quantity of Indian Head-Buffalo $1 silver coins sets. The sets sold out quickly and these days carry rates a number of times their initial providing costs.

The new Indian Head-Buffalo .9999 fine gold coins, even so, will not be limited edition, at least not the very first year. The bill permits the Mint to "adjust the highest number of coins issued" in subsequent years. Further, the bill authorizes the Mint to modify the designs on either the obverse or the reverse right after the 1st year's production.

Despite the fact that the U.S. Mint produces its popular American Gold Eagles in four sizes, 1-oz, -oz, -oz, and 1/ten-oz, the new Indian Head-Buffalo pure gold coins will be minted in only 1 size: 1-ounce. With the well-liked Indian Head and Buffalo patterns, the Mint's new .9999 fine gold coins could swiftly turn out to be favorites with gold coin investors. best how to buy gold