U.S. Mint Giving 'Gold Bugs' a New Option

[NVMojo]

(funny to do a gold coin with a noble Indian and buffalo on it when so many Indians were slaughtered for gold out west and American Indians today are not compensated for the gold extracted by foreign mining companies ...)

Tuesday, June 20, 2006; Page D01

Investors craving pure gold now have an American supplier: The U.S. Mint plans to unveil today the nation's first 24-karat gold coin at an official strike ceremony at its West Point, N.Y., facility.



Modeled on the traditional buffalo nickel, the American Buffalo coin has a buffalo on one side and a Native American on the other. It comes in two versions, both stamped with a $50 face value but worth substantially more because they are made of pure gold.

A "proof" version with a high-relief, mirror finish aimed at collectors will sell for $800, while the less flashy bullion version of the coin -- targeted at investors known as "gold bugs" -- will retail for the price of an ounce of gold plus a 5 to 7.5 percent markup to cover the cost of making and selling it. The $50 face value is symbolic and set by Congress, just as most commemorative silver coins sold by the mint have a face value of $1 but are sold for $35 or more because of their silver content.

more...

http://www.washingtonpost.com/wp-dyn/content/article/2006/06/19/AR2006061901187.html

[benburch]

1. I want one.

Or rather two so I can mount them for display.

That is one pretty coin!

[Sammy Pepys]

2. I want buy some old British Sovereigns...

I just think they're cool. They make me think of Sherlock Holmes.

[CountAllVotes]

3. they are selling coins too

However, the proofs which are now for sale are a great investment. They are striking only 300,000 and that is it. :D

I want one too! www.usmint.gov ...

:kick:

[CountAllVotes]

4. yep both coins and proofs!

I was reading a discussion group I found on this and they were saying that the coin selling for ~$600 right now is being pre-sold for as much as $1100! Wow! :crazy: People are writing about being on hold for hours on end trying to get through to the U.S. Mint (www.usmint.gov) - website down, etc. Gold Fever!! :D

They are figuring the proof which is as of this writing is still for sale on the U.S. Mint's website will be sold out very soon (like maybe today?). This is the only place that you will be able to or can buy a proof of this particular gold coin for $800.00. Initially, the U.S. Mint was saying it would cost $875.00 but it was repriced being the price of gold has recently dropped *whew just in time*. :)

http://cdn.news.aol.com/aolnews_photos/06/01/20060620181309990001

I want one too!

[scholarsOrAcademics]

5. Gold Warriors

the devil is in the details,true of a lot of things,including
gold as I've just recently learned. I have been one of those
to ignore gold as being of interest only to speculators. The
Seagrave book, 2003, shows just how much of a swamp history
has been since 1945. a quote:
(Meanwhile),the 'black' gold would serve as a reserve asset,
bolstering the prime banks of Allied countries, strengthing
the governments of those nations. As a safeguard, the bullion
placed in those banks was carefully controlled; strict limits
were placed on the use that could be made of the gold (a
process called earmarking). This enabled Washington to bring
pressure, from time to time, on those governments,central
banks and prime banks. Put simply, so long as a country and
its leaders cooperated, and remained allied to the United
States in the Cold War, derivatives of the sleeping bullion
could be used for patronage through political slush funds. 
page 5

[scholarsOrAcademics]

7. openers.Katherin Ann Fitts and HUD

for further research.
http://www.solari.com/learn/articles_missingmoney.htm

[scholarsOrAcademics]

8. opened. Catherine Austin Fitts mortage sub-market

what I remember, from reading her account 6 months ago, is it does not pay to do your best to help the government recoup lost money.

[Bamboo]

6. In Gold We Trust.

Dealers clogged up the ordering system so they could resell on eBay.The mint sorted them out so I got my proof coin for list price in three weeks.As part of the new law which includes the Buffalo there will also be general circulation base metal coins showing all the first ladies.I would like to thank those responsible for this law and also thank Colin Powell for getting me to give up television.

http://en.wikipedia.org/wiki/Presidential_$1_Coin_Act_of_2005

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=13730&langId=-1