Gold coins have been a prime form of investment ever since they were first introduced in the trade market. Unlike most forms of investments such as company stocks, business ventures, currencies, gold coins were considered to be more secure investments which had more stable values.
To answer the need for such form of investments, the United States Mint introduced the American Eagle coins in 1986. Such coins had 91.67% gold purity and were considered to be among the most traded coins around the globe ever since. However, as more and more people have developed a certain interest to invest in gold coins, various countries have created more gold concentrated coins. As such, many investors were then opting for the Canadian Gold Maple Leaf and other foreign gold bullion coins which offer 24-karat.
The Gold Coin Distribution
To cater to the demands of the 24-karat gold bullion coins, the United States Mint released its first line of .9999 fine 24-karat gold coins in 1996. Such were introduced in the market following the Presidential $ 1 Coin Act aka Public Law 109 -145 that was issued on December 22, 2005.
The awaited release of the American Buffalo coins transpired on June 20, 2006, after the coins were circulated among notable coin and precious metal dealers, and banks nationwide. As for the prime coin collectors who are opting for the American Buffalo Gold proof coin, they were allowed to purchase the coin on June 22. However, foreign investors who ordered via shipment were allowed to purchase the coin only on July 13 of that same year .
Basically, the American Buffalo coins are currently being struck at the West Point Mint, New York. Such coins came out in a $ 50 denomination with a corresponding weight of 1.0001 troy oz.
Relatively competitive with the other 24-karat foreign coins, the initial price of the Buffalo gold coin was $ 800 in 2006. In 2007, the value increased by as much as a hundred and the proof coin was then priced at $ 899.95. This year, the gold coin is approximated to be worth $ 950. In addition to that, the Buffalo coins will also be offered in $ 5, $ 10, and $ 25 face value coins. Each of which will be minted with 1/10 oz, 1/4 oz, and 1/2 oz of gold respectively.
Based on the website of the United States Mint, the mint mark "W" appears on the obverse side of American Buffalo Gold coins in proof versions. With this new line of 24-karat gold coins, the US government hopes to increase US gold trade and sales by as much as thirty percent over its original 60% share in the world gold market.
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Source by Azman Abdul Aziz
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