Last week when talking to someone concerning the purchase of 2005 dated AGE's they advised that in 2006 the AGE's will be .999 Fine, is this correct?
tcore is right they plan on putting out a second set of bullion coins (different design) that are .999 fine. The AGE's will still be .917 fine.
Assuming Bush signs the bill (it's already passed the House and Senate) in 2007 they'll start the first lady series in .999 fine gold (thsese will be separate from the American Eagles). Means Martha Washington will actually officially be on a coin other than patterns finally, lol. Already saving up for the Rachel Jackson one. Should be able to afford it by the time it comes out.
It is proposed that the 2006 AGE will be .999 fine gold in order to compete with the Canadian, China, Austrian other .999 fine gold coining countries. The bid for a piece of 2.4 Billion $$ bullion market is huge. This will mark the first time in American History that we have had this pure of a coin. I do not think the mint will be producing two different purity coins..simply put the coin will not be alloyed with other metals...the cost will be the same as current maybe a small premium as they will contain the same mass (no alloy)..my concern lies within the packaging...pure gold is easily scratched..take a look at all the Maple Leaf's that have been damaged from folks trying to take them out of their container...I hope for great packaging!!! I plan on buying a set each year both proof and Uncirc..how about you?? Here is the Article: "The United States Mint intends to match and exceed world class business practices with this new 24-karat gold bullion coin," said Henrietta Holsman Fore, director of the U.S. Mint, in a statement. "There is a demand, both here and abroad, for 24-karat gold coins," she said. "We want to meet this demand by providing the highest quality and most beautiful coins in the world." According to the Mint, the global market for 24-karat bullion coins is $2.4 billion. It's clear that the government is responding to competitive pressure. As much as 60 percent of investor-grade gold coins sold internationally last year were 24-karat, with Canada's Maple Leaf piece one of the most popular. Until now, the highest grade U.S. coins have been the 22-karat American Eagle series, first introduced in the 1980s after Congress banned the sale of South African Krugerrands to protest apartheid. The Mint claims that the American Eagle accounts for 95 percent of all gold coin sales in the United States. But on the much larger international market, 24-karat pieces are more popular. Washington found itself without an entry in the field. Although they carry nominal face values, gold coins minted for investors and collectors sell immediately at prices based on the commodities markets, where gold currently sells for more than $425 an ounce. The coins will be literally worth their weight in gold. "The program will have two phases," the Mint's statement noted, "starting with an investor-grade uncirculated 24-karat gold bullion coin, followed by a 24-karat numismatic collector proof coin." No specific designs or denominations for the new coin have been announced. The Treasury Department will undergo a period of public review before releasing those details later this spring. http://usgovinfo.about.com/od/consumerawareness/a/goldprog.htm Standing Corrected: above URL confirms GDJ post. RickieB :kewl:
For me everything depends on the price. A gold commemorative proof coin from the 1980s is just as attractive to me as the proposed 2006 AGE, or a brand new maple leaf. I guess my brain is wired more for investing than collecting because as the premium goes down, my interest goes up. I have one gold maple leaf and it's a beautiful coin with a distinctly different color than the current AGE. They look good side by side because of their differences.
Rickie - there will be TWO different purity coins. This is the full paragrapgh as issued by the Mint - not a paraphrased version released by the press. The full story is - HERE
Thanks for the post..I just found the other article and posted it on my orig post...sort of pre-mature post as I read one article that said different..but found the later one I posted on first post..anyway..thats great I will collect them all... I sort of fell off the ship and went "darkside " for a moment and bought the 2002 Ducat Set from Netherlands Mint beautiful coins I must say...your pics inspired me.. RickieB
The new one of 24 K will be a piece with James E. Fraser's Buffalo and Indian Head design. It's going to cost you to round-up a herd of these Buffalos.
Hey Old Dan... where might I ask did you get this info?? Please post a link if you have it...Great!! if it holds true... RickieB
:loud: I hate it when that happens - more competition !! Just kiddin Rickie They're beautiful coins, I know you'll enjoy them - longjohns and all :thumb: