Monday, June 19, 2006
The US Mint has made investing into gold just a little easier. According to a report in the New York Times the Mint will offer its first 24 Karat coin from today.
While the website of the Mint offers no information whatsoever about the new coin, the NYT tells us that the American Buffalo will have a face value of $50 and portrays an Indian chief and a bison on the other side. This design was used for the 2001 silver coin depicted here.
Buffalos are expected to be sold at gold's spot price plus a markup of about 12%, said Becky Bailey, a spokeswoman at the Mint. Maybe you will find better deals on ebay.
A high-relief, mirror-finish version known as a proof will also be made for sale to collectors. Quantities of the regular coin will be determined by demand; 300,000 of the proof version will be minted in 2006 and sold initially at a price of $875.
Posted by The Prudent Investor on 6/19/2006 07:47:00 pm