<< <i>Trial strikes for the 2006 Buffalo 1-ounce .9999 fine gold $50 bullion coin have been produced at the West Point Mint as the facility prepares for full-scale production. >>
Trial strikes for the 2006 Buffalo 1-ounce .9999 fine gold $50 bullion coin have been produced at the West Point Mint as the facility prepares for full-scale production.
Acting U.S. Mint Director David Lebryk announced the test production while participating in an April 6 Coin Collectors Forum in Lincoln, Neb. The forum, attended by some two-dozen collectors, was held at the Bennett Martin Public Library in Lincoln on the eve of the launch of the 2006 Nebraska quarter dollar.
Lebryk said he has already seen samples of the trial strikes for the new coins. They "are beautiful," he said. Mint officials refused to release images of the test pieces.
The Mint plans to begin selling the 24-karat gold coin sometime this summer.
Becky Bailey, director of the Mint’s Office of Public Affairs, told Coin World April 12 that a ceremonial strike event for the coin is being planned for sometime in early May. Bailey said the Mint had scheduled production of additional trial strikes during the week beginning April 16. Lebryk also discussed the three other coin programs mandated under the same act as the Buffalo gold coin: Presidential dollars, which will be introduced for circulation beginning in 2007; First Spouse gold coins, also beginning in 2007; and four commemorative 2009 Lincoln cents for the bicentennial of Lincoln’s birth.
The Mint conducts collector forums in conjunction with State quarter dollar launches to elicit collector comments on Mint programs and policies and sometimes to reveal new details about existing or future programs.
Mint officials released some comments received from collectors at the forum and the Mint staff’s response. One collector suggested that the Mint in the future strike a fractional version of the Buffalo gold bullion coins at the same size as the 5-cent coin in order to sell more of them. The legislation authorizing the production of the coin mandates the obverse and reverse designs replicate those of sculptor James Earle Fraser for the 1913 Indian Head, Bison on Mound 5-cent coin.
"Well here's another nice mess you have gotten me into" Oliver Hardy 1930
According to this article production will be unlimited!
<< <i>Production of the Indian Head-Buffalo coins will be unlimited, and they will be marketed toward gold investors who prefer .9999 fine (24-karat) gold coins. The U.S. Mint already has the world's best-selling gold bullion coins with its 22-karat (.9176 fine) Gold Eagles. Still, there is a huge market for pure gold coins, and the new Indian Head-Buffalo coins will give the U.S. Mint a product for that market. The Asian and Indian markets clearly prefer pure gold coins, while alloyed gold coins are more popular in the Western World. >>
THIS ARTICLE has more great info and states that you can trade in your current gold eagles, gold bars, krugerrands and canadian gold coins for the new buffalo gold coins!? VERY INTERESTING!
<< <i>If they sell them in 1/10 ounce sizes, I'm all over it. >>
Looks like one OZ size only. If they were the size of an old $5.00 gold coin...boy oh boy ... we'd all have a great date set...and if they were minted at all the operating mints/ assay offices in MS and PR...ooo la la ...
Mike Hayes ~~~~~~~~~~~~ Coin collecting is not a hobby, it's an obsession !
No disrepsect intended to anyone here, but personally I am really not thrilled about this coin. The Buffalo nickel is a bonafide masterpiece, but part of what makes that coin SO special is the relationship between it's design and it's scale, denomination, and composition; in contrast the very notion of the gold version is to me something akin to a picture of a painting. Worse, is that Fraser's design is almost a hundred years old - is that really the most progressive foot we have to put forward with our country's first .9999 gold coin? If so, than I think it's embarrassing.
The .999 Gold Bullion coin will sell like the Bullion Eagle. They'll make as many as you want, it's for GLOBAL consumption. It's the American .999 to compete with Canada and who ever else makes .999 Gold.
The Proof is for collectors and we'll have to see what the mintage is. The Eagle is limited to 12,000 this year, up from 10,000 last year. If they limit the Proof to 12,000, that would be good, if they get greedy and go to 20,000+, then that's not so good.
As pissed as we get at the Mint, they've done a pretty good job of balancing profits for them and collectability for collectors. My call is a high side limit of 15,000 with definitely more than 10,000 and a price of $800.
As for using the Buffalo and don't forget the Indian, I think, if done right, it'll look awesome. It's a tribute to Fraser's design. But one year is enough, for 2007 it should be something else.
<< <i>If they limit the Proof to 12,000, that would be good, if they get greedy and go to 20,000+, then that's not so good.
As pissed as we get at the Mint, they've done a pretty good job of balancing profits for them and collectability for collectors. My call is a high side limit of 15,000 with definitely more than 10,000 and a price of $800.
>>
I think even at a 20k limit, it will sell out fast and furious. They must know they have home run potential with a limited gold buffalo proof.
<< <i>No disrepsect intended to anyone here, but personally I am really not thrilled about this coin. The Buffalo nickel is a bonafide masterpiece, but part of what makes that coin SO special is the relationship between it's design and it's scale, denomination, and composition; in contrast the very notion of the gold version is to me something akin to a picture of a painting. Worse, is that Fraser's design is almost a hundred years old - is that really the most progressive foot we have to put forward with our country's first .9999 gold coin? If so, than I think it's embarrassing.
Just My $.02 -
~ Artist >>
Wow, interesting viewpoint... I disagree, but I respect your opinion......
Be Bop A Lula!! "Senorita HepKitty" "I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
Obviously there *is* a demand for a .999 bullion, otherwise the Mint wouldn't bother.
Personally, I can see why that would be the case. I have both AGEs and Maple Leaves, and the color is more appealing on the Maple leaf. Furthermore, at 3% over melt, this is probably going to be one of the cheapest way to purchase pure gold for jewelry purposes.
Personally, I find the design for the AGE reverse horrible, and I'm not a huge fan of the obverse, so I really like the idea of getting Buffalos instead.
I think there's going to be a huge frenzy on the proof - it being first year of production and all.
"The greatest productive force is human selfishness." Robert A. Heinlein
<< <i>I really don't see the need of producing the Gold Eagles and Gold Buffalo's.....
Investors care that the coin is 1 oz of gold period not how much gold is in them.....
You always see the Eagles selling for a bit more then the Maples so I don't get it.....
To me this is the mint trying to make more money period..... >>
I beg to differ. I do care about coin purity and actually prefer .9999 to .9167 and when given a choice of the of the two from the same issuing country/mint, I would always pick the pure gold even though I know they both contain 1 troy ounce.
<< <i>No disrepsect intended to anyone here, but personally I am really not thrilled about this coin. The Buffalo nickel is a bonafide masterpiece, but part of what makes that coin SO special is the relationship between it's design and it's scale, denomination, and composition; in contrast the very notion of the gold version is to me something akin to a picture of a painting. Worse, is that Fraser's design is almost a hundred years old - is that really the most progressive foot we have to put forward with our country's first .9999 gold coin? If so, than I think it's embarrassing.
Just My $.02 -
~ Artist >>
I completely agree.
My only expectation at this point is that the coin will look like a cheap knock off.
*Shudders*
I pick things up I am a collector And things, well things They tend to accumulate
It would be cool if the design on the front and back looked just like the nickel design and any additional wording (IGWT) were to be placed on the edge of the coin so that we end up with a coin that has all the esthetic desireability of the original by J.E.F. (Including the rough hewn fields).
<< <i>THIS ARTICLE has more great info and states that you can trade in your current gold eagles, gold bars, krugerrands and canadian gold coins for the new buffalo gold coins!? >>
This isn't an article, this is an advertisement. Sure you'll be able to trade your gold eagles, gold bars, krugerrands and canadian gold coins for the new coins, but not on an oz for oz straight trade. It will be the same kind of deal as if you went to a dealer today and offered to trade Krands for eagles. Sure, they'd trade. Eleven Krands for 10 gold eagles maybe.
Artist is quite right. The Buffalo dollars are disappointing because they are really scaled-up versions of the five-cent design and lack the sort of extra detail that should be present in a dollar-size coin.
Salute the automobile: The greatest anti-pollution device in human history! (Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>I really thin the mint SHOULD make a $5 gold buffalo coin, that would be WAY COOL. and more "accessible". >>
Great idea!! The half eagle is about the same size as the nickel.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Comments
Acting U.S. Mint Director David Lebryk announced the test production while participating in an April 6 Coin Collectors Forum in Lincoln, Neb. The forum, attended by some two-dozen collectors, was held at the Bennett Martin Public Library in Lincoln on the eve of the launch of the 2006 Nebraska quarter dollar.
Lebryk said he has already seen samples of the trial strikes for the new coins. They "are beautiful," he said.
Mint officials refused to release images of the test pieces.
The Mint plans to begin selling the 24-karat gold coin sometime this summer.
Becky Bailey, director of the Mint’s Office of Public Affairs, told Coin World April 12 that a ceremonial strike event for the coin is being planned for sometime in early May. Bailey said the Mint had scheduled production of additional trial strikes during the week beginning April 16.
Lebryk also discussed the three other coin programs mandated under the same act as the Buffalo gold coin: Presidential dollars, which will be introduced for circulation beginning in 2007; First Spouse gold coins, also beginning in 2007; and four commemorative 2009 Lincoln cents for the bicentennial of Lincoln’s birth.
The Mint conducts collector forums in conjunction with State quarter dollar launches to elicit collector comments on Mint programs and policies and sometimes to reveal new details about existing or future programs.
Mint officials released some comments received from collectors at the forum and the Mint staff’s response.
One collector suggested that the Mint in the future strike a fractional version of the Buffalo gold bullion coins at the same size as the 5-cent coin in order to sell more of them. The legislation authorizing the production of the coin mandates the obverse and reverse designs replicate those of sculptor James Earle Fraser for the 1913 Indian Head, Bison on Mound 5-cent coin.
BST successful dealings with:MsMorrisine, goldman86
-- Adam Duritz, of Counting Crows
My Ebay Auctions
I don't get the mag......
Kip
<< <i>Production of the Indian Head-Buffalo coins will be unlimited, and they will be marketed toward gold investors who prefer .9999 fine (24-karat) gold coins. The U.S. Mint already has the world's best-selling gold bullion coins with its 22-karat (.9176 fine) Gold Eagles. Still, there is a huge market for pure gold coins, and the new Indian Head-Buffalo coins will give the U.S. Mint a product for that market. The Asian and Indian markets clearly prefer pure gold coins, while alloyed gold coins are more popular in the Western World. >>
VERY INTERESTING!
<< <i>If they sell them in 1/10 ounce sizes, I'm all over it.
Looks like one OZ size only. If they were the size of an old $5.00 gold coin...boy oh boy ... we'd all have a great date set...and if they were minted at all the operating mints/ assay offices in MS and PR...ooo la la ...
~~~~~~~~~~~~
Coin collecting is not a hobby, it's an obsession !
New Barber Purchases
<< <i>They will probably mint so many that the worth will be only in the gold content :-( >>
I hope the proof version has a limited mintage.
Just My $.02 -
~ Artist
>>>My Collection
<< <i>it's probably sell around $900-950.
The BU certainly would not. It would more likely be priced the same as the AGE.
The .999 Gold Bullion coin will sell like the Bullion Eagle. They'll make as many as you want, it's for GLOBAL consumption. It's the American .999 to compete with Canada and who ever else makes .999 Gold.
The Proof is for collectors and we'll have to see what the mintage is. The Eagle is limited to 12,000 this year, up from 10,000 last year. If they limit the Proof to 12,000, that would be good, if they get greedy and go to 20,000+, then that's not so good.
As pissed as we get at the Mint, they've done a pretty good job of balancing profits for them and collectability for collectors. My call is a high side limit of 15,000 with definitely more than 10,000 and a price of $800.
As for using the Buffalo and don't forget the Indian, I think, if done right, it'll look awesome. It's a tribute to Fraser's design. But one year is enough, for 2007 it should be something else.
<< <i>If they limit the Proof to 12,000, that would be good, if they get greedy and go to 20,000+, then that's not so good.
As pissed as we get at the Mint, they've done a pretty good job of balancing profits for them and collectability for collectors. My call is a high side limit of 15,000 with definitely more than 10,000 and a price of $800.
>>
I think even at a 20k limit, it will sell out fast and furious. They must know they have home run potential with a limited gold buffalo proof.
<< <i>No disrepsect intended to anyone here, but personally I am really not thrilled about this coin. The Buffalo nickel is a bonafide masterpiece, but part of what makes that coin SO special is the relationship between it's design and it's scale, denomination, and composition; in contrast the very notion of the gold version is to me something akin to a picture of a painting. Worse, is that Fraser's design is almost a hundred years old - is that really the most progressive foot we have to put forward with our country's first .9999 gold coin? If so, than I think it's embarrassing.
Just My $.02 -
~ Artist >>
Wow, interesting viewpoint... I disagree, but I respect your opinion......
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
09/07/2006
Investors care that the coin is 1 oz of gold period not how much gold is in them.....
You always see the Eagles selling for a bit more then the Maples so I don't get it.....
To me this is the mint trying to make more money period.....
Personally, I can see why that would be the case. I have both AGEs and Maple Leaves, and the color is more appealing on the Maple leaf. Furthermore, at 3% over melt, this is probably going to be one of the cheapest way to purchase pure gold for jewelry purposes.
Personally, I find the design for the AGE reverse horrible, and I'm not a huge fan of the obverse, so I really like the idea of getting Buffalos instead.
I think there's going to be a huge frenzy on the proof - it being first year of production and all.
Robert A. Heinlein
<< <i>I really don't see the need of producing the Gold Eagles and Gold Buffalo's.....
Investors care that the coin is 1 oz of gold period not how much gold is in them.....
You always see the Eagles selling for a bit more then the Maples so I don't get it.....
To me this is the mint trying to make more money period..... >>
I beg to differ. I do care about coin purity and actually prefer .9999 to .9167 and when given a choice of the of the two from the same issuing country/mint, I would always pick the pure gold even though I know they both contain 1 troy ounce.
<< <i>No disrepsect intended to anyone here, but personally I am really not thrilled about this coin. The Buffalo nickel is a bonafide masterpiece, but part of what makes that coin SO special is the relationship between it's design and it's scale, denomination, and composition; in contrast the very notion of the gold version is to me something akin to a picture of a painting. Worse, is that Fraser's design is almost a hundred years old - is that really the most progressive foot we have to put forward with our country's first .9999 gold coin? If so, than I think it's embarrassing.
Just My $.02 -
~ Artist >>
I completely agree.
My only expectation at this point is that the coin will look like a cheap knock off.
*Shudders*
I am a collector
And things, well things
They tend to accumulate
<< <i>THIS ARTICLE has more great info and states that you can trade in your current gold eagles, gold bars, krugerrands and canadian gold coins for the new buffalo gold coins!? >>
This isn't an article, this is an advertisement. Sure you'll be able to trade your gold eagles, gold bars, krugerrands and canadian gold coins for the new coins, but not on an oz for oz straight trade. It will be the same kind of deal as if you went to a dealer today and offered to trade Krands for eagles. Sure, they'd trade. Eleven Krands for 10 gold eagles maybe.
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
BST successful dealings with:MsMorrisine, goldman86
<< <i>I think the proof would be awesome if they did it with a matte finish instead of mirrors. >>
How about if they did both proofs?
<< <i>I really thin the mint SHOULD make a $5 gold buffalo coin, that would be WAY COOL. and more "accessible". >>
Great idea!! The half eagle is about the same size as the nickel.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire