The E-Sylum:  Volume 8, Number 17, April 24, 2005, Article 4

NEW 24K GOLD BULLION COINS FROM U.S. MINT

If Kenneth Failor were working at the Mint today, he'd likely
be involved with its upcoming product. CNN published an
article about the U.S. Mint's newest bullion coin: "On Tuesday,
officials in Washington announced the planned introduction of
the first 24-karat gold coin in the nation's history. The piece,
set to be rolled out sometime in 2006, will boast a 99.99
percent "fineness" rating. In other words, it's almost perfectly
pure gold."

"The purpose of rolling them out, the Mint is making clear, is
to make money -- perhaps a lot of it.

"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."

"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 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."

To read the full article, see: Full Story

To read the full text of the Mint's press release, see: Full Story

  Wayne Homren, Editor

	coinbooks.org Web

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