Pure gold coins almost here

Alex Cohen Jun 21, 2006


MARK AUSTIN THOMAS: The first ever pure gold coin has been unveiled by the US Mint. It goes on sell tomorrow. Alex Cohen says buyers are already lining up to get a piece of history — or just a good investment.

ALEX COHEN: The new coin will contain one ounce of 24 karat gold and come in two versions, one minted for investors and one for collectors.

Both coins feature the same design: a replica of the famed 1913 nickel which pictured a buffalo on one side and the profile of a Native American on the other.

Joyce Harris is with the U.S. Mint

JOYCE HARRIS: The denomination on the coin is a $50 gold coin. However we are finalizing as we speak the price of the coin.

Harris says collectors can expect an initial price of roughly $800 when the coin goes on sale Thursday.

Analysts say the timing for a gold coin is good. The price of gold hit a 26-year high last month at $732 per ounce.

I’m Alex Cohen for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.