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.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.