The US Mint introduces gold coins in the market frequently for the general public. Buyers can choose from a wide assortment of coins, belonging to different centuries, from newer Presidential coins to classics like the Saint-Gaudens Double Eagle. However, these coins are available for a limited time. Therefore, investors typically research and plan a purchase well in advance.
US Gold Mint: A Brief History
During the early 1980s, gold coins, particularly the South African Krugerrand, started gaining popularity around the world. The US Congress, in order to be a part of the trend, drafted the Gold Bullion Coin Act in 1985, under President Ronald Reagan’s government. The act mandated the US Mint to produce a collection of 22-karat gold bullion, comprising of pure gold coins with fold composition of one, half, quarter, and one-tenth a troy ounce. The first US gold mint series, known as the ‘Eagles’, was issued in October 1986. The US Mint has since strived to meet the mandated supply requirement of the Eagles. The gold used for these bullions were mined in the US, and if the quantity was insufficient, it was borrowed from the US gold reserves.
US Gold Mint Mission
The United States Mint issues gold coins in the market to protect the nation’s assets and coinage. The key mission of the US Mint is to maintain an adequate volume of coinage for circulation and conduct of trade and commerce. Over the years, the US gold mint coin production has varied from 11 billion to 20 billion coins per annum. Some crucial missions of the US Mint, in the light of gold coin production, are:
• Ensuring adequate availability to the Federal Reserve
• Producing domestic bullion as well as foreign coins
• Safeguarding movement of bullion
• Designing and marketing special coinage
• Designing and selling national commemorative medals, such as the congressional gold medals
• Disbursing gold for authorized purposes
The US Mint has a specific pricing policy for numismatic gold as well as platinum coins. The prices are adjusted as regularly as once in a week, in response to altering market prices of these metals. The US Mint calculates the average price on the basis of London Fix prices for a week, starting Thursday AM of last week and concluding Wednesday AM of the present week. If the average price computed comes above or below the set increments, the gold coin prices are adjusted proportionally.
US Gold Mint: A Brief History
During the early 1980s, gold coins, particularly the South African Krugerrand, started gaining popularity around the world. The US Congress, in order to be a part of the trend, drafted the Gold Bullion Coin Act in 1985, under President Ronald Reagan’s government. The act mandated the US Mint to produce a collection of 22-karat gold bullion, comprising of pure gold coins with fold composition of one, half, quarter, and one-tenth a troy ounce. The first US gold mint series, known as the ‘Eagles’, was issued in October 1986. The US Mint has since strived to meet the mandated supply requirement of the Eagles. The gold used for these bullions were mined in the US, and if the quantity was insufficient, it was borrowed from the US gold reserves.
US Gold Mint Mission
The United States Mint issues gold coins in the market to protect the nation’s assets and coinage. The key mission of the US Mint is to maintain an adequate volume of coinage for circulation and conduct of trade and commerce. Over the years, the US gold mint coin production has varied from 11 billion to 20 billion coins per annum. Some crucial missions of the US Mint, in the light of gold coin production, are:
• Ensuring adequate availability to the Federal Reserve
• Producing domestic bullion as well as foreign coins
• Safeguarding movement of bullion
• Designing and marketing special coinage
• Designing and selling national commemorative medals, such as the congressional gold medals
• Disbursing gold for authorized purposes
The US Mint has a specific pricing policy for numismatic gold as well as platinum coins. The prices are adjusted as regularly as once in a week, in response to altering market prices of these metals. The US Mint calculates the average price on the basis of London Fix prices for a week, starting Thursday AM of last week and concluding Wednesday AM of the present week. If the average price computed comes above or below the set increments, the gold coin prices are adjusted proportionally.
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