Program Expanded to Include Uncirculated Coins, Fractional Weights

Washington – The United States Mint announced today that it will begin accepting orders for fractional weights of the American Buffalo Gold Coin, now available in proof and uncirculated versions, on July 22, at 12 noon Eastern Time.

Both versions of the coin will be offered in four sizes-one ounce ($50 denomination), one-half ounce ($25 denomination), one-quarter ounce ($10 denomination) and one-tenth ounce ($5 denomination)-as well as in four-coin sets that contain one coin in each size.

In 2006, the United States Mint introduced a proof version of the American Buffalo Gold Coin containing one ounce of 24-karat (.9999) gold. Based on market research, the Secretary of the Treasury authorized the United States Mint to strike and issue fractional denominations of the coin in proof and uncirculated versions.

Both the proof and uncirculated American Buffalo Coins feature designs based on the classic 1913, Type I Buffalo nickel, by James Earle Fraser. Depicted on the obverse is the striking image of a Native American in profile. An American Buffalo-also known as the bison-graces the coins’ reverse. Inscriptions on the coins’ obverse include the “W” mintmark of the United States Mint at West Point, the year and the word “Liberty.” Inscriptions on the reverse include the face value and weight.

Each coin is encapsulated in protective plastic and mounted in an elegant, custom-designed hardwood presentation case. A Certificate of Authenticity is included.

Mintage and product limits for both the American Buffalo Gold Proof and Uncirculated Coins will be determined by customer demand. Pricing for all options is listed below. (more…)

By: Peter J. Cooper

Investors are being won over to the case for precious metals on a daily basis, and the case against this asset class is also weakening by the day. Time then to consider how to gear up to achieve maximum returns in this asset class, albeit with higher risk.

With the UK’s second largest bank, Royal Bank of Scotland predicting a stock market and credit crash within the next three months, it is hardly surprising that the bank’s latest fund for expatriates has a heavy weighting for gold. The ongoing geopolitical tensions between Israel and Iran are also reason enough for nervous investors to seek refuge in this traditional safe haven asset.

Royal Bank of Scotland has given gold a 25 per cent weighting in its latest Autopilot capital guaranteed deposit account targeted at UAE expatriate customers. Performance is weighted equally across four sectors: emerging equities, developed equities, property and gold. The new fund will track performance of the four sectors when rising, and divert to cash when a falling trend is identified, so gold could be its sole investment class.

The role of gold in this new account is bound to raise eyebrows and comes as the bank is warning customers to expect turmoil in equity and credit markets over the next three months, an unusal statement for the second largest UK bank. Time indeed for UAE investors to consider a little diversification into precious metals.

This column has recently presented quite a detailed case for investment in gold and silver both on the grounds of the supply and demand imbalance in the market, and because speculative interest is likely to build in an increasingly inflationary global economic environment.

Buying bullion or coins and storing them is one approach. But what if investors want to gear up to achieve maximum leverage against the price movements that seem highly likely in gold and even more so in silver? (more…)

By JONATHAN CHENG

HONG KONG — At $800 an ounce, the golden bathroom sink had to go. At $1,000, say goodbye to the golden horse-drawn chariot. But don’t even think about touching the golden toilet.

Global economic uncertainty over the past few years has pushed gold prices into the stratosphere, and few people have felt that rise as much as Hong Kong entrepreneur Lam Sai-wing has. He has spent the past decade constructing a palace of gold, decked out in six tons of the precious metal. In recent years, the palace has become an attraction mainland Chinese tour groups couldn’t miss, and a boon for Mr. Lam’s retail jewelry business, Hong Kong-listed Hang Fung Gold Technology.

Since gold prices hit four-digit territory earlier this year, Mr. Lam has been taking apart his hall of gold as quickly as he once raced to construct it. He is melting down golden chandeliers, armchairs and armored knights and selling gold by the ton to fuel growth plans that include hundreds of new retail outlets in mainland China. But even with the selloff, one thing is certain: The toilet stays.

“I don’t care if gold hits $10,000 an ounce,” Mr. Lam says. “I’m not melting it down.”

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