2006 Gold Coin from the US Mint

There is a new gold coin emerging from the US Mint sometime in 2006

Last Tuesday Washington officials announced a new 99.99 percent fine 24 karat gold coin will be struck at the US Mint.

Although most coins struck are for circulation, this one will not and is intended purely for collectors and investors.

"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."

There is a 2.4 billion dollars market for 24 karat gold coins according to the US Mint. Nearly sixty percent of high grade gold coins sold last year were 24 karat gold coins with the Canadian Gold maple Leaf being the most popular.

The 24 karat grade coin will surpass the current issues of 22 karat grading and will compete directly with the South African Krugerrand.

"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."

The mint also claims that the American Gold Eagle accounts for 95 percent of all gold coin sales in the US. However on the international market the 24 karat gold coin is much more popular and the US government found itself unable to compete with that.

The designs for the new coin have yet to be announced but are expected in the Spring.

The coins will have a nominal face value but, like all solid gold coins, will sell for the value of the gold at least

The new 2006 gold coin from the US Mint will be a coin to watch for and snap up directly it is issued. More to come!