The US Mint needs to change its gold and platinum coin offerings

  • by: Peter Rosconi
  • target: Richard Peterson, Acting Director of the US Mint; other concerned government/numismatic officials

The US Mint's current numismatic product lineup is not as interesting and attractive as it could be. The US Mint is in a position to revise its product lineup to make it more interesting and more attractive to its customers who purchase numismatic items from the US Mint. 

One of the ways that it could be done is through the Secretary of the Treasury's "broad authority" to mint and issue gold and platinum coins.

This is an authority that must be taken advantage of by the US Mint. The US Mint has taken advantage of the broad authority to mint and issue gold and platinum coins to mint products such as the 2009 Ultra High Relief $20 gold coin which have been very successful and well received by the numismatic community.

We the undersigned call on the US Mint to use the Secretary of the Treasury's "broad authority" to mint and issue gold coins to produce the following numismatic gold coin products:

-A "low relief" with motto St. Gaudens Double Eagle. This coin would be an exact reproduction of the "low relief" with motto St. Gaudens Double Eagles issued from 1908-1933 as designed by Augustus Saint-Gaudens; the differences being that there would be 50 stars on the obverse and the coin would contain 1 troy ounce of fine gold with a composition of 91.67% gold, 3% silver, and 5.33% copper. The diameter of this coin would be 34mm. 

-An "ultra high relief" St. Gaudens Double Eagle. This coin would be a reproduction of the Ultra High Relief St. Gaudens Double Eagles made in 1907 and 2009, though more identical to the coins made in 2009. Like the coins made in 2009, there would be a rim that is slightly flattened, 50 stars on the obverse, the motto "In God We Trust", and the composition of the coin would be 99.99% gold (24 karats of gold). These Ultra High Relief St. Gaudens Double Eagles would also have Roman numeral dates and no mintmarks, similar to the coins made in 1907 and 2009. However the difference would be that there would be a 1 troy ounce version that is 27 millimeters in diameter and a 2 troy ounce version that is 34 millimeters in diameter. Other mints such as the Royal Canadian Mint already make 2 ounce gold coins, therefore a 2 ounce gold coin is not something unprecedented. 

-A with motto Indian Head Eagle. This coin would be an exact reproduction of the with motto Indian Head Eagle issued from 1908-1933 as designed by Augustus Saint-Gaudens; the differences being that it would contain 1/2 of a troy ounce of gold with a composition of 91.67% gold, 3% silver, and 5.33% copper. This coin would also have an edge with 50 raised stars. The diameter of this coin would be 27mm. 

-An Indian Head Quarter Eagle. This coin would be an exact reproduction of the Indian Head Quarter Eagle issued from 1908-1929 as designed by Bela Lyon Pratt; the difference being that it would contain 1/8th of a troy ounce of gold with a composition of 91.67% gold, 3% silver, and 5.33% copper. The diameter of this coin would be 18mm.

We the undersigned call on the US Mint to take advantage of the "broad authority" to mint and issue platinum coins to issue the following platinum coins as a part of the US Mint's numismatic product lineup:

-A Mercury Dime. This coin would be an exact reproduction of the Mercury Dime issued from 1916-1945 as designed by Adolph Weinmann; the differences being that this coin would contain 1/8 of a troy ounce of platinum with a composition of 99.95% platinum. The diameter of this coin would be 18mm. 

-An Indian Head "Buffalo" Five Cent piece. This coin would be an exact reproduction of the Type 1 Indian Head "Buffalo" Five Cent piece produced in 1913 as designed by James Earle Fraser; the differences being that this coin would contain 1/4th of a troy ounce of platinum with a composition of 99.95% platinum, have reeded edges, bear the motto "In God We Trust" on the left side of the reverse above the mound. The diameter of this coin would be 22mm. 

-A Walking Liberty Half Dollar. This coin would be an exact reproduction of the Walking Liberty Half Dollar produced from 1916-1947 as designed by Adolph Weinmann; the differences being that this coin would contain 3/4ths of a troy ounce of platinum with a composition of 99.95% platinum. The diameter of this coin would be 30.6mm. 

It is recommended that in order to not strain the budgets of US Mint customers that the US Mint discontinue the numismatic versions of American Gold Eagles, American Gold Buffaloes, and American Platinum Eagles produced. The bullion versions of the American Gold Eagles, American Gold Buffaloes, and American Platinum Eagle would continue to be produced. It is only recommended that the US Mint replace the numismatic versions of the American Gold Eagle and American Gold Buffalo coins with the St. Gaudens Double Eagles (both low relief 22 karats and ultra high relief 24 karats), the Indian Head Eagle, and the Indian Head Quarter Eagle proposed. 

It is recommended that the US Mint enact these changes to the gold coin lineup in 2016 to coincide with the 30th anniversary of the American Gold Eagle program; the 10th anniversary of the American Gold Buffalo program; and the 100th anniversary of the Mercury Dime and the Walking Liberty Half Dollar.

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