Mint to Make New Coin With More Gold

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Guardian
Tuesday April 19, 2005 3:16 PM


By MARTIN CRUTSINGER

AP Economics Writer

WASHINGTON (AP) - The U.S. Mint announced on Tuesday it will begin producing a new 24-karat gold bullion coin early next year, hoping to capitalize on growing international demand for purer gold coins.

The Mint already produces the 22-karat American Eagle gold bullion coin, and Mint officials estimate the potential global market for 24-karat gold coins at $2.4 billion annually.

This will mark the first time the U.S. Mint has produced a 24-karat gold coin, a designation that means it contains 99.99 percent gold. The current 22-karat gold coin, on the market since 1986, contains 91.67 percent gold with the rest of the coin made of other alloys.

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