The United States Mint is considering an American Liberty fractional gold coin for 2018. The potential coin was briefly discussed today, June 21, at a Citizens Coinage Advisory Committee meeting in Washington, D.C.
U.S. Mint officials offered some background, describing the fractional piece as a more affordable option for collectors and the proposed size popular based on historical sales.
Preliminary plans are for a 1/10-ounce gold, $10-denominated version of this year’s 2017 $100-W American Liberty 1-ounce gold coin (see photos of the coin), which was released in celebration of the Mint’s 225th anniversary.
The smaller coin, as outlined, would share the bigger coin’s designs and major specs, like its West Point-struck proof finish, mint mark and .9999 fine purity, but it would not be in high relief. It would also lack the one-ounce coin’s dual date and anniversary edge inscriptions. The planchet used would be in the style of the $5 American Buffalo fractional gold coin from 2008.
CCAC member Erik Jansen encouraged the Mint to keep the coin’s price as low as possible, conveying that it will dramatically impact the volume of sales.
Expectations are for the coin to be a standalone product, although it could mark the beginning of a new 1/10-ounce numismatic series. Details such as the mintage and other potential limits are still under consideration.
The Commission of Fine Arts (CFA) agreed on this coin at it’s June 15 meeting, getting the first look at what the Mint officials want. Good idea.
I’m sorry, I don’t get it. If these are just medals and not actual coin of the realm why would they waste their time and effort putting out a coin that has no numismatic value? Or did I miss something and these could actually be used as money (disregarding their melt value)? They’re just trying to make more money? Then stop making pennies! Lobby Congress to stop the wastefulness of minting useless pennies and in one fell swoop make a ton of money, layoff the penny workers, and get rid of some overhead too.
These will be $10 tenth-ounce 24-karat gold legal tender coins. The smallest gold coin the Mint produces currently. They should be popular & very affordable.
I get it. It’s currently a medal. They are proposing to make this as a coin. That’s great, because I don’t collect medals. I’m not a medal collector but I AM a coin collector! I like the design and it would make a great coin. I do wish they would make it in silver and if they did then I’d buy a dozen in each finish. I hope they realize that many people may actually REALLY like the design but just refuse to buy medals. The Mint may as well put the design on plates, hats and hoodies if they… Read more »
Rodney Moore – The 2017 225th Lady Liberty Gold 1oz is a coin and is legal tender. The 225th Silver Medal is not legal tender. The legal tender amount for the 225th Lady Liberty Gold 1oz coin is $100. I would also like to see it as a Silver coin but I thing the approval process for Gold coins compared to non-gold coins is different and that is why they came out it as a medal (But I could be wrong about that).
Seth, The trouble with the 1/10th ounce gold coins is that they seem to be about double the price of the actual metal’s melt value and have too high of a premium. I’ve not paid too much attention to the pricing but the few times that I have looked, the premium was always equal to the melt value. I’ve always thought to myself “Well, that’s not cost effective, maybe I should save up and get the 1/2 or a whole ounce” And then I never seem to get around to doing that because I’m always spending the money on affordable… Read more »
Don’t we already have fractional gold with the American Eagle series? And more gold with the Buffalo? And still more fractions with commemorative coins? The mint never seems to stop producing new items. I’ve not problem with the design, but why do we need yet another item or series?
Don’t we already have fractional gold with the American Eagle series? And more gold with the Buffalo? And still more fractions with commemorative coins? The mint never seems to stop producing new items. I’ve no problem with the design, but why do we need yet another item or series?
What ever the mint produces any new coins, those will be another series of bullion coins. Enough is enough. No more coins. More people gonna get burn.
What ever they decide there should be a household limit or no set mintage so major dealers don’t buy up the supply and charge an astronomical premium.
the 5 different medals will cost approximately $300.00 plus shipping. at today’s silver price you can purchase from the secondary market coins dealers 16 silver eagles which would be 16 ounces of silver (and they are real coins, not medals) for the same $300.00. purchase the medals if you like their looks. however, if you are looking for an investment purchase american silver eagles.
A 1/10 oz coin would be a little less hideous than the hideous, PC-obverse of the 1 oz coin, but still hideous nonetheless.
RODNEY MOORE –
I’ll harp on it once again. If the mint were to produce a comprehensive schedule that covered the whole year instead of one month (at most) ahead many collectors would know what’s coming and when and have an opportunity to plan ahead and save for what they want to get regardless of the metal content or the premium the mint sees fit to impose.
Seth Riesling –
Thanks for the clarification. However, starting with the American Liberty medal I decided to stay away from the series, silver or gold. One set you won’t find in my collection. And you know what? I don’t miss it (them) a bit.
As I’m getting older and long past run out of space to store these things I’m finding limiting my collection by sticking to the old and true isn’t such a bad idea either.
I would purchase the smaller version. I would like the mint to start making the smaller buffalos again. Wouldn’t it be cool if the mint for their anniversary made a set of silver eagles from each mint including new Orleans, dahlanega, and charlotte.
Jim have to agree, the new bells & whistles stuff from mint does little for me @ all, I have aged out on stuff & also the sell outs glitches etc., have made me immune form the ‘gotta git it’ attitude of the past. I have not even bought the gold W/L 1/2…..before I would have a few, but I see on eBay they are under the mint price often….so I will wait……
I would but the 1/10 size due to the 1 ounce being more than I can afford . It’s a beautiful coin . Would love to own one
Is the silver medal still worth the price of the silver content?
The sense I am getting from a number of the comments is that the Mint has too many products without a mintage limit, which usually means no real price appreciation in the future. And, the few that are limited mintages sell out too fast & not everyone has the chance to buy one. Plus, the Mint has like 250 products available now which is ridiculous. They need to trim the offerings a bit. They are still selling products from 2007! It is crazy.
It’s obvious the mint has no marketing strategy and having no permanent director only compounds the problem. The deputy director seat warmers are only good for keeping status quo which for the mint seems to mean chaos these days. Again for the same reason my contention has always been that coins of a year should only be sold in that year. The mint can plan ahead (!!!) and provide coins for a year no later than September to follow that rule and at the same time provide a full year schedule (again !!!) to get back on track. Organization and… Read more »