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October 2006

'W' MINTMARK AMERICAN EAGLES NOW ON SALE INDIVIDUALLY

2006 Gold American EagleIn last month's issue of our newsletter, we reported on new multi-coin sets of gold and silver American Eagles issued by the U.S. Mint to mark the 20th anniversary of American Eagle sales.  One of these sets consists of an uncirculated 2006 one ounce gold eagle and an uncirculated 2006 silver eagle, with both coins bearing a 'W' mintmark.  When they first went on sale, the Mint stated that a maximum of 20,000 sets would be sold.

The Mint has subsequently announced that it will offer identical coins individually, at a combined price more than $110 less than the two piece set.  Customers who had ordered the supposedly limited two coin set have responded angrily, with many canceling their orders or returning already received sets to the Mint for a refund.

Uncirculated 'W' mintmark gold American Eagles are also being offered individually in 1/10, 1/4 and 1/2 ounce sizes.  These three sizes plus the one ounce coin may also be purchased as a four coin set.  Uncirculated 2006-W platinum American Eagles in the same four sizes, and as a four coin set, are also available.  Each coin contains the indicated weight (in troy ounces) of precious metal.  The 'W' mintmark on each coin signifies that it has been struck at the Mint's facility at West Point in New York state.

2006 Silver EaglePrior to the introduction of these coins, the Mint had not sold uncirculated gold, silver or platinum American Eagles directly to the public.  Instead, orders have been accepted solely from a limited number of authorized purchasers, who re-sell the coins to dealers.  While uncirculated Eagles sold through that distribution system are also struck at the West Point facility, they do not have a mintmark.  The bullion (no mintmark) coins can be purchased from dealers for significantly less than the Mint is charging for the new 'W' mintmark coins.  The new offerings will be shipped in individual plastic holders with a protective case and certificate of authenticity, whereas the no mintmark coins are originally packaged only in plastic tubes of 20 or more coins. Pictures of the obverse of uncirculated 2006 gold and silver eagles without mintmarks are included on this page.

The Mint has announced that "reverse proof" gold and silver eagles offered in other 20th Anniversary sets will not be sold individually.  The new reverse proof coins, which have "frosty" fields and polished design elements, are part of three coin gold and silver sets.  As we reported previously, the three coin gold Eagle set is already sold out.  The three coin silver Eagle set can still be ordered from the U.S. Mint.

CURRENT SPECIAL

Through October 22, we're adding one each 2006-P and 2006-D North Dakota quarters in uncirculated condition free to orders of $45 or more placed with our secure online shopping cart.  Please visit our Current Special page for more info.

NEW U.S. MINT DIRECTOR

On September 5, Edmund C. Moy was sworn in as the 38th Director of the United States Mint.  He succeeds Henrietta Holsman Fore, who resigned from the post to accept an appointment in the State Department.  Previously, Mr. Moy was a Special Assistant to President Bush for personnel matters.  His private sector experience includes being a senior advisor at Welsh, Carson, Anderson & Stowe, one of the world's largest and oldest private equity firms.  Among the challenges facing the new Director are the launch of the Presidential Dollars program in 2007.

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