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Petitions look for more gold and platinum
By David C. Harper, NMN
May 08, 2014

This article was originally printed in Numismatic News.
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Two petitions have been posted online seeking more gold and platinum coins from the U.S. Mint in 2016.

Electronic signatures of support are being sought from collectors.

Posted May 2 on the “care2 petition site” was a document asking for a total of eight coins to be struck in gold or platinum and featuring classic early 20th century coin designs.

It can be found at: http://www.thepetitionsite.com/817/957/775/the-us-mint-needs-to-change-its-gold-and-platinum-coin-offerings/#sign

What are being sought in gold are a one-ounce Saint-Gaudens $20 with a modified design of 1908-1933 to be struck in .9167 fine gold, an ultra-high-relief Saint-Gaudens similar to the 2009 issue struck in one-ounce and a two-ounce versions in .9999 fine gold, a Saint-Gaudens Indian Head $10 half ounce of .9167 fine gold, and an Indian Head gold $2.50 with the Bela Lyon Pratt design containing 1/8th ounce of .9167 fine gold.

The platinum coins asked for are a Buffalo nickel design quarter ounce of .9995 fine metal, a Mercury dime design 1/8th-ounce platinum coin of .9995 fineness and a Walking Liberty half dollar design used for a 3/4-ounce .9995 fine platinum coin.

The petition calls on the U.S. Mint to take advantage of the “broad authority” in the hands of the Treasury secretary to mint and issue numismatic coins and platinum coins.

In an email to me, sponsor Peter Rosconi writes: “I saw other collectors wanting to take a stand on the products that the U.S. Mint produces and I think that it is a great idea to do so. Also the Secretary of the Treasury has the broad authority to mint and issue gold and platinum coins and has used this authority to recreate coins that are classics, which was the case with the 2009 Ultra High Relief gold coin. This was very popular and very well received by the numismatic community and the U.S. Mint should take that idea further.”

To clear the field for these new issues, the petition recommends eliminating the current collector versions of the gold and platinum American Eagle bullion coins as well as Buffalo bullion coins.

Posted at GoPetition.com on April 29 was a forerunner petition. It seeks the gold coins in similar language as the other, but in addition it asks for a 1/20th-ounce addition to the gold American Eagle series.

It also suggested that the U.S. Mint begin “a pilot program where it would submit a certain amount of these proposed gold coins to NGC and or PCGS directly for certification and to sell these certified coins directly to the public and determine an issue price based on the grade assigned by NGC and or PCGS.”

Perhaps the ideas for a 20th ounce and slabbed Mint coins were too hot for the second petition as the language was dropped.

So far there are 20 electronic signers of the May 2 petition while there are only eight signers of the April 29 document.

For the April 29 document go to: http://www.gopetition.com/petitions/us-mint-needs-to-improve-its-coin-product-lineup.html

The explanatory blurb at the bottom said the petition was written by Vocal Coin Collectors.

No deadline is indicated for the signature collection process, though the May 2 petition hopes to gather 1,000 supporters.



More Coin Collecting Resources:

• Kick-start your coin collection with the Fundamentals of Coin Collecting set of essential resources and tools.

• Strike it rich with this U.S. coins value pack.

• Build an impressive collection with Coin Collecting 101.

 



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Comments
On May 9, 2014 Chris Kiefer said
It is interesting to discuss platinum in the context of recent cooling of relations between the US and Russia, which supplies roughly 15% of the world's platinum. Does anyone think there could be a price squeeze for platinum if relations get worse? If yes, how could this affect the US Mint? Russia does not mind periodically siphoning off supply of its other natural resource exports, such as natural gas.

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