Commemorative US Mint Gold Coins

“In the span of three days (August 8-10, 2011) the price of gold has seen the largest percentage and dollar increase ever in such a brief period. Gold has surpassed the $1,800 level. This bullish trend shows no sign of abating any time soon. And an increasing number of banks and analysts who predict precious metals prices, expect the price of gold to increase by another 50% by year’s end, Coinnews.com reported. Based on JP Morgan’s prediction of $2,500 per ounce by year end.

On the 9th of August 2011, the sale of numismatic US Mint gold coins was sealed for re-pricing because of this increase. The prices have been restructured as per a Tier 2 price which means that there has been an increase of $5 to $50.

US government Mint began minting coins in 1795 for currency purposes. Today it produces different kinds of bullion, proof, numismatic and commemorative coins. The Denver and Philadelphia mints alone produce 65-80 million coins a day.

What are US Mint Commemorative Gold Coins?

Commemorative gold coins are minted to celebrate and honor American events, people, institutions and places. The Congress authorizes such coins and they are legal tender, but they are not for general circulation. They are minted in limited quantity and for a limited time frame.

These coins are also auctioned off to raise money for important causes. In fact as they are sold by the US Mint, a part of the surcharge levied on their sale price is also meant for organizations and projects that benefit the community. The Mint has so far managed to raise $418,000,000 solely on the sale of the modern commemorative gold coins. This money has been raise to help construct new museums, preserve national monuments and support various programs.

History of the Commemorative Gold Coins

From 1892 – 1954, the era was that of the pre-modern commemorative gold coins. The first such coin to be authorized by the congress was the 1892 Columbian Exposition half dollar. Then through subsequent legislations, 157 coins were minted for 53 different events, occasions and individuals. The Carver- Washington half dollar of 1954 was the last of the pre modern coins.

Congress then passed a legislation which led to a ban on minting such coins uptil 1982. In 1982, the US Mint began minting the modern commemorative coins. The first such coin was the George Washington 250th anniversary Half Dollar coin.

2011 Commemorative US Mint Gold Coin

So far two coin designs have been minted for the year 2011, the 2011 United States Army Commemorative Coin and the 2011 Medal of Honor Commemorative Coin.

The Medal of Honor commemorative coin is a $5 gold coin on the design of the Medal of Honor. The Medal is the highest award for valor in action against an enemy force that can be bestowed upon an individual serving in the U.S. Armed Forces. It is presented to a person who distinguishes him or herself by gallantry at the risk of his or her life above and beyond the call of duty.

"United States Army Commemorative Coin Act of 2008," authorizes the Secretary of the Treasury to mint and issue $5 gold, $1 silver and half-dollar clad coins in recognition and celebration of the founding of the U.S. Army. The designs are emblematic of the history, traditions and heritage of the U.S. Army and its role in the American society. So, the coins have been designed on the basis of the U.S. army services such as ‘Service in War’, ‘Modern service’ and ‘Service in Peace’.