The Coin Collecting Den

WASHINGTON – The United States Mint today announced the new design that Americans will see on the reverse (tails side) of Native American $1 Coins next year.  The design, based on the theme “Government – The Great Tree of Peace,” depicts the Hiawatha Belt with five arrows bound together, with the inscriptions UNITED STATES OF AMERICA, $1, Haudenosaunee and Great Law of Peace.  The United States Mint will commence issuing these coins in January 2010, and they will be available throughout 2010.

The Hiawatha Belt is a visual record of the creation of the Haudenosaunee, also known as the Iroquois Confederacy, with five symbols representing the five original Nations.  The central figure on the belt, the Great White Pine, represents the Onondaga Nation with the four square symbols representing the Mohawk, Oneida, Cayuga and Seneca Nations.  The bundle of arrows symbolizes strength in unity for the Iroquois Confederacy.  The design is by Artistic Infusion Program Master Designer Thomas Cleveland.

Featured on the obverse (heads side) of the 2010 Native American $1 Coin is the familiar “Sacagawea” design by sculptor Glenna Goodacre, first produced in 2000.  Inscriptions on the obverse are LIBERTY and IN GOD WE TRUST.  Like the Presidential $1 Coins, the Native American $1 Coins are minted in the distinctive golden color with the year, mint mark and E PLURIBUS UNUM edge-lettered on the rim.

Yesterday the Mint announced sales of 19,468 American Buffalo Gold Proof coins through November 1, nearly equaling the entire 2008 production of 19,591 in one week of sales. No limits are in place for production or orders of the Buffalo coin, so it seems likely 2009 could surpass the 58,998 sales in 2007 for second highest mintage since the 246,267 coins sold in 2006, the first year they were offered.

The Mint also announced the 2009 US Virgin Islands First Day Coin Cover will be available for purchase Tuesday, November 10. The US Virgin Islands quarter is the last in the series of D.C. and the 5 US territories released this year. The First Day Cover will be limited to 20,000 units.

The Mint announced today that the 24-karat American Buffalo Proof gold coin will begin sales on Thursday, October 29 at 12:00 pm Eastern Standard time. If gold remains between $1,050 and $1,099.99 per ounce, the coins will be priced at $1,360 each. There is no order limit and no announced mintage limit, apparently the Mint is not suffering any shortage of 24-karat blanks, in contrast to the 22-karat blanks used for the American Eagle coins. Demand seems likely to be high for this coin! This could mean the production figures for this coin will be relatively high, which in turn could limit the secondary market value compared to last year’s more limited mintage.

On a related note, the Mint has already sold 86,000 American Buffalo bullion coins as of today (10-22-09) since they went on sale October 15. That is a very robust figure, particularly in comparison to 2008, when 172,000 coins were sold in the entire year. This is a definite indication of strong demand that seems likely to include the proof coins as well.