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To: goldsnow who wrote (8656)	3/22/1998 9:21:00 AM
From: Enigma	Read Replies (1) \| Respond to of 116785

The gold coin idea is a much better on than the idea of producers stepping in an buying gold from central banks - forming a cartel. The scheme will have high visability. Strange nobody thought of it before (excluding government issues - Eagle, Maple Leaf, etc). Places gold in new hands in manageable quantities.

To: goldsnow who wrote (8656)	3/22/1998 7:20:00 PM
From: Alex	Respond to of 116785

More on the global millennium coin................. Global Millennium Coin Barrick Plots to Drive Up Price THE world's largest gold mining companies are planning a global millennium coin that could absorb more than 1,000 tonnes of gold, dramatically altering the supply-demand balance. The project, lead by Canada's Barrick Gold, would create the biggest selling product of its kind since the mighty South African Krugerrand where sales have totalled more than 1,400 tonnes. It is set to dwarf sales of the 1986 Hirohito coin (182 tonnes) and the 1991 Akihito coin (60 tonnes). Initial proposals envisage the establishment of a marketing and co-ordinating Millennium Gold Company, with a promotional budget close to the $200m annual total put behind the De Beers "A Diamond is Forever" campaign. The World Gold Council would also be brought in, though not in a lead capacity. News of a millennium coin, backed by an advertising budget of $150m, is set to electrify the world gold market, deeply depressed by continuing central bank gold sales and the effects of the south-east Asian crisis. The millennium coin is expected comfortably to absorb central bank gold sales, which hit 825 tonnes last year (393 tonnes net). It could transform prospects for the bullion market and put a floor under the gold price which closed in London on Friday at $291.70, down from more than $400 less than three years ago. Companies working on the plan, which is in its early stages, include Anglo American Corporation of South Africa, the world's largest gold producer, Newmont and Placer Dome. Disussions are being co-ordinated by Swiss Bank Corporation in London. Spokesmen for Anglo American in Johannesburg and SBC in London confirmed that proposals for a millennium global coin launch are now being worked on, together with preliminary research on regulatory approvals for marketing and distribution round the world. Peter Munck, Barrick Gold chairman and prime mover behind the plan, is due to fly to London for talks with senior SBC executives a week tomorrow and a marketing company could be set up by the end of June. An Anglo American spokesman in Johannesburg said: "We have had discussions on the proposal. It is at an early stage and nothing is set in concrete as yet. But you could say we are not averse. People with experience of the gold coin market see it as a very real opportunity. They are selling the concept of 2000 as a key gold purchase occasion." Oliver Baring, senior SBC gold division director, said yesterday: "Our initial calculations put potential sales of the coin at substantially above 1,000 tonnes. And it is possible that the coin could move 2,500 tonnes. "The coin would have a millennium design on one side and a national, institutional or corporate motif on the other. Ford Motor Corporation is extremely excited by the potential as a sales promotion." Complex legal and regulatory hurdles will have to be overome - in Britain gold coins attract VAT unless they are legal tender and this would dampen sales. George Milling-Stanley, head of the World Gold Council in New York, said: "We have heard proposals . . . If it comes to fruition, there would certainly be a role for us." London Telegraph, March 22, 1998