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The United States Mint today announced the introduction of a new coin product named the 8-8-08 Double Prosperity Set. The set includes two, uncirculated one-half ounce gold coins — the 22-karat American Eagle and the 24-karat American Buffalo.

The two-coin set is priced at $1,298.95, and will go on sale at the Mint's online website on August 1, 2008 at noon (ET).

The prosperity set is the second offering in the United States Mint Celebration Series, which is an experimental program to explore the viability of coins "that are packaged and positioned to celebrate special gift-giving occasions and celebratory events."

The Mint's first product in the series was launched in February to celebrate the 2008 Lunar New Year with an American Buffalo 2008 Celebration Coin.

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On May 15, the House of Representatives passed H.R. 5614, an act “To authorize the production in palladium of Saint-Gaudens Double Eagle coins as ultra-high relief numismatic coins and bullion investment coins in order to provide affordable opportunities for investments in precious metals, and for other purposes.”

Palladium is a silver-white precious metal that is directly above platinum and to the left of silver in the Periodic Table of Elements. Generally speaking, the price of palladium is half that of gold.

The template for the coins is that of the 1907 ultra-high relief Augustus Saint-Gaudens $20 Double Eagle, considered by many to be one of the most beautiful gold coins made in the history of U.S. coinage. The Treasury authorized issuance of a one-ounce gold version of this coin in 2009.

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