2010 Proof Gold Eagles Selling Quickly
It has been just over one month since the United States Mint began sales of the 2010 Proof Gold Eagles. These are the collector versions of the popular 22 karat gold bullion coin, which feature a deep cameo proof finish. Coins are available in four different bullion weights or within a 4 Coin Set.
The proof Gold Eagles have been offered by the US Mint each year, with the exception of 2008, usually with maximum limited mintages imposed. Sometimes the coins have sold out, other times they have lingered until the following year dated coins are released.
For 2010, there is already one product options sold out. Sales for remaining options are relatively brisk, but none are approaching sell out levels yet. As of November 7, 2010, the US Mint’s recorded sales for the 2010 Proof Gold Eagle are as follows:
2010 Proof Gold eagles Sales
| Sales | Limit | |
| 1 oz | 25,000 | 25,000 |
| 1/2 oz | 4,002 | 15,000 |
| 1/4 oz | 4,413 | 16,000 |
| 1/10 oz | 10,411 | 27,000 |
| 4 Coin Set | 17,424 | 39,000 |
Prices for the offerings were recently raised, in line with the recent rise in the price of gold. The new prices effective this week are $1,635 (1 oz), $831 (1/2 oz), $428 (1/4 oz), $185.50 (1/10 oz), and $3,030.50 (4 Coin Set).
October 2010 Gold Eagle Sales
American Gold Eagle bullion coin sales rose for a second month. Sales measured in ounces were 94,000, bringing the annual total to 1,048,500.
There were some interesting situations that may have impacted Gold Eagle sales during the month. Possibly helping sales levels, the 24 karat Gold Buffalo coins were not available during the month. These had sold out at the end of September, eliminating one option for investors. Possibly detracting from sales, the 2010 Proof Gold Eagles went on sale at the US Mint. Some investment dollars may have been diverted to this collectible offering rather than bullion offerings.
2010 Gold Eagle Bullion Sales (ounces)
| January | 85,000 |
| February | 84,000 |
| March | 102,000 |
| April | 60,500 |
| May | 190,000 |
| June | 151,500 |
| July | 152,000 |
| August | 41,500 |
| September | 88,000 |
| October | 94,000 |
The breakdown of the current month’s sales includes 89,500 one ounce coins, 3,000 one half ounce coins, 2,000 one quarter ounce coins, and 25,000 one tenth ounce coins. During most months, the largest sized coin has accounted for nearly all bullion sales by weight. An exception was June 2010, when the fractionals first went on sale.
2010-W Proof Gold Eagles
Yesterday, the United States Mint released the 2010-W Proof Gold Eagles. These collectible versions of the bullion coin had been canceled in 2009, so the arrival of this year’s coins was positively greeted by collectors.
The coins were offered across four different sizes or as part of a Four Coin Set. Each comes packaged in a blue velvet, satin lined presentation case with certificate of authenticity. The Proof Gold Eagle has been available each year from 1986 to 2008.
The one ounce coins have a face value of $50 and are limited to 25,000 individual sales. The one-half ounce coins carry a face value of $25 and limit of 15,000. The one-quarter ounce Proof Gold Eagle has a nominal value of $10 and product limit of 16,000. The smallest size coin is one-tenth ounce with face value of $5 and limit of 27,000. Lastly, the Four Coin Set, containing one example of each coin is limited to 39,000.
Initial pricing for the coins was based on the average price of gold for the prior week. Prices are $1,585 (1 oz), $806 (1/2 oz), $415.50 (1/4 oz), $180.50 (1/10 oz), and $2,938 (4 Coin Set).
If the US Mint achieves a full sell out across every option, it would represent sales of 111,350 ounces of gold.