Will Burnished Gold Eagles Ever Go Back on Sale?
As of today, 2007-W Burnished Gold Eagles are still not available for sale at the US Mint. These are the "collectible versions" of the Gold Eagles sold directly by the Mint. The coins are struck on burnished blanks and carry the "W" mint mark.
Sales of the Burnished Gold Eagles were most recently suspended on November 5, 2007 due to the "increasing market value of gold." At the time of suspension, the spot price of gold was $809.70 per ounce. The spot price of gold today is ironically lower at $787.40.
During the suspension period, the price of gold has been as high as $840 and as low as $780.
There have been numerous bullion price related suspensions for US Mint products this year, but they usually have only lasted a few weeks. Very shortly, the Burnished Gold Eagle suspension will exceed one month. Will they go back on sale soon, or not at all?
As mentioned in previous posts, this will surely contribute to a diminished final mintage for the 2007-W Gold Eagles, which may drive up prices once the Mint officially ends sales.
Labels: Gold Eagles