2008-W Burnished Gold Eagles On Sale April 1
The US Mint has announced that the 2008-W Burnished Gold Eagle Coins will go on sale April 1, 2008 at 12:00 Noon ET. These are the "collectible versions" of the popular gold bullion coins. The coins differ because they are struck on specially burnished blanks and carry the "W" mint mark.
Coins will be offered in one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce sizes. In addition, a four coin set will be available with one of each coin.
Initial pricing is as follows:
|1/2 ounce||$ 565.95|
|1/4 ounce||$ 295.95|
|1/10 ounce||$ 124.95|
|4 coin set||$2,039.95|
This pricing is slightly above the most recent repricing for the 2007-W Burnished Gold Eagles. Of the 2007 coins, only the one-quarter ounce and one-tenth ounce versions are still available for sale.
The Mint mentioned in their news release that the coins are priced at "the relative mid-point between the American Eagle Proof Coins and the American Eagle Bullion Coins."
When they had announced the pricing for the 2008-W Burnished Silver Eagles, I had mentioned that the premium above silver value was significantly less than in prior years, making the coins more competitive with their bullion counterparts. The pricing and statement included with the Burnished Gold Eagles shows that the Mint is aware of the competitive placement against the bullion versions. Pricing slightly above signals that they are not competing directly with the bullion versions, but providing a more collectible coin in return for the slight premium.
I've long held that these burnished eagles are well worth this slight premium since the final mintages are always much lower than the bullion version mintages.
Labels: Gold Eagles