Nearly All Gold and Platinum Products No Longer Available
Currently nearly every gold and platinum product in the US Mint's online store is listed as "Product is not available."
- All 2008 Proof Gold Eagles
- All 2008-W Uncirculated Gold Eagles
- All 2008 Proof Platinum Eagles
- All 2008-W Uncirculated Platinum Eagles
- All 2008 Proof Gold Buffaloes
- All 2008-W Uncirculated Gold Buffaloes
- Andrew Jackson's Liberty First Spouse Gold Coins
- Louisa Adams First Spouse Gold Coins
- Elizabeth Monroe First Spouse Gold Coins
It does not appear that all of the unavailable coins are sold out.
The only coins that are actually sold out are likely the following, which appear on the US Mint's "No Longer Available" section which lists Sold Out products:
- 2008-W Uncirculated One Quarter Ounce Platinum Eagle
- 2008-W Uncirculated One-Tenth Ounce Platinum Eagle
- 2008-W Uncirculated One-Tenth Ounce Gold Buffalo
just got off the phone with the mint and supposedly the plan now is at noon friday the plat UC 1/2oz goes for 569, the 1/2oz UC GAE goes for 509, and the proof 1/2oz gold first day spouses go for $549. that's friday 11/14 at noon.
I have not confirmed this with the Mint, but it seems like this is a likely scenario. It's supported by the fact that the Dolley Madison coins have remained on sale. These coins have been priced at $529.95 and $509.95. If the new price level will be $549, then no adjustment was needed, allowing the coins to stay on sale.
This raises a few questions. In the past, repricings have taken much longer to accomplish and have usually been preceded by a sales suspension which lasted at least a few weeks. How was the Mint able to pull off a re-pricing so quickly this time?
Second, since the coins were being sold at higher prices as recently as one week ago, what happens to all of the collectors who purchased coins at higher prices? The Mint does have a 30 day return period. Collector who paid higher prices could simply return their coins and purchase new ones. Or the Mint could potentially issue automatic refunds of the price difference for anyone still within the return period.
Yesterday I wrote about the unwieldy management of the gold and platinum related products. These recent events certainly play into that, as collectors are once again taken off guard by a sudden change. I'll post more information as it becomes available.
Update: Most Gold and Platinum Products are now back on sale. Prices are lower. Full post following shortly.
Labels: US Mint