Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, December 30, 2008

Price Performance for US Mint Sold Out 2008 Products


It's been a wild year for US Mint customers. Volatile precious metals prices combined with the strong worldwide demand for bullion related products has resulted in long suspension periods, numerous product re-pricings, and unexpected sell outs.

To date, more than thirty 2008 dated products have sold out. This is a huge number of sell outs to occur prior to year end. In the past few years, prior year dated products have been available for many months into the following year. Some of this year's sold out products even include the US Mint's "core" products such as the 2008 Proof Set. Another very early and unexpected sell out was the 2008 Proof Silver Eagle. This coin is a favorite for holiday gift giving, but it sold out in August, never to return.

Prices for the vast majority of sold out products have already moved higher on the secondary market, in many cases significantly. I recently compiled some data to find the approximate secondary market price levels for sold out 2008 US Mint products. The data is presented in a table below.

The first column lists the product description. The second lists the US Mint's last price before the sell out. The third column lists the price range for completed eBay auctions from the last ten days. And the fourth column shows the percentage price change between the US Mint price and the lower number from the current price range. The price ranges only include uncertified coins. The numbers also do not take into account shipping charges, or differentiate fixed price and auction listings. Although it's not perfect, I think the data provides a good indication of general price levels.

2008-W Uncirculated Gold Buffalo

Product Mint Price Recent Price Change
1 oz. 999.95 1500 - 1550 50%
1/2 oz. 524.95 650 - 720 24%
1/4 oz. 297.45 500 - 530 68%
1/10 oz. 129.95 275 - 300 112%
4 coin set 1902.45 2975 - 3250 56%
View current eBay auctions





2008-W Proof Gold Buffalo

Product Mint Price Recent Price Change
1 oz. 1049.95 1625 - 1900 55%
1/2 oz. 549.95 700 - 770 27%
1/4 oz. 312.45 484 - 579 55%
1/10 oz. 164.95 307 - 395 86%
4 coin set 2005.45 3295 - 3500 64%
View current eBay auctions









2008-W Uncirculated Platinum Eagles

Product Mint Price Recent Price Change
1 oz. 1069.95 1350 - 1650 26%
1/2 oz. 569.95 650 - 700 14%
1/4 oz. 319.95 380 - 420 19%
1/10 oz. 134.95 176 - 180 30%
4 coin set 2089.95 2800 - 3000 34%
View current eBay auctions





2008-W Proof Platinum Eagles

Product Mint Price Recent Price Change
1 oz. 1119.95 1700 - 1775 52%
1/2 oz. 599.95 829 - 849 38%
1/4 oz. 359.95 550 - 630 53%
1/10 oz. 199.95 290 - 350 45%
4 coin set 2179.95 3100 - 3100 42%
View current eBay auctions





Other 2008 US Mint Products

Product Mint Price Recent Price Change
Legacy Collection 100.00 150 - 170 50%
Pr Silver Eagle 31.95 80 - 100 150%
Proof Set 26.95 45 - 55 67%
State Quarter Pr Set 13.95 30 - 45 115%

Some observations and thoughts after compiling this data.

- The biggest winner so far is the 2008 Proof Silver Eagle. The US Mint's issue price was $31.95. Coins are currently selling for $80 to $100 each, representing an increase of at least 150%. These coins sold out the earliest, and the most unexpectedly. I think the latter is responsible for a big portion of the price appreciation. On a historical basis, the estimated mintage of 713,236 is far above the low mintage issues of the 1990's, most of which sell for lower prices.

- Another big winner includes the 2008 Proof Set. Once again the sell out was unexpected, which contributed to the fast price appreciation. The sell out is also not easily explained since this set does not contain any precious metals content, a factor that likely had a hand in most of the other sell outs. The estimated mintage of 1.4 million is extremely low on a historical basis. A regular proof set has not had a mintage this low since the 1950's.

- The Gold Buffalo coins and Platinum Eagles have both performed well. The fractional Gold Buffaloes now represent a one year only issue, which seems to be causing some excitement. All of the Platinum Eagles have relatively low mintages, with the proof versions seemingly having hte lowest mintage for any proof Platinum Eagles. Seeing the price performance and low mintages of these coins makes think sell outs for the remaining 2008-W Uncirculated and Proof Gold Eagles is not far behind.

- The sold out coins which seem particularly difficult to find are the 2008 Proof Platinum Eagles. In particular, the one ounce coin and 4 Coin Set only had a handful of completed auctions in the last ten days. The majority of the current auctions are fixed price listings with prices much higher than the ranges above.

Discuss this post on Coin Network!


I may not fit in another post before the end of the year- so if this is the last one Happy New Year to everyone and thank you for reading Mint News Blog throughout 2008!

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5 Comments:

At December 30, 2008 at 5:57 PM , Anonymous Anonymous said...

Happy New Year to you also! You are doing a terrific job; we hope to hear from you often in 09.

 
At January 3, 2009 at 10:56 AM , Anonymous Anonymous said...

Michael,

Thank you very much for all of your informative information. It ia a pleasure to read your blogs. Have a happy and a healthy new year! Lets hope for low mintages, and rising platinum and gold numbers.

 
At January 4, 2009 at 1:24 PM , Blogger stgecko said...

This is exactly the kind of data I find useful! Thanks so much for gathering it.

 
At January 4, 2009 at 3:05 PM , Anonymous Davey Crocket said...

This may not be the place to ask this but does anyone know what has happened to Billie Crawford and his excellent Monthly Newsletter (Die Variety News)?

 
At January 4, 2009 at 5:26 PM , Blogger Michael said...

I'm not sure.

You can try starting a discussion thread on http://www.coinnetwork.com.

Someone might have the answer.

 

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