2009-W Uncirculated & Proof Gold Eagles Suspended
Following a similar statement posted for the 2009-W Proof & Uncirculated Silver Eagles, the US Mint has "temporarily suspended" production of the collectible American Gold Eagle Coins.
The suspended coins would include the 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz 2009 Proof Gold Eagles and the 1 oz. 2009-W Uncirculated Gold Eagle. The remaining fractional denominations for the collectible uncirculated Gold Eagles had previously been announced as discontinued.
The following message is posted on the US Mint's website on the product pages where the collectible Gold Eagles would usually appear:
Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”Collectors or investors looking to purchase 2009 dated gold coins from the US Mint have extremely limited options at this point.
The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.
On the bullion coin front, the US Mint has only produced the basic 1 oz. American Gold Eagle coins. To date they have not produced any of the fractional Gold Eagle denominations or the 24 karat Gold Buffalo bullion coins. The 1 oz. 2009 Gold Eagle continues to be subject to rationing.
On the collectible coin front, the only 2009 dated gold coins available are the 2009 Anna Harrison First Spouse Gold Coin and the 2009 Ultra High Relief Double Eagle Gold Coin. Both of these coins arguably carry high premiums. They are currently priced at $629.00 (proof) or $616.00 (uncirculated) for the Anna Harrison coin and $1,289.00 for the UHR Double Eagle.
Labels: Gold Eagles
posted by Mint News Blog @ 6:18 AM
10 Comments:
I think another reason the mint is doing this is to try to enhance the sales of the first spouse gold series, as we have seen that interest in them has been waning over time. With no other gold offerings, save the UHF coin which is limited to 1 per household, collectors have no other option right now for US mint gold purchases, so I would think that the first spouse gold coins may see an increase in sales. I also think that at some point this year, the mint will sell the proof and unc gold and silver eagles & gold buffalos as planned. A shorter release window then might make for a very low mintage, especially if the price of gold keeps increasing.
Leave it to the US Mint to "stike out again" for the real collector. I have collected American Eagle Gold Proofs from the start in 1986. IF they do not issue the 2009 series, it would leave a hole in this collectors series. I would then sell every on that I own and give up on the US Mint products completely. We should all write our Congressman and ensure that they mint these coins. I do not buy their arguement that they cannot get enough blanks. The most powerful country in the world and they can't buy a rather small amount of Gold to keep collectors happy?? Are they kidding you, because they are not kidding me. Give me a break!!
To the collector at 5:44PM who will have a 'hole' in his gold series.
This is why I dont collect Morgan dollars. That series has a huge hole from 1904 to 1921.
Or the Susan B. Anthony dollar etc.
Seriously, a hole in your collection is defined as a coin that was minted but you dont have that coin in your collection.
You will have no hole.
There is precedent for the mint skipping production years in various series, for various reasons. Just in the last century, recall the gaps in minor proof coins from 1917-1935, 1943-1949, 1965-1967; the mint sets of 1950, 1982-1983, etc.
That's not to mention the gaps in regular-series issues over the years-- it's simply a fact of life; deal with it. The current interruptions only add to the possibility of scarcer issues along the way anyway, so I don't know why anyone would be complaining.
It would be a huge disappointment for lots of collectors if the mint failed to issue proof gold, silver & platinum eagles in 2009. But on the other hand if these coins were issued late in the year, they could have real low mintages. Keep your fingers crossed!
The Mint should be in the business of minting coins for the general population, and sell sample items for collectors.
Instead, they seem bent on creating artifical shortages, phoney excitement, and being a Government sponsored competitor to ebay. Getting modern appears to include taking on the guise of questionable antics. Mr. Moy ought to initiate an internal investigation of Mint staff and employees. Something is very wrong and deteriorating at the Mint.
Remember that the Mint is required by Law to produce as many of the regular issue, uncirculated gold bullion coins as demand dictates. They have no requirement to mint Proof bullion coins or to sell uncirculated coins directly to the public.
Unfortunately, with the current economy, demand for gold bullion is at an all-time high. The iShares Gold fund is invested in more physical product than ever. The Mint is required to use gold bullion which has been minted in the United States, and minted within the last 12 months, to produce its coins. In a normal year, this isn't an issue, but when skittish investors are snapping up gold, very little is available to the Mint which satisfies its requirement.
Same story with Silver Eagles as applies to Gold Eagles.
Now, some interesting notes. Somebody has certified an extremely unusual number of 2009 Gold Eagles at NGC. In fact, over 28,000 coins and climbing. That's the highest number of certified Eagles for any year by at least 10,000 coins if you ignore the W-mintmarked versions.
Could be two reasons. One, these are legal investments in IRA's, and someone could be hawking them to investors. Two, somebody like QVC or SilverTowne could be expecting another market meltdown, and will start hawking these if prices go over $1,000 an ounce.
If you want a 2009 uncirculated version, you can still get them from reputable dealers. And it'll be about 30% cheaper than what the Mint will sell it for. You just won't get a mintmark on it.
Although maybe you will. NGC shows 2 2009-W uncirculated coins as graded. Could be a typo on their part, or could be another screwup on the Mint's part.
We know the entire West Point fractional uncirculated program has ended, as has fractional platinum proof. We also know the fractional gold proof program is still going on, so that leaves fractional gold and platinum bullion. Any one know if these are still to be issued for 2009?
Anonymous above-
So far, there have been no 2009 dated fractional gold or platinum bullion coins available.
The last statement on the status of these coins came on November 24, 2008 when the US Mint announced that the launch of these bullion coins would be delayed until "later in 2009."
Just a warning. My son purchased what he thought was a .9999 gold 2010 Gold $50 Buffalo for $19.95 and then sold to a gold buyer for $800. It came from Nat'l Collectors Mint. I can't believe its real and they are advertising on TV. Has anyone else seen this or heard anything about it?
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