Ordering Limits to be Removed for 2009 Ultra High Relief Double Eagles
The United States Mint has announced that the ordering limit for the 2009 Ultra High Relief Double Eagle Gold Coins will be removed effective September 21, 2009 at 9:00 AM ET.
When the coins first went on sale January 19, 2009, there was an ordering limit of only one coin per household. The ordering limit was finally raised to ten coins per household on July 27, 2009. On August 31, 2009, the limit was raised a second time to twenty five coins per household.
As the ordering limits have been raised, the pace of sales for the UHR has ratcheted higher. Before the US Mint began raising the limit, the coins were selling at a pace of less than 1,000 coins per week. The first week of sales following the ordering limit increase to 10, the US Mint saw 3,799 coins ordered. In the most recent week, the US Mint sold 2,298 coins, bringing the total sales to 92,346.
The UHR Double Eagles are currently priced at $1,339 each. Under the US Mint's pricing policy, the price of the coins can be adjusted as often as once per week if the average price of gold moves across the designated $50 price increments. The current price of $1,339 reflects an average price of gold between $950.00 to $999.99. A price increase was narrowly missed this week, but if gold retains its current levels, UHR prices would be increased to $1,389 by the middle of next week. The US Mint has generally put price changes into effect around mid-morning on Wednesday.
Labels: Ultra High Relief