Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, October 19, 2010

2010 Proof Gold Eagle Sales Figures and Pricing

The latest US Mint sales report is now available. This report includes updated sales figures for the 2010 Proof Gold Eagles. After the strong opening numbers last week, some slow down was expected. Separately, based on the US Mint's numismatic gold product pricing policy, a pricing increase will likely not take place this week.

Before discussing the pricing, here are this week's sales figures. The first number column represents the number of units sold during the week ended October 17, 2010. The second column represents the total sales through the reporting date. The final column shows the percentage of the maximum product limit which has been sold.
2010 Proof Gold Eagle Sales

Week Total Percent
1 ounce 5,215 19,195 76.78%
1/2 ounce 706 2,879 19.19%
1/4 ounce 669 3,449 21.56%
1/10 ounce 1,593 8,538 31.62%
4 coin set 2,840 9,987 25.61%

The most popular option continued to be the one ounce individual coin, which sold 5,215 in the last week. With the total now at 19,195, a sell out for this option seems possible within two or three weeks time. Of course, the one ounce coin would still remain available within the 4 Coin Set, which is not at risk of selling out any time soon.

The most significant slow down in sales occurred for the one-tenth ounce individual coin, which sold 1,593 units this week compared to 6,945 in the debut period. Priced at $180.50 each, these coins carry the highest premium above the value of the gold content.

On the subject of pricing, after an increase was narrowly missed last week, it had seemed highly probable that prices would be increasing this week. However, following gold's decline today, the possibility of a price increase is now seems unlikely.

Under current policy, the US Mint bases prices for numismatic gold products primarily on the average London Fix price from the prior Thursday AM to the current Wednesday AM. If the average price moves into a different $50 price tier, then a price change would generally take place. The price change can be overruled if the Wednesday PM price does not agree with the change directionally. This additional aspect of the policy was first noted in this Coin Update News article.

For the current period, the average gold price is solidly within a higher range ($1350 - $1399.99), but the price of gold has fallen back into the current range ($1300 - $1349.99). Therefore, as long as the Wednesday PM fix price comes in below $1350, a price change will not take place. PM Fix prices are set at 3:00 PM London time, or 11:00 AM NY time.

In the past, the supplemental aspect of the policy has been used to avoid a price decrease. I believe this will be the first time the policy will be used to avert a price increase.
Coin Update News: Full US Mint Sales Report



At October 19, 2010 at 4:28 PM , Anonymous Anonymous said...

I hope the price decline holds, and goes down even further. I want to buy my 5 oz. silver coins at an $18 silver base like it was last summer (when the coins SHOULD have gone on sale!)

At October 19, 2010 at 4:35 PM , Anonymous Anonymous said...

Hmmmmm, the dollar stregthened today, interest rates in China go up, and price of gold drops.

POP! POP!!!! POP!!!!!!!!!

All the gold bulls go WAAAAAAAAAH! when they see their foolish gambles go down the tube$$$$$$.

At October 19, 2010 at 4:38 PM , Anonymous Anonymous said...

$18 silver is very unlikely IMO. I'd be happy with a pullback to the high $21s or 22 and gold back to 1250. That would make me more comfortable for a run up to 1500 on gold and maybe 27 or 28 for silver. A straight up move like we've been having is unsustainable and leads people to talk bubbles. Pullbacks are healthy and needed. Get the froth out, the bubble pushers will go away and not come back until we hit 10% higher than the highs last time. The cycle could continue to well above 2000 for gold and 35 for silver...and maybe higher.

At October 19, 2010 at 4:40 PM , Anonymous Anonymous said...

Well, the gold bubble criers may have to have a day or two of "I told you so"s, but that's expected. They've been wrong for a while now.

At October 19, 2010 at 5:18 PM , Anonymous Anonymous said...

The bubble people have been around since yellow was at 300 ten years ago. Its been steadily climbing for ten years and no end in sight. The bubble people are kinda like flies at a picnic. Enjoy your picnic and the flies will go away for a when it goes up some more. Then they smell a hot dog and come back on a slight drop and the process starts over.

At October 19, 2010 at 6:09 PM , Anonymous vaughnster said...

Gold drops less than 5% in a couple of days and this is a Pop? I guess Apple stock has popped too. It dropped 5%...... Give me a break.

At October 19, 2010 at 7:07 PM , Anonymous Anonymous said...

Stupid POP kid just a kid....POP kid I think you need to learn more in this forum...and you maybe have some money in your retirement...kakkakkakak

At October 19, 2010 at 7:38 PM , Anonymous Anonymous said...

Pop, pop, pop, = buying opportunity, buying opportunity, buying opportunity.

Sheesh...what a schmuck!

At October 20, 2010 at 12:03 AM , Anonymous Anonymous said...

I just returned my AGE $50 proof coin. After thinking long and hard about it, do I expect gold to hit $1500 so I won't lose any money?

I've been making more money from my stock and mutual fund investments, which are better long term investments (I am not a coin flipper).

It seems the only folks here who are so bullish about gold, proofs, commemoratives, etc. are coin flippers. I see them buying 100s of coins, getting them certified in the hopes of getting a MS70 rating, and selling them at a profit.

But it's funny. You hear them brag about the money they make from doing so. You rarely hear them talk about the money they lose or the large amount of fees they pay to sell their coins or the postage costs...

At October 20, 2010 at 4:35 AM , Anonymous Anonymous said...

May have a price increase!

At October 20, 2010 at 6:23 AM , Anonymous Anonymous said...

Not before the job nos. They always
beat down the metals before the nos. are released on thursday.

At October 20, 2010 at 8:32 AM , Anonymous Anonymous said...

Thank you for the detailed explanation of the pricing structure. Very helpful for me.


At October 20, 2010 at 11:05 AM , Anonymous Anonymous said...

I just received my 2009 proof silver quarters in the mail today. As I was looking at them, I wondered if there was any markings/distinction on them that would distinguish the coins from a regular clad proof. If not, some unsavory characters could swap out the silver coins and drop in the clads.

At October 20, 2010 at 12:50 PM , Anonymous Anonymous said...

Not just fees on flipping coins, but the taxes. Taxed as a collectable.

At October 20, 2010 at 1:51 PM , Anonymous Anonymous said...

Re:"If not, some unsavory characters could swap out the silver coins and drop in the clads."

If you look at the edge of a clad quarter, you can see the copper.

Also, you could weigh them:
Clad quarters weighs 5.67 grams.
Silver quarters 6.25 grams

At October 20, 2010 at 2:12 PM , Anonymous Anonymous said...

why are the 1/2 oz proof AGE not selling?

At October 20, 2010 at 2:40 PM , Anonymous Anonymous said...

They are overpriced "vanilla". Sets will ensure higher mintages of 1/2 oz. First spouse for the same price range are more "unique".

At October 20, 2010 at 3:11 PM , Anonymous Anonymous said...

It seems the only folks here who are so bullish about gold, proofs, commemoratives, etc. are coin flippers.

I'm not a flipper but am bullish on gold because it's the best investment I've had over the last 20 years. Bought most of my gold at $350 to $400, didn't worry when it dropped a third of its value and went to $250, and just smiled as it has gone up, up, up. Likewise silver was bought at $4 to $8 and now is at $24. $75,000 has turned into $400,000. meanwhile interest rates are zero and stocks are about ready for another crash.

And I'm still buying gold and silver. Sold some of my other collectibles (some at a loss) and bought a couple monster boxes of silver eagles. The way our incompetent government is printing money day and night, silver and gold will just keep going up.

At October 20, 2010 at 7:59 PM , Anonymous Anonymous said...

Okay, here is a bad news on gold that some of you wanted to hear. I shorted gold ETF but it kept on climbing. I covered my short 2 days ago right before it plunged and lost big. I just can't win. So not everyone makes money on gold. I guess bearish on gold really hurts.

At October 20, 2010 at 8:36 PM , Anonymous Anonymous said...

Leave the trading to the pros. Collect physical precious metal coins and keep them for a few more years. I know there are hassles with a lot of metal coins at home: Storage issues, capital gains or taxes as a collectable. There are issues with bank safety deposit boxes also but that may be the best way for most. A lot of coins stored in an apartment is a no no. Too many people have access when you are not there from apt. mgr., utility, inspectors, construction people, repairment etc.

At October 20, 2010 at 8:59 PM , Anonymous Anonymous said...

Just put the coins in a fake can of beets in the back of the pantry shelf, they won't go near it, they'll go for the cookies every time !

At October 20, 2010 at 11:32 PM , Anonymous Anonymous said...

I'd hate to accidentally throw away my fake can of beets.

At October 20, 2010 at 11:58 PM , Anonymous Anonymous said...

Put your gold and silver coins in an airtight jar. Then bury that jar in something dry, like sand. They will keep for years!

At October 21, 2010 at 1:22 PM , Anonymous Anonymous said...

A hollowed out book, a fake electrical outlet in the wall, a safe built into the concrete floor, the cavity behind a door moulding. There are lots of places to hide gold. Just leave a note with your will so your heirs find it in case you go without warning. Don't want a demolition guy getting it 50 years from now.

At October 21, 2010 at 1:44 PM , Anonymous Anonymous said...

When I took the survey this year I predicted $1350 gold by Dec and here we are in October. I actually bought 3 sets personally not to flip, not to grade or to for it to grow 30 - 50% but I bought it for mere wealth protection. Everyone here is talking about our gov or Obama or whoever else but now one ever points to themselves and how everyone took advantage of the good times and in the end the bankers let it happen. PEOPLE wake the hell up, we are in the mist of a crisis and it will take a whole lot of time till this thing gets all cleaned up.

For all those Poppers, ask how many of your friends own gold and if you have more than 70% saying yes then I would agree with you its time to sell. More and more people are putting their money into silver and gold for mere wealth protection. This will only grow year after year.

At October 21, 2010 at 2:09 PM , Anonymous Anonymous said...

Money is to be spent wisely not lost foolishly - 孔子 (Confucius)

At October 21, 2010 at 9:52 PM , Anonymous Anonymous said...

Gold and silver drop AGAIN! Gold falls 1.4 percent and silver falls 3 percent.


How foolish people were, buying them silver territory quarters, thinking the silver would be worth more than the US Mint's selling price.

At October 21, 2010 at 10:53 PM , Anonymous Anonymous said...

The silver WILL be worth more than the Mint's selling price, but it won't happen overnight. Anybody who bought those coins WILL do nicely on that investment.

Go "pop" the zits on your face, kid!

At October 22, 2010 at 5:49 AM , Anonymous Anonymous said...

Anonymous at October 21, 2010 10:53 PM -

Greedy minds affects one to think clearly. - Abe Linkin

When gold and silver bubbles burst, the greedy will whine. WAAAAAAAHHHHH!!!

At October 22, 2010 at 7:01 AM , Anonymous Anonymous said...

What bubble, there is no bubble. The only bubble I see is the one you are in listening to "linkin Park" You will whine when you need a wheelbarrow full of dollars to go buy your video game.

At October 22, 2010 at 8:02 AM , Anonymous Anonymous said...

Oooooo eeeee! Hitch up the wagon Sally. The bubble pop kid is back in town and he is a buzzin' around like a fly at a picnic. The kid thinks he smells a hot dog but I just took my socks off and the dogs are a barkin'. Thats all it is. So need to get too excited.

At October 22, 2010 at 9:53 AM , Anonymous Anonymous said...

I tend to thinkthat POP person actually many , and they just want to be annoying.

At October 23, 2010 at 3:09 AM , Anonymous Anonymous said...

Yesterday marked the end of the second week of availability for the 2010 proof gold American Eagle coins.

None of the sales options has reached a sellout level. Will any of them ever get there?

The one with the best chance of doing so is the one-ounce coin, which reached at last report a sales level of 19,195 coins out of a possible 25,000.

I expect that these buyers were the most eager. They have ponied up over $30 million to purchase these coins.

How many other buyers will join them? That is the question.

With 5,805 to go, it will take more than $9 million more to acquire them.

That’s a lot of money to take out of the hobby, but it isn’t just hobbyists who are doing the buying. Retirement plans are also participating in the action.

The decline in the price of gold of the last few days probably doesn’t inspire the fence sitters to jump into the purchasing fray.

At October 23, 2010 at 4:27 AM , Blogger PsychDr said...

Was thinking of buying a Gold Eagle today as I am concerned that the 1 ounce will sell out soon.

Not sure if this a good investment and would appreciate some feedback on this as well as if waiting a few days for a possible price decrease makes sense?

At October 23, 2010 at 9:29 AM , Anonymous Anonymous said...


Hey Doc.

Best to wait. Why?

POP! The bubble will burst. And all the gold flippers will be going


At October 23, 2010 at 6:01 PM , Anonymous Anonymous said...

Uh, oh, there's one of the bubble pop flies buzzing around the picnic thinks he smells a hot dog but its really just doggy poo he smells and will end up landing on and getting his feet all sticky. I bought an '06 buffalo for 800 four yrs ago and thought I was getting screwed. If you can afford to buy and wait I believe it will be worth it. If I could swing it I would buy a 2010 AGE proof or a buffalo.

At October 25, 2010 at 11:41 AM , Anonymous kbsig106 said...

Received my shipment today - two 1/4's look great and one 1/10 looks great. I had two additional 1/10's that are going back today for an exchange. Spots on the obverse of one and a smudge on the reverse on the other. So three out of five - not too good on the QC, US Mint.

At October 27, 2010 at 9:17 PM , Anonymous Anonymous said...

Gold Falls Toward $1320, Silver Drops 1.8%



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