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News, Information, and Commentary on US Mint Products

Tuesday, October 12, 2010

Proof Gold Eagle Opening Sales Figures

Opening sales figures are available for the 2010 Proof Gold Eagles. The coins went on sale last week October 7, 2010 with four individual sizes and a four coin set available. As widely expected, the opening numbers were strong reflecting pent up demand for collectible Gold Eagle offerings.


2010 Proof Gold Eagles

Product Sales
1 ounce 13,980
1/2 ounce 2,173
1/4 ounce 2,780
1/10 ounce 6,945
4 Coin Set 7,147

The heaviest seller was the one ounce proof coin, which out of all the production options represents the lowest premium compared to gold value. This was followed by the 4 Coin Set, which provides a better value than purchasing the four individual options and a logical choice for anyone who wants one example of each coin.

I managed to dig up the debut sales figures for the 2008 Proof Gold Eagle for comparison purposes. The numbers reflecting six days of sales were 3,120 (one ounce), 598 (one half ounce), 518 (one quarter ounce), 1,347 (one tenth ounce), and 1,691 (4 Coin Sets). This year's debut figures reflecting only three days of sales are between three and five times greater.

Another interesting point of comparison are the final audited sales numbers for the 2008 Proof Eagle. These numbers are 17,720 (one ounce), 10,085 (one half ounce), 6,360 (one quarter ounce), 15,599 (one tenth ounce), and 12,517 (4 Coin Sets). Sales of the individual one ounce proof coin are already approaching the final sales from 2008, while the other numbers are still far below.

The complete weekly US Mint sales report with some further observations about the opening sales levels can be found on Coin Update News.

For price watchers, there most likely will not be an increase for the 2010 Proof Gold Eagles this week. Due to the lower fix prices late last week, the weekly average is likely to remain within the $1,300 to $1,349.99 range.

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63 Comments:

At October 12, 2010 at 2:42 PM , Anonymous Anonymous said...

i wish i could afford one,but i'll be happy with my proof ase's

 
At October 12, 2010 at 2:47 PM , Anonymous Anonymous said...

I kinda thought that the 1 ouncers would be even higher with all the custodians out there.

 
At October 12, 2010 at 3:43 PM , Anonymous Anonymous said...

As I thought. The 4-coin set would not be high in demand.

Wise collectors know that set is way overpriced. Only greedy speculator thought there would be a rapid sell out! LOL!

Why is demand so low? One reason....

POP! POP! POP!

 
At October 12, 2010 at 4:23 PM , Anonymous Anonymous said...

There you go again. POP...POP....POP.....
The 1oz coin will probably sell out soon. Sorry PopPop guy you probably don't like to hear that.
As long as the US monetary policy is to keep the US$ low for whatever reasons, gold prices will continue to go higher.
The printing office is firing on all cylinders.

 
At October 12, 2010 at 4:38 PM , Anonymous Anonymous said...

I don't think much higher prices with 10 times more sales per day than the 2008 proof gold eagles qualifies as not in high demand.

 
At October 12, 2010 at 4:48 PM , Blogger astroguy said...

I'd love to get a 1/4 ounce one to continue my set, but not for $400-450. Last time I bought one it was like $230. With a ~50k+ authorized mintage, I have time to see if gold will go down.

 
At October 12, 2010 at 4:49 PM , Anonymous Anonymous said...

How could you have faith in such a dishonest money system? There's no reason to believe gold is going to go "pop" anytime soon; only fools would believe that. Perhaps he's just upset he cannot afford gold because of how devalued his precious federal reserve notes have become.

 
At October 12, 2010 at 4:59 PM , Anonymous Anonymous said...

Pop!

 
At October 12, 2010 at 5:02 PM , Anonymous Anonymous said...

14 straight months with gold over $1,000 per ounce... who ever thought that was going to happen?

Gold hasn't been below $1,150 per ounce at all during the last 5 months.

With lots and lots of currency devaluation still to come over the next few years minimum, I think it is illogical to believe that gold is overvalued currently. Is it overvalued this week/month? Maybe... but not on any time horizon longer than that!

 
At October 12, 2010 at 5:31 PM , Anonymous Anonymous said...

Yeah pop alright, for the US dollar.

 
At October 12, 2010 at 6:03 PM , Anonymous Anonymous said...

I bought an '06 buffalo proof for 800 four years ago and I thought I was getting screwed then. There is no metal pop on the horizon for several more years. Does anyone out there believe politicians can quit printing and spending money or giving it away. These AGE proofs will probably go for double in four years. I don't like these prices only because I can't afford this stuff. But if I had more loot I would be buying precious metal of all kinds hand over fist both yellow and silver, proof and bullion and a thousand lb. safe to put it in.

 
At October 12, 2010 at 6:37 PM , Anonymous Anonymous said...

I think the one ounce coin will probably sell out within another week. Aftermarket prices will rise quickly once that happens.

 
At October 12, 2010 at 7:42 PM , Anonymous Anonymous said...

Nah, I think the 1 oz single option will be around for another 3 weeks or so before it sells out. Even after it does though, I don't see any secondary market appreciation on that one other than that attributable to the continually rising price of gold.

I remember in years past when the 1 oz single coin sold out fairly early, but was not worth anything extra even after that. This will be especially true while the 4-coin set remains available.

 
At October 12, 2010 at 8:31 PM , Anonymous Anonymous said...

The mint was probably hoping they could raise prices on the gold coins again.

 
At October 12, 2010 at 10:19 PM , Anonymous Anonymous said...

Hi! Mike,
Do you think this will be an abbrieviated year, as far as how long the Eagles are likely to be offered.
Thanks!
(Just Wonder'n)

 
At October 13, 2010 at 3:41 AM , Anonymous Anonymous said...

people like to buy 2010w AGE gold proof have to buy it this week. or else by next week. prices might go up. currently gold is traded at $1,359.40/oz. reach as high as $1,362.20/oz today in europe. all time record high is $1,365.70/oz.

 
At October 13, 2010 at 3:47 AM , Anonymous Anonymous said...

next increase?

2010w one ounce AGE proof - $1,635.00
2010w half ounce AGE proof - $831.00
2010w 1/4 ounce AGE proof - $428.00
2010w 1/10 ounce AGE proof - $185.50
2010w 4 piece set AGE proof $3,030.50

2010w one ounce AGB proof - $1,661.00
2010w First Spouse proof - $879.00
2010w First Spouse unc - $866.00

 
At October 13, 2010 at 6:16 AM , Anonymous Anonymous said...

Re 3:41

You overstated the next price level of First Spouse coins...they go up in $25 increments, so the prices would be:
Proof...$854
Unc.....$841

 
At October 13, 2010 at 7:10 AM , Anonymous Anonymous said...

No price increase this week, but next week could be another story.

The First Spouses are getting so expensive now, I'm starting to think I should just give up and sell off what I've bought so far. Maybe I could re-invest that money in some Silver Eagle monster boxes instead.

The gold value in my First Spouses alone is $39,440, and that does not take into account ANY numismatic value at all. That is strictly the number of coins I have times $680 each (based on the current $1,360 spot price of gold). With numismatic value factored in, they should bring around $50,000.

I looked back, and my total investment in the coins is $36,479.60. It's nice to know I could sell for spot value and still make way more money than the cash would have made sitting in a savings account! I won't sell them for spot of course, but at least I COULD.

 
At October 13, 2010 at 7:58 AM , Anonymous vaughnster said...

Who will be willing to pay the rising prices for the First Spouse gold coins after Mary Lincoln this year? I can't think of a first lady with any interest for collectors after Lincoln until you get to Eleanor Roosevelt which won't be released until 2014! If gold keeps rising I think we'll see some really low numbers for the likes of an Eliza Johnson or Alice Paul, etc. Good luck to those who want the complete set!!

 
At October 13, 2010 at 8:14 AM , Anonymous Anonymous said...

Buchanan Liberty sold surprisingly few last week.

 
At October 13, 2010 at 9:15 AM , Anonymous Anonymous said...

Gold at 1371+ as of this post. Still no mint price increase tomorrow? I want 4 of the quarter oz's.

Thanks for the great blog!

Joe

 
At October 13, 2010 at 9:42 AM , Anonymous Anonymous said...

Nope, still no price increase for tomorrow because the average this week was in the same pricing tier currently being used. The fact that the Wednesday PM fix came in well into the next tier is of no consequence. If the current price holds through tomorrow's fixes though, next weeks' calculation will be off to a strong start towards another price increase!

When it comes to the First Spouses, the die-hard collectors of them will continue to buy each new release as long as they are financially able, despite the fact that the subjects are not interesting. I still think the Alice Paul coin is a dud, since she was not the wife of a president, but was an actual person instead of a representation of Lady Liberty. She does not fit into the program at all. Who cares that she was born during the presidency of Chester A. Arthur? The Liberty theme should have been used for his coin like it was for the other four who did not have spouses while in office.

 
At October 13, 2010 at 9:45 AM , Anonymous Anonymous said...

Some of the first spouse coins will sell for spot, don't kid yourself.

 
At October 13, 2010 at 9:49 AM , Anonymous Anonymous said...

Right now trying to sell spouse coins is like trying to sell the flu bug, except for a few people it is a tough sell.

 
At October 13, 2010 at 10:11 AM , Anonymous Anonymous said...

I know PC BS infested every aspect of our society now, but even disregarding that the first spouse coin series was a dumb idea. If it must exist for some dumb reason they should have at least made them silver.

 
At October 13, 2010 at 1:18 PM , Anonymous Anonymous said...

spot silver broke 24

 
At October 13, 2010 at 1:19 PM , Anonymous Anonymous said...

The silver value of the quarters themselves in the 2009 Territories Silver Proof Set is now $26. Those things must be almost gone, so there probably isn't much time left to pick some up for the issue price of $29.95.

I can't believe the Mint is still selling them for less than the 2010 set which has one less quarter in it! DUH!

 
At October 13, 2010 at 1:22 PM , Anonymous Anonymous said...

where is the pop boy?

 
At October 13, 2010 at 2:08 PM , Anonymous Anonymous said...

I am filling up the bubble with more and more money until it strrrrrrretches and strrrrrrrrretches so that its walls are paper thin.

Then one day, there's a huge drop in value. That causes people to panic and sell. The bubble has burst!

No, I'm not referring to gold. I'm referring to the housing market from 2005....

Sound familiar?

POP!

 
At October 13, 2010 at 2:58 PM , Anonymous Anonymous said...

Cheaper money is the only way out
of this housing mess and cheaper
money is the only way to create jobs and buy back our debt. The dollar has to depreciate a long
ways yet. Gold won't go straight
up, but its big run up is just
starting. All aboard,The trains
leaving the station!!!1

 
At October 13, 2010 at 5:40 PM , Anonymous Anonymous said...

I agreed 100% that US$ will continue to go down. No POP! yet as long as the government keeps printing more money. The government is loaning the almost-free "freshly printed" money to the Banks who in turn charge us an arm and a leg, so they can make large profit. Now that profit money will later be used to repay the TARP money (remember?). Since TARP money belongs to all of us the taxpayers, we'll be basically ended up with worthless paper.

 
At October 13, 2010 at 6:45 PM , Anonymous Anonymous said...

didn't a similar situation occur under jimmy carter...huge inflation,huge unemployment,and gold and silver prices through the roof....and when reagan got in metal prices came back down(way down)

 
At October 13, 2010 at 6:50 PM , Anonymous Anonymous said...

Some of the first spouse coins will sell for spot, don't kid yourself.

Heck, when spot is at $3000 all the spouse coins will probably sell for spot.

 
At October 13, 2010 at 7:16 PM , Blogger Bowtie said...

I'm probably buying one tomorrow.

 
At October 13, 2010 at 7:22 PM , Blogger Bowtie said...

And another 500 silver coins

 
At October 13, 2010 at 7:37 PM , Anonymous Anonymous said...

Received the coin today. Changes in physical dimensions are noted on the certificate of authenticity. Also the coin is struck with the new type of dies that give it a blurry look in frosted areas (Don't like forgot the term for it). Also Packaging finish seems rushed and of lower quality.

 
At October 13, 2010 at 7:45 PM , Anonymous Anonymous said...

To 6:45... The jobs have left for good and the debt is here to stay. There is no Reagan to save us with 2 more years of Commander in teleprompter.

On a numismatic note, is the Mint planning on making proof versions of the 5 oz. silver?

 
At October 13, 2010 at 8:49 PM , Anonymous Anonymous said...

A while a go I sold few first spouses. I did not have problem selling them and i did not lose money even then - when the gold was less than now. What I had a problem with ,it was selling an extra 09 Buffalo. The interest was really low.I had to relist it few times.

 
At October 13, 2010 at 9:19 PM , Anonymous Anonymous said...

Chilean gold/silver mining disaster/miracle will forever change world precious metal mining.
Mining will be safer and cost more to do because of our new global awareness of mining safety.
Once the market realizes this (may be happening now), precious metals will rise in price even further. Those Chilean miners should be an inspiration to everyone.

 
At October 13, 2010 at 9:24 PM , Anonymous Anonymous said...

I just bought 10 1/10 oz today for wealth preservation and I really don't see a better investment right now then investing in these coins. The 1 oz are good but not too many can afford them but the lower fractionals have a larger population base.

 
At October 13, 2010 at 10:32 PM , Anonymous Anonymous said...

I purchased the set of 4. Don't really know why. Maybe I should have bought 2 1oz instead. I was surprised that the display case was kind of shabby. The 2010 Buffalo gold coin came in a nice properly sized case. The 2009 UHF gold coin came in an oversized but nice case also. And for an almost $3000 set of 4 coins, they are displayed in cheesy case. I guess I like the coins. So far the Buffalo is my favorite. What else really cracks me up is that people are posting these coins for hundreds more than the US Mint charges on Ebay.... And people are buying them. Go figure!!! Just buy em and put em away for the future!!!

 
At October 13, 2010 at 11:27 PM , Anonymous Anonymous said...

I only see one set of the 4 American Gold Eagles that has sold on eBay.

Some of the sets aren't even selling at the US Mint's price.

It never hurts to check out rumours...

 
At October 13, 2010 at 11:57 PM , Anonymous Anonymous said...

Do you think the 2010 American Silver Eagle - proof is a good buy? I have some money to invest from graduation.

Reading the smart people here, seems like the silver and gold eagles will be a good investment.

Do you think in a year, my silver eagle will be worth $50 and my gold eagle will be worth $1500? I want to make sure that I make some money.

 
At October 14, 2010 at 12:09 AM , Anonymous Anonymous said...

Have you looked at what other 4 coin American gold eagle sets are selling for on eBay?

About the same price as the 2010 sets. What does that tell you? If gold goes up, the 2010 set will go up, just like the other years.

If gold goes down, well, the 2010 set will go down in price just like the other years

 
At October 14, 2010 at 4:13 AM , Anonymous Anonymous said...

This mornings London fix = $1380.75
Price increase next week very likely!

 
At October 14, 2010 at 4:47 AM , Anonymous Anonymous said...

I too noticed the UHR are going for only about $300 more the current mint issued 1oz AGEs. UHR much more eye appeal and rare coin type. premiums will only rise over time for the UHR.

 
At October 14, 2010 at 5:52 AM , Anonymous Anonymous said...

Do you think in a year, my silver eagle will be worth $50 and my gold eagle will be worth $1500? I want to make sure that I make some money.

You can never be sure to make money ever! Stocks, bonds, gold, silver all go up and down. Money in the bank or under your mattress won't go down (except for inflation) but it won't go up either.

However, I recently read in the Gray Sheets that all proof silver eagles are being bought by dealers for $53. So at $45 issue price, the 2010 sounds like a bargain.

But always keep in mind that you have buying costs (shipping fees) and selling costs (dealer's discount to buy it).

The only way to be sure to make money with your money is to use it to buy a tool like a snow shovel or lawn mower and start a business.

 
At October 14, 2010 at 7:53 AM , Anonymous Anonymous said...

Pop, pop, pop. The bubble is going to burst. No, not gold but the dollar. The sad part about this is the politicians and economic wizards haven't got a friggin' clue. They are now using a diversion and trying to blame the Chinese for our problems. Yes, our yellow metal coins are going up, way up, but so will hamburger, can of green beans, and a loaf of bread. Gold at 5000 an oz. means bread will be around $8 a loaf, hamburger $12 lb. and green beans $6 a can. In a few years what would you rather have, a 1 oz gold coin or 1300 in FRN's. Of course it depends on what it takes to get a lb. of hamburger. No, nothing is for sure but just like the Boy Scout motto:
BE PREPARED.

 
At October 14, 2010 at 8:17 AM , Anonymous Anonymous said...

Even Dave Harper at Numismatic News called attention to the bargain that the 2009 Territories Quarters Silver Proof Set is right now. I'll bet the Mint has sold a lot of them the past couple of days with silver's relentless march upward.

I get the feeling they will be pulled off-sale at around 300,000 units, so they might disappear any day now.

 
At October 14, 2010 at 10:10 AM , Anonymous Anonymous said...

A better value than the '09 silver quarters set is the 2000 silver proof set for the same price on ebay. More silver (5 quarters v. 4 quaters & 1 Kennedy half and a silver dime) and $1.36 more face value including the Sac. dollar.

 
At October 14, 2010 at 8:30 PM , Anonymous Anonymous said...

The 2000 silver mint set has 5 (not 4) quarters. So the set contains an additional silver half and silver dime in addition to the penny, nickel, and dollar coin. Better buy than the '09 quarter set as the prices are similar. I think the 2000 silver proof sets are selling for spot plus face value and may be the best "deal" for numismatist "bullion". This actually was not a super high mintage year and it seems there are as many 99 sets for sale on e bay as the 00s! Go figure?!

 
At October 14, 2010 at 8:44 PM , Anonymous Anonymous said...

2000 silver proof set has 1.258 oz of pure silver (1.4 oz of 90% silver). Melt value with silver over $24/oz=$30+/set in silver content alone (the '09 quarter set has 15 grams less silver).

 
At October 14, 2010 at 10:18 PM , Anonymous Anonymous said...

Got my 1/4 oz. proof Eagle yesterday. I Like the new micro-hammered frost finish and the strike quality was really good compared to my Buchanans' recently(had to return twice). I actually like the packaging and really like that I can push the coin out from the back with my finger-unlike other packaging that leaves the coin "stuck" like some silver eagles and commems. On another note, I couldn't help to notice on the reverse the "close AM" in AMERICA and I mean really close. The bottom of the A&M are conjoined. That's normal right ?

 
At October 15, 2010 at 12:03 AM , Anonymous Anonymous said...

Yeah, the close AM. I think um, thats something new. O boy, i think u got a varietion. And that means you can make alot of $$$$$ !!

Wheeeee! lucky you. Varietions mean you can be rich $$$$ .

 
At October 15, 2010 at 6:22 AM , Anonymous Anonymous said...

Duh "2000 silver proof set has 1.258 oz of pure silver (1.4 oz of 90% silver). Melt value with silver over $24/oz=$30+/set in silver content alone (the '09 quarter set has 15 grams less silver)."

Where did you learn math???

A silver proof set with five quarters, half and dime has 1.33823 oz of silver...each quarter has .18084, the half has .36169 and the dime has .07234 (this is the PURE silver content.

The 2009 quarter set (6 quarters) has 1.08504 oz of silver.

This is .25319 oz less than the 2000 silver proof set which equals 7.874209 grams (31.1 x .25319) NOT 15 grams (which is almost half an ounce.)

 
At October 15, 2010 at 6:41 AM , Anonymous Anonymous said...

12.5g (half) + 2.5 (dime) = 15g silver as listed in mint package insert. Bottom line 2000 silver proof set better idea than '09 silver quarter set for similar price.

 
At October 15, 2010 at 6:43 AM , Anonymous Anonymous said...

Could the one oz. proof be sold
out? In the past when the mint
pushes the back-order date out
each day, they end up sold out
with in a week.

 
At October 15, 2010 at 6:51 AM , Anonymous Anonymous said...

I doubt it's truly sold out just yet. The Mint has probably sold the first batch of strikes, and is now taking orders for the next batch.

With the price of gold being solidly in the next pricing tier now, sales of all gold coins this week should be higher than normal. My thinking is that the 1 oz. single coin gold proof will be sold out by the end of October.

 
At October 15, 2010 at 7:42 AM , Anonymous Anonymous said...

Buchanan Liberty UNC has been on backorder (2 week) for several weeks now but not a sign that it is sold out (I don't think).
The Mary Lincoln may not sell out with 20k production and high pricing.

 
At October 15, 2010 at 5:38 PM , Anonymous Anonymous said...

There will be plenty of unc. Buchanans' very soon, they're just minting more! They will still be available next year given the cost of gold lately.

 
At October 17, 2010 at 8:30 AM , Anonymous Anonymous said...

The Mint doesn't want to overproduce one option over another, so the backorder could last awhile while they continue to take orders for both options. They're probably banking that the proof demand will outweigh the uncirculated demand, so they are letting the uncirculated orders build up before minting the next batch.

I figure the second batch will sell also and another backorder will happen later.

 
At October 19, 2010 at 2:16 AM , Anonymous Anonymous said...

Price increase coming up Wednesday morning 10.20.2010?

Unless...POP! POP! POP! today.

 

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