Mint News Blog

News, Information, and Commentary on US Mint Products

Monday, January 3, 2011

Proof Gold Eagle Four Coin Set Sold Out


The 2010 American Gold Eagle Four Coin Proof Set has now sold out at the United States Mint. The last reported sales were 33,027 sets compared to a product limit of 39,000.

The 2010 Proof Gold Eagles first went on sale at the United States Mint on October 7, 2010. Right out of the gate, the pace of sales was swift, with opening sales figures for each product option 3 to 5 times greater than the debut figures for the last available Proof Gold Eagles.

The individual one ounce option was the first to sell out on November 1, after the US Mint recorded sales equal to the product limit of 25,000. The individual one-half ounce option sold out on December 22. The last reported sales were 10,166 compared to an announced product limit of 15,000 coins.

Although these two individual options were sold out, the coins continued to be available through the Four Coin Set. With the latest sell out, this is no longer the case.

The only two options remaining for sale are the individual one-quarter ounce and one-tenth ounce coins. Following the last two sell outs, it's likely that these were not produced to the full product limit, meaning a sell out could occur at any time.
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35 Comments:

At January 3, 2011 at 1:31 PM , Anonymous JA said...

I stopped buying gold from the Mint 2 years ago and haven't looked back.

Much too expensive. Regular gold bullion is a better option.

 
At January 3, 2011 at 1:43 PM , Anonymous Anonymous said...

At least gold keeps rising, making prior year purchases from the Mint, way overpriced at the time, look like good buys today! I'm glad I picked up my 2008 Jackson's Liberty and Van Buren's Liberty First Spouse coins for the bargain prices of around $550 each back then!

I still don't think that the 2010 Gold Eagle Proofs will be winners as far as numismatic value is concerned. There are too many of them.

Rather, I would advise picking up original 2006 20th Anniversary Gold Eagle Sets. Those don't really sell for a tremendous amount over the gold value these days, and with only 10,000 sets total (and way less than that in their original state) in existence, that one seems like a better buy.

 
At January 3, 2011 at 1:55 PM , Anonymous agtrader said...

CBOE gold index and oil services were the only down sectors in today's big up new year's market ... ags also sold off heavily at the close; expect to see some pullback in PMs before a new leg higher

 
At January 3, 2011 at 3:36 PM , Anonymous Anonymous said...

I expect the peak will soon be reached of the premium over the spot value of these proof coins. In a month or so, the steady erosion of premium over spot value will begin. All is not lost though, money could still be made if the price of gold continues up. Proof coins are a gamble and the mintage on these will be too high to support a high premium. Is that a consensus opinion or is there reason to believe that a strong premium could stick with these coins?

 
At January 3, 2011 at 4:02 PM , Anonymous Anonymous said...

"Not produced to the full product limit" just like the ATB's

 
At January 3, 2011 at 4:17 PM , Anonymous Anonymous said...

POP! POP!

 
At January 3, 2011 at 4:48 PM , Anonymous Anonymous said...

IRA purchases are driving these sellouts IMO. As many said, there are cheaper ways to own gold and speculators far outnumber collectors.

 
At January 3, 2011 at 5:54 PM , Anonymous Anonymous said...

I believe the mint used to state and maybe it still does that proof coins are made for the COLLECTOR. The mint has never had any statement that proof coins are for investment purposes although many have that potential. Nonetheless metal prices will continue their steady climb so any gold products purchased now are quite likely to increase in value in dollars. Like the commenter above stated gold proof coins purchased several years ago have increased substantially and many purchased prior to 2008 have nearly doubled their price in dollar terms.

 
At January 3, 2011 at 5:56 PM , Anonymous Anonymous said...

I like proofs because there is much less chance the government will call them in if we have a financial crisis, unlike plain bullion.

 
At January 3, 2011 at 6:02 PM , Anonymous Anonymous said...

Twenty years ago I would never buy gold from the Mint. You could always buy it much cheaper a couple years later from coin dealers who bought it at melt and sold it at a few percent over melt. But with the way gold is rising, there is a good chance, with the Fed pushing inflation by printing money, that these coins will never be as cheap as the Mint issue prices.

 
At January 3, 2011 at 8:04 PM , Anonymous Anonymous said...

I tell all my customers to always wait when buying gold from the US Mint. Wait because it can be purchased later for a much lower premium over spot.In most cases this has been true.You need to realize that the US Mints premiums over spot have increased to a much larger percentage which can cause a longer term risk in braking even when compared to spot.

The true reasoning behind buying from the US Mint is numismatic value based on rarity. In these cases which no one can pull out a crystal ball on. The customer should know that the risk can come with rewards or loses.

In today's economy and in the short term. It is not advisable to take such risks IMO. There are far to many available gold proof or bullion products that can be purchased at spot or with very little percentage over spot when compared to the premiums and risks of buying from the US Mint.

The worst possible thing I see most of the customers I have doing is believing all the modern day hype and paying out into a coin they will never see a return on. The new ATBs are probably the best example of this type of problem. You need to keep in mind that when or if our economy gets even worse. None of these over hyped coins will hold the values.

I never make anyone buy any coin or try to persuade them to go with a hyped up slabbed grade. Because I want them coming back to me later when the economy is falling hard and thanking me for saving them the disappointment. There are many people who come in my shop and are completely surprised when they find out the values of the coins they bought from the likes of HSN and others. These coins are no where near the values anyone in the so called free market would pay later in the game. Because those companies are designed to work on high profit hype at the expense of the unknowing.

The US Mint is now known for a higher premium that has increased each year since 1986. Compared to other world Mints. They really can be much lower. But this does not negate them from pricing themselves out of the market and recent gold proof sales have proved this.

I say to be smart and don't buy at such high premiums in this state of our economy. Because I am sure that later you will be happy you bought closer to spot and further away from numismatic rarity prices. Just because it says sold out does not make it worth more later. This is a proven fact on most of the coins ever sold by any Mint.

Honest Coin Dealer

 
At January 3, 2011 at 10:10 PM , Anonymous Anonymous said...

January 3, 2011 1:43 PM

That's ok, I'll pass on your '06 set. Besides the sleeve is a little worn out. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290517758389+

Nice try though.

 
At January 3, 2011 at 10:19 PM , Anonymous Anonymous said...

I Agree. The premium you pay for a U.S. mint proof
coin is pretty high over spot. But for me, when i open
up my awesome AGE 4 coin proof set or stare at my
amazing gold proof buffalo and First Spouse Mary
Todd Lincoln.....I'm blown away. Not to mention
(for example), if the Mint sold out the AGE 4 Coin
Proof Set at around 34000...., thats only 34000 sets out of an estimated 308 Million U.S. Population. A very small percentage of proof owners. The way i see it, this makes the proof coins all that more special. Not to mention the beauty and craftsmanship of these coins. When I got my first Proof Coin from the
Mint (a 2010 gold buffalo), my jaw hit the floor.
I won't ever look back, Proof Coins for me all the way.

 
At January 3, 2011 at 10:56 PM , Anonymous Anonymous said...

As long as your jaw doesn't drop when you go to sell them to a dealer it is all good. Congrats on you fine looking coins you admire.

 
At January 4, 2011 at 5:03 AM , Anonymous Anonymous said...

When you guys say you like the 2006 American Gold Eagle set are you referring to the 2006-W 3 coin anniversary set or the 2006-W burnished set or the proof set?

 
At January 4, 2011 at 5:14 AM , Anonymous Anonymous said...

I thought the mintage on these were too high to warrant much attention. I was going to buy an atb set but not at these crazy prices. If I do manage to find one at the official price, I'll buy and flip as the easy money is too hard to pass up and I am confident I will be able to buy them cheaper in a year. This being the case, the Proof Buchanan is my newest focus. Mint has them at $850but you can buy a 69 for $820 if you look around. With gold at 1400, this premium doesnt seem too high. Any thoughts? What is a fair premium over melt to pay on these? Thanks and good luck.

 
At January 4, 2011 at 5:52 AM , Anonymous Anonymous said...

At 850.00 your looking at 150.00 over spot. Gold will have to hit 1700.00 before you break even in a market that is plagued with scandals over such issues that are developing from over hype and TPG over priced price guides.

I recently purchased a 2007 Jefferson proof first spouse at 685.00 which did sell out and has a mintage of only 20,000. It is also the first liberty design. The mintage on the liberty designs after that are much lower and do get better premiums.

You can't pull out a crystal ball on the Buchanan. But I would say it will not sell out much like the last few liberty designs. It is probably a good buy at 850.00. But I'm much happier with my buy of the Jefferson at 685.00. This way I know at least when gold prices do rise higher. My investment is protected.

I believe the Buchanan is a must have if you are collecting all the Liberties. But it is a bit more risky in this state of the economy. Specially if these idiots in Washington raise the debt ceiling as they call it. Why would they raise the debt ceiling other then to print more money and produce more bailouts which will make all these numismatic values disappear.

I do see gold going higher,much higher. So I think you would be fine in the short term 1 years or so. I think it would be a matter of how bad you want that coin and do you need it to complete the liberty design collection which many people have elected to do on these first spouse coins.

I may regret it. But I will wait to try to find the Buchanan proof cheaper as soon as I can out side of the US Mint.

 
At January 4, 2011 at 6:15 AM , Anonymous Anonymous said...

I agree with some of the comments here that the Mint's premiums are excessive.
However, the only reason I like paying that little extra is that you are assured to be receiving a genuine gold product. Who the hell knows what youre getting on ebay or APMEX, even with respect to graded coins.

 
At January 4, 2011 at 6:55 AM , Anonymous Anonymous said...

I hope most will never buy from Apmex in the future after there treatment of the common folks

APMEX SUCKS

 
At January 4, 2011 at 7:02 AM , Anonymous Anonymous said...

I just placed an order with apmex last week using the refunded amount for my original purchase of 5 ounce ATB coins to show my appreciation for them making these coins available to the public at a lower price that can be gotten anywhere else. Sorry you missed out.

 
At January 4, 2011 at 7:42 AM , Anonymous Anonymous said...

All the APs are sitting on these ATBs or leaking them out in large numbers to the secondary market which is wrong. We all know this and all the APs should be seriously investigated for wrong doing. But this is about the gold proof coins so please keep the ATBs in the ATB posts. lets get past this and move on to other more important coins then these big biscuits that are sure to lose the suckers money later.

 
At January 4, 2011 at 8:29 AM , Anonymous Anonymous said...

To January 3 @ 1:43 pm,

That is not my auction. None of my 2006 20th Anniverary Gold Eagle sets are for sale. And all of them are PRISTINE, by the way.

Nice try for YOU though, smartie pants! Taking my advice and trying to make me look like a bad guy for offering it. You don't know as much as you think you do.

 
At January 4, 2011 at 9:46 AM , Anonymous Anonymous said...

For that you are right, thank you

 
At January 4, 2011 at 9:51 AM , Anonymous EvilFlipper said...

Looks like those ATB's are finally hitting the market. 50+ available on ebay already. Thank you for a merry christmas Apmex. I bet prices drop to about 1700-1900 soon. Maybe even 1600-1500 if the PM's dive a bit more and definetly around the time the numismatic sets hit the market as all available liquidity wil be reallocated to the newest frenzy. Those looking to own at the lowest prices should hold off their purchases until the
Numiwmatic sets sell out. Otherwise get access to the primary dealers and wait patiently.

 
At January 4, 2011 at 10:18 AM , Anonymous Anonymous said...

I believe prices will stabilize at around $2500-$3000 per raw ATB set. Prices may temporarily fall, but you have to remember that every coin dealer and even the APs will be looking to buy these coins up in a few weeks after they have all been distributed - that is a ton of demand that is going to hit these coins sooner than later!

I would advise not selling these if the prices do dip soon, because they will bounce right back in a few weeks.

Most of the auctions are still in the $2300+ price range for now.

 
At January 4, 2011 at 11:36 AM , Anonymous Anonymous said...

PLEASE PLEASE PLEASE keep this ATB crap in the right blog. There is not as much demand on 5 oz silver bullion as most people think. Now look at the blog header and lets please talk about something better. This ATB crap is getting old quick.

 
At January 4, 2011 at 11:45 AM , Anonymous Anonymous said...

And now Coins 'n Things are continuing to play their rediculus game, here's a quote;

"Coming Soon - Due to overwhelming demand order requests will begin early 2nd Quarter 2011

Please continue to visit this website for updates"

That's April or May !!(maybe)

This is now beyond being a joke.

 
At January 4, 2011 at 11:48 AM , Anonymous Anonymous said...

The PF Gold Eagle Set is SOLD OUT !!
whoopdy do, now can we please move on ??

 
At January 4, 2011 at 11:54 AM , Anonymous Anonymous said...

Some serious cherry picking and side deals going on - perhaps time for mint action and/or a class action suit.

 
At January 4, 2011 at 12:02 PM , Anonymous Anonymous said...

I just called Coins N Things and tried to ask why they were not selling them until the 2nd quarter since they have them in hand now.

They hung up on me for asking!

 
At January 4, 2011 at 1:26 PM , Anonymous Anonymous said...

I'll be the first to ask where is that POP POP fly at? Gold down $40+.I love to watch the 2008-w platinum unc. that is for sale on the "notable auctions" side of the page. Platinum was around $2200 when the mint suspended sales and it dropped below $800 in 2008. When the mint resumed sales in Dec.,the plat unc was priced at 1089. I still thank Michael's blog for telling us that they were about to sell out at that price. Here this auction for an unc 2008-w is over 2200 with 4 days left. Now that is good profit-- thanks to Mint News Blog.

 
At January 4, 2011 at 2:03 PM , Anonymous Anonymous said...

What is Coin N Things Website...all I can find is the one in Canada

 
At January 4, 2011 at 2:06 PM , Anonymous Anonymous said...

here is the page in question -

http://atb.cntofma.com/

 
At January 4, 2011 at 2:21 PM , Anonymous Anonymous said...

OK, so which Congressman will pick up the gauntlet and make a name for him/herself? Will there be a call for a bipartisan investigation? Who has the B*lls?
Does ANYONE care? Ha!

 
At January 4, 2011 at 7:10 PM , Anonymous Anonymous said...

This set does not matter to me. Cannot afford such a set anyway. What the mint does sell for working people is a rip-off. Circulating Coin Sets my foot, whoever thought those up need to be fired, but they won't, probably be promoted.

 

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