Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, April 26, 2011

Proof Gold Eagle Sales Figures

The initial sales figures are now available for the 2011 Proof Gold Eagles. These coins went on sale last week on April 21, one day after the market price of gold broke above the $1,500 level.

2011 Proof Gold Eagle Sales
1 ounce 7,249
1/2 ounce 1,159
1/4 ounce 1,313
1/10 ounce 3,680
4 Coin Set 3,988

The figures above represent sales through April 24, 2011, and come from the weekly Coin Update News US Mint sales report. The numbers are down by about 50% for each product option from the initial sales levels for last year's coins.

Leading up to the offering, there certainly seemed to be less excitement compared to the 2010 release. At that time, the return of the Proof Gold Eagle following a one year cancellation had captured collector's attention, and there was plenty of pent up demand following a lengthy period of unavailability.

For this year's release, a lot of collector focus was still devoted to the America the Beautiful 5 oz. Silver coins. Also the circumstances of the 2011 Proof Gold Eagles were more typical, with an early release date and little doubt about the status of the offering.

Despite the drop from the prior year sales levels, figures are well ahead of the early sales numbers for the 2008-dated coins. The chart below shows the initial sales figures for the 2008, 2010, and 2011 Proof Gold Eagles. The numbers for the 2008 release reflect the first six days of sales, while the other numbers represent the first three days of sales.

Initial Proof Gold Eagle Sales Figures

2011 2010 2008
1 ounce 7,249 13,980 3,120
1/2 ounce 1,159 2,173 598
1/4 ounce 1,313 2,780 518
1/10 ounce 3,680 6,945 1,347
4 Coin Set 3,988 7,147 1,691

Price Increase for 2011 Proof Gold Eagles?

When the 2011 Proof Gold Eagles went on sale, they were priced based on an average gold price in the $1,450 to $1,499.99 range. The price of gold is currently just above the $1,500 level, creating the possibility for a price increase tomorrow. The calculation will probably come right down to the wire, determined by the Wednesday PM London Fix price.

The US Mint calculates the average gold price based on the London Fix prices from the prior Thursday AM to the current Wednesday AM. Furthermore, the Wednesday PM price must agree directionally with the change. For the present period, London markets were closed on Friday and Monday.

London Gold Fix Prices
Apr 21 Thurs AM 1507.00
Thurs PM 1504.00
Apr 22 Fri AM N/A
Fri PM N/A
Apr 25 Mon AM N/A
Mon PM N/A
Apr 26 Tues AM 1505.00
Tues PM 1497.50
Apr 27 Wed AM ?

By my calculation, a price increase will take place if the Wednesday AM price is $1,486.50 or higher and the Wednesday PM price is $1,500 or higher.

A pricing increase would impact the 2011 Proof Gold Eagles, 2010 Proof Gold Buffalo, Abigail Fillmore First Spouse Gold Coin, and Mary Todd Lincoln First Spouse Gold Coins.

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35 Comments:

At April 26, 2011 at 11:45 AM , Anonymous Anonymous said...

The 08s were competing against a herd of buffalo.

 
At April 26, 2011 at 12:02 PM , Blogger Michael said...

There's another government job....
Someone to keep the Gold dusted!

 
At April 26, 2011 at 12:10 PM , Anonymous Anonymous said...

I just received an email from ModernCoinMart offering me $30 profit to sell them my 2010-P Hot Springs ATB 5 oz Silver Coin... I wanted to send them a reply full or curse words, but decided not to.

I think I'll wait for more profit than $30, considering it is one of the rarest collectible coins ever.

I'm glad MCM thinks their customers are brain dead... but they said they were "in need of hundreds" of the coins, and would only make such a great $30 offer to the first 400 people who accepted! LOL

 
At April 26, 2011 at 12:20 PM , Anonymous Anonymous said...

I got an email from APMEX yesterday. They are offering to buy any year/quantity of SAE's for $3 over spot, GAE's for $38 over spot and ATB 5 oz sets for $1250.

btw, I received my Jack Hunt ATB set today and it came in NGC holders...Gem Uncirculated, Early Releases

 
At April 26, 2011 at 12:38 PM , Anonymous Anonymous said...

Peope will figure out someday that the 5 oz products are just 5oz peices of silver bullion, They are not coins

 
At April 26, 2011 at 12:47 PM , Anonymous Anonymous said...

We would have to be over 25 FT tall to make the 5 oz a coin

 
At April 26, 2011 at 1:10 PM , Anonymous Anonymous said...

Peope will figure out someday that the 5 oz products are just 5oz peices of silver bullion, They are not coins

April 26, 2011 12:38 PM

Same applies to the 1995W ASE proof but nobody has figured that out. As long as TPG's are putting numismatic value on them by grading them with PL and DMPL they will always be treated as coins.

 
At April 26, 2011 at 1:30 PM , Anonymous Anonymous said...

12:38, Maybe when the U.S. Mint stops discribing them in their discription as " 5 ounce silver uncirculated coin", They will become something else.

 
At April 26, 2011 at 2:08 PM , Anonymous Anonymous said...

If you are waiting for your 5 oz
ATB silver bullion pieces from APMEX, I was told by a very nice customer service lady that they are waiting to receive them from their coin grading service. APMEX expects to ship them to their customers by May 13th.

Sorry I have nothing to say about proof gold eagles.

 
At April 26, 2011 at 2:18 PM , Anonymous Anonymous said...

I'm in for a 1/2 oz proof AGE. Mary Lincoln may be a better "value", but the AGE is purdier!

Anyone spoke to CNT lately?

 
At April 26, 2011 at 2:50 PM , Anonymous Anonymous said...

Silver was off 5% today. Should be an interesting tomorrow with the Fed Chairman holding a press conference. I've never seen a Fed guy speak to the press like this.

We can see a bit more of a correction in silver and a rally in the dollar. Pop Pop boy might make an appearance, foolish as he is.

Hold tight, it might be bumpy tomorrow. In my opinion a drop can signal a buying opportunity as I am personally long on silver.

It'll be interesting to say the least.

 
At April 26, 2011 at 4:23 PM , Anonymous Anonymous said...

"Peope will figure out someday that the 5 oz products are just 5oz peices of silver bullion, They are not coins"

They are the exact design of coins, they say "QUARTER DOLLAR" and "UNITED STATES OF AMERICA" and they were made by the United States Mint. They are supposed to be bullion, but...

 
At April 26, 2011 at 4:37 PM , Anonymous Anonymous said...

" I just received an email from ModernCoinMart ... "

They are counting on the age old adage "There's a sucker born (and available. if I may add) every second" to keep them laughing all the way to the bank.

What a racket!

 
At April 26, 2011 at 6:35 PM , Anonymous Anonymous said...

Coming soon 100 oz pucks that look like dimes. they will only have a mintage of 10,thousand rare, they will be the size of a bic tire, Made special for all us mint coin collectors

 
At April 26, 2011 at 8:20 PM , Anonymous Anonymous said...

Given the spot price of silver on April 25, and factoring in a 10% profit margin - APMEX and the other AP companies should charge around $270 per ATB 5 oz Coin when if they put them on sale with silver prices aroudn what they are now.

Silver is down $2/oz since they ordered, but their cost is their cost. If they try to charge $300 or more, there are going to be more big problems for the price gougers. :)

 
At April 26, 2011 at 10:40 PM , Anonymous Anonymous said...

Peope will figure out someday that the 5 oz products are just 5oz pieces of silver bullion, They are not coins.
Coin or not, the 5 OZer has a low mintage of only 27,000. Look at the 1996 ASE, with over 3.6 million, they still bring a premium. One can only wonder what the 5 OZers will fetch on the after market. Guess we will soon find out.

 
At April 27, 2011 at 4:52 AM , Anonymous Anonymous said...

Price hike coming.
Lincoln gold spouse, best play.
Mintages will be low and demand will eventually be high.
More Fillmore's sold last week than Lincoln types.
Wonder when silver sets will be released? Maybe a silver pricing grid?

 
At April 27, 2011 at 5:10 AM , Anonymous Anonymous said...

POP!

 
At April 27, 2011 at 6:58 AM , Anonymous Anonymous said...

I have a question. What makes the Lincoln spouse a good play? Mintages are fairly high. I'm just curious.

 
At April 27, 2011 at 8:59 AM , Anonymous Anonymous said...

No price hike? Did the average come in just under the next range?

 
At April 27, 2011 at 9:26 AM , Anonymous Anonymous said...

There will be a price change.

 
At April 27, 2011 at 9:30 AM , Anonymous Anonymous said...

Picture of 5 oz p mint mark is on us mint website 279 is the price

 
At April 27, 2011 at 9:34 AM , Anonymous Anonymous said...

THE 5 OZ WILL NEVER COME NEAR THE PRICE OF RARE SILVER EAGLES

 
At April 27, 2011 at 9:39 AM , Anonymous Anonymous said...

What other Silver Eagle is rare besides the 1995-W??????

 
At April 27, 2011 at 9:39 AM , Anonymous Anonymous said...

As much as it pains me to not buy the Eliza Johnson coins on release day, I might wait a week or two to see if the price retreats a bit. I hate having to pay $50 more per coin than what they would have cost on the original release date of March 3.

Of course, my decision to wait or not could be influenced by the maximum mintage for this year's coins. I can see the Mint reducing it to only 10,000 coins of each design. That number might trigger something in the flipper's minds to create a renewed run on the series for quick online sales at higher mark-ups.

The release is now only 8 days away. Where is that press release with details, or the product page itself. I'm dying here!

 
At April 27, 2011 at 10:06 AM , Anonymous Anonymous said...

The Mint is repricing.

 
At April 27, 2011 at 10:22 AM , Anonymous Anonymous said...

Don't buy a Lincoln Spouse if you don't agree that a total mintage of under 20k(both proof and unc total) along with a historic popular theme and minting in a precious metal likely to keep climbing is a good idea.
I guarantee that for the same price the "vanilla" 1/2 oz AGE will always follow spot and nothing more.

When the dust settles, total mintages tend to rule along with unique "types".

 
At April 27, 2011 at 10:35 AM , Anonymous Soapy said...

Some on this thead were inquiring if they should leave 5oz bullion from Jack Hunt in the sealed box. Mine arrived today with a note that says "....Please remember that these coins are sols as bullion, not numismatic pieces. Please note: the coins are packed in bubble envelopes for shipping only and are not intended for long term storage."

That said, they were all NGC slabbed BU Gem Uncirculated. This was the first chance I've had to acually see or hold the coin in person. Very impressive and satisfying experience. I'm looking forward to numismatic version as well.

 
At April 27, 2011 at 10:58 AM , Anonymous Mr B Franklin said...

Hey POP I think you mean

POP UP !

 
At April 27, 2011 at 11:00 AM , Anonymous Anonymous said...

What other Silver Eagle is rare besides the 1995-W??????

The '06 ASE Reverse Proof will be one of the most desired and difficult to accumulate in just a few years. If you find them single, fine. If they are RAW - yes, in original Mint packaging, better. A slabbed unit is NOT the way to go. If you can get the entire 3 coin Anniversary set in original packaging w/ COA, best.

Don't think so? Then you had better think again my friends.

 
At April 27, 2011 at 11:06 AM , Anonymous Anonymous said...

I knew it would be a good day,when the pop boy could only come up with one pop instead of his normal three.

 
At April 27, 2011 at 11:10 AM , Anonymous Anonymous said...

Just received my gold proof medal of honor coin today. Beautiful! Can't say the same about the silver dollar medal of honor. Not much in the design to get excited about.

 
At April 27, 2011 at 11:36 AM , Anonymous VABEACHBUM said...

Another rare ASE is the "UNC 2008 W (Rev of 2007)." I received one via my Mint Subscription, then purchased two more shortly afterwards. By all estimations, the population is somewhere near 42K, and graded specimens continue to do well on the secondary market.

I have not seen any classifications as to whether this coin is called a Variety or Mint Error. Either way, it is a "key" to the ASE UNC series and eventually will command some nice premiums.

 
At April 27, 2011 at 1:27 PM , Anonymous Anonymous said...

Hi Michael,

Do you know the reason why the law was written to authorize a FIVE OUNCE ATB silver bullion coin? Why not 1 ounce or 2 ounces? FIVE ounces does not make any sense to me.

Do you know the answer?

 
At April 27, 2011 at 7:38 PM , Anonymous Anonymous said...

POP-POP-POP!!!

The government deploys its 8000 Tons of gold to back-stop the debt and shore up the dollar, revaluing it to $55,000/oz.

Watch it happen. The average dolt uses "cash for gold", exchanging their gold for "Money". LOL This is the complete opposite of what each and every person should be doing. I just hear all these fools saying how they shouldn't have sold their gold.

It's coming.

 

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