Capital Gold Group Report: U.S. Mint Cancels All 2009 Proof Gold Eagles
Source: U.S. Mint News Blog
Posted: 08 Oct 2009 02:31 PM PDT
2009 American Gold Eagles
While
collectors seem to have been most disappointed by the cancellation of
the collectible Silver Eagle products, the collectible 2009 Gold Eagles
will be missed as well.
The situation for the American Gold Eagle is similar to that described for the Silver Eagle. Gold Eagle bullion coins were first suspended in August 2008 and then resumed two weeks later on a rationed basis. Later that year, the US Mint announced that they would be restricting bullion production to one ounce coins only.
In early 2009, the US Mint officially announced the suspension of collectible proof and uncirculated Gold Eagles until sufficient inventories of gold blanks could be acquired. The rationing of bullion coins was lifted in June 2008.
This week, the US Mint announced that all 2009 Proof Gold Eagles were canceled. This includes 1 oz, 1/2 oz, 1/4 oz, 1/10 oz coins, and a 4 Coin Set. The previously planned collectible one ounce 2008-W Uncirculated Gold Eagle was also canceled. Fractional collectible uncirculated coins had previously been announced as discontinued in the prior year.
As part of this week's announcement, the US Mint did indicate that they would finally offer fractional weight Gold Eagle bullion coins. This comes after more than a year of producing only one ounce bullion. The fractional coins will be available starting on December 3. Since these are bullion coins, they will not be sold directly by the US Mint, but distributed through their network of authorized bullion dealers.
The 2009 Gold Eagle one ounce bullion coin, which has been on sale throughout the year, has sold 982,000 coins to date. This is still less than half of the record sales of 2,055,000 ounces of gold bullion sold by the US Mint in 1999.
Posted: 08 Oct 2009 02:31 PM PDT
2009 American Gold Eagles
While
collectors seem to have been most disappointed by the cancellation of
the collectible Silver Eagle products, the collectible 2009 Gold Eagles
will be missed as well.The situation for the American Gold Eagle is similar to that described for the Silver Eagle. Gold Eagle bullion coins were first suspended in August 2008 and then resumed two weeks later on a rationed basis. Later that year, the US Mint announced that they would be restricting bullion production to one ounce coins only.
In early 2009, the US Mint officially announced the suspension of collectible proof and uncirculated Gold Eagles until sufficient inventories of gold blanks could be acquired. The rationing of bullion coins was lifted in June 2008.
This week, the US Mint announced that all 2009 Proof Gold Eagles were canceled. This includes 1 oz, 1/2 oz, 1/4 oz, 1/10 oz coins, and a 4 Coin Set. The previously planned collectible one ounce 2008-W Uncirculated Gold Eagle was also canceled. Fractional collectible uncirculated coins had previously been announced as discontinued in the prior year.
As part of this week's announcement, the US Mint did indicate that they would finally offer fractional weight Gold Eagle bullion coins. This comes after more than a year of producing only one ounce bullion. The fractional coins will be available starting on December 3. Since these are bullion coins, they will not be sold directly by the US Mint, but distributed through their network of authorized bullion dealers.
The 2009 Gold Eagle one ounce bullion coin, which has been on sale throughout the year, has sold 982,000 coins to date. This is still less than half of the record sales of 2,055,000 ounces of gold bullion sold by the US Mint in 1999.
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