2009 Gold and Silver Eagle Bullion Coins


The US Mint has been posting high sales numbers for American Gold Eagle and American Silver Eagle bullion coins.

These bullion coins are not to be confused with the collectible versions of the coins that the US Mint typically sells directly to collectors. The bullion coins are distributed through a network of authorized purchasers and can be purchased by individuals from bullion dealers or coin dealers typically at a mark up above the price of the precious metal.

So far during 2009, the US Mint has only produced two bullion coin offerings, the 2009 American Silver Eagle and 1 oz. 2009 American Gold Eagle. At the end of 2008, the US Mint announced the delayed release of all other 2009 bullion coins. Typically, fractional Gold Eagles, 24 karat Gold Buffalo, and Platinum Eagle bullion coins would also be offered.

The monthly sales totals for the 2009 Silver Eagle and 1 oz. 2009 Gold Eagle bullion coins appears below.

2009 Silver Eagle Monthly Sales
January 1,900,000
February 2,125,000
March 3,132,000
April 2,518,000
Total 9,675,000
2009 Gold Eagle Monthly Sales
January 92,000
February 113,500
March 136,500
April 147,500
Total 489,500

If the current pace of sales continues for the rest of the year, Silver Eagle sales would reach about 30 million and Gold Eagle sales would reach 1.5 million. This would represent a new all time high for Silver Eagles. The previous all time high was set last year when 19,583,500 coins were sold. The all time high for 1 oz. Gold Eagle sales was reached in 1998 when 1,518,000 coins were sold.

While it might seem that increased demand is driving this year’s potentially record breaking Gold and Silver Eagle bullion coin sales, I would offer a different interpretation.

The US Mint has been selling gold and silver bullion coins to its authorized purchasers on an allocated basis since March 2008 for Silver Eagles and August 2008 for Gold Eagles. These allocations are necessary because the US Mint has not been able to obtain sufficient supplies of precious metals blanks to meet full demand. The increased sales levels of recent months suggest that the US Mint has been able to obtain greater supplies of precious metals blanks. In other words, demand is not increasing, but rather a greater portion of existing demand can finally be satisfied. This is further supported by the fact that premiums charged by precious metals dealers for Gold and Silver Eagles have been falling over the past few weeks.

The possibility that the US Mint is fulfilling more demand, might mean good for coin collectors is on the horizon. Earlier this year, the US Mint had announced that the production of collectible versions of the 2009 Silver Eagle and 2009 Gold Eagle would be temporarily suspended. Under law, the US Mint is required to produce bullion coins in quantities sufficient to meet public demand. Therefore, until the demand for bullion coins could be met, collector versions of the coins (which are not required under law) would have to wait.

In some cases, the length of delay for the collector coins is already substantial. Last year, the proof Silver Eagle was released on January 3, 2008. The uncirculated version was released on March 17, 2008. The proof versions of the Gold Eagle had been releaesd on March 4, 2008 with the uncirculated versions released on April 1, 2008.

The collectible Silver Eagle coins expected to be released this year are the 2009 Proof Silver Eagle and 2009-W Uncirculated Silver Eagle. The collectible Gold Eagles expected for this year are the 2008-W Uncirculaed Gold Eagle (one ounce coin only) and a full range of 2009 Proof Gold Eagles including 1 oz, 1/2 oz, 1/4 oz, 1/10 oz coins, and the 4 coin set.

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Comments

  1. Michael says

    I have heard nothing new on platinum bullion coins since the announcement in Nov 2008 that the release would be “delayed.”

    On the collector side, all offerings were discontinued at the end of 2008 except for the one ounce proof coin.

  2. Anonymous says

    Personally, I’ll be surprised if we get the gold and silver eagle collectors versions this year. Hope so, but it will be a surprise. If they show up I expect them to be pricey. Too many problems in the economy with continuous pressure from the bullion people. A small time bullion person I may become just to get my hands on something before the end of year.

  3. Anonymous says

    A small time bullion person I may become just to get my hands on something before the end of year.In this economic climate, you might consider becoming a big-time bullion person. Better to be safe than sorry.

  4. Anonymous says

    I think it would be a slap in the face to all collectors of modern mint products if the mint decided to use the ” sorry folks we were too busy to make any proof eagles for you guys even though we have been making them for you to collect since 1986..just hang tight and when things get slow around here we may find some time to make some for you. Oh wait a minute we stopped producing the nickels and dimes already and are cutting way back on all other denominations, but we are still too busy” The mint really is a joke. If you want a real laugh please go on the mint website and read the 2008 annual report. Moy actually gives himself a grade in it. I don’t want to spoil it and tell you his grade you’ll have to look it up and read it for yourself. The mint needs to wake up and just use a little common sense. Just a little that is all I ask.

  5. Anonymous says

    If anyone thinks that the mint will be making any more proofs, NO WAY. Get your hand on any 2008’s because that will be the last year. If they were going to come out with the proofs, they would of atleast said it would be in the Winter. Remember, its the law to make silver and gold MS but not the law for the proofs.

  6. Anonymous says

    Keep your shirts on, the Mint will make some silver and gold eagle proofs this year. Probably not anywhere NEAR as many as they have in years past, and that rarity coupled with demand will make them secondary market treasures, but they WILL exist for those with enough $$$ to spend on them.

    When they do come out, there will undoubtedly be a household limit for each, and they won’t last very long. Definitely stay tuned!

  7. Anonymous says

    To the commenter at 9:01 pm several comments above. What is the minimum amount needed to become a “big-time bullion person?”
    Once I know what that amount is I’ll check to see if I too can become one.

  8. Anonymous says

    I guess if one has to ask how much they need to become a big-time bullion person they haven’t got enough.

  9. Anonymous says

    What is the minimum amount needed to become a “big-time bullion person?”Answer is:
    25-30% of your liquid assets should be in precious metals. (minimum)

    Definitely do this if you have more than $100K to protect. It’s not about investing, it is PROTECTING.

  10. Anonymous says

    “25-30% of your liquid assets should be in precious metals. (minimum)”

    That would have really protected you well in 1980 in front of a 20 year bear market in PMs. You would have gotten more “protection” going long US t-bonds at that time. “Protection” is about timing and while gold and silver may be good investments now, that may change in a few months. Liquid sometimes evaporates :).

  11. Anonymous says

    That would have really protected you well in 1980 in front of a 20 year bear market in PMs. You would have gotten more “protection” going long US t-bonds at that time. “Protection” is about timing and while gold and silver may be good investments now, that may change in a few months. You don’t fully understand where we’re headed in this country. This isn’t about 1980 or any other time. It’s about now, and the economy is in serious distress. Don’t be fooled by the talking heads. Best case, we’re heading for 10 years of no growth. Worst case, be afraid. Protect yourself.

    I’ll say no more, and won’t return.

  12. GoOgLyMoOgLy says

    ^^^Finally, someone on here with some common sense instead of regurgitation of what media tells them to believe. It is NOT going to be pretty, that’s all I can say. Can’t even begin to explain the magnitude of this situation that we’re in…buy what you can while you can! It’ll be sky-high before too long!

  13. Anonymous says

    I think the previous poster was correct when he said to purchase precious metals for protection. This in definitely NOT 1980. The Feds are printing money like drunken sailors with no end in sight. The other concern is that there might be a grab by the Feds into personal retirement accounts (401Ks, Roths, traditionals, etc.) at some point. Doom and gloom…I know, but how else are they going to fund these NEW massive pork spending projects.

    Can anyone say Argentina??

  14. Anonymous says

    Previous poster, lets not insult the drunken sailors by equating them to out of control government.

  15. Anonymous says

    It’s time for the Mint and Congress to clarify by law the Mint’s mission. The Mint has evolved beyond being the supplier of coinage for commerce to also being a retail outlet of coinage for the numismatic community,by it’s own doing. Both functions need to be treated fairly. Time to also get over the politics of where and how bullion is purchased. I don’t care where the silver was mined, I only care about the quality of the finished product. There is no good reason bullion can not be sold directly to the public and still have the Mint make a reasonable profit.
    The autorized dealer program is nothing more that a bullion OPEC. The only retailers that would be hurt by direct sales are the home shopping channels.

  16. Anonymous says

    This is the worst year in history for the us mint. They cannot produce products we want, they cannot ship products they do offer productively, and they bs u when you ask why? I hope the mint collapses so someone else can run the business the way it should be run. The mint is only there because of the people and they don’t care about the american people.

  17. Anonymous says

    Lack of precious metals blanks is somewhat puzzling. According to global demand, there is adequate supply, but the US Mint can't seem to locate sufficient supply to meet public demand. It should be a money maker for them. I don't understand why they can't get the metals.

  18. Anonymous says

    I just read that to date the U.S. Mint has sold over 12 BILLION Silver Bullion Eagles. Why in the hell can't they take 500,000 rounds each for both Proof and Uncirculated for the collectors? Instead the stop Production out right of the Silver Eagles, leaving a VOID in the years for collectors. What the HELL is wrong with the MINT? Morons

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