The total reported sales for the 2010 Proof Silver Eagle have now reached 707,704. After less than three weeks of sales, this amount has already exceeded the final mintage of the last available issue of the series.
The US Mint did not provide sales data last week, so the latest report available on Coin Update News reflects two weeks worth of new sales data. The Proof Silver Eagle had debuted with sales of 273,212, so the latest total represents an increase of 434,492.
In most cases, the strongest sales for newly released US Mint products tend to occur within the opening days, with the pace of sales quickly diminishing in subsequent weeks. Based on the figures provided, either the 2010 Proof Silver Eagle has broken with this trend, or as I had suggested, the opening figures were possibly under reported.
Also potentially coming into play were the 2,200 orders from the first days of sales that were deleted in error by the US Mint. Likely most of these orders were reinstated in the following week. Also, the household ordering limit was removed late last week, creating the potential for large bulk orders to be placed.
As mentioned, the sales total for the current release already exceed the 2008 Proof Silver Eagle final mintage of 700,979. More broadly, the sales already represent the ninth highest mintage across all Proof Silver Eagles.
Proof Silver Eagle Mintages – Sorted High to Low
* still on sale.
Separately, there will possibly be another price increase for available US Mint numismatic gold coins. Under the current policy, prices may be adjusted weekly based on changes changes in the price of gold.
Price tiers are established at $50 increments for gold. If the average London Fix price of gold from the prior Thursday AM to the current Wednesday AM, moves into a higher tier, then product prices are adjusted accordingly. As an additional condition, the Wednesday PM price must also fall into the higher tier.
The average London Fix price for this week would fall into a higher tier as long as the tomorrow’s London AM fix price comes in at $1,353 or higher. More key to the situation will be tomorrow’s London PM fix price, established around 11:00 PM ET. If it comes in at $1,400 or high, a price increase will take place. If it comes in below $1,400, no price changes would occur.
A price increase would impact the available 2010 First Spouse Gold Coins, 2010 Proof American Gold Eagles, and 2010 Proof American Gold Buffalo.