2011-W Unc Silver Eagle Sales, Gold Coin Price Decrease Possible

2011-W Uncirculated Silver Eagles

Sales figures are now available for the recently released 2011-W Uncirculated Silver Eagle. From the start of sales on September 15, 2011 through September 19, 2011, sales have reached 184,967 coins.

I do not have any comparable opening sales figures for the last collectible uncirculated Silver Eagle that was released in 2008. However, over the course of the full period of availability, sales of the 2008-W Uncirculated Silver Eagle had reached 533,757, consisting of 436,702 through individual sales and 97,055 through the 2008 Annual Uncirculated Dollar Coin Set.

The lowest mintage collectible uncirculated Silver Eagle is the 2006-W at 466,573.

It’s still early, but the strong opening for the 2011-W Uncirculated Silver Eagle combined with the possibly 100,000 more coins that will be sold as part of the 25th Anniversary Silver Eagle Set makes it seem like this year’s issue won’t be setting a new mintage low.

The full weekly US Mint numismatic sales report is available on Coin Update.

Numismatic Gold Coin Prices

As long as tomorrow’s Wednesday AM London fix price remains at $1,838 or below, the average market price of gold from the prior Thursday to this Wednesday will fall into the $1,750 to $1,799.99 pricing tier. This is lower than the pricing tier currently in use, which would usually result in a price decrease for numismatic gold coins.

However, an additional aspect of the pricing policy requires that the Wednesday PM London fix price must agree directionally with any price adjustment. That means that the Wednesday PM fix price must be below $1,800 in order for a price decrease to take place.

The current market price of gold is $1,806 per ounce, and gold has been up and down for the past several days, making it too close to call at this point. We will just have to wait and see how the numbers come up tomorrow.

To summarize (and barring any extreme moves in the price of gold): If the Wednesday PM fix price is below $1,800, then there will be a price decrease. If the Wednesday PM fix price is $1,800 or greater, then prices will remain unchanged.

Facebook Twitter Email

Comments

  1. says

    Wow, that ASE number is pretty impressive. Looks like I was way off to expect low sales. I wonder if word hasn’t spread sufficiently yet about other ways to get the uncirculated eagle, or if demand was just really that high.

  2. MarkInFlorida says

    I don’t understand the interest either. It’s just over-priced bullion. I’d rather get it in the set.

    In other news, it was nice to be able to get the 5 oz. ATB coins at a coin show for $3/oz. over melt. But not a single gold eagle proof set in the whole show. Almost never find them at coin shows. Someone must be buying them up. Probably IRA sponsors.

  3. Brad says

    Captain,

    Who knows? Maybe my estimate of 300,000 individual coin sales might have been a bit low. I figured they would sell a ton, but I didn’t know there would be almost 185,000 in the first few days!

    I didn’t buy one. I plan to get mine in the 25th Anniversary Set. I only wish that set was slated to contain an uncirculated coin from Denver with a “D” Mint Mark instead of a plain old bullion coin. Having every Mint represented and a THIRD coin unique to the set would have been awesome. But, I’m grateful we’re getting a special set at all. After the 2009 fiasco, I had serious doubts we would be offered any special treats for the 25th anniversary!

  4. DCDave says

    Guess 1 oz 2011 proof AGEs close to sell out, but negative 90 sales last week, what gives? Maybe all they have left are seconds/returns at this point.

    50:50 chance of price decrease tomorrow as spot price may be above $1800. What time exactly Eastern time is the London fix that determines all of this?

    Seems like first spouse is slowly dying from lack of interest. Michael and everyone that has collected them should hope for discontinuation of the series. I think it will make what they have more valuable and help them stay married to their own first spouse (by not spending everything on coins).

  5. says

    Dave,

    Given that the crazy rush for gold products is slowing down now, it’s possible the volume of returns overwhelmed the volume of sales. Most likely the remaining one ounce proof AGEs are the dregs of the bunch, and it’s not impossible that returns actually exceeded sales. If you look at some other high-cost items in the report (like the platinum eagle) you’ll find that sales are pretty slow.

  6. says

    Cleveland,

    You said it! My poor, aching wallet.

    SmallPotatos,

    The numismatic gold rush is dependent on price movements in gold, it seems to me. If there is another big price move up (or maybe also a big move down) that will probably trigger another wave of panic buying as people either seek to get their gold before it’s too late, or else try to take advantage of deals when the price is down low.

    I am somewhat confused by the continuing absence of the 25th anniversary ASE set. I’m wondering if they had to push it back to November or are thinking of delaying it so that the ASE uncirculated sales have time to go for awhile.

  7. SmallPotatos says

    It’s going to be my poor aching ears, when my wife realizes that i want to buy the ASE Anniversary Set, AND the Gettysburg AtB! 2012 better be a slow year coin-wise because she is probably going to cut me off from any purchases next year!!

  8. DCDave says

    Looks like it will be like Ricky Craven squeezing by by Kurt Busch in ’03 Darlington with a price decrease today with pm gold fix barely under $1800

  9. jimmy says

    to buy a 1/4 oz american eagle gold proof at $528.00 each. then the buying price from dealer is only $460.00. a gap of 15%.

  10. MarkInFla says

    A dealer has to pay rent, employees, insurance, taxes, etc. If you don’t want to use a dealer’s services, then sell it yourself to a collector on Ebay.

  11. says

    If you sell it on e-Bay, you will pay 9% to e-Bay plus about $5 to list and then you have shipping costs. You will be lucky to get the $460 your dealer offered and you have to spend time to create the listing and wait to see if it sells. Plus if you got it a while back when gold was lower, you could make a profit.

  12. caledonian says

    I received my 2011-W SAEs this week. Have other people noticed the “halo” effect to the left of the eagle on the reverse? I compared to previous years and it’s either not there or not so noticeable.

Leave a Reply

Your email address will not be published. Required fields are marked *