The debut sales figures are available for the recently released 2012-W Uncirculated $50 Gold Eagle. From the release date of June 28 to July 2, orders have been received for 1,949 coins. This is a surprisingly strong opening for the product, which has typically taken a back seat to the more popular proof versions.
Last year, the 2011-W Unc $50 Gold Eagle had recorded debut sales of 1,098 coins, meaning this year’s opening is 77.5% higher. Last year’s coin eventually went on to sell 8,822 units, which would represent the lowest mintage total for any American Gold Eagle.
The strong opening for this year’s coin may have been impacted by the jump in gold prices that occurred just after the release date. The product was priced based on an average gold price in the $1,550 to $1,599.99 range. The day following the release, the price of gold jump by $40 to the top of this range. Gold is currently above the $1,600 level, which creates the possibility of a price increase for next week.
For last year’s offering, the pace of weekly sales was greatly impacted by gold prices. During the rapid run-up in mid-August, weekly sales reached a peak of 814 coins. The rapid rise in the market price of gold had made it possible to purchase the coins for practically the same price as the bullion version, since the Mint only updates prices weekly. Around the same time frame and later in the year, there were also several times that sales exceeded 500 coins per week.