2012-W Uncirculated $50 Gold Eagle Sold Out

According to the US Mint’s website, the 2012-W Uncirculated $50 Gold Eagle has sold out. I have also confirmed the sell out directly with the Mint. This is a very surprising development and the issue now seems to represent a new mintage low for the American Gold Eagle program.

The 2012-W Uncirculated Gold Eagle originally went on sale June 28, 2012, which means the product has only been available for about four and a half months. The sell out also occurs with more than one and a half months left within the calendar year.

According to the latest sales report, the US Mint had received orders for 5,796 of the coins. As long as there have not been any huge movements over the past few days, this will represent the new mintage low for Gold Eagles across both bullion and numismatic issues.

The status of mintage low for the series has now changed many times over the past few years. First, the 2006-W Reverse Proof $50 Gold Eagle represented the low with final audited sales of 9,996. Then came the 2008-W Uncirculated $10 Gold Eagle with final audited sales of 8,883. More recently the 2011-W Uncirculated $50 Gold Eagle had sold out with last reported sales of 8,822.

Will the latest mintage low generate excitement and a boost in secondary market prices? Or will collectors simply assume that next year’s release will have an even lower mintage, perpetuating the recent cycle?


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Comments

  1. Mint News Blog says

    Last reported sales are 5,796. An updated sales number will likely be available next week on Tuesday.

    The final audited mintage is generally not known for a year or more after the sell out.

  2. saucexx says

    This has been on my list but unfortunately the bank account couldn’t cover it.

    Any idea why it sold out with so few minted? Maybe it had something to do with the FS coins.

  3. Louis says

    Last night I could have gotten an MS70 FS for $2100, but I could not afford it. Today bids are already $500 above that level and still going. You win some, you lose some. It’s still better not to buy things you can’t afford even if they go up a lot.

  4. Samuel says

    i believe this year’s number will be the lowest. first, when they minted the coins this year, the market was not good, and u guys keep blaming them for selling coins for too long. so, the mint thought, em….., why not mint less coins…. second, after that, the gold price took off, and the mint learned the lesson, and will mint more next year.

  5. Brad says

    And a great big “screw you” from the Mint to everyone who bought the 2011-W unc thinking that it’s low mintage would be a winner. It’s probably headed for bullion prices now.

    It’s incredible that they would cut off production of a coin like that when they can mint as many as they want before 12/31, then sell them during the entire 2013 calendar year! I give up trying to find a rhyme or reason with how they do things. Does this mean Alice Paul is subject to sell out any day now, despite being no where near the max with about 1.5 months left to produce them? Crazy. Maybe it would be a blessing in disguise. Then I wouldn’t feel obligated to buy ANY more First Spouses. Both of my remaining sets would be broken!

  6. Samuel says

    last year, when the mint announced the unc AGE sold out, i immediately bought one from apmex, and watched the coins got sold out at apmex one by one.

    this year, i bought it early.

  7. Louis says

    Brad,
    I know how you feel, i am in the same boat. But look at it this way, the Hayes and Garfield coins have tripled esp. if you got a 70, whereas I do not think the 2012-W burnished eagle will triple in value even if it remains the key. So we did okay. I was fortunate to get an MS70 hayes last year for about $1100, and I am not going to hit myself over the head for not getting this new key coin with a mintage three times the spouse keys. No one bats a thousand!

  8. says

    I would wait and see what happens with this coin, guys. Next year’s mintage is highly likely to be even lower and sales are liable to be even slower as we continue moving inexorably to $2000 in gold. Note that while there was initial excitement over the 2011 coin when it sold out, prices stabilized pretty quickly.

    This sellout is likely a great opportunity for flippers looking to make a quick profit, though.

  9. T1 browserman says

    I’m surprised the Gold proof Eagle is still fractioned. All other offerings were slashed in favor of the troy oz….why not this one ? Anyone ?

  10. Brad says

    Louis,

    Yeah, I wouldn’t even be able to capitalize on the 2012 W unc if I HAD bought it. I can’t sell anything else this year, because any more capital gain will throw me into a higher tax bracket! I’ve already figured it out, just in case I needed to have extra federal withholding from my paycheck before the end of the year. So I can’t sell anything else until January without having to give a bigger chunk to Uncle Sam!

    Part of the reason I haven’t bought the Alice Paul coins yet is because my wife and I are getting ready to buy a brand new house. That’s why I sold off some of the extra 2007 FS coins we had, to raise the rest of the money needed for the down payment. I can’t put those 2012 FS coins on a credit card and not be able to pay it off when the bill comes. I’m CERTAINLY not paying any credit card interest! But if the coins sell out before I can raise the necessary funds to buy them next year (by selling off more extra FS’s in January), then I’ll lose out entirely. One good thing about that if it were to happen would be that then ALL of the remaining First Spouses we have would become extras, and my wife and I could really clean up. Plus I would have that monkey off my back, having to watch helplessly while gold rises and rises, while the coins I want to buy are delayed month after month. None of it would matter anymore! But I’ve found that buying these coins is like an addiction. Will I ever truly be able to walk away?

  11. Wylson says

    I think we are in a race to the bottom on some of these mintages. As gold goes toward 5,000 the mintages will continue to fall.

  12. joe says

    So many things wrong with the gold First Spouse program…so many things!

    Chief among them is the debacle this year in waiting until gold prices were up to release four coins! But we all must remember…this is the government…they never lose an opportunity to waste our money or ruin a good thing.

    This series should have been made out of silver and not gold…period! Bureaucrats know absolutely nothing about coins!

  13. ABC says

    There could be many reasons why the 2012 AGE unc sold out with such a low mintage. Maybe the mint only minted around 6000 coins to begin with and with the end of the year coming up and seeing how slow they were selling, they didn’t see it profitable to start the minting process again. Also, the mint might be using this strategy in the future as a way of keeping us on our toes and to create more interest.

  14. Hidalgo says

    I have stopped trying to second-guess which US Mint coins are going to be low-mintage coins. Today’s winner may be tomorrow’s loser. No one can accurately predict the future. And with the high price of gold, I certainly do not have the funds to speculate on which coins will be rare.

  15. posterhunter says

    4 1/2 months was not a long time to have these up for sale, next year if they do this coin again I doubt it ends up lower.

  16. Athalon says

    Gold is going up but stocks are going down. Buying predicted coins that are low mintage now may find you retreving the over melt price very quickly.
    What took 3 decades + to tank our economy will take a decade and more to regain a strong position in the world. Gold is money , just like our natural resources.

  17. ClevelandRocks says

    FY Mint! 4 1/2 months for this offering and closing on 2 years for ’11 proof American Buffalo gold?

    I wouldn’t be so pissed if they weren’t doing this “last chance” crap for items on sale for over a year. Where was our “last chance” for the w-AGE?

    What about the 4 week window for the ’12 S ASE until the next window of sales?

    Stop playing us Mint!

  18. Tom says

    I am all but done with mint issued products. I will continue to buy just one each of the ATB clad and silver proof quarter sets, but nothing more beyond that. The election Tuesday portends a significant and lasting negative financial impact on me personally, so I am done.

    I will continue to stack bullion as my resources allow, as I anticipate we will be back in recession by Q1 2014.

  19. Schnurri says

    Do you think it might have something to do with the destruction of the American way of life by Obama?

  20. Schnurri says

    I’m buying 90% Morgans and Peace Dollars. At least everyone recognizes them for having value and I can trade them for something to eat when the end comes.

  21. William says

    How is it that a Native American dollar could be produced with edge printing?

    The Mint is a very curious institution…time to check my rolls for errors.

    Copper State collector.

  22. Mark says

    How much longer will the current AGE design last? Could this be the last year? If so, this coin will be very special indeed. I just picked up one MS70 ER last week for $2100. Fortunate timing! I picked it up because I had the 2011 matching coin. Interesting pop numbers on the NGC ER70s. Last year, only 410, this year, over 2,500. Do you think the Mint told their dealers about the short run? This looks a lot like the 1/10th 2007 where the majority of 70s are ER. Some funny business for sure! As for Au prices, there is only on direction, which is why I bought the coin last week, so close to spot…just couldn’t pass it up. Best bet today is to buy raw bullion. IMHO, Ag is still a better bet than Au as far as near term gain goes. Both are better than the rapidly devaluing dollar.

  23. Hidalgo says

    As I have said before, it is more important to buy coins that you like and that you want for your collection, rather than buying coins that you think will go up in value.

    Generally, gains and losses from speculative purchases tend to even out in time, unless you’re one of the lucky 1% or so who tend to make the right decisions all the time.

    If you buy a coin you like at a high prices, at least you’ll have something you’ll like if the coins’ value should fall. If you buy a coin that you really didn’t want because you thought it would increase in value, then you’ll be disappointed in what you have if its value goes down.

    Food for thought….

  24. MTH says

    I wonder if the Mint finally getting around to minting gold Spouses had something to do with the early cut off on the 2012 W Unc?

  25. Athalon says

    You are in a recession now . Unemployment is artificially low , as is inflation.
    Ask you wife when she grocery shops !
    This has to have an impact on coin sales. Expendable funds are going away.
    Basic necessities are first in line.

  26. SilverFan says

    These may be hot now but long term numismatic value will not be determined by mintage (supply) but by demand. I am done chasing low mintage bullion.

  27. Dan says

    In the last year, I unloaded all of my Proof AGE’s, now all I have to do is unload all of my Proof APE’s. I am basically done with the US Mint.

  28. G says

    It’s good news for the Mint in general- keeps mint products in the news as we get into holiday gift time

  29. TomP says

    The next coin to go might be the 2012 ASE proof. A static delayed shipping date of 11/09/12 had been listed all week but yesterday was changed to the standard two week delay (11/24/12). It’s demise shouldn’t cause the ripple created by the 2012 AGE unc.

    In August, I offered my grandson the choice of either the 2012 Buffalo or AGE unc. if he maintained an agreed upon grade average during his high school junior year (both I and my son were deficient that critical year). I explained the potential of each coin as I saw it and asked him to do further research on his own. He chose the Buffalo. I suppose there is a teachable moment here when I am able to figure it out.

  30. dan says

    TomP

    Teachable moment- He made the right choice, he kept his grades up. Worst case scenario, he still got an ounce of gold and another lesson, things dont always go as hoped or planned even though he made and informed decision.

  31. EvilFlipper says

    Watch the proof AGE sales. I might snag 4, flip 3 and keep 1 if these sales stay this low. I could see the price doubling. It’s tough to get a read but I still see gold and PM’s tanking with the economy….. at first. Then I can see a mad dash for gold and the maybe a surprise for all us collectors and flippers;) This stuff can change soooooo quickly you literally have to keep up every hour. Thanks for the blog Michael. You provide an invaluable service and paid for a week at St. John’s USVI for me and the wifey because I was able to keep up with the coin market so much easier due to your blog(s).
    It’s tough to see the mintages not dropping even further every year if the markets stay this volatile. Just buy a few sets, flip a few and always keep some powder dry. It’s easier to flip on the high demand sets like the AGE,PGE, and silver GE’s than it is on the other mint products.

  32. Goat says

    TomP
    Was big /small and issue? Not that small might win? Tort(slow)/hare(fast) who won? At that age I would have thought bigger is better, today after being spanked by wisdom( STILL NOT WISE) is whoever can help I will listen. Many Thanks To This Site! It’s about long term, what will happen?

  33. bigdawg says

    it has been my experience if you wait about 6 months or so until the excitement goes away ,these will go down ,look at the 2011 w already has gone down ,before this issue of 2012 low mintage ,and if gold would be alot higher you would be better off with 2 1oz gold eagles from any year to resell,because of some of the crazy prices they are asking for ms 70’s you can buy a 1 1/2 oz of gold right now . thats what i have done in the past

  34. Micro says

    Regarding the SSB Unc. going to backorder, have any of you had a backorder actually fill recently? I have only tried to buy a backodered coin once, just to have it cancelled by the mint about a month later.

  35. Ed says

    Wasn’t the mint supposed to mint gold and silver products in quantities to meet demand from the public? Are they having problems sourcing blanks (again)? We may be continuing in a recession, but people are still trying to put something back for a rainy/snowy/hurricane/TEOTWAWKI day. Plus, given the worldwide demand for a certified coin as opposed to a goldclad wolfram bar, they should be running three shifts a day, 7 days a week to meet demand at current prices.

  36. KEITHSTER says

    Sorry but I for 1 would like to thank the Mint for not striking more AGE unc’s. And for hearing our call for low mintage collector coins.Seems the one’s calling kill them now forgot to get this one.But now know that a young eagle is Hope for the future where as an old buffalo is coming to an end soon.I got 2 one for me and one for my nephew so that’s how the 25ther’s felt towards the crybaby’s oh well GOOD luck?? to all???

  37. William says

    Gold Eagles…how about a turkey.

    With Thanksgiving approaching , maybe it is time to remember Ben Franklin.
    Didn’t he say the National bird should be a turkey? It would make an interesting coin. Ben Franklin on one side and a Tom on the other.

    Happy veterans day.

    Barnacle Bill

  38. John C says

    When I read this post about the early sell out I figured maybe I could locate some for sale on the internet other than ebay since those were already snapped up by Friday night. So I searched and found that coinadvisor.com had them listed on their site for 2450 for a first strike pcgs ms70. I figured not a bad price so I purchased four of them. The order went through and my card was authorized and the payment was accepted. I had a feeling that the site had not yet got the news that they were sold out at the mint and adjusted their prices accordingly. But I figured since I had placed the order before they had time to adjust the price that as a legitimate business they would fulfill their obligation. I was WRONG here is what I was just e-mailed.

    Johnl,

    On Friday we received multiple orders for the same product and our online shopping cart malufunctioned and allowed all of the orders to process even though we only had one unit available. Saturday, we made sure all of the charges were voided out before they processed on credit cards.

    We are very dissapointed that our system let us and our clients down and are working hard to fix the issue. Our buyers are trying all avenues to bring in some more of this item and you will be given an opportunity should we be successful in bringing in more of this item.

    Again, we sincerely apologize for this malufunction and will do everything possibe to bring in more of this item.

    Regards,

    CoinAdvisor.com Managment Team

    here was my response……..

    That’s bull and you know it, I’m going to blog about this all over the coin blogs and internet so people will not do business with you in the future. I’m even going to copy this e-mail and post it everywhere. You already accepted my credit card and processed the payment you should keep your promise and complete the transaction…….I knew this would happen. I had an opportunity to purchase these coins elsewhere but now I do not. I will consider legal action against you.

    So I’m now doing my part in spreading the word that these people do not have a morale compass. I do not believe that the computer let items into a shopping basket that were not part of their inventory. They just simply chose not to honor their agreement. Shame on them. I am also curious if anyone on this site got the same e-mail

  39. simon says

    If PM’s go up and there is always a 50% chance they will you will see more of the same in years to come.

  40. Louis says

    JohnC- Most dealers reserve the right to change the price of items in the event an out of date price is listed. Did you check the fine print?

  41. VA Bob says

    For better or worse I never chase the low mintages. The Mint is too inconsistent on what it will or won’t continue selling. Besides, I personally don’t believe we have hit bottom on rarities. I’m hoping to pick up the Buff set next year, as I have collected the proofs from the beginning, but that could quickly change if the gold prices get crazy.

    On a side note, I wonder how many Mint insiders got a phone call before the AGE plug was pulled? If I worked there I’d probably give my collecting friends a heads up.

  42. RSF says

    John C –
    I experienced a similar fraud in dealing with Fox Chase Coin(Mike’s Coins) out of Philadelphia. If the value of an item sold goes up before they ship it, they give similar excuses and delay after delay until it has to be disputed through PayPal. PayPal is as much to blame as the dealer in their allowance of the dealer to walk away from the transaction with just a refund.

  43. ClevelandRocks says

    Thanks John C. for your vigilance.
    Anyone see the point of continuing to buy clad proof sets directly from the Mint?

  44. wing says

    Kudos to Silvertowne on a similar situation I had with John C.
    I purchased 2 Garfield Unicirculated from Silvertowne after they were backordered.
    I believed they were sold out from them too and I was expecting a cancellation from them. But after three weeks, they actually shipped to me. I could be wrong, but I believe they kept their word and brought them from other dealers to fulfill my order.

  45. Russ says

    John C
    Let me get this correct, you had 4-1/2 months to buy these from the mint at the issue price. You had the money available on your credit card as you stated. But now that you are aware of the potential value of these and you are unable to get them at the price it was before everybody knew they were sold out and your upset. 🙂

    Get real, this is big business, a flippers chance to make a few more bucks.
    The way I see it is that if you buy 4 of every product the mint sells sooner or later you will hit the jackpot. It takes big money to make big money. Most people (myself included) dont have that kind of money to invest on a chance thier coins will make big swings to the positive.

    I have been a collector only for a few years but one thing I learned from this blog is Collect what you like, COLLECT FOR THE FUN OF THE HOBBY, Purchase when coins are first issued if you can, (Not so lucky on the 25th ann set). When you gamble with the system in place, you are probably gonna loose.
    I hear the sounds of a violin, a very small violin.
    Better luck in the future, please read your post again. Your post won’t stop me from consideration from buying from this vendor if they have something I want to buy for the price I am willing to pay.

  46. simon says

    SilverTowne is a good act. I do purchase from them. I do however find their website painfully sloooow, and I have a 12 MBS connection.

  47. posterhunter says

    The No Longer Available section of the mint website has been broken for months, it is not correctly showing any products that have recently been sold out.

  48. Rick says

    Sure I agree with Russ, you didn’t buy just one, but four of them. Your greed is equal to theirs. You and they knew they just jumped up 1000.00 per coin in one day. Most ebayers would do the same to you too – keep them and say that it’s no longer available.
    With that said I do think you got shafted. They could have at least given you one of them.

  49. psychdr says

    I also just watched my 2011 Unc AGE become bullion although I guess if it ultimately sells at spot or slightly above that this is some measure of balance. Given I also recently purchased the 2012 Unc AGE MS 70 autographed by JM I have in hand a new low norm likely worth what I thought last years might have been for at least a few more months. Perhaps this equity deflation process occurs next year with the release of 2013 Unc Age and the possible establishment of another low norm. I think Im confusing myself with all this…but I must say I do like for the 2nd “moment” owning the coin to have.

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