2013 Proof Gold Eagles

Today, April 18, 2013 at 12:00 Noon ET, the United States Mint will begin sales of the 2013 American Gold Eagle Proof Coins. The available products will include individual one-tenth, one-quarter, one-half, and one ounce size coins, as well as a four coin set option. For this year, maximum mintage levels have been reduced and initial prices will be lower, following the decline in the market price of gold.

American Gold Eagle

The American Gold Eagle features Augustus Saint Gaudens’ depiction of Liberty from the classic double eagle minted from 1907 to 1933. Liberty is depicted holding a lit torch and olive branch with the rays of the rising sun and the US Capitol building behind her. Fifty stars surround the image. The reverse design features Miley Busiek’s depiction of a family of eagles with inscriptions indicating the precious metal weight and legal tender face value.

Last year’s Proof Gold Eagles experienced historically low sales, with none of the product options reaching even half of the established maximum mintage levels. Accordingly, the US Mint has trimmed the product and mintage limits for this year’s offerings. The individual one ounce and four coin set options are reduced by 10,000 units. The individual one-tenth ounce and individual one-quarter ounce are down by 5,000 and 2,000 units respectively.

The initial prices for this year’s offerings are lower compared to the prior year. A lower average market price of gold has offset some higher premiums built into prices following the adoption of a new pricing grid. The initial prices for last year were based on a gold price in the $1,650 to $1699.99 range. The initial for this year are based on a price in the $1,450 to $1,499 range.

A summary of the product limits, maximum mintages, and initial pricing for the 2013 Proof Gold Eagles is shown below.

2013 American Gold Eagle Proof Coins
Product Limit Mintage Limit Initial Price
1 oz. 20,000 40,000 $1,810.00
1/2 oz. 10,000 30,000 $920.00
1/4 oz. 10,000 30,000 $472.50
1/10 oz. 20,000 40,000 $200.00
4 Coin Set 20,000 N/A $3,352.50

With the market price of gold now within the $1,350 to $1,399.99, a price decrease might be possible for next week. The US Mint determines the average market price based on the London Fix prices from the Thursday AM to Wednesday AM and makes an price adjustments around mid-morning Wednesday. The possibility of a price decrease in just a few days may serve to dampen opening sales levels.

Beyond this period, it might be possible that lower precious metals prices might reignite some interest in the offering. Over the years, higher metals prices have served to price some collectors out of the market and sales levels have dwindled. Unlike some other offerings, the US Mint also offers a full range of fractional weight options to make the coins available across a broad range of price points.

If sales of this year’s coins prove to be stronger than the prior year, this may add some luster to the 2012 Proof Gold Eagles. Each denomination closed sales at a new mintage low for the respective denomination in proof format.

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Comments

  1. merryxmasmrscrooge says

    In 2006 the 1 oz Buffalo was about $900, so I think I will have to scrooge out on this one.

  2. Dan in Fla says

    I’m in for these beauties but I might wait until next week to see where things go.

  3. says

    I’m rather dubious these will sell all that well given the premiums. $1810 is just way too much when gold is hanging around $1375-$1400, especially when those premiums tend to fall on the secondary markets. The US Mint needs to get real on pricing.

  4. Dan in Fla says

    Michael- Please tell me what the difference is between product limit and Mintage limit as I do not understand.

  5. thePhelps says

    Right now gold is too unstable for me to invest in these coins. Especially when they could go down next week…

  6. charles says

    Dan…add the product limit of the 4 coin set to the product limit of the individual coins and you get the mintage limit of each coin.

  7. vaughnster says

    @Dan– Product limit refers to how many each household (mailing address) can buy of one item. Mintage is the amount the Mint produces of an item. For example, the 25th Anniversary Silver Eagle set in 2011 had a total mintage of 100,000 sets but a limit of 5 sets per household was instituted to help distribute them to a broader base (theoretically.)

  8. says

    Dan,

    The product limit is the limit on “single sales” of a given product. The mintage limit is the total number of coins minted. So, the product limit for the one ounce variety is only 20K, meaning only 20K “solo” one ounce proofs will be sold. However, the 40K mintage limit is the total number of coins that can be minted across all product options (which are basically just the solo one ounce coin and the four coin set).

  9. stephen m says

    I purchased in 2001&2002 a four piece proof gold set(s). For 2003 just the 1 ounce gold proof coin. As much as i admire these proof gold coins i’ll have to pass and wait and purchase when and if the price of gold is much lower.

  10. thePhelps says

    Product limits – isn’t household limts. Those are usually displayed on the purchase page.

    No product limits are almost always stated on most gold and silver products.

  11. Dan in Fla says

    Thanks everyone I get it now. The product limit is per item and the mintage limit includes all options listed.

  12. thePhelps says

    That last line shoudl say @Samuel no this is the 1st time the mint has stated product limits.

  13. thePhelps says

    Samuel…yeah – you could if you can afford to buy thousands of them… usually a household limit is stated in the offering – some were speculating the new silver ASE would have a household limit of 3 to 5 sets (it doesn’t). The mint will state on the purchase page a household limit if they are only going to send a set number of items to that address or purchaser.

  14. charles says

    thePlelps…the mint has stated the product limit on proof gold eagles for several years…this is nothing new.

  15. Ray says

    I think most peope are gioing to wait until next week to buy these AGEs. THat may give us an alltime low for opening day of sales, which in turn may drive more purchases with people keying in on new possible key dates. pure speculation but i’m interested to see next tuesdays numbers. speaking of the weekly report, is there somewhere i can go on the US Mint websote to get specific product sales #s on a daily basis?

  16. Hidalgo says

    Is there any significant advantage (other than saving a few bucks of say, $20 – $30 or so) of buying the three-coin proof Generals proof set over buying each coin separately?

    Have similar three coin sets performed significantly better than individual coins in a set?

    I realize packaging can play a role….

  17. Hidalgo says

    @Paul –

    FYI…..

    When I placed my order for the 3 coin proof Generals set on April 3rd, I paid $546.50 for it at the time. The set was backordered to April 10, 2013. Then the US Mint’s system moved the backordered date forward to what it is now…. May 31, 2013.

  18. T1 browserman says

    I’ve got a question:

    WHY does the NEW pricing grid go as high as $3,000/oz avg spot on Au & Pt !?!

  19. simon says

    Hidalgo:

    The best benefit is you get the three proofs in a single “limited”
    package. The coins themselves are abundant but if there is
    sudden fancy for the packaged set in following years it may bring in a
    small premium. They did the same for the bald eagle proof
    set but it has not appreciated. I picked up a set just because
    I thought it would be cool to have.

  20. Louis says

    Ray- Sales #’s are only released once a week and sent to coin editors and writers like Michael and me, CoinWorld, etc.

  21. Hidalgo says

    @Simon – thanks. As I thought. That is what I noticed from eBay prices of one recent set.

  22. thePhelps says

    @charles…I mistyped that again. I was trying to respond to 2 questions in 1 answer. I agree the product limit is not new.

  23. posterhunter says

    The mint is thinking about doing a 4 coin reverse proof set of Kennedy halves for next year.

  24. says

    Posterhunter,

    Really? Got a link to an article or announcement? I knew next year was the 50th Kennedy half anniversary and had been hoping for some nice commemoration like that. The Kennedy half is probably my favorite “circulating” coin.

  25. thePhelps says

    There is a post on the Coin Community Forum – apparently a customer survey has gone out to some people asking for input. 2 different sets are discussed – a 4 coin (P,D,S,W) reverse proof silver half and a similar release in clad. ($77.95 and $16.95)

  26. says

    Yeah, I wonder what that will be worth five years from now?…I guess, as always, what someone else is willing to pay!

  27. says

    Regarding the possible 2014 Kennedy Half reverse proof set….What I’d like to see is a set that displays the history of the half dollar. Include the original obverse & reverse of the Franklin, Walking Liberty and Barber half dollars…or maybe even farther back in time…all in reverse proof.

  28. hi ho silver says

    When the first spouse coins came out I was gonna try to get a set of the various non spouse presidents (flowing hair,bust,seated lib ect.) Which would represent all the early halfs, but the mint screwed up with the sufferget spouse instead of the barber design.

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