Individual One Ounce 2011 Proof Gold Eagle Sold Out

On Friday, the US Mint officially sold out of the individual option for the one ounce 2011 Proof Gold Eagle. The coin does remain available for sale as part of the four coin set.

I believe this is the first 2011-dated US Mint numismatic product to achieve a sell out of the maximum product limit.

The 2011 Proof Gold Eagles originally went on sale April 20, 2011. The original price for the individual one ounce coin was $1,735, which was adjusted throughout the course of the offering based on the average market price of gold. During the course of the offering the price ranged from a low of $1,735 to a high of $2,135. At the time of the sell out, the price was $1,935.

The maximum product limit for the individual option was 30,000 coins. The limit for the four coin set is 40,000. Sales for the set have reached 11,765 based on the latest available data.

The individual one ounce 2011 Proof Gold Eagle had been just under the sell out level for some time. Near the end of August sales exceeded 29,000 units, and then reached 29,917 in the following week. For the next several weeks, sales reports indicated negative or minimal sales. Finally, the latest report covering the week ending October 10, showed a big jump which brought total sales back near the sell out mark.

The period of slow and negative sales figures coincided with the recent decline in the market price of gold.

In an interesting bit of news, the US Mint has recently extended their numismatic pricing grid to cover average gold market prices up to $2,999.99 per ounce. Previously the chart only went up to $2,049.99.

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Comments

  1. Two Cents says

    Sorry this is off subject, but I found the following update on the 25th Anniversary Silver Set in the Oct. 31 issue of Coin World:

    According to Oct. 12 statements from Tom Jurkowsky, Director of the Mint’s Office of Public Affairs, mintage of the set is confirmed at 100,000. All of the coins for the set, including the unique Reverse Proofs and “S” mintmarked Uncirculateds, have already been minted and placed in plastic capsules. The coins will be assembled into the sets at the San Francisco Mint at the end of October, and shipment is expected to commence in late November.

    Regarding the individual coins, the “W” Proof , “P” Reverse Proof, and the “W” Uncirculated (burnished finish) coins were struck in late August and September. The “S” Uncirculated (burnished) coins were struck in Sept. and Oct. The bullion coins included in the set are the ones minted at the San Francisco Mint (with no mintmark).

    Jurkowsky said that for the Reverse Proof coins, “The entire die face is brilliantly polished using hand and auto-polishing techniques, the flat field area on the die is then textured using a laser finishing system and the detail and artwork remain polished. The dies are then coated with chrome-nitride that is applied using a physical vapor deposition process.”

    Not mentioned was the set’s price, except to say that “pricing will be set as close as possible to the release date and is subject to change throughout the life of the program.” As for the so-called “custom-designed, highly-polished, lacquered hardwood presentation case,” Coin World used the image from the Mint’s website, so nothing new on that.

  2. EvilFlipper says

    Let me just say, i am a firm gold believer but its about to go down hard. Not permanently i might add but i think the euro dumpmwill take it down. Im just hoping it happens BEFoRE the 25th set goes on sale. I love the gold proofs but i am more looking forward to the burnished gold eagle. I will hopefully trade some 25th anniversary profit for some burnished gold!!

  3. Brad says

    Maybe the people at the Mint really DO read this blog. I just clicked on the link that “Tom” provided in the comments section of the last post, which showed the product index and a $229.95 price for the 25th Anniversary Silver Eagle Set. Instead of that page, it now brings up the preliminary product page. I was just trying to see if it still showed that price, but I can’t even find it now.

  4. Brad says

    Never mind, I found the product index and the price is still shown as $229.95. For some reason, the link that Tom provided in his comment now takes you directly to the product page that still says “price to be determined.”

    Wouldn’t that be SWEET if that really was the price the Mint has in mind to sell the sets at? It has to be a mistake, but I can dream, right?

  5. Hidalgo says

    I think I lucked out guys. I bought an Australian 2012 Year of the Dragon Typeset from the Perth Mint for about $330.00. I just checked eBay and the last four sets sold for: $921.00, $1085.00, $920.00, and $ 1,000.94.

  6. Frank says

    The 25th anniversary ASE set is listed for $580+/set on ebay. So it probably wouldn’t appreciate as much as the Australian 2012 Year of the Dragon Typeset does. But we will see…

  7. VA Bob says

    You have to act quick on those Perth Mint manufactured rarities. Interest in them dies down pretty quickly as the next one comes out of the press. Many collectors consider the enameled and gilded versions as gimmicks, not unlike enameled ASE’s. Two or three years ago APMEX was selling the gold enameled cows (I believe it was that one in the Chinese Lunar series) for melt (They were fractional) around Christmas time. They are nice looking, just be careful if your looking at it for an investment. That said one should collect what they like.

    Looking forward to the 25th ASE set. Getting quite a chuckle over what some will pay on the Bay for them, initially anyway.

  8. BigHock says

    A Poem entitled “Vows He Set, Coins He Bet”

    There once was a collector who bought by the ounce,
    the price was too high, and on his head his wife wound trounce.
    He kept buying more, and gave his friends a scary Halloween bet,
    he loved coins too much and his wife would stay when he bought the next set.
    He floundered and paced. But he placed his bet and bought a set divine,
    … And now with her lawyer he is signing on the dotted line.

    – BigHock
    (I think I will need to shack up with the coins soon)

  9. limalo says

    I know what you mean, BigHock. My wife gave me a choice; either her or the coins. I’m sure gonna miss her!

    LL

  10. Two Cents says

    Andrew,

    According to the Mint’s last sales report, 6,161 Unc. Gold Eagles and 182,100 Unc. Silver Eagles have been sold. Both have the “W” mintmark and have the burnished finish.

    The next sales report should be out tomorrow.

  11. A&L Futures says

    I’m sure this question has already been asked, but does the U.S. Mint have any plans on releasing a 25th Anniversary gold eagle set?

  12. VA Bob says

    Louis – I’m not knocking the folks that like these – the dragons are kind of nice. I usually pick up a kookaburra and koala each year myself, but the $500 gilded example personally looks a bit to “Franklin Mint-ish” to me. Like I said pretty, and with >118K 1oz. minted, a pretty big run (the 2000’s) for the Perth Mint. If Gainesville can get that kind of price for them, that’s great. We see what an ASE with a little more than 22K, less pieces minted than the 2000 dragon brings (1996W). Personally I hope everyone here realizes a big appreciation on their collections. I’d just like folks to be careful (if they are doing it for investment purposes). For every coin that’s a winner, there 100’s that are losers. Of course PM’s are a bit safer bet.Thanks for the reply and sharing the link.

    Three Cents – Cool, good info, but it sounds like a process that you are mentioning (which can also be true of some enamels). Any idea what material the colors are composed of? IMO enamels would be the hardest and most fade resistant, There are varieties that wouldn’t necessarily be required to be baked on. Perhaps an acrylic. I’d be interested to know the composition just for the sake of curiosity.

  13. Louis says

    VA Bob: Thanks for your comments. You and others may be interested that yesterday I was talking to my local dealer about the 2012 silver bullion dragons (300K) made, which can be had for $100 retail, and he told me he can’t buy any wholesale for less than $95. I thought that was an interesting fact. In fact, MCM, has them for $97 now. I would not suggest buying a lot of them, but if you like the coins, I think they are likely to at least hold their value and probably go up over time. The regular silver ones from 2000 also go for around $500 now, and that is at MCM (for an MS70 I think).

  14. Samuel says

    Louis,
    Do you think the gold gilded dragon (50K) is better then the 300K one? It is cheaper from Perthmint and has a case.

  15. Louis says

    Samuel:
    MCM is Modern Coin Mart, which sells modern U.S. coins. As for the gilded dragon, I think it will ultimately sell for more than the bullion one. The mintage is 50K instead of 300k and already just about everyone except Perth is sold out. The color one, which is limited to 10K, sold out really fast and now goes for about 2.5 times the original cost. Dragons are by far the most popular of all the Lunar coins.

  16. J pay says

    all sets was sold out in less than 4 hours i just got in after 5 hours of calling and on computer i am on waiting list?????????

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