The opening sales figures have just been released for the 2013 Proof American Gold Eagles. After years of declining sales, this year’s numbers are showing some signs of stabilization, with a small increase over last year’s opening figures.
The table below includes the sales figures for each product option from the start of sales on April 18 to the reporting date of April 22. The maximum product limit established by the US Mint is also included, along with the percentage that has been sold so far.
2013 Proof Gold Eagles Sales
|4 Coin Set||1,159||20,000||5.80%|
These figures were reported in the weekly United States Mint numismatic sales report published today on Coin Update.
The strongest seller was the individual one-tenth ounce coin, which is not typically the case. Usually, the individual one ounce size has been the top seller.
As mentioned last week, it is possible that some buyers may be delaying their purchases until this week to see if prices will be adjusted lower. The coins began sales based on an average market price of gold in the $1,450 to $1,499.99 range, although at the time the market price of gold was two tiers lower. Particularly for the higher priced options, there was plenty of incentive to wait and see if prices would be lowed in just a few days. This might explain the higher sales for the lowest price option.
The following additional table shows the opening sales figures for Proof Gold Eagles for the past four years.
Historical Proof Gold Eagle Opening Sales Figures
|4 Coin Set||7,147||3,988||1,084||1,159|
As can be seen, there was a steep decline from 2010 to 2012. The US Mint had cancelled the Proof Gold Eagle offerings in 2009, which resulted in a burst of pent up demand for the return of the offering in 2010. The following year, some of the enthusiasm subsided, and then levels dropped further still to extreme lows in 2012.
For 2013, the opening figures show an increase compared to the prior year for all options except for the individual one-half ounce coin. Across all options, the total ounces sold rose by about 6% from the prior year. Going forward, the sales figures for these products may be closely watched by some to see if there is a sustained rebound in demand which would serve to solidify the low mintage status of the 2012 proofs.
Numismatic Gold and Platinum Price Decrease
Based on the available data, it does seem likely that the prices for the US Mint’s numismatic gold and platinum products will be decreased tomorrow. As most readers will know, the US Mint prices gold and platinum products based on a grid and adjusts prices weekly based on the average market prices of the underlying metals. Price changes take place when the weekly averages move into higher or lower tiers, established at $50 intervals.
The London Fix prices for the weekly period so far indicate average gold and platinum prices both within the $1,400 to $1,449.99 range. Currently, products are priced based on the $1,450 to $1,499.99 range.
London Fix Prices
|April 18 AM||1,397.00||1,430.00|
|April 18 PM||1,393.75||1,432.00|
|April 19 AM||1,414.00||1,439.00|
|April 19 PM||1,405.50||1,425.00|
|April 22 AM||1,425.00||1,430.00|
|April 22 PM||1,424.50||1,434.00|
|April 23 AM||1,417.25||1,416.00|
|April 23 PM||1,408.00||1,417.00|
|April 24 Am||?||?|
In the most likely scenario, as long as tomorrow’s AM Fix price is below $1,450 then a price decrease would take place. The same scenario applies for both gold and platinum products.
The numismatic gold products which would see their prices decreased by the proportional equivalent of $50 per ounce of gold content include the 2012 First Spouse Gold Coins, 2013 commemorative gold coins, and 2013 Proof Gold Eagles. The single platinum numismatic products is the 2012 Proof Platinum Eagle, which would see its price decreased by $50.