The latest sales figures indicate that 96,275 coins have been sold as of 9/27/2009. This represents sales of 1,811 coins for the preceding week. For the past several weeks before, the UHR Double Eagle had been selling more than 2,000 coins per week.
The prior week reporting period contained some changes that I thought would spur additional sales. The household ordering limit was completely removed on September 21, 2009, which opened the doors for any potential bulk buyers. The price for the coin was increased from $1,339 to $1,389 on September 23, 2009. Since the price increase was widely known in advance, any would-be buyers might have accelerated purchases to take advantage of the lower price. Despite these two factors, the pace of sales actually showed a decline from recent levels.
Incidentally, it seems that the gold coin price increase implemented last week will be very short lived. The average price of gold calculated from last Thursday London AM Fix to this Wednesday AM Fix is below the $1,000 level. Under the US Mint’s numismatic gold coin pricing policy, the prices for coins will be adjusted downwards proportionally by $50 per ounce.
The price of the UHR Double Eagle should fall back to $1,339. The First Spouse Gold Coins should also be adjusted downward to $654 and $641 for proof and uncirculated coins, respectively. Recently, pricing changes have been implemented mid-morning on Wednesdays.