The United States Mint reported a second week of rising sales, as the 2010 Proof Set attracted buyers en masse and cheaper prices lifted gold coin products.
Proof gold Buffalos rallied higher for a second straight week, and demand climbed for all eight First Spouse Gold Coins — that has not happened since the beginning of June when the Jane Pierce options were issued. There may be other reasons in play, but their price cuts last Wednesday were a factor.
The global reach of numismatics is on full display with Heritage Auction Galleries’ Official American Numismatic Association World Coin Auction, to be held Aug. 12-16, at the ANA in Boston, MA.
"We’ve put together a very strong sale for our first official ANA World Coin auction," said Cristiano Bierrenbach, Vice President of International Numismatics for Heritage.
"There are interesting lots from every corner of the globe but especially from Brazil, China, Great Britain, Russia and South Africa. There are also superb selections present for Spanish colonial collectors and the incredible collection of U.S. regulated world gold coins should set standards for this market."
One of the three known proof 1804 Eagles made on behalf of President Andrew Jackson and a rare 1804 Eagle silver pattern have been acquired by Legend Numismatics of Lincroft, New Jersey and sold to a Texas collector.
Both coins will be publicly displayed together for the first time at the upcoming American Numismatic Association World’s Fair of Money convention in Boston, August 10 – 14, 2010.
Demand picked up last week for American numismatic coins as compared to the prior United States Mint sales report which showed just four products registered week-over-week gains.
The latest round of numbers have all but ten U.S. Mint products surpassing prior sales, with seven of those coming from smaller Presidential $1 coin offerings.
The bigger dollar items that fell lower were three of the eight First Spouse Gold Coins — both Jane Pierce Fillmore $5 gold coins retreated, as did the proof Margaret Taylor. Prices for all coins in the series were adjusted lower by $25 late Wednesday afternoon, which should help lift their numbers this week.
A House of Representatives subcommittee hearing on Tuesday revealed better odds in minting proof and uncirculated 2010 American Silver Eagle coins. But what about 2010 proof American Gold Eagles?
During the hearing, U.S. Mint Director Ed Moy spoke of his support for legislation that would redirect a portion of silver planchets from legally mandated bullion coins to discretionary proof and uncirculated silver dollars. (Read Proof Silver Eagles Possible.) Subcommittee members and panelists voiced no opposition in amending current law to make them possible.
"Such a change would be one of the most positive customer satisfaction measures that could be taken to benefit your coin collecting constituents without having an effect on American’s ability to acquire investment-grade silver bullion," Moy testified.
