UHR $20 Gold Coin Limits Rise

2009 UHR $20 Gold Coins will become easier for collectors to buy Monday. Order limits increase from one per household to ten, the US Mint announced this week with the following message on its Web site.

Effective July 27, 2009 at 12:00 noon (ET): The United States Mint will adjust the household order limit on the 2009 Ultra High Relief Double Eagle Gold Coin from a limit of one (1) coin per household to ten (10) coins per household. The household order limit will be re-evaluated on a regular basis and the United States Mint will either extend, adjust or remove the limit as needed.

The gorgeous coin launched with great excitement on Jan. 22 and to exploding sales — despite the 1-coin limit and initial $1,189 price tag. 28,173 were purchased on day one, 40,727 by day four. The US Mint generated nearly $50 million in new sales during those first few days alone.

As typical with new issues, sales declined as the weeks progressed. They were at least partially hampered by the household limit the US Mint used to "ensure the broadest and most fair product access." Additionally, the price of gold also climbed which increased the UHR’s price (now listed at $1,289, or $100 more than the original cost).

Sales numbers have fallen to less than 1,000 a week in recent months. The biggest excitement turned to watching realized prices of uncertified and graded examples in the secondary market. (See current eBay auctions.)

While short term UHR prices for graded coins are less likely to be affected, if at all, by the Mint’s higher order limit, uncertified prices in the market place should decline with increased availability.

The 24-karat, .9999 fine gold piece is digitally reproduced from Augustus Saint-Gaudens’ original ultra high relief 1907 Double Eagle. Its smaller 27mm diameter makes it more than 50 percent thicker than modern US Mint gold coins. The UHR is limited to a single year of issue, and may be purchased from the US Mint here.

As of Sunday, July 19, the Mint reported that 70,385 UHR’s were purchased by collectors.

[Editor's update: The US Mint increased limits again in late August. For more, including the latest sales numbers for the coins, read UHR Coin Limits Rise Again.]