Proof and uncirculated 2009 American Eagle Gold Coins are temporarily suspended, the United States Mint is now announcing in the latest statement from its online store.
The coins are struck for collectors and include the "W" mintmark, unlike the 2009 bullion versions intended for investors — although many coin collectors purchase them — and already available through the Mint’s authorized purchasers, coin dealers and precious metals sellers.
Unprecedented demand for gold coins
The announcement comes just days after the 2009 silver eagles suspension, and before any of the coins were ever placed on sale. Just like the silver eagle statement found on the US Mint’s store, "unprecedented demand" was given as the reason, which has forced the Mint to focus on its mandated requirement to provide bullion coins.
Worldwide demand for gold and silver coins is again at a high this year, as it was in much of 2008 and part of 2007. So much so that the mainstream press has picked up the ball. News reports are now flowing about the sharp interest in possessing precious metals and gold coins. (As an example, read the Friday article from Reuters: World mints report soaring demand for gold coins.)
US Mint statement on suspending gold coins
The following is the statement located on the US Mint proof and uncirculated gold eagle pages:
Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins "in quantities sufficient to meet public demand . . . ."
The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.
"Gold blanks" in the statement refers to the metal discs from which coins are struck. Different from other world mints, like The Royal Canada Mint and The Perth Mint of Australia, for example, the United States Mint relies on third party suppliers for its coin blanks.
2009-dated US gold coin availability
2009 American Eagle Gold Bullion Coins are available from the sources previously listed. Current eBay auctions for these coins have BuyItNow prices as low as $1,120, which is nearly $200 higher than Friday’s gold spot price.