The United States Mint today started selling the four eagerly awaited 2010-W American Gold Eagle Proof Coins. 2010 marks the 24th year of issue for the popular 22-karat gold coins which were introduced in 1986.
Deeper anticipation surrounds this year’s collector proofs after they were canceled in 2009, stunning collectors. The U.S. Mint is required by law to produce bullion coins in quantities to meet demand. The same is not true for the collector or numismatic eagles.
Last year, gold planchets supplies were strained and dedicated to investor-only strikes — these bullion Gold Eagles feature the same design as the collector versions, but do not carry the West Point "W" mint mark, enjoy the extra care taken during production, nor have the mirror-like finish.
2010 is a unique year for the coins in another respect. Gold prices have set a series of all-time records in the past month. That makes the 2010 Proof Gold Eagles with their added premiums more expensive than ever.
The U.S. Mint is selling the coins in one-ounce, half-ounce, quarter-ounce, and tenth-ounce sizes. Additionally, each is included within a four-coin set. All are packaged in a blue velvet, satin-lined presentation case and accompanied by a Certificate of Authenticity signed by the U.S. Mint Director Ed Moy.
The U.S. Mint started producing the coins last month. While their prices can change weekly depending on the prevailing cost of gold, their initial prices, their premiums over spot gold, their mintages and their product limits follow:
|2010 American Gold Eagle Proof Coins|
|*Debuting prices. ** Premiums based on gold at $1,336 an ounce. (From coin prices, premiums and sales.)|
The debuting sales figures for the 2010-W Gold Eagles should be released by mid-next week. As mentioned, their price points will be a factor in setting demand this year. While some collectors have already purchased the strikes, others may be more willing to wait and watch for possible price adjustments.
The current London Fix gold range used to set their prices is $1,300 to $1,349.99 an ounce. On Wednesday, October 13, the U.S. Mint will again average out the weekly gold costs using London Fix prices between this Thursday AM through to Wednesday AM. If the average moves outside the above range, the proof Gold Eagle prices will adjust appropriately up or down by the following increments:
|Possible 2010 Proof Gold Eagle Price Adjustments|
|Price (+ or -)|
Every following week the Mint will do the same check, and change prices, if necessary.
Buyers that decide to wait will risk the possibility of a sellout. However, that would be unusual based on how past year issues have sold. For example, in the last release for the series, the 2008-W American Gold Eagle Proof coin was the first of the four coins to sellout, but it was available for more than nine months.
Orders can be placed at the Mint’s Web site (http://www.usmint.gov/catalog) or by calling 1-800-USA-MINT (872-6468). There are no household limits in place.
The Mint will begin selling the sister 2010 Proof Silver Eagles on November 19, 2010.
The American Gold Eagle bears the distinctive designs of Augustus Saint-Gaudens’ rendition of Liberty, recognized as one of the world’s most beautiful designs, and sculptor Miley Busiek’s equally majestic golden eagle scene meant to symbolize family tradition and unity.
The obverse or heads side of the proof coin shows Liberty with flowing hair and holding a torch in one hand and an olive branch in the other. The reverse or tails side of the coin has an image of a male eagle carrying an olive branch and flying above a nest with a female eagle and her hatchlings.