Sales of the new 2013-W $50 Uncirculated American Gold Eagle Coin logged in at 1,448 between its launch on Thursday and through to Monday.
At $1,725.00 a pop, the United States Mint took in $2,497,800 from early buyers.
Other Recent Sales Starts
Last year’s uncirculated Gold Eagle debuted $103 higher at $1,828. Despite that, it notched stronger opening sales of 1,949 before selling out at 6,118 — the lowest mintage in the series.
On the flip side, the 2011-dated uncirculated Gold Eagle started with lower unit sales of 1,098 when priced at $1,778. It sold out at 8,822.
Here is a breakdown of final sales for all the coins issued since the uncirculated series was introduced in 2006.
|$50 (1 oz)||$25 (1/2 oz)||$10 (1/4 oz)||$5 (1/10 oz)|
Lower Prices for Gold and Platinum Coins
Some collectors could be on standby mode this year, waiting to buy when the Eagle’s price falls. The U.S. Mint adjusts prices on its numismatic gold products based on a weekly average of London gold fixings. The last average was $1,402.78, which is a mere $2.78 above the point that calls for a lower uncirculated Gold Eagle price of $1,675.00.
As it turns out, those who waited may be the wiser as gold is down from last week. Wednesday’s gold fixings must still be considered but if the PM gold Fix is under $1,400 an ounce, then expect all numismatic U.S. Mint gold coins to undergo pricing reductions of $50 for every ounce of the precious metal they contain.
This includes the uncirculated and proof 2013-W American Gold Eagles, the proof 2013-W American Buffalo gold coin, the 2013 commemorative gold coins and all the First Spouse Gold Coins.
Also, there is a chance that the U.S. Mint’s only platinum coin, the 2012-W Proof American Platinum Eagle, could actually have its price raised. The Platinum Eagle’s price was last changed on May 1 when London platinum fixings moved up to within $1,450 to $1,499.99.
Platinum has performed better than gold lately, and its average now tops $1,500 an ounce. If Wednesday’s AM fixing is above $1,468.95 an ounce and the PM fixing is higher than $1,500 an ounce, the price of the proof Platinum Eagle will go from $1,850.00 to $1,900.00.
When the U.S. Mint adjusts gold and platinum coin prices, it tends to do so near 12:00 noon ET on Wednesdays.
This article will be updated with what actually happened.
Update: The United States Mint on Wednesday did reduce prices on its numismatic gold coins but it did not change the price of its proof Platinum Eagle.
Anyone may buy numismatic products from the United States Mint at http://catalog.usmint.gov/ or by calling the toll-free number 1-800-USA-MINT (872-6468).