The United States Mint’s first-ever $100 gold coin is an official hit. New 2015-W $100 American Liberty High Relief Gold Coins are selling fast, with a waiting list for them now temporarily in effect. The coins will move to "Back Order" status soon, meaning more will be available.
Released today at noon, coin sales climbed over 64% of the 50,000 mintage in 2-1/2 hours and then topped 70% within 4 hours, according to Adam Stump, deputy director of the U.S. Mint’s Office of Corporate Communications. At that point, the Mint’s inventory ran out.
"We have taken orders for more than 35,000 coins and the website, which currently shows ‘Unavailable’ should be updated at some point in the next day that the item will be on backorder," Stump said in an email.
Here’s the Mint’s description of Back Order:
"When products are in ‘Back Order’ status, this means that the product is available for sale, however there is no inventory in stock and a future ship date is displayed on our website. Products in this status can still be ordered online or through the Customer Contact Center."
The one-ounce, .9999 fine gold coin isn’t exactly cheap at $1,490.00. But buyers did catch a bit of a break since it just missed opening $50 higher. The Mint didn’t, as that represents a $1.75 million difference to them based on a 35,000 total. Coin sales for that same amount do tally to a sizable $52.15 million in gross revenue.
It’s a home run for the Mint, as was the agency’s website performance while ordering. We haven’t heard of any complaints from customers and, for us, it was nothing but smooth sailing despite the obvious behind-the-scenes traffic.
"The high volume in such a short amount of time shows customers were able to get into the system and complete their order quickly whether it’s an average coin collector or a dealer," Stump added.
With that said, the Mint’s website is currently showing the coin as unavailable, giving the potential impression that it has sold out. Skipping the "Currently Unavailable" status and going straight to "Back Order" status would have kept orders flowing and reduce confusion.
To join the high-relief $100 gold coin waiting list, visit the Mint product page for it right here.
It might be a home run for the mint but I think the buyers hit into a triple play .It will be years before they make their 35-40 percent premium back. I just bought Kruggers for $1126.
Got in 5min. after 12 but got out 30min. later. Still got mine and First Day of Issue and hopefully an NGC MS-70 grading will add another $400.00 to $500.00 in it’s worth. Low gold pricing couldn’t have come at a better time, $50.00 off initial price. Let’s see what happens next year when the Dime, Quarter and Fifty Cent piece will do. I hope they make them in Proof and US MINT take notice, make one in the Morgan Dollar! Please!
On ebay for a U.S. Mint 2015-W American Liberty Gold High Relief $100 coin yesterday morning Wednesday July 29, 2015, two buyers paid $1,749.00 each for Buy It Now Item #151759849566 from seller nowcoin. Today Thursday July 30, 2015, on ebay seller peterdstollwerck sold Item # 111708644824 to two buyers who paid Buy It Now prices of $1,850 and $1,799.95 each for these gold coins.
Good move ToppCat and you’re right, the mint has definitely reached its goals. Unfortunately and its a sad thing to see, lots of these purchases are for quick flips (John), even dealers pay you to buy for them and turn around and score majorly on Ebay. It’s the theory of the “Greater Fool”. Some people just prefer to follow the masses and believe in the hype rather than do their homework.
Got in and out within several minutes of noon. As a collector I find the excitement of ordering from the Mint part of the fun. That “Greater Fool” theory need not apply unless one is speculating or in that line of business. The opportunity to possibly make a decent profit goes hand in with possible big time losses. Dealers and Flippers get burn too sometimes.
Being the first $100 gold ever made by the US Mint made this coin so popular. The coin design could have been better. Congratulations US Mint.
When we purchase a proof or commemorative product from the U.S. Mint we unfortunately pay a pretty stiff premium. Is it worth it ?? I would argue it is, for the following reasons. Back in the 30’s when the Federal Government went off the gold standard and attempted to confiscate all the gold in individual hands ( they were quite successful ), At the time, the Supreme Court ruled, in effect, that they could not confiscate heirlooms or coins of historic significance. The coin that was offered today truly fits into that category. The reason one purchases such a coin… Read more »
Waiting to see how close to a sellout this comes before the stall.
Gold coin price will drop again next Wednesday if Gold drops below the $1,000 mark.
In regards to David’s comment on heirlooms of gold or silver meant for the benefit of children or grandchildren, a Living Trust specifying the inheritance of assets to beneficiaries can stipulate under what conditions and how assets can be distributed.
I wonder how much the generous HH limit contributed to the sales …
Well said David J. Harrington. But I hope I cash my stash before I pass. I’ll leave my kids most of the bullion. God Willing.
David, I plan to do the same with all my coins. I have no children so I’m leaving everything to my 2 Nephews. I am a 100% Disabled Veteran and they help me a lot, don’t know what I’d do without them. God Bless you Joshua and Adam. Everything is yours.
Thank you for service, Sir. If it weren’t for the great men and women who serve the United States, this forum would be in a different language altogether.
God Bless You and the God Bless the U.S.
The U.S. Mint is reporting first-day sales of 36,686 coins. We’ll publish some photos of the coin this afternoon.
Danny J. Morano
THANK YOU FOR YOUR SERVICE!!!!!
Thank you! Now all of us need to email the Mint and Respectfully ask them to make a Gold Morgan Dollar to go with the already issued Buffalo and to be issued next year the Mercury Dime, the Liberty Quarter and the Wardrobe malfunction 50 cent piece. God Bless All and America.
Here are some photos of the coin: http://www.coinnews.net/2015/07/31/2015-100-american-liberty-high-relief-gold-coin-photos/
Well you talk about the ebay online flippers, but with a price of over $400.00 the spot price of gold are you sure it’s not the US mint that is the biggest flipper of all. Back in the 1990’s the Avg. spot price of gold for almost the entire decade was below $300.00 and ounce, And the difference between the price of US mint proof gold coins and the gold spot prices was no where near what we are seeing today. We have seen a massive slid in the past two years in the prices of gold and over the… Read more »
If you got yours, Great. If you are buying for quick flip or dealer shill….karma.
Too bad for a little guy like me, since I was looking forward to seeing the silver coins.
Maybe the Mint will see in the future how popular a silver edition will be….well, I can dream can’t I.
Beautiful designs fore & aft