New proof Gold Eagles scored one of their best sales starts in recent years but they moved a lot slower out of the gate than a year ago.
This year’s collector coins had the unenviable task of launching in the midst of a bearish gold market, with gold now looking to stretch its losing streak to seven sessions in a row. There’s less incentive to buy early with the option of waiting on the sidelines for possible price reductions. In contrast, last year’s coins debuted at a bullish time with the yellow metal rallying to a more than 1-year high.
Released last Thursday in four sizes and in a set with one of each, collectors scooped up 27,013 coins in four days for a combined 12,807.60 ounces. Last year’s Gold Eagles in the same amount of time reached sales of 45,673 coins, or 21,362.15 ounces, for the strongest showing since 2010.
Here’s a table comparing these results from those of the last seven years:
|DEBUT SALES (COINS)||DEBUT SALES (OUNCES)|
Early sales of the 22-karat gold coins spiked in 2010 with pent-up demand featured. The U.S. Mint did not sell any proof Gold Eagles in 2009, diverting their production that year to bullion versions.
American Gold Eagles are minted in sizes of 1 oz., 1/2 oz., 1/4 oz. and 1/10 oz. with respective denominations of $50, $25, $10 and $5. The set with one of each was the biggest unit seller.
Here’s a table showing how each of the 2017-dated products performed early into their release:
|Debut Sales of 2017-W Proof American Gold Eagles|
|DEBUT PRICES||DEBUT SALES (UNITS)||DEBUT SALES (OUNCES)||DEBUT SALES (COINS)||DEBUT SALES ($)|
Finally, here are some CoinNews photos of a proof $50 Gold Eagle under varying light conditions.
Proof American Gold Eagles are available from the U.S. Mint’s online page of gold coins, located here, or by calling 1-800-USA-MINT (872-6468).