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Don’t block the entrance

Today’s the day. Drum roll, please. At noon Eastern time the 2010 proof gold American Eagle coins will go on sale on the U.S. Mint’s website.

Will the record price of gold bullion help or hurt overall sales?

I  find the $1,685 price more than a bit daunting. And that’s just the one-ounce coin.
The price of the four-piece set I don’t even want to think about.

There is a good reason I have never seriously collected gold beyond the few modern commemoratives that have struck my fancy from time to time along with the odd British sovereign. There just wouldn’t be much left for my other interests.

The Mint is offering 25,000 of the one-ounce proof coins.

While I stand here gaping at the figure, will I be run over by retirement account custodians who want to supply their clients with a new coin supply?

“Ponder this,” they’ll shout as they shove me aside.

Once they are done with those, they can feed on the 39,000 four-coin sets.
Will any actual collectors be buying?

Though I won’t end up with any of these shiny new coins at the end of the day, I might come up with some insight into the state of coin buyers’ finances.

That’s something.

If you’re a collector, let me know if you are buying the proof gold American Eagles and tell me why.

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6 Responses to Don’t block the entrance

  1. itrooper says:

    Sorry Dave, I am a collector, but the price of gold is too high. I can’t justify the purchase with the slimness of my bank account these days.

  2. Brad says:

    While I could afford to buy the 2010 Proof Gold Eagle coins, I don’t see any point in it. When the smoke clears they won’t be anything special, except for the notation in history that the 2010’s marked the return of the proof coins following a one-year absence. That’s hardly enough of a motivator to justify laying down the kind of money the Mint wants for these.

    Sure, if the gold spot price continues to rise to the ridiculously high levels some "experts" predict, looking back these coins would be a bargain. Hindsight is always 20/20, though. I’d just rather keep my options open to other gold coins that are more unique and much lower mintage, like the First Spouses.

  3. The US Mint is listing the one ounce gold coins at $1,585.

  4. Curtis in Houston says:

    I just bought 2 of the 1/10th oz AGEs. 1 to collect and 1 to try to flip. Figured that even if gold tanks tomorrow and the price gets cut in half then the amount lost on the 1 I want to flip will be annoying but not earth shattering. I’m working on assembling a set of 1/10 oz AGEs so I don’t intend on selling the other.

  5. Jerome Curtis Watts says:

    4 comments (so far)…a popular topic!

    I’ll wait (to buy) and watch the mintage figures that Numismatic News will post for us. I’m thinking that IRA custodians will make sure that the one ounce coins will not be the key to this set.

    I took notice that today’s price of gold is the highest (nominal) price on record. Good job (US Mint) of picking the right day to start sales! How low will we go?

  6. Tom Snyder says:

    At the Milwaukee Show last weekend, dealers seemed to be willing to dump anything and everything considered mundane to raise cash for the gold bubble. Many are gamblers at heart.

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