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Eagles, no; Buffaloes, yes

No proof one-ounce American Eagle gold or silver collector coins will be produced in 2009 by the U.S. Mint.

The bad news, cleared for release at noon Eastern Daylight time Oct. 6, doesn’t end there.

There will also be:
• No “W” mintmarked uncirculated silver American Eagle collector coins,
• No proof fractional gold American Eagles,
• No “W” uncirculated one-ounce gold American Eagles (the fractionals of this were killed at the end of last year),
• No Uncirculated Dollar Coin Set, which would include a “W” silver American Eagle, and
• No platinum American Eagle bullion coins.

But the Mint also gives as well as takes.

Perhaps the most surprising new issues coming are the probable Oct. 15 release of the 2009 gold Buffalo bullion coin and the Oct. 29 release of the proof collector version.

Fractional gold American Eagle bullion coins in tenth-ounce, quarter-ounce and half-ounce weights are scheduled tentatively for release Dec. 3.

A proof one-ounce platinum American Eagle also is scheduled tentatively for release Dec. 3.

The Mint stresses the word “tentatively.”

It is still battling to supply the market with American Eagle bullion coins, which are mandated by law whereas the collector versions are not.

“Because of unprecedented demand for American Eagle gold and silver bullion coins, the United States Mint suspended production of 2009 proof and uncirculated versions of these coins,” it says.

Even though the rationing of the bullion gold and silver American Eagles ended June 15, acquiring adequate supplies of blanks has been an ongoing struggle for the Mint. In light of this, it might perhaps be surprising that the Mint would bother to produce the gold Buffalo coins this year at all.

Those with a lawyer’s eye will spot the exception in the language here: “All available 22-karat gold and silver bullion blanks are being allocated to the American Eagle gold and American Eagle silver bullion coins programs as mandated by Public Law 99-185 and Public Law 99-61, respectively.”

The one-ounce Buffalo gold bullion coins and collector coins are struck on 24-karat gold planchets.

Once again the Mint holds out the hope that the collector coins suspended this year will be returned to production, but now in 2010, as it works “diligently with current and potential blank suppliers to increase the supply of bullion coins blanks.”

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4 Responses to Eagles, no; Buffaloes, yes

  1. Brad says:

    I have to admit, I honestly did not believe that the Mint would not issue any of the one ounce Proof Gold and Silver American Eagles at ALL this year. I thought at least that there would be a VERY small quantity of them struck, for series continuity if nothing else. It seems they could have used 1,000 gold blanks and 20,000 silver blanks for the one-ounce collector versions. If they had, think how much those beauties would have been worth, both to present and future collectors! With the millions of the bullion versions produced, would the proposed numbers for proofs above have made THAT big a difference for the Mint fulfilling it’s legal obligations to the bullion-buying public? I really don’t think so.

    Since it’s official that none will be struck now, there will be a gaping hole in the collections of everyone who owns the entire series from 1986-2008. Even if the proofs DO return in 2010, the unsightly hole left by no 2009 coins will forever serve as a reminder of the economic crisis of 2009. I guess that will be a form of history lesson for future generations to study.

  2. Scott says:

    This is a slap-in-the-face for the U.S. mint’s hard-core collector base. Collectors have faithfully purchased the Proof American Eagle silver and gold coins for 23 years. This really, really, really SUCKS.

  3. Louis says:

    Has anyone heard anything about the expected mintage of the bullion Buffalo gold coin that will be released around Oct. 15, or the mintage of the proof Buffalo slated for the end of the month? There is a major bullion retailer that is advertising the new bullion Buffalo as a low mintage coin, but my understanding is that the bullion versions have been produced in large quantities since 2006 (although less than bullion American gold eagles). On the other hand, given the shortage of blanks perhaps the mintage will be quite limited. Any ideas?

  4. its good,Fractional gold American Eagle bullion coins in tenth-ounce, quarter-ounce and half-ounce weights are scheduled tentatively.Thanks for the great reading, we buygold bullion in a recession.I will pass this on to our ira clients to read.

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