The United States Mint today resumed sales of fractional 2009 American Eagle Gold Coins in 1/2 oz, 1/4 oz and 1/10 oz weights.
The three bullion coins come off a temporary suspension that was announced on the same day the 2009 Buffalo gold coins sold out, Dec. 4, which was one day following their explosive release. At that time the US Mint said its inventory of the 1/10 oz sizes was gone and that all of the remaining sizes would be offered on the following Monday.
Last Friday the US Mint announced the Gold Eagles' return, and in affect their approaching end. A Mint spokesperson noted that the supply of fractional coins was limited and that once they were sold, no more would be struck.
"The additional limited quantity of 2009 American Eagle Gold Half-Ounce, Quarter-Ounce and Tenth-Ounce Bullion Coins will be offered via the United States Mint standard allocation process on Monday, December 14, 2009," said U.S. Mint Director of Public Affairs Tom Jurkowsky. "Once this inventory is depleted, no additional inventory will be produced."
As of this writing, the US Mint network of authorized purchasers have scooped up:
- 83,000 1/2 oz,
- 90,000 1/4 oz sizes, and
- 270,000 1/10 oz coins
The figures include new sales from Monday. In short order and in just days, 2009-dated 1/2 oz and 1/4 oz totals topped respective 2008 tallies of 50,000 and 58,000. The 1/10 oz size sales are currently the same for both years.
The Mint also announced last week that it would resume selling the one-ounce 2009-dated Gold Eagle on Tuesday, Dec. 15.
"We will resume the sale of 2009 American Eagle Gold One Ounce Bullion Coins via the United States Mint standard allocation process on Tuesday, December 15, 2009," said Jurkowsky. "We will continue the allocation of these coins until at least the end of December 2009, on a weekly basis."
The bullion coins were last suspended on Nov. 25 due to a depleted inventory. Sales have been stuck at 1,193,500 ever since.
The US Mint sells bullion gold coins for a small amount over the current spot price of gold, but only to authorized purchasers. They in turn resell the coins to coin dealers, precious metal providers and/or directly to the public.
2010-dated American Eagle Gold and Silver One Ounce Bullion Coin are expected to begin in Jan., 2010.
Collectors will remember that the numismatic proof and uncirculated 2009 Gold Eagles were canceled in early October.
The Mint stated it was focusing production on the bullion versions, which were mandated by law, adding that it was "working diligently with current and potential blank suppliers to increase the supply of bullion coin blanks, so it can offer to the public the proof and uncirculated versions of American Eagle silver, gold, and platinum coins in 2010."
Supplies of coin blanks would appear to be a potential issue next year as well.
Gold American Eagle Bullion coins were first available in 1986. The law authorizing them (the Bullion Coin Act of 1985) requires the gold contained within them to be mined from sources in the United States.
Each coin contains the stated amount of gold as well as a small amount of silver and copper to bring them to a 22-karat gold standard which is resistant to scratching and marring. The United States government guarantees the content, weight and purity of every Gold Eagle.
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