2010 American Eagle 1/10 proof

Hi all, was able to get a few dollars together and buy one of the 2010 gold proof coins today, at just 27,000 being minted do you think at price of 180.50 was a good price? Also it didn't seem to much traffic on US MINT site was able to get my big order in real quick:thumb: , was just thinking that people are not buying a lot on high price gold coins the way things are these days. Also do you think this will be a sell out on the 1/10 proof or do you think will drag out until the end of the year, hoping that they don't sell out but that's wishful thinking on my part.

Carl from Connecticut

 

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Just some of my thoughts based the OP's inquiry... others will certainly differ.

If you were in question about the price being 'good' then you probably should not have purchased this coin until you were secure enough in mind to make the decision on your own confidently. Why did you buy this? Investment, collectible, both?

To me, from two sides: bullion and collectible...
For bullion its a bad price, as these are collector coins which carry the significant Mint mark up over spot metals price. It is especially a bad price after the Mint raised the prices today due to the recent average PoG on a day when gold dropped. If gold continues to drop in price (most will tell you it will not) the price would retreat further based on the Mint Bullion Chart.

1/10th ounce coins typically carry the highest premiums of all sizes of coin bullion and are not the best 'investment' size bullion to buy for investment purpose. For that save your money and buy half ounce and one ounce coins.

These collectible coins, all four sizes of 2010-W Proof AGE will sell out... but mostly due to hype after having none last year. There might be some flipping for a bit of a premium once they are removed from the Mint catalog (go off sale on the Mint site) but they may also be worth more in intrinsic metal price in the near future too depending on what the PoG is doing a few months down the road and into next year.


You also have cited the wrong mintage number for the 1/10th oz. coin.

CoinWorld recently reported that maximum mintages have been set at:

64,000 one ounce coins,
54,000 one-half ounce coins,
55,000 one-quarter ounce coins, and
66,000 one-tenth ounce coins.

The above figures takes into account the separate maximums established for individual coins and 39,000 of each coin allocated to 4 Coin Sets.

Buyers today are likely racing to get orders in asap to obtain the high grade coins for TPG grading. Those PR69 and PR70 graded coins will carry their own premiums.

Enjoy your coin for the collectible it was meant to be or invest in bullion versions if that is your purpose as you will maximize the money you pooled together to invest with.

 

In today's Market the Mint's prices look reasonable

1/10th ounce coins typically carry the highest premiums of all sizes of coin bullion and are not the best 'investment' size bullion to buy for investment purpose. For that save your money and buy half ounce and one ounce coins.

>>> Highest Premium MAYBE...

Two ways to look at this. If you say it takes 10 coins to equal an ounce, then the mint is selling these coins @ $1,805/ ounce vs SPOT price of $1,355 = premium of $450 ouch!

BUT, the uncirculated $5 Eagle is selling for approx. $155 plus $13 S&H = $168 vs the US Mint's $185.45 for a Proof Eagle in an air-tight, enclosed in a beautiful case for a Premium of only $17.50 more, then the Mints' Proof $5 Eagle's Premium look very reasonable.

The premium on all PM are currently nuts because there is so much demand for the physical metals.

The SPOT price on Silver is $22.50 +/- but folks on eBay are paying $30/ ounce for auctions of 3, 4, and 5 coins of recent minatage coins. Which is about the same % premium that the Mint is asking for a Proof coin and case.

In today's market the Mint's prices look "reasonable" LOL :devil:

 

Thanks for the mathematical breakdown Dave :thumb:

 

According to a Mint sales associate, sales are slow. They do not anticipate a sellout at these purchase levels. And with the 5 ouncers on the horizon, the proof gold are gonna have the financial life drained out of them. I am steering clear, after all, once gold rises to new historical levels- ALL GOLD turns into just some more bullion in a different design. That includes proofs. Remember that many First spouse coins are already melting pot fodder.

 

64,000 one ounce coins,
54,000 one-half ounce coins,
55,000 one-quarter ounce coins, and
66,000 one-tenth ounce coins.

anybody know how many four coin AGE sets the mint will sell?

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39,000 is the max.

 

Received an email from the Mint, with tracking info, that my AGE Proof has been shipped today. Guess they had the AGE in shock LOL

 

I`ll just say that regardless of the premium that You paid.....if You are happy with it.....that`s all that matters. : )
(I have a hunch a few years from now You won`t have any regrets)

 

Yes, the 1/10's are some of the first gold coins I ever bought when I first got back into collecting coins again. I used to have 5 of these but have since sold them all except one. If you're happy with your purchase then good for you, enjoy!

 

Wrong mintage numbers Krispy

The 1/10 American Eagle question you replied to was for the just released proof coins that the US Mint web shows as 27,000 max coins for the 1/10 coin.
I just bought a couple myself.
I'm a newbie to the site and really appreciate the experience and insight you folks share. Thanks a lot.

 

64,000 one ounce coins,
54,000 one-half ounce coins,
55,000 one-quarter ounce coins, and
66,000 one-tenth ounce coins.

Krispy, do these numbers include proof and uncirculated coins?



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I just noticed that the US Mint now says that the AGE Proof coins will be available for shipping on 10/23/10.

If the price of gold goes above $1350 between then and now Can the Mint raise the price of these coins in accordance with their Pricing Matrix?

Mt AGE Proof is scheduled for arrival on 10-11-10 according to UPS. :>) That was quick! order on Thurs. receive it on Monday.

 

These are the Proof 2010-W coins only. Unc bullion versions are separate. You can see Elaine's thread here with Up to date mintages and production figures for bullion coins, which she quotes from CDN Greysheet

 

Wow, with numbers like that the numismatic value doesn't look so good to me what do others think?

 

This is off of the Mint's product listing for the 2010 One-Tenth Ounce Gold Proof:
"American Eagle One-Tenth Ounce Gold Proof Coin - Product Limit: 27,000"

 

For the benefit of "coinmaster1"

Do your math and look at the published figures... the Mint likely made a typo in leaving out the word "single" for the 1/10th oz coin on it's product page.

The numbers I cited were published by Coin World on 9/20/2010 prior to these coins going on sale. You can also find the figures from CW referenced in several other threads prior to this one. You might also inquire directly with CW and the US Mint to see if they have revised their published figures before putting faith in the Mint's product page for the 1/10th oz. proof coin.

From each of the product pages on the US Mint web site, they state the following:

If coinmaster1 will now please add 39,000 units of each coin from a four-coin Proof AGE set to the products listed above to determine the actual mintage limit he will see how the mintage of 1/10th oz. coins is greater than 27k, and the product page is incorrect by not including the word "single" in it's description. The Mint did not say "single coin product limit" for the 1/10th oz, but that may well prove to be a typo soon revised to reflect actual mintage limits previously published and provided originally by the Mint.

What with the number of 4-coin sets (39,000), that 27k stated for the 1/10th oz. represents less than the number of stated sets there are also stated to be sold by 12,000 units! The four-coin set is NOT the only way to obtain the 1/10 oz. proof coin as it has it's own product page for that.

Don't believe everything the Mint tells you coinmaster1, it is likely an error and the US Mint reserves the right to change the product listing, especially if they are in err.

Therefore, as stated above, quoting published figures from a major numismatic publishing house, who are themselves quoting the U.S. Mint, the 2010-W Proof AGE mintage limits are set at:

Proof AGE One Oz.: 25,000 +39,000* = 64,000
Proof AGE One-Half Oz.: 15,000 +39,000* = 54,000
Proof AGE One-Quarter Oz.: 16,000 +39,000* = 55,000
Proof AGE One-Tenth Oz.: 27,000 +39,000* = 66,000

*39,000 representing the coins of each size/denomination in the allotted four-coin sets.

 

Furthermore for coinmaster1:

2010 American Gold Eagle Proof Coins from MintNewsBlog [10/07/2010]

 

Just got today

Jut got my 2010 American Eagle gold Proof 1/10
Here are a few pictures, have to say this came in nice packaging.
Question did anyone else order the 2010 Gold proofs also?

 

Very nice Carl! Enjoy.