2008 (w) american eagle uncirculated gold series

2008 (w) american eagle uncirculated gold series start selling today at 12:00 noon. prices were one ounce $1,119.95, half ounce $565.95, 1/4 ounce $299.95, 1/10 ounce $124.95 and the four pieces set $2,039.95. the mint still based on $1,000.00 per ounce. it should have reduce the prices and based on $925.00 per ounce instead. current spot $880.00 per ounce. so the mint charges both ameriacn eagle proof and uncirculated gold series too high. (proof version is using $1,025.00 per ounce). the mint should also reduce the prices for spouse gold and modern commemorative gold too. lastly the 2008 (w) american eagle silver should also be reduced. what you think?.

 

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I agree that the mint should lower the prices based on the lower gold and silver prices. But, the mint has almost never lowered prices on current issue coins. They probably think that the metal price could go up again, as fast as it went down.

 

Sales will plunge unless they drop them to more reasonable pricing.

:vanish:

 

2008 (w) am eagle unc gold series

if the u.s. mint use $925.00 per ounce as the basis for gold coins, then the prices should have been like these:

gold proof:
one ounce $1,089.98 vs: $1,199.95
half ounce $553.95 vs: $609.95
1/4 ounce $299.95 vs: $329.95
1/10 ounce $135.95 vs: $149.95

gold unc:
one ounce $1,019.95 vs: $1,119.95
half ounce $516.95 vs: $565.95
1/4 ounce $271.95 vs: $295.95
1/10 ounce $115.95 vs: $124.95

current prices for mint gold products are using $1,000.00 (unc) and $1,025.00 (proof).

 

additional info

4th spouse gold were based on $800.00 per ounce of gold. while the 5th spouse gold were based on $950.00 per ounce of gold.
the 2008 modern commemorative gold were based on $850.00 per ounce of gold.

 

mintage

american eagle gold (w) uncirculated:

2006 (w) one ounce - 49,975
half ounce - 18,850
1/4 ounce - 19,925
1/10 ounce - 25,650

2007 (w) one ounce - 24,902
half ounce - 13,358
1/4 ounce - 14,417
1/10 ounce - 24,160

am eagle silver (w) uncirculated:
2006 (w) one ounce - 496,200
2007 (w) one ounce - 642,468

the american eagle (w) unc gold series dated 2006 & 2007 will appreciate its value to over 100% or more in the near future. specially the 1/4 oz and 1/2 oz.


am eagle gold proof:
2008 one ounce - 8,929
half ounce - 4,454
1/4 ounce - 4,768
1/10 ounce - 6,018

am eagle silver proof:
2007 one ounce - 827,106
2008 one ounce - 471,072

 

2008 am eagle gold series

the mint should lower down its prices on all bullion related products. simply because the prices drop.

 

No, they don't have to and it just makes the lives of accounting a lot worse. Thing is, how can you tell that the price dropping is NOT a short term, i.e. from a few days to a month against something that is a year? No you can't.

 

Well, unless someone is only interested in these for collectable value, it's likely they will see very low sales at those prices.

 

that is why?

that is why the mint have to lower down its prices in order to sell more. or else it will be low on mintage.

 

I agree that these prices are a bit high and will discourage purchases.

 

mintage as of today

2008 w uncirculated american eagle gold:

one ounce - 1,849
1/2 ounce - 1,270
1/4 ounce - 1,360
1/10 ounce - 3,454

 

i think if you feel that their prices are unreasonable than you should not buy from them

 

That is the most frustrating thing though - you want to buy these coins, but the prices make it more difficult. And with any good business sense, why do we have to pay more than what the item is worth? When either we or the mint buy gold whether it is raw or in bullion form, we both are sharing in the risk, especially when the melt value drops bellow the purchase price. I expect to pay a small premium, but sometimes that difference exceeds the mints normal range because of the changes in the bullion market. That is why the mint should match bullion prices. Just like the stock market - sometimes you get lucky and sometimes you lose out, but that is the game. It is no different with bullion.

 

Not doubting you Doug, but what does the law saw about increasing the prices vs. decreasing the prices? I understand that there is probably a margin above "cost" that is dictated that the mint charge, but what provisions dictate when the mint can raise their prices. If this is true and congress is responsible for telling the mint how much to sell their products for and when they can increase their prices, then equally there should be something that dictates when they can lower their prices. If not, then I will be writing my congress person to voice my opinion.

Of course, I know nothing about this so I need to have my facts straight before I go on a crusade.

 

Exactly! This is exactly the point I was trying to make. As long as I have been around buying coins from the mint, I have only seen precious metal coins go up in price but rarely ever down - especially the bullion. I would have to say never go down because I have never seen it. So if the LAW mandates that, then why don't we see the prices ever drop? Why should we continue to pay extraordinary high prices for bullion coins when the price for raw materials are much lower? Of course we do it because we want their product... and there will alway be a section of society that wants and can afford their product. This also opens up a profit margin for the mint that I am sure they love to have and would hate to lose.

I am a sales rep and I always get in a argument with my other sales rep friends about this topic, but it stands to reason that if demand is there and prices go up and sales slow, then it would make sense to drop prices to where more people can afford the product at a lesser price still providing a reasonable profit margin for the company. The mint can afford to do this and still operate at a profit.

Once again, if we should be seeing a reduction in price that is reflective of the market and it is not happening, then maybe we should be visiting our law makers to have this changed. Once again, I don't know all the facts surrounding this topic - but I am slowly learning.

 

mint lower down the prices

mint should at least lowering its 2008 am eagle unc gold one ounce by $50.00. based on $920.00 per ounce. other denominations too. so the price should be around $1,069.95.