Gold sales have dropped again for US Mint coins
HalfDime
Posts: 457 ✭✭✭✭
This is the second week of sales for the 2025 Proof Gold Eagle coins, and while the first week was only a few days due to a Thursday release (it is not fair to compare yearly sales when different days to the start of sales are involved), we now have a second week of sales to add to that.
So this is where the coins stand in two weeks of sales:
1 ounce 1486
1/2 ounce 641
1/4 ounce 785
1/10 ounce 2384.
It is interesting to note the even the 1/10 ounce gold coin has dramatically lower sales. A year ago the 1/10 proof gold opened at 4438 in first week sales by comparison.
We can't forget the 4 coin proof set as well.
4 coin set 1956
A year ago the 4 coin set sold 3561 sets in only the first week, so it has also dropped dramatically.
This is the comparison from this year to last year:
1 ounce 1486 1784
1/2 ounce 641 980
1/4 ounce 785 3833
1/10 ounce 2384 4439
4 coin set 1956 3561
I think what has happened is the price of gold has taken these coins to such premiums that 50% of collectors have thrown in the towel on going forward with their sets, and not as many people are buying bullion from the US Mint as a proxy on gold.
The drop in 1/4 ounce sales is stunning, from 3833 to only 785. One ounce collectors seem to be holding the line by comparison, but for how long if gold prices keep rising?
Unfortunately it appears the mint struck far too many coins again this year to have new key date coins to support these premiums. I was hoping to see dramatically lower mintages for this series as a result of dropping sales, but so far the mint is not ratcheting down the numbers. They have plenty of coins in inventory to sell for years if need be. That goes with the 2024 coins in this series. The next chance is for 2026 proof gold eagles, maybe that is the first year of final mintages to reflect true demand, but collectors will have to wait well over a year to find out.
PS The US Mint has so far not understruck 2025 coins they are releasing. There are still a few more coins that may be in later releases this year. At some point they will have to drop the mintages. I imagine they are afraid to as it means lower total revenues.
Comments
Their mark ups are too high.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
my only hedge for not raace to the bottom was not knowing how many hardcore set collectors are out there.
I guess I know now. RACE TO THE BOTTOM! (maybe we're at the bottom already)
Who could possibly be surprised by a drop in sales with the prices the mint is asking.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Also a lot of people buy proof gold as basically a bullion hold. You would be surprised at how many people own proof gold coins with a sentimental year as an investment.
The insane price of gold bullion is knocking out a lot of collectors.
If I buy any any gold coins in this market, most of what I'm paying has to be for numismatic reasons. I wouldn't buy a common date $20 gold on a bet these days.
Duplicate post
How often do they reprice the gold coins?
What range of markup over bullion do they have?
Prices on the gold is horrible 😕
I thought about buying the four piece gold eagle Proof set at the Tampa coin show in September. It would have cost me something like $2,000 over melt. I ended up buying a BU 1 ounce piece at the $2,600 level. So far it looks like a good move, but it could be like the guy who's half way down after he jumped off the Empire State Building. **"So far, so good!" **
These gold coins are repriced weekly.
Reference (See "How do you price your products?")
The mark-up is a fixed dollar amount for each item. The sale price = mark-up + average weekly spot.
Re-Pricing Criteria
Pricing Range Table
Current Mark-Up Summary (@ Minimum of Average Spot 'Range/Row'):
AGE, 1.0 oz., Proof = $900.00
AGE, 0.5 oz., Proof = $475.00
AGE, 0.25 oz., Proof = $265.00
AGE, 0.10 oz., Proof = $135.00
AGE, 4-Coin Set, Proof = $1,725.00
Yup. Bullion is the play.
The Mint game and high markup requires you often wait for the original price to reach bullion spot. Backwards plan.
Yeah, I’m sure you already knew the answer to your question or observation….
Don't forget that the collector's gold coins also have a surcharge for the cause. Yeah, $35 isn't that much in the grand scheme of things, it's just like having the waiter's thumb in your rice when he slaps your meal down on the table.
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