U.S. Mint: 2012 Proof Gold Eagles Sold Out
Posted by Adam King on February 13, 2013
The latest weekly United States Mint numismatic sales report shows 2012 Proof Gold Eagle Four Coin Sets are now sold out. The product sell out is the latest in a spate of sold out products at the Mint.
Sales of the 2012 Proof American Gold Eagles began on April 19, 2012. The individual one-ounce, one-half ounce, one-quarter ounce, and one-tenth ounce coins were introduced by the Mint in addition to the four coin set. The Mint set maximum product limits on all the coins.
Individual one ounce 2012 Proof American Gold Eagles sold out in mid-November with sales at 14,848. The one-half ounce coin showed sales at 3,962. Individual one-quarter ounce coins had sales of 4,969 and individual one-tenth ounce coins reached sales at 11,680. The last three individual options sold out in January and the four-coin set, which sold out on February 8, showed reported sales of 8,957.
The sell outs for individual coin options began several months ago, with one-half ounce coins selling out in mid-November and the one-quarter ounce coin selling out in early January. Sales levels at the U.S. kick started in a relatively choppy price environment around the time of the U.S. elections in early November. Following that political uncertainty, the Christmas dispute over the debt ceiling also fueled the gold market, though the debate was so drawn out that it may have been more of a drag on the spot market than it was a boon to physical sales.
The precious metals market has decidedly shifted to investor demand for physical gold and silver bullion. Even as prices have been range bound and choppy, sales at the U.S. Mint have skyrocketed with products selling out not only in the gold coins but also in American Eagle Silver Coins.
After just ten days of availability, the U.S. Mint temporarily suspended the 2013-dated American Eagle Silver Coin in the month of January. Sales to authorized distributors have resumed as of the week of January 28, but on an allocation or rationing basis. The indication is that physical demand far exceeds demand that is exhibited currently in the marketplace.
US Gold Market Tags:
2012, 2013, gold, gold coin, gold eagle, investing, investment