May 23, 2024

2009 Proof Gold Eagles Canceled

The United States Mint has offered proof versions of the American Gold Eagle since 1986. These collectible versions of the popular bullion coins are minted using a special process where the coin is struck multiple times with specialized dies. The resulting coins feature sharp details and a cameo contrast of frosted raised elements and mirrored fields. Typically, the proof coins have been offered in 1 oz, 1/2 ounce, 1/4 ounce, and 1/10 ounce sizes, with a complete 4 Coin Set also offered. According to an announcement from the US Mint released this week, Proof Gold Eagles will not be minted during 2009.

The coins were canceled as a consequence of the high worldwide demand for precious metal bullion coins. The US Mint is required to produce Gold bullion coins for collectors in quantities sufficient to meet the public demand. During the last year, they have struggled in this task. Sales of the gold coins have been periodically rationed and even completely suspended for brief periods of time.

Because the US Mint cannot meet the full public demand, they have been allocating all available precious metal blanks for the production of bullion coins in lieu of collector coins. The production of proof gold eagles for collectors has been suspended. On October 6, 2009, they finally announced that 2009 Proof Gold Eagles were officially canceled.

This comes as a severe disappointment to collectors who have been buying the series for the past twenty two years. While the US Mint does not sell nearly the amount of coins through its collector coin programs as the bullion programs, the proof coins still generated a fair amount of sales. During 2008, the US Mint has sold 29,399 1 oz coins, 27,864 1/2 oz coins, 28,301 1/4 oz coins, and 29,155 1/10 oz coins. The highest sales for a proof gold eagle occurred in 1986 when 446,290 coins were sold by the US Mint.

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