June 19, 2024

2011 Proof Gold Eagles Available April 21

The United States Mint has provided details for the upcoming release of the 2011 Proof American Gold Eagle coins. These collector versions of the popular bullion coin have traditionally been offered each year since the introduction of the series in 1986.

The only year that the US Mint did not offer a collector version of the Gold Eagle was in 2009. In explaining the cancellation, the US Mint cited their requirement to produce the bullion versions of the coins in quantities sufficient to meet public demand. Since they could not meet full demand, they sourced all incoming precious metals blanks to the production of more bullion coins.

In 2010, the offering was resumed, with Proof Gold Eagles available starting on October 7, 2010. The available options sold out by early January of the following year.

The 2011 Gold Eagles will go on sale April 21, 2011. The US Mint will offer individual product options for the 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz coins, as well as a combined 4 Coin Set option. Each coin is struck in 22 karat gold, with the stated weight reflecting the gold content of each coin. The product limits established by the US Mint are shown below.

Product Product Limit
1 oz. Coin 30,000
1/2 oz. Coin 15,000
1/4 oz. Coin 16,000
1/10 oz. Coin 30,000
4 Coin Set 40,000

If the US Mint can achieve a full sell out of the stated product limits for each option, that would represent 118,500 troy ounces of gold. Through the first three months of the year, the US Mint has sold an average of just under 100,000 ounces of Gold Eagle bullion coins per month. Sales of the collector versions typically take place more slowly, since they are sold at a higher premium and marketed to collectors.

Prices will be determined based on the average London Fix gold price for the week prior to the release date. If gold remains within the current range, the 1 oz proof coin would be priced at $1,735.00, reflecting a premium of 16.68% over the market price of the gold content. The 1/2 oz, 1/4 oz, and 1/10 oz coins would cost $881.00, $453.00, and $195.50, respectively. The 4 coin set would cost $3,215.50.

2011 American Gold Eagle Release Date

The United States Mint will begin accepting orders from authorized purchasers for 2011 Gold Eagle bullion coins on January 3, 2011. This will coincide with the start of sales for the 2011-dated Silver Eagles.

Initially, the US Mint will only offer the one ounce version of the 2011 Gold Eagle. Each year since 1986, fractional weight coins have also been offered to accommodate different investment levels and provide greater flexibility. Other sizes include one-half ounce, one-quarter ounce, and one-tenth ounce coins. For the past two years, the Mint has released the one ounce coins first, with the fractional versions offered later in the year.

American Gold Eagles feature Augustus Saint Gaudens’ design used for the $20 double eagle, minted from 1907 to 1933, on the obverse. This is paired with an image depicting a family of eagles on the reverse, designed by Miley Busiek. The composition of the Gold Eagle is 22 karat, or 91.67% purity. Each coin contains its stated weight in pure gold.

As with other bullion coins, the US Mint utilizes a network of authorized purchasers to distribute Gold Eagles to the public. There are six primary distributors who may purchase gold bullion directly from the Mint. The price paid is determined based on the London PM Gold Fix on the date following the order date, plus a premium of 3% (for one ounce coins). The minimum order quantity is 1,000 ounces.

The US Mint will continue to sell 2010 Gold Eagles to authorized purchasers as long as inventories remain. Any 2010-dated coins remaining on January 3, 2011 will be sold on a ratio basis to authorized purchasers who order 2011-dated coins.