One Ounce 2010 Proof Gold Eagle Sold Out

Less than one month after the initial release, the one ounce individual option for the 2010 Proof Gold Eagle has sold out. The maximum production limit was established at 25,000 coins.

2010 proof Gold Eagle

Since the issue price of the coins was a hefty $1,585 each, that means this product accounted for $39,625,000 worth of sales for the United States Mint. Using an intrinsic value of $1,350 per ounce of gold, this amount includes a premium of $5,875,000.

The US Mint has issued Proof Gold Eagles for collectors each year except for 2009. Sales for 2008 were at relatively low levels, with the individual one ounce option recording sales of 17,720 during nearly a year of availability. Perhaps absence does make the heart grow fonder, as collectors very quickly scooped up the entire maximum for this year.

Record prices for gold may have also added to the allure. Although logically we would like to buy low and sell high. In practice, rising prices seem to incite more purchases than falling prices.

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