Confirming the speculations of many in the coin collecting business, the US Mint is currently striking 2010 Proof American Gold Eagles, as relayed in an article about the U.S. Mint and the coins on sister site CoinNews.net.
This is comforting and happy news for coin collectors who have practically been on the edge of their seat waiting for information of the numismatic strikes. Collectors have been unable to obtain these proof quality Eagles since they were last available in 2008.
The US Mint was forced to cancel production of the Proof Eagles in 2009 because of the intense demand it was experiencing for the bullion versions of the strikes. That marked the first time the Mint did not strike an annual version of the Proof Gold Eagles since they were first introduced back in 1986.
According to the way the law was written authorizing the Eagles, the Mint must strike the bullion Eagles to meet demand. Unfortunately, as they were not able to procure enough gold blank planchets, that demand was never fully satisfied. As such, the numismatic versions were not produced.
Many wondered if the Mint was not in the same predicament this year as the Gold Eagles were still selling quite well. However, their numbers have not been record-setting and apparently the Mint was able to set aside enough blanks to strike the Proof Eagles.
Indications are that the Mint will strike one-ounce, half-ounce, quarter-ounce and tenth-ounce proofs. The Mint will also release the 4-coin set which includes all four sizes of the Eagle.
These coins will be available directly from the Mint, slated for sometime in October. The price for each option will be set shortly before the coins are released as the Mint bases its numismatic precious metal coin prices on a matrix which ties it to the recent market spot prices.
Unfortunately, collector's good luck has apparently not rubbed off on the Proof Silver American Eagles. They fell victim to the same fate as the Gold Eagles last year and were canceled due to overwhelming bullion demand. However, the Silver Eagles are still on track to break the all-time annual record for the number of strikes sold indicating that demand for them remains quite high.
The Mint indicated in August that likely the only chance for the Silver Proof Eagles to be released this year was for Congress to intervene and to make an exception for their production even though the Mint has not yet met demand for the bullion Silver Eagles. As of yet, Congress has not yet acted.
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