Don't Block the Entrance
October 07, 2010
Today’s the day. Drum roll, please. At noon Eastern time the 2010 proof gold American Eagle coins will go on sale on the U.S. Mint’s website.
Will the record price of gold bullion help or hurt overall sales?
I find the $1,685 price more than a bit daunting. And that’s just the one-ounce coin. The price of the four-piece set I don’t even want to think about.
There is a good reason I have never seriously collected gold beyond the few modern commemoratives that have struck my fancy from time to time along with the odd British sovereign. There just wouldn’t be much left for my other interests.
The Mint is offering 25,000 of the one-ounce proof coins.
While I stand here gaping at the figure, will I be run over by retirement account custodians who want to supply their clients with a new coin supply?
“Ponder this,” they’ll shout as they shove me aside.
Once they are done with those, they can feed on the 39,000 four-coin sets. Will any actual collectors be buying?
Though I won’t end up with any of these shiny new coins at the end of the day, I might come up with some insight into the state of coin buyers’ finances.
If you’re a collector, let me know if you are buying the proof gold American Eagles and tell me why.
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