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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.

That’s something.

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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About the Author
David C. Harper has been a coin collector since 1963. He joined the Krause Publications editorial staff in 1978 and is currently editor of Numismatic News and World Coin News. He also edits two books annually, North American Coins & Prices and Coin Digest. He is the author of the Class of '63 column that runs each week in Numismatic News. His first bylined numismatic article appeared in the June 1971 issue of Coins Magazine and his various Krause Publications assignments included a stint as editor of the magazine 1980-1983. Harper received a bachelor of science degree from the University of Wisconsin-Oshkosh in 1977. He had a double major of journalism and economics.

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