2009 Ultra High Relief Gold Double Eagle Opinions
I recently wrote a post previewing and providing some opinions on the Ultra High Relief Gold Double Eagle.
Two main points:
1.) I think the coins will definitely be priced at a premium to other one ounce gold coins, making the price around $1,100 if not more.
2.) The Mint might run into problems producing enough coins to fulfill orders. The US Mint has recently had countless problems handing demand for regular bullion coins, and their gold blank supplier is starting to have problems of its own. This might lead to a possible delayed launch, household ordering limits, and/or extensive back orders.
Any other opinions?
Two main points:
1.) I think the coins will definitely be priced at a premium to other one ounce gold coins, making the price around $1,100 if not more.
2.) The Mint might run into problems producing enough coins to fulfill orders. The US Mint has recently had countless problems handing demand for regular bullion coins, and their gold blank supplier is starting to have problems of its own. This might lead to a possible delayed launch, household ordering limits, and/or extensive back orders.
Any other opinions?
Tags: usmint
Views: 42
Replies to This Discussion
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Permalink Reply by jraytinkey on -
If your inside info is correct, that will be about a 50% premium on gold. That is awfully high for a coin that will be minted to demand. I would really like to have this coin, but I'll have to wait and see how it sells next year.
Nearly 600,000 gold buffalos were sold in 2006 when they were introduced (proof and unc). That was with roughly a 10%-15% premmium. It will be interesting to see how a 50% premium will affect mintage numbers.
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Permalink Reply by coinnetwork on -
Thanks for the info John S!
At that price level, I really have to wonder if the Mint is pricing these at a huge premium intentionally to curtail demand to levels they can handle. The UHR coins are probably more complicated/expensive to produce, but a 50% premium??
Joshua, that's a good comparison with the 2006 Gold Buffalo. I was also thinking along those lines for an estimate of the sales, but as you said the big premium would definitely change things.
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Permalink Reply by FiremanDev on -
I'm of the opinion that price will not be that much of an issue to serious collectors...well, within reason, of course. $1100-$1200 is a little steep, but I think I'll be willing to pony up the dollars for this beauty.
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Permalink Reply by FiremanDev on
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Any thoughts on when the Mint will release the 2009 product schedule listing?
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Permalink Reply by jraytinkey on
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The high premium may simply be a supply vs. demand issue. Fewer collectors will be able to afford a 50% premium, but if there is going to be a shortage of gold blanks then it doesn't really matter. Perhaps this is an early indication the Mint is still struggling to acquire gold for the upcoming year?
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Permalink Reply by mqracing on -
Even at a 50% premium over spot--- I'll probably be in for one piece simply based on the beauty of the coin. I'd love to see a really great photo in high resolution.
With the unlimited mintage--- no matter how much I like the coin as artwork--- I probably wouldn't go more than one piece. But even with what is generally considered high mintage numbers it will always be the first year produced so that has some cache. So from a monetary appreciation point of view--- I have mixed "signals" on how hot this offering will be money wise down the road.
I try always--- as the first threshold--- only purchase what I honestly like on an aesthetic basis---- following the sage old advice of art collectors--- buy only what moves you.
I'm looking forward to the release of this offering. Hopefully I will have enough mullah (after going wild this month at the mint) to be an early adopter of just one piece.
MSL
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Permalink Reply by doug on
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I just want to ask everybody to keep their fingers crossed that the spot price of gold does NOT go above $850 oz. BEFORE the mint puts this coin on the market. Let the mantra be "no higher than $850 prior to March 09" , that will give most everyone who wants *in* time to score one. Thank You. P.S. I enjoy reading everyone's comments here at coin network and want to thank the publisher for the effort to have this resource here.
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Permalink Reply by Gary on -
Does anyone know if this a 1 year coin....or is this a start of a new series! Thanks
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Permalink Reply by coinnetwork on
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Gary said:Does anyone know if this a 1 year coin....or is this a start of a new series! Thanks
The current plan is for this to be a one year only coin. They will be minted "to demand" in 2009 only. If there is remaining inventory the coins can be sold in 2010 until the inventory is exhausted.
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Permalink Reply by mtzionking on
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I just received mine, ordered three days after the release date, on March 2. Although somewhat on the small side it may be the most stunning and beautiful coin I have ever seen. It was worth the wait and the money ($1189.00). The coin is now $1389.00 and the price probably won't go down. The Mahogany case it comes in is well done; I have yet to receive the book.
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Permalink Reply by Lyn on -
Received my UHR today 3/10 and I ordered about 230pm on the first date. The booklet is on backorder. Like others have said UPS dropped it (no signature required) at my front door and rang the doorbell. Glad my wife was at home. After looking at the coin, I have mixed feelings...just another coin in a box? Email from the mint with the tracking number was sent the same day I received the coin.
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Permalink Reply by Lureuin on -
The gold for the coins comes from US sources. The planchets for the UHR are made from US gold sent to the Perth MInt to be made into blanks. Perth already had a machine in place for the exact same size blank for their "high relief" koala coin.
The eagle coin blanks are a lowest bidder supplies them contract. The US Mint doesn't produce any of the metal used for US coins. They either buy blank planchets, or they cut their own planchets (blanks) from metal sheets that are supplied to them.
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