'09 Eagles Coming
By Numismatic News
2009 gold and silver American Eagle bullion
coins will continue until the end of the
calendar year, the Mint said in a letter to its
authorized distributors Nov. 20.
This is a break with past practice and provides
yet more evidence of the unusual steps the Mint
has been taking to attempt to meet unprecedented
demand for the American Eagle bullion coins from
investors this year.
Normally at this time of year the Mint announces
that it is changing over to produce American
Eagle coins for the next year and that supplies
of the current year would be run down.
However, there are little to no 2009 supplies to
run down, leaving the Mint in a predicament.
Already the Mint has sold 1,176,000 2009
one-ounce gold American Eagles and 25,716,500 of
the 2009 silver. If present trends hold, sales
through the end of the year would take those
numbers up to approximately 1.3 million gold
American Eagles and 28 million silver.
Demand, of course, could exceed the Mint’s
ability to supply the market as occurred in
2008, and come Jan. 1, 2010, the Mint’s cupboard
of 2010 coins will be bare.
The Mint says it will not begin production of
2010 Eagle coins until the new year begins. This
leaves it vulnerable to the usual pattern of
higher seasonal demand in January as collectors
jump in wanting examples of the new date.
“Whether special procedures will be in place has
yet to be determined primarily because demand
for the remainder of 2009 will need to be
assessed.,” the Mint replied to a question from
Numismatic News as to how it might meet Eagle
demand when 2010 begins.
The Mint says it expects it will be able to
strike 2010 American Eagles at roughly the same
rate it maintained in 2009.
“Current production rates are dependent on the
supply of blanks. We anticipate if current
demand rates for gold and silver one-ounce
bullion coins continues, 2010 availability will
be similar to 2009,” a Mint spokesman said in an
In 2009, supply of the coins was rationed
(allocated) until June.
And as was the case in 2009, availability of
Buffalo gold coins and fractional gold American
Eagles will depend on the Mint’s ability to meet
the demand for one-ounce gold and silver
Buffalo coins became available this year in
October and fractional American Eagles were
scheduled to begin Dec. 3.
For 2010, In the words of the Mint, “fractional
and Buffalo bullion on sale dates have not yet