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2012-W Uncirculated American Gold Eagle Sold Out at Mint

As of Tuesday, the 2012-W $50 Uncirculated American Gold Eagle Coin is sold out, unexpectedly. It joins the 2012-W Proof American Silver Eagle Coin, which is also no longer available.

Gold prices slipped in early trade on Wednesday following a failure by Greece’s lenders to reach an agreement, which hurt the euro and strengthened the dollar. The spot price of gold slipped 0.1 percent to $1,725.78 per troy ounce, though U.S. gold for December delivery gained 0.15 percent to $1,726.10 per troy ounce. Silver contracts for December delivery traded up $0.09 to $33.02 per troy ounce.

Collectors appear less surprised about the sold out Silver Eagle as it has been available since April and typically sells out around November. The American Gold Eagle, however, was expected to remain available for much longer as it was only released on July 28, 2012 with more than 6,000 in sales just reached.

Last year’s 22-karat gold coin, by comparison, went on sale on May 5, 2011 and sold out in mid-January at a series mintage low of 8,822 units. This year’s coin appears ready to set a new record low with sales of 6,114 as of this Monday, November 12, 2012. The week’s gain is a 318-unit increase over last week’s reported sales of 5,796.

Collector grade and investor bullion American Gold Eagle Coins have been minted since 1986. The uncirculated version of the coin joined the offered products in 2006. In order to further shorten its runs, the coins were not produced in years 2009 and 2010 as 22-karat gold coin blanks were reserved for the other two versions. The coins were only released in the single one-ounce, or $50 denomination size, in the last two years. Prior to that time, the coins were offered in four different sizes.

Figures at the U.S. Mint have been reporting weekly sales surges since the start of November with numismatic products making surprising advances. Some have tied the activity to the results of the U.S. election and its effect on the gold market while others believe the end-of-year activity was simply waiting for the right price point to begin. Several products are now sold out for the year.

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