The United States Mint will conclude sales of the popular 2009 Ultra High Relief Double Eagle Gold Coin on December 31, 2009.
The US Mint began sales of the gold coin on January 22, 2009. At the time, the coins carried a price tag of $1,189 each, with an ordering limit of only one per household. Collectors rushed to place orders, purchasing more than 40,000 coins in the first five days of sales.
By March, sales of the gold coin had declined to a pace of fewer than 1,000 per week. This changed in July when the US Mint raised the ordering limit to ten coins per household causing an immediate surge in sales activity. The increased order limit also provided an opportunity for coin dealers to build an inventory in the coins by offering a premium for coins purchased from the US Mint and immediately resold. (See Dealer Interview with Robert B. Lecce) The ordering limit was later raised to twenty five coins and eventually removed completely.
The price of the Ultra High Relief Double Eagle has steadily increased this year, pacing the increasing market price of gold. Under the US Mint's current numismatic gold coin pricing policy, prices may be adjusted weekly in response to changes in the average price of gold. The coins are currently priced at $1,539 based on an average price of gold in the $1,150 to $1,199.99 range. When applicable, prices are typically adjusted around mid-day on Wednesday.
As of the last weekly sales report, the US Mint has recorded sales of 108,207 of the Ultra High Relief Double Eagle Gold Coins. The pace of sales recently settled into a range from 1,000 to 1,500 coins per week, suggesting a final mintage below 120,000.
