What’s next for the Eagle?

In October 2009, the United States Mint made an important announcement regarding their offerings for the American Gold Eagle. This coin was the first gold bullion coin offered by the United States Mint. It has been minted in 22 karat gold and has its weight, content, and purity guaranteed by the government. The coins have been issued each year since 1986.

The coins were created primarily as a method for allowing cost effective investment in precious metals. Along the way, the US Mint has also produced collectible versions of the coins for collectors. This began in the first year of issue, when a proof version of the 1986 Gold Eagle was minted. Over the years, the collectible coin offerings increased to include fractional proof coins, collectible uncirculated coins, and a few other special issues.

The announcement from the Mint indicated that the 2009 Proof Gold Eagle and 2009 Uncirculated Gold Eagle would not be produced. Under law, the Mint is required to produced bullion coins in quantities to meet the public demand. Due to an ongoing period of heavy demand, all precious metals blanks were sourced to the production of bullion coins. Since there was apparently no end to this situation, the decision was made to forego production of the collector coins.

In the future the US Mint has indicated that they will work to obtain greater supplies of precious metals blanks in order to produce both bullion and collector Gold Eagles. Will they be successful in fixing their supply issues, or will the one year cancellation threaten to extend into future years?