Endangered Golden Eagle To Make Ultra Rare (And Brief) Appearance, Then Disappear For Extended Period (Or Ever)

Tyler Durden's picture

WASHINGTON - The United States Mint will open sales for the 2011
American Eagle One Ounce Gold Uncirculated Coins at noon Eastern Time
(ET) on May 5, 2011.  The coin's cost is based on the United States
Mint's pricing structure for precious metals products.  Current pricing
information is available at http://usmint.gov/pressroom/index.cfm?flash=yes&action=goldplat.

Orders will be accepted at http://www.usmint.gov/catalog or
at 1-800-USA-MINT (872-6468).  Hearing- and speech-impaired customers
with TTY equipment may order at 1-888-321-MINT (6468).  A $4.95 shipping
and handling charge will be added to all domestic orders. 

demand will determine the number of 2011 American Eagle One Ounce Gold
Uncirculated Coins minted.  There is no order limit. 

American Eagle One Ounce Gold Uncirculated Coin is the collector version
of the American Eagle Gold Bullion Coin.  Struck on specially burnished
blanks, the coin bears a finish similar to its bullion counterpart but
has a "W" mint mark, indicating its production at the United States Mint
at West Point.  Each coin is encapsulated in plastic and mounted in a
presentation case accompanied by a Certificate of Authenticity.

on the obverse of the 22-karat gold coin (heads side) is Augustus Saint
Gaudens' full-length figure of Liberty.  The coin's reverse (tails
side) features Miley Busiek's image of a male eagle carrying an olive
branch flying above a nest containing a female eagle and her eaglets. 
United States Mint, created by Congress in 1792, is the Nation's sole
manufacturer of legal tender coinage and is responsible for producing
circulating coinage for the Nation to conduct its trade and commerce. 
The United States Mint also produces proof, uncirculated and
commemorative coins; Congressional Gold Medals; and silver, gold and
platinum bullion coins.

Note:  To ensure that all members of
the public have fair and equal access to United States Mint products,
orders placed prior to the official on-sale date and time of May 5,
2011, noon ET shall not be deemed accepted by the United States Mint and
will not be honored.  For more information, please review the United
States Mint's Frequently Asked Questions, Answer ID #175.

h/t Alex Gloy

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TruthInSunshine's picture

Plan B. Minting whatever gold the U.S. can source and sell it for as much as it can to raise money to offset ongoing deficit spending (through 2085).

They're probably melting down and extracting gold from artifacts previously on display at The Smithsonian.


Hilarity in the Banana Ben Bernank Republic of Amerika will ensue:

covert's picture

why would they be discontinued? they have been around almost forever. I used to own a few. they are great. it's a bad mistake to discontinue them.



TruthInSunshine's picture

I'm not saying they should be discontinued. I'm merely saying that almost any action of the government, whether directly or through a proxy, has an element of circus evident in it now that has risen to the level of smack in the forehead.


Oh, look - here's one of the shrillest clowns out there, now:

Henry Chinaski's picture

Federal reserve notes ARE redeemable in gold.

tmosley's picture

And for a limited time only!

DoChenRollingBearing's picture

Friends of the Bearing here at ZeroHedge are invited to read the new Press Release downthread.

homecinemax's picture

I do not think that it will be worth the premium people are going to pay for it.

Meatier Shower's picture

Then by all means, please continue to collect fiat coupons instead.

UGrev's picture

he's suggesting, I'm sure, that you can convert your FIAT to gold using less costly avenues where they don't automatically give you a jar of KY for every order. 

Meatier Shower's picture

And I'm suggesting that in a few years it won't really matter what you paid for your gold, just so long as you have some.
Besides, KY is an excellent product!

granolageek's picture

This is the fancy collector's edition. If you want to pay bullion price, buy the bullion version. Every time the mint does one of the collectors editions and then limits production, Tyler posts a story implying that the mint is not going to produce the regular version either. 


It's comletely predictable. He did it with silver eagles last year. Because the mint is not producing more collectors versions so that they can use all their blanks for the bullion version, and now he's doing it for gold.


I knew what the story said as soon as I saw the headline.



earnulf's picture

Interesting that there is no limit and production is based on demand.   So when do they plan to cut off the ordering?    If production is based on demand, how to they determine the upper limit of the demand?

Cognitive Dissonance's picture

So when do they plan to cut off the ordering? 

I would set the over/under at 12 hours. But that's just me.

MrBinkeyWhat's picture

I was thinking 15 minutes, but you are more optimistic than I am, it seems.

Cognitive Dissonance's picture

That's just the initial setting of the over/under. As bets......um......indications of interest are placed they can move the line up or down to balance the book. All they care about is the 15% vogorish. :>)

MrBinkeyWhat's picture

Do you really think they will melt down some of the tungsten bars in Fort Knox? Maybe we will be able to get incandescent bulbs again. ;-)

faustian bargain's picture

Over/under of 12 minutes that they'll have "online ordering website technical difficulties".

homecinemax's picture

btw, if US gov was confiscating gold, would they have the right to confiscate Canadian Maples or Austrian philarminics?

Hansel's picture

Are you seriously asking if there is some law restricting the government?  HA!  2 international assassination attempts, 1 successful, and a war by executive decree already this year, but maybe there is some law that will let you keep your gold.  HA!  OM

Harlequin001's picture

The only way you can prevent it is to buy gold overseas through an offshore trust or non resident company. It is not illegal to own assets overseas, only to evade paying taxes on them if you are required to at home. The trick is to avoid the deeming provisions which allow the tax office to tax you as the beneficial owner of an offshore trust or company which is far more difficult but by no means impossible.

They cannot instruct you to sell what is not legally yours, they cannot tax you on what you have no entitlement to and they cannot take what is beyond their control...

Anything else is fair game.

Papasmurf's picture

That depends on their ability to take what isn't theirs through force.  That has nothing to do with the type of gold.

Urban Redneck's picture

JFK conspiracy theorists like to point to the triffin dilema and Executive Order 11110, but less publicised is Executive Order 11037, which reads,

"Except under license issued therefor pursuant to the provisions of this order, no person subject to the jurisdiction of the United States shall, after the effective date of this section, acquire, hold in his possession, earmark, or retain any interest, legal or equitable, in any gold coin, gold certificates, or gold bullion, situated outside of the United States or any securities issued by any person holding, as a substantial part of his assets, gold as a store of value or as, or in lieu of, money and not for a specific and customary industrial, professional or artistic use. The Secretary of the Treasury, subject to such other regulations as he may prescribe, is authorized to issue licenses permitting the acquisition and holding by persons subject to the jurisdiction of the United States of gold bullion situated outside of the United States which the Secretary or such agency as he may designate is satisfied is required for legitimate and customary use in the industry, profession, or art in which such person is regularly engaged." 

Cognitive Dissonance's picture

Is it an indication of where the price of Gold is going that the "Pricing of Numismatic Products Containing Gold Coins" chart the US Mint produces shows a Gold range of $2,000.00 to $2049.99 at the bottom? Or are they just projecting one of many possible realities in our multi-verse?


redpill's picture

Why give them your name?  Buy from your local coin dealer in cash.

Sudden Debt's picture



And why doesn't the indicated value on the coin doesn't change? Why not put 1500$ on the coin? 20$ WTF!

It is legal tender but WTF, THIS is so contradictorial to the real value of the dollar!

hambone's picture


I simply don't get it (not unusual) but why pay a significant premium to the mint when you can buy for hundreds less in secondary?  What is the upside and why would anybody pay up?

TheGreatPonzi's picture

I agree, there's no point in giving money to the US mint. 

You can have uncirculated Krugerrands for far less.

But Americans are "patriot", so they turn in priority to their official institutions... lol

RockyRacoon's picture

It is a collector coin, doofus.  It has a numismatic premium.  If you want the regular bullion Eagles then you'll have to go to the primary dealers or secondary market.   The bullion coins are sold in bulk to selected dealers for distribution to the weary masses.   Get with the details so you don't make a dunce of yourself.

TheGreatPonzi's picture

Collector? Who would want to buy a coin from the official mint of a bankrupt and disgusting country at a premium, thus directly giving money to the US government? 

Cognitive Dissonance's picture

As RR has pointed out many times in the past the true value of Gold and Silver numismatic coins may be that they are considered US currency and thus less likely to be confiscated than general (US Gvt or non US Gvt) bullion.

Less likely, not unlikely.

RockyRacoon's picture

True.  Even when gold was confiscated there was an exclusion for collector coins.

What part of article was misunderstood about these being numismatic coins?

The American Eagle One Ounce Gold Uncirculated Coin is the collector version of the American Eagle Gold Bullion Coin.  Struck on specially burnished blanks, the coin bears a finish similar to its bullion counterpart but has a "W" mint mark, indicating its production at the United States Mint at West Point.  Each coin is encapsulated in plastic and mounted in a presentation case accompanied by a Certificate of Authenticity.

The shallowness of some of the comments here about the "premium" and how they ain't gonna pay it reveals a serious lack of information at levels where one would think it most important.

traderjoe's picture

RR - I'm usually on your side but I want to disagree about your thoughts on the premium issue. I think ppl here get it. What they are saying is that they are not coin collectors, they're gold collectors. And therefore they place no value on the numismatic element. To each their own...

RockyRacoon's picture

Exactly!  We are on the same team.  This "article" is nothing but a Mint press release and should not even be on ZH.   The obvious objective, as is evidenced by the "title" of the "article" is to inflame and provoke. 

Bananamerican's picture

"Collectee" is the operative phrase....

traderjoe's picture

It's a legimate question. Personally, I wouldn't pay that sort of premium. I'd rather pay as close to spot as possible on a Kangaroo. Paying that premium is a gamble that the premium holds or even increases. That's a risk I don't want...

MrBinkeyWhat's picture

Me too! I love "junk silver". Go to yard sales and estate auctions. Those pre-1965 dimes are really sweet! And after SHTF will make great barter items.

takeaction's picture

I have always wondered that myself...I think I figured it out.  When traveling this world, you are not allowed to carry more than $10,000 in currency.  Well, if you just carry $10,000 at face value of 1 oz American Eagles(  $50 each), you can transfer $320,000 in gold out of this country at a time with no laws being broken. Correct?  I actually think this was done on purpose.  Same with Silver Eagles ($1).  You can take 10,000 of these out of the USA without a red flag...it is just currency...right? 10,000 eagles allows you to transfer $500,000 out of this country with Customs Forms.  Think about it.

Urban Redneck's picture

CBP/ICE will have an fun time with anyone who tries that...

DoChenRollingBearing's picture

Urban Redneck is correct.

DO NOT take over $10,000 of gold out of the USA without declaring it!

I have told my story about taking out over $10,000 in gold before, so I will not repeat it other than to mention to everyone that the (outbound) US Customs Agent told me "Right answer" when I declared their real value.

DosZap's picture

So the USC A, basically said the US Gov(he/she) works for is a LIAR?.

Face value, legal tender is $50.00.

So, your saying you must declare SPOT value at the Customs?.

Hell of a deal.

LOL, really, the only reason is they (us.govz), puts Gold at $42.xx per oz.

So, it's gotta have that $50.00 on it...............so when they wannna collect em', they give the fools $50.00 fiat.

What a racket.

Harlequin001's picture

Let's not overlook the fact that there may also be limits where you're going on how much you can import, and they won't value it at $42/ounce...

Might I suggest that the ideal solution is a trade off, to hold some of your bullion somewhere where you can use it as collateral for a credit line that you can take in any currency in any country. Not saying you should keep it all there, but some of it certainly avoids the need to move or store large quantities of coins or bullion at home or move it with you as you go...

aphlaque_duck's picture

Maybe, if the TSA goons don't just pocket it.

MrBinkeyWhat's picture

Customs goes with "face value", for declaration.

MrBinkeyWhat's picture

The essence of a modern fasciststate is to have a bewildering array of "regulations" and "laws", so that everyone is a "criminal", or better still a "terrorist". Criminals still have "some" rights.

Hail Victory! >sarc off

Urban Redneck's picture

Definitely a fascist state, inherently contradictory definitions are used in different statutes.  Therefore, the traveler is at the mercy of the state, and if the traveler makes even a verbal admission, much less a protest, to the state that the coins are worthless than $10,000, then the State turns around in court and tells the judge that they would happy to turn over less than $10,000 in FRNs, and the traveler is sent packing.  At least there is still a right to remain silent in the US, even if few are smart enough to avail themselves of that right. 

MrBinkeyWhat's picture

Hunker down Bro! .22 ammo (copper & lead) also makes for great barter goods. (oops...out loud voice)