Secondary market prices soar for sold-out American Eagles
- Published: Nov 13, 2020, 9 AM
Buyers of both Proof 2020-W End of World War II 75th Anniversary American Eagles are already profiting from sales of the coins on the secondary market.
Examples of the limited-edition privy-marked Proof 2020-W End of World War II 75th Anniversary American Eagle gold $50 coin have sold on the secondary market for more than five times the U.S. Mint’s $2,600 issue price for the coin released Nov. 5.
Similarly, secondary market sales of the limited-edition privy-marked Proof 2020-W American Eagle silver dollar also reached multiples of the Mint’s $83 release price.
Hundreds of the privy-marked gold and silver American Eagles were being offered online through eBay; most of the completed sales were Buy It Now options at prices set by the sellers. As well, a number of sales of examples of both coins were completed in the eBay auction format.
Most of the completed sales were for coins offered still in their original U.S. Mint packaging.
Among the gold coin sales observed, the lowest Buy It Now price paid in a completed sale of a gold Proof coin was $2,500 on Nov. 7, and the highest price paid was $13,999.95 on the same day. Both coins were in original Mint packaging. Other completed gold coin sales Nov. 7 included one for $6,000.
Nov. 8 completed gold coin sales, all for coins in original Mint packaging, included three coins at $13,000 each, another single coin at $9,400, and another at $12,990.
Auction sales Nov. 8 included one gold coin selling at $12,500 from 47 bids placed by 22 bidders; one at $12,100 from 16 bids placed by 11 different bidders; and one for $13,800 from 42 bids placed by 11 different bidders.
Completed sales for the privy-marked American Eagle silver dollar included several Numismatic Guaranty Corp. Proof 70 coins that sold Nov. 9 at $1,025, $1,008, $985, $978 and $934.
Uncertified coins still in original Mint packaging were being sold on eBay for between $500 and $600 per coin.
Ronnie Abbazio, project manager of sales and marketing for Certified Collectibles Group, the parent to Numismatic Guaranty Corp., said Nov. 10 that NGC had received a number of the Proof American Eagles silver dollars for authentication, grading and encapsulation. Abbazio said NGC expected to begin receiving gold American Eagle submissions by the end of the week.
Officials from Professional Coin Grading Service, ANACS or Independent Coin Graders had not as of Nov. 10 responded to Coin World inquiries about submissions of the two limited-edition coins.
Latest sales figures
Both numismatic products went on sale from the U.S. Mint at noon Eastern Daylight Time Nov. 5.
The gold coin’s maximum issue is 1,945 coins, and the Proof silver coin has a 75,000-coin maximum.
First-day sales reached 1,737 for the gold Eagle and 71,202 for the silver Eagle, enough orders to push the products into “Currently Unavailable” status.
The products were returned for additional sales on the morning of Nov. 7.
After preliminary order reconciliation, 182 of the gold coins and 2,069 of the silver coins became available.
As of 10 a.m. Nov. 10, sales totaled 1,855 for the privy-marked gold coin and 73,393 for the privy-marked silver coin, according to United States Mint spokesman Michael White.
As of 11 a.m. Nov. 13, White's updated sales figures totaled 1,923 for the the privy-marked American Eagle gold $50 coin, and 74,770 of the privy-marked American Eagle silver dollar.
Collectors reported multiple difficulties in attempting to order either coin option through the Mint’s website.
Customers Nov. 9 encountered similar obstacles when trying to place orders for the Proof End of World War II 75th Anniversary gold $25 coin and Proof silver medal.
Collector Jeff Kelsey reported by email to Coin World on Nov. 9, “This was the worst Mint experience yet. I would get all the way to the final review, click on it for the confirmation of my completed order, and then get thrown back to ‘checkout as a guest,’ and I would have to start again. I must have gone through this cycle close to ten times before it said that the item was no longer available.”
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