At Provident, we’re constantly looking for products that let you invest and collect at the same time. In today’s market, for approximately the same price as generic bars, you can own gold coins with interesting stories, beautiful designs, and historic significance. Typically, these numismatic items sell for significant collector premiums, but in today’s quieter bullion market, they can be picked up at bargain rates.
Proof Gold Eagles are a prime example, but they may not remain at historic low premiums for long. As you may recall, the US Mint issue price for Proof Gold Eagles is usually $275 to $325 per ounce over spot. That’s a hefty 20 to 25% premium! However, we’ve had the good fortune of finding some “pockets” of Proof Gold Eagles at just a touch over spot. Every time we do, we make sure to alert our customers.
Now, however, the Proof Gold Eagles market supply seems to be drying up. We keep searching for heavily discounted deals on this material, but the coins don’t exist like they used to. It also appears that premiums are starting to inch upward. As dealers start running low on Proof Gold Eagles, they’re willing to pay more and more for the product.
We still have a quantity of beautifully-priced Proof Gold Eagles at historically low premiums. In fact, the coins available today are scarcer 1987 two-coin sets. When the American Gold Eagle program first launched in 1986, the proof version only existed in a 1 oz size. Then in 1987, the mint unveiled a two-piece set consisting of a 1 oz and ½ oz Proof Gold Eagle. From 1988 onward, the mint struck Proof Gold Eagles in all four sizes (1/10 oz, ¼ oz, ½ oz, and 1 oz). Thus, these 1.5 oz (1 oz + 1/2 oz) two-coin sets were issued in 1987 only.
If you’re unfamiliar with how Proof Gold Eagles look, the best term to describe them is “stunning.” Each coin is struck multiple times, thus ensuring a razor-sharp strike with complete definition. The dies are specially prepared with deeply mirrored fields and frosted design elements. The result is a stunning cameo contrast. Once struck, each Proof Gold Eagle is placed inside a hard plastic capsule and delivered to collectors in a velvet box. Between the special minting process and the government-issued packaging, the coins present beautifully.
The best part about these Proof Gold Eagles today: the price. We can offer these two-coin Proof Gold Eagle sets at just $54.99 per ounce over spot. For just a tiny premium over the cost of a regular 1 oz and 1/2 oz Gold Eagle, you can upgrade to Proof! Furthermore, these aren’t generic Proof Gold Eagles; they’re harder-to-find 1987 two-piece sets. As these sets were just made for one year (and over three decades ago) they’re significantly scarcer than the typical Proof Gold Eagle.
For years, these coins sold for $200 to $400 per ounce over spot; we wouldn’t be surprised if Proof Gold Eagles return to these premiums. We have exactly 27 sets available at today’s price of $54.99/oz over spot; be sure to grab a set for your collection while our inventory remains.
