Putting an end to an annual tradition that had stretched back more than two decades, the United States Mint did not issue the 2009 Proof Gold Eagle. The coins were announced as canceled due to the Mint's inability to source adequate supplies of precious metals blanks to fulfill demand for bullion coins.
Public Law 99-61 required the United States Mint to produce American Gold Eagle bullion coins in quantities sufficient to meet public demand. Throughout the second half of 2008 and the entire year of 2009, the US Mint had trouble fulfilling this requirement due to robust demand for gold bullion. The US Mint rationed the available supply of coins to their network of authorized purchasers and sourced all incoming precious metals blanks to the production of bullion.
On October 6, 2009, the announcement was made that the Proof Gold Eagle would not be produced or offered to collectors that year. The US Mint cited the requirements of the law and the unprecedented demand for bullion cons. Similarly, the proof Silver eagles were not minted this year.
Collectors were extremely disappointed by the development. The proof versions of the American Gold and Silver Eagle had been issued without fail since 1986. This would be the first year the coins were not issued. Although some attempts were made to change the Mint's course of action, none were successful.
The year closed without production of the coins taking place. Collectors awaited the release of collector Gold and Silver Eagles in the following year.
During 2009, the market price of gold would rise from a starting price of $847 per ounce to more than $1,200 per ounce. In the final month, the price pulled back slightly to close the year at $1,087 per ounce.
Proof Gold Eagles For Sale
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2006-P American Gold Eagle Proof 4-pc Year Coin Set - PCGS PR69 --First Strike
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