2008 American Gold Eagle
The 2008 Gold Eagle was released during tumultuous times. Global financial troubles caused a renewed interest in gold that had implications for the sales of Gold Eagle bullion coins, as well as collector coins.
For approximately the first six months of the year, 2008 Gold Eagle bullion coins sold around the typical levels of the past several years. Starting in July, sales began to increase dramatically until the US Mint was forced to suspend sales of the gold bullion coins in August 2008. Sales resumed two weeks later on a rationed basis. Despite the suspension and rationing, sales had exceeded 800,000 ounces across all denominations by year end.
The 2008 Proof Gold Eagle was offered for sale at a time when the price of gold was high. In the following weeks, the price of gold dropped, but the coin prices were not updated. As a result, the coins remained on sale at high premiums, which kept buyers wary of making purchases. Towards the end of the year, prices were finally adjusted downwards and the remaining coins sold out quickly. The slow sales period in the early release period resulted in low mintage for the various 2008 Proof Gold Eagles.
The US Mint also offered the 2008-W Uncirculated Gold Eagle. These were the newly introduced collectible uncirculated coins, carrying the “W” mint mark. The pricing situation was similar to the proof coins with a slow early sales period. The uncirculated coins eventually sold out in January 2009, with final mintages that set new lows. In particular, the 2008-W $10 Gold Eagle had a mintage of 8,883, making it the lowest mintage Gold Eagle across all options for the entire series.
During 2008, the price of gold ranged from a low of $712.50 to an all time high of $1,011.25 per ounce. Gold reached its high in March before several sharp declines brought the price to its low in October. Gold recovered to close the year at $880.25 per ounce, representing a slight gain for the year.
2008 Gold Eagle Specifications
Date: 2008
Mint Mark: none (bullion), W (proof and uncirculated)
Composition: 91.67% gold, 3% silver, 5.33% copper
Weight ($25 Coin): 0.5454 troy oz (16.965 grams)
Diameter ($25 Coin): 1.063 inches (27.0 mm)
Thickness ($25 Coin): 0.085 inches (2.15 mm)
Designers: Augustus Saint-Gaudens (obverse), Miley Busiek (reverse)
2008 Gold Eagle Mintage
Bullion Mintage: 710,000 (1 oz), 61,000 (1/2 oz), 70,000 (1/4 oz), 305,000 (1/10 oz)
Proof Mintage: 30,237 (1 oz), 22,602 (1/2 oz), 18,877 (1/4 oz), 28,116 (1/10 oz)
Burnished Mintage: 11,908 (1 oz), 15,682 (1/2 oz), 8,883 (1/4 oz), 12,657 (1/10 oz)
2008 Gold Eagles For Sale
