American Eagle 2018 One Ounce Gold Proof Coin 1 1

[Nyxator]

Dear all,

I am relatively new in coin collecting and I would like to have expert opinions about this coin.

I read some generic information on the American Mint website: https://catalog.usmint.gov/american-eagle-2018-one-ounce-gold-proof-coin-18EB.html

And more generally on the America Gold Eagle program on Wikipedia: https://en.wikipedia.org/wiki/American_Gold_Eagle or on the NGC website

 In particular, several points remain obscure:

1) Are the minting differences between the proof and the bullion only in the addition of the "W" mark of the mint and the higher production standards, or is there something else?

2) More generally, are there appreciable differences between the 1986-2020 versions?

3) I don't get the quantities produced, on the mint website (first link) it says: Mintage Limit: None Product Limit: 25,000 Household Order Limit: None

But how many of these coins were effectively produced?

4) Could you recommend some authoritative texts where I can find detailed information?

5) Finally, the aforementioned coin (which I like very much) was offered to me by a very serious and reliable seller (in the original mint condition). Which would be a fair price (also considering the current value of gold)? Could this coin have future collectible value, having been produced in limited quantities and in relation to the popularity of the American Gold Eagles? (I am thinking to both the US and European market)

I thank you in advance for the information which I am sure you will provide

Marco

 

[Walter Holmes]

From 1986 to 2022 the American Gold Eagle Proof DCAM / W mint mark all have the same price range of $3100 - $3600. The exception is the 2020 proof DCAM with a V75 privy for the anniversary of WWII. Mintage was limited to 1939. Value $12,000 - $20,000
 

Values are the same for original packaging and PR70 grades. If you send it in to be graded and it comes back PR69 you’ll lose $400-$500. 

The alternative proofs are 2021 Type 1 and 2021 Type2. These have limited mintages of  4404 and 5562 respectively. These might, no guarantee,  have a better chance of increasing in value in the future. 
 

For the money of a proof in all years being the same except one I wonder if it’s more prudent to purchase a business strike bullion Eagle. At least that way,  the pricing will rise and fall with the spot  price of gold plus premium which is much less than a proof. Good luck. 

[GoldFinger1969]

On 5/5/2023 at 7:31 AM, Nyxator said:

Dear all, I am relatively new in coin collecting and I would like to have expert opinions about this coin. I read some generic information on the American Mint website: https://catalog.usmint.gov/american-eagle-2018-one-ounce-gold-proof-coin-18EB.html And more generally on the America Gold Eagle program on Wikipedia: https://en.wikipedia.org/wiki/American_Gold_Eagle or on the NGC website  In particular, several points remain obscure:  1) Are the minting differences between the proof and the bullion only in the addition of the "W" mark of the mint and the higher production stand ards, or is there something else?  2) More generally, are there appreciable differences between the 1986-2020 versions?

3) I don't get the quantities produced, on the mint website (first link) it says: Mintage Limit: None Product Limit: 25,000 Household Order Limit: None But how many of these coins were effectively produced? 4) Could you recommend some authoritative texts where I can find detailed information? 5) Finally, the aforementioned coin (which I like very much) was offered to me by a very serious and reliable seller (in the original mint condition). Which would be a fair price (also considering the current value of gold)? Could this coin have future collectible value, having been produced in limited quantities and in relation to the popularity of the American Gold Eagles? (I am thinking to both the US and European market) I thank you in advance for the information which I am sure you will provide Marco

Marco...first, say hello to all my relatives over in Italy, the Naples region specifically.   Second, welcome to the forum. 

The one thing many of us stress with newcomers or people considering purchases is to ALWAYS reflect on what premium (if any) you pay and if that premium were to fade in the future if it would impact you negatively financially.  For most of us, spending $$$ that we consider discretionary and not our regular investment $$$, it's something we can live with.   But it's a good thing to think about with gold at $2,000 an ounce if it makes as much sense to pay $3,500 for a DCAM AGE PF-70 (or PF-69) since you can buy a regular proof usually for about $2,300 or less I would think (I bought one at FUN 2020 for about 10-15% over spot).

If you are thinking about a 1-time purchase of a SPECIAL gold coin, then I wouldn't worry about future value or pricing -- enjoy the coin.  But if you are thinking of REGULAR purchases, then you might want to make sure you buy coins closer to spot gold if you are price-sensitive.  Again, there's no right or wrong answer here -- just think of what YOU might feel or think if prices change in the future (premium pricing, not the gold price itself).

Also to consider:  other gold coins such as European and Vatican gold coins, as well as American Double Eagle Saints and Libertys.  Many of us are partial to those coins and you might want to "pay up" premium-wise for a classic pre-1933 American gold coin that is graded MS-65 or MS-66 where established values have been longer at play and you know they aren't making more of these (whereas there are always more new gold coins produced by the U.S. and other country mints).

We have several threads on various gold coins -- or feel free to continue to post here or create a new thread -- so there's plenty of information to absorb.

You didn't say if you are looking to build a collection....make regular purchases to hedge against inflation or other economic calamity (Euro problems or Italian political strife ?)....or looking at other non-modern gold coins.  If you have any thoughts or ideas on those, feel free to let us know.

Again, welcome to the NGC Forums. 

Edited May 5, 2023 by GoldFinger1969

[EagleRJO]

I would just stick with the standard gold eagle bullion coins, which is what I do.  I also stuck with 2020 and earlier 1 oz gold eagle coins as I don't like the new reverse with just the enlarged eagle head since 2021.

[Sandon]

    Welcome to the NGC chat board.

    I'll address your specific questions that don't appear to have been directly answered:

   1. Modern U.S. proof coins like this differ visibly from those made for circulation or for bullion investors in that they have mirror-like fields combined with heavily frosted devices, lettering and numerals that produce a "deep cameo" (a.k.a. "ultra cameo") contrast. The bullion version has uniformly frosty or matte-like surfaces. There have also been other collectors' versions with a "Burnished Uncirculated" finish (2006 to date) that is also uniformly but more coarsely matte-like than the bullion version and only in 2006 a "reverse proof" version that has frosted fields that contrast with shiny devices.

  2.  The technology used to create U.S. proof coins has changed somewhat since 1986, most notably to my recollection that the frosted devices, etc. that were once created on the dies by sandblasting are now created by lasers, but the appearance of the coins is only slightly different. (Any comments or corrections on this, @RWB?)

  3.  Your 2018-W proof one-ounce American Eagle gold bullion coin has a reported mintage (probably the approximate number sold by the mint) of 15,570 pieces, which is not unusual for recent issues. Some were sold individually like yours, others in four-coin sets that also included the tenth, quarter, and half ounce versions.

 4. I obtained my information from a recent edition of A Guide Book of United States Coins, popularly known as the "Redbook", which is the most popular basic guide to U.S. coins and is published annually in standard (462 or so page) and deluxe or "Mega Red" (1500 or so page) editions. The 2024 standard edition came out in April. It is available from its publisher at whitman.com. Whitman has also published a more comprehensive guide to this series entitled American Gold and Platinum Eagles, which the website currently lists as out of stock. You may be able to find it from other book dealers. (The "Redbook" can't be considered current as a price guide, and you should probably refer to online price guides such as those at ngccoin.com and pcgs.com. I would presume an uncertified coin in its original packaging to grade PF ("PR" at PCGS) 69. You can also subscribe (one example) to the online version of Coin World, which has a monthly price guide, at coinworld.com).

  5. Due to the high price of gold, most one ounce gold coins can now be considered "bullion-related" items, and nearly all one ounce proof gold American Eagles appear to trade for a few hundred dollars over current gold values in all grades, with the exception of the very low mintage and currently popular 2020-W "privy marked" issue.  In my opinion, high bullion prices place these coins out of the hands of the vast majority of collectors and dampen their future as collectors' as opposed to bullion investors' items. However, no one can predict what will or won't be popular in future.

[RWB]

On 5/5/2023 at 4:40 PM, Sandon said:

now created by lasers, but the appearance of the coins is only slightly different. (Any comments or corrections on this, @RWB?)

Laser "frosting" began in the 1990s and it took almost a decade to progress from grossly ugly "snakeskin" texture to something closer to the frosting created by chemical or sandblasting means. The change to laser "frosting" was implemented to reduce the time and expense of cuting friskets on proof dies.

Here is Adam Eckfeldt's (1854) recipe for chemical frosting for coin dies:

1/3 each nitric acid, hydrochloric acid, and sulfuric acid. Add "spirit of wine" (alcohol) 1/2 the volume of the acid, and then add 1/4 the total volume of water. (Example: 2 oz each acid = 6 oz. Add 3 oz alcohol (half the acid volume). Add 2.25 oz water (one-quarter of the 9 oz.). Total volume = 11.25 oz.)

Edited May 6, 2023 by RWB

[GoldFinger1969]

On 5/5/2023 at 4:40 PM, Sandon said:

In my opinion, high bullion prices place these coins out of the hands of the vast majority of collectors and dampen their future as collectors' as opposed to bullion investors' items. However, no one can predict what will or won't be popular in future.

You think the modest premium for the DCAM proofs relative to bullion-only coins is prohibitive ? 

I think it's within reason and probably not a buying deterrent.  25% or more to me would be a brake on demand.

 

Edited May 6, 2023 by GoldFinger1969