2016-11-10 Thu

On 23rd October, a PCGS MS-70 1999-W American Eagle quarter-ounce gold bullion coin made out of unfinished Proof dies carrying the W Mint mark was sold for $10,028.70.

Gold was priced at $1,072.70 an ounce at the beginning of the year and slowly reached $1,350 level in summer. Since then there was a slight slump as people waited for the results of the presidential elections. Even then, collectors love rare and unusual gold ones.

The U.S. Mint struck gold coins in 1999 to meet increased demand for physical gold products. Y2K fear was one of the most important factors that drove this fear.

The Mint accidently used unpolished Proof dies with the W Mint mark of the West Point Mint to strike American Eagle gold tenth-ounce $5 and quarter-ounce $10 bullion coins. Only Proof coins were intended to carry the W Mint mark.

Such an error coin, that too in Mint State 70 grade is very rarely found. Just 10 examples in MS-70 exist today. Heritage sold a different example for $11,750 in October.