Does anyone know if the mint is allowed to sell the proof and burnished unc. gold, silver, platinum eagles dated 2007 after the first of the year or are they required to discontinue sales 12-31.
Not exactly correct spock - all sales of bullion coins must stop before the next year's product line can be sold.
Brother GD the question was specific to if they need to stop by 12-31 so I hit the bulls eye with that one
Well, again, not exactly spock. For some of the bullion coins like the unc versions of the ASE, AGE and APE go on sale Jan. 2nd every year. That means that the sale of the previous year's coins does stop on 12/31.
the ordianry collector cant buy the bullion directly from the mint? i dont know if they changed that though?
You are partially correct. The ordinary collector can buy the Proof versions and for for the past 2 years the unc version with the W mint mark. But the ordinary collector cannot buy the regular unc (business strike) versions of the coins from the mint. Only specially licensed dealers can buy those from the mint. But my previous answer applies to both collectors and the dealers. Sales stop on 12/31.
Doug, does that mean that whatever that wasn't sold must return back to the recycling pot or the mint only strikes them when there is a demand for them? Not too sure how the it works.
Spock & Doug, I appreciate your help here. I was referring to the products available from the mints website rather than the dealer network bullion coins. I thought back in January I saw Gold Proof Eagles for sale from 2006, but I may have been wrong. Just to confirm this, when 2008 rolls around any excess Gold, Silver, and Platinum Eagles from 2007 are not available for sale from the mints website???? Correct? Thanks, Chris
The mint strikes the coins to demand as prescribed by law, however any unsold bullion coins from say 2007 must be returned to the mint before the same type of coin dated 2008 can be sold. The left over coins are then melted down.
You may have seen them available on the mint's site. But as I said, the determining factor is when the following year's coins go on sale. So, coins dated 2006 can be sold until they want to sell coins dated 2007. So whatever day it is, when they start selling coins dated 2007, they have to stop selling coins dated 2006 the day before that.
