A recent post in Kitco got me wondering. A bullion coin photographed in a case, described as uncirculated. What is the difference between that and the same coin in perfect condition, sold in a coin capsule? Steve
Yes, US bullion. Thanks for the info. I'm still learning. What is the W minmark, and why does it make the coin more valuable? Steve
The U.S. Mint issues bullion coins through its authorized distribution channel. By law, the US Mint cannot issue bullion coins directly to the public. The US Mint creates collector versions of bullion coins that have a special burnished finish and the mint calls them "uncirculated" and marks them with a W mint mark, indicating their production at the West Point mint. The coins are identical to the bullion except for the flat, satin, burnished finish and the W mint mark. The confusion about "uncirculated" coins, either from the mint as collector versions, or from distributors as bullion is a common challenge. As a previous post already stated, the US Mint also issues the proof versions that have a reflective / mirrored surface created through special minting processes.
The argument about actual value is hard to understand. I side with the argument that as silver bullion values rise, the extra premium for new slabbed ASE's will diminish. From an investment standpoint, I think the $1.50 extra for an ASE over a identifiable art round or bar makes sense, I own some of each. I am not interested in paying more for proof or slabbed ASE's though. Look at the values of common junk 90% coins. The higher the price of silver goes the extra value placed on graded coins is going away faster and faster.
