Why does the US Mint

always have silver for commems but not for ASEs? None for 2009, will they mint ASEs for 2010?

 

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The silver has to be mined in the good old USA and can't be more then Two years old. Not to sure about the 2 year time frame.

 

What can you say, Its the U.S Mint!

 

Wait! That question was on final jeopardy last night. As I recall, nobody got the correct answer. Edmund Moy was sitting in for Alex Trebec and when asked, he wouldn't give the answer either....

 

Am I missing something? They minted more 2009 ASE's than any previous year. If you mean proofs, there is this law they have to sort of follow.
Guy~

 

The law says that enough silver ASEs have to be produced to meet the public demand, which has been very high. No time/silver blanks left for the 2009 proofs. I collect the proofs and was disappointed, but it is an actual law that must be followed. Write your Congressman and Senator and complain, though I doubt they could care less.

 

Law, shmaw. I don't buy the excuse that demand for these pieces is so great that they can't make a few hunded thousand proofs for collectors. Absolute rubbish.

 

In 2009, they sold over 30 million ASEs. This compares to 20 million in 2008 and 9 million in 2007. Given that is ~100% growth each year, I can understand why they halted the proof version especially since the law states it has to come from USA sources. Imagine being told that you have to meet a demand on a particular product, and that demand has been going up 2X/year, but your only approved source isn't increasing production at the same rate. I'm willing to give the mint a pass on this even though it does kind of stink.

The combined UNC and PF versions of the ASEs have been running over a million coins/year.

 

+1 to mr green.

they coulda made them if they wanted to.... I think they are attention *****s and just like the attention they get from canceling an extreeeeeemmmmlllyyyy popular coin. Gives people the impression EVERYONEs buying ASEs and they cant make enough and thats all just rubbish. Called working guys.... how about trying a bit harder, maybe stay late on friday? lol damn us mint and their slacking

 

They should have offered the proofs on sale for one day only and just made 50,000 of them... at least some people could fill their collections that way

 

I have no idea what's going on with the US Mint.

BUT, I'm getting a little sick of hearing that "public demand" carp since the US Mint does not sell these to the public. They ONLY sell them to 14 authorized dealers which may or may not be numismatic related.

Their "public demand" amounts to the number and quantity of orders received by these 14.

In the past, Proofs were minted early to mid year with no concern over whether or not "demand" would be met at the "end" of the year.

Why they've switched up is unknown to me other than to break some record.

 

Law, shmaw. I don't buy the excuse that demand for these pieces is so great that they can't make a few hunded thousand proofs for collectors. Absolute rubbish.


Read more: http://www.cointalk.com/t100981/#ixzz0kA0SKXbW


I agree. There is steady "public demand" for silver proof American Eagles, usually in the 600,000-700,000 range per year. I never could understand the logic (or excuses) of why these were not minted and placed on sale, especially when the US Mint knew they would be sold and make some nice money on them, as well.

 

Simply put, because they couldn't make enough bullion ASE to meet the demand. If you will recall the mint had to rations the 2009 bullion ASE to the dealers as well because there just weren't enough planchets. If they could have gotten the planchets they probably could have sold 40 million bullion coins. When you are 10 million planchets shy on the bullion demand which by law you have to try and satisfy, you don't divert a few hundred thousand planchets to a program you don't HAVE to produce.

 

The laws that direct the mint are a matter of public record. Explain *why* the Director of the US Mint should allowed to break the law.

Why link to this thread?

Since the law is rubbish, what guidelines should the mint follow? Demands from collectors?

The mint doesn't produce coins to please anyone, or at a whim, it produces coins in accordance with US laws.

 

Actually, they didn't mint proofs or burnished silver eagles last year, but a small number of uncirculated ones that they rationed the sale of, mostly to distributors that do a large volume of business with the mint.

I picked up a 2009 unc. silver eagle last week from my dealer, and the coin is in an H.E. Harris Co. holder.

 

It's not the Mint that switched up anything, Congress legislates the public laws the Mint must follow in producing coinage for either commerce or collectors.

 

I'm not buyin' the fact that public demand for these pieces is so great that they can't mint a few hundred thousand proofs to satisfy collector demand. What differance would it Make? Collectors are part of the public. The mint can't rationalize this?

 

Then can rationalize it through their cost of sale.

Right now, currently, it's costing the Mint more to produce smaller denomination coins then their face value, ie dimes, nickels.

And what of the silver proof and uncirculated mint sets?

 

Indeed. They charge a pretty Penney for the items you mention. They make big money on these items. So where do ASE proofs figure in? I dare say they make a pretty Penney on these too.

 

The demand so so great that they couldn't meet it even AFTER they diverted all the proof planchets to bullion production and they still had to ration the bullion dealers because they couldn't satisfy the demand.

The difference that to divert planchets away from the bullion production would require them to violate the law.