2010 Proof Silver Eagles

The US Mint issued a press release today that the SAE Proof coins will go on sale on November 19th. The issue price will be $45.95 with a 100 coin per household limit.

http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1167

At this price, the coins will have about a 100% premium over current spot ($22.01) but still a bargain as common dates are selling for over $50 each at coin shows and coin stores.

I will hopefully try for 2 coins. Anyone elso going to buy at this price?

Nighthawk

 

Log in or Sign up to hide this ad.

Wow, $46 dollars! That is quite an increase over the $33 dollars that they were in 2008 also. I will try for 5. I doubt I will have a problem because the mint will likely make the most they have ever made, flooding the market and ruining the price. Well, enough with my optimism. I will still get them, and the uncirculated if they release them.

 

With those premiums, I think I'd rather opt for a proof gold eagle just because the premiums aren't raping the buyer over 100% of the spot price. Obviously there is going to be enough demand to flood the marketplace I'm sure.

I'm not sure I'm going to buy anything from the mint this year. I've been patiently saving up to obtain another type proof for ye ole type set I'm working on.

 

I'll pick up two of these to add to the collection.

 

The price on eBay for a Proof American Silver Eagle is approx. $50++ so the Mints asking price seems reasonable. The Premium does appear excessive but that's what the market is paying. Looks like the US Mint is acting like business people rather than a Government Agency. Isn't that what the public has been demanding of the Gov't?

Be careful what you ask for, you may get it! LOL

 

I believe that Silver was in the $16.50 range back in 2008, so the spot price is up about 33%. That would bring the price today up to $44. The Mint increased the price an extra $2 to cover potential appreciation in the next month and a half and labor and material cost increases in the last two years. Seems reasonable to me.

The Mint has said that there would NOT be any 2010 uncirculated eagles - Gold or Silver.

I'm just glad that they will be issuing the Silver Proof in 2010. Thank you

 

Good luck gettin' em. These coins are gonna go fast!

 

I wish we'd get it from the other departments as well.

 

Not sure what/if there will be a household minimum or not.

I've had my subscriptions in all last year and again this year for the Proofs...

I've been advising others to do the same for the eventuality of these coins being released. :thumb:

 

Proof AGEs are also marked up, upwards of 30-35%.

 

Subscribers tend to get served first.

 

True, but at least it's not over 100% of the spot price. Uh oh. Shhhhhhhhhhhhhhhhhhhhhh.....

 

household max is 100 ASE Proofs per the mint

 

Anything could happen to the PoG between now and the 10/7 and PoS ahead of 11/19... Just hope they won't increase the AGEs accordingly if gold moves up this week.

 

Any guesses on how many will be produced/sold?

 

That's pretty surprising with a supposed mintage limit of 200,000. I guess they want them to move fast before the end of the year... hope they are sitting IN inventory ready to ship too.

 

They have been making between 600k and 800k in recent years so I bet they try to do at least that, if not more. They will mint double that amount if they can because they know they will sell. I think it will depend on the capacity they allocate towards it. I think they expect demand to be through the roof so they will do all they can to make $$ on it. With a household limit of 100, I think they expect to make a boatload of 'em.

 

200,000/month as mentioned earlier and in a few other CT threads... taken from the mouth of Director Moy in statements made in recent weeks:

from US Mint to Issue 2010 Proof Eagles, Research Coin Compositions in HR 6162 CoinNews.net 09/27/2010

 

I believe that the offical Mint statement was that they could produce 200,000 / month. What is surprising is that the legislation to authorize the Mint to produce the Proofs only passed in the US House of Representatives. The Senate passage and Presidential approval is pending. Maybe the Mint really had the authorization all the time...Humm.

Probably have a max mintage in the 600,000 -700,000 range, which is below prior year totals, thus making 2010 a "Low Minatge" Key Date year.

 

Maybe I will increase my subscription to 10 coins then. Even if it goes bad, I should be able to sell them for at least cost.