Are 2020(P) "Emergency Issue" silver eagle over priced?

I still have mine. It is for my youngest son since it is his birth year. I wonder what the price on these will be in 18 years he can take possession of his coins.

 

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Mint>authorized distributer>grading service>back to distributer> dealer or consumer or E-Bay or TV sales...many stops along the retail highway.

 

Thank you everyone!

I looked at the photos of the coin and cannot see any difference between the 2020(W) ASE coin and the 2020(P) ASE coin. Am I missing something? At least I do not see a mint mark for W or P.

 

You’re missing nothing but hype pushed by TPG’s and home shopping hucksters.

 

They have a slightly different look on the finish which is what made people suspicious in the first place though most people wouldn't notice it.

That said they're just labeling them from where they are minted as they should.

 

Nobody was suspicious on these the mint sent letters to the bullion distributors announcing this would be happening and how many boxes they struck and what the box numbers were so they could do this. The mint intended for this to happen 100%.

As far as it goes, if you like it buy it, it's your money. I don't know if it will have much more collector value in the long run, but keep it in that slab and if the slab gets damaged send it in the slab for reslabbing and always keep it in the slab because if you ever take it out it no longer is what you say it is.

This isn't something for me for various reasons. Mostly I'm just not a fan of how this went down, and that if it's cracked out its just any other 2020 silver eagle like all the others from West Point that are made.

But keep it in the slab and it might be worth more than spot price one day. I doubt you will ever get what you paid back for it though. Just my opinion. Too many of them and in the end its just the label on the slab that gives it anything but 250K are a lot minted.

I personally feel the mint did this to throw a bone to the bullion dealers on something to market, mostly the home shopping channels and websites and stuff. They prealerted the dealers to it happening and how to identify each box without opening them so they could get them all graded and market them.

 

The initial discovery of them people were suspicious and put in requests where the mint even stupidly tried to influence the market for them which happened years ago and has been happening to some extent most years.

The mint doesn't care and would prefer not to make any P ones. They get the SAME price for them as they do the others and have to put in more effort to make it happen. If you hadn't noticed the world got shut down including California who was one of the most shut down states but sure this was a plan from the mint to get the exact same price for a product that is much more difficult for them to make..........

It's really not that complicated. When they get overrun or need to they make some in Philly from time to time, they get nothing extra from it, they just finally smartened up with the new leadership and stopped trying to hide that fact like someone genius thought they should have years ago when it first happened

 

I dunno about that. I mean they sell the silver so that's something, and they get a bunch of happy bullion dealers rubbing ther hands together and giggling that they can charge $300 for $18 worth of silver and $30 in grading. And the grading companes in my opinion are just as bad. They are selling more grading and labeling by tagging slabs whatever the larger dealers want. That''s not exactly what I think as being impartial or "3rd party" or even very trustworthy.

They get something from it. But yeah I agree when it first happened some dealer figured out how to identify the boxes by production numbers and where they were minted. At this point though. It's as if the mint made 250K and told the dealers "hey we know business is hurting for you with this virus, here's the box numbers, get them slabbed and make a killing on the Internet and mail order".

I dunno. Just shady to me. Kind of looks to me like collusion or just something a bit below the board between the mint the dealers and the grading companies that will do whatever the high submitters want and the collectors suffering for the greed. The mint could have just made them and sent them out with no way to identify where they were minted instead of sending out letters with the lot numbers to look for and set aside, and the grading companies could not want to participate in it, but money is money and I gess that's more important than a bunch of people with MS70 slabs of theirs they paid $300 for but a year from now will probably sell for under $50. So goes most everything they sell on home shopping shows I guess.

It's not so much them striking some at a different mint to keep up with demand, it's the whole prealert letter to the distributors to look for the box numbers so they could juice buyers that grinds my gears. There's some sort of motivation there or they wouldn't have done that and left it up for the dealers to figure out. Could be the mint knowing it's gonna be slow on foot traffic with the virus and giving dealers something to put money in their tills by selling "emergency release" so their approved distributors don't fold during this tough period I guess... whatever. I can't be convinced THIS didn't matter to the mint because of how they did this one.

 

That's not how the mint sells bullion products.

A federal request for information revealed it initially.

Again not how they sell it. They just were smart enough to stop fighting requests to know

Again not how they sell bullion. It's just a broken record at this point continuing to say that so I will stop quoting at this point

Bullion is presold to authorized purchasers which are an incredibly small number of purchasers (which also have to pre buy large amounts) who then have to sell things to everyone else and are not allowed to hoard or gouge

There's no conspiracy, Cali got shut down they made a bunch to fill demand at Philly and TPGs have nothing to do with anything

 

Then educate us on how the mint sells to distribution instead of saying that’s not the way it done.

 

Lol, it's very easy to look up. Not my job to do your work for you

 

Well, you seem to have some inside information on a very straight forward process.

The mint makes coins -> sells them in bulk to distributors who then -> sell them to retail channels who -> sell to customers. I assume it's the distributors who send to the TPGs but it could be the retail channels.

Anything more than that?

 

You must send a sealed 500 coin box to the grader in order to get the phantom designation. It can be a private party, distributer, dealer, or anyone else who sends them to be graded.

 

Yes. Enough said.

 

Not allowed to hoard or gouge? I wouldn’t be so naive to believe that. In 2010 one authorized dealer sent an estimated 2700 ATB sets out the back door.

But besides producing labels for volume submitters I’d agree the TPG’s have no part in the distribution process.

 

I got one for 12$ over what a non labeled one is. So for 12$ Yes. Part of collecting is speculating. At least for me.

 

Always interesting to me to come here and see so many . . . coin collectors . . . who so despise the U.S. Mint, despise people and companies who sell coins to collectors, despise people who grade coins . . .

 

That having been said . . . personally I am not interested in coins whose significant characteristics can only be derived from a holder in which they are located. Oh, and FTR, I have plenty of slabbed coins, but the coins inside are still the same coins with the same obervable characteristics, whether in the slab or not. I don't hate TPG companies, and I really do not understand those who do. It's just that special labels, FDOI, parenthetical "mint marks", special signatures, etc. don't interest me personally. Let the mint actually mark the coin with the P mint mark (which I think they ought to be required to do, anyway, as long as they keep calling these items COINS), and it would be a whole different matter. I do not look down on or ridicule anyone else who is interested in that . . . just not for me, that's all. Collect what you like and like what you collect!

As far whether they are over priced . . . there is a pretty free and vibrant market for coins, so won't the market determine the price by supply and demand? Not sure how - as a group - they could be over priced or under priced. Individually someone may offer to sell a coin at more or less than the going rate, and that coin then could be considered over priced or under priced with respect to the market. But these are fungible items. So I guess I think the question makes no sense. JMHO.

 

If it's not labeled, then how do you know it's a Philadelphia minted coin?

 

I wouldn't pay the premium for one but if next year they slab a 2021 with a good riddance 2020 label I'd probably buy one.