Difference between collectable Silver Eagles and bullion Silver Eagles?

I see that the U.S. Mint isn't selling collector versions of the 2009 Silver Eagle yet, yet you can buy bullion 2009 Silver Eagles from dealers. Other than the proof version and the packaging, what is the difference between the two? The look the same and I think they have the same silver content. Anything else?

 

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While all silver eagles are minted at West POint. The collectible ones have a W mint mark that regular bullion coins don't have. They are also on so called "burnished" planchets but they look very similar to the bullion planchets. The only thing that really sets then apart is the mint mark.

The bullion coin will be minted in the millions..I think 9 million so far for 2009 and the W version will be under 500,000 maybe even lower this year "if" they make one.

 

What Andrew said. Plus, the process called burnishing is applied to the "W" eagles and is not applied to the "bullion" eagles. This process is described here on this site, just do a search for it. This burnishing process is what is applied to all the coins in the US Mint sets and not to business strike coins.

Also important to note the terminology that the mint uses to describe each one. When the mint talks about the bullion version, the are discussing the ASE without the W and when they talk about the unc version, they are talking about the W version. Keep in mind the obvious, both are uncirculated and the differences may need to be distinguished between the two when talking with someone who is not knowledgeable. Many times you will see someone talk about the bullion version, when they really mean to be talking about the Unc "W" version and visa versa.

 

Great explanations. Thanks both!

So, "burnishing"... is that the same thing as when you see coins tagged as having a "satin finish". It never made sense to me to pop them out of mint sets and sell them individually like that. Obviously, it'll be a higher grade than a business strike. So, what's the big deal? In fact, it seems the slabbed business strike coins out there go for a lot more than the higher grade "satin finish" ones. At times, I think some dealers are trying to sell the "satin finish" ones at unfair premiums... selling them as if they were normal coins with outrageous high grades.

 

That's the scam. As the dies wear slightly the satin finish fades and the coins begin to look like regular business strikes. So you search the mintsets for the well struck clean coins that do not show the satin finish and submit them to try and get them graded as the very rare top grade business strikes.

I've never understood the who-hah over the burnished pieces. ALL of the planchets are burnished after they are annealed so when they say the W mintmarked SAE is struck on a burnished planchet it doesn't really say anything because the bullion coins are struck on burnished planchets as well.

 

i think the w mint mark burnished were more carefully packaged. while the bullion one might run thought faster means. and might have some minor scratch or other damaged. but overall. the bullion coins were also very beautiful to collect them. and it is cheaper to buy it.

 

Thanks for explaining that. I was curious as well.