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Get ready to pay for that ‘W’

Does putting a “W” mintmark on a one-ounce silver American Eagle coin make it worth twice the price?

It does when it is formally called the American Eagle 2017 One Ounce Silver Uncirculated Coin by the U.S. Mint.

When the 2017 piece becomes available to coin collectors on the Mint’s website’s June 29, issue price will be double what the bullion coin version trades for.

Issue price has not yet been set, but the 2016 coin is being sold for $44.95 each.

Last year’s coin had no mintage ceiling attached to it. Buyers have taken nearly 200,000 of them.

See Mint Statistics here for the current number.

This particular “W” mintmarked product was created in 2006 after 20 years of collector complaints that they could not buy an uncirculated silver Eagle directly from the Mint.

Collectors cannot make that complaint anymore. But the Mint makes them pay for the privilege.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 

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3 Responses to Get ready to pay for that ‘W’

  1. Old Biker says:

    The price gouging by the mints are getting ridiculous. Why is it that its cheaper for me to buy coins from big dealers than the mints? This is why the younger generation is staying away from coin collecting.

    • MCoin says:

      For the same reason it is cheaper for you to buy a t-shirt from Wal-Mart…Economies of scale or in other words if you buy in bulk you pay less as compared to buying one or two units…It’s basic economics. Their price increase is proportionally related to the level of effort required per unit. Are they making money? I sure hope so this is the USA and capitalism is not dead yet…Why is it that when it comes to the government people expect a handout (note: this question is rhetorical)?

  2. jgorak says:

    I would be buying it to update my complete set. Hey, US Mint why not hire NGC and PCGS to have a grading staff set up to remove the coins as the come off the press, grade them, put them in a special color slab with a unique label, and double the price. I’m only kidding of course but collectors buying these types of coins with special labels and slab colors are just as ridiculous as my comments.

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