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Proof silver Eagles set for Nov. 19

There will be proof silver American Eagles in 2010.

After last year’s unfortunate lapse in production, the U.S. Mint will bring the coin back, with sales opening Nov. 19.

Price will $45.95, up significantly because of the rapidly rising price of bullion.

Order limitation will be 100 per household, a strong indication that the Mint feels it will be able to meet demand from all comers. Though when asked if he could provide a number for what the maximum production might be, Deputy Director of the U.S. Mint Andrew Brunhart, replied Oct. 4, “I can’t do that. It’s all dependent upon the current situation of being off allocation for a while longer.

Allocation refers to the Mint’s system of rationing the supply of the bullion American Eagle silver coins. Rationing ceased with a Sept. 3 notice to authorized purchasers, freeing up planchets for proof production.

Deliveries of the 2010 proof silver Eagles will begin Dec. 1.

Though the planchet shortage is easing, three products will not be produced this year,  Brunhart said, because supplies are still not ample. These products are the one-ounce uncirculated “W” mintmark silver Eagle, the one-ounce uncirculated “W” mintmarked gold American Eagle and the annual uncirculated dollar coin set. While some collectors will be disappointed with this, most will feel that the Mint made the right choice in focusing on producing the proof coins.

Congratulations to the U.S. Mint for bringing back the proof silver American Eagle coin in time for it to have a 2010 date..

Now wait 10 seconds before the complaints begin about the new higher price.

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4 Responses to Proof silver Eagles set for Nov. 19

  1. Brad says:

    That issue price may well keep the speculators at bay! Who would want to spend $4,600 for 100 proof Silver American Eagles, when you can spend about $200 more and get 200 Silver Canadian Timber Wolves? No, the proof Eagles are not a good value for the money.

  2. Stuart says:

    Woah! Okay, I’ll complain about that price! Yikes! >2x bullion value (based on today’s price).

    Granted, I’ll probably get 2 … for two reasons. First, I want to get one for my set. I mean, it’s a set, so it’s "supposed" to have one from each year. Second, I’ll be getting one as speculation. The last time AE products were released at the end of the year, it was the 20th anniversary set and, well, if you read this blog you probably know what happened to the prices on that set. Most coin collectors are men, married, and middle to older age, and they have spent most of their coin budget for the year before November rolls around. I’m kicking myself for not getting an extra 20th anniversary set and I’m willing to plunk down an extra $50 on the chance it won’t pay off in case it does.

  3. Mark says:

    If silver has more days like today between now and then, the Mint will end up raising the price even higher.

  4. Robert Sledz says:

    I am still curious what the total USmint’s Silver A.E. Proof count will be as produced.. While purchases may be about a million or more.. I am wondering how many the tally will be by years end? 😉

    RJ

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