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Proof silver American Eagles might fly again in 2010

Will there be proof gold and silver American Eagles this year after last year’s gap in production?

There could be.

Mint Director Ed Moy told the House of Representatives Financial Services Committee’s Subcommittee on Domestic Monetary Policy and Technology yesterday that he supported legislation to allow the Mint to divert silver coin blanks from bullion coin production to proof coin production.

If he gets the green light by Sept. 1, he says the Mint can produce about 200,000 proof coins a month, or total of 830,000 coins by the end of the calendar year.

Will it happen?

There was no opposition expressed. That’s a good sign.

A better sign is that proof gold American Eagles were not mentioned. That likely means they are a lock for 2010. I have noted from time to time that the Mint has kept up with sales of the bullion gold American Eagle coins.

However, Congress still has a great deal on its plate and members want to go home as soon as possible for summer recess to campaign for re-election in the November election.

Good news this is.

We will see if Congress acts and it becomes great news.