From the Oct. 27 Numismatic News E-Newsletter:
Are two proof silver American Eagles in 2018, W and S, too many?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
The market for proof silver Eagles is currently saturated. In the last six months, wholesale values have dropped considerably for past years’ issues. With slack demand, issuing two different 2018 proof silver Eagles will be a bonanza for collectors with the foresight to buy them.
If I buy any, they will immediately drop in value after I receive them in the mail. So, I will probably buy mine on the secondary market after they appreciate in value.
Bruce R. Frohman
I don’t think two is too many. Modestly, if anyone wishes a few of each, no problem. After 6 to 12 months, sell one of each if profit can be made. If so, great. After all, what is wrong with growth in this way?
Not for me. Although I would rather be able to buy the coins individually than having to purchase a set I don’t want. You didn’t ask about the uncirculated Eagles, but I feel the same way about them. If they are minted in San Francisco put an “S” on them. I think you’d see a big increase in sales.
St. Louis, Mo.
Why not? The expected “W” minted proof Eagle is always looked forward to by collectors. We can remember the missing 2009 proof Eagle and we are happy to see the 2017-W proof. The 2017-S was a nice addition for this year. The Mint gave us two options to obtain this coin. I looked forward to the pre-sale release information. The buildup to the release dates keep many people interested. I wonder if the Mint has anything else up their sleeves for 2018 ? Enjoy the hobby!
I think so. If the offering price would be lower, then maybe not. But at the traditional proof offering price, I think not.
It all depends on the mintage numbers and the cost.
The Mint’s sales and marketing strategies now border on abuse of its relationship with numismatists. How is the Mint going to manage the sale of 2018 “W” and “S” mintmarked silver Eagles? A product sellout within two minutes of its offering for sale? Another gimmick to arrest flagging sales of its premier product line?
Yes. I don’t see the point of minting both. There is nothing that makes one unique over the other.
Yes, I think this is overkill. I do not think there is much if any numismatic value in mint of origin for ASEs struck in the same year with the same surface. If they decided to alter the surface between the two mints, say reverse proof from West Point and deep cameo from San Francisco, then maybe the coins would offer a significant amount of numismatic value to make it worthwhile. Otherwise, if they want to produce a proof from San Francisco Mint, then skip making one from West Point Mint.
Yes, two are too many! In fact, for the price they charge, two is too many, period! I’m tired of paying the Mint’s overcharging of coins, but I have to buy to fill collections. Maybe I’ll quit collecting modern-day coins. I’ve been collecting since the 1960s, and the price gouging has gotten terrible in the last several years. In 2017: $45 for silver Eagle at the Mint, $21.50 at a coin show. Where would you buy your coins?
Frankly, I don’t think whether two or three or five proof silver AE are too many, but it’s time to change the AE design. I’m not talking about going back to nostalgic coins, like the anniversary of the 1916 gold coins designs, but something new. The United States has been about for 400 years, give or take, since the landing at Plymouth Rock, so why not look at a new design or designs? I think we will always keep the American Bald Eagle as a symbol, but what about looking at a series for each year starting in 2020 of those monumental themes that made America unique.
For example, the industrial revolution, the railroad, space exploration, the Interstate, first flight, the splitting of the atom, development of the automobile. How about the Verrazano Bridge built on the curve of the Earth, the first computers, cell phone, robotics, UAVs, etc.
Coming up with a new, maybe four coins a year or so, unique events for X number of years. Just think: a new coin made of silver, affordable, and at the same time, limited only in the year produced and then no more. I’m sure the Mint could and would make a mint, no pun intended. Think of the new collectors it would bring in from today’s generation. Maybe even let the public vote on some of the suggestions and even the most popular coin being made in a $5 dollar gold piece for that year! What a concept.
I’ve been a coin collector since Grandfather Krase turned me on to collecting back in 1969. Who knows, maybe the Mint will read this and give it some serious consideration. We will see.
Again, the Mint is overburdening collectors with overpriced coins that many can’t afford. This will not improve the process of increasing young collectors.
Two proof silver eagles are OK with me. Let’s have a “P” also.
This article was originally printed in Numismatic News Express. >> Subscribe today
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