Thursday, May 29, 2008

Update on 2008-W Silver Eagle Reverse of 2007

Posted by Mint News Blog | Filed Under: Silver Eagles


The last time I wrote about the 2008-W Silver Eagle Reverse of 2007 Variety was nearly a month ago. At that time, the variety had only been confirmed for less than two weeks, but was already causing quite a stir.

As a brief recap, some of the 2008-W Burnished Silver Eagles available directly from the US Mint were struck using the reverse die type of 2007. The “Reverse of 2007″ is most easily distinguished by the appearance of the “U” of “United States.” The Reverse of 2007 will have a bowl shaped “U” while the Reverse of 2008 will have a spur on the right side of the letter.

Around the end of April, the US Mint provided an estimate of 47,000 as the total potential number of 2008-W Silver Eagles with the Reverse of 2007.

Prices from online dealers and eBay auctions were extremely volatile around this time. Many believed that prices were unsupportably high, although a case could also have been made for the opposite conclusion. For this previous analysis check out the post: 2008-W Silver Eagle Reverse of 2007 Mintage Estimate.

Since this time prices have increased. Based on a sampling of eBay auctions ended in the last 24 hours, current prices now seem to be around the following levels:

  • Raw: approx. $540
  • NGC MS 69: approx. $610
  • NGC MS 70: approx. $950
  • PCGS MS69 First Strike: approx. $750
  • PCGS MS70 First Strike: over $3,000

The supply of 2008-W ASE Reverse of 2007 available on eBay seems to be relatively steady. At any given time there seem to be between 200 and 300 available for auction. Here’s a look at the current eBay listings.

Can these price levels be sustained or even go higher? There seems to be a constant supply of the coins reaching the market, but at the same time a constant and growing demand. The American Silver Eagle is a highly popular and widely collected series. The variety has added an exciting new aspect to the 22 year old series.

At these prices, personally I wouldn’t be a buyer, but then again I probably wouldn’t have bought the 1995-W Proof Silver Eagle back in the days when it was going for $1,000.


Update: As requested, here are some figures on the total number of “Reverse of 2007″ coins graded by the major third party grading services:

NGC’s Online Census shows a total of 10,737 graded with Reverse of 2007. Of that amount, 5,067 received an MS 70 grade. (as of May 27)

PCGS’s Online Population Report does not show any numbers yet, but a recent Coin World article stated 1,171 with Reverse of 2007 with only 121 in MS70. (as of May 14)

The CW article also included ANACS grading 1,986 with Reverse of 2007 with 789 in MS70. (as of May 14)

Total graded from all 3 services based on most recent data… 13,894

 

Related:
2008-W Silver Eagle Reverse of 2007 Discovered
2008-W Silver Eagle Reverse of 2007 Mintage
2008-W Burnished Silver Eagles Reverse of 2007

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Wednesday, May 28, 2008

2008 Arizona State Quarter Rolls and Bags

Posted by Mint News Blog | Filed Under: Bags and Rolls, State Quarters


2008 Arizona State Quarter Bags and Rolls will go on sale at the Mint on June 2, 2008 at 12:00 Noon ET.

Arizona is the third State Quarter released in 2008 and the 48th coin in the overall program.

Product options will include a Two-Roll Set, 100-Coin Bags, and 1,000-Coin Bags.

The Two-Roll Set includes one roll from the Philadelphia Mint and one roll from the Denver Mint. The rolls are in special US Mint wraps. Each set is priced at $32.95.

The 100-Coin Bags and 1,000 Coin Bags will be available for either Philadelphia or Denver Mint Coins. The 100-Coin Bags are priced at $32.95 and the 1,000-Coin Bags are priced at $309.95.

The Mint’s product pages are now online, but sales options will not open until the official start date of sales.

Two Roll Set
100-Coin Bag Philadelphia
1,000-Coin Bag Philadelphia
100-Coin Bag Denver
1,000-Coin Bag Denver

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Friday, May 23, 2008

Louisa Adams First Spouse Gold Pricing and Ordering

Posted by Mint News Blog | Filed Under: First Spouse Gold Coins


The US Mint has just released pricing and ordering information for the upcoming Louisa Adams First Spouse Coins.

As a brief recap, the Louisa Adams coin is the sixth coin in the First Spouse Gold series, and the second release for 2008. The coins contain one-half ounce of 24 karat gold and are available in proof and uncirculated versions. As previously posted, the coins will go on sale on May 29, 2008 at 12:00 Noon ET.

The newly released information includes pricing for the coins and ordering limits. The proof version of the coin is priced at $619.95 and the uncirculated version of the coin is priced at $599.95.

The Mint is placing an ordering limit of one coin per household for at least the first week of release. Total production of the coin will be limited to 40,000, with the amount divided between proof and uncirculated coins based on demand.

The US Mint’s product pages are available here and here, although ordering will not be available until the specified release date.

The price levels match those of the previous coin in the series honoring Elizabeth Monroe. However, the final coin from 2007 honoring Dolley Madison is still available at the Mint at the lower issue prices of $529.95 and $509.95.

Related:
2007 & 2008 First Spouse Gold Mintage Figures
First Spouse Gold Coins

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Thursday, May 22, 2008

John Quincy Adams Individual Proof Coin

Posted by Mint News Blog | Filed Under: Presidential Dollars


The John Qunicy Adams Individual Proof Coin will go on sale at the US Mint on May 29, 2008 at 12:00 Noon ET. This continues the individual proof coin offering for the Presidential Dollar series.

The coins are offered at $5.95 each. There is an ordering limit of five coins per household for the first 30 days of sales. The Mint’s product page is available here.

The John Qunicy Adams Proof Coin has already been available from the Mint as part of a different offering. The 2008 Presidential Dollar Coin Proof Set contains proof versions of all four 2008 Presidential Dollars. The set is currently available for sale at $14.95 per set.

Perhaps more notably, the Louisa Adams First Spouse Gold Coins will also go on sale May 29, 2008. The Mint has still not released details on the pricing and ordering limits for the coins. The last two coins of the First Spouse Gold series have been priced s at different levels due to the fluctuating price of gold, so it will be interesting to see the price for the next coin of the series.

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Tuesday, May 20, 2008

Platinum Eagles Sold Out and Suspended

Posted by Mint News Blog | Filed Under: Platinum Eagles


Over the past few weeks, platinum has staged an impressive come back. Since the beginning of the month, the price of platinum has risen from a low of $1,850 per ounce to today’s price of $2,142. The recent rise has caused suspensions and sell outs for some of the US Mint’s platinum products.

On Friday, the US Mint suspended sales of the 2008 Platinum Eagle 4 Coin Proof Set. This set contains 1.85 ounces of platinum and was priced at $4,119.95. The sets just went on sale May 5, 2008, so the suspension comes after only two weeks. The individual proof options remain available for sale.

The remaining ordering options for the 2007-W Burnished Platinum Eagles are no longer available for sale. The one ounce and one-tenth ounce individual coins went back on sale at the Mint in early May, following a long suspension. These now appear to be sold out, since the product pages state “Product Not Available” rather than the precious metals related suspension message.

Will 2008 be a repeat of last years perpetual suspensions and repricings? Global supply and demand indicators still seem to be aligned in that direction. As mentioned in Coin Update, Johnson Matthey recently released their 2008 Platinum Report. According to the report, demand exceeded supply by 480,000 ounces for 2007. In their outlook they predicted a continued deficit for 2008. The full report can be found here.

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