2012 Proof Silver Eagle Sales Suspended

The United States Mint has suspended sales of the 2012-W Proof American Silver Eagle. A message on the product page indicates “This product is temporarily unavailable for product repricing.”

The one ounce silver coins originally went on sale April 12, 2012 priced at $59.95 each. This price was established through publication in the Federal Register dated March 12, when the market price of silver was $31.47. With the price of silver recently dipping nearly $5 below that level, it seems that the US Mint has suspended sales in order to reduce the price of the offering.

In order for new prices to become effective, they must be published within the Federal Register, a process which can take a few days or a few weeks. Once the process is complete, sales will resume with the new prices in effect. In some instances when the market price of silver has reversed course during a suspension, sales have resumed with no price change.

No other silver numismatic products are suspended at this time.

As explored in this post, the prices for the America the Beautiful Five Ounce Uncirculated Coins were last adjusted when the market price of silver was around $29 per ounce. In recent history, the prices for annual sets with silver content have been increased based on higher silver prices but not decreased. Commemorative silver dollars typically have not had their prices adjusted midstream, except for the known pre-issue discount.

The repricing for the 2012 Proof Silver Eagle closely follows the conclusion of sales for the 2012 San Francisco Silver Eagle Set, which some collectors felt was priced too high at $149.95 for one proof and one reverse proof coin bearing the “S” mint mark. During the course of the four week ordering window, London PM Fix silver prices ranged from a high of $29.28 to a low of $26.81.

The US Mint recently published the price of the 2012-W Uncirculated Silver Eagle scheduled for release on August 2, 2012. The price is indicated at $45.95, the same price level as the prior year coin which still remains on sale.


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Comments

  1. Jeremy says

    You don’t think this will have an impact of the San Fran sets on the secondary market? hmm . . .

  2. Kelly says

    Off topic

    Just received another mint survey and they asked questions about a 10% restocking fee on returns. Wonder how much junk there are getting back to institue this? Maybe they should look into a better quality control system!

  3. Wes says

    9/11 Medals are a dud. Why did they offer them for 10.00 less to customers who ordered them before their release, and refuse to offer that same price to customers now? The were authorized to make one million and have only sold approximately 135000 total from both mints. They still have until December but they seem to have really over estimated demand. Maybe instead of Lady liberty they should have put a fireman on the coin.

  4. Mint News Blog says

    Interesting you said that because they did have a firefighters medal: http://news.coinupdate.com/benjamin-franklin-firefighters-silver-medal-1300/

    Part of the reason for the poor sales has to be the fact that these are medals rather than coins. The original legislative proposal called for silver dollars, but this was switched to silver medals after two commemorative coin programs were already approved for the year, which is the maximum under current law.

  5. Auxmike says

    I have the 911 medal and bought it first day @$55. It’s real nice, and as a NYer that event hit home as I know people who were there. The low mintages may make this a real winner in the long run as this tragic even won’t ever be forgotten, just like the Holocaust….

  6. Louis says

    Unless silver drops to $25 or less for a sustained period, I doubt the Mint will lower the AtB prices. Silver is very volatile and can go up or down a dollar or more in one day, and I think the coins are priced correctly for current silver prices. Most dealers charge about $165 for the bullion coins, which do not have the same production costs, and the Mint needs all the revenue it can get these days. Even if they were lowered, I doubt it would be by much again unless silver really tanks. If you want these coins, I would buy them now if you can.

  7. Zaz says

    I agree with you, CO, hope the ATB pucks follow suit next for a pricing adjustment. It would spur the fence sitters to buy and generate additional sales. Even with a minor $10-$15 discount.

  8. Wes says

    Mint News blog I agree that it being a medal instead of a Silver dollar may be hurting sales but being a medal it contains more silver than a Silver Dollar commemorative that and the 10.00 going to the museum could be why they won’t lower the price.

    Auxmike, I am not a New Yorker but I do love New York.. The Holocaust would be forgotten if people let it be. People have to make sure that future generations are not allowed to forget. .

  9. Louis says

    The folks who work at two Mint sales counters I went to today said the hockey pucks are selling well.

  10. joe says

    Interesting comment regarding the 10% restocking fee. I have returned a lot of items to the Mint, but only once because I changed my mind. In every other case, I returned the items due to poor quality. If what Louis says above is correct regarding the Mint needing all the revenue it can get these days, charging a 10% restocking fee for their poor quality coins that are returned is going to absolutely kill their sales. They already charge a premium for “collectible quality” coins, yet I seem to get a lot of poor quality coins from them (in collectible boxes).

    In fact, what I’ve received personally is so bad that I’ve started ordering two of every coin I purchase and accepting the fact that I have to pay a small shipping fee return the one (or more) that were junk. To that point, I just received two AtB 5oz Chacos from the Mint that I’m going to open tonight…one is going back. What makes matter worse is that I did the same with the Puerto Rico 5oz coins and BOTH were scratched up or flawed.

    If there is a 10% restocking fee, I will likely just start ordering graded coins from legitimate dealers and bypass the Mint altogether.

  11. EricTheRed says

    Does anyone know who has the Chaco Canyon ATB 5oz bullion coins for sale? I bought the first year 2010 series collectors ATB 5oz but in 2011 I purchased only the bullion version which I liked much better. Does anyone like the bullion finish better than the collector uncirculated version? Also is it not a better value? I probably threw away my money buying the collectors ATB 5oz versions wondering now if they will ever have any value more value than melt value.

  12. VABEACHBUM says

    The Mint and I continue to fight the Quality Assurance – Quality Control battle with every new product that is released. This critical manufacturing process control has been my single largest complaint for the past 7 years. And, like Joe, I swear there are times when I have become the Product Reject Magnet. At one time, I was returning one of every three products received. High dollar items, too, including a 2009 PR Gold Buffalo that had pot-marked devices on the OBV and REV. I never went to the extreme of ordering two of each in anticipation of returning one, but easily could have justified it. If the Mint wants to implement a 10% restocking fee, then they certainly better ensure that their numismatic collectibles are Defect Free!!

    I picked up one each of the 9-11 Medals on the first day of issue. I think the medals are wonderful, but I’m not surprised by the dismal sales. Goes back to the second biggest problem of the Mint: the severe lack of sales and marketing to anyone and everyone outside of the Mint’s current customer base.

    As an example, this medal has been available for 18 months now, and with the exception of a brief, 9-11 10th Anniversary Nat’l News segment that discussed the Ground Zero Memorial Center, this medal and the fund raising shortfalls, this product has not received any national level marketing support.

    If nothing else and given the daily traffic at Ground Zero, I would hope the Mint has made quantities of these medals available to the Memorial Center for local consignment sales. Being there, seeing those reflection pools in person and portrayed on Commemorative Medals; potenially immediately available to visitors at a reasonable cost that also includes a donation to the Center. Come on, I don’t do marketing for a living, but I have to believe these medals would fly off the shelves.

  13. Louis says

    I agree the restocking fee is a bad idea and that QC has been an issue in recent years. But either you guys and gals are really unlucky, or I have been rather lucky, since most of my orders have been fine. Same with APMEX. I have returned I think two coins to APMEX over many years, and only one was for quality issues.

  14. says

    Samuel, I’ve been having bad luck buying anything ungraded from APMEX for years. In my experience, you’re best sticking to ungraded or else buying plain “bullion” from them. Usually anything ungraded I’ve bought from them has some kind of problem, from minor (cracked and dirty capsules) to severely damaged coins (I bought an AtB Chickasaw coin from them that had two deep gouges that almost looked like they’d been cut with a knife and a host of minor scratches).

    I really dislike playing the “returns” game which is why I’ve stopped buying most ungraded coins from third party dealers except when I have to; usually I just go straight to the national mints now whenever possible. In spite of the annoying QC problems the US Mint has had in several years, it’s still pretty minor compared to what I’ve experienced with some third party dealers.

  15. Kelly says

    If the mint is reading, I wouldnt mind the restocking fee for items returned without a replacement coin being requested. This might be a way they could address the issue of people over ordering and returning what they did not want. I expect that when I order a coin or coins from the mint that they should be visibly free from defects to the naked eye. With the premiums being charged I do not think it is too much to ask. I dont want to make it sound like everything they send out has a problem because I have received many great coins from them , but lately it just seems to be more of a problem especially with their gold uncirculated products and the 5 oz ATB’s I have received

  16. Wylson says

    “talking about QC, apmex is really bad these days.”

    Samual, I disagree. Their QC is great when there cherry picking coins to send to the graders. 🙂

  17. joe says

    Kelley is spot on with is comment above. Up until a couple years ago, I would never order more than I wanted of a particular coin. If I was ordering bullion (or circulated coins), then I would expect there to be blemishes of one sort or another. It’s the exorbitant premiums being charged for blemished coins that really bothers me. Only a monopoly (or the government) would consider charging a 10% restocking fee when their QC was in the tank. Any other company would go out of business. When I have a collectible coin that I want, I either order extra and return the unwanted coins (as I mentioned above) or I pay an even higher premium to order a graded version from a dealer. I shouldn’t have to do either, but I refuse to be satisfied with the expensive blemished coins (which include a high amount of premium) that I am sent when I am paying so much money.

    The other factor is shipping charges. By ordering an extra coin, I understand that I will be paying to return that additional coin. The cost to return the coin is typically around $6 via priority USPS with shipping confirmation. I view this $6 as a quality premium that I have to pay to get what the Mint should have sent me in the first place. What really ticked me off was paying this fee twice (or more) when I received consecutive blemished coins. My point is that the Mint has brought their restocking fee issue upon themselves, yet they want to pass those charges back onto the customer. Again, it becomes much cheaper to just purchase graded coins with OGP from the dealers (and crack them out if needs be).

    As for the two 5oz Chaco coins I opened last night with the intent of returning one, the first coin appeared to be fine (the keeper) and the second coin looked like it had a small tea stain (hopefully not really tea 😉 ) in the middle of the reverse field. My guess is that the Mint will continue to send the “stained” coin back out to customers with the hope that someone will just hold onto it. If not, their alternative plan is to make their money back with a “10% restocking fee.” Either way, the consumer loses…

  18. Jus-a-coin-luvr says

    On 9-11, I hope that people find a way to never forget that day and that coin should have been a sell-out already IMO. I bought both the 9-11 Medals the day they were available to us. I have several 9-11 commemorative items and still have that photo of our aircraft carrier with “Payback is a Bitch” on my wall in my office. I know that others may not feel that way and we went through a lot as a country to bring that “payback”. But a reckoning did come to those that designed that terrible attack and it was “a bitch”. Just wanted to say to all our New York friends, there are still people out here that will “Always Remember” the sacrifice and heroism of Americans (military and civilian).

  19. stephen m. says

    Joe, $6 fee for mailing? That only stimulates the shipping economy. A 10% restocking fee charged to the customer by the mint will equal to a job for someone. Sad days indeed for the collector. Gas, groceries and now a job for someone? My buying power for coins is shrinking. Plus i will get bit again on the proof silver eagle if the price is lowered since I have a subscription. I would have to check but if i recall last year was the same scenerio for the proof silver eagle. Maybe the Mint wants us to deal with the TPG”s and is the mint pushing us that way?

  20. Jus-a-coin-luvr says

    “Always Remember” or “Never Forget”, I don’t see a significant difference in the terms base meanings. For me, the coin did not have to “wow” me as a collectable. It was the thought of it and that part of the proceeds went to the 9-11 Memorial that motivated my purchase.

  21. Jus-a-coin-luvr says

    Before the “can is opened” (whatever that means), please understand that I mean no offense to anyone. I’m just an American who still has very strong feelings about 9-11. Please don’t take that as my wanting to debate anyone about it, the 9-11 Medal, etc. No worries, because I won’t engage in a battle over the topic, our fight is not among ourselves.

  22. joe says

    I also purchased as set of 9-11 commemoratives. I thought the design was fine, although I do like the idea of a fireman on the obverse.

    Maybe it’s a gimmick, but I purchased a couple of the PCGS-graded 2001 ASE coins that were “in the building” when it collapsed. The thought being that I would give them to my kids when they are old enough to appreciate them. To me, those (assuming they are legit, which I do based on PCGS’s reputation) are truly a part of history and will help my kids to remember as much or more than anything else I can think of. Hopefully not too morbid, but the ability to hold history in your hands makes it more “real” in a sense.

  23. Jus-a-coin-luvr says

    One other thought on the 9-11 type coins, there are some Silver Rounds available for just a little over Spot at Apmex. These Rounds capture a bit more of what happened and do include things like Police, Fire & Rescue teams, the Pentagon and Twin Towers remembrance. I agree with you Joe about leaving something behind to help our children and grandchildren remember.

  24. Shutter says

    Getting back to inexplicable Mint decisions, has anyone else noticed the story about the Mint putting the breaks on development of the upgraded ordering system? Supposedly, they decided that the ordering process for 75th Anniversary set was a huge success. They decided to do what any enterprise does when experiencing a success, apparently. They hired consultants to do a study.

    Speaking of QC issues, I have not personally experienced the kinds of problems with coins that others describe. I suppose, some of that can be put down to extra sensitivity to normal minute flaws that all coins can have. However, I have experienced issues that while minor and easily correctable, can not be deemed normal at all. Example include missing CoA, missing sleeve for ATB coins, and the latest missing replica dog tag from 1 of 2 DoF sets. I can understand a dog tag that got ripped off, I can understand no dog tag at all, but how do you ship 2 sets where one has the tag and one doesn’t without noticing that there may be an issue? Fortunately most of my problems are easily correctable without a return. Funny thing, when they ship a low value replacement item like a dog tag or CoA, they still use UPS signature required.

  25. Don says

    As nice as the 9-11 medal seems to be, as illustrated on the Mint website, it is just that–a medal. Although the metal has precious metal value, it does not have numismatic value. It’s too bad that the mint did not issue this as a commemorative coin for the added numismatic value. I’m sure the mintage would have been much higher.
    The majority of coin collectors are, in all likelihood, not interested in medals.

  26. William says

    Perhaps, the mint should grade all gold and silver collector coins…

    I often wonder what the mint does with returned coins, one woman I talked with at the mint said she agreed with my suggestion of a no re-issue idea.

    It is my opinion all returned coins should be destroyed.

    Just scratching the surface.

  27. joe says

    The Mint doesn’t have a published policy regarding what they do with returned coins. That said, one can only wonder and often assume that they just ship it out to someone else. Maybe it has to do with our government controlling the Mint and the level of service many of us get at their other institutions, say, the USPS.

    A couple months ago, I paid almost $6 to mail a letter in a USPS Priority envelop to a city just a couple states away. I even had to spend the gas money to drive to the post office to mail the envelop, not to mention my time. Ten days later the item finally arrives at its destination. When I was in contact with the company to whom I sent the envelop, they said that they had noticed a significant slowdown in mail coming from the USPS (they have to deal with a lot of time-sensitive mail). The USPS makes no guarantees regarding the speed of their Priority Mail service; however, they do bend over backwards to imply it is much faster than their 1st class service. So in short, I basically paid more for extra slow service.

    The point is that government-run civil institutions have a reputation (in my case, deserved) for bad service and quality. It’s like they have the “Hey, we’re the only show in town, so tough luck Mr. Customer.” For me, it’s not a giant leap to believe they just reship blemished coins because they seem to have no pride in what they do.

  28. TomP says

    The upcoming ‘Making American History Coin and Currency Set’ (Aug. 7) contains an ASE proof silver dollar. The description includes mention the coin is to also honor the S. F. Mint.

    Does this ASE proof have the ‘S’ mint mark? I thought the ASE S proof was to be unique to the 75th Ann. set.

  29. says

    Getting back to inexplicable Mint decisions, has anyone else noticed the story about the Mint putting the breaks on development of the upgraded ordering system? Supposedly, they decided that the ordering process for 75th Anniversary set was a huge success. They decided to do what any enterprise does when experiencing a success, apparently. They hired consultants to do a study.

    Please tell me you’re joking!

    Do you have a link the story? I had not heard this. I know the Mint’s trying to save money and all but this has been an issue since 2006! Why would they just kill the process when it’s likely nearing completion (assuming early 2013 was supposed to be accurate)?!

  30. Shutter says

    Do you have a link the story?
    Dude, you need to start reading Michael’s Coin Update news roundup. Learn all kinds of useful things there. Anyway, here is the link to original article:

    http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=25428

    I know the Mint’s trying to save money
    I know that companies always claim that they are going to save money by hiring consultants to do a study, but the results typically don’t work out that way. Invariably consultants come back with the conclusion that you need to give them more money.

  31. Jim B says

    I like that the sales have been suspended on the proof SE. I am just wondering why its only with this one silver item? It seem to me if its due to a market price issue why is it not across the board with all .999 silver items?
    I like the 911 medal and bought 1 from each mint. I do know of a online dealer that has them for $59.59, He must be having a issue moving them as well.
    Apmex… forget about it. To me they are way over priced , there general quality is poor and shipping cost is over the top. I do much better dealing with local coin dealers. I have 2 in my area that are fair. For me I like to look at my coins before I buy anything not graded. And then all graded coins are not equal. I don’
    t like to pay to look at coins buy paying return shipping cost. But have allso returned some US mint stuff that i was not happy with. Happy coin hunting to all.

  32. Brad says

    Off-topic, but of interest to many here. There’s a new product on the schedule, the “Making American History Coin & Currency Set”, due to be released on August 7. Apparently, it contains a Silver Eagle Proof coin from San Francisco and a $5 bill with serial number beginning in “150” and the San Francisco Federal Reserve Bank designation.

    It didn’t come right out and say that the Silver Eagle Proof coin has an “S” Mint mark, but doesn’t logic dictate that it would? Have our two-coin sets just had one of the coins in it robbed of it’s “exclusive” status? The page is below:

    http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16762&langId=-1&parent_category_rn=10111

  33. Brad says

    I see Tom P already mentioned this, sorry. I didn’t read all of the comments above before posting.

  34. Nate says

    Well, I raised the question earlier of whether the ‘S’ proof was going to be unique to the SF set. I don’t remember ever reading that was guaranteed. Looks like we may have our answer here. I wouldn’t be surprised to see it included here or sold separately later.

  35. Samuel says

    i bought quite some coins from apmex recently, raw, graded 69/70, expensive world coins…and have so many quality issues. right now i am nervous when open their boxes. u can always return, but, they just give u another “returned” coin, until u worry about your return shipping. i m forcing myself to not to look at their website. for those world coins, i m not sure they got the left over from cherrypicking from their own providers or not. even though they have 20 in stock u will still get a bad one, i mean unacceptable bad.

  36. says

    Dude, you need to start reading Michael’s Coin Update news roundup. Learn all kinds of useful things there.

    I do, but I occasionally miss the roundups, especially since I started using ClickCoins as my start page to browse coin sites. Can’t believe this one went under my radar. Regardless, thanks for the heads-up.

    Invariably consultants come back with the conclusion that you need to give them more money.

    You are even more cynical than me! 😉

    But in this case you’re probably correct. The hiring of consultants right now makes no sense to me if they’re trying to save money.

    Have our two-coin sets just had one of the coins in it robbed of it’s “exclusive” status?

    If the coin in this set has an “S” mint mark, it will be annoying, but I think that the main draw of the two-coin set is really the reverse proof. That being said this is still likely to hurt the price some if it does “S” mint mark anyway.

  37. Jus-a-coin-luvr says

    My thoughts on the Mint not investing in a more powerful Order system. I look at this from maybe a different perspective. With exception to the fire-drill type of release such as we saw with the 5-coin AE set in 2011, 99% of my orders with them go through without as much as a hiccup.

    So, they may have just found the solution to the 1% problem…don’t release product that will require massive orders in just a few hours time-frame. Instead, spread is out over days and weeks (ala what we just experienced with the AE 2-coin set). I don’t think I can expect them to spend more money solving a problem that can be managed with a better sales/release plan. That may not make me happier as a “collector”, but I can see it from their perspective too.

  38. Jon in CT says

    I find it amusing that the Mint’s description of the upcoming “Making American History Coin & Currency Set” observes that the Treasurer’s signature appears on the included $5 bill but fails to note that Treasury Secretary Timothy F. Geitner’s signature also appears on the bill. Perhaps the folks at the Mint are still PO’s that Timmy killed the $1 coins.

  39. Mint News Blog says

    I am trying to confirm what mint mark is on the 2012 Proof Silver Eagle included in the “Making American History Coin and Currency Set”. Will provide any information as soon as I receive it.

  40. DCDave says

    With the ’11 Buffalo still selling for over a year, maybe the Mint found a few thousand ’08 Buffalo’s in storage and will start selling them also.

  41. Ikaika says

    No release date yet for the FS gold series. Hummmm

    The US mint sure pulled one with the “Making American History Coin and Currency Set (TA8)”. If indeed the ASE have the “S” mark it will be a bummer.

  42. Shutter says

    I am trying to confirm what mint mark…
    I’m sure we all appreciate that. I think that if it’s “S”, there will be an awful lot of unhappy people, and those interested in getting SF Set graded, may have to send the entire box to to TPG (ala 25th anniversary set). OTOH, if it’s “W”, there is a possibility of this set being connected to re-pricing of W Proof. In that case, the repricing may be going up, not down. If the Making American History set consists of a regular W Proof and a fin, it may not move all that well for $73, when you can still pick up the coin alone for $60.

  43. Shutter says

    You are even more cynical than me

    I’m not at all cynical. I’m a wide-eyed optimist who’s encountered reality. My personal experience is that anytime you hire consultants, their conclusion always includes a line that they need more money. Sometimes (actually most of the times) that’s their only conclusion.

  44. Shutter says

    I know that won’t happen now, but the Making American History set would have been a perfect vehicle for uncirculated ASE with S mint mark.

  45. Jeremy says

    Just a thought . . .

    Might it be possible that a number of coins had already been minted for the San Fran set in anticipation of it’s debut, however, the demand didn’t meet their expectations? An alternative offering is now being made available to release the excess inventory?

  46. Wes says

    After reading the description of the Making American History I am thinking it would have the W mint mark. The 5 Dollar note already honors S.F.. It says that construction also started on the Mint at West Point 75 years ago. They could also go with a P Mint mark but not very likely.

  47. Wes says

    I am thinking a P mint mark would be the best since that was the first mint authorized that they are celebrating it’s 220 year anniversary.

  48. Brad says

    Unfortunately, it’s bound to be an “S” proof coin. The text from the Mint’s product page reads:

    “This 2012 American Eagle Silver Proof Coin not only honors the artistry and design of our Nation’s coins, but also honors the heritage of coin production at the United States Mint at San Francisco.”

    How could the coin honor the heritage of coin production at the U.S. Mint at San Francisco unless it was struck there? No, unless this proof bears no Mint mark at all (which I don’t think has ever happened in the entire history of the program for proofs, only bullion coins), it will have to be an “S” Mint mark.

    I like the comment above that mentioned the product being the perfect vehicle for an uncirculated “S” Silver Eagle. That would have been great.

  49. DCDave says

    What stops the Mint from releasing the S reverse proof in another offering?

    With the ’11 Buffalo still selling for over a year, maybe the Mint found a few thousand ’08 Buffalo’s in storage and will start selling them also

  50. Wes says

    Brad, I agree but how would that be honoring the authorization to produce coins for circulation at the Philadelphia mint 220 years ago.

  51. Kelly says

    If they have all these SF proofs laying around ready to ship on 8/07, why the 10/31 delivery on the SF 75th sets???? What are they waiting for, the boxes?? Guess they had this in mind for a while to get the BEP on Board and get that packaging ready for now.

  52. T1 Browserman says

    silver down 30% from last year same time. With all the industrial uses for silver I do not see the price going lower than $25 and if it does then the SF sets should definitely be repriced. Silver reserves exceeds16 trillion ounces http://www.usdebtclock.org/gold-precious-metals.html and I’m sure the U.S. has plenty on hand but at what price did they buy ? Hmmmmmmmmmmm

  53. Brad says

    Wes,

    I don’t know, the whole thing seems pretty screwed up. A “P” Mint mark on the proof Silver Eagle would be great, since that would potentially make it yet another unique 2012 coin.

    I guess time will tell.

  54. Jon in CT says

    Some thoughts on the “Making American History Coin & Currency Set” which will become available at the Mint’s online store at 12 noon, Aug 7. I suspect the Bureau of Engraving and Printing (BEP) will also be selling this set from their online store at http://www.moneyfactory.gov although it is not yet listed there. According to the page at http://www.moneyfactorystore.gov/PressReleaseShowProgram2012_102611.pdf the BEP will be operating a booth at the ANA World’s Fair of Money in Philadelphia August 7-11. According to http://www.worldsfairofmoney.com the Bourse will open to the General Public at 10 AM on Aug 7. The BEP will be selling their products at their booth so it appears that morning visitors might be able to purchase sets there before they become available at the Mint and without any shipping charges. I wonder what the chances are that BEP reserved the lowest serial numbers on the $5 bills for the sets it will be selling at the show?

  55. VA Bob says

    Concerning the 9/11 medal… If you believe the mintage is low, recall the 2003 Silver National Wildlife medals. The mintage was 35K for the first issue and 25K for the other three in the series. They sold out. Today you can buy the complete set of 4 for $239.95 (maybe lower). While that’s not terrible, it doesn’t bode well for the 9/11 medal, with over 130K.

    I agree with Brad. It seems like the Mint might pull a fast one. Not the first time they’ve done it. Back in 1999 they released the State quarters in the five coin proof set, then later included them in the regular proof set, no real before hand knowledge. Same happened with the prez dollars. Before anyone says that I should have expected that, let me know how good your proof and UNC 1999 Susan B’s look in your regular proof/mint sets (they were available separately). Too bad for the Mint the the proof San Fran is a one year deal… maybe?

  56. ClevelandRocks says

    Glad I only got 2 sets of the San Fran. Another “S”‘ will devalue the set for sure. Guess they made too many?

  57. ClevelandRocks says

    Poor suckers that had a proof ASE subscription…look what your loyalty gets you!

  58. says

    While I’m disappointed at the propects of anothe set with the “S” mint mark Silver Eagle, I doubt it will have much, if any effect on the SF 2 coin set.

    This new set will probably have fairly low sales….probably less than 35,000…the SSB set just reached 25,000. So adding the sales of this set (assuming less than 120,000) will still keep it below the 1994-P sales of 372,168).

    However, if this set does have the Silver Eagle with the “S” mint mark, it does create a possible problem for submissoins to NGC & PCGS. I think if the first group of SF sets are shipped in late July, then NGC/PCGS would be able to ascertain that “raw” coins sent to them that were postmarked before 8/7 would indeed be from the SF set.. The SF sets in the next wave…9/28 may require different submission requirement similar to the 25th Anniversary sets…i.e. you would have to send the unopened mint package to NGC/PCGS.

    As said before, time will tell…but WTF is the mint thinking? Oh, I forgot…they don’t!!

  59. Shutter says

    Not the first time they’ve done it.
    More on point, I think. In 2006 Uncirculated Silver Eagle with W mark appeared first in the 20th Anniversary set, and later by itself.

  60. kevin says

    If there is another S ASE, then I believe unopened boxed SF75 sets just got another boost!

    I hope there will not be another proof eagle with the S mint mark, but the Mint has no shame in selling us all a collectible S set, and then diluting the mintage only weeks later and before the S set has even been shipped!!

    They should be ashamed, but it’s obvious they don’t care.

  61. KEITHSTER says

    My thought is it’s the mint way of saying go ahead cancell or return all the sets you don’t want we’ll take care of that. Hope I’m wrong but don’t think so I’m ok with it if they stick to the final number ordered on the 6th and just make the set out of returns and cancellations.But if they wanted to really make American history they would include all the mint marks S D P W mix them up with no choice as to which one you get heck throw in the leftover or returned reverse proofs also we won’t care.Man you’d sell a tonne of them but if it’s just the S I don’t think we’re buying it. But if you want to be Making American History then think about it. Good luck to all.

  62. Rich says

    Has any body checked out the mint web site. I thought the ASE Uncirculated was to be released Aug 2, 2012. But you go to the ASE Uncirculated coin list and you can add the coin to your order and it shows in stock ?

  63. Gary says

    Maybe they can just leave the mintmark off of this proof silver eagle?

    or These could possibly be sent in to TPG’s sealed and get the designation “Making American History”??
    If these sell only 35k…i will be a buyer!! Or maybe the US Mint will actually put a mintage cap on these and put the made to order for 4 weeks crap behind us!

    Or its just another bone for the 25th Anniversary Set??

    We will find out soon!

  64. joe says

    >>My thought is it’s the mint way of saying go ahead cancel or return all the sets you don’t want we’ll take care of that.<<

    And the irony is that the Mint just also happens to be simultaneously talking about a 10% restocking fee. They get you coming and they get you going…

  65. joe says

    While we are speculating, wouldn’t it be interesting if the Mint released all four 2012 FS coins in a single set. They would still meet their legal requirements; however, the mintage would drop through the floor. They’re running out of time to release coins from that series in 2012 (at least all of them). The interesting thing is that these coins will have a 2012 mint mark, so they are required to be manufactured in 2012 (although they can be sold in subsequent years).

    Just a random thought…

  66. Brad says

    Joe,

    I’ve been thinking the same thing regarding the 2012 First Spouses. The production limit might be lowered to 7,000 per design, with 4,000 proofs and 3,000 uncs struck just prior to December 31. They would then be sold during 2013 (or beyond) until all of them sold out. I don’t even think the 2011 Lucy Hayes and Lucretia Garfields will be taken off-sale until they sell out sometime in 2013 or 2014. Leaving prior-year coins for sale alongside current-year coins seems to be the “new norm” for the Mint. It’s a shame that the low-mintage scenario would then be spoiled, since Lucy Hayes should be going off-sale by the first of September. With the numbers that one’s posted so far, it would definitely set a new mintage low for both proofs and uncs. However, it would soon be beaten by the Lucretia Garfields in early December!

    It’s been really frustrating because of the delay in releasing the coins. I would have liked to be able to buy at least the first two 2012 designs while gold spot is lower right now. There’s no guarantee it will still be this low in December. However, maybe we’ll get lucky and gold spot will fall some more, making them cheaper in December. The delay could come back to bite the Mint.

  67. joe says

    Brad,

    Since the Mint gets to control (more or less) their release cycles, it would appear that they can just wait to release products until the PM prices are most advantageous to them (not us). The one interesting fact is that they will not be able to mint more 2012 coins in 2013. Whatever they have on hand is all that could ever be sold, which bodes well for lower mintages.

    The closer they release the high-priced PM offerings to each other, the lower the mintages will be due to the inability of collectors to afford them (dealers are another story). My concern is that the FS coins are already expensive, and pushing their release dates closer together makes it nearly impossible for any average collector to continue with the series. I can just see the Christmas tree this year decorated in all its splendor…and one tiny Mint box under the tree. Sad, but probably a reality. Too bad the Mint can’t hire anyone with any REAL business experience to show them how to run things.

  68. Kelly says

    Michael

    I just called the mint fullfillment center with a few questions and spoke to Rhonda who was very pleasant. One of my questions was about the mintmark on the making of America set and after checking with others there, she said “they think the eagle in the set will bear a West Point mintmark”. Of course she said that is subject to change since they do not have anything in writing yet so dont take this to the bank, no pun intended. Maybe you could reach out to one of your contacts and verify what the mintmark will be.. It would certainly put alot of us to rest. Thanks again for all you do!

  69. Jeremy says

    @Kelly, Michael had stated that he will do what he can to acquire as much information as possible about this new release.

    “Mint News Blog: “I am trying to confirm what mint mark is on the 2012 Proof Silver Eagle included in the “Making American History Coin and Currency Set”. Will provide any information as soon as I receive it.”

  70. Gary says

    No way they put a West Point mint coin in a set that is is honoring the heritage of coin production at the San Fransisco mint? That would make no sense at all!

  71. Dursch says

    From the program information on the product page. It specifically mentions west point

    “Several United States Mint facilities are also celebrating 75-year milestones in 2012: the opening of the depository at Fort Knox; the relocation and opening of the San Francisco facility; and the beginning of construction of the West Point facility.”

  72. DCDave says

    True Dursch, but the description of the actual siver eagle coin (in question) is as follows:

    “This 2012 American Eagle Silver Proof Coin not only honors the artistry and design of our Nation’s coins, but also honors the heritage of coin production at the United States Mint at San Francisco.”

    Don’t be surprised if they offer the special 2012 S reverse proof in some other special set later this year.

  73. Mint News Blog says

    The Proof Silver Eagle will have the “S” mint mark. Full post coming soon.

  74. TomP says

    Michael,

    Will the Mint & Currency History set have a delayed shipping? The Infantry and the SSB special sets certainly did. The Mint only has the standard info 1 – 2 week shipping now, but hasn’t the Mint announced delayed shipping about the time of the sales start with certain products in the past?

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