U.S. Mint Resumes American Eagle Silver Sales with 3 Million Ounce Inventory

SilverUSMintEagle1ozBU2015

After running out of 2015 1 oz. American Eagle silver bullion coins on July 7, the U.S. Mint has resumed sales to authorized purchasers. Reuters notes that the mint’s current inventory includes three million ounces—a modest head-start on production for a coin that sold 24,495,000 units so far this year.

Demand for bullion coins has been strong as of late. U.S. Mint gold bullion sales jumped sharply last week after the London Bullion Market Association (LBMA) assigned lower values to the commodity, making it more affordable. Thus far in July, the mint’s gold bullion sales stand at 143,000 ounces, up from a total of 76,000 for all of June. One-ounce gold bullion coins have sold 122,500 units this month; 1/2 oz. coins have sold 7,000; 1/4 oz. coins are up to 22,500, with 1/10 oz. coins at 115,000.

reverse

The LBMA currently lists the value of gold as $1100.00 per ounce; the same quantity of silver is worth $14.69. For more information on 2015 American Eagle gold and silver bullion coins, visit the U.S. Mint’s Web site.

Facebook Twitter Email

Comments

  1. gary says

    If PMs keep on declining, these 3 million will sell out fast and the Mint will need to keep on producing more and more. Makes me wonder if the Mint might now reallocate silver that has been earmarked for the ATB 5 oz. bullion and the ATB “P” Mint coins to keep up with demand for the ASE oz. It could be that the Mint cancelled the silver HR medal so that it would not take away from ASE 1 oz. production.

  2. GoldFishin says

    @FM- I think there are a number of individuals, Cagcrisp included, that could run this blog and do a good job of it. But first and foremost, I think there should be someone with a numismatist background, who can also remain neutral on coin related issues, but provide insight that is pertinent to collectors of modern coins in REAL TIME. To be honest, the “remaining neutral” part of my statement would disqualify many posters here, who otherwise have an extensive knowledge of coins.
    I think we have to give the new guy Dan a chance, as we know nothing about him and his background. Is this just something that was assigned to him by Whitman or is it something that he has a real interest in? All we have to go by to make our assessments are the news stories that are garnered from various sources around the web.
    What has always made MNB successful in my opinion is the Real Time information you receive from all the posters here, guided by a blog host that has a love for the hobby coupled with in depth hands on experience.

  3. Ends in Error says

    I got a Jacqueline Kennedy Proof in today. That is one of the best spouse coins out. Too bad Gold is dropping so bad, this coin is going back ASAP.

    One day I’ll get another.

  4. DCDave says

    If you like the Jackie, why don’t you keep it? Seems like buying when PMs are low is smart.
    Gold will go up a lot at some point in the not too distant future. Funny when gold is at all time highs people were saying it would go to $5000 oz and now in a long term low they are saying $800. I think it will be at $1300 by year end. Inflation means things will cost more including gold. Keep the coin if you like it.

  5. Tinto says

    @fmtransmitter

    Whoa, that second one is totally misleading IMO … briefly checked out the details. That seller has pulled some info from PCGS (coin #20509) which refers to a 1984 Helen Hayes gold medal and then sneakily put in a two liner at the bottom to “explain” the RR “coin” …

  6. John Q. Coinage says

    That Ronnie Raygun coin @ $175 realy is Al Jolson…..richly struck with .999 fine silver plate & 24k goldette leaf…..Grrrrrrrr

  7. fmtransmitter says

    @Tinto: Hence only 1 feedback. Most buyers on the bay are keen to sellers selling with only 1 feedback. Biggest RED FLAG off the bat. They should be removed soon.

  8. fmtransmitter says

    @GF: Great insight. What I like about Michael is he was so in tune with staying neutral that he would actually go back in and remove statements were even in slightest bit leaning…Great insight..

  9. fmtransmitter says

    The up to the minute information we share here with each other has been a tremendous help to me and I sure others as well. I know many many many people read this without commenting but DO chime in here and there. If you are worried someone will find out your personal information and that is why you may not participate, i assure you I have not been spammed except 1 time I got a call from a guy selling Morgans but this site has never collected my phone # so I am sure was sold some other way from other purchases. I take all reasonable precautions in my internet affairs as well and I recommend others who are not familiar with internet security to take the time to do your research and find ways to keep yourself safe. There are many good sites out there who offer this information for free largely to protect children but anyone as well. I want this blog to be the premier site for those collectors new and old alike to go to for up to the minute information they may be looking for about US Mint products and I think WMNB has a ton of potential as well…

  10. fmtransmitter says

    Those snickerdoodles at the Mint had my Spouse Medal set enrollment turned off. Is that because they are not on sale yet? I hot the place in bag button again and did a checkout….Confusing because this was the enrollment that I said via the tele that I DID want…I cancelled the Pucks.

  11. Hidalgo says

    Gold is below $1,100 per ounce now and silver is below $15 per ounce. I still see both precious metals falling in value, considering what is going on in the world.

    The dollar is strengthening against major foreign currencies. With US interest rates likely to rise in the future, the dollar will continue to strengthen. A strong dollar often means that investors will move their savings from precious metals to currencies.

  12. cagcrisp says

    @ Eagle One, The 2014 Proof Gold Kennedy went “Currently Unavailable” on Thursday. A few have become available since then but never more than a few at one time. Once the 7 day return policy has elapsed I would think they would put up the Sold Out sign…

  13. Dustyroads says

    There are now no more than 21,400 BRP 5 oz. P pucks that the Mint can sell due to an additional 1000 bullion pucks that have just been added bringing the total to 43,600.

  14. thePhelps says

    @Hidalgo…if things were normal it might make sense. Since the money manipulation game has been in effect since 2009 – there is no sure footed this makes sense move.

  15. gary says

    WOW! Of the 3 million or so ASE the Mint had ready to resume sales to authorized distributors, 1.3 million of them were sold JUST TODAY!
    Lots of folks betting on the “poor man’s gold” these days!

  16. Louis says

    Check on this article on the disconnect between paper and physical PM’s:
    http://www.mintstategold.com/investor-education/gold_stories/
    and note esp. the last part:
    “It’s been said that an ounce of gold could buy 350 loaves of bread in Biblical times. Today, an ounce of gold still buys about 350 loaves of bread. However you slice it, whether the system falls into a deflationary depression like the 1930’s or an inflationary recession like the 1970’s, gold will maintain its purchasing power.

    Though past performance is not necessarily an indicator of future results, we have over 6,000 years of history backing gold’s legitimacy as a true mechanism of exchange.”

  17. says

    Dustyroads said:
    There are now no more than 21,400 BRP 5 oz. P pucks that the Mint can sell due to an additional 1000 bullion pucks that have just been added bringing the total to 43,600.

    I’d be careful about acting on this so-called “information” because that 60,000 combined limit has never been published on any website ending with the high-level domain name of GOV. The one and only limit which has been officially published by the Mint indicates it can mint and sell a limit of 30,000 of the SN3 Blue Ridge Parkway 5 oz silver coins. Period.
    http://catalog.usmint.gov/SN3.html

  18. GoldFishin says

    @cagrisp- Wow, the Truman sets just keep advancing. BIN’s today going for close to $220 and sealed 5 set boxes averaging $240+ per set. Really has been fun to watch.

  19. bob r says

    Yeah, sold my 5 sealed box just under $900 just over a week ago, just pulled the trigger too soon.

  20. Jerry Diekmann says

    Do we know yet what the new gold coin will be selling for through the Mint on July 30? If gold is beginning a long downturn (maybe the same for the stock market too), then probably a lot of people will hold off buying this coin, thinking and hoping that the price will go lower. But it appears the Mint never cuts back on its premium over bullion, which is beyond greedy, IMO.

  21. VA Bob says

    I’d be curious to see what these Truman C & C set’s are selling for in a year or two. I have a feeling the flippers are cashing in on the hype. I suppose there will always be a premium, but when the Mint start cranking out these novelties regularly it’s bound to depress the prices.

  22. Piotr says

    The Truman C&C sets will always be the first clad RP, however you look at it. If the Mint continues with the pattern of making yearly clad RP releases then those later ones may be less significant, depending on the mintages. The collector base for clad RP is solidifying. If someone down the road discovers the RP clad to be a choice for their budget, they may decide to get the first year coin as well, however expensive it may be. As long as they have all them coins in the set.

  23. Dustyroads says

    VA Bob, I’ve decided that the upcoming RP C&C sets will be good for the previously released sets values.
    Memories will no doubt fade of one time releases, but repetition creates long term memory, and the need to collect all necessary pieces.

  24. cagcrisp says

    @Jerry Diekmann, IF the Tuesday and Wednesday’s AM and PM fixes remain between $1,050.00 and $1,100.00, then the HR Liberty will be $1,490.00. IF Wednesday PM fix is Above $1,100.00 then the price will be $1,540.00…

  25. GoldFishin says

    @Cag- IF the Tuesday and Wednesday’s AM and PM fixes remain between $1,050.00 and $1,100.00, will the price of the Proof Buffalo or AGE change or will they remain the same? at $1490 and $1460 respectively?

  26. Gary Not Dave says

    Why would a flipper care if there is a POP POP POP……we are done…..already been flipped. Don’t care where the prices go now.

  27. cagcrisp says

    The Key is Wednesday’s PM fix. All it takes is a PM fix of $1,100.00 or slightly above and we stay at current levels. At that point is wouldn’t matter that the previous fixes averages Below $1,100.00…

    Today at one time Spot was $1,106.00 so it sure could happen…

  28. VA Bob says

    Dusty – Sure some people will be moved to collect the RP’s (My motivation was the C & C sets I’ve been getting over the years, check the TR and FDR set numbers to see what the hobby can bear.). The RP adds a new wrinkle, but the number we don’t know is how many were purchased by collectors, flippers, and speculators. It’s easy to see hype is driving the Truman set at the moment. I’d like see the long term outlook.

    Gary not Dave – Congrats on the flip and forget – Mike Mezack would be proud of his prodigies. 😉

  29. Dustyroads says

    VA Bob, The fact is they are very much on the rare side in comparison. I believe that’s the real push. Not a bad display too.

  30. The Real "Cool" Dave says

    thePhelps says on July 27, 2015 at 7:37 pm

    “@Hidalgo…if things were normal it might make sense. Since the money manipulation game has been in effect since 2009 – there is no sure footed this makes sense move.”

    I agree and what is going to happen sooner than later is it will all fall apart — this is just a temporary event. A correction maybe before the real event. Do the math, people.

  31. Jerry Diekmann says

    Thank you, cagcrisp. One heckuva markup by the Mint, I would say. I will probably take a pass and see if gold trends lower. The Mint doesn’t care – they still make the same ungodly premium on their gold coins. With a premium of $440 over bullion, that comes to at least 40%, and higher the more that gold decreases in price. This is unconscionable greed, if you ask me.

  32. VA Bob says

    Dusty – really? I was a bit disappointed by the packaging this go round. The coins and medals were nice quality, but I didn’t care much for the waxy, open ended package. FDR’s packaging was much nicer, and had three stamps. I wouldn’t have minded if they threw a WWII and a Korean War (if there is one) stamp in the kit, as these two events bookended Truman’s presidency. It just seemed cheaper in execution. I have a feeling Ike’s presentation will be similar (since we know the contents). Please no waxy cardboard. I’d normally be hoping for a half in the JFK set, but I’m half dollared out from last year.

    Also I like the reverse, it stands out well, but the bust of Truman makes him look like the T-1000 Terminator. I believe the RP treatment looks best with more flat field and less shinny area, especially a blob like a bust portrait serves up. Good quality though so I can’t complain too much.

  33. VA Bob says

    Jerry – my feelings exactly. It doesn’t cost any more, after the materials procurement, to strike than any clad coin. I wonder if the Mint knows how many sales it loses that probably could be made with quantity, not to mention the good will. I’m not even going to mention what causes the difference between an UNC gold buffalo and the HR to cause such a price difference.

  34. rolling-thunder says

    Off topic – unless the topic is your money

    Seems like the “new” PayPal is attempting to pull a fast one – quietly raising fees from 2.9% + 0.30 USD to 3.4% + 0.30 without giving a 30 day notice of a ‘Substantial Change” in their “Policy Updates”

    Dear PayPal very bad for your customer relations!

  35. SilverFan says

    Who are buying these Truman sets at over $200? They contain one ounce of silver, a non PM $1 coin which many find ugly, and an outdated postage stamp. I know about the 17,000 mintage, but these are not rare or scarce. This is a great example of hype.

  36. ClevelandRocks says

    I totally don’t get it. The only thing is that if there is a low pop of 70s on a modern coin, this can drive everything up if the 70s are commanding such a premium. High grade “real” business grade clads in 68 and 69s command large premiums, unlike the ’15 HR the Truman is a semi-real coin. The clad 5 star general and army clads are not attractive but command large premiums today in ms70.

  37. JagFan says

    The one thing that you can’t discount is how many Collectors out there have been putting together a Proof Presidential Set over the years and if so, these are the crown jewel of the set.

    Just thru HSN alone, they Hawk the Presidential Dollars and sell the automatic subscriptions all the time.

    These may just be Modern Coins but with a doubt those who got pulled into the Hobby during the State Quarters Program stuck around for the Presidential, Sacagawea & ATBs.

    The Sacabucks are selling around 4x the initial price. We are approaching that neighborhood now.

    Just Saying

  38. Goat says

    Heads up I was bragging that I had sent very few coins back due to defects/etc.. If you all want to have the item sent back to you , you have to mark the “exchange for new item” . If you mark “replacement” the mint will refund your money (that’s what I marked) . I don’t know what the “refund” resolution is on the sheet for , WOW the mint has two resolution boxes for returning money not product. My mistake hope this helps someone for a quicker turnaround . The coin sent back and got to Memphis on July 15, no follow up on what was going on from the mint , had to call today that’s when found out the bad news.
    The reason I sent it back was it had a huge pothole in the coin before the road. Very easily seen without magnifier .

    So much going for a drive with a 10x magnifier .

  39. cagcrisp says

    We Only have two Gold fixes left before the 2015 HR Liberty pricing. The remaining two fixes would have to Average $1,122.95 or Above for there NOT to be a price reduction OR the Wednesday PM fix must be $1,100.00 or Above.
    Let’s just Assume that the two fixes will Not Average $1,122.95 or Above, that means for the Mint to continue in the Current price range the Only shot is Wednesday’s PM Fix.
    How important is the Wednesday’s PM fix to the Mint? Plenty Important. Whatever coins they have produced and ready to ship are already a done deal. Costs have already been incurred. The Question is will the price be $1,490.00 or $1,540.00? $50 (additional) Profit for each and every coin Sold. Pick a number for Sales for this week. 17,500 is a good number so the Extra profit for Just the $50 would be $875,000. SO how important is an extra numismatic profit of $875,000? In Total for FY14 for the numismatic side the Mint had Net Income and seigniorage of $50.8 million with 5.7 million units of coins Sold. $875,000 on 17,500 units is substantial.

    SO…IF I was the Mint I sure would like to see Wednesday PM fix move up a few $ to hit $1,100.00 or more…

  40. SilverFan says

    Given that the gold HR coin will be priced well over spot (with gold currently falling) and mintage is relatively high at 50K, can this coin really be purchased and flipped for profit? May be better to sit on sidelines and buy if gold spot decreases over next several months. Thoughts?

  41. Goat says

    Let’s assume that the mint/fed knowledge on what the future price will be (Controlled Market) that they played the futures market and bought the gold much cheaper. I feel we are in for a bull market in PM’s shortly ( if our suit and ties can’t turn a 180 ) . The Mint’s gold products (most of them on market now very few future releases for gold later on Sept. , thru Dec. ) “Lady Bird” is the last one in Aug. . With major issues ( money exchange, company earnings report’s/ etc. ) in October to be addressed might turn PM’s into a bull market. I don’t think it was an accident of listing almost all gold before October. Last year the mint’s massive run on gold products Oct. – Dec. took a toll on most.

    If we could do business like them we would be rich. IMO.

    As we all know people will make money in the market ( a bear market higher premium’s ( slower volume ) , bull market price inflation ( faster volume. ) )

  42. cagcrisp says

    @SilverFan, As far as flipping is concerned. Go to the bay and see that there are “10 available” for $1,762.50. Do the math, Do you think you can Buy for either $1,490.00 or $1,540.00 and undersell $1,762.50? with the bay, the pal and the shipping? and still make a profit?

    Why oh Why would anyone buy from the bay for $1,762.50 when they can buy directly from the Mint for $200+ less?

    Now this offering is a pre-sale,(just like #2 Big Boy) so IF they don’t sell then you don’t buy. Nothing at risk. Much different than buying first and then hoping to sell…

  43. KCSO says

    Cag, I would really like to adjust my opening weekend sales guesstimate downward, though I’ll stick to my original as we’re 48 hours out now from Game Day

  44. KCSO says

    This will be the first major release since 2006 that I’ll be sitting on the sidelines for.., I’m actually quite bummed cause I want to come out and play.., though simply can’t justify it.., oh well, 11 Aug isnt that far off!

  45. cagcrisp says

    2015 HR LIBERTY Guesstimates:
    Opening week numbers and Final Mintage

    KCSO 13,500 31,000 18 months
    cagcrisp 17,500 50,000 as long as it takes
    thePhelps 9,500 29,500
    GoldFishin 12,434 25,900 1st 12 months
    bob r 5,800 18,500
    ClevelandRocks 4,800 Around 30k by 2018
    gary 26,325 50,000 by end of 2015
    goat 19,820 50,000
    SilverFan 5,000 25,000 pulled at year end
    A different Jeff < 2,000 20,000 or less
    a Bob 8,876 37,205
    stephen m 11,225 50,000
    Zaz 8,972 34,883
    Sith 23,000 50,000
    jj 9,217 41,510
    Don 50,000 50,000
    ips_stuff 16,000 32,000 by end of 2015
    Steve 15,000 26,650
    DCDave 2,796 9,978
    Bernie in FL 2,478 28,920
    mattarch 1,200 28,900
    Tinto 3,300 26,200
    blackbeard 14,500 37,000
    paddy 8,350 50,000
    Jerry D 7,777 37,777 7's wild
    CaptainOverkill 9,000 17,500 by end of 2015
    TMMSR0127 6,500 24,500

  46. Leo S. says

    FS Collectors – Grace C finally has sold out, maybe. Only a whole bunch more 2013 and 2014 to go!!! With sales for the 2013 and 14 so low, the Mint should remove them all now.

  47. Larry says

    @ Silverfan, As for the $200 for the Truman set, looks like simple supply an demand. 17,000 may not be rare for a First Spouse coin as there is little demand. But for a circulating coin, 17,000 is rare as there are many collectors of presidential dollars and this coin is now the key, as will the rest of the RP dollars. You have to go back a long way to find even a proof circulating coin with a mintage that low. Also, many, like me, find the RP coins very attractive. So you get both the RP collector and the presidential dollar collector needing this coin.

  48. TomP. in Va says

    Why has the Coolidge F.S. proof gold been suddenly dropped from the catalog while the Kennedy gold is still listed as currently unavailable ? If the Kennedy is waiting a week or so for possible returns, why not for the F.S. coins as well ?

  49. gary says

    If you might be under water on U.S. Mint gold numismatic purchases from 2011 to date it may make more sense to buy gold bullion for as cheap as you can get it now and put the $400 mint premium for the 2015 HR in your pocket.
    I see absolutely to reason or upside to jump on the 2015 HR like a bum on a baloney sandwich. It will certainly sell for a discount in the aftermarket.

  50. cagcrisp says

    @TomP. in Va, The proof Coolidge is listed on two different pages as “currently unavailable”. Just like the Gold JFK. The pages are not synced together. Sometimes it takes a few minutes to do things manually…

  51. fmtransmitter says

    @GoldFishin: I forgot to say thanks for sharing about your NGC submission. Yea, I didn’t see any reason to grade the medal or it made more sense to grade the dimes, which it turns out was the winner in the bunch. Keep us posted on what you get if you don’t mind..

  52. TomP. in Va says

    cagcrisp, Thanks. I found the Coolidge listed under ‘coins…gold’, but not under ‘coin programs…first spouses’.
    I just received my Kennedy gold this morning that I had ordered last Thursday. It looks perfect so that allays my concerns that I would receive a return reject by ordering one of the final offerings.

  53. cagcrisp says

    Someone last week was asking about the “2015 PRES $1 & FS MDL SET – KENNEDY”. Sales show 16,617 +1,704

  54. A different Jeff says

    @cagcrisp – The PM pricing grid uses 9 fixes, not 10. The Wed PM fix is used as the determinant to establish what the change may or may not be.

    From CoinNews.com 3/3/13 (http://www.coinnews.net/home/coin-news-extra/2013-pricing-tables-for-us-mint-gold-coins-and-platinum-coins/) –
    “Prices used to calculate the weekly average are the London gold and platinum fixings beginning from the previous Thursday AM Fix through to the current Wednesday AM Fix. There are a total of nine AM and PM fixings used for the average, unless a holiday is in the mix. A tenth fixing, the Wednesday PM Fix, is used as a directional component that can trigger or halt a change in coin prices even when the weekly average for gold or platinum moved into a different pricing grid level.”

    Thus, the Wed AM fix has to be $1146.00 or higher or the PM must be $1100.00 or higher for the price to remain where it is. Given where prices are today, it is more likely that gold might cross over $1100 for the PM fix. If both conditions are false,then we will see the reduction.

  55. Goat says

    cagcrisp says

    July 28, 2015 at 10:31 am

    We Only have two Gold fixes left before the 2015 HR Liberty pricing. The remaining two fixes would have to Average $1,122.95 or Above for there NOT to be a price reduction OR the Wednesday PM fix must be $1,100.00 or Above.
    Let’s just Assume that the two fixes will Not Average $1,122.95 or Above, that means for the Mint to continue in the Current price range the Only shot is Wednesday’s PM Fix.
    How important is the Wednesday’s PM fix to the Mint? Plenty Important. Whatever coins they have produced and ready to ship are already a done deal. Costs have already been incurred. The Question is will the price be $1,490.00 or $1,540.00? $50 (additional) Profit for each and every coin Sold. Pick a number for Sales for this week. 17,500 is a good number so the Extra profit for Just the $50 would be $875,000. SO how important is an extra numismatic profit of $875,000? In Total for FY14 for the numismatic side the Mint had Net Income and seignior age of $50.8 million with 5.7 million units of coins Sold. $875,000 on 17,500 units is substantial.

    SO…IF I was the Mint I sure would like to see Wednesday PM fix move up a few $ to hit $1,100.00 or more…

    Leo S. says

    July 28, 2015 at 11:54 am

    FS Collectors – Grace C finally has sold out, maybe. Only a whole bunch more 2013 and 2014 to go!!! With sales for the 2013 and 14 so low, the Mint should remove them all now.

    Goat;
    Ask is the mint losing money on the 2013/2014 gold spouse ? Gold prices were much higher then than now . I’m with you Leo S. , hope the mint puts sold out on them.

  56. cagcrisp says

    @Goat, “Ask is the mint losing money on the 2013/2014 gold spouse ?” The Mint already has all its cost built into the 2013/2014 gold spouse. The question for the Mint is whether they are better off Selling FS coins (regardless of their cost basis) at the Current price of $765.00 or $745.00 when the Spot price of 1/2 oz of Gold is $548.00? IF they pull the coins, they have the additional cost of melting them down, destroying the packaging and putting the Gold back into inventory to be used again. It still wouldn’t change the fact that you would be putting a coin that you could potentially sell for $765.00 or $745.00 back into inventory at Spot price of approximately $548.00…

  57. Goat says

    Just wished I would of caught on to what the Mint was doing sooner (change of policies ) . Makes me regret that I had got involved in the spouse coins . Just knowing now that I could of bought three years of the series in this year makes me sick . If the Mint stamped the coins out in 2013 and are holding them for future sales they would be losing money (that was my thoughts) ? If the Mint is making coin as people order the spouse coins and with sales some weeks of 5 or less that’s changing dies a lot on the machine and it’s amazing that we did not end up with a coin with the wrong reverse/obverse . I was always told , ” if you want to make money need to follow the top 3 % of the population ” . I’m lost now when it comes to spouse gold ?

  58. cagcrisp says

    @Goat, They can’t make any 2013/2014 in 2015. What the Mint is offering is just what they produced in those CY’s…

  59. rolling-thunder says

    My attempted post from midnight (last night) -stills says ‘awaiting moderation – so much fro quick communication in this digital world – so I’ll try again

    Off topic – unless the topic is your money

    Seems like the “new” PayPal is attempting to pull a fast one – quietly raising fees from 2.9% + 0.30 USD to 3.4% + 0.30 without giving a 30 day notice of a ‘Substantial Change” in their “Policy Updates”

    Dear PayPal very bad for your customer relations

  60. Mr. Kairu says

    Apparently someone on the CCF site states that the mintage for the Kennedy C&C set has been upped to 50,000 and HH limit of 2… waiting to get a source. O.o

  61. David says

    Even with these being precious metal coins, how can these ever be worth much seeing that the market is flooded with silver bullion?

  62. cagcrisp says

    @ Sith,
    Sales for Jackie Kennedy Proof – 9,538
    Sales for Jackie Kennedy Unc – 4,867

  63. Hidalgo says

    @David – you should buy a coin because you like it, not because you think it will increase in value. I realize there are some bloggers who disagree with this point of view. It is ultimately your decision. I invested my savings in stocks and mutual funds. I now have a nest egg in the 7-figure range.

    So decide what is best for you, is in line with your future goals, and what will make you happy. Make decisions and never regret them.

  64. Leo S. says

    FS Collectors – Just checked out the weekly sales on CoinNew.net and there were 16 2014 coins sole and Zero (0) 2013 coins sold. The Mint really needs to get its head on straight and remove all the 2013 and 2014 coins. Also noted that some 700+ Jackie O Unc. were returned to the Mint. Did the big coin show people try to get these graded at 70 and then dump them back on the Mint??

  65. Sith says

    @cagcrisp – Thank you!

    @David – The market is flooded? What criteria are you using to come to that conclusion? It took the mint 3 weeks to replenish its stock, and it now rationing its current supply of ASEs. Based on that I think demand has out stripped supply. But you are right on the second point they will not be worth much (over spot price) but that is the entire point behind bullion.

    Bullion – gold or silver in bulk before coining, or valued by weight. A bullion coin is a coin struck from precious metal and kept as a store of value or an investment, rather than used in day-to-day commerce. In buying coins, there are two different types of values to deal with. One is the “melt” value, or the value of the precious metal contained in the coin (also known as the bullion value). There are a number of collectors who buy coins specifically for the silver or gold content as silver, gold (and platinum, et cetera) are commodities that are sometimes known to appreciate.But do not get the bullion value of a coin confused with its numismatic value. Numismatic value of a coin is determined by its rarity and condition. Bullion value is determined by the value of the metal the coin is made of.

  66. Sith says

    @David – To answer your question directly ‘how can these ever be worth much.” Well the buyers are expecting the price of silver on some future date to be higher than it is currently, if that price is a multiple of today’s prices they will make a killing.

  67. fmtransmitter says

    @Joseph: I was just sharing a cool story but hey thanks for letting me know. I mostly stay OT..Anyone else hear about 50k for Kennedy C&C?

  68. fmtransmitter says

    @Sith: numismatics much better investment IMHO but we all started somewhere and it took me about a year to switch. I still stack but the returns and the game of chess called numismatics is oh so much more fun..

  69. Louis says

    Mr. Kairu- It is true. The Mint sent a press release late today about the JFK set and also one on the coin and currency set, which has a 5 household limit.

  70. Teach says

    @FM – concerning Kennedy 50K – there’s a guy on CCF who said he had an informant who told him about this increase. He also mentioned the new Sacabuck set was going to have a HH limit of 5 and cost $14.95. I asked him about the mintage limit for the Sacabuck set and he said he would have to get more info from his informant. If the Kennedy does move to 50K, the Truman and IKE sets will probably be worth even more down the line.

  71. GoldFishin says

    IF 50K for Kennedy is true, it will make the Truman and Ike issues more valuable. There will be 33K orphaned Kennedy sets that will never be able to get adopted into a Presidential RP Collection of the entire series. So sad….

  72. cagcrisp says

    @Goat, I’m sure there are some returned Gold coins w/w when prices are dropping. Today’s numbers on some Gold items are just wrong. There were more negative numbers than Sales for the past few weeks. When this happens there well be another adjustment the other way in a few weeks…

  73. says

    cagcrisp said:
    … How important is the Wednesday’s PM fix to the Mint? Plenty Important. Whatever coins they have produced and ready to ship are already a done deal. Costs have already been incurred. The Question is will the price be $1,490.00 or $1,540.00? $50 (additional) Profit for each and every coin Sold. Pick a number for Sales for this week. 17,500 is a good number so the Extra profit for Just the $50 would be $875,000. SO how important is an extra numismatic profit of $875,000? In Total for FY14 for the numismatic side the Mint had Net Income and seigniorage of $50.8 million with 5.7 million units of coins Sold. $875,000 on 17,500 units is substantial.
    SO…IF I was the Mint I sure would like to see Wednesday PM fix move up a few $ to hit $1,100.00 or more.

    If you understood how things really work, you’d realize the Mint doesn’t care at all about the current price of gold, because it has no effect on the Mint’s profit margin.

    Whenever the Mint needs to manufacture gold coins, it simply borrows the necessary gold from the U.S. Treasury, which has tons of the stuff sitting idle in its vaults. Each week, as the Mint actually sells the gold products it made, it buys an equivalent amount of gold on open market and sends it back to the U.S. Treasury to pay off its “gold” debt. The Mint has practically zero exposure to gold price fluctuations and it doesn’t have to spend any money on hedges to achieve that nirvana.

  74. KCSO says

    Yeah Cag, If you understood how things really work, you’d get your act together… 😉

    DNFTFT!

  75. cagcrisp says

    @KSCO,, Yep I wanted to posted something. Talk about being CLUELESS in CT…

    DNFTT. I need to always remember that…

  76. Teach says

    The guy on CCF is now stating the Sacabuck mintage will be 90 K this year. I guess we will wait and see if this all pans out………..

  77. GoldFishin says

    ’15 Sacabucks dead in the water….JFK’s soon to follow. Now we know why the Truman’s continues to soar. I thought the greedy Mint may do something like that.

  78. cagcrisp says

    @KSCO, (This is just between you and me )

    “the Mint doesn’t care at all about the current price of gold, because it has no effect on the Mint’s profit margin.”

    This is from the Mint’s FY2013 report concerning Silver MARGIN: “The annual recurring sets product category generated a loss of $3.4 million in FY 2013. This loss is mainly attributed to reduced margins, as the price of silver proof sets was lowered in July in response to lower silver content value in the set from significant decreases in silver commodity spot prices.”

    This is from the Mint’s FY2014 report concerning Silver MARGIN:”Lower spot prices meant the price on silver proof sets was lower, resulting in reduced margins for these products.”

  79. GoldFishin says

    So I guess since the US Mint operates its gold credit and debit system through the US Treasury, the US Taxpayer is the real loser. I mean the gold DOES have an established value the day it is supposedly withdrawn, if the US Mint later replaces it at a lower price, then it is the taxpayer that is the real loser, at least on paper. I guess according the RT, the US Mint just operates in a vacuum. Of course with the current crowd that is running things nothing would surprise me, including sliding gold out the back door without any record of value attached to it.

  80. says

    cagcrisp said:
    This is from the Mint’s FY2013 report concerning Silver MARGIN: “The annual recurring sets product category generated a loss of $3.4 million in FY 2013. This loss is mainly attributed to reduced margins, as the price of silver proof sets was lowered in July in response to lower silver content value in the set from significant decreases in silver commodity spot prices.”

    This is from the Mint’s FY2014 report concerning Silver MARGIN:”Lower spot prices meant the price on silver proof sets was lower, resulting in reduced margins for these products.”

    Um, can I point out that gold &NE; silver?

    The prices at which the Mint sells gold products are based on a grid which can be automatically adjusted weekly and which guarantee the Mint a fixed profit over the current price of gold, whatever that is. The prices of the Mint’s silver products are not on a grid and are, therefore, adjusted only infrequently.

    Although the Treasury has tons of gold to lend to the Mint, it has very little silver stockpiled. This forces the Mint to buy silver on the open market when it needs to manufacture silver products. It attempts to hedge against losses due to future silver price declines with third parties, but that is an imperfect art.

  81. Louis says

    Not sure why several of you keep saying “if it’s true.” This is why I took the time to share with you that there was an official press release from the USM. Believe me, it is true.

  82. fmtransmitter says

    @Joseph: BTW the treasure that was found contained one VERY rare coin worth $500k with only 6 known to exist and was a presentation coin not to be used in commerce.
    1715 tricentennial royal

  83. says

    Wow. Last week was bad news for the MInt and its gold and silver product sales. There were many such products whose total sales numbers this week were less than last week’s.

    Click on my name and, when the spreadsheet settles down, right-click on column E (One Week Change) and select Sort Sheet A → Z to see the carnage.

    I see that K15 Kennedy gold half-dollar sales fell by 264, even after their Saturday morning sales.

  84. fmtransmitter says

    including sliding gold out the back door without any record of value attached to it.

    That is what we thought the Saddle Ridge Hoard was, remember? Gold slid out the back door! Didn’t that guy get hanged? It is hanged right, not hung?

  85. Teach says

    Coinnews.net has an article confirming the 2015 Sacabuck will be 90K, HH limit of 5, at $14.95 per set. Here’s the twist, it is going to be minted in West Point.

  86. Teach says

    I forgot to mention that each of the dollar bills from NY will start with “911” for the iron workers who rebuilt after 9/11.

  87. says

    Teach said:
    Coinnews.net has an article confirming the 2015 Sacabuck will be 90K, HH limit of 5, at $14.95 per set. Here’s the twist, it is going to be minted in West Point.

    Seriously? It’ll cost a dollar more than last year’s $1 Coin and Currency Set just because the coin is minted at West Point instead of Denver?

  88. Teach says

    Inflation………hey don’t shoot the messenger, wasn’t my idea to charge an extra buck. I guess they should have put in a $2 bill so it worked out the same as last year’s cost.

  89. A different Jeff says

    Printing costs are up.
    Seriously, I hope the quality is better from West Point than Denver WP at least has a reputation for producing high quality material.

  90. Teach says

    I’m sure the Sacabuck set will sell, the question will be how many and how quick of the 90 K. I’m sure I will get at least one to go with last year’s EU.

  91. Boz says

    D.R.
    Can that 3000 roll increase in homestead S rolls be correct?
    If so what the hey is going on with that?

  92. The Real "Cool" Brad says

    If it’s true about the jfk coin and chronicles mintage increase, they must be cashing in.

  93. Tinto says

    Well at least it’ll be easier for me to get the JFK RP and the 2015 SAC C&C … I’ll rest easy after I get my Ike C&C order in and the Mint doesn’t place it on backorder ….

  94. GoldFishin says

    KEITHSTER….are you out there? I haven’t heard from you in a while. I hope everything is OK with you and your better half. I guess maybe you have been busy polishing your Truman RP’s? Did you receive nice quality sets? Good luck to us all>>>

  95. longarm says

    Gold Reserve Act of 1934

    “Section 10 of the act established a stabilization fund of $2 billion under control of the Treasury. These funds came from the profits the government earned when it raised the price of gold. The Treasury could use the Exchange Stabilization Fund (ESF) to buy or sell gold, foreign currencies, financial securities, and other financial instruments in order to control the dollar’s value and to conduct open-market operations without the assistance (or approval) of the Federal Reserve. The Treasury could also use the ESF to transfer funds clandestinely to neutral nations and international allies; this tool proved useful during World War II.”

    http://www.federalreservehistory.org/Events/DetailView/13

  96. KCSO says

    Ha, I forgot about Tequila Tuesday’s!

    Yeah, Sacabuck Redux @ 90k..,, Dead on Arrival! Too bad… Kinda lost my enthusiasm for it now

    W quality control is such that of all mints, an error is least likely..,, though one never knows…

  97. Ends in Error says

    In a couple years when coin & currency sets breach 1 million …. we’ll long for the days of 90 K mintages..

    Ha ha maybe someone but not me. I guess I’ll get at least 1 just out of habit.

  98. NcCoinCollector says

    The increased mintage and 2 per household limit for the Kennedy Coin and Chronicles set might be indication that those who purchased last years Kennedy anniversary sets would like to add to them. Given its relation to the half dollar the silver medal is also a draw along with the reverse proof. I would not be surprised to see the Reagan mintage that high or higher.

  99. cagcrisp says

    “The prices at which the Mint sells gold products are based on a grid which can be automatically adjusted weekly and which guarantee the Mint a fixed profit over the current price of gold, whatever that is.”

    It does NOT guarantee a fixed profit. It guarantees a fixed SPREAD not a fixed profit. A Profit is the difference between what something costs and what you sell something for. The grid is Not the same as cost. The grid is a pricing mechanism and nothing more. The current grid for Gold is $1,100.00-$1,150.00. At the grid pricing a 2015 HR Liberty would sell currently for $1,540.00. That does NOT mean a Profit Margin of 40% based on $1,100.00 or Profit of $440.00. It is a Grid pricing and does NOT guarantee a fixed profit. Spot price of Gold is the major component in COGS but it is Not all the costs…

    You need to learn Something about Cost Accounting…

  100. Larry says

    I think that the mints making another enhanced Sac dollar is a good thing. A whole series of them might make them more valuable in the long run as some folks will want to collect the series. Last years was a real nice looking coin, and since I really like this years, I can’t wait to see the enhanced version. I don’t care if they make 90K or 900K, I am in.

  101. cagcrisp says

    @GoldFishin, I have noticed that many of the 69’s are going for same money or less than the OGP Trumans. How much does it cost to get one graded?

  102. GoldFishin says

    @Cag- yes, they have been, a very unusual circumstance. I think it is because the 70’s are selling for so much. Folks buying sets hoping they are getting a 70. Whether they have it graded or not, they can always think they may have a 70.
    After all fees including shipping, my cost came out $26 per coin. At current prices for OGP and graded 69’s, I will lose profit I would have otherwise gained by selling in OGP if I only receive 69 grades. I knew that going in, that is one reason I waited as long as possible before sending mine in….so I could get some more sales data. The dilemma I had was….I had two RP’s that had the potential to grade 70 and I just couldn’t sit on them without knowing for sure if one of them would. I am collector at heart, and I usually end up keeping most of what I purchase, only selling enough to defray some of my costs.

    I also am looking at the low number of auctions for NGC graded coins and am thinking that later down the road the graded coins will outperform the OGP sets. As the series progresses, collectors will begin to go back and try to pick up graded 69’s. With so very little supply my guess is, prices will eventually go higher. I think the Truman sets will always be the key coins. Everyone will be ready for IKE and I expect that many more sets will be graded in pursuit of elusive 70 grades….the Kennedy’s are now being overproduced, and the LBJ will likely have higher mintages as well, but who knows for sure.
    I really didn’t put too much into them when you consider that the BIN sets that the big dude is selling are priced at $219. It was worth the gamble to me to see if one of my RP’s or Medals would receive the highest grade. I am already playing with the house’s money, so it is all good.

  103. Goat says

    cagcrisp
    $ 20 @ NGC $15 for grading modern , $5 for plastic holder ( this is mandatory due to being a set ) .
    Snail mail price less . Mine stood for four days in Chicago IL. (proud). WOW

  104. Goat says

    GoldFishin is right I forgot shipping /handling (to and fro) it is $6, ( if you send in enough coin to average out the cost ) now to sell on bay 13% it is close margin for selling the set . Sell the coin only . To help from losing keep the silver and but wait The Stamp ( OGP ). At this time you will make money with holding your profit (silver @ melt value ? ). Time will tell if profit decreases, my guess is when IKE production begins people will focuses on new production not old. ( less profit )
    GoldFishin like your style.
    Goat has a lot to learn . Thanks

  105. GoldFishin says

    @Goat- The $5 is for Special Label/Designation – Early Release or First Release. Plus, I paid the $3 fee to have my OGP returned.
    How did your grades come out? Did you pre-screen or just send them in blind?

    I have had the most trouble shipping into TX, the Northeast, and the Chicago area. It always seems to take an extra few days no matter whether its First Class or Priority. TX is horrible, I dread it every time I have to ship there. My latest Priority shipment to FL took one business day. I always get good service to FL and California.

  106. GoldFishin says

    @Goat- if you sell enough on the bay you can open a store and get your costs down to 9%, including paypal fees. It is worth the monthly cost if you sell over $500 in a month. Of course the more you sell in excess of $500, the more you will save. You can close the store after your 1st full month. What you want to do if you open a store is open it near the end of the month, because they prorate that month which would cost you very little, Then they make you pay for one full month at the $19.95 rate.
    For example, you could open your store today 7/29 and pay a prorated amount for just 3 days. Then, you would be billed the $19.95 for the month of August. You could sell until your heart’s content in August and close it before the end of the month and not be billed any further. This works out very nicely if you have a lot you want to sell in a short period of time, or if you have a few items, but they are high dollar items. FWIW

  107. Goat says

    First time ever sending for grading . My dad ( got me started from the mint in 1985 but never graded coins happy with what received ) and I bought the max . I sent in 6 Truman Reverse one 68 and the rest 69 ( guess I don’t know ( but teaching my kids ) coins but will learn school of hard knocks ). Also felt to send in some late MOD dimes of dad and I , ( 3 reverse 69 ) ( 4 (w) proofs 3 @70 one @ 69) Made our day not totally wrong but mostly wrong. LOL. Still a good day glad that he is still with me in my adventure . Young son thinks of new ways feels good to see smile on my dad and see grandkids progress .
    My best advise is never miss I Love You to your parents. Life is short .The reason I say this is I lost my Mother In Law ( believe it or not she was the best ) this past week , that was a a true person ! Some of us have been blessed with a good parents in up bringing . Thanks to those who got us here and will help us beyond.

  108. Jerry Diekmann says

    fmtransmitter – people get hanged; pictures get hung; but some people who drink too much get hung over!

  109. Jerry Diekmann says

    Just wondering – I thought I heard that there would be a Reagan C&C set next year, and that there would be no C&C sets “honoring” Nixon and Ford, probably because there is nothing for which they deserve to be honored. Nixon gave us Watergate and Ford gave us Cheney & Rumsfeld. So there will be just 3 Presidential dollars next year for #37, #38, and #40 (Carter was #39 but he is still alive)? Will that FINALLY be the end of this inglorious series? Half of the “honorees” never deserved to be on any coin, maybe a token or medal, but certainly not a coin with a stated value. If you study American history you will probably agree with me. I always thought we should be honoring great men (and women) and not the offices they may have occupied, more than a few by sheer accident. Two major exceptions would have been Teddy Roosevelt and Harry Truman, both now well respected by historians.

  110. GoldFishin says

    @Goat- thanks so much for sharing! Sounds like you have all the hard stuff all figured out. Too many folks never get there and don’t take time to enjoy the small moments. My mother passed away of ovarian cancer nearly 20 years ago now. I am almost as old now as she was when I lost her. At the time she had three young grandchildren all three years old, only separated by 6 months. One of them was my son. She wanted so much to live to see them grow up, but it just didn’t work out that way. I still have the Nolan Ryan commemorative silver coin she bought me as a gift when he pitched his 7th no hitter She was probably the most responsible for me enjoying coins. She would bring me Indian and Wheat pennies home from the bank where she worked. I still have almost all of them sealed up in wax. I also collect fairly high grade mercury dimes because they remind me of when she used to save them in a big plastic porky pig bank for us children. Oh, well, getting late, thanks again for the memories, yours and mine. Cheers!

  111. Goat says

    Carter will live forever thru Habit For Humanity ! My hats off to sweat of the brow not that ” I’m suit and tie only ” . For what he was ( how ever people view him ) and for what he has given , the honor must be given . How many Pres.. have struck a hammer in the behalf of the common folk ? IMO

  112. Blair J. Tobler says

    Jerry Diekmann – the following was in an article on the Numismatic News website that confirms what you thought:
    “On June 4, Tom Jurkowsky, director of the Mint’s office of corporate communications, confirmed there will be a reverse proof Presidential dollar in the 2016 Reagan Presidential Coin and Chronicles set. There will not be Nixon and Ford reverse proof Presidential dollar coin in 2016 or Presidential Coin and Chronicles sets for them.”

  113. Goat says

    hammer in the behalf ? Maybe hammer on the behalf . Your call but it’s all about the common folk.

  114. Hidalgo says

    More information about the 2015 American $1 Coin & Currency Set

    http://www.coinnews.net/2015/07/28/2015-american-1-coin-currency-set-product-information/

    Note: the product limitation is 90,000 sets (compared to last year’s 50,000 limit). Excerpts:

    Collectors can look forward to another unique coin, and a more interesting dollar bill in this year’s American $1 Coin & Currency Set, according to new product information from the United States Mint.

    Last year’s release included an uncirculated Series 2013 $1 Federal Reserve note printed for the Federal Reserve Bank of Kansas City. In another change, this year’s set has a Series 2013 $1 Federal Reserve note printed for the Federal Reserve Bank of New York. Additionally, describes the U.S. Mint, its serial number begins with “911” in honor of the Mohawk Ironworkers recovery efforts following the collapse of the World Trade Center twin towers in 2001.

    The U.S. Mint hasn’t yet published a product page for the set, which launches on Aug. 24, 2015 at noon EDT. Limits include a product restriction of 90,000, compared to last year’s 50,000 units, and a 5 per household ordering maximum. Its price at $14.95 is $1 more than last year’s set.

  115. merryxmasmrscrooge says

    If people are still buying so much silver, the economy must still be in the toilet. Finally everyone is wising up. Precious metals are more stable than stocks which are just speculation in the air. This stock bubbe is going to burst again sometime soon.

  116. MikeinPa says

    I have a off the wall question, i got a little lucky at the casino last night, and have $2,000 to invest, thinking of silver bullion, i know everything comes with risk, any thoughts, or maybe buy a nice St Gaudens?

  117. merryxmasmrscrooge says

    Notice how all the listed auctions are in the 2000s and 2010s. All rare coins before the millennium forgotten. Those prices will only go down to bullion once all these products with 50,000 mintage or less become increasingly common. With the net, 1,000,000 mintage has no special value anymore because everyone has a direct line to the rarities in this spider web. Before you really had to hunt for rarities, coin shows, old boxes of coins, my grandfather’s cigar box… Now even 5,000 mintage coin is easy to find.

  118. cagcrisp says

    @MikeinPa, I’m with thePhelps, St Gaudens all the way. I don’t know how old you are but I buy specific dates that correspond to either a birth year of a grandparent or maybe 100 years before a child was born…

  119. hw says

    The London Bullion Market Association Gold PM Fix: $1090.25.

    That means that the price of the Ultra High Relief gold coin should drop another $50 .

  120. thePhelps says

    It’s actually kind of sad to see all the announcements and changes in the upcoming releases – mintage limits – product disclosures etc… and we are stuck on week old news still being the topic of conversation here at MNB.

  121. Jayarejr says

    Jerry Diekmann doesn’t know his history. Gerald Ford pulled this country back together after Watergate. The crime was that he did not get elected President in his own right, giving us the low-brow Jimmie Carter instead.

  122. Jerry Diekmann says

    Jayarejr – Sorry, but I do know my history. Ford gave us Cheney and Rumsfeld and he pardoned Nixon, who deserved to go to prison. Ford OKed the Helsinki Accords, a moot issue now but back then they were considered a major diplomatic boost for the Soviet Union, due to the accord’s clauses on the inviolability of national frontiers and respect for territorial integrity, which were seen to consolidate the USSR’s territorial gains in Eastern Europe following the Second World War. If Ford had not pardoned Nixon, he most likely would have beaten Carter in thge 1976 election. Carter was not a very strong candidate and although I give him credit as a peacemaker, he failed pretty much in dealing with the domestic problems and the Iran histage saga. He was beaten very badly by Ronald Reagan in the 1980 election as a result of the stagflation and Iran controversy, two problems he just never could seem to get a handle on. Although the parties were different, Carter reminds me a lot of Hoover, basically a decent guy who was perceived as a failure as a President and was therefore swept out of office by a more dynamic and forceful speaker and leader, in this case, FDR. yes, i do know my history and Gerald Ford, like Richard Nixon before him and Jimmy Carter after him, was a very poor President, one of the weakest presidents in our country’s history. I suggest you re-read American history.

  123. Laura says

    To 6’9″ jerry diekman says from Laura from college: Your comments remind me of the you I knew.

Leave a Reply

Your email address will not be published. Required fields are marked *