Weighing the costs for the 2017 Limited Edition Silver Proof Set and American Liberty Four-Medal Set

In the past few days, the Mint has posted retail prices for its next two product releases: the 2017 Limited Edition Silver Proof Set (LESPS) and the 2017 American Liberty Four-Medal Set.

First up is the LESPS (product code 17RC), which will be available for purchase at noon on October 5, 2017. Containing this year’s Kennedy half dollar, Roosevelt dime, American Eagle silver 1-ounce coin, and five America the Beautiful quarters, the sets are priced at $139.95.

Coins in the 2017 Limited Edition Silver Proof Set (17RC).

The Limited Edition Silver Proof Sets tend not to fly off the shelves. They face strong competition for collector attention with the reliable and popular annual Proof Sets and Silver Proof Sets, as well as the clad and silver ATB quarters Proof sets. The LESPS contains the same coins as the $52.95 Silver Proof Set (less the cent, nickel, and dollar), plus the $53.95 American Eagle 1-ounce silver Proof coin. Those items purchased separately add up to $107.90, which means the buyer is paying $32.05 to get the silver coins in a single plastic case (or “lens”). It’s no surprise that, although the 2016 set was released last November, more than 4,000 of the 50,000 max are still available.

The 2017 Limited Edition Silver Proof Set, however, is likely to sell out fairly quickly, for one simple reason: its American Eagle silver Proof coin is from the San Francisco Mint rather than the traditional West Point issue. Produced this year only, in honor of the Mint’s 225th anniversary, the S-Mint ASE coins have made one other appearance: in the 2017 Congratulations Set, whose 75,000 product limit sold out within two minutes of their release. (The stand-alone 2017 ASE Proof coin is from West Point.)

The S-mintmark on the back of the silver Eagle in the 2017 Congratulations Set caused an instant sell-out of a product that normally attracts little interest.

Naysayers shook their heads at the quick run-up in aftermarket prices, pointing to the fact that no one knew for sure just how many of the coins would be released later in the year. But once the LESPS product limit of 50,000 was announced, those who’d let their 2017 Congratulations Sets go for modest sums had reason to feel gloomy. The 74,898 in net Congratulations Set sales plus the maximum LESPS sales equal fewer than 125,000 of the 2017-S American Eagle silver Proofs. Among all the regular ASE Proofs, only one has a lower mintage: the 1995-W, at 30,125. The coin even made Whitman’s list of the 100 Greatest Modern U.S. Coins (and a PF-70 Ultra Cameo example sold for more than $14,000 in 2015).

No one is apt to see a $14,000 Congratulations Set anytime soon. Still, the sets have been selling on ebay for around $120, and high-graded versions regularly sell for $200 or more. In that light, $139.95 for this year’s LESPS suddenly looks more reasonable.

The four medals in the 2017 American Liberty set, with four different finishes and mintmarks.

The next item on the Mint’s calendar is the 2017 American Liberty Four-Medal Set (product code 17XD), which has been priced at $199.95. Each set consists of four 1-ounce silver medals, each with a unique finish and mintmark:

  • One Proof medal with the S mintmark (San Francisco)
  • One Reverse Proof medal with the P mintmark (Philadelphia)
  • One Uncirculated medal with the D mintmark (Denver)
  • One Enhanced Uncirculated medal with the W mintmark (West Point)

The four medals break down to $50 apiece, with a product limit of 50,000. For comparison, that’s about $10 cheaper than the single 2017-P Proof medal, (mintage unlimited, with close to 45,000 sold to date) and about $4 less than the 2017-W Proof ASE (mintage unlimited, with more than 310,000 sold to date).

Of the two products, the 2017 Limited Edition Silver Proof Set seems to have an edge with flippers, while the American Liberty medals are more apt to appeal to collectors who aim to hold on to them indefinitely. What do you think—is there value to be had in the last two silver sets of 2017?

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Comments

  1. KEITHSTER says

    Way to spendy but what can you do it’s a monopoly? Wait I suppose for the price to go down after there sold out but what fun is that? Well Good Luck All “>”> <"<"

  2. cagcrisp says

    Diana, you writing is getting more and more like Louis.

    IF I didn’t know better, I would have thought Louis wrote this article…

  3. Scott says

    Only an absolute fool would pay $14,000 for a 1995-W Silver Eagle when there are so many other truly rare coins that are available for that kind of money or less.

  4. John Q. Coinage says

    As Phil Gerrard said to Dr. Kimble, “I just don’t care” S mint ASE, 4 coin set of a MEDAL @ 2 1/2 time spot each….the mint needs to issue a new ad for director with a guy wearing a bandit’s mask! Mintage #’s matter, but as we old collectors go off into the great melting pot in the sky, no one will care in the long run, spot silver prices will rule in 10/20 years. Funny for the 225th Anniversayr they did not produce any coins like back in 1792, WTF….really a missed opportunity, silver center cents, Flowing Hair $1, $10 Lib ala 1794…no lets go the Jerry curl route……not thayt ther is anything wrong with that……pa$$

  5. cagcrisp says

    @John Q. Coinage, Any 1792 would have been welcome.

    225th Anniversary

    2017 – 225 = 1792

    Missed opportunity.

    You can’t blame this on Congress.

    The Mint, The CCAC , The CFA All could have done a ONE year 1792 Flowing Hair Gold coin and then in 2018 came out with their American Liberty Gold.

    Win, Win IF that would have happened.

    Now we have NO Flowing Hair and the 225 Gold Liberty will drag on into 2018.

    Net effect is a Complete Loss of whatever Sales would have happened for a TRUE 225th Anniversary coin…

  6. Raphael says

    I remember and have learned my lesson on medals. The 2003 NWRS Silver medals, Eagle 35k minted all others 25k minted. Today 14 years later on average; they are selling for less then their original issue purchase price on ebay. Years from now the 2017 American Liberty Four-Medal Set, price will be about the bid price for the American Silver Eagle for each piece, If not lower.

  7. Ryan says

    Speaking of overpriced and rare, I had to tell you guys I just ordered the Canadian 150th anniversary 5 kilo coin!!! Only 100 will be made, won’t ship till January but I’m excited!!

  8. Jerry Diekmann says

    Another missed opportunity by Congress and the Mint for a 225th anniversary of the U.S. Mint, is no commemorative coin for Alexander Hamilton, founder of the Mint and the first U.S. Secretary of the Treasury. Hamilton has NEVER appeared on a U.S. coin, whereas many other less important and/or influential people have been shown on coins (two of them on this year’s commemorative coins, for example, but there are many more).. And a double whammy to the Mint – they could have showcased a Hamilton coin with the very popular Broadway play “Hamilton”. I tell you, there is no one thinking very hard at the Mint. Is there anyone in charge there???

  9. Daveinswfl says

    Jerry D,

    Very insightful comments! Thanks for pointing that out. ANYONE at the mint awake? ANYONE?
    President Trump, PLEASE appoint a qualified mint director.

  10. cagcrisp says

    @ Jerry Diekmann says “the government deferred collecting income taxes but then charged those who reached retirement age the maximum ordinary tax rate – no capital gains treatment, even though stocks which made up most of the 401 (and 493b and 457) portfolios would normally receive lower capital gains tax rates. ”

    An exception to the maximum ordinary tax rate is IF you own “company stock” within a 401k. Most people do not either know or take advantage of this IRS rule.

    Most people roll over a 401k into an IRA or take a distribution on leaving a company. The IRS has a rule that CAN be very beneficial if you own “company stock” within the 401k.

    IF you transfer you 401k into a “taxable account” then the IRS only taxes “company stock” at its “cost basis” NOT “market value”.

    The difference between your “cost basis” and “market value” is IRS defined “net unrealized appreciation” (NUA). When you eventually sell your stock it will be taxed at long term capital gains rates at the stocks NUV.

    IF you have Highly Appreciated stock in a 401k you really need to look into the possibility of saving a Lot on taxes.

    The IRS is very strict so you must make sure you meet all the requirements…

  11. NcCoinCollector says

    It’s a no brainer – I will take two of each if I am lucky enough to get through website.
    My gut says medal set will sell out quickly too not despite of but because it is so controversial, unique and provocative. As the excellently written article points out family heirloom, Pry them from my cold, clutched , “Strong Hands” collectors will be coming for those.
    More objectively speaking sells of the no limit medal suggest enough interest for the set to go quick.

  12. Ryan says

    Our tax code is ridiculous and the sad thing is no one cares to do anything about it. If they have Social media , YouTube and weed that’s all they need to be content

  13. Numismatrix says

    I’m planning on one set of the LESPS and the Medals – just to say I have relative rarities in the collection. I’ve often dreamed of owning a 1995-W ASE – I did have a chance to buy the original Mint offering in 1995 but passed thinking it wasn’t interesting. I was young (and foolish) and did have the money!

    RE IRA/401 : I was just thinking to a few (8) years ago when, after scraping and saving, I put all of my IRA funds into a home purchase. I paid the tax penalty. This was the best decision I made – the home is paid off and has doubled in value. I doubt I would have done better if I had kept the IRAs.

  14. Mike in NY says

    I’m planning on picking up 2 of each of these sets. I was fortunate to pick up 4 of the 2017 Congratulations sets from the mint before the quick sell out but would like to pick up a couple more Proof S ASE’s.

    After initially dismissing the 2017 Pd Eagle, I decided to pull the trigger and purchase a presale from SD Bullion yesterday. They seemed to have the lowest price at the time. Like many, I love the both the obverse and reverse. The fact that it is a high relief is also a major plus. I’m looking forward to it’s arrival sometime early next month.

  15. MarkInFlorida says

    Well, I got $880 for my Russian palladium, which is more than sellers have netted on Ebay after seller fees, so buying a US palladium at $1020 cost me $140 net. In the long run I probably won’t get it back, unless the low mintage makes it a winner, but I want the US coin much more than the Russian one, and will enjoy it more. And by the way, the Russian was bought many years ago for under $400, but the dealer traded me silver eagles (2001-2009) for it at $2 over spot (he just bought 5000 from someone who liquidated) so as a like-kind exchange the trade should not be taxable.

  16. Mintman says

    Well it appears that two of the big boys offering pre sale PCGS and NGC certified MS70 palladium coins are apparently sold out
    I grabbed one before they put up the sign

  17. samuel says

    they were “sold out” last Friday afternoon around 4:30PM.
    sometimes, they take coins off the shelf during weekends. who knows whats going to happen over nights?
    and, dealer A, already increased the price by $30.

  18. says

    Been away for awhile but read some posts on the uncertainty of the mintage of the palladium american eagle….it is 15,000. This may be old news to you guys now, but I like this mintage limit. I will probably buy a MS70, jusst to have one. But, I hate that palladium is at historical highs…but who knows what the future may bring….anyone else buying?
    Again, sorry if this is old news, but if been in the hospital for two weeks and am behind what has been said. Thanks for your patience with me.

  19. says

    Just pulled the trigger on a NGC MS70 palladium eagle from APMEX….yes, MCM shows sold out on all their pcgs and ngc ms 70’s.
    Again, I just got back in the loop today and learned about the 15,000 mintage limit…..then when I saw MCM was already sold out of ms70’s, decided to go ahead and and by from APMEX….they could also sell out of 70’S soon, so I didn’t want to miss out.

    I will also be in for two each of the LEPSset and the 4 coin American Liberty set as I already have the gold. I got a decent price for a PCGS FDOI PR69 for $1555.00

  20. Tony says

    Was thinking about the palladium american eagle but the 4th Queen’s Beast Unicorn 1 oz.gold is also available. I’m leaning toward the QB since i already have the other three.

  21. KML in KY says

    Looks like APMEX is out of MS70 Pd’s now too. Even though I really don’t need to spend the money right now I was about to buy a PCGS MS70 FS but I guess I’m too late. Congratulations to those who got one. They’re beautiful coins and 70’s will probably at least hold their value if not increase.

    I don’t want a 69 or an uncertified coin. All 69’s are pretty much losers and I don’t want a raw coin that I cannot easily return if defective.

    I will try for the LESP’s and will get 1 set of the Liberty Silver Medals. I hope everyone who wants the LESP’s is able to get them. They should go pretty quickly but not quite as fast as the Congrats Sets.

  22. cagcrisp says

    APMEX had 1 PCGS 70 and 5 NGC 70 last night.

    …SO…It’s not like they had a ton of inventory.

    They moved 161 raw in 6 days.

    Still plenty at APMEX and JM Bullion…

  23. says

    I’m glad I went ahead and bought an NGC MS70 Early Release from APMEX last night

    However, if only raw coins and ms69’s were available, I would opt for the graded ms69.

    Yes a raw coin is cheaper, but I think if you ever plan to sell. a graded coin would be easier to get rid of.

    As for the ms70 I bought….well I bought it to keep it….I don’t sell this as a coin to flip, it could very well be $200 cheaper a year from now….or $200 more.
    I just think this is a classic example of buy what you want. I see this as a long term investment with plenty of risk..so just hold on to it imo.

  24. says

    I would think that a lot of the future value of the MS70 Palladium Eagle would be dependent upon if we see a Proof Palladium Eagle in ’18, just a thought.

  25. data dave says

    Has anyone seen that September sales of the 2017 Silver eagle are only at 125K through the end of last week.? September sales of the Gold eagles are at about the same level as August.

    Considering the total yearly sales are about 16M, we are probably looking at lowest sales since 2008 (20.6M) of this product.

  26. Louis says

    The brisk sales of MS70 palladium eagles is interesting given that no one at the point has any idea of how they will grade and how common or scarce coins of that grade may be.

  27. Tom says

    Premium over spot is less than what it would be from the Mint. Also, a fairly low mintage is another plus. But….and just my opinion, I believe most dealers will be very cautious about buying this type of medal unless they can get rid of it quick.

  28. says

    Thanks samual…I see they also jacked up their price. Palladium spot is about the same…1$ lower than last night.
    I paid $1278….now they are asking about $1295…..so I don’t know what to do. I think I already overpaid for the one I bought, and will pass on this higher price

  29. Ryan says

    @Steve

    I don’t think that we’re coming to a perminant high plateau. Platinum group metals tend to do poorly in recessions and I believe that we’re due. I think the only way palladium prices go significantly higher than where we are now is if we see Russia stop exporting to us or if a miracle breakthrough in cold fusion using palladium happens. If those things don’t happen I think we will have a recession sometime in the next two years and we should see the price of palladium fall back to its price of $200-$300 dollars.

    http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

  30. says

    samual…good deal…like I said I was in the hospital and had no idea about what was going on with these.

    Off topic….I recently bought 3 of the Canadian Niagara Falls coin….it contains 10 oz of silver
    and has a mintage of only 15,000. I paid around $188 for them….really a beautiful coin.
    The reverse shows a couple with their arms around each other while sitting on a peak, while overlooking the falls. I bought one for my girlfriend, as it is a very romantic scene

  31. says

    Ryan, thanks for your response….what about gold, silver and platinum….do you think they are headed the same way…..if you do, I respectfully disagree…..too many unknown factors to make such predictions…imho

  32. Ryan says

    I personally think gold and silver have more upside than PGM, my PGM of choice is rhodium. Far more upside but it should only be used as a speculative investment, not a store of wealth like gold and silver.

  33. cagcrisp says

    AM Gold fix $1,295.50

    PM Gold fix $1,293.30

    None of this matters IF North Korea stays in the headlines…

  34. Mike in NY says

    I purchased a raw Pd Eagle. I was tempted to pay the additional for a 70 but I will wait to see what happens over the coming months. Depending on Pd spot, it may be possible to pick up a 70 for much less.

  35. mimi0011 says

    OT- Important info first … the 2017 1oz American Palladium Eagle PCGS MS-70 First Strike Black Label available now on APMEX. Only 6 left.

    I used to post a lot a couple of years ago. I forgot my old screenname though so ya’ll probably won’t remember me. I’ve been about 2 years out of the coin game, but am back with this Palladium Eagle offering.

    I LOVE it. A first year of issue, 70 grade on a Mint State coin, even if it’s technically bullion, should be a nice coin to sit on for 5-10 years. The only downside to this play, aside from lack of demand and falling spot price, would be a burnished coin coming out. I think it will hold though and appreciate over the years.

    It is becoming increasingly clear the APs have NO CLUE what the coins will grade like and are restricting the MS-70 sales to a few at a time. Add to that the limiting of the initial mintage (15,000?). First Strikes should appreciate a bit better than other MS-70s based on prior sales of First Strikes. Registry collectors do love these labels for the registries.

    Has there been any confirmation on the initial mintage number from official sources? The only place I saw 15,000 was on SDBullion’s website.

  36. Hidalgo says

    I may have missed it, but no one has mentioned that the US Mint has limited the number of 2017 Limited Edition Silver Proof Set s to 2 per customer. That means that most people who order fairly quickly will be able to get at least a set. As a result, demand for the 2017 S American Silver Eagle should drop.

    Considering that the 2017 S American Silver Eagle offered in the Congratulations Set is currently going for about $120 for the coin only, it doesn’t take a genius to decide to buy the 2017 LESPS with eight coins for $140, than the 2017 Congratulations Set with one coin for $120.

    Will the 2017 Congratulations Set with the 2017 S American Silver Eagle hold its value? I seriously question it. As more secondary dealers flood the market, prices will fall.

  37. achmed says

    @Hidalgo: Yes, you have missed it. The demand for the ASE 2017S will not drop as the mintage for this coin alltogether will be 125000. And for your info: When you order one LESPS you pay 2,95 Dollar extra to the usmint plus the shipping costs (17,90 Dollar to Germany) plus 1% extra when you pay with creditcard plus 19% VAT plus 12,50 Euro to United Parcel Services.
    the set will be a bit cheaper (average) when I order two sets as the shipping costs will be split. But with a household limit of two sets I will not buy them as the average price is too high. I am glad I bought some of the congratulations sets 2017.

  38. earthling says

    If you want to hop on board the latest speculative vehicle then sorry looks like you missed the boat. That boat set sail long ago and is now headed back to the docks . It might even crash into the docks… according to some “experts”. ( talking about crypto junk )

    I’ve personally been trying to break my addiction to US Mint product for some time now. With this Pd Eagle I struggled a bit but in the end I’ve beat the urge.

    For those that gave in, well you got a cool Coin out of the deal. It’s not like the aftereffects of a gambling illness where you’re left with nothing. Been there done that gig. Still got to battle that monster from time to time.

  39. NcCoinCollector says

    I missed out on the Congratualtions set. Silver Eagles are immensely popular. If I have an opportunity to get a low mintage proof I should; is my reasoning.
    As for the medal, you guys are right. Trump and Mnuchin will be putting black ladies on medals, coinage and cash as much as they can so it’s not unique. Indeed, there is so much love for Black Liberty and Black citizens excercising their rights right now it’s hard not to see the next several issues from the mint focusing exclusively on blackness and freedom. The US will embrace it – just like Obama was loved and embraced.

  40. Numismatrix says

    I do like the Pd coin design but will not make the
    purchase since it is a prosaic bullion offering with
    a high 15K mintage. I truly would have liked the
    Mint to make a Silver Medal equivalent for this offering –
    sales would go ballistic IMHO.

  41. Louis says

    That 15K figure may not be right after all. CoinNews says the sales “opened” at 15K, meaning the USM has received orders for that amount from the AP’s. But to me opened suggests there could be more sales. Not sure what they based that on since the Mint has not added this to their bullion sales online.

  42. says

    @mini0011…yeah, but apmex has added a $50 premium for their “exclusive black label “…well, to me…that dog don’t hunt

  43. cagcrisp says

    @Louis,the mints website has shown sales numbers of 15,000 for over two hours.

    It’s listed on the bullion sales …

  44. KCSO says

    I bet’cha dollars to donuts that the mint is assessing overall demand in the next couple of days and will make available more of the Pd BU coins or call it SO, once they agree to the number that they will offer as PROOF.

    My money is that we’ll now see a PROOF Palladium Eagle in 2018.., mintage will be number of planchettes remaining after 15,000 struck one depart out over the next two weeks.

    I’d like to see a Proof Palladium Eagle have a mintage of about 5,000.

  45. Numismatrix says

    IMHO a proof will have more gravitas intrinsic
    to the design, irrelevant to the mintage.
    Pd simply does not have the “wow”
    factor of Ag and Au – time honored PMs.

  46. Mintman says

    First year MS70 coin is the one to risk it on—-you’ve got the value in the grade as well as the metal
    If it was raw, I would have probably waited

  47. Louis says

    I think they will sell more than 15K bullion. The proof has already been announced for 2018, that is a done deal, but of course not the mintage. But it won’t be 5K. They know from the marketing study that there is more demand for a proof.

  48. KCSO says

    “Pd simply does not have the “wow”
    factor of Ag and Au – time honored PMs.”

    – I beg to differ that I’ll feel that way when I get this beauty in hand.
    We’ll see..,

    If MNB desires real Hi-Res photos when this puppy arrives, I’l be glad to forward via Cag.

  49. Jerry Diekmann says

    cagcrisp – good point about “company stock” that I was not aware of. Having worked for a public transportation authority for over 30 years, I was not aware of the special treatment for company stock, because as a government employee there was no such thing as company stock (yes, there was a pension, but zero medical insurance – if I had been hit by one of our buses as I crossed the street after my last day of work, the company would not have known me despite my years of service – that’s the way the insurance market works for so many people in this country, unfortunately). Your point about the IRS is right on target – you have to be very careful in how you handle any IRA conversions so you don’t get zapped by income taxes.

  50. Jerry Diekmann says

    With all this talk about proof 2017 silver eagles, does anyone remember ALL proof silver eagles from 1986 through 1992 were “S” mint coins? There is nothing all that special about “S” mint proof silver eagles, or for that matter, “W” proof silver eagles, if you exclude the 1995W coin, which was a novelty back then because at the time only Philadelphia was striking proof ASEs. since 2001 ALL ASEs have been “W” mint marks, except this year we’re back to an “S” mint mark. When you really think about it, it’s just a lot of contrived nonsense by the Mint, IMO.

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