2013 West Point Silver Eagle Set Sales End at 281,310

by Mike Unser on June 7, 2013 · 17 comments

Minutes ago, the United States Mint updated the sales odometer for its 2013 American Eagle West Point Two-Coin Silver Set.

Final Sales Odometer for 2013 West Point Silver Eagle Set

Image of the U.S. Mint’s final sales odometer reading found on the product page of 2013 West Point Silver Eagle Set

The new total reflects the last of the orders coming in before the set’s sales window closed for good on Thursday, June 6, at 5 p.m.

That total is 281,310, marking an increase of 29,615 from the previous number published. There’s a good chance this will be the only total known for several months, but it is likely to see some trimming down the road due to cancellations and returns.

If history repeats as it did for last year’s Silver Eagle Two-Coin Set from San Francisco, the U.S. Mint will offer one more sales update but only several months from now. Ordering ended for 2012 San Francisco Silver Eagle Set on July 5, 2012 with a final odometer reading of 251,302. It wasn’t until early December that the U.S. Mint felt comfortable offering an adjusted sales amount of 224,981, which was a sizable 26,321 drop from the one in July.

2013 American Eagle West Point Two-Coin Silver Set

U.S. Mint image of its Two-Coin Set from West Point

Today, the U.S. Mint indicates that it will start fulfilling orders for the West Point Silver Eagle Set on a first-in, first served basis. Shipping time frames begin in mid-June and may take until late September. Some customers will have several months to cancel their orders and that means October could be the earliest an adjusted, final sales total is available.

2013-W Enhanced Uncirculated American Silver Eagles

Photo of several enhanced uncirculated Silver Eagles from the West Point Mint

The 2013 American Eagle West Point Two-Coin Silver Set includes a reverse proof and an enhanced uncirculated Silver Eagle. The latter is a first as the methods to produce it were only developed this year.

{ 17 comments… read them below or add one }

Jack June 7, 2013 at 2:58 pm

Still a nice number! Set should go up in value nicely. Hopefully they don’t come up with an enhanced coin and currency set and ruin it all. Can’t wait to see them. Happy collecting!

Kevin June 7, 2013 at 3:24 pm

Perhaps they sold more than they thought they would since fulfillment will vary from this month to a few months away. I ordered a few the first day and a few on the last day. But only blame me for 5 of the many units sold in the final 24 hours. If they don’t meet my expectations I will still keep the first few I ordered and may return the last few. But leaning toward keeping all of them….

bubba June 7, 2013 at 5:30 pm

I am still wondering where all the Eagle collectors go when the 2 coin sets come out. 800,000 proof Eagles sell, but only roughly about 1/3rd that number of the the 2-coin sets are sold. I imagine a lot of people order more than 1 set as well. Likewise, a lot of sets will be sold on the secondary market.
The mintage seems fairly low considering there is a new Eagle in the set. The reverse proof family increased by 1 as well.

bubba June 7, 2013 at 5:32 pm

“Ordering ended for 2012 San Francisco Silver Eagle Set on July 5, 2012 with a final odometer reading of 251,302. It wasn’t until early December that the U.S. Mint felt comfortable offering an adjusted sales amount of 244,981, which was a sizable 26,321 drop from the one in July.”

Don’t you mean 224,981 as the undated total mintage?

Mike Unser June 7, 2013 at 5:40 pm

Thanks Bubba. The article was corrected with the final SF Mint set sales of 224,981.

SactoMike June 7, 2013 at 5:42 pm

The coins and their designs are outstanding, but I do not see much appreciation in the after market. Here’s why: first, the mintage of 281,000+ for an issue such as this is not rare. Especially considering that most of them that end up being slabbed will come in a MS69 and MS70. Secondly, the idea of reverse proofs several years ago was billed as unique. Unfortunately, they are anything but today.

Veteran coin collectors have seen this movie play before and know how it ends. In the October 1968 issue of COINage magazine, the lead story was this: “Three 1968 Coins that will Soar In Value.” The story ballyhooed the three S-Mint proof-only Dime, Quarter and Half Dollars as having the “rare” mintage of 3 million+. The story benchmarked these 3 coins with other rarities of similar mintage. As a result, 1968 Proof Sets went as high as $50 in the aftermarket; the half dollar itself as high as $15. But by the following summer, the word was out: not only would the 1969 sets contain the S mint mark, but all subsequent proof sets moving forward would also be of the S-mint, proof-only variety. Prices of those 1968 sets plummeted. In fact for more than 30 years collectors could actually buy the 1968 and 1969 sets for under the $5 issue price, given the depressed price of silver during most of those years.

So what the Mint is doing is essentially flooding the market with yearly “reverse proof” coins, and with the few that actually get slabbed as “First Strikes” (a very clever marketing ploy if I do say so myself), I don’t see much consistent upside for the majority of these coins.

My advice: wait six months and collectors will likely be able to snatch up these coins at below issue price – even the slabbed varieties.

jim June 7, 2013 at 5:58 pm

Collectors aren’t the only ones who buy the 800,000 proof eagles. If the numbers are comparable about 250,000 go to collectors and the remaining 550,000 go to friends and relatives as birthday gifts, wedding gifts, anniversary gifts, graduation gifts, etc. The proof silver eagle is a great relatively cheap gift for marking special events and most are probably bought by non-collectors. Maybe new collectors are born after receiving such a gift but I bet not.

Stuart Wheeler June 7, 2013 at 7:12 pm

So now we have reverse proofs of 2006, 2011, 2012 and 2013. Followed by the proofs of 1986-2008; 2010-to date. Regular burnished strikes of 2006-2008; 2011-to date. 2013’s enhanced mint state coin. The bullion strikes from 1986 to date. Did I forget the 1995-W proof and 2011-S Burnished Silver Eagles? I’ve lost count of all the different dates, mint marks and finishes. Slabbed coins, raw coins and OGP coins/sets. I’m getting very dizzy from all this silver eagle litany; so much so I’m going to lay down and die from lack of sleep over all these confusing issues the Mint has put us through. I’m too old for this nonsense. 100 years from now, we’ll all be dead in our graves. Will people remember us in 2113 for what we did to help humanity to better itself or, will they remember us only for the silver eagles we tucked away in our collections? Is this all that life is about? 70 years give or take and our existence comes to an end? For those who label themselves as Christians, what would Jesus do? All I know, life is too short.

Boz June 7, 2013 at 7:18 pm

Don’ t forget your ex can always cash then in at the laundrymat to do a load or two. They still have incredible buying power at face value,

RonnieBGood June 7, 2013 at 7:55 pm

The number Minted will drop as it did for the SF set. The reason is that purchaser’s may cancel their orders up to the last ship date. This date is now estimated to be in October, with final shipping to be prior to the holiday season. Many things can come up between now and the October ship date. For me, I had to cancel my order of 7. Just found out that I need to replace my roof. Life happens. :-/

george glazener June 8, 2013 at 8:24 am

Ronnie;
sorry to hear that dude. I’ve had lots of trouble with the roof too this year, which has caused me to have cash in many coins and collectibles. Good luck with the repairs.

John June 8, 2013 at 10:07 am

A year ago because of some wind damage, I was able to have my roof and siding replaced. It’s worth looking into and my help to save your coin collection from taking a hit.

steve1942 June 8, 2013 at 12:13 pm

I have every eagle made minus the 1995-W. I actually went all the way and bought this set in PR/SR70 First Release. This will probably be the end of my collecting days, I’m too old and have much too much money tied into my collection. As to future worth, these coins will stay rare only until the novelty wears off, then there will be a period of, say, 100 years before they again surface for profit. The only other way to not lose money is to hope that the precious metal market recovers. When all is said and done, coin collecting for profit is tied to the value of the metals (and/or age).

RonnieBGood June 10, 2013 at 12:07 pm

George and John – Thank you for the support. The Roof goes in this week.

steve1942 – The beauty of this hobby is both in the design of the coins and the ability of them to hold their value and increase in value with time. Perhaps what you say is partly true if you have only collected modern coins. But look at the Buffalo fractionals, the Ultra High Relief gold coins, the 3 coin gold 20th anniversary set for the Gold American Eagle and the Short set within the gold Spouse series. The key is to choose your purchases wisely.

steve1942 June 10, 2013 at 7:16 pm

Ronnie: I’m certainly not putting coin collecting down. I’m a member of NGC. Besides the Silver Libertys, I have multiple gold and platinum coins, new and old. My collection contains the UHR you mentioned, as well as the 2006 Buffalo. I own a slew of gold Indians and VAM Morgans. My point was directed toward those that collect to turn a profit. Not the ones that immediately sell (turn) the coins but those that hold them hoping that they will all increase in price. That will not happen, not immediately, that is. Profit in coins is, as I said, tied to either the price of metal or to the age of the coin (75 years, at least). A few will continue to grow in value but if you look at the coin census and see the number of perfect coins being graded, rarity is a thing of the past. Its nice to hear that you enjoy the artistry of coins, that alone makes collecting them worth while. Hopefully, other collectors will feel the same way and the hobby will grow. I’ve recently purchased a few Canadian coins, they do make a beautiful reverse. As beautiful as they are, I hope that our governments don’t get lost in the profit side of collecting. I’d hate to see them go the way of stamps. Until FDR made it known that he was a collector, there was a value in that hobby. After his term, the Post Office put out more stamps than could be counted. If a stamp, today, isn’t completely perfect, it’s worthless. I wonder how long it will be before we collectors start looking for coin grades that go beyond 70. I also wonder if we will ever realize that perfection is in the eye of the beholder. And, listen to me, I just bought this set in First Strike 70 and belong to NGC. So, all I can say is, enjoy your collection, you seem to like it for all the right reasons. Heck, I like my less expensive Kennedy Silvers as much as any.

homer June 11, 2013 at 8:38 pm

Buying some sets is a good way to save money with the possibility of profit in future. There are better ways to make money if you are looking for profit. Collecting should be about fun.

David June 12, 2013 at 12:36 am

The mintage seems fairly low considering there is a new Eagle in the set. The reverse proof family increased. Can’t wait to see them

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