Comments on: 2013-W Proof American Silver Eagle Coin Released

By: thePhelps

thePhelps — Mon, 28 Jan 2013 19:58:01 +0000

Keep in mind the “Proof” editions are truly collector pressings. Look at the history of the Mint and you will see that is why they even make them available. Yes, they have become more expensive these days, and are at a premium over a bullion coin, but are also easily sold for a premium as well. I admit I am not a huge fan of the markup – but – as mentioned if you look at the markup of the other mints – the RCM and Austrailian mints are selling out of their products rapidly after publishing the release info. Stick to bullion if your wanting just the silver – but I actually enjoy the proof coinage and will pay the bit extra. The bullion will resale at the market rate for silver, and many of the proof releases will resale at quite a bit more than the initial investment.

By: Shawn

Shawn — Mon, 28 Jan 2013 13:47:30 +0000

Except that the Mint operates in a “market”. When you price coins around the world, proofs are generating large premiums to spot. The Mint realizes this and keeping in mind how popular the eagle remains, prices according to what it can earn.
They aren’t in it to benefit collectors. New Zealand, Canadadian, Australian proofs go for $100 a pop on a regular basis. 1/2 oz coins go for $40 to $60.
The premium is being set by demand and as long as they sellout proofs, the price will only go up.
On the plus side, even with ridiculous mintages, the eagle still maintains an excellent price/value. Look what happened to pandas when the increased the mintage limits: no more sellouts. Soon, the premiums will fall as well.

By: RonnieBGood

RonnieBGood — Mon, 28 Jan 2013 01:12:10 +0000

Proof coins are die struck 2 to 3 times to achieve the “Proof” look vs 1 die strike for the uncirculated or bullion coins. The Dies must also be replaced and polished more often. While these are additional manufacturing operations / processes they do not warrent the premium price that the Mint has been charging for the Proof ASE.

By: Shawn

Shawn — Sun, 27 Jan 2013 13:53:09 +0000

Newbie,
For bullion purchases, try http://www.providentmetals.com or http://www.tulving.com (for large purchases). Your local coin shop can be a good source as well. For coin collections, always use reputable dealers that have been in place. They can provide good advice and confidence for your purchases.
If buying gold, buy small denominations (1oz or less coins or bars), there has been isolated cases of fakes in larger bars.
Good luck.

By: thePhelps

thePhelps — Sat, 26 Jan 2013 13:58:24 +0000

newbie – the proof releases are collector editions. Typically a pressing that is more refined and polished than an uncirculated coin. You are looking for bullion releases if your interest is strictly in silver. I would suggest you visit a reseller and purchase from them. If you decide to collect coins, a good place to start your education is to purchase a 2013 redbook and check coin values, a proof coin resells at a higher value than pure bullion because of the quality of the coin, not the value of the silver. (I know I am generalizing).

By: newbie

newbie — Sat, 26 Jan 2013 03:10:49 +0000

1. I’m with Kevin above me. “Yes, I got a few. But what justification is there for such a high premium over spot?”

2. I don’t understand the markup? I’m not a coin collector.

3. I want to buy silver, but am unsure whom to trust.

By: Homer

Homer — Fri, 25 Jan 2013 19:40:09 +0000

Thanks Shawn! It would really be nice to see 2 unique coins in that set. The month of open ordering is good. However, I miss the excitement of trying to be one of the ones to get my orden in for a limited product. They should still do that every so often. Maybe do a few a year and only let people get their order
in for one a year so that different collectors have a chance to get something that has some added value. Then it would be a little more challenging to complete a set.

By: Joe

Joe — Fri, 25 Jan 2013 18:37:51 +0000

Why such a big difference of $9.00 for the proof and uncirculated Silver Eagle collector coins. The mint should have charged $58.45 for the proof and $58.55 for the uncirculated.

By: Terry Power

Terry Power — Fri, 25 Jan 2013 13:33:04 +0000

John – go to ebay and search “silver eagle reverse proof”. You’ll find a bunch of them. They’re really cool looking and collectors snap them up…

By: jim

jim — Fri, 25 Jan 2013 04:14:01 +0000

RBG – Right, the Mint has a way to go. But things are a-changing. We got a full year product schedule – with anticipated prices no less. Also some 2012 coins have been taken off the block before some people might have thought they would be. I get the distinct impression that Dep Dir Peterson is no longer in charge and that Sec Geithner is reviewing/has reviewed Mint practices and made some decisions that Peterson was afraid to or couldn’t. Give the Mint some time for changes to take place and show they mean it. Too bad Geithner or somebody hasn’t published (have they?) a paper describing the Mint’s direction vis-a-vis the collector community and how long coins or sets (non-commemoratives) may be available for sale. Maybe that’s something Bibiana Boerio will do once she’s confirmed.