Comments on: 30th Anniversary 2016-W Uncirculated American Silver Eagle Release (Updated)

By: Ken T

Ken T — Tue, 06 Dec 2016 02:48:15 +0000

RonnieBGood—
The 2016 w burnished silver eagle is 130% more than the 2006 W burnished silver eagle (more than double).
The reality is that the 1-ounce .9993 planchet has only gone up by less than 20% over the last decade.

By: RonnieBGood

RonnieBGood — Tue, 06 Dec 2016 00:15:08 +0000

Ken T,
You are not accounting for 10 years of inflation, that has run at an average of 3% a year. That’s 30% (not including 10 years of compounding inflation).

By: joera

joera — Sun, 04 Dec 2016 11:54:58 +0000

I bought the 2016-W Proof in PCGS PR70. It’s too bad you can’t even see the edge lettering! Seems like the grading companies should have come out with a slab for this “edge lettering.”

By: Seth Riesling

Seth Riesling — Sat, 03 Dec 2016 09:28:23 +0000

Ken T. –

The FAST Act of December 2015 gives the Mint the option to strike silver coins in any fineness of at least .900 & up to .9999 fine silver. The Mint is in the process of getting government bids for .999 fine silver blank planchets, but it is a long process & may not be completed in time for 2017. But, the Mint has wanted this option for years now since .900 fine silver planchets are not used by hardly any other world Mint & cost extra to have custom made by private vendors.

-NumisDudeTX

By: Ken T

Ken T — Sat, 03 Dec 2016 05:28:10 +0000

Seth–
I believe the legislation that gave us these plain-edged “30th Anniversary” collectible silver eagles also gives the mint the discretion to mint next year’s silver proof sets on .999 silver planchets (as opposed to today’s .900 silver planchet).
Have you heard anything about next year’s silver proof sets (I believe they are going to be 10 piece next year).

By: Richard

Richard — Fri, 02 Dec 2016 21:35:08 +0000

No Sacagawea dollar coin & currency set for next year? It wasn’t on the list.

By: Seth Riesling

Seth Riesling — Fri, 02 Dec 2016 21:11:13 +0000

Ken T. –

You make a great point on these silver coins with such a high markup. The Mint has a pricing grid for gold & platinum coins which is “fair” but has never had a similar pricing grid for their silver coins & products that contain silver coins. That is a totally unfair practice as they price gouge us on silver.

Happy collecting!

-NumisDudeTX

By: Ken T

Ken T — Fri, 02 Dec 2016 19:16:45 +0000

Michael,
I believe the mintage may not be so massive. The mintage the last three years have been well below 250,000. I can’t see more demand releasing this in December at a $28 premium. I will probably be buying these for $40 on Ebay in 2017.

By: michael

michael — Fri, 02 Dec 2016 16:27:16 +0000

Ken T – as a rookie in coin collecting, this is one of my concerns. The mintage will be massive and they will all be 69 or 70. What is the intrinsic value that requires a 170% mark up over silver cost. It’s quite different than paying $700 for a 1921 peace dollar MS 63/64.

By: Ken T

Ken T — Fri, 02 Dec 2016 05:08:06 +0000

Ten years ago today, silver closed at $13.97 an ounce. The upcoming 2006 w burnished eagle was priced at $19.95 ($5.98 over spot).
Today, silver closed at $16.48 an ounce with the new 2016 w burnished eagle priced at $44.95 ($28.47 over spot).
Small wonder why the numismatic hobby is slowly dying.