US Mint Statement on Erroneous American Silver Eagle Information

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Most bullion American Silver Eagles are struck at the U.S. Mint facility in West Point. Some come from the Philadelphia and San Francisco Mints.

2017 American Eagle Silver Bullion Coins
CoinNews photo of investor-grade 2017 American Eagle Silver Bullion Coins. They are generally available from bullion and coin dealers for a small premium above their melt value.

Unlike companion proof and uncirculated editions, bullion coins lack mint marks to denote where they are made — frustrating collectors’ desires to own complete Silver Eagle collections by year and minting facility or potentially focusing on those that are scarcer.

Following a Coin World Freedom of Information Act (FOIA) request in March, an identification workaround seemed to have appeared with the U.S. Mint releasing manufacturing tracking numbers that were used on bullion Silver Eagle shipping boxes. However, according to a U.S. Mint press statement delivered to media editors on Friday, May 26, some of their March information was erroneous.

The United States Mint statement follows:

"By way of background, while most American Eagle silver bullion coins have been minted at the West Point Mint, to meet demand the United States Mint (Mint) has sometimes produced these coins at the Philadelphia and San Francisco Mint facilities.

It is important to note that the Mint offers bullion coins through Authorized Purchasers to provide investors the opportunity to acquire precious metal coins at a slight premium to spot market prices. As such, all Mint silver bullion coins are, by their very nature, homogeneous. None of these coins bears a mint mark designating the facility where it was produced. The Mint’s goal is to ensure that the American Eagle silver bullion coins struck at any of these three facilities are identical and indistinguishable from one another.

On March 20, 2017, in response to a request made pursuant to the Freedom of Information Act, the Mint released internal manufacturing tracking numbers used on the boxes that contain American Eagle silver bullion coins that are shipped to Authorized Purchasers. It has come to the Mint’s attention that some of the information that was released on March 20 was erroneous.

The erroneous information released on March 20, as well as confusion surrounding the Mint’s use of internal manufacturing tracking numbers — specifically those connected with American Eagle silver bullion coins — has resulted in a mistaken belief that some of these coins are rarities.

The internal manufacturing tracking numbers on these boxes support the Mint’s quality control program and were not intended for the public to rely on to establish which Mint facility produced the silver bullion coins.

The Mint will provide new information regarding these coins by the end of June."

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Richard

So bullion coins that are intended to be nothing more than silver “rounds” can be slabbed to show non-existent mint marks based on the box numbers they came in? This sounds a bit over the top.

Bruce Doc Smith

They have been slabbed. Denoted as 2nd rarest ASE to date. Sold for $1,000’s in MS70 & $500+ in MS69. See presentations @ Coin Collector HSN Show with Mike Mezack. Buyer Beware!!

Michael A Sharpe

Now the Mint is screwing with the Numismatic Industry. So many mint Directors either Hated or Loved Collectors. So now we have Fraudulent Coinage. What’s a Dealer to do Now

John Harris

Well said Richard, I’m With you on this one

joera

If I understand this right this could cause a problem. A BIG PROBLEM! Some dealers were selling some of the bullions as “rarities” from the Philadelphia Mint! The slab had a label with, “Struck at Philadelphia” and the year followed by (P), which now seems could be wrong! If some of the information was in error of where the bullions were struck then the bullions were not rarities at all.

Tinto

@Richard

I’m with you there! But then again it seems nothing is over the top with these TPG’s and the coin sellers esp. those on TV, so long as they can make a buck out of those willing to be fleeced.

Steve

How about all the collectors that paid crazy money for these. Who is going to reimburse all the money?

Stuart Wheeler

The United States Mint has now proved beyond a reasonable doubt that what they say to the public at large concerning their news releases cannot be taken as accurate by any means. This presents a bonafide problem for purchasers of Silver American Eagles slabbed with (P), (W), (S). Prices of said rarities will drop like a rock in a vacuum once the information printed on the slabs now mean nothing and are no different from raw bullion coins with no way to know what facility actually struck them. In other words, break the coins out of their slabs and count… Read more »

Samuel Davis

The mint released a limited amount of S-silver eagles this year & was on the phone to buy a couple. Surprise I couldn’t get one but coin dealers could. The mint has been ripping us off for year’s.

Randall stephens

I’m one of the suckers. I took the information as correct got all of the grades p-w-s coins. Guess i needed a reason to stop collecting. Now i found one. Big waste of $$$$$$

joera

Even though the news about this is out, some of these bullions are still being sold with the “Special Label” on eBay.

Seth Riesling

joera – For the second time in a month, Mike Mezack was selling them all on HSN live TV shopping show tonite. He sells the 2015-(P) in ANACS MS-69 for $599.95 & the ANACS MS-70 for $4599.95 & still is saying these are the “most historic coins in U.S. Mint history”! Very sad rip-off for sure. Of course, he didn’t mention that the Mint issued a press release saying their info on these coins was wrong & they are not rare. Coin World also published the press release to let collectors know these coins are worth about $40-$70 only! I… Read more »

Tinto

@Seth Riesling

Was Mike also selling coins holdered with the Reagan label ?? Or was that Coin Vault ?
Sad state for modern (after 1964) US coin collecting … the TPGs, the big buyers and the Mint seem to be working hand in glove …. all with the aim of ripping off the small fry buyer/collector

Sure glad I’m mostly out and basically looking to totally liquidate my small holding … and sure glad I never got into “collecting” the proof ASE since there will always be a hole in year 2009, courtesy of the inept US Mint ..

joera

Seth- I was wanting to know what Mike “Sold Out, Limited Edition” Mezack was doing with these. I’ll be recording his show tonight to hear his BS. I also read the press release Coin World published. I’m just wondering who is going to get the blame for this debacle, or error as the Mint put it? Or what is going to happen or come of this? I mean there are going to be some upset collectors who will be wanting to either return the over priced bullion or at least put the blame or point fingers at someone for this… Read more »

JB

When I first heard about the bullion ASE’s being minted in the other facilities I didn’t think much of it as I see slabbed bullion with the (P) or (S) which means absolutely nothing to me and most collectors as I know it. What would make these coins any different? After seeing what they wanted for graded specimens, I was glad I had no interest and could not see how they could possibly command the prices being asked for strait bullion coins. I was amazed as that it was almost no time at all from when the mint first announced… Read more »

Seth Riesling

Tinto – Michael Reagan (the adopted son of President Reagan & his first wife actress Jane Wyman) has signed PCGS labels over the years. He also has written the forward for a few editions of the American Silver Eagle book. He is a political pundit & knows how to make an extra buck on his father’s legacy since President Reagan signed the Liberty Coin Act of 1985 that started the AGE & ASE coin programs in 1986. I think you are lucky in a way getting out of the hobby to a large degree now. It is going downhill fast… Read more »

Tinto

Went on eBay just to see how much these hawkers were offering their “rare” 2015 (P) …. I see a pcgs MS70 BIN listed at $5,660 (5 hours left!!!) and another BIN at over $15,000 … this is getting sick …

joera

Edit on my post:
I just noticed something…. I meant: “2015 (P)” not “2017 (P)”

Mike

I have seen a lot over the years, this was turely one of kind. Wait what about the 10 1933 double eagles?? Different story same outcome. Will keep following the story!!

Joe Brown

They should have never been graded. The grading service should know better.

Kahoola

My understanding is that the grading services guarantee authenticity and will make up the difference if there is a discrepancy. Are they now on the hook if it turns out that their “struck at” designation is false?

gary

you can’t make this stuff up wow .buy the book before the coin,buy the coin not the slab. best advice i ever got!!

Ron

“TIME” is the Issue here, Here it is 2017, and still early in the year, and now we see the (P) Silver Eagles hitting the market, and from the year 2015 ? wow,I am glad I wait until all the huppla is said and done before I make a purchase like that, for a non-minted Silver Eagle that is spose to be from the Philly Mint. I say to myself why now and why this ? very odd goings on with the slabbed coins being from the (P) Mint. and the high price, with all this being the first time… Read more »

Bruce Doc Smith

Below is link to presentation from HSN’s Mike Mezack. He & frustration with Mint, plus other “problems with greed” in hobby has caused me to give up over 50 years of collecting joy. Luckily my knowledge saved me from losses, but I am angered at the amount of uninformed being burned.
https://youtu.be/gIko2Jd4BXE

Seth Riesling

Bruce Doc Smith –

I have long wanted to post a link to one of Mezack’s HSN Coin Collector TV shows to expose his many rip-offs, but I don’t know how to upload such a thing. Thank you for doing that so others can watch & see for themselves some of the unscrupulous tactics going on out there in tv land.

There are good, honest dealers out there if you ask around on coin forums like this one.

-NumisDudeTx

joera

Mike: “..they realized some of them looked different..”
U.S. Mint: “…identical and indistinguishable from one another.”
This is just one example of what he will say to make a sale. There is a long list of things he says that are not true.

Eddy R

Buy the. COIN. not the slab!!!

Carl

Another thing about Mike Mezack he can’t even get it right as to how many Silver American Eagle coins are in a mint tube. He says the tape inside the green monster box had 25, 25, 25 etc. but a green monster box has 25 mint tubes of 20 coins each. I have never bought anything from him and don’t intend to but watch just to see what he has an to listen what ‘tall tales’ he spins.

Senior

Two comments 1.Moderns Should Never Be Graded and Slabed. 2.As long as there are fish in the sea there will be fisherman with baited hooks.The collector you and I being the fish and guess who the fishermen are.Lets make it 3 NEVER purchase graded slabed Moderns.Dont stop collecting just use good judgement.Someone wrote earlier there are plenty of good sellers I believe it was (Seth) Keep collecting.

Chas Barber

PT Barnum would =be happy in order with 1) PCGS/NGC 2) MINT profiteering 3) Collectors looking to make big $ or fill a non existent hole…….modern slabs, only for silver $1 commems I get for $20 or under……

RonnieBGood

A shame that a truly “Made in the USA” hobby (US coins) has taken such hits lately.

It appears that the value of gold & silver modern coins going forward will be more influenced by $$ moves in precious metal.

Tinto

I’ve watched that Mike for amusement and I often see how he goes into this shaking and pointing routine … was that an attempt to physically distract one from looking closely at what the coin is really worth

joera

Senior-
You can thank Mike Mezack for the grading of modern coins. He says he is totally responsible for the grading of American Silver Eagles. He also says he started the whole “STRUCK AT ******* MINT” thing. In other words all the (P), (S) and (W) mint marks. Now I don’t know for sure if he is right and is responsible for the grading of modern coins but I do know that he has mentioned that it was all because of him and him alone.

Senior

Joera. I believe in the rule of. What goes around comes around. I believe one day the Rubber will hit the road.

unknown

have any 2015 monster box owners submitted their own FOIA request with the box serial number to request documentation from US Mint to verify mint of origin?
thanks

Bruce Doc Smith

I see for last 2 days HSN are selling these coins at a record rate with multiple presentations. Many more than usual. In fact just watched “today’s special” with more airings later today. Trying to unload as many as possible at EXTREME prices. Claiming rarist ASE to date. It saddens me to see this. Can the Mint put a stop to this, and Mike Mezack? Please!! I was unable to share this post to HSN. Buy the coin, not the slab. At $4,500 for 2015 MS 70’s (ANACS), think of the true rarities you can buy with that much. To… Read more »

Bruce Doc Smith

I found today’s, 6/11/2017, one of NINE airings today of HSN Coin Collector show c Mike Mezack, full one hour show via HSN YouTube channel. “Deal of day” the (P) mint ASE. Gotta stop watching, very frustrated with them. Wish I was able to air to warn customers somehow. Again this is full hour episode airing @ 11AM Pacific time. God Bless.

https://youtu.be/8LVcvvlB44A

bobby

I no a person that has every silver eagle monster box from 86 to now. with the mint straps still on them. he has several boxes of most years. just the bullion value is up there. he sends boxes to NGC & PCGS and gets the entire box graded. he has never sold a coin that I no off. if he cared about a registered set of eagles. I would believe he has 25 sets that would be amongst the best?. my point being is the 2015 straps don’t say Philadelphia . there is a magic marker P on the… Read more »

George Heird

Has anybody found out the true mintage of the 2017P and 2017S ?.. Are the coins true or real P And S ? It’s not Mike Mezack fault that his job requires him to shove that coin up your :@$# and call it an Enima. I hate to hear his hype also but he’s not selling to the true Numismatist. He selling to those that want to hear they have something that will go up in value. “” A golden egg”” lets say… My problem with that is they sell it now for what it would go up in value… Read more »

George Heird

And to all the little coin collectors that sell?? If you think for a minute that the US Mint will give you a chance to get in on a coin or set with say only 15-20,000 minted? You are so wrong. They have their millionaire buying bullion brokers taken care of first. No way will they give a little guy the chance.. And Bobby on june 27th comment. Pcgs and Ngc are in that game too. Theres no way your going to have a rare error or modern coin that they don’t have themselves and think they are going to… Read more »

bobby

There was a time when PCGS said the coin was a 70 you really had something. i would like to believe this is still true. if you wanted to try to build a set. NGC was the only chance of getting all 70s?. and you had to buy them already graded. you still do today sending some in yourself you’re wasting your money. you wont get 70s?. got one or two sometimes not often. not all 70s are created equal. I guess these TV shows serve a purpose if you no what your buying. I take a picture with my… Read more »

Gluggo

By Press Release , U.S. Mint Published : 06/30/17 “The Mint will make no attempt to “verify” the origin of any boxes using techniques related to tracking numbers, labels, or otherwise.” Well guess what ALL 3 grading companies have already graded thousands of these (P)’s and (S)’s from 2015, 2016 and 2017. With guarantees that they are genuine. I would say who is going to STOP THEM? Its to late they been bought and or being bought as I type this. Everybody is selling them MCM, PCE, B&E, on and on and on, and I don’t see the big 3… Read more »

bobby

if a coin is minted in P. it should get a P mint mark. or if came from a unopened box with proof that it came from there . put it on the slab. I no were a philly box is?. it has a P on it. PCGS or NGC will not put these coins in a P slab. I don’t understand this. either way they slab it its wrong. if they no it came from P and slab it with a W its wrong. I did read something saying these coins were shipped strait from the Philly mint to… Read more »

Gluggo

Bobby I am no expert but if you can get your hands on a known Philly green monster box for about 10K, I would do that and hold onto it. If you know where one is maybe these clowns will figure this mess out. I have never sent in a coin to get graded that tells you how much I know. But from what I hear is you have to send the whole green box in with all the labels and straps on them. Even now they might not want to grade them since they have been grading so many… Read more »

bobby

I have been told that NGC will grade the sealed monster boxes?. it has been known that the U.S.Mint uses other mints to supply the demand for one type of eagle. and sold as from one mint. even though the straps are unmarked it appears they no the difference of were the coins were minted from the straps. if this is true the 2015-16 & 17P will continue to be recognized. I was told this and have no idea how this is going to work out. if this is true . I no of several monster boxes from these years… Read more »

joera

I can not believe these are STILL being sold as 2015 (P) FOR HUNDREDS, as 69s, AND EVEN THOUSANDS FOR THE 70s!! And the way I understood not even the 2016 or 2017 can be verified as (P) OR (S). Like someone said, “WHO IS GOING TO STOP THIS?” I’m not sure but I think I read somewhere that one of the grading companies, or maybe more, were not going to continue to grade these as (P) or (S). But then I see Mike Mezack selling sets of these as 2017 (P), (S) AND (W)!! I could be wrong on… Read more »

bobby

this is what I am told. big buyers buy directly from the mint and ship these coins straight to the grading services. this is how the phillys exist. the grading services are correct to put a P on the slab if it came straight from that mint. I think you could do the same thing?. once it leaves the mint unmarked and goes to a someone’s house. the grading services no longer recognize the different mint because the straps are blank. I think just as we are talking about this today. many others are having the same discussion. and the… Read more »

bobby

just a question about these eagles . west point boxes have W.P. straps on them. San Francisco eagles came out in special package’s . were did the blank strap boxes come from.

gs

Blank straps now? I know someone who has a box with US Mint printed on it. Blank straps is scary. Maybe it is full of lead blanks.

bobby

there eagles. they have a P in magic marker on the boxes blank straps. these are the boxes I have been talking about.

gs

If the sealed box has blank straps that might mean that someone got a hold of the box and swapped the contents and then sealed it with blank straps. Unless the Mint does in fact use blank straps. Maybe better to open the box or find out if any US Mint uses blank straps! See, it does not matter what is written on outside of box if someone swapped the contents and sealed it with blank seals.