US Mint: Error in Reporting 2020-S Proof American Silver Eagle Mintage

by Mike Unser on October 27, 2020 · 70 comments

US Mint 2020-S Proof American Silver Eagle coin, case and cert

U.S. Mint product images for its 2020-S Proof American Silver.

There is no mintage limit for the 2020-S Proof American Silver Eagle, the United States Mint confirmed in responding to a CoinNews inquiry about recent sales of the 1-ounce, .999 fine silver coin.

Released Oct. 13 for $73, the Silver Eagle’s online product page and press announcement had incorrectly stated its mintage limit (the maximum number of coins produced) at 200,000 units.

For some background, the coin’s ordering option turned off within days of its release, and then collectors discovered that more than 217,000 had sold.

"In the case of the American Eagle 2020 One Ounce Silver Proof Coin (S), the product mintage was 200K but mintage limit of 200K was an error in reporting. It did not reflect the Bulk packs (17,600 units (440 trays of 40 coins) and the Limited Edition Silver Proof Set (50K)," U.S. Mint spokesman Michael White told CoinNews Oct. 26.

Originally, the Silver Eagle’s product page should have shown none for its mintage limit and 200,000 for its product limit (the number of units produced for an individual product or SKU).

White explained: "The mintage limit for the American Eagle 2020 One Ounce Silver Proof Coin (S) is typically listed as ‘None’, which allows us to build to demand based on the Master production schedule. This year due to COVID-19 and Plant Production capacity, a decision was made to conduct only one production run of 200K units for the individual American Eagle 2020 One Ounce Silver Proof Coin (S), limiting the production mintage to 200K but the mintage limit should not have been reported as 200K. We have corrected the Mintage Limit to list as None."

Overall sales of the collectible remain unchanged from a week ago at a combined 217,597 (199,997 individual coins + 440 bulk 40 packs).

The San Francisco Mint-struck silver dollar will also be included as one of several coins within the Mint’s 2020 Limited Edition Silver Proof Set. This set is scheduled to launch later this winter for $201.

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Christopher

So are they going to offer free returns to people who ordered the coins thinking that they were buying a limited item?

Zachary

Right? I want my money back.

Lee Erickson

You wish. Probably not.

Todd Gulley

Typical gov. Screwing little guy again

Mark Garretson

Exactly

Lee Erickson

Buyer beware.

Lee Erickson

Just be careful next year. They will put the same hype about the end of Era coins and beginning new designs for 2021 . Learn from what happened this year and don’t jump till you find someone to answer the questions that should have been asked this year. I did not do this this year and spent thousands . Will not get sucked into that next year! Guaranteed.!

Ally

Nope. $12 shipping back (with insurance) for 2 coins.

Patrick Herlihy

The US Mint has a liberal return policy has long has its sent back in the condition received. I’ve never had a return problem

KEVIN W STONE

It’s not right for people to buy something that was supposed to be limited and find out that’s not the case (false advertising)

Vincent Bulgarino Jr

False info lies

Chris

LOL I love it! All those idiots buying and selling for and arm and a leg gonna be stuck with them! Now on Nov 5th the site will crash for the 75th Privy anniversary too. Just you wait!

Richard Valliere

I’ve been saying this (site crash for collectors) since they were announced at 75,000. Add this insult to injury: Dealers (scalpers) will get a major % of the fulfilled orders.

Bill Biedenstein

What A TOTAL DISAPPOINTMENT. Finally a coin that a normal
Collector could get…….and then 200,000 was a mistake. STOP
MINTING AND BACK UP What Your advertising stated. It’s that Simple.

Stewart

Wait till the “colorized Privy Error” makes an appearance? This was once a favorite hobby of mine. Crazy and sad decline.

Lee Erickson

Disappointment always can wane the next fling to a fizzle.
Which will be in 2021, which will still be harboring covid -19 as an undermining source to the reasons why mistakes happen. Sad but true. .

Lee Erickson

Yup covid-19 crisis everywhere. Shortage of staff. Mistakes happen . No big deal.

Zachary

I can empathise with this statement, but believe you me: if I make a mistake on my tax returns the govt is not going to give me a pass.

G Olivier

Are you being serious or sarcastic ? Because yes is a very big deal if your making an investment or just bought 1 for your collection, it matters, I spent thousands on my order and mistakes happen? No, if you make a mistake on your taxes you pay a penalty , so this mistake cost a lot of good people money. This is what the mint had in part of the description of the 2020 S Proof, ” Serious collectors, this is a once in a lifetime opportunity to complete your collection with the last of this inaugural design minted… Read more »

Vincent Bulgarino Jr

I agree we should get a special coin offered to only the 200,000 orig people that bought and should be FREE TO PROVE GOV MAKES MISTAKES AND SHOULD ALSO PAY. WHAT KIND OF GOV WE HAVE DO WHAT WE SAY BUT WE AS A GOVERNMENT DON’T HAVE TO PAY FOR ANYTHING MISTAKES LIKE TAKING COVID-19 CHARGING EXTRA MONEY FOR LIES THAT WHERE TOLD BY GOV MAKING US SPEND MORE FOR A LIE. IS THIS HOW GOV WANTS TO SHOW PEOPLE HOW TO RIP THE NEXT GUY. IF THEY DON’T DO SOMETHING FOR THE FIRST 200,000 THEN THE GOV SHOWS HOW… Read more »

Rodney Moore

Does the people that run the US Mint understand that many people buy mint products as an investment? And that if they devalue the the products that many people will stop buying from them? Selling old stock that should have been destroyed – like the 2016 silver eagles that was sold years later after being taken of the market- seriously devalues the ones that were bought to re-sale later. Stating a relatively low mintage (given the situation of it SUPPOSEDLY being the last of its kind) and then selling 67,000 extra ones seriously devalues the coin. People were misled if… Read more »

Chas. Barber

MAnagment care of Trump Industries it seems…..

Cougarrand

Naw, 67,000 more no big deal. We already knew there would be more in the “set”. And the “set” is always overpriced, in my view. Have some real fun, and go chase down some colonial Spain four and eight escudos. My fav is Charles III “rat nose”.

Charles

So, what’s the problem? You got coins ordered, right? Unlike last year’s reverse proof that only dealers and few others could break through the website crash that kept us peons from ordering as soon as sales began. Maybe you can sell quickly for $3000 like last year’s thieves. I canceled my mint subscriptions after that fiasco.

Chas. Barber

I am shocked, shocked the Mint made a mistake that caused big sales & a ‘selllout’ of a limited item they are making more of!!! How about some 1955 double die re-strikes?

raphaelo

If for any reason within 7 days of receiving your product you are dissatisfied with your purchase, you can return the entire product for refund. Shipping charges will not be refunded for all returns.I did get a refund on shipping charges when I returned damaged coins and disputed charges on my credit card. Note that since there was an error in the mints original listing one can fight the charges via their credit card for that wording (Max 200K) was part of the sales agreement and it doesn’t cost anything to try.

domenic

It took 2 WEEKS to discover this???? What a CROC! EVERYONE who purchased the coin bought it under the assumption it would have a 200K limit…..EVERYONE! Not only does this fall under mis-management it falls under false advertising! Any other business would be called on to rectify the situation somehow. and an investigation how such a blunder could have been made in the first place!.If ANYTHING the mint should roll back the price on the coin to pre-price hike for those coins already purchased. SOMETHING…..not that it will stop me from being pissed off!. Where is the damage control on… Read more »

domenic

OH, and to add to my rant…the website still states “last of inaugural design” Which is clearly not the case as it will be issued in the first half of 2021 with old design.

Rodney Moore

I’m pretty upset with the Mint myself right now, but in fairness to the mint, I think the “last of the inaugural design” refers to proof coins, and possibly only referring to “S” proof coins.
One has to really parse the Mints language to figure out what the situation is. But even then, sometimes the information is flat out wrong.

James

3 times price of silver, what a rip.

Rodney Moore

I’m thinking about writing another complaint letter to the Director about these latest mistakes. Although when I wrote to him about the November Silver Eagle release of the artificial rarity they created I was basically told that the Mint had not made a mistake and knew what they were doing. I wonder who we have that we can turn to in the Government to complain about this? Our state Senators? Does anyone know which Senators and/or state Representatives are coin collectors themselves and who might be more willing to help? I think we should be vocal about this and complain… Read more »

Tom

“Unlimited production” also allows the Mint to overproduce and sell excess to chosen dealers at discounted rates.

Vincent Bulgarino Jr

I feel that we paid more because it’s limited amount and go over that we should let’s say a quarter made at 200,000 runs that might have something that has that limit. Please feel free to leave comments and let them know the way we feel and won’t be robbed by government again. Ty stay safe.

William Beech

I got only one, I always get a proof and didn’t change this year. I only go crazy for the real special strikes like the 99 rev proof 30k limit. Got 5 sold 3 and kept one with the signature and one unopened.

Richard Margolis

How did you get 5 when the limit was 1/family or address?

kevinh

I don’t think there was a household limit on this item.

William Beech

I just saw 2 go on eBay for 120 ea. Some people are 2 stupid to be given a bank card.

G Olivier

This is a straight up false advertising plan and simple, and if I did the same thing I would charged with a felony, and when you purchase a product under contract and fail to comply with your part of the contract it makes it void and either money is refunded at once or the merchant can be charged for a fraud case and that is a felony. Would you or myself if done the same thing they now have done would just say sorry Uncle Sam it was just a mistake? You either break the law or you don’t? In… Read more »

Stan shaw

Once again the U.S. mint

kevinh

Between the many recent pricing increases, ongoing issues giving accurate information, website issues with major releases and quality control issues the US Mint will not only not attract new collectors, but will steadily erode it’s customer base. I purchased two of these on the basis of there being a 200,000 mintage, also purchased more of the other ASE issues based on 2020 being the last year of the design. Now, some of the 2021 ASE will have the same design. I want to be able to return the extra S mint eagle postage paid, and will not trust in the… Read more »

Cedric Reyes

What? The government over inflating its currency? That’s unheard of… lol

Seth Riesling

Write or e-mail the person responsible for all these U.S. Mint problems – Trump appointed & Senate-approved U.S. Mint Director David J. Ryder in Washington, D.C. at Mint headquarters.
Let him know what it feels like to be screwed by a U.S. government bureau!

NumisdudeTX

Cougarrand

Roger that !

Cougarrand

When I read the “fine print”, it reads that they are only going to do one production run of 200,000 coins. Plus the 17K “flat packs” (whatever that is), plus the 50K that will later go in the silver proof set. So I count a total mintage of 267,000?. Correct ? (Unless, of course, they decide to do another production run. Which right now, late in the year, seems unlikely.). Somebody please straighten me out on this? Or affirm it ? I was slow on the draw, but ordered a PF70 PCGS from a retailer. Which I would prefer anyway.… Read more »

kevinh

I’m at 267,608. 200,000 (actually 200,008 by USM sales numbers)+50,000+17600 (440×40). Unless they sell more since 200,008 is already above the stated product limit.

Pete

This is a major disappointment and false declaration by the Mint. They sure know that many people purchased because it was indeed a limited mintage, and I was one of those people! But for those of you wanting to return and get a refund, be warned, I’ve received a defective palladium eagle from the Mint, and waiting 4 weeks now for the refund since the return of the item, and they have yet to process it, let alone actually issued, and that’s $3K. I’ve opened a case with my bank to force it back from them; it’s amazing they have… Read more »

Last edited 27 days ago by Pete
A. Johnson

Same for me on the palladium. I was told the returned coin was “in quarantine”! Why would an OBJECT like a coin need to be quarantined?

morgan

Who got the the Bulk packs (17,600 units (440 trays of 40 coins)? Did anyone see they were available for purchase from the Mint?

Richard Valliere

As if I haven’t had my eyes opened again (mistake vs intentionally misleading) I need more education: (68y/o & still learning) What are the “Bulk packs – 440 trays of 40 coins? And BTW, how can anyone be surprised (huffing & puffing) here after 2019 S Enhanced Proof ASE fiasco debacle?

Richard Valliere

Update Reply: as of 10-25-20 – the SKU of the 440 trays of 40 coins, 20EM040 (US Mint document) – adj. net demand = 440….Search Results – Products Found (0). Who got them (no record of them being on the website) – Dealers. So morgan, you brought up a ‘swept under the rug’ point. Kudos!

G Olivier

These were for Dealers 440 trays of 40 coins each tray, so they went to dealers, 17,600 coins +199,997+ another 50,000 coins for 2020 special edition limited Silver set 50,000? , so that equals 267,597 American Eagle 1 OZ Proof coins, if you believe the Mint? How can we now. Any coin with a limited amount doesn’t mean a thing at all, anymore or never truly did, the one thing that I have liked doing is collecting coins, what a let down big time.

kevinh

And the USM own production and sales numbers now show 200,008 for the single coin with a stated product limit of 200,000.

Pete Smith

I’m going to melt mine down just to relieve the headaches it’s given me. I know it’s illegal – fu(k it.

Richard Valliere

Folks, folks! A mistake yes. And if you are a major $ investor, a big mistake. I bought one under the auspice of 200,000 units, and that was exactly the production of the ‘individual units’. Collectors, like myself, don’t live and breathe on the mintage of 200,000, or 217,000 (or whatever the amount might be) to include being in a ‘set’. Naivety before buying is like telling a police officer you didn’t know the speed limit when caught speeding. This article educated me. Learning is part of the game, even when you’ve been collecting for 40+ years. Numismatics is a… Read more »

vadim

WOW!

Chris

What I love is on EBay presale for the gold 75 th anniversary privy selling for 7500 dollars already I love people. So money hungry coin not even out yet and pre selling it!

sam tweedy

Rick Tomaska aka Mr.Ebay will surely get his share to flip!!! There’s a sucker born every day!!!

Pete

How are these flippers pre-selling on 300% premium, without assurance that they’ll be actual able to obtain one. We all know the MINT website will crash, and only the lucky few will get it, or maybe unlucky few, the palladium eagle was a major flop, and the only winner in this one was the US mint.

c_q

because on ebay if you sell something you can’t deliver, you can just cancel the transaction, so long as you don’t do that a lot of times there’s no penalty imposed. so the seller is banking on getting one from the mint, or more likely they have contracted with people to buy it at a fixed premium (say 50%) and thus can still make easy money with low risk. ebay should have rules about not listing things that aren’t even publicly available yet, but they don’t, or they should impose a fee for cancelling items such as this.

Jeff Reynolds

I dont want mine anymore either. screwed!!

Vincent Bulgarino Jr

Well I also bought a $25 Raddium 1 oz coins run of 10,000 and the S Silver dollar and yes feel bad they maybe made 20,000 more is not going to affect price enough for you to return. Well if it was the coin a bought will only 10,000 where made if it was even 1 coin over I want some type of compaction.

sam tweedy

Here we go again, Whining “OLD LADIES” get a grip and move on!!! YIKES!!!………LOL

Dominic Paulo

This seems to be a total scam perpetrated by the mint-selling a coin with a stated mintage limit and then having it turn out that was a false claim-this leaves me very leery about trusting the mints figures going forward!!

Mike

I talked to my local coin dealer about the US mint and he told me the big coin dealers get first chance on the highly sought after coins.I told him the mint says it is not true my coin dealer is a small dealer and he told me the US mint is full of lies and full of s**t

James Smith

So the “error” in reporting directly affected the number of planchettes ordered … delivered … and struck? The San Francisco Mint would still be minting them now…if this story is correct…?

Ross

I Got my order in fast as lighting ! Thank God ! Thank You President Trump !

2370AA35-ED1F-4AE4-B3D3-194CF5897EB0.jpeg
joera

I’m sorry but President Trump did not have anything to do with your order. Don’t get me wrong because I’m not against the President at all. I got my order in quick also and I thank the US Mint and the USPS for that.

Yates

The U.S. mint seem to be nothing more then con men…my short lived Silver Eagle collecting has officially ended. Hope I can at least get my initial investment back as I bought only certified MS and PR70 coins.

kevinh

The USM is unreliable. Even the single item 20EM the USM shows in it’s production and sales numbers as 200,008 when the stated product limit was 200,000. I know it’s a very small difference, but it shows the USM numbers are unreliable. Where does the actual number minted come out?