Update on 2008-W Silver Eagle Reverse of 2007

The last time I wrote about the 2008-W Silver Eagle Reverse of 2007 Variety was nearly a month ago. At that time, the variety had only been confirmed for less than two weeks, but was already causing quite a stir.

As a brief recap, some of the 2008-W Burnished Silver Eagles available directly from the US Mint were struck using the reverse die type of 2007. The "Reverse of 2007" is most easily distinguished by the appearance of the "U" of "United States." The Reverse of 2007 will have a bowl shaped "U" while the Reverse of 2008 will have a spur on the right side of the letter.

Around the end of April, the US Mint provided an estimate of 47,000 as the total potential number of 2008-W Silver Eagles with the Reverse of 2007.

Prices from online dealers and eBay auctions were extremely volatile around this time. Many believed that prices were unsupportably high, although a case could also have been made for the opposite conclusion. For this previous analysis check out the post: 2008-W Silver Eagle Reverse of 2007 Mintage Estimate.

Since this time prices have increased. Based on a sampling of eBay auctions ended in the last 24 hours, current prices now seem to be around the following levels:

• Raw: approx. $540
• NGC MS 69: approx. $610
• NGC MS 70: approx. $950
• PCGS MS69 First Strike: approx. $750
• PCGS MS70 First Strike: over $3,000

The supply of 2008-W ASE Reverse of 2007 available on eBay seems to be relatively steady. At any given time there seem to be between 200 and 300 available for auction. Here's a look at the current eBay listings.

Can these price levels be sustained or even go higher? There seems to be a constant supply of the coins reaching the market, but at the same time a constant and growing demand. The American Silver Eagle is a highly popular and widely collected series. The variety has added an exciting new aspect to the 22 year old series.

At these prices, personally I wouldn't be a buyer, but then again I probably wouldn't have bought the 1995-W Proof Silver Eagle back in the days when it was going for $1,000.

---

Update: As requested, here are some figures on the total number of "Reverse of 2007" coins graded by the major third party grading services:

NGC's Online Census shows a total of 10,737 graded with Reverse of 2007. Of that amount, 5,067 received an MS 70 grade. (as of May 27)

PCGS's Online Population Report does not show any numbers yet, but a recent Coin World article stated 1,171 with Reverse of 2007 with only 121 in MS70. (as of May 14)

The CW article also included ANACS grading 1,986 with Reverse of 2007 with 789 in MS70. (as of May 14)

Total graded from all 3 services based on most recent data... 13,894

Related:
2008-W Silver Eagle Reverse of 2007 Discovered
2008-W Silver Eagle Reverse of 2007 Mintage
2008-W Burnished Silver Eagles Reverse of 2007

2008 Arizona State Quarter Rolls and Bags

2008 Arizona State Quarter Bags and Rolls will go on sale at the Mint on June 2, 2008 at 12:00 Noon ET.

Arizona is the third State Quarter released in 2008 and the 48th coin in the overall program.

Product options will include a Two-Roll Set, 100-Coin Bags, and 1,000-Coin Bags.

The Two-Roll Set includes one roll from the Philadelphia Mint and one roll from the Denver Mint. The rolls are in special US Mint wraps. Each set is priced at $32.95.

The 100-Coin Bags and 1,000 Coin Bags will be available for either Philadelphia or Denver Mint Coins. The 100-Coin Bags are priced at $32.95 and the 1,000-Coin Bags are priced at $309.95.

The Mint's product pages are now online, but sales options will not open until the official start date of sales.

Two Roll Set
100-Coin Bag Philadelphia
1,000-Coin Bag Philadelphia
100-Coin Bag Denver
1,000-Coin Bag Denver

Louisa Adams First Spouse Gold Pricing and Ordering

The US Mint has just released pricing and ordering information for the upcoming Louisa Adams First Spouse Coins.

As a brief recap, the Louisa Adams coin is the sixth coin in the First Spouse Gold series, and the second release for 2008. The coins contain one-half ounce of 24 karat gold and are available in proof and uncirculated versions. As previously posted, the coins will go on sale on May 29, 2008 at 12:00 Noon ET.

The newly released information includes pricing for the coins and ordering limits. The proof version of the coin is priced at $619.95 and the uncirculated version of the coin is priced at $599.95.

The Mint is placing an ordering limit of one coin per household for at least the first week of release. Total production of the coin will be limited to 40,000, with the amount divided between proof and uncirculated coins based on demand.

The US Mint's product pages are available here and here, although ordering will not be available until the specified release date.

The price levels match those of the previous coin in the series honoring Elizabeth Monroe. However, the final coin from 2007 honoring Dolley Madison is still available at the Mint at the lower issue prices of $529.95 and $509.95.

Related:
2007 & 2008 First Spouse Gold Mintage Figures
First Spouse Gold Coins

John Quincy Adams Individual Proof Coin

The John Qunicy Adams Individual Proof Coin will go on sale at the US Mint on May 29, 2008 at 12:00 Noon ET. This continues the individual proof coin offering for the Presidential Dollar series.

The coins are offered at $5.95 each. There is an ordering limit of five coins per household for the first 30 days of sales. The Mint's product page is available here.

The John Qunicy Adams Proof Coin has already been available from the Mint as part of a different offering. The 2008 Presidential Dollar Coin Proof Set contains proof versions of all four 2008 Presidential Dollars. The set is currently available for sale at $14.95 per set.

Perhaps more notably, the Louisa Adams First Spouse Gold Coins will also go on sale May 29, 2008. The Mint has still not released details on the pricing and ordering limits for the coins. The last two coins of the First Spouse Gold series have been priced s at different levels due to the fluctuating price of gold, so it will be interesting to see the price for the next coin of the series.

Platinum Eagles Sold Out and Suspended

Over the past few weeks, platinum has staged an impressive come back. Since the beginning of the month, the price of platinum has risen from a low of $1,850 per ounce to today's price of $2,142. The recent rise has caused suspensions and sell outs for some of the US Mint's platinum products.

On Friday, the US Mint suspended sales of the 2008 Platinum Eagle 4 Coin Proof Set. This set contains 1.85 ounces of platinum and was priced at $4,119.95. The sets just went on sale May 5, 2008, so the suspension comes after only two weeks. The individual proof options remain available for sale.

The remaining ordering options for the 2007-W Burnished Platinum Eagles are no longer available for sale. The one ounce and one-tenth ounce individual coins went back on sale at the Mint in early May, following a long suspension. These now appear to be sold out, since the product pages state "Product Not Available" rather than the precious metals related suspension message.

Will 2008 be a repeat of last years perpetual suspensions and repricings? Global supply and demand indicators still seem to be aligned in that direction. As mentioned in Coin Update, Johnson Matthey recently released their 2008 Platinum Report. According to the report, demand exceeded supply by 480,000 ounces for 2007. In their outlook they predicted a continued deficit for 2008. The full report can be found here.

Mint News Blog Mintage Summary

As the Mint transitions from 2007 to 2008 precious metals product offerings, I spent several posts reviewing the last known sales figures for related products. This included Silver Eagles, Gold Eagles, Platinum Eagles, and First Spouse Gold Coins.

This post will summarize all of the sales figures from this series. You can bookmark or refer to this page for a quick window to the rest of the post.

The figures for 2007 products should not change significantly since most of these products are no longer available for sale. The 2008 products will continue to change as sales continue. I will update the links below to the most recent posts, but keep in mind that figures are only accurate as of the date of the post.

It should also be noted that the figures included in the posts are the last reported sales figures and may not represent the final mintages. However, since the Mint can sometimes take years before releasing final mintage numbers, these will probably be the best figures available for a while.

2007 Proof Silver Eagle Mintage
2008 Proof Silver Eagle Mintage
2006-W Burnished Silver Eagle Mintage
2007-W Burnished Silver Eagle Mintage
2008-W Burnished Silver Eagle Mintage
2008-W Silver Eagle Reverse of 2007 Mintage Estimate

2007 Proof Gold Eagle Mintage
2008 Proof Gold Eagle Mintage
2007-W Burnished Gold Eagle Mintage
2008-W Burnished Gold Eagle Mintage

2007 Proof Platinum Eagle Mintage
2008 Proof Platinum Eagle Mintage
2006-W Burnished Platinum Eagle Mintage
2007-W Burnished Platinum Eagle Mintage
2008-W Burnished Platinum Eagle Mintage

2008-W Uncirculated and Proof Gold Buffalo Mintage

2007-2009 First Spouse Gold Mintage

2007 & 2008 First Spouse Gold Mintage Figures

This is the last in a series posts dedicated to reviewing the latest available sales figures for the Mint's 2007 and 2008 precious metals related products.

Today, we take a look at the First Spouse Gold Coin Series. This series began in 2007 with much excitement. The first two coins released in the series honored Martha Washington and Abigail Adams. They sold out their maximum authorized mintages of 40,000 coins within the first day of offering.

The next coin offered was the Thomas Jefferson's Liberty coin. Due to the quick sell outs of the first two issues, the Mint instated a strict limit of one coin per household. Despite the limit, coins still sold out within the first day of sales.

The final coin of 2007 honored Dolley Madison and unfortunately did not fare as well as the previous coins. The coin did not sell out and remains available sale at the Mint. The first release of 2008 honors Elizabeth Monroe. Sales for this coin have been even slower.

There are several reasons behind the decline in popularity that I have discussed in other posts. Summarized briefly:

• The Mint raised the price of the Madison and Monroe coins by nearly $100 and $200 each in response to the rising price of gold. This may have put the coin out of reach for some collectors.
  
• Two coins of the series are available for sale at the Mint, but at prices $90 apart. This surely acts as a disincentive to purchase the more expensive coin.
• The prices for the prior sold out coins in the series started to decline on the secondary market. Premiums declined so much that one company decided to melt their First Spouse Coins.
• The natural tendency for a series to lose the interest of collectors over time.
  

The table below shows the last updated sales figures for the 2007 and 2008 First Spouse Gold Coins.

2007 & 2008 First Spouse Gold Sales Figures

	Unc	Proof
2007 Martha Washington	20,000	20,000
2007 Abigail Adams	20,000	20,000
2007 Thomas Jefferson	20,000	20,000
2007 Dolley Madison	11,139	17,471
2008 Elizabeth Monroe	3,884	6,623

There are some interesting observations to come out of these figures.

First, the figures for the first three sold out coins may not reflect the actual availability of the coins. We know that at least 5,000 - 7,000 of the coins were melted based on an article from Coin World. In the long term, this may eventually start to have an impact on availability and prices.

Second, if the trend for lower and lower mintages continues, a situation may eventually occur where the mintage is so low that the coins increase significantly in value once they are no longer available from the Mint. The most well known occurrence of this is the 1997-W Jackie Robinson Coin. The uncirculated version of the coin had a mintage of only 5,174 and now sells for over $4,000 due to its incredible scarcity. Definitely something to keep in mind now that the series has stepped out of the limelight.

2007 & 2008 Proof Gold Eagle Mintage Figures

Another post to continue the recap of the latest sales figures for the Mint's 2007 and 2008 precious metals products...

Today we take a look at another popular, long running product, the Proof Gold Eagle. Each year the Mint places maximum production limits for each fractional denomination. Sales usually reach or come fairly close to sell out levels. For 2007, a few of the individual options remained below maximum levels, although the 4 coin set did attain the max.

Sales of the 2008 Proof Gold Eagles began on March 4, 2008. Sales seemed to start off strongly, but have now slowed down. The underlying reason for the slow down is surely the decline in the price of gold. Gold peaked shortly after the release above $1,000 and has since fallen as low as $850. Despite this decline, the Mint has maintained their initial pricing which is surely putting a damper on sales.

The two tables below show the last known sales figures for the 2007 and 2008 Proof Gold Eagles. The 2007 figure is from the last published figures from Numismaster. The 2008 figure is from Numismaster's May 7 report.

2007 Proof Gold Eagle Sales Figures

	Product	Combined
1 Ounce	17,819	53,618
1/2 Ounce	9,599	45,398
1/4 Ounce	12,881	48,680
1/10 Ounce	25,942	61,741
4 Coin Set	35,799	N/A

2008 Proof Gold Eagle Sales Figures

	Product	Combined
1 Ounce	7,504	12,724
1/2 Ounce	1,483	6,703
1/4 Ounce	2,214	7,434
1/10 Ounce	4,180	9,400
4 Coin Set	5,220	N/A

Related:
2007-W & 2008-W Burnished Gold Eagle
Mint News Blog Mintage Summary

2007 & 2008 Proof Silver Eagle Mintage Figures

Another post in the continuing series recapping the latest sales figures for some of the Mint's 2007 and 2008 precious metals related products.

Today we take a look at one of the Mint's most popular products, the Proof Silver Eagle. These are beautiful, affordable proof coins for a widely collected series. In recent years, the Mint has been selling these coins based on demand without a maximum sales limit. This fact combined with the popularity of the series have kept mintages high and secondary market premiums low.

Sales of the 2007 Proof Silver Eagles ended earlier this year in January when sales of the 2008 coins began. The mintage for 2007 looks like it will fall relatively in line with recent years. Sales of 2008 coins look to be stronger than usual, likely due to the attention garnered from silver's impressive rise early in the year.

The table below shows the last known sales figures for the 2007 and 2008 Proof Silver Eagles. The 2007 figure is from the last published figures from Numismaster. The 2008 figure is from Numismaster's May 7 report.

Proof Silver Eagle Sales Figures

2007 Proof Silver Eagles	827,106
2008 Proof Silver Eagles	546,765

For comparison purposes, check out prior years Proof Silver Eagle Mintages.

Related:
2006-W, 2007-W, 2008-W Burnished Silver Eagles
Mint News Blog Mintage Summary

John Quincy Adams Dollar Bags and Rolls

2008 John Qunicy Adams Dollar Bags and Rolls will go on sale at the Mint later this week on May 15, 2008 at 12:00 Noon ET.

This will mark the sixth release of the Presidential Dollar Program and the second release for this year.

Coins will be available from the Mint in 25-coin rolls or 250-coin bags. The 25-coin rolls will be available with coins struck from either the Philadelphia or Denver mint and are priced at $35.95 per roll. The 250-coin bags are also available with either Philadelphia or Denver mint coins and are priced at $319.95 per bag.

The Mint's product pages are already available, although ordering options will not be available until sales officially begin.

25-Coin Roll Philadelphia
25-Coin Roll Denver
250-Coin Bag Philadelphia
250-Coin Bag Denver

2007-W & 2008-W Burnished Silver Eagle Mintage Figures

The ongoing recap of the most recently published sales figures for some the Mint's 2007 and 2008 precious metals products continues.

Today we take a look at the 2007-W & 2008-W Burnished Silver Eagles. These are collectible versions of the bullion coins offered directly by the Mint. The coins are struck on burnished blanks and carry the "W" mint mark. Figures included below come from the last published sales figures from Numismaster.

The 2007-W Burnished Silver Eagles sold out at the Mint near the end of February. However, the coins are still for sale as part of the 2007 Annual Uncirculated Dollar Coin Set. The product page on the US Mint's website can be found here. Sales of the coin were relatively high compared to last year, when the smaller mintage caught many by surprise.

2007-W Burnished Silver Eagles Sales Figures

Single Coin	563,711
2007 Unc Dollar Coin Set	83,763

The 2008-W Burnished Silver Eagles went on sale at the US Mint in mid-March. Sales have been relatively strong despite a sharp drop in the price of silver. Contributing factors may include coins ordered in lieu of the regular bullion 2008 Silver Eagles which have been in short supply. Also coins may have been purchased in larger numbers in order to search for the 2008-W Silver Eagle Reverse of 2007 Variety. In July, the US Mint will release the 2008 Annual Uncirculated Dollar Set, which should also include the 2008-W Unc Silver Eagle.

2008-W Burnished Silver Eagles Sales Figures

Single Coin

262,753

For comparison purposes mintage figures for the 2006-W Burnished Silver Eagles are included below. The coin was offered as a single option and was also included in two different 20th Anniversary Sets. Contributing factors to the lower mintage were the short sales period and an unexpected sell out of the single coin option before year end.

2006-W Burnished Silver Eagles Sales Figures

Single Coin	200,000
20th Anniv Silver Set	250,000
20th Anniv Gold & Silver Set	20,000

Related:
2007 & 2008 Proof Silver Eagle Mintages
Mint News Blog Mintage Summary

2007-W Burnished Platinum Eagle Mintage Figures

Back to the ongoing recap of the most recently published sales figures for some the Mint's 2007 and 2008 precious metals products.

Today I will take a look at the figures for the 2007-W Burnished Platinum Eagles. These are the special collectible versions of the bullion coins that are offered directly from the Mint. They are struck on specially burnished blanks and carry the "W" mint mark. The "Burnished Eagles" generally have lower mintages than their bullion counterparts.

The table below contains the most recently published sales figures from Mint Stats of April 17, 2008. At the time of writing this post, the 1 ounce and 1/10 ounce coins are actually back on sale at the Mint. The other options appear to be sold out.

2007-W Burnished Platinum Eagle Sales Figures

	Individual	Combined
1 Ounce	1,753	4,425
1/2 Ounce	1,258	3,930
1/4 Ounce	1,228	3,900
1/10 Ounce	3,111	5,783
4 Coin Set	2,672

For comparison purposes, here are some unofficial "final" mintage numbers for the 2006-W Burnished Platinum Eagles.

2006-W Burnished Platinum Eagle Mintage Figures

	Individual	Combined
1 Ounce	1,079	3,068
1/2 Ounce	588	2,577
1/4 Ounce	687	2,676
1/10 Ounce	1,555	3,544
4 Coin Set	1,989

Last year's shockingly low mintage figures attracted a lot of attention and resulted in an immediate increase in prices on the secondary market. Are the 2007 figures low enough to warrant a similar price increase? The 1/2 ounce and 1/4 ounce versions look to have the most potential.

Related:
2007 Proof Platinum Eagle Mintages
Mint News Blog Mintage Summary
Platinum Eagle Coins

Presidential Dollar Historical Signature Set - John Adams

The Mint will release the John Adams Presidential Dollar Coin Historical Signature Set on May 13, 2008 at 12:00 Noon ET. The product page for the offering is already available on the Mint's website here.

This set is the second release of this new offering. The first release honoring George Washington first went on sale April 8, 2008 and is still available for sale. According to the latest Mint Stats from Numismaster, it has sold 8,830 units.

The Historical Signature Set series features the proof version of the Presidential Dollar Coin, a special Presidential intaglio print, and the official Presidential signature. These come housed in a textured leather like folder along with a certificate of authenticity.

2007-W Burnished Platinum Eagles Back on Sale

At long last, the Mint has put the remaining 2007-W Burnished Platinum Eagle coins back up for sale on its website.

As mentioned previously in this blog, these coins have spent nearly all of 2008 under suspension as the price of platinum spiked and then entered a period of extreme volatility.

Only two product options are shown available- the one ounce coin and the one-tenth ounce coin. The full product catalog page can be found here.

Prices have been adjusted upwards from the prior levels to account for the increased market value of the platinum content. The one ounce coins are priced at $2,189.95 compared to the prior price of $1,869.95. The one-tenth ounce coins are priced at $244.95 compared to the prior price of $229.95.

Notably, it seems that the one-half ounce and one-quarter coins coins will not be making a comeback. The product pages simply state "Product is not available." These two coins had the lowest mintages of the 2007-W Burnished Platinum Eagles. I'll be taking a look at those figures, along with a comparison to 2006 figures tomorrow. Stay tuned!

Related:
Will 2007-W Burnished Platinum Eagles Go Back on Sale?
Burnished Platinum Eagles

2008 New Mexico First Day Cover on Sale May 8

The 2008 New Mexico Official First Day Coin Cover will go on sale at the US Mint tomorrow May 8, 2008 at 12:00 Noon ET. The product page is already available here.

The cover will include two 2008 New Mexico State Quarters, one each from the Philadelphia and Denver Mints, along with a 41 cent American Flag postage stamp. The cover will have a postmark of April 8, 2008 from Zia Pueblo, NM.

The covers are priced at $14.95 and production is limited to 35,000.

This marks the 47th State in the State Quarter First Day Coin Cover Series.

2007 Proof Platinum Eagle Mintage Figures

This post will resume the brief series of posts recapping sales figures for some 2007 and 2008 precious metals related products. Now that sales of the 2008 Proof Platinum Eagle Coins have begun, it's a good time to look at the most recent sales figures for the 2007 Coins.

During 2007, sales of the 2007 Proof Platinum Eagles were suspended on numerous occasions as the price of platinum rose steadily. For most of 2008, the coins were not available at all, as the Mint either could not establish a new price or decided not try during some extreme price volatility. As a result, the coins were only available intermittently, sometime for very brief windows, and continually at different premiums above the value of the platinum content.

These factors contributed to the relatively low sales figures shown below. Figures come from the most recent Mint Stats from Numismaster.

2007 Proof Platinum Eagle Mintage Figures
1 ounce	4,966
1/2 ounce	1,543
1/4 ounce	1,522
1/10 ounce	3,662
4 coin set	4,302

Update: I forgot to mention the 2007 10th Anniversary Platinum Eagle Set. These sets each contain 1/2 ounce Proof Platinum Eagle and 1/2 ounce Reverse Proof Platinum Eagle. The sales figure as of May 7, 2008 is 17,817.

Related:
2006-W & 2007-W Burnished Platinum Eagle Mintages
Mint News Blog Mintage Summary

Saint Gaudens Ultra High Relief Update

Late last week, the US Mint provided an update on the proposed recreation of August Saint-Gaudens' Ultra High Relief Gold Double Eagle. Treasury Secretary Hank Paulson has now authorized the issuance of the coin along with some details of the production specifications. The Mint's press release can be found here.

• Coins will be minted in 24 karat gold.
• Coins will have a business strike finish.
• Diameter will be 27 millimeters. This smaller diameter will make the coins more than 50% thicker than other US Mint one ounce 24 karat gold coins.
  
• Only 2009 Coins will be minted.
• Coins will go on sale in early 2009, although sales may continue into 2010 if there is remaining inventory.
  

The release also discussed some modern elements that would be used on the coins.

• The obverse of the coin will feature 50 stars instead of the original 46 stars. This change will honor all 50 of the current states, as opposed to the 46 states of 1907.
• The current date 2009 will be included in Roman Numerals "MMIX."
• The legally required motto "In God We Trust" will be added to the reverse.
  

US Mint's Updated 2008 Product Release Schedule

The US Mint has just made a major update to their published 2008 Scheduled Product Listing. The schedule now seems to include most coins to be released for the remainder of the year and carries a few surprises. The full schedule can be found here.

Some notable items:

• The schedule includes release dates (or the month of release) for the remaining 2008 offerings from the Presidential Dollar series and the First Spouse Gold series.
• The schedule includes release dates (or the month of release) for the remaining 2008 offerings from the 50 State Quarters Program.
• The release date for the 2008 Burnished Platinum American Eagles will be June 2, 2008.
• The release date for the 2008 US Proof Set will be June 24, 2008.
• The release date for the 2008 US Silver Proof Set will be August 26, 2008.
• The release date for the 2008 US Mint Set will be in July/August 2008.
  
• A release date of July/August 2008 is also listed for American Buffalo Gold Uncirculated Coins. Are these the fractional gold Buffalo coins? The Mint had previously announced this intended offering, covered in a previous post.
  

2008 Proof Platinum Eagle Pricing

The Mint has released pricing information on the 2008 Proof Platinum Eagles. These coins will be released Monday, May 5, 2008.

Pricing is up from the amounts previously charged for the 2007 Proof Platinum Eagles before the ongoing suspension. Details are in the chart below:

2008 Proof Platinum Eagle Coins
1 ounce	2,299.95
1/2 ounce	1,174.95
1/4 ounce	609.95
1/10 ounce	269.95
4 coin set	4,119.95