Mint News Blog

News, Information, and Commentary on US Mint Products

Monday, November 22, 2010

Proof Silver Eagle Opening Sales Figures


Opening sales figures are available for the 2010 Proof Silver Eagle through the US Mint's latest numismatic sales report. According to the numbers provided by the US Mint, through November 21 sales have reached 273,212.

As stated in the sales report, this represents a relatively underwhelming start for the long awaited offering. Based on irregularities with some of the other numbers in this week's report, I think it is possible that the figures for the proof Silver Eagle have been under-reported.

For some points of comparison, this year's silver commemorative coins debuted with sales of 214,673 for the Boy Scouts coins and 98,358 for the American Veterans Disabled for Life coins. The last proof Silver Eagle issued in 2008, debuted with sales figures of 185,232. These coins were released under normal circumstances before the price of silver began its ascent, bullion sales surged, and collector coins were interrupted.

The 2010 Proof Silver Eagle figures top each of these amounts, but not as dramatically as seen for the 2010 Proof Gold Eagles. Opening sales figures for the gold coins came in 300% to 500% above the corresponding levels for the 2008 releases, for each product option. There was every reason to expect the Silver Eagles to experience a similar surge in orders for the opening.

Of course it is possible that the higher pricing, frustration over the incorrect email notifications, and curtailed speculative buying may have kept sales from running too high, but there are other numbers in the sales report that seem suspect.

The Mount Hood National Forest Quarter bags and rolls figures are down about two-thirds from the corresponding numbers for the other releases of the America the Beautiful Quarters Program. The table below shows the opening sales figures for each release so far.


P 100 Bag D 100 Bag Two Roll Set
Hot Springs 5,268 4,915 25,983
Yellowstone 4,447 4,392 23,273
Yosemite 4,275 4,187 23,416
Grand Canyon 4,015 3,900 23,172
Mount Hood 1,543 1,465 7,495

The 100,000 email notifications that were incorrectly sent last week were "primarily for Mount Hood quarters bags and rolls and the 2010 American Eagle Silver Proof Coin." Both of these products have reported sales figures much lower than expected. I suspect that somehow subscription orders were not reflected in the weekly sales report. I will provide any updates as I receive them.

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36 Comments:

At November 22, 2010 at 1:25 PM , Anonymous JA said...

I was intent on buying up to 50 of these but I have been so dismayed with the Mint and their jacked up prices this year, that number kept going down to 25 then 10 then finally none.

This is the first year I go all year without buying a single Mint product. No matter how low the mintages on the State Park Quarters go, I am refusing to pay the huge markups to the Mint for the privilege to take these coins off their hands.

I've learned my lesson.

 
At November 22, 2010 at 1:45 PM , Anonymous Anonymous said...

JA, it's a sorry state of affairs all around. The MINT is beyond clueless. The prices were dreamed up in some small meeting room and are ill advised to say the least.
On the collectors side, many former "I'll buy everything for my collections" people simply can no longer afford them and are wisely boycotting outlandish prices. I detest the word boycott, but that's a choice the average person must make. You MUST send a message to someone out there who may listen one day. The best message is simply - "I'm not buying crap any more, and paying outrageous prices to boot."

The mantra has to be - spend YOUR money where it's treated best, and right now it's not at our MINT.~ Grandpa.

 
At November 22, 2010 at 1:57 PM , Anonymous Anonymous said...

I purchased 1 ASE and the mint confirmed it...charged my bank visa... and then this am my account says BACK-ORDERED and will ship 12-8-2010. I called and cancelled the order....deleted my account....I'm Done with collecting!
NO im not a flipper...I collected to save for kids etc: so I will vault what I have and call it quits. Prices are Silly and Service is terrible.

 
At November 22, 2010 at 1:59 PM , Anonymous Anonymous said...

Moy strikes again!

Give all collectors an early christmas present - fire moy!

 
At November 22, 2010 at 2:34 PM , Anonymous Anonymous said...

If the sales figures hold up then I suspect the price increase has bothered more than I suspected. The economy is in the toilet and if you are on a tight budget 50 bucks will still get 15 to 20 lbs of hamburger on sale or 3 cases of beer. I still think the price is okay as silver is on the rise but even a new Cadillac for $5000 is still a lot if you can't make the $100 a month payments. Lets see what we get for next weeks figures.

 
At November 22, 2010 at 2:37 PM , Anonymous Anonymous said...

Thank you for producing the proof Silver Eagles. I truly appreciate the ability to purchase a beautiful collectible precious metal with a classic design. I'm even ok with the mark-up.
I think they should not accept returns, so nothing is "picked over". I can see returning maybe a gold item, but items priced at less than $100/each should not be able to be "picked over" and returned by flippers.

The Mint should not be allowed to re-sell returned items. Any official policy on this?

 
At November 22, 2010 at 2:51 PM , Anonymous Anonymous said...

Grandpa every time I check this site you have talked bad about the US Mint so I will have to take away your coin allowance if this persists.

Signed, Grandma

 
At November 22, 2010 at 3:16 PM , Anonymous Anonymous said...

First subscription I had for over 4 years shipped on 11/21. One I subscribed to over 4 months ago has not. The only good part of having a subscription was when the 2008w's came out I received my coins two weeks before they were released to the general public--can you say reverse of 07 first strike/early release, but have not opened the box yet!!!

 
At November 22, 2010 at 3:24 PM , Anonymous Anonymous said...

I ordered several for gifts friday.
They were in stock and reserved.
This morning they changed to back-
ordered and remained that way till
I cancelled the order 10 minutes
ago. I'm not interested in someones
returns. I know how the mint simply
sends them out again. I've been
there, done that.

 
At November 22, 2010 at 3:59 PM , Anonymous Anonymous said...

When the 2009 proof ASE was cancelled many people here wrote that they would not continue this series. Alot of people just completed thier ASE proof sets at 2008. The low sales figures might be from those people.
Buying the bullion is close to buying the ASE uncirculated. Thats what I will continue my unc. set with. After all what choise do I have if I want to fill the holes in my book?.

 
At November 22, 2010 at 4:57 PM , Anonymous Anonymous said...

Could it be that the James K. & Sarah Polk coin & spouse medal set is already sold out? The reported number exceeds the level of the Tyler sets, and the Julia Tyler set was reduced a few hundred from the last reported figure of slightly over 10,000 before being officially declared "sold out."

I wonder if that will breathe new life into the series?

 
At November 22, 2010 at 5:18 PM , Anonymous Anonymous said...

ROFL! Those silver bulls were predicting a sell out after one day!

ROFL! Guess who has the last laugh? HAHAHAHAHAHAHAHA !!!!!!!!!!!!

 
At November 22, 2010 at 6:12 PM , Anonymous Anonymous said...

They should cut it off at 300K. That's plenty. You can still buy the 2006 Reverse Proofs on the open market and they only made 250k of those. No need to turn something special into something not so special. Besides, with the imposed $2.50 premium over spot on the 2010 BU ASEs, they've made plenty, and so has the Post Office.

 
At November 22, 2010 at 6:17 PM , Anonymous Anonymous said...

Got my proof silver eagles today, thanks Mr. Moy!

 
At November 22, 2010 at 6:30 PM , Anonymous Anonymous said...

Never mind the 2010 ASE. They can hype it however they want. But bottom line is, the premium is almost 70%.
They think they can get away with the "cheaper" coins such as this.
It is equivalent to selling 1 oz gold proof coin for $2300 with current gold prices. They never consider what kind of collector population they are dealing with.
The Mint makes a lot more money selling lower price coins.
Tax the middle class and the poor!
That's government.

 
At November 22, 2010 at 6:32 PM , Anonymous Anonymous said...

Whats disappointing about sales over 270 large in slightly over 3 days starting on noon last Friday?
Looks to me like these things are flyin' out the door almost faster than Ben Bernanke can print money and screw up the country.

 
At November 22, 2010 at 7:17 PM , Anonymous Anonymous said...

Guess what I received in the mail today! It's not my proof silver eagles :(

I received a postcard announcing proof silver eagles are now on sale. Sounds like plenty to go around if the Mint is spending marketing dollars for this product.

 
At November 22, 2010 at 9:01 PM , Anonymous Anonymous said...

I'd like a postcard from the Mint saying something along the lines of "We're sorry that so many of the products you paid us ridiculous premiums for are now only worth face value for you, and you'll have to take a loss if you want to free up your cash."

No more overpriced coin rolls or bags for me. I'm not even buying annual sets anymore. I'm tired of losing money.

 
At November 22, 2010 at 9:23 PM , Anonymous RICH said...

Ok figure this one out, placed order about 12.00 P.S.T. 11/19/10. My order is back ordered will ship on 12/07/10.
Now when i look on the U.S. Mint web site they have the ASE will be Available for shipping on 11/23/10 on their catalog. Makes one wonder how the mint can even operate.

 
At November 22, 2010 at 9:29 PM , Anonymous Anonymous said...

Those backorder dates are ALWAYS all over the place! I've often wondered too how an item can show "In stock and reserved" status right after the order is placed, then be switched to "backordered" a couple days later. That makes no sense whatsoever.

 
At November 22, 2010 at 11:58 PM , Anonymous Anonymous said...

Postcards or any other type of ad being sent out to promote an item is not an indicator that there will be a large amount of that item available for purchase. The mint also has ads for the First Spouse gold coins, which have a mintage of 15,000 (20,000 for Lincoln).

 
At November 23, 2010 at 7:57 AM , Anonymous Anonymous said...

There are several ways to feel about the US Mint as is clearly shown in these blogs. One must consider many factors when deciding to buy from the US Mint or a coin dealer or a bank. The simple fact that coin dealers are now being squeezed out by the the US mints continued increases is just another nail in the coffin of afford abilities for the average collector wanting only to fill a hole or buy gifts for others for Christmas. The reports will always be obscured to create interest or dismay. Welcome to the world of coin collecting if you can not handle these facts. Whether you buy bullion or proofs or collectibles. Collecting will always be a challenge. It could be higher prices, availability, or just a simple coin at face value from the bank. The main thing to always remember is to know your place in collecting. And always have fun while doing so. This ever changing world is all to willing to get the best of you if you are weak enough to allow it. Just always remember to have fun with your hobby or investments. Because life is way to short to get upset over coins.

 
At November 23, 2010 at 8:28 AM , Anonymous Anonymous said...

To Anonymous (November 23, 2010 7:57 AM), finally someone with a sense of perspective. Thanks for your post.

 
At November 23, 2010 at 9:17 AM , Anonymous Anonymous said...

Now shipping 1/06/2011. A little
late for X-Mas

 
At November 23, 2010 at 10:58 AM , Anonymous Anonymous said...

A little late for First Strike and Early Release too.

 
At November 23, 2010 at 11:51 AM , Anonymous Anonymous said...

Hoooooray !! I just received my 2010 American Silver Eagle Proof coin (postcard) from the mint today. But unfortunately , it has corner dings and scrapes along the front . Can't win them all I guess...

 
At November 23, 2010 at 11:53 AM , Anonymous Anonymous said...

Does it qualify for early release?

 
At November 23, 2010 at 12:44 PM , Anonymous Anonymous said...

I would enjoy it if there was no early release or first strike for these at all. People who collect those are not coin collectors, they are plastic holder collectors.

 
At November 23, 2010 at 1:00 PM , Anonymous Anonymous said...

I would enjoy it if nobody bought this year's Proof ASE. Then the mintage would be respectable.

 
At November 23, 2010 at 4:03 PM , Anonymous Anonymous said...

I noticed a small one page "2010 Product Release Dates" schedule included in the Mint Order that I received today. Third from the bottom last, it says "TBD 2010 American Eagle One Ounce Silver Uncirculated Coin." Is it possible that we will get a last minute surprise from the Mint this year?

 
At November 23, 2010 at 4:14 PM , Anonymous Anonymous said...

I've got my subscriptions in just in case!!!!!

 
At November 23, 2010 at 6:31 PM , Anonymous Anonymous said...

2010-W Regular Label Silver Eagle NGC Proof 70 Ultra Cameo ***BUY NOW, ESTIMATED SHIP DATE 12/7

Price: $95.00

NOW AVAILABLE FOR SALE!!!

We expect these to be ready to ship on approximately 12/7.

http://www.moderncoinmart.com

CALL 1-800-362-9004 EXT 345

 
At November 23, 2010 at 6:57 PM , Anonymous Anonymous said...

My 5 subscription AE shipped today.

 
At November 24, 2010 at 7:42 AM , Anonymous Anonymous said...

Mine too--subscriptions are the way to go takes the worry out of first day panic!!!!!!

 
At November 24, 2010 at 9:45 AM , Anonymous Anonymous said...

Today, Wednesday, I got my post card offering the proof eagle. Apparently the mint has plenty of them, or plans to make plenty to fill all the demand they can muster. Won't be profitable until silver reaches $50, in which case bullion eagles would provide more profit.

 
At November 24, 2010 at 11:41 AM , Anonymous Anonymous said...

The Mint says that Internet orders for 2,200 proof silver American Eagles placed from the Nov. 19 sales openings until 7:30 p.m. Nov. 21 were accidentally deleted.

 

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