Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, December 7, 2010

2010 Proof Silver Eagles at 707,704


The total reported sales for the 2010 Proof Silver Eagle have now reached 707,704. After less than three weeks of sales, this amount has already exceeded the final mintage of the last available issue of the series.

The US Mint did not provide sales data last week, so the latest report available on Coin Update News reflects two weeks worth of new sales data. The Proof Silver Eagle had debuted with sales of 273,212, so the latest total represents an increase of 434,492.

In most cases, the strongest sales for newly released US Mint products tend to occur within the opening days, with the pace of sales quickly diminishing in subsequent weeks. Based on the figures provided, either the 2010 Proof Silver Eagle has broken with this trend, or as I had suggested, the opening figures were possibly under reported.

Also potentially coming into play were the 2,200 orders from the first days of sales that were deleted in error by the US Mint. Likely most of these orders were reinstated in the following week. Also, the household ordering limit was removed late last week, creating the potential for large bulk orders to be placed.

As mentioned, the sales total for the current release already exceed the 2008 Proof Silver Eagle final mintage of 700,979. More broadly, the sales already represent the ninth highest mintage across all Proof Silver Eagles.

Proof Silver Eagle Mintages - Sorted High to Low
1986 1,446,778
2006 1,092,477
1987 904,732
2007 821,759
2005 816,663
2004 801,602
2003 747,831
2001 746,398
2010 707,704*
2008 700,979
1990 695,510
2002 647,342
1989 617,694
2000 600,743
1988 557,370
1999 549,330
1991 511,924
1992 498,543
1996 498,293
1998 450,728
1997 440,315
1995 407,822
1993 405,913
1994 372,168
1995-W 30,125
* still on sale.

Numismatic Gold Coin Pricing

Separately, there will possibly be another price increase for available US Mint numismatic gold coins. Under the current policy, prices may be adjusted weekly based on changes changes in the price of gold.

Price tiers are established at $50 increments for gold. If the average London Fix price of gold from the prior Thursday AM to the current Wednesday AM, moves into a higher tier, then product prices are adjusted accordingly. As an additional condition, the Wednesday PM price must also fall into the higher tier.

The average London Fix price for this week would fall into a higher tier as long as the tomorrow's London AM fix price comes in at $1,353 or higher. More key to the situation will be tomorrow's London PM fix price, established around 11:00 PM ET. If it comes in at $1,400 or high, a price increase will take place. If it comes in below $1,400, no price changes would occur.

A price increase would impact the available 2010 First Spouse Gold Coins, 2010 Proof American Gold Eagles, and 2010 Proof American Gold Buffalo.

Labels:

51 Comments:

At December 7, 2010 at 2:13 PM , Anonymous Anonymous said...

No figures for the ATB Unc sets?

 
At December 7, 2010 at 2:26 PM , Blogger Mint News Blog said...

Good catch. It wasn't on the report provided by the Mint. I will see if I can get the number.

 
At December 7, 2010 at 2:33 PM , Anonymous Anonymous said...

Juila Tylor mintage = 4830
Maggie Taylor mintage= 4787

*****WE HAVE A NEW WINNER*******

Maggie wins low mintage proof award by 43 coins!!!

I knew Maggie was a sleeper!!!
Sorry Julie, you may be a better looker, but Maggie's got you beat!

 
At December 7, 2010 at 2:46 PM , Anonymous Anonymous said...

For the proofs yes it is a record, but for the uncirculated coin it is not. 2,861 uncirculated coins for Julia vs. 3430 for Margaret. Isn't most of the secondary market up on the uncirculated version vs. proof? The mintage difference between proofs and uncirculated for these two coins seems strange. 53 less proofs, but 569 more uncirculated.

 
At December 7, 2010 at 2:46 PM , Anonymous Anonymous said...

oops 43 less proofs!

 
At December 7, 2010 at 2:50 PM , Anonymous Anonymous said...

My proof ASE shipped today, yeah.

Problem is I ordered them just after 12noon on Nov. 19. They put my order on hold for no reason (same valid credit card I use for all my Mint items), then they "Lost" the order and then promised to expedite them to me a week later and NOW (shows shipped today) I may end up getting some "sloppy seconds" after all. Is there any official statement from the mint about what they do with returns?
I'm pretty displeased with a lot that has gone on with the Mint recently and think maybe they need a change at the top.
Michael, you up for the job? Mr. President, can you please hire him?

 
At December 7, 2010 at 2:54 PM , Anonymous Anonymous said...

The proof silver sets of 1999 with gigantic premiums and lots of availability on e-bay, compared to just 20% more production of 2000 silver sets avaiable at spot prices (similar availability to the 99s) proves mintages do not ultimately make the guidelines for premiums.

 
At December 7, 2010 at 3:17 PM , Anonymous Anonymous said...

To return your silver eagles, just follow the instructions on your invoice, clip out the shipping label from the invoice, use the original shipping box, and take it to the Post Office. It will cost you $8.50 to ship with $100 insurance and signature confirmation. I had to return my order of 2 proof ASEs this year. The quality was unmentionable.

 
At December 7, 2010 at 3:49 PM , Anonymous Anonymous said...

Well, they made to many Proof ASEs and not enough ATB 5 ouncers. They should of cut the ASEs off at 500k and produced 100K ATBs. I think they may have some serious forecasting and production planning issues. Basically, they can't plan or forecast properly. The mintage data demonstrates a classic production bullwhip - a characteristic that indicates overages and shortages at the end of a production run. Production management has become so complacent as a monopoly - they've lost touch with reality. Now they have all these pissed off chaotic customers. What do we do now Olly?

 
At December 7, 2010 at 4:09 PM , Anonymous Anonymous said...

Well, Stanley, I think we should call the 3 Stooges. They will know just what to do.

Olly, that doesn't sound like a good plan to me. It sounds just like what they are doing now, Olly.

All right, Stanley what do you think we should do?

Oh, Olly, I don't know, maybe we should call Patton Oswald.

 
At December 7, 2010 at 5:22 PM , Anonymous Anonymous said...

That number will go down when all the speculators return their large buys.The Mint doesn't count returns.

 
At December 7, 2010 at 5:56 PM , Anonymous Anonymous said...

Today, with the announcement of the 707,000+ mintage, the 2010 Proof ASE in PCGS PR-70 DCAM dropped from $190 to $130. A mintage of 800,000 will probably turn this issue into toxic waste. After twenty-five years of dedication to the American Silver Eagle series; it is time to say "I'm finished!" With mintages this high, the series has become a novelty, and not a collectable. Today, another loyal customer rides off into the sunset to never return again.

 
At December 7, 2010 at 6:19 PM , Anonymous Anonymous said...

I guess I don't understand the complaining about mintage figures being too high. There are clearly several years where mintage figures were much higher. Is everyone posting here just an angry E-Bay scalper?

 
At December 7, 2010 at 6:57 PM , Anonymous Anonymous said...

I placed my order for 5 proof SAE on 11/19/2010 at 5:41pm E.S.T.

The order has always show up when I log in. It shows as backordered (which it has since at least 2 days after I ordered them) and the delivery day is always 14-15 days away (delivery day moves ~1 day every day).

Has anyone ordered after November 19th and received their order?

I get the feeling that my order is stuck in limbo and is not getting processed for some reason.

Thanks

 
At December 7, 2010 at 7:04 PM , Anonymous Anonymous said...

The ASE proof is a classic precious metal coin design for the collector or gift giver. Its not really a coin for the flipper or investor nor was it meant to be. It is also a reminder of the neat coins the mint used to do like the liberty dime, walking liberty half, buffalo nickel, Morgan dollar, Barber coins, etc. Enjoy it while it lasts as it soon may possibly be made as a clad coin if at all per new metal in coin reduction law.

 
At December 7, 2010 at 7:37 PM , Anonymous Anonymous said...

Would that make it an ACE? American Clad Eagle

 
At December 7, 2010 at 7:44 PM , Anonymous Anonymous said...

I can confirm at least one early order was processed correctly. I placed my order for 100 right at Noon on opening day. My coins shipped on 11/24. I picked them up from UPS on 12/1 and immediately sold to a dealer.

FYI - I now plan to cancel my additional orders (due to the sales figures) and buy a few from a friend for my collection.

 
At December 7, 2010 at 8:49 PM , Anonymous Anonymous said...

Laurel and Hardy may want to move past the bullwhip theories used on Henry Ford's assembly line and study up on the theories of constraints for resource management in manufacturing processes.

In response to 18 months of public outcries and complaints that included a calendar year without the precious ASE PR coin, the Mint has continued to support all mandatory 2010 production while also identifying the additional blanks suppliers and manufacturing resources necessary to satisfy this niche market. The mint has worked tirelessly to minimize the constraints on all ASE production.

Meanwhile, the ATB bullion coins represent a new product line, a new process, new capital equipment, and new blanks available from just two suppliers - one US and one in Australia. Quite simply, a very constrained manufacturing process that also has suffered through an accelerated, yet very poor implementation timeline.

Keep in mind that the Mint is not obligated or otherwise mandated to produce the ASE PR coins. We wanted them; we got them. Today's sales numbers simply document the public's pent up demand for this timeless, classic COLLECTOR coin.

I am happy that I received my 3 subscription coins; one for my COLLECTION and two for gifts. Then again, I'm happy because I love the coin and don't care about the production numbers.

 
At December 7, 2010 at 9:02 PM , Anonymous Anonymous said...

8:49 PM.....Amen!

 
At December 7, 2010 at 10:08 PM , Anonymous Anonymous said...

I've noticed that Canada and Australia have no trouble delivering on collector programs. Additionally, I am aware that they have less demand and operate from one facility. However, these foreign mints seem to be planned out one year in advance, while here at home, our mint seems to be planning in the moment. If they don't have the materials and the equipment in place prior to the start of the production year; this just indicates that the cart has gotten ahead of the horse. Upper management may be committing to production promises that they can't keep. This may be due to a lack of facility, the inability to gauge capacity, supply chain disruptions for materials, or overburdening demand from Congress.
From a marketing to production stand point, the Mint appears to have far too many product offerings and far too much variety. They resemble the old GM. Additionally, the recent exponential increase in the demand for silver bullion coins is new to the Mint and the recent decline in business strike coinage maybe a benefit. At this point, the only options the mint has includes: increase production capacity, drastically improve supply chain capacity for silver blanks, and reduce the number of offerings. Remember, as the economy improves, the demand for business strike coinage will increase, the Palladium series comes out this year, and the 5 ounce ATBs will be produced in larger quantities.
If the Mint thinks that 2010 was a tough year; one would think that 2011 could be a nightmare. By offering the 2010 Burnished 5 ounce ATB in 2011 suggests that they are already behind schedule for next year. Good luck guys. Maybe it is time to build another Mint facility.

 
At December 7, 2010 at 10:23 PM , Anonymous Anonymous said...

Dear Mr. Mint Director,

I think it is time to open another Mint facility. The Mint needs capacity and America needs more jobs. Carson City Nevada would be most appropriate since the abundance of silver and gold mining in the area could provide immediate supply and there is an abundance of skilled labor in the area. Additionally, a lot of the real collectors would love to see the "CC" mint mark return. Just a thought....

Cheers

 
At December 7, 2010 at 10:37 PM , Anonymous Anonymous said...

$45/coin not a bad deal as silver hit (briefly) $30+ today. Better deal than circus sized "bullion" circus coins (with no attempt to keep scratch-free).

 
At December 7, 2010 at 10:58 PM , Anonymous Anonymous said...

In response to the "New Winner" post, the mintage figures for Margaret Taylor are the same as they were two weeks ago, and are not necessarily a new low. I bought 15 of them, so I'm hoping there's fewer of them than Julia, but no confirmation yet.

 
At December 7, 2010 at 11:00 PM , Anonymous Anonymous said...

I don't think 2011 will be a disaster for the mint, they have apparently modified the programs now that next year the coins should all be available.

The 5 ounce silver coins will not receive edge lettering so manufacturing will improve greatly and they will also start much earlier in the year than they did for the 2010 versions.

The silver eagles will be able to be produced in proof, burnished and bullion to meet demand due to legislation changes.

We may see the 1 ounce gold eagle burnished coin next year as well.

The palladium 1 ounce coins and proof platinum 1 ounce coins should also come out on time.

So I don't see the disaster there.

The real disaster will be for us to get enough money to pay for all this if we want 1 of every coin. It is over eleven thousand dollars at least just for the collector versions, I'm afraid to add in the bullion ones.

 
At December 8, 2010 at 12:23 AM , Anonymous Anonymous said...

To 11:PM,

Sounds like the appropriate steps are being taken. I am just curious about the forecasted demand for BU ASEs in 2011, the availability of Palladium, and the likelihood that the Satin Finished Mint Sets will return to standard BU.

On a lighter note, I'm not banging on the Mint for sport. I'm banging on them because of the aesthetic quality issues in collector coins recently received, the drastic premiums, the abundant mintages, and the recent chaos. I've been a loyal customer with the Mint for 20+ years and from my vantage point, things appear to be changing too fast for everyone's own good. As a result, the customer suffers and the Mint's reputation takes a tarnish. As an American, the Mint and the coinage it produces is a symbol of my identity, and this is why American Coin Collectors take the Mint seriously. Sounds nutty, but Americans love their Eagles for deep personal reasons of National Pride. I personally feel that the Mint has been slowly losing touch with the values of their customers and becoming more of a high volume trinket business. What the Mint produces is a reflection of the People and its Government. Our collector coinage should be of outstanding aesthetic quality, it should appreciate in value, and the designs should have significant meaning to every citizen. These values should be paramount to the Mint and not the umpteen depreciating designs the Mint currently produces. Furthermore, the Mint's performance is also a reflection of how well our government is currently performing. The Mint should be the pinnacle of American Manufacturing Technology and it should also never forget that its customers care greatly about its reputation. The performance of the Mint is very important to the tone of American Society and everyone involved (the Mint & its customers) should take it seriously. The performance of the U.S. Mint is not a joke. It is a serious public service deeply intertwined with the awe-inspiring historical values of this nation.

Well, this is how I feel and thank you for listening. Let's hope 2011 is a much better year.

 
At December 8, 2010 at 2:46 AM , Anonymous Anonymous said...

Good gravy -

Why would anyone buy 15 Margaret Taylor gold coins? Clearly the poster is not a collector but a flipper....

In response to the "New Winner" post, the mintage figures for Margaret Taylor are the same as they were two weeks ago, and are not necessarily a new low. I bought 15 of them, so I'm hoping there's fewer of them than Julia, but no confirmation yet.

 
At December 8, 2010 at 2:48 AM , Anonymous Anonymous said...

Turbine,

A poor site. But you're smart in taking advantage of free advertising to promote your personal website.

 
At December 8, 2010 at 2:54 AM , Anonymous Anonymous said...

Julia Tyler still beats Maggie Taylor in terms of overall mintages:

Julia has about 7,700. Maggie has about 8,200.

Ummmm, which one is more rare?

 
At December 8, 2010 at 4:02 AM , Anonymous Anonymous said...

Aside from liberty series subset the first spouse has very little going for it other than a gold bullion type of option. Too many other interesting coins to buy. 2011 will ring in another round of even lower mintages for this series.

 
At December 8, 2010 at 4:42 AM , Anonymous Anonymous said...

*No price increase the week!*

 
At December 8, 2010 at 6:21 AM , Anonymous Anonymous said...

I say golds back above $1400 by 11

 
At December 8, 2010 at 7:50 AM , Anonymous Anonymous said...

Pop, pop, pop!

 
At December 8, 2010 at 8:58 AM , Anonymous Anonymous said...

I got my proof ASE's today and I must say that that they all look to be a flawless PF70 contenders. No dust or plastic floating around inside capsule, as stated by others.I am a collector ,not a flipper , and just glad to have them ..

 
At December 8, 2010 at 10:15 AM , Anonymous Anonymous said...

Only flippers, not collectors, are unhappy about high mintages. The fact that lots of people want one makes it garbage? It should be the opposite. The USM should be producing products to meet demand, not create a mini lottery with under-produced products.

 
At December 8, 2010 at 10:30 AM , Anonymous Anonymous said...

December 8, 2010 10:15 AM....AMEN...

 
At December 8, 2010 at 11:00 AM , Anonymous Anonymous said...

December 8, 2010 12:23 AM

WELL SAID. AS A PHYSICIAN I CAN ONLY SEE 'OBAMACARE' AS BEING RUN LIKE THE MINT AND IT CONCERNS ME, NOT BECAUSE I WILL NOT MAKE AS MUCH MONEY OR OTHER REASONS I HAVE BEEN TOLD BUT BECAUSE MEDICINE WILL BE RUN LIKE THE MINT. AND I DON'T MEAN IN A GOOD WAY EITHER. WHEN POLITICIANS GET INVOLVED, IT ONLY MUDDIES THE WATER, NEVER CLARITY.

THE MINT MAY NEED TO BE PRIVATIZED AND RUN AS A CAPITALISTIC ENTITY WITH FREE MARKET PRESSURES.

SORRY FOR A QUICK OFF THE TOPIC BUT THE ABOVE POSTER VERY NICLEY STATED WHAT I AM AFRAID MY FUTURE IN MEDICINE MAY LOOK LIKE.

 
At December 8, 2010 at 11:20 AM , Anonymous Anonymous said...

Sadly this is the case in many other fields. I happen to be a PhD in Physics - ditto, same situation! Only Monopolies work and products / research are forced.

So collecting coins is a great getaway from those pressures - until now...?

 
At December 8, 2010 at 1:21 PM , Anonymous Anonymous said...

Just about every collector(or his heirs) are at some point a flipper for a profit, so knock it off.

From a collector.

 
At December 8, 2010 at 1:55 PM , Anonymous Anonymous said...

Wow. ATB's at 2700 hundred for the set on ebay And an article in the WSJ.I got one from APMEX. I'm gonna keep my set since the mint hasn't offered much in the way of collectibles but what they did offer i got most of. I thought the silver proof ATB quarters looked nice but now I can't wait to see the 5 ouncers. I will be there as well for the numismatic one's as well. National parks are our treasures and living here in colorado I cant wait for the sand dunes version. Is mount rushmore on this list?

 
At December 8, 2010 at 2:27 PM , Anonymous Anonymous said...

Has anyone contacted the mint on when they will sell the 5 ounce silver coins or will they wait until the Holidays are over and they have more time?

 
At December 8, 2010 at 2:28 PM , Anonymous Anonymous said...

Mt Rushmore will be featured on the South Dakota coin, but I think that is in 2013 if I remember correctly.

 
At December 8, 2010 at 2:29 PM , Anonymous Anonymous said...

1:21

Not only is that an absurd statement, but your reference to heirs leads me to believe you don't even know what a flipper is.

 
At December 8, 2010 at 3:06 PM , Anonymous Anonymous said...

December 8, 2010 2:29 PM..Agreed

 
At December 8, 2010 at 3:19 PM , Anonymous Anonymous said...

I don't see the problems people are having with quality. Can you expect every coin to be graded 70? How does their quality compare with other mints? Anyone with experience ordering a whole lot from multiple mints?

Personally I hate the "milk spots" on practically all Canadian silver. The fact that they can't or won't get rid of those seems incompetent.

 
At December 8, 2010 at 3:54 PM , Anonymous Anonymous said...

Those milk spots on Canadian coins puzzle me. Could it be due to the purity of the metal or refining process. I understood the mapleleafs are .9999 silver while eagles are .999 silver. Anyone ever figure out the case of the milk spotted mapleleafs? Surely its not a fungus.

 
At December 8, 2010 at 8:32 PM , Anonymous Anonymous said...

Flipper/Seller/Capitalist--you know what I mean. When you learn that someone made a profit while you did not, it's suddenly not fair, not right.
Maybe a flipper, collector, or an heir who made a profit should re-distribute that wealth back to you somehow. again, knock it off.

Citizen of a free(for now)market society.

 
At December 8, 2010 at 9:50 PM , Anonymous Anonymous said...

I'm not a flipper and I collect only the finest possible ASE specimens I can get my hands on. Price and quality are always a concern. I've had the best success buying PCGS-70/69 ASEs from on-line suppliers like MCM and others. I use to buy ASEs directly from the mint, all in the hopes of handling the grading submissions on my own to keep my costs down, and I almost always got snafooed by Mint delivered ASEs with quality problems. Now, I let the on-line suppliers take the hit, I get the quality that I want, and it costs me three times more with no hassle. It's worth it and this way I am less frustrated with the Mint. Leave the submissions to the largest flippers of them all - the online suppliers. You will be much happier. It is coins that are of the highest of quality that win in the end.

 
At December 8, 2010 at 9:53 PM , Anonymous Anonymous said...

On the topic of spots - try finding a Proof 2010-S penny without the orange spots - impossible.

 
At December 9, 2010 at 8:05 AM , Anonymous Anonymous said...

Recommend that the U.S. Mint change the "coin return policy".

The mint should accept returned coins, but then they should melt all returned coins.

I for one don't want somebody's rejected coins. If the mint just destroys all returned coins,the problem would be solved.

Goldfingers

 
At December 9, 2010 at 8:10 AM , Anonymous Philly Dog said...

Just talked to the mint and was told they are holding up on the ATB
5 oz. I beleive the more calls they get the better chance they will put them up for all collectors
through the internet.
Please calll and express your mind

Michael White
Office of Public Affairs
(202) 354-7222

 
At December 9, 2010 at 9:22 AM , Anonymous Anonymous said...

Gold fingers: your suggestion calls for an immediate increase in prices across the board of all mint products. I have a feeling that all of the price increases we have seen this year go towards the reprocessing of returns, which in itself probably has become a major operation at the distribution center.

 

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