San Francisco 2011 Silver Eagles Update
According to a recent article from Numismatic News, the United States Mint has temporarily suspended production of American Silver Eagle bullion coins at the San Francisco Mint. The total number of coins produced so far has reached 2,305,000 with almost a million still remaining in inventory. Production may resume later in the year as needed.
For the year to date, the total number of Silver Eagle bullion coins sold has reached 25,271,500, including those struck at West Point and San Francisco. This is well on the way to achieving another annual sales record. The current record was achieved last year with sales of 34,662,500 of the one ounce silver coins.
Despite some earlier skepticism about how the San Francisco Mint's Silver Eagle bullion coin production would play out on the secondary market, pricing for coins identified to this origin has been reasonable from most channels. As expected, the major third party grading companies are providing special encapsulation for the coins minted at San Francisco, identifying the origin. In general, it has been necessary to submit an entire sealed Green Monster Box to have the coins identified as such.
On the secondary market, there are many examples of 2011 San Francisco Silver Eagles available in individual PCGS or NGC holders graded MS69 or MS70. A general price level for MS69 grades is about $50, while MS70 coins are around $100. These prices are not much different than other 2011 Silver Eagles not identified by mint origin. Some channels also sell sealed Monster Boxes of 500 coins with the identifying markings from San Francisco or 20-coin tubes, sealed and identified by PCGS.
Labels: Silver Eagles