I don’t understand….Silver Eagle

Herb_T

I am looking at 2020 mint state Silver Eagles. Seems there are several graded by PCGS that are dated 2020 but the actual coin does not have a mint mark but PCGS noted that besides the date a mint mark of P, S and no mint mark noted at all. Can someone explain to how this works. Thank you in advance!

jmlanzaf

The mint mark in parentheses means the coin was minted at San Francisco but there is no mint mark.

coinhack

^^^^^^^^^
What he said and the way they determine the mint is the coins are submitted in sealed monster boxes that show the code for the mint.

Herb_T

@jmlanzaf said:
The mint mark in parentheses means the coin was minted at San Francisco but there is no mint mark.

How is it that a number of mints did this without marks?

How does PCGS know which mint did what in order to note on the coin?

Was there a special okie dokie that was made to enable this?

I am looking for some more background.

Herb_T

And this coin has no mint mark at all on coin or noted.

TurtleCat

@coinhack said:
^^^^^^^^^
What he said and the way they determine the mint is the coins are submitted in sealed monster boxes that show the code for the mint.

This is the answer OP.

Herb_T

Ok, making progress, thank you everyone.

Next question is how do established collectors look at these coins? Do they consider that a collection should have one of each (mint mark)?

Sorry I am asking such simple questions, but I am a newbie at the world of collecting and getting input from each of you helps a lot!

MetroD

@Herb_T said:

@jmlanzaf said:
The mint mark in parentheses means the coin was minted at San Francisco but there is no mint mark.

How is it that a number of mints did this without marks?

How does PCGS know which mint did what in order to note on the coin?

Was there a special okie dokie that was made to enable this?

I am looking for some more background.

This bullion ASE does not have a mint mark. In contrast, the proof versions from 2020 do have a mint mark. Example.

As @coinhack indicated, PCGS knows what location minted these coins based on the serial number on the Monster boxes.

Some more details can be found here.

291fifth

Just another marketing gimmick.

MsMorrisine

1. the mint does not put mint marks on bullion.
2. the mint does mint bullion -- at least right now -- in West Point (primary), San Francisco ("emergency") and Philadelphia ("emergency")
   ... reminder #1 the mint does not put mint marks on bullion
3. the mint puts 500 Silver Eagles in green boxes called "monster boxes" and are tamper evident strapped shut
4. the mint puts a code on the outside of the box.
5. those codes indicate where they are minted
6. a sealed monster box can be sent to PCGS and the mint (not mint mark) can be indicated on the label in parenthesis.
   ... this will only be done on original seal straps.
7. I have no idea if the common submitter, instead of a dealer, can submit for this.
8. it is entirely possible for a coin to be submitted in an "emergency" box and just not receive the "(Mint)" designation
9. monster boxes from "emergency" mints sell for more than the west point mint (regular mint)
10. It is therefore monetarily foolish to buy a "emergency" mint monster box and not have an idea about either submitting it with the "(Mint)" label designation or selling it still sealed and with a note that it is from an "emergency" mint.
11. Yes, it is possible an "emergency" issue bullion coin can be in a holder with no "(Mint)" on the label
12. It is up to you to decide if this labelling is worth something more or not.

Herb_T

@MsMorrisine said:
1. the mint does not put mint marks on bullion.
2. the mint does mint bullion -- at least right now -- in West Point (primary), San Francisco ("emergency") and Philadelphia ("emergency")
... reminder #1 the mint does not put mint marks on bullion
3. the mint puts 500 Silver Eagles in green boxes called "monster boxes" and are tamper evident strapped shut
4. the mint puts a code on the outside of the box.
5. those codes indicate where they are minted
6. a sealed monster box can be sent to PCGS and the mint (not mint mark) can be indicated on the label in parenthesis.
... this will only be done on original seal straps.
7. I have no idea if the common submitter, instead of a dealer, can submit for this.
8. it is entirely possible for a coin to be submitted in an "emergency" box and just not receive the "(Mint)" designation
9. monster boxes from "emergency" mints sell for more than the west point mint (regular mint)
10. It is therefore monetarily foolish to buy a "emergency" mint monster box and not have an idea about either submitting it with the "(Mint)" label designation or selling it still sealed and with a note that it is from an "emergency" mint.
11. Yes, it is possible an "emergency" issue bullion coin can be in a holder with no "(Mint)" on the label
12. It is up to you to decide if this labelling is worth something more or not.

Perfect…thank you! By the way, I won’t be collecting monster boxes any time soon, just need to hit that big lottery payout!

ndeagles

@Herb_T said:
Next question is how do established collectors look at these coins? Do they consider that a collection should have one of each (mint mark)?

Depends on the collector. I do have a complete set of the silver eagles with these designations all with the "Struck At -mint-" Labels.

I do also agree it's a marketing gimmick, and I know that if they were all out of the holders they would lose any additional value from that label, and the designation would never be able to be back with the coin again. For me it was just another collecting challenge and another way to spend my money. If it's an investment, it's probably not the best one (true of most coins).

Steven59

Just don't crack them out for albums - or else they will then be considered Philly minted???

MsMorrisine

@Steven59 said:
Just don't crack them out for albums - or else they will then be considered Philly minted???

west point minted

Steven59

@MsMorrisine said:
west point minted

Good point!

jmlanzaf

@Steven59 said:

@MsMorrisine said:
west point minted

Good point!

We need more privy marks

daltex

@Herb_T said:
Ok, making progress, thank you everyone.

Next question is how do established collectors look at these coins? Do they consider that a collection should have one of each (mint mark)?

Sorry I am asking such simple questions, but I am a newbie at the world of collecting and getting input from each of you helps a lot!

If you collect holders then you need one of each. If you're only interested in the coins, there is no way to tell them apart so it is impossible to care. FWIW, almost all collectors fall somewhere in between.

ricko

I have one ASE (W) 2014 PCGS MS70.... Mainly just because I have built a collection of W mint coins, and figured a 'ghost mint' W would be appropriate. It does have a special West Point Mint label as well. Cheers, RickO

WAYNEAS

Love the educational replies.
Wayne