US Mint and Stacks partner to sell last 500 & first 500 Eagles

U1chicago

Anyone else see this in their email? Any thoughts; are you excited? Or disappointed? Or is it not much of a big deal?

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To celebrate the 35th anniversary of the series, new reverse designs for the silver and gold eagles were released in April 2021, and the transition between the classic and new designs was commemorated in a striking ceremony at the West Point Mint. During this ceremony, then-Director of the Mint David Ryder personally operated the presses to produce the final 500 coins each of the classic gold and silver 1 ounce coins and the first 500 coins each of the new gold and silver 1 ounce coins.

These American Eagle at Dusk and at Dawn coins will be offered exclusively by Stack’s Bowers Galleries on September 1, 2022 as part of their Summer 2022 Global Showcase Auction. These will primarily be offered in special four-coin sets containing one each of the classic gold and silver eagle 1 ounce coins and one each of the new gold and silver 1 ounce coins. The first coins struck of the new designs will be paired with the final coins struck of the classic design and this pairing format will be maintained with all sets. Each of these four-coin sets will also be accompanied by a numbered Certificate of Authenticity issued by the United States Mint. Similar two-coin sets will be offered featuring one each of the classic and new designs in gold or silver. These two-coin sets maintain the same paired striking order as the four-coin sets and are ideal for collectors focusing solely on either the American Gold Eagle or American Silver Eagle series. Select coins of particular significance will be offered individually, including the very first and last coins struck of each type. Each coin will also be graded and encapsulated by the leading grading services NGC and PCGS with custom labels to recognize their historic significance.

This partnership represents the very first time the United States Mint has selected a third-party auctioneer to present a special coin release to collectors, and Stack’s Bowers Galleries is honored to have been chosen for this inaugural offering. Only once before had the Mint entered a similar arrangement over their entire history—the July 2002 sale of the only 1933 Saint-Gaudens Double Eagle authorized for private ownership. Stack’s partnered with Sotheby’s for that sale, which went on to realize a then-world record as the coin sold for over $7.5 million.

Coinworld also has an article:
https://www.coinworld.com/news/us-coins/breaking-news-mint-contracts-with-stack-s-bowers-for-auction

Smudge

Marketing gimmick, pass.

alaura22

@Smudge said:
Marketing gimmick, pass.

Yeah, but you get a special box!
I'll pass also

PTVETTER

Passing also,

Zoins

Imagine if it said:

US Mint and Stacks partner to sell last 500 & first 500 1933 Double Eagles

CaptHenway

GACK!

U1chicago

@Zoins said:
Imagine if it said:

US Mint and Stacks partner to sell last 500 & first 500 1933 Double Eagles

Well they did partner to sell 1 (along with Sotheby’s).

Zoins

I’m curious to see what labels are used!

1madman

This is a year old

GRANDAM

@1madman said:
This is a year old

Is this 2023?

U1chicago

@1madman said:
This is a year old

The coins are from 2021 but the sale is happening later this year (2022)

U1chicago

@GRANDAM said:

@1madman said:
This is a year old

Is this 2023?

No; unless I found a time machine

1madman

Think I remember some of the bullion dealers (APMEX and Pinehurst) selling first and last day of issue labels for the type 1 & 2 designs in July last year. From what I remember this was not overly popular, and I don’t see the “demand” for these coins to warrant more companies to rehash anemic ideas. Guess I’d classify Stacks as being flippers who held onto the product way too long this time.

CuKevin

@1madman said:
Think I remember some of the bullion dealers (APMEX and Pinehurst) selling first and last day of issue labels for the type 1 & 2 designs in July last year. From what I remember this was not overly popular, and I don’t see the “demand” for these coins to warrant more companies to rehash anemic ideas. Guess I’d classify Stacks as being flippers who held onto the product way too long this time.

This is not the same product.

1madman

Here’s an example of what was sold in mid 2021:

https://www.apmex.com/product/234221/2021-1-oz-gold-eagle-type-1-ms-69-pcgs-last-day-of-production

So these “new” Stacks coins are going to say something like last mint box on the label? NGC has labels for gold eagles that read something to the effect of “from sealed mint box #1”, which I guess is slightly different than fdoi. Never have seen much demand for these either.

ricko

These are not something I would collect. However, many collectors do like these type of offerings - i.e. FDOI, First Strike etc.. It is a hobby, collect what you like, have fun. It is not always about the profit. Cheers, RickO

MetroD

@1madman said:
[...]
So these “new” Stacks coins are going to say something like last mint box on the label?
[...]

The Mint has been calling these 'American Eagles at Dusk and at Dawn 35th Anniversary Sets'.
They were struck during a special ceremony. Reference
If I was forced to GUESS, I would think that the same nomenclature would be used.

@1madman said:
[...]
NGC has labels for gold eagles that read something to the effect of “from sealed mint box #1”, which I guess is slightly different than fdoi.
[...]

PCGS offered something similar. I can recall ASE from the last 'monster box'. Link
Note - 144 of these were still available as of this posting at APMEX.

Note sure about any other 'first/last' box offerings from PCGS.

7Jaguars

Hey don't forget the Ryder autograph - isn't that worth an extra K or two....

johnny9434

pass, not interesred in gimmicks

Goldminers

It will be interesting to see what 500 people or businesses are willing to bid for this advertised label set, limited to only 500.

I expect some bids by the major telemarketers, and some other eBay reseller types, will be high enough for them to obtain quite a few of these. And since it is a guaranteed sellout, the new asking prices will probably start at double+ what the actual auction goes for.

I expect these will have much more demand from collectors or speculators that are not on this forum.

Since there are no differences in the coins, I would not be a bidder for these unless below the Mint equivalent issue price, or a little above spot, as I am concerned that chasing these too far might be a mistake.

fathom

It will be interesting to see if these specialty labels stand the test of time.
The coins are identical to regular issue so will the novelty wear off?

If they could have done a privy mark I would be more interested.

I think auctioning limited editions was suggested by several forum members during the v75 privy fiasco.

Kliao

Another sales gimmick. Not interested myself but would like to see what comes out of it,

streeter

Maybe not this particular label but when you sell the labeled or graded SAE to dealers, it's just an oz of silver.

Glen2022

I think someone is going to make a lot of $$$$. Not for me!!!!

jmlanzaf

@streeter said:
Maybe not this particular label but when you sell the labeled or graded SAE to dealers, it's just an oz of silver.

This is not true. Find a better dealer. I just paid multiple of silver for silver eagles based on their holders from a customer who came in.

ProofCollection

What if there's something different about the coins that they didn't mention? Such as a privy mark or extra detail or distinguishing characteristic?

jmlanzaf

@ProofCollection said:
What if there's something different about the coins that they didn't mention? Such as a privy mark or extra detail or distinguishing characteristic?

There isn't. They were the first and last of the run. Not a different run.

Besides, if there were, the big boys would know about it and you won't be able to touch them.

But go ahead. Bid them up. They might be made of fairy dust.

jmlanzaf

I would be very surprised if they don't bid north of $500. Maybe $1000

ProofCollection

@jmlanzaf said:
I would be very surprised if they don't bid birth of $500. Maybe $1000

I'm not familiar with the slang you're using.

jmlanzaf

@ProofCollection said:

@jmlanzaf said:
I would be very surprised if they don't bid birth of $500. Maybe $1000

I'm not familiar with the slang you're using.

Autocorrect. "North" not "birth". Corrected.

cheezhed

I already have a first and last of issue. Just not one of 500.

Namvet69

Only if they use a special holder that includes the red button with his thumbprint on it! Peace Roy

ms71

Gonna be some VERY expensive labels.

derryb

And the top money coins are:

Select coins of particular significance will be offered individually, including the very first and last coins struck of each type.

jmlanzaf

I'm in at $500 or less

messydesk

fathom

Whichever party approached the other it's a test for future marketing opportunity.

Collectors pay huge premium for plastic, why not labels?

jmlanzaf

What will be interesting is how they sell them. If they sell them individually or in small lots, do you go strong early or lay back and hope the price drops later.

ProofCollection

.> @fathom said:

Whichever party approached the other it's a test for future marketing opportunity.

Collectors pay huge premium for plastic, why not labels?

The labels for coins released and graded at major shows seem to get stupid premiums.

jmlanzaf

@ProofCollection said:
.> @fathom said:

Whichever party approached the other it's a test for future marketing opportunity.

Collectors pay huge premium for plastic, why not labels?

The labels for coins released and graded at major shows seem to get stupid premiums.

The Mint should do this with all limited mintage coins. They maximize their price and eliminate the flipping market.

Coin Finder

And the beat goes on......

NJCoin

@jmlanzaf said:
What will be interesting is how they sell them. If they sell them individually or in small lots, do you go strong early or lay back and hope the price drops later.

The auction is already posted. Both Stack's and Bowers have been around forever. They know exactly what they are doing, and how to extract maximum value.

Numbers 1-20 in both gold and silver, new and old, will each be auctioned individually, in reverse order, the ensure that the anticipation builds and the prices increase as they move from #20 to #1. That will be the first 80 of 700 lots.

The next 120 lots will be the same thing, in ascending order, for coin #s 21-50, again, both new and old, gold and silver. Depending on how crazy the prices were for the first 20 coins in each series, these prices will still be nuts, but probably less so, and probably declining as the coin numbers increase.

The next 100 lots will be pairs of new and old gold and new and old silver, for coin #s 51-100, again in ascending number order. Prices will probably start declining for these, since you will have to buy coins two at a time, and the coin numbers are going up.

The remaining 400 lots will be last to go, coin #s 101-500, in 4-coin sets in ascending number order. These will surely be the least expensive per coin, but will still be very expensive lots, considering they will each contain 2 ounces of silver and 2 ounces of gold.

Interestingly, unlike Magic Mike on HSN, Stack's did not mix and match the coins before grading to ensure that matching coin numbers have matching grades, so the grades are all over the place, but at least we know they strictly maintained the integrity of the coin numbers. A quick look reveals that there are not too many 4-coin MS 70 sets, so these will probably go for a very nice premium.

pcgscacgold

Cool set. Two oz of gold and two of silver. Will be fun to watch. Premiums will be higher then I pay but good luck to all that bid. Neat set to add to your collection.