Should the US Mint make fractional silver eagles?
HalfDime
Posts: 933 ✭✭✭✭✭
Should the US Mint make fractional silver eagles?
The last time that the US Mint went out on a limb and made a lot of fractional products was in 2008, with the gold buffalo and burnished gold eagle coins. These were quickly discontinued by the end of the year for various reasons and became only a 1 year issue for collectors.
However, what would have happened if the mint had not done those products, but instead had gone after silver eagle collectors.
These coins would have things going for them that the gold products didn't have, such as low cost to make, and it is a design that many would love to own in smaller sizes (my guess only).
The silver eagle fractionals would have to be given denominations, so the 1/2 ounce would probably be 50 cents, the 1/4 ounce would be 25 cents, and the smallest 1/10 ounce would be a dime.
Sets of all 4 silver eagles would likely sell very well. Or would they?
Is this something the mint should consider?
Comments
The ASE is the only series which I believe is actually mostly bought for recreational hobbyist collecting. Low budget for almost all single coins and still moderate for both the basic and expanded sets, by 21st century economics.
So, I can see that many more collectors would actually want to buy it for collecting purposes, as opposed to practically all other US NCLT from the 21st century.
You do realize that the premium for the silver eagles would be prohibitively expensive for a 1/10 Oz silver. They are not free to mint
All comments reflect the opinion of the author, even when irrefutably accurate.
No.
No.
I like the idea of fractional silver eagles I say drop the Presidents from all coins and replace with the classical designs.
Halves would be nice, but nothing smaller.
Nevermind, just start minting Walking Liberty halves again each year and sell them at bullion prices.
At spot $200 an ounce, you betcha!
If we were following the constitution it would be our money and wages. I’d work for less than a dollar per hour.
To paraphrase:
“Nothing should be coined except silver and gold for the satisfaction of debt.”
``https://ebay.us/m/KxolR5
If the Mint were to do fractional silver pieces, their best bet for sales would be to use the classic Mercury, Standing Liberty, and Walking Liberty designs. Or maybe a Seated Liberty for the Half if they want to keep Weinman's design on the dollar piece.
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It would be super cool if they did a fractional set of any Bust design, Seated, or even better…Barbers.
Extra cool points for proofs with original style cameo instead of the modern laser style (or whatever odd finish they use on modern cameos).
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
No
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
A private mint can manage the overhead and you see fractional, but to fire up the US Mint presses for that is not feasible. We complain about the money losers this would be one.
The mintage would have to low to support the price. Maybe lower than the 95-W ASE. Maybe also a one-time set as opposed to annually like the proof Morgan.
That's what I regularly read on this forum. Simple explanation for it which is more than just financial.
The appeal of fractional gold and platinum is that they're more affordable. There's not much point to fractional silver outside the existing dime/quarter/half proof programs.
They would probably have an appeal to new collectors and YNs
Mr_Spud
No.
The trouble with the fractoinals are that they are not cost effective ways to invest in bullion. You might like them as a collector, but the premiums for them make them a bad buy.
Having said that I am sorry that I never bought a set of the fractional Buffalo gold coins. I say that as a collector not a bullion buyer. At the time I thought that the mint's premium on them was too high.
Only if they want a lot of us laughing at them.
Nope. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
The US Mint is desperate for volume products now, as the high prices of precious metals have lowered sales dramatically.
An easy way to get volume sales is to do fractional silver products.
If the mint did a 4 coin set of fractional silver eagles (1/10,1/4/1/2,1 ounce) and made only 100k sets with no individual sales, that is 400k coins they would be selling.
The mint could also do 4 coin fractional sets of the Peace Dollar and Morgan dollar as well.
If they did all three of these 4 coin sets at 100k mintage each, that is 1.2 million coins in additional sales. If they price each 4 coin set at $299, that is $89.7 million dollars in revenues.
Did someone say fractional Mercury ?
2 ounce silver overstruck off center by 1 oz, 1/2oz, 1/4oz & 1/10oz.
One time or recurring?
If one-time, I can see your description happening.
As a recurring series? I doubt it.
Super cool looking! I wonder how close the size ratio is to 1.61803
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
Why not? The Mint made fractional silver coins for a couple hundred years with no debate over the cost effectiveness of smaller denominations.
Make money real again. Copper too!
As any student of money well knows, the devaluation of metal coinage is at the root of inflation and enables government mismanagement. Just ask Ancient Rome.
I knew it would happen.
The mint could do burnished 4 coin fractional sets one year, proof fractional the next, and then reverse proof fractional the next.
They can't without legislation - the Liberty Coinage Act of 1985 (which also created the ASEs) only defined the 1oz.
https://www.congress.gov/99/statute/STATUTE-99/STATUTE-99-Pg113.pdf
Title II Section 201.
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/
No I wouldn’t think it would fly.
I think the premiums on them would be crazy but I think it would be cool.
That is cool!
Sometimes I kiss & tell.
You got to dig, don't know if their 500 production run is done.
You'll see lasered on my reverse K10 "286/500". I did not get COA.
I got mine for less than 2oz.999 spot off fleabay couple years ago.
Took a bit to locate minter.
https://limitedmintage.com/
https://limitedmintage.com/product/mercury-dime-tribute-2-troy-ounce-50mm/
Happy Shopping !
Thanks for the link, it isnt available for sale anymore though.
Unfortunately, judging by the modern Morgan/Peace dollars, the Mint wouldn't be selling them at anywhere near bullion prices.
No
These may be coming soon. The mint is finally waking up to getting lower priced products that are an easy sell.
No. It would just add extra costs to produce different planchets and dies, etc.
Love this idea, sounds totally doable, and should stir renewed interest in the series.
Would be cool if the Mint could produce these next year.....even though it would require new legislation as mentioned by @BStrauss3. ☺️
No 👎 (they should have kept the fractional gold buffalo' as well)
No. They would be too expensive to make as bullion coins, and not contain enough silver to be worthwhile.
Geez … one more more set of junky gimmick coins no one needs.
That could describe the entire hobby to a non-collector.
All comments reflect the opinion of the author, even when irrefutably accurate.
Even at $70/oz you have to have enough dollar profit and unit sales to justify. Healthy margins and high production are sobering effects to demand. Certainly the low mintage bullion fanboys will not like the required production for feasibility.
But I may be completely wrong due to production automation tech that exists nowadays.
I am a 67 year collector, and I am sick of the gimmick coins the mint is making, and the prices it charges for the few modern pieces (Mostly an annual Proo set) I want to add to my collection. The mint is collector hostile with its pricing policies. That goes for all collectors, including the YNs.
The MInt has also shipped me more than my share of off-quality coins through the years. Here's a few of them. I don't exepct to get 70s, but this is ridiculous.
I should have kept this one and sold it as an error.
Not fractional eagles. Take the coins that go into the silver proof set and offer them individually instead and treat the silver proof set as a "bulk discount" item.
Custom album maker and numismatic photographer.
Need a personalized album made? Design it on the website below and I'll build it for you.
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Why can't they do fractional eagles? People buy fractional eagle silver rounds all the time. They are quite popular. Fractional eagles don't preclude the silver proof set singles. And you can already buy silver proof set singles, just not from the Mint directly.
All comments reflect the opinion of the author, even when irrefutably accurate.
I wouldn't mind pure silver versions of the mercury dime, standing liberty quarter and walking liberty half
The enabling legislation defined only the full ounce ASE. Could they do a mint MEDAL in fractional sizes... I guess. Whatever they do, the problem is going to be the markup over melt. Like driving a car off the showroom floor, you take a huge loss.
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/
I don't think the legislation is an issue at all. It's the Mint that is taking about doing this. It isn't just us idly speculating.
All comments reflect the opinion of the author, even when irrefutably accurate.
Redacted
What would be the Mint mark up on these?
The problem is the high chance fractional silver has the chance to end up in circulation. The one thing I cannot stand as much as I like profiting off of it is finding silver in circulation.
Canada and Mexico made fractional silver years ago. Now with premium so high, the premium is going to be higher than the silver value.