Why the 2026 Congratulations set should be a winner
HalfDime
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The 2026 Congratulations Set being release on January 20th is a set of only one coin, It will have a projected mintage of only 60,000, which will place it second for lowest mintage of all proof silver eagles.
1) 1995W Silver Eagle Proof Mintage 30,125
2) 2026P Silver Eagle Proof Mintage 60,000
3) 2020W V75 Privy Mark Silver Eagle Proof Mintage 74,709
Prices Raw
1) $2900
2) ????????
3) $350
It should be selling for higher than the 2020W V75, but much lower than the 1995W. Either way it should be a winner for those who purchase, assuming the mintage stays at 60,000. This also assumes the mint does not release another regular 2026P Proof coin that only has the 2026 date.
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Comments
The 2025 "Congratulations Set" states a product limit of 55,000 and is still available on the website.
https://www.usmint.gov/congratulations-set-2025-25RF.html
Is the 2026 different in some way?
Nothing is as expensive as free money.
Well, the date will increment by one.
And the 2026 is supposedly a P mint not West Point.
" Either way it should be a winner for those who purchase, assuming the mintage stays at 60,000."
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Wow, I've had a subscription for these for the last couple years. SO glad I didn't pause it while waiting for images of what they'd look like. I'll be happy getting my 2 via subscription
It doesn't indicate the mintage or product limit on the item page, only on the subscription page which is generic and not specific to 2026. I know you've been hyping these, are you sure of this alleged mintage limit? Are you sure it's not just a product limit? Or a subscription limit?
All comments reflect the opinion of the author, even when irrefutably accurate.
Product limit is different than mintage limit, but I don't see an actual mintage limit for the 2026.
All comments reflect the opinion of the author, even when irrefutably accurate.
On the normal item page, it shows the current 2025 version, not the 2026 version, even though I clicked on the 2026 item.
The subscription option does show the 2026 item with a mintage limit of 60,000 and a household order limit of 1.
The 2025 Congratulations set product limit 55,000 No mintage limit 25RF
This product is still available because it is the same silver eagle that they sell as the proof release 25EA
Those two are the same coin, this is why the 2025 Congratulations set had a product limit, and not a mintage limit.
The 2026 Congratulations set has a mintage limit of 60,000 according to the subscription page, which if this is how it is released, means that coin will only be contained in that set.
Everyone who added subscriptions recently likely did it due to the stated limit of 60,000.
That's essentially what I said. It does, however, show no specific limits on the 2026 item page. See below. Which is why I ask the question. I don't see any confirmation of ba 60,000 mintage limit. Even if the congratulations set PRODUCT limit is 60,000 [which is also not specifically stated anywhere], how do we know the actual MINTAGE limit is 60,000?
All comments reflect the opinion of the author, even when irrefutably accurate.
No product limit? Just curious 🤔
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Congratulations Set 2026, Ships January 20, 2026
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Item Number: NP
Item Limits
Mintage Limit: 60,000
Product Limit: None
Household Order Limit: 1
You're wrong and you're right. They absolutely DO say the Mintage Limit is 60K for 2026 Philadelphia proof ASEs. No Product Limit, but a 60K Mintage Limit.
OTOH, based on what they have pulled in the recent past, that could easily change with the stroke of a pen. Or possibly with no notice or disclosure at all. The fact that we are even debating this is evidence of the credibility they lost when they didn't stick to what they previously disclosed, even though that worked to the benefit of some here.
So, yeah, as of right now, these should be winners, with a published Mintage Limit of 60K. For now at least, the market agrees, as evidenced by a HHL of 1, reduced from an initial 3, and the fact that subscription orders are closed.
It shows mintage limit of 60,000 here.
ATS now showing. ATS = 10,000. It was showing zero in the previous weeks. Is it possible there are 50,000 accounted for through subscriptions? This could get interesting.
This is going to be the mint waiting room for the few available.
But, again, that's the generic subscription page. I'm not saying it doesn't mean it's 60,000. But, I haven't seen an actual announcement and the details on the specific 2026 page is still blank.
All comments reflect the opinion of the author, even when irrefutably accurate.
Not to worry, just bring some extra cash to grease the palms of the Mint officials at FUN.
Nothing is as expensive as free money.
If the mintage limit is actually 60,000, I agree it could be a "winner". With an issue price of $97, something tells me it isn't.
The Mintage Limit is indeed 60K, and they do indeed look like winners, regardless of @jmlanzaf's nitpicking over what has been announced, and on what page of the Mint website. Not to say the Mint won't do something something different from what they have published, since they have done that multiple times in the recent past, but this is what the Mint is saying as of now.
And people are reacting to it, as evidenced by the HHL for subscriptions being reduced from 3 to 1, subscriptions being closed, even at that reduced number, and ATS being reported at 10K, implying that is the amount reserved for sale at release, and that 50K are already spoken for through subscriptions and ABPP. Don't go by the $97 price on the web, because that price has not been adjusted since silver was trading in the $30s. Expect a huge jump for 2026 before anything is actually placed on sale, given the current price of silver.
Whether or not a new price approaching, or even possibly exceeding, $200 puts a big enough dent in demand for a Philadelphia proof ASE with a Mintage Limit of 60K to prevent a sell out is the only real question, and the answer to that is a huge TBD.
Because, as we all know by now, numismatic premiums shrink as the intrinsic value of the coins increase. So anyone thinking an ASE with a mintage of 60K at $97 will be a home run, based on previous releases, has to rework the numbers at $200, because we don't know what the excess numismatic premium for such a release would be in the secondary market if the Mint is taking $130 off the top, based on $70 silver.
So, as I said, TBD. I have no way to know for sure whether $200 will be the number, but my best guess is that will be close to the actual number. I can, however, guarantee, based on Mint pricing from the past dozen years or so, that limited mintage silver numismatic product is not going to be issued by the Mint in 2026 at anything close to a 35% premium to spot. It will be a very significant multiple above that.
If the mint were to raise the price of the coin to $200, they would lose nearly half of the silver eagle collectors. Since the 2020W V75 sells for about $350, that one might fall to $250 and this would be up to maybe $350, which is a dramatic fall on a percentage return. All of the current silver eagle coins that they have listed at $91 would sell out prior to the increase, but few would go forward with collecting the series further.
If silver then fell back under $50 a troy ounce, the $200 price would almost halt all sales completely until it was adjusted back down again. And by then many collectors will have moved on, and it is hard to get them back.
You call me out (for no reason), criticize me for nitpicking and then RAISE EXACTLY THE SAME ISSUE THAT I DID. What a joke.
All comments reflect the opinion of the author, even when irrefutably accurate.
Don't go by the $97 price on the web, because that price has not been adjusted since silver was trading in the $30s. Expect a huge jump for 2026 before anything is actually placed on sale, given the current price of silver.
This makes sense.
At $200, I don't think it will be much of a "winner". I don't think it will be as "popular" as the V75. Don't even remember how many privies there are now (one or more than one) and don't see much of a difference between the mintage of 60K and numerous others. There is only one "key date" in the "regular" ASE proof series and it's by reputation only.
The only thing you are describing is that the collector base doesn't really like it that much, just as they don't for practically all other (US) NCLT. That's what I have told you in numerous posts.
Yup. That is said every time silver goes up, followed by a big increase in Mint pricing.
Sales fall initially, and then the market adjusts. The Mint does not seem to appreciate the fact that numismatic premiums shrink as precious metal prices increase, and that has caused all of the precious metal numismatic product volumes to be lower than in years past.
The pricing for silver numismatic product right now is very reasonable, but has not changed since silver was in the $20s and $30s. Pretty naive to not expect it go up a lot with silver now in the $70s.
If they cared about volume, instead of profit, the pricing would not have been where it has been for years now. They will reprice, likely to something between $180 and $220.
Silver would have to not only retreat to $50 or below, but also stay there for a while, and sales would actually have to grind to a halt, for them to lower the price. I think that might have happened like once in the past 30 years ago.
So, unlikely, but not impossible. What IS impossible is expecting them to control themselves with the upcoming price increase, given silver's historic move over the past year, and given all the once in a lifetime goodies they have planned for us this year.
I don't disagree. That's why it's a huge TBD. The Mint ignores the fact that the secondary market numismatic premium shrinks when precious metal prices increase when determining its own pricing.
I just don't expect that to change now. For years now, they have been willing to accept lower volumes, and lower profits as a result, in order to maintain per unit margins.
As a result, people have clearly been all over this at $97, expecting it go for $200+ on eBay. At $200, the question is whether 60K of a one ounce Mint product will sell for a premium above that. And no one knows, because we've never been here before. So, TBD.
I didn't raise the EXACT SAME ISSUE. My issue is about them not sticking to what they say. Not with them not saying anything, because they didn't say it in the precise form, in the precise place, that you want to see it.
That is you nitpicking. They very clearly say on the subscription page, if not on the individual product page, that the 2026 Philadelphia Proof ASE will have a Mintage Limit of 60,000, with no Product Limit. Which, in the Queen's English, means no more than 60K 2026-P proof ASEs.
Unless they change it, and make either 30K or 600K, because recent history suggests they don't feel bound by what they publish. Which is separate and apart from claiming they did not publish a Mintage Limit for these.
So now you're nitpicking about the nitpicking.
Look in the mirror. You see me.
All comments reflect the opinion of the author, even when irrefutably accurate.
They like it at under $100, not at $200.
The price is up on the product page at $97, so many people have subscribed at that price. Raising it to almost $200 would be insanity, even for the mint.
It's not a significant difference, except primarily to financially motivated buyers. it's roughly the cost of lunch or dinner for two at a "mid-priced" restaurant, if that.
Your sentiments make sense in the context of financially motivated buyers assembling a “diversified portfolio” of collectible “widgets”, but not collectors who actually find interest in what they are buying as a hobby.
Silver is up about $40-$50. I don't see them raising the price $100. The $97 already includes the cost of manufacture and handling.
All collectors of proof silver eagles should be interested since this will possibly be the second lowest mintage coin of the series. Anyone who is strictly buying for investment alone in quantity should be in the bullion silver eagles.
The mint should be happy as it increases sales if they hold prices where they are, just like what happened with the platinum proof coins.
Well that certainly sounds elitist. 🫤
There are plenty of collectors who are price conscious who "actually find interest in what they are buying as a hobby."
Personally, I mostly got out of the Silver Eagle game several years ago because it got too expensive to chase an ever-increasing number of contrived collectables. I'd rather spend on other things that are more interesting to me.
I do!!! 😀
Nope. Happens every time there is a price adjustment. People will receive notifications and an opportunity to cancel. And, if they miss that, they can return for a refund when the charge hits their credit card.
We have been here before. Those of us who are paying attention know exactly what's going to happen. I don't know the exact price, because I don't work there and I'm not on the speed dial of anyone who does, but 2026 numismatic silver is not going to be sold by the Mint at anything close to $97 per ounce.
The fact that they pushed the release date of these and the regular proofs back, and as a result will have nothing new for sale at FUN, should be your first clue that I am probably right here. They are going to raise it to wherever they are going to raise it. Silver is up $42.50, to $73.32, from $30.80 on July 9, 2024, the last time silver numismatic product was repriced.
Silver spot is up 140% from July 2024. The last time the Congratulations Set was repriced, the price was 215% above spot. Not 215% of spot, but 215% above spot. 315% of spot. Do the math.
If they stick to the same percentage, based on $70 silver, we are looking at $220. I think that's a little on the high side, and $180 would be low.
Don't be shocked to see $91 go to $191, $95 to $195, and $97 to $197. Just a guess, but an educated one.
If people cancel or don't buy, I don't think the Mint will care. I just don't think they are all of a sudden going to be reasonable here. I think we benefited for the last few months because silver went up far and fast, and because the Mint hedges silver costs. Unreasonable to think the hedges go beyond a year, or that the Mint won't use the calendar changing to its benefit even if they do.
Just notice, based on the level of the last reprice, that silver went up around 150% in 2025, and the coins are still around $25 above spot. That's the margin the Mint gives itself when it reprices. Again, just do the math.
And yet, they didn't leave those prices alone when hundreds of coins came back. Did they? They do what they do. They don't care about profits. Haven't for years, as they have killed sales volume, and profit, chasing unit margin.
The mint appears to be backlogged right now, that is why the products are late. It has nothing to do with the price of silver. I'm guessing they have fewer employees, and have dialed back the number of products as a result.
Yes the mint can change the price of products, but they will also be changing the buying behavior of customers as well. As gold prices have climbed, actual mintage numbers have fallen dramatically. The same will happen with silver if they go crazy with high pricing.
What is the current wholesale premium for Silver Eagles to distributors? How can it be so low by comparison? Why was the collectors version premium so high to begin with?
If the mint did raise the price to $200, it would essentially kill off all past collectors, and completely reset the whole series going forward, especially if the price of silver collapsed back down. It would only be good for people that want to buy low mintage,as we will get flooded with them as the market resets.
From the mint product subscription page:
"Subscription Policy:
Prices listed on the subscription page are current for the products included in your subscription. These prices may change during the course of your subscription. Should a change occur, the new price will be provided on your 30-day pre-fulfillment email notification."
It sounds like they had to make a price change prior to the 30 day notification, otherwise the price listed will be what is eventually charged at shipment.
That's not how they operate.
They factor in the replacement cost of the precious metals as well, not just what they may have purchased it for.
So, if there is, what they consider, a significant increase in that, they will raise the price as well. And, it's not usually the same amount to increase. They have a factor built in above that...profit level, fudge factor, whatever you want to call it. So, do expect a nice sized increase when it gets close to time for them to make the product available.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Shipping date notice; Estimated Price $97.00
Shipping Date: 02/26/2026
Sure. Has anyone received a 30-day pre-fulfillment email notification for the 2026 Congratulations Set yet????
If not, any idea why????? 😀
"Estimated Price"? Why not "Price," if it's locked in?
So now the HHL is down to 1...and subscriptions are closed.... I have a subscription for 2....now what?
Will they:
a) Adjust my order to 1
b) Still send me 2 or
c) Penalize me for not adhering to their rules and void the entire order?
a)
I made sure a couple of months ago when these were 1st announced and loaded my subscriptions to a higher number. I don't like depending on the lotto and the waiting room for US Mint issues.
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Sent to me on 12-19-2025 the monthly digest that has the pricing. Not sure if it qualifies but it is one month prior to release.
My subscription is for 3. I'm sure it will be adjusted to one by the Mint. Don't sweat it!
Does not count. It's not a pre-fulfillment notification.