Understanding the New US Mint "Burnished" Uncirculated American Eagles
Cameo CC
Posts: 663 ✭
Well,
I just got through with a meeting on the new US Mint Holiday Collection; specifically on the Uncirculated Silver and Gold Eagles.
Based upon this and other meetings, I am presenting this here to help make sense of this release. This is only my opinion, and open to interpretation.
We now see three classes of modern coinage.
First is the Business Strike (Mint State) coinage. These are released to third party organizations like commodity houses and the Federal Reserve.
Second is the Burnish (this term is interchangeable with "Matte" and "Satin") coinage. This coinage is a hybrid between Business Strike (Mint State) and Proof coinage. These are sold by the US Mint directly to the public.
Third is the Proof coinage. These are sold by the US Mint directly to the public.
Two of these three classes (Burnish and Proof) are sold by the US Mint while the Business Strike will continue to be sold through third party organizations.
We see the development of the “Burnish” class as a result of the new “Satin Finish” Mint sets starting in 2005. In a way this “Burnish” class is half Business Strike and half Proof.
The collector will evolve there collection to include up to three of these varieties.
This understanding has helped me as I hope it helps you.
Todd
I just got through with a meeting on the new US Mint Holiday Collection; specifically on the Uncirculated Silver and Gold Eagles.
Based upon this and other meetings, I am presenting this here to help make sense of this release. This is only my opinion, and open to interpretation.
We now see three classes of modern coinage.
First is the Business Strike (Mint State) coinage. These are released to third party organizations like commodity houses and the Federal Reserve.
Second is the Burnish (this term is interchangeable with "Matte" and "Satin") coinage. This coinage is a hybrid between Business Strike (Mint State) and Proof coinage. These are sold by the US Mint directly to the public.
Third is the Proof coinage. These are sold by the US Mint directly to the public.
Two of these three classes (Burnish and Proof) are sold by the US Mint while the Business Strike will continue to be sold through third party organizations.
We see the development of the “Burnish” class as a result of the new “Satin Finish” Mint sets starting in 2005. In a way this “Burnish” class is half Business Strike and half Proof.
The collector will evolve there collection to include up to three of these varieties.
This understanding has helped me as I hope it helps you.
Todd
Todd Abbey
800.954.0270
800.954.0270
0
Comments
Here is a definition of "Matte"
Matte
A coin struck by dies that were specially treated to impart a textured or granular surface and finish to a coin.
<< <i>No records of how this special finish ($20 Gold Saint) was applied have survived; but a good guess would be that a light layer of pure gold dust was applied to both surfaces of the coin blank before striking. The force of the press would bond the dust to the blank as the blank was coined. In another test that yielded the coin shown here, Barber developed a "Matte" finish. In this case, the coin was likely struck first (more than once, in order to fully bring up what relief there was), and then "pickled," or etched in dilute acid.
The result was a coin of a vaguely medallic appearance, without all the work entailed in multiple striking. In addition to testing a concept, this experiment was directed at producing a few specialized coins that could be sold to collectors at inflated prices. >>
From the Smithsonian National Museum of American History
Here is the website: Smithsonian National Museum of American History
Satin Finish:
A matte or frosted finish accomplished by brushing or chemical means. Also called a Butler's finish.
One with a surface more closely resembling ROMAN gold than to MATTE and very close to regular brilliant-PROOFS. Most common examples of Satin finishes include some 1921 and 1922 PEACE dollars.
Honestly, the difference between these two terms is more symantics rather than meaning.
Hope this helps.
Todd
800.954.0270
2005 United States Mint Uncirculated Coin Set® Available May 31
Notice the following:
<< <i>The United States Mint has chosen the new satin finish because it is handsome and provides consistency for United States Mint uncirculated products, including the Uncirculated Coin Set, Commemorative Coins and American Eagle Silver Bullion (uncirculated) coins. The satin finish, which will be continued on uncirculated coin sets in the future, will also help collectors differentiate between Uncirculated Coins in the United States Mint Uncirculated Coin Sets and those coins in bags and rolls that have never circulated. >>
Interesting.
Todd
800.954.0270
After re-reading the mint pages, it does state that the uncirc singles is an inauguarl year program for 'burnished' planchets. Re-reading the anniversary sets pages, it does not specifically state anything about a 'burnished' planchet. Just uncirculated versions of the coins. So I'm beginning to wonder if we will have the following:
1. Regular bullion uncirculated SAE
2. Burnished Planchet uncirculated SAE
3. Proof SAE
4. Reverse Proof SAE
Does anybosy else see this or do I just need more coffee?
The name is LEE!
<< <i>Starting to get really confused here.
After re-reading the mint pages, it does state that the uncirc singles is an inauguarl year program for 'burnished' planchets. Re-reading the anniversary sets pages, it does not specifically state anything about a 'burnished' planchet. Just uncirculated versions of the coins. So I'm beginning to wonder if we will have the following:
1. Regular bullion uncirculated SAE
2. Burnished Planchet uncirculated SAE
3. Proof SAE
4. Reverse Proof SAE
That is it. Versions 2, 3 & 4 will be in the three-coin 20th anniversary sets. Version 3 is still being sold, and Version 2 will go on sale next week. Version 1 continues to be available from coin dealers.
The same setup applies to gold eagles.
TD
Does anybosy else see this or do I just need more coffee? >>
hi, i'm tom.
i do not doctor coins like some who post in here.
The 64,000 question is whether the 20th Anniversary coins will be a Business Strike coinage or whether they will be the Burnish coinage.
One will have to order both to know. The US Mint people do not know or is not releasing the information.
Todd
800.954.0270
<< <i>what's a henway? >>
About 5 pounds.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Todd
800.954.0270
<< <i>One last thought before I go back to work.
The 64,000 question is whether the 20th Anniversary coins will be a Business Strike coinage or whether they will be the Burnish coinage.
One will have to order both to know. The US Mint people do not know or is not releasing the information.
Todd >>
I hope the mint decides some way by not releasing information to get EVEN against the TPG with their First Strike™ nonsense......!!!JMO....
<< <i>
<< <i>what's a henway? >>
About 5 pounds.
Somehow I knew this was coming. Good one.
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>I just got off the phone with a reliable source that the 20th anniversary uncirculated coinage is the same as the one’s coming out on the 28th.
Todd >>
Well that is what it says on the Mints website:
"Note: The American Eagle Silver Uncirculated Coin will also be available as an individual option beginning September 28, 2006. This coin will be minted to demand.
"
Did you ask the mint official you spoke to if they plan to make these every year?
<< <i>
<< <i>
<< <i>what's a henway? >>
About 5 pounds.
Somehow I knew this was coming. Good one.
took longer than expected.
i mean i did tee it up for ya.
hi, i'm tom.
i do not doctor coins like some who post in here.
<< <i>I spoke to a senior customer service rep today. He stated they didn't know if they were going to continue the reverse proof or not. The mint is either keeping quiet, or, they really don't know. BUT, with a 24 hour sellout, I will bet they will for sure!! They can't pass up a fast million bucks or so. Ray >>
You mean they don't know if there will be a reverse proof in 2007 ?
With the record sellout of 2006 reverse proof AGE, I believe the Mint will think hard and long, and will issue the reverse proof in 2007 but with a larger quantity.
<< <i>What's to stop the mint from issuing more reverse proofs with 2006 dates? >>
Nothing unless a crowd of 1000 people show up infront of the Mint building protesting
<< <i>
<< <i>What's to stop the mint from issuing more reverse proofs with 2006 dates? >>
Nothing unless a crowd of 1000 people show up infront of the Mint building protesting
"Pitchforks! Getchyer pitchforks and torches right hyere folks!"
I have a complete set (so far) of MS silver eagles. But I do not have a set of proofs. My question is...
Do I need to get the NEW burnished type to keep my set complete?
Do you expect Dansco and others will be making albums SPECIFICALLY for the burnished type coins?
And. Is there any end in sight to either?
I'm talking strictly silver eagles here. Gold and platinum costs too much for me to even think of sets.
(Priest) BLASPHEMY he said it again, did you hear him?
"According to the United States mint, all of the 2006 W mint state coins were “Burnished”. NGC did not elect to describe them as such, because their finish is no different then other silver eagles. Also since all of them are “Burnished” there is no need to describe them as such. NGC only grades, describes and attributes coins and does not sell or regulate sales of its product on the market place, to do so would end us being a third party. If an individual and or company wants to market the product as “Burnished” and “Special” then we really have no right to tell them to stop it...."
At the bottom of the 2 and 3 piece 2oth Anniversary Coin Set Page description it stated, "Note: The American Eagle Silver Uncirculated Coin will also be available as an individual option beginning September 28, 2006. This coin will be minted to demand."
We have MS Coins and Proof Coins. The fact that the 2006W Silver Eagles were all "Burnished" does not make Burnished a type of coin. It's the "W" that distinguishes a 2006 and a 2006W. The Reverse roof is another Proof.