Options
First 2007 thread of 2006 W-Uncs (Gold & Plat)
COINB0Y
Posts: 4,505
US Mint has a nice Slide Show that is about 1-2 years old, but offers up some neat tidbits and clues.
MINTY
I believe it helps explain why the W-Unc Plat Mintage was what it was:
1.) Currently, the United States Mint at West Point is the sole manufacturer for the American Eagle program. (Slide 36)
2.) "For a variety of reasons, including price fluctuation and the need for a two-way (buy and sell) market, the United States Mint does not sell uncirculated bullion coins directly to the general public." (Slide 38)
-We know this changed in 2006 as they went around the Dealers to sell a new offering directly to the public.
3.) What was done (besides adding a "W") in the manufacturing process that allowed the new product to be differentiated for the Mint's marketing pitch in justifying consumers to purchase these new coins?
Answers:
Proof planchets were USED for BOTH runs, W-Proof and W-Unc.
A Proof planchet that yields a W-Proof gets (5) strikes @ 200 tons (this fact was on last nights show).
A Proof planchet that yields a W-Unc gets a REDUCTION in the number of strikes for the final product, perhaps only (3) strikes @ 200 tons.
From a manufacturing point of view this makes complete sense, i.e. uniform, raw material (all planchets are proof-strike-ready, but struck more or fewer times, depending upon desired product mix.) This ALLOWS the W-Proof and W-Unc series to be struck on the same production run, eliminating a separate set-up cost. It really makes perfect economic sense.
This dual planchet idea helped with the justification the Mint used for consumer sales which had the new 2006 W-Unc series (Gold & Plat)positioned as a "mid-priced product", both in QUALITY AND PRICE, between the Proof Market and the Dealer Bullion Market. I don't think the Dealers were too pleased about splitting the Eagle Market from 2 to 3 segments.
4.) Evidence of uniform planchet usage: (Slide 49) "Now let’s take a step back to the point at which the manufacturing process diverged for proof and bullion planchets. We saw that proof planchets go through a burnishing cycle. Uncirculated bullion planchets are not burnished; instead, they travel directly to the striking room."
- Not this year!
Evidence of uniform planchet usage: The Mint Changed this Process with 2006 W Unc as taken from the 2006 US Mint Plat American Eagle Sales Site - "2006 marks the inaugural year of the American Eagle Platinum Uncirculated Coin Program. Struck on specially burnished blanks, these coins offer precious metal purchasers a new collectible version of the popular American Eagle Platinum Coin. "
Evidence of uniform planchet usage: The 2006 US Mint Gold American Eagle Sales Site says same as Plats "Struck on specially burnished blanks, these coins offer precious metal purchasers a new collectible version of the popular American Eagle Gold… "
5.) Oh yeah and finally - "The display boxes are packed into shipping cartons and sent to our warehouse. From there, ordered coins are shipped to the customer." (Slide 48) - It appears once boxed at WestPoint, inventory is shipped immediately to Memphis. ONLY Dealer Bullion is tubed and housed at WestPoint (see slides 50-52)
I suspect that the inventory fills many here are posting about for the last few days are really back-orders waiting for the returns STILL in the physical re-process area of inspection, re-packaging, re-crediting, re-stocking after return from customers within the 30 day period. ericj96's excellent paper talks about the inventory/sales descrepencies because of returns.
With the record number of Eagles minted at WestPoint this year across the entire line (Gold, Silver, Plat), and the subsequent sell-outs, there is no chance in Hades that anything but getting ready for a big 2007, was being done at WestPoint at the end of 2006.
Have a great 2007!
MINTY
I believe it helps explain why the W-Unc Plat Mintage was what it was:
1.) Currently, the United States Mint at West Point is the sole manufacturer for the American Eagle program. (Slide 36)
2.) "For a variety of reasons, including price fluctuation and the need for a two-way (buy and sell) market, the United States Mint does not sell uncirculated bullion coins directly to the general public." (Slide 38)
-We know this changed in 2006 as they went around the Dealers to sell a new offering directly to the public.
3.) What was done (besides adding a "W") in the manufacturing process that allowed the new product to be differentiated for the Mint's marketing pitch in justifying consumers to purchase these new coins?
Answers:
Proof planchets were USED for BOTH runs, W-Proof and W-Unc.
A Proof planchet that yields a W-Proof gets (5) strikes @ 200 tons (this fact was on last nights show).
A Proof planchet that yields a W-Unc gets a REDUCTION in the number of strikes for the final product, perhaps only (3) strikes @ 200 tons.
From a manufacturing point of view this makes complete sense, i.e. uniform, raw material (all planchets are proof-strike-ready, but struck more or fewer times, depending upon desired product mix.) This ALLOWS the W-Proof and W-Unc series to be struck on the same production run, eliminating a separate set-up cost. It really makes perfect economic sense.
This dual planchet idea helped with the justification the Mint used for consumer sales which had the new 2006 W-Unc series (Gold & Plat)positioned as a "mid-priced product", both in QUALITY AND PRICE, between the Proof Market and the Dealer Bullion Market. I don't think the Dealers were too pleased about splitting the Eagle Market from 2 to 3 segments.
4.) Evidence of uniform planchet usage: (Slide 49) "Now let’s take a step back to the point at which the manufacturing process diverged for proof and bullion planchets. We saw that proof planchets go through a burnishing cycle. Uncirculated bullion planchets are not burnished; instead, they travel directly to the striking room."
- Not this year!
Evidence of uniform planchet usage: The Mint Changed this Process with 2006 W Unc as taken from the 2006 US Mint Plat American Eagle Sales Site - "2006 marks the inaugural year of the American Eagle Platinum Uncirculated Coin Program. Struck on specially burnished blanks, these coins offer precious metal purchasers a new collectible version of the popular American Eagle Platinum Coin. "
Evidence of uniform planchet usage: The 2006 US Mint Gold American Eagle Sales Site says same as Plats "Struck on specially burnished blanks, these coins offer precious metal purchasers a new collectible version of the popular American Eagle Gold… "
5.) Oh yeah and finally - "The display boxes are packed into shipping cartons and sent to our warehouse. From there, ordered coins are shipped to the customer." (Slide 48) - It appears once boxed at WestPoint, inventory is shipped immediately to Memphis. ONLY Dealer Bullion is tubed and housed at WestPoint (see slides 50-52)
I suspect that the inventory fills many here are posting about for the last few days are really back-orders waiting for the returns STILL in the physical re-process area of inspection, re-packaging, re-crediting, re-stocking after return from customers within the 30 day period. ericj96's excellent paper talks about the inventory/sales descrepencies because of returns.
With the record number of Eagles minted at WestPoint this year across the entire line (Gold, Silver, Plat), and the subsequent sell-outs, there is no chance in Hades that anything but getting ready for a big 2007, was being done at WestPoint at the end of 2006.
Have a great 2007!
0
Comments
<< <i>Thanks COINB0Y. You are a great addition to the forum! >>
JT
great tools for anyone wanting to know more about coin production.
Also, very educational regarding different metals used, how the
planchets are cleaned and prepared for striking. Awesome stuff!
My favorite statement........" the United States Mint does not sell
uncirculated bullion coins directly to the general public." (Slide 38)
There's a first for everything including the Mint!
Another "History in the Making" Kodak moment
for all of us who got the W-Plat Uncirs.
Thanks for sharing Coinboy!
I believe the USM, based on all information many members have heard and posted, learned thier lesson with the AGE and ASE sets and have not oversold the current Platinum and Gold Unc Sets. This is a good thing, however, may leave some sets unsold and subsequently melted because of various billing issues, etc.
Happy New Year all.
That goes without saying, I am also saying that to save money and not have seperate runs, the Mint used the same proof-grade planchets and then just struck them a different number of times depending upon the product desired.
In the past the Gold and Plat Dealer Bullion Unc's used un-burnished planchets.
Look at what they are doing at the Coin Vault on the Shop At Home Network
Just type in Platinum Eagle
The Dealer Unc Platinum (No "W") with Eagle on reverse - @ $4,299
The W-Unc Platinum with Legislative Muse on Reverse - @ $4,999
They price the Dealer Unc Platinum (No "W") just low enough of the W-Unc to get someone to pounce on it. I just wonder how many poor saps end up buying the plain Dealer stuff thinking it the rare mintage?
Yes, the reverses are different beyond just the "W" that was struck.
The 2006 Dealer Unc Platinum (No "W") with Eagle on Reverse - @ $4,299
The 2006 W-Unc Platinum with Legislative Muse on Reverse - @ $4,999
For the Gold versions, 2006 Dealer Unc Gold (No "W"), 2006 "W"-Unc Gold and the 2006 "W"-PROOF Gold, all (3) 2006 mintages use the SAME reverse.
I knew it would happen.