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2009 Silver Eagle Proof (updated question)

TrustNo1TrustNo1 Posts: 1,359 ✭
in Precious Metals
Does everyone buy the mint explanation of not having enough silver?? Seems theres tons made by the mint this year...does it sound fishy to hear they didnt have enough? Edited to add: : : Is it possible we have seen the end of the Silver Eagle Proof program??

Comments

  • CaptHenwayCaptHenway Posts: 32,227 ✭✭✭✭✭
    They claim that since they have to make the bullion pieces to meet the demand for them, and they are selling every one they make, they cannot divert 800,000 blanks to a Proof coin program.

    Bulloney!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OPAOPA Posts: 17,124 ✭✭✭✭✭


    << <i>They claim that since they have to make the bullion pieces to meet the demand for them, and they are selling every one they make, they cannot divert 800,000 blanks to a Proof coin program.

    Bulloney! >>



    Agree ... what a bunch of hrse janure .... They said the same thing about the Proof Gold Eagles, but yet managed to produce almost 80,000 gold buffs in less than 2 weeks.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CaptHenwayCaptHenway Posts: 32,227 ✭✭✭✭✭
    DIfferent planchets....22kt vs. 24 kt.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>DIfferent planchets....22kt vs. 24 kt.
    TD >>




    Tom, I may be wrong, but I think I heard/read that the U.S. Mint outsouces (Perth?) production of gold planchets. Is the same true of the silver, or is that done in house?
  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    They feel compelled to make some cheesy SILVER 5 oz. replica National Parks Quarters, but decide to trash a wildly-popular and symbolic program that serves their largest collector base. I say fire them, especially Moy.

    Let's remember, this is a Mint decision - this buck can't be passed off onto Congress.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OverdateOverdate Posts: 7,016 ✭✭✭✭✭
    Weren't the 5 oz. silver quarters mandated by Congress? Same as First Spouse?

    My Adolph A. Weinman signature :)

  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    Weren't the 5 oz. silver quarters mandated by Congress?

    I just looked it up. I stand corrected. But the rest of my comments still stand.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CaptHenwayCaptHenway Posts: 32,227 ✭✭✭✭✭


    << <i>

    << <i>DIfferent planchets....22kt vs. 24 kt.
    TD >>




    Tom, I may be wrong, but I think I heard/read that the U.S. Mint outsouces (Perth?) production of gold planchets. Is the same true of the silver, or is that done in house? >>



    I don't know. THe Mint was getting some silver eagle planchets directly from Sunshine, but it is possible that the production has exceeded Sunshine's capacity and part of the work is being done in Perth. I did see a video on the Perth Mint's operations recently and there was a clear shot of a box of planchets marked "U.S. Quarter Dollar Silver." It was shown in a thread, either here or on the U.S. Coins Forum. Do a search in both for "Perth."

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • CaptHenwayCaptHenway Posts: 32,227 ✭✭✭✭✭


    << <i>Weren't the 5 oz. silver quarters mandated by Congress?

    I just looked it up. I stand corrected. But the rest of my comments still stand.image >>



    The idiotic five oz. silvers are the fault of Congress.
    The idiotic decision to not make Proof silver eagles is on Moy's head.
    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OverdateOverdate Posts: 7,016 ✭✭✭✭✭
    Not to totally defend the Mint's position, but I think political reality may be a factor here. To me this seems like a partial replay of the 1964-1967 situation, except with bullion coins rather than circulating coins.

    Back in the mid-1960s, a coin "shortage" developed that was blamed on collectors. Political pressure was applied for the mint to increase production of circulating coins rather than catering to "collectors" who were supposedly causing the problem. In response, proof set production was suspended for three years and replaced by "special mint sets" of lower quality with about half the proof set mintage.

    Today we have a "shortage" of bullion gold and silver coins. The Mint is under legal mandate to meet demand for bullion gold and silver eagles, to the best of its ability. It is not under legal mandate to meet collector demand for proof coins. If the Mint issues proof gold and silver eagles anyway, it could face criticism from Congress for catering to "well-heeled collectors" while ignoring its primary responsibility to meet the demand for bullion coins. Given the precedent of the 1964-1967 experience, I think this exactly what would happen.

    My Adolph A. Weinman signature :)

  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    I bet PCGS is already planing on making the uber HUGE PCGS mega slab to hold the 5 ouncer. NGC already makes the MEGASLAB (TM).image
  • OPAOPA Posts: 17,124 ✭✭✭✭✭


    << <i>I bet PCGS is already planing on making the uber HUGE PCGS mega slab >>



    Will it be called the: PCGS Über Alles?image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭


    << <i>

    << <i>DIfferent planchets....22kt vs. 24 kt.
    TD >>




    Tom, I may be wrong, but I think I heard/read that the U.S. Mint outsouces (Perth?) production of gold planchets. Is the same true of the silver, or is that done in house? >>



    I believe that the planchets for 22k AGEs, by law, have to be produced with newly mined gold from US mines. This is not the case with the 24k coins. If I'm not mistaken, these are purchased from Gold Corp. aka Perth Mint.
    ASE blanks are also outsourced. I think that these come from Sunshine Minting (maybe others?). Traditionally, although not mandated by the enacting law, the Mint has been supplied with Ag blanks from US newly mined sources. I don't know wheither or not this is still the case however.
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • TrustNo1TrustNo1 Posts: 1,359 ✭
    does NGC megaslab hold a 6oz + 1988 Young Astronaut silver??? has anyone seen these slabbed by any chance? btw, I think theres more to the Mint's decision than just silver shortage..just not sure what
  • SpaceMonkeySpaceMonkey Posts: 3,311 ✭


    << <i>does NGC megaslab hold a 6oz + 1988 Young Astronaut silver??? has anyone seen these slabbed by any chance? btw, I think theres more to the Mint's decision than just silver shortage..just not sure what >>





    they certify Kilo Silver .... seen it in person ... insanely large. you feel like Alice in Wonderland. image


    -sm
    image

    The Maddy Rae Collection
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  • CaptHenwayCaptHenway Posts: 32,227 ✭✭✭✭✭
    As Dave Barry would say, I am not making this up!

    A long-time dealer on our dealer-to-dealer network posted this message this afternoon:

    "Just had a call from a lady that the Mint told her
    to call her local coin shop for 2009 Proof American Silver Eagles
    Because they were not going to make any---Da** does that
    mean we can make are OWN this year
    Dave @ His & Hers"

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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