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2017-W Burnished Gold Eagle Mint Report
jmski52
Posts: 22,416 ✭✭✭✭✭
Sales are now at 5,853. The lowest mintage date 1 oz. Gold Eagle is the 2012-W Burnished coin with a sales number of 5,829.
I wonder how many of the 2017-W Burnished coins will be returned now that they've gone dark?
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
1
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Those folks who timed the closing of the coin perfectly and bought over 1,000 coins in the final couple weeks might want to consider returned 25 pieces. Lol. Just my 2 cents.
Wondercoin.
It's kind of too late to return them by now.
Deja vu 2016 NPS gold unc.
Exactly!!!!
2012 may remain key for a long time now that these are more on folks' radar.
I agreed!
Will the sales figures be adjusted when returns come in? I did not know that... I thought sales figures were only representative of initial sales.... I do not recall seeing adjusted figures to account for returns. @RogerB , do you know if returns are subtracted from sales numbers?? Cheers, RickO
Total sales is everything that goes out the door. As the dust settles with time, they deduct returns (w/o exchange), undeliverable and other pieces such as defective/damaged, reserved for review, internal use and assay.
Final adjusted sales should be only pieces actually sold. Mintage might be reported as somewhat higher to account for reserved pieces. This might include examples donated to the NNC and Mint quality control - none of which would ever be available to collectors.
It could take months to get to the final numbers, depending on requirements of the enabling legislation, and production Q/C needs.
Months? Months would actually be phenomenal. We do not have finals for some coins that are now 4 years old.
I believe the 2017 W $50 burnished gold eagle will have a lower mintage than the 2012 w $50.
Apparently somebody with a lot of money agrees with me as well, as they bought every NGC MS70 early release on ebay under $2500.
I don't think that the ebay sellers or buyers have caught onto the latest Mint sales numbers. When it filters out that they are higher than the 2012 the prices will drop accordingly.
Who knows what the final sales numbers will be? It could take months to years for them to come out. Until they do the 2012 will be the low mintage key. It's quite possible if not likely that even once the final numbers are out that the 2012 will still be key. Either way, whichever is lowest it won't be a deep key.
There will be returns... there will be returns! This number will be lower!
The keyed in buyers noticed the mint number adjustment on the 22nd. That being said there was a lull on the market where people didn't know what was going to happen, but that changed today. The info is already in the right people's hands.
Not sure that there will be 25 returns.
Most folks will likely hold hoping that others will return.
All speculation of course until the final numbers come out whenever that is.
It's well known that the 2016 NPS gold unc. is the current key, but the 1997 Jackie Robinson is still fetching hundreds of dollars more.
My Adolph A. Weinman signature
Now I am going to bet on Betty Ford uncirculated.
The red book doesn't agree with the NPS as the lower mintage
Martin
@RogerB ....Thanks for the information. I really have not paid much attention to mintage figures... only special gold I picked up was the 1999W $5 and $10 pieces from unpolished proof dies... Purchased them when first reported....Mintages on them -as reported - are only estimates... total not really known. Cheers, RickO
boystown ms gold is only 2209. 2 months to go. I wonder if they minted 5500 of these.
Box of 20
I held onto boystown and Lion. Anything that ugly has a future. Lol
Best place to buy !
Bronze Associate member
Suggestion: Wait at least 6 months after an issue is withdrawn from sale before trying to get a final sales/mintage figure. With the quantity of issues and differing rules for each, Mint priority has to be on production and fulfillment. Final "heads or tails" count can wait.
Do they go off sale at the end of the year?
My Adolph A. Weinman signature
These went unavailable oct. 12th. Mint has a 7 day return policy. I doubt it takes that long for mint to process returns. Plus whats the incentive to return when they are rising in price.
The better question is how many collectors are there of these?
The coin went unavailable on 10/12, but the mint doesn't ship all the coins right away. There are credit card holds and wires that still have to be sorted out. Also, the mint doesn't necessarily ship the coins as soon as they get the wire. Lastly, there is a 7 day return policy upon RECEIPT of the items from the mint.
More than 25 coins returned to the mint. My last day for returns was this Wednesday 11/1...
This is the gambling game played with a number of recent Mint issues. The Spouse and Platinum series are certainly examples of chasing the small mintages, year after year.
Sucks for those that bought at inflated prices.
Sales figures get adjusted. This is why there is the occasional drop in sales to date.
Are they really this stupid, or are they destroying the dollar on purpose?
No, not if there are still some on the shelf
Are they really this stupid, or are they destroying the dollar on purpose?
Returns would be put back up for sale and gobbled up immediately!! You can't possibly think the peeps who check the Mint website everyday at 7:30 am for retreads would let this slip by??
We will see whose hunch is correct, but really the only incentive to return a coin would be if it were banged up. Any passable example would be held onto as it is above buy price.
Currently Mint Sales are so dismal the only consistent buyers left, seem to be the low mintage / ugly design , Coin Fans.
The Mint seems to fully understand this. They are dealing their game to the players still sitting at the tables. In the end , no one wins.
There was a batch of coins that were not good. The last batch came in very very banged up. I think they were returns from previous orders. That being said, there were more than 25 coins returned. Whether the mint adjust the number right away, I do not know, but I do know there were more than 25 coins returned.
Interest in coin collecting goes in ebbs and flows, kind of like the tide. Right now it seems there is a lull in interest. I agree with what you are saying that right now it seems like the mint is catering to the low mintage fans. I think the lack of interest could be an opportunity though, but this I do not KNOW.
For some issues - such as palladium - it is likely that the production dept. will want to retain more than usual for analysis
Fair enough. I don't doubt at all the 2017 will come out lowest mintage in the final audit. I expect it. Prices are moving up nicely on this one.
Prices are flying now... Look at the ebay sales. 3 2017 W $50 gold eagle PCGS MS70 First Strikes sold at $2695 this weekend. Another 8 sold at $2500.
The information on this coin is starting to get out there.
Are you Mike? hahaha just kidding thats what he was saying that yesterday. I seen one on Ebay a PCGS grade 70 asking 5K.
However when I put in the population report there were alot graded 70 I think over 1000 of them. That tells me its all hype just my opinion.
https://www.pcgs.com/pop/pcgsnolookup.aspx?s=627528&bc=627524
2017-W $50 Burnished Gold Eagle SP
https://www.ebay.com/itm/PCGS-2017-W-SP70-50-FDOI-First-Strike-Burnished-American-Gold-Eagle-Coin/142558813960?ssPageName=STRK:MEBIDX:IT&_trksid=p2055119.m1438.l2649
Of course maybe I am looking at the wrong one.
However when I put in the population report there were alot graded 70 I think over 1000 of them. That tells me its all hype just my opinion.
You are looking at the right coin, however I think you are looking at it from the wrong angle. You are looking at the PCGS mintage report, which can be adjusted based on submissions. If a coin has a low population on the PCGS report and the value of that coin increases, then submitters will just send more coins to the grading companies. The PCGS Pop report will increase and the value of the coin decreases. If you look at the valuation of the lower PCGS pop coins they have all gone down dramatically as a result of this happening over recent years.
For example, the 1989 $50 gold eagle in PCGS ms70 was a super rare coin 5 years ago. There was 1 or 2 if I remember correctly. A few people starting putting together full sets of pcgs ms70 coins causing the demand to go up. The PCGS pop report had only 1 or 2, suggesting the supply was low, and the value of the coins increased dramatically. That caused people with trained eyes to go thru the 415,000 coins the mint made that year and locate the better examples. They were submitted for grading and the PCGS Pops increased. The population is now 25. If there were more people that wanted to collect the full set, than more coins would just be submitted...
But the amount of coins minted in the year is very significant. You can't submit what wasn't made! There are only 5,853 burnished gold eagles minted this year (before returns are calculated).
1989 vs 2017-W coins "night and day".
True MS70 1989 coins - virtually non-existent. Condition rarity at its finest.
True MS70 2017-W coins - about 1 in every 2 or 3 coins struck! No "condition rarity" whatsoever. Very Low "relative" mintage for a gold eagle based upon collector base.
Just my 2 cents.
Wondercoin.
Gluggo.... I paid about a $50 premium for my FDI 70 coins over my FS 70 coins out in the marketplace. That was, of course, before they went dark. Has the premium jumped to about $2,500 now between the labels? The market will decide. I would personally probably pay $100 or so premium now, but that's just me. If others want to pay a whole lot more, my coins will eventually find there way to the bay! Lol.
Just my 2 cents.
Wondercoin.
I like it wonder! Thank you goldman.
Yes 1989 vs 2017w are apples to oranges. I used it more as an example of how to show that the higher mintage for a given year means there are more coins available to 70 and thus is a significant number.
It is possible that many volume buyers purchase more than they want in an effort to cherry pick their order and then return the rest. Over buying for this purpose is probably more widespread than thought.
Since the Mint's return policy is only good for seven days after receipt of the product, all returns have been made. Have they all been subtracted from the sales total? Time will tell.
Are they really this stupid, or are they destroying the dollar on purpose?
5800 now. Hat tip to Goldman 86.
I have a very strong hunch there will be another drop next week... this will be the lowest minted gold eagle of all time...
53 coins seems like a lot of late returns. I got a few raw coins right after they went off sale and they'd been picked over. Candidates for ms67 or ms68 maybe. Still sold for a fair gain. Those returned coins must've been quite bad, or the buyers really picky. I thought the mint had a QC department?
Boystown and Betty Ford uncirculated will be the next.....
Does Boys Town have an official sales ending date?
My Adolph A. Weinman signature
5800 LOL, when will we get the final numbers?
For comparison it took 5 mint reports post-sellout for the 2016 $5 Parks gold uncs for the sales #'s to completely settle out. The next report will be the 5th for the burnished gold.
There are still few dealers on ebay that will sell in OGP for $1900. A good price or rip-off? Any thoughts?
Something about limited bullion ( Palladium) and mintmarked bullion ( 2017 BU AGE ) just doesn't seem where heavy interest should be.
Has the Mint considered striking and selling S minted - Lincolns lately? Those EU babies seem to be doing well. How about just plain BU by the bag and roll?