American Silver Eagle Proofs are in huge demand these days. Numerous enthusiasts have proudly created complete sets of the series, made up of every single particular date obtainable.
When the newest American Eagle silver proof was introduced late this past year, on November 19, 2010, it could be bought for $ 45.95 from the U.S. Mint. Every single household had been stringently restricted to ordering a total number of one hundred coins.
Demand from the public was very strong, to say the least!
During 1st hours following the coins launch, the U.S. Mint suffered a multitude of problems via clients who tried to buy from the website or even by using their toll-free number.
The proof silver eagle was sold out by the end of December, as it sold out almost immediately.
834,879 coins have been purchased based on one of the most latest sales record from the U.S. Mint!
In light of the fact that the premium that you pay is quite a bit more than the exact spot price of silver, you have to ask yourself why the demand from customers with regard to these coins is actually so substantial.
Are the proof versions really worth the additional amount you pay?
I resolved to do some investigating. . .
First, let us examine just what tends to make this particular coin so exceptional.
1. Each coin is composed of approximately 1 ounce. of .999 fine silver.
2. If you glance closely at one, you will notice immediately their particular extraordinary splendour, super distinct relief, and a background which is nearly mirror-like. They have a unique cameo effect due to their frosted, sculpted foregrounds.
3. To realize all this fantastic splendor, the silver eagle proof coin is made via a specialized minting practice.
4. All this starts when a burnished silver coin blank is pressed, and then fitted with exclusive dies.
5. To be able to give the detailed images the sensation of floating above a reflective field, it is then struck numerous times.
6. After rigorous examination, the coins are ultimately sealed in a protective plastic capsule.
7. Last but not least, they are mounted in a stunning presentation case that is covered with blue velvet. Inside, the case is lined with satin and includes an authenticity certificate that is signed by the Director of the U.S. Mint.
Thus all that additional manufacturing expense, time, labor, effort, and so on. is factored into the price of the proof eagle. That’s the reason for the extra premium.
Additionally it is crucial that you take note that the proof version has never been handled by human hands and that is why they are so highly valued and are valued at in excess of their common bullion comparable version.
And so now we understand the reason for the excess premium. Nonetheless, are the proofs worthy of the additional expense?
Not too long ago, I did some research on the popular auction website, eBay, to attempt to discover the recent sell prices for the the year 2010 Silver Eagle Proofs.
Just what exactly I found was the fact that sell amount differed, based upon the grade of the coin – if it was PCGS PR70 First Strike or PR69, etc. When this particular post was written, the typical sale price seemed to be about $ 60.00.
That’s an increase of greater than thirty % since their November 19th launch day. (Please be aware: the price of silver may have risen or decreased at the time you’re reading this specific post therefore present-day auction prices could be more or less, based upon the spot price of silver).
If, you’d purchased a normal bullion silver eagle on the exact date, using the closing price of $ 27.35. You would presently have a gain of merely 9.69%!
It’s also intriguing to observe that special edition silver proof coins such as the 1995-W Proof Silver Eagle and the 2006 Reverse Proof are generally valued at actually far more!
The 2011 Proof Silver Eagle coins won’t be available for sale from the U.S. Mint until July 6, 2011. And even though you can no longer order the 2010 Silver American Eagle Proof coin through the U.S. Mint’s website, they are still available for sale at: http://BullionBargains.us