Much of the talk in the coin business and on Internet forums has been swirling around the recent release of the 2017 “Congratulations Set” from the United States Mint. According to reports, the set-which had a product limit of 75,000-sold out in two minutes when it was put on sale on April 4th. The significance of the set is that it includes a 2017 proof Silver Eagle minted in San Francisco, while the regular-issue 2017 proof Silver Eagle is minted at West Point.
The 2017-W released in late March has no mintage limit. It is widely agreed that the Silver Eagle is the most widely collected modern U.S. coin so the demand from those wishing to have complete up-to-date sets was anticipated from market makers. The main gripe from the collecting public is that the set was released with no purchase limitations, unlike previous limited releases which had limits of two per household. Ironically, products with much higher mintages, such as the centennial gold coins of 2016 had such ordering limitations. In any case, the 2017-S proof Silver Eagles are trading for a significant premium over their $54.94 release price. Collectors still wishing to acquire a 2017-S proof Silver Eagle directly from the Mint can wait and attempt to purchase a 2017 limited edition Silver Proof Set to be released later in the year. However, the same difficulties may be encountered when that product is released. Regardless of one’s personal feelings, these issues continue to be a source of capital entering the market. This continued demand is among the driving factors as to why we have added certified Silver Eagle pricing to the Bluesheet. We encourage your feedback on our ASE pricing. Please send your email to: email@example.com
Shortly after the Baltimore Expo activity and related auctions, Heritage held a large sale at their Dallas offices from April 4th through the 6th. The auction boasted a very high sell-through rate and over $9.8 million in prices realized, as virtually all the coins were sold with no reserve. Price realizations were mixed and this auction could be described as a dealer sale with many of the lots bringing wholesale levels.
This week we have extensive pricing updates for Mercury dimes and Buffalo nickels. Morgan dollars, Franklin halves, and Saint-Gaudens have been updated with the most recent auction results. A number of downward adjustments can be observed in Deep Mirror Proof like dollars.