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Are The Dates On The Silver Eagles Worthless On Bullion

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Valued Member

United States
99 Posts
 Posted 03/27/2015  11:01 pm Show Profile   Bookmark this topic Add iamwayne to your friends list Get a Link to this Message Number of Subscribers
Since silver eagle, bullion version, are sold based on spot price+$2 from the mint for that current minting year, how can a silver eagle be sold for less than the lowest spot price in the year it was minted. IE: 2012 silver eagle average spot price was $31 but can be purchased for way less in 2015.

People say bullion versions are not numismatic, if so why are there dates on them, if they are not based on that particular years spot price?

I know some will say it can always be sold for more, a 1990 silver eagle sold for more in 2015 but because the spot price has increased at that particular sale date so the date minted on the silver eagle is irreverent.

I know the date is suppose to show when it's minted but at the current way of buying/selling based on current spot price, are the dates not irreverent?

If taken off the bullion version buying and selling price method will not change.

Collectors will say its' prices are based on the mintage amount but that makes it a numistatic item and not bullion item. Why call it a bullion coin?

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Bertensgrad's Avatar
United States
1192 Posts
 Posted 03/27/2015  11:25 pm  Show Profile   Bookmark this reply Add Bertensgrad to your friends list Get a Link to this Reply
It it didn't have the date or the denomination it wouldn't be any different then just a round. Yeah there isn't any much difference though they are bullion, it's why I don't want to collect them.
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Sap's Avatar
Australia
16827 Posts
 Posted 03/28/2015  12:01 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Silver, like oil, is a fungible commodity. That means that, for someone who is interested only in using the silver for industrial or commercial purposes, one piece of .999 fine silver is just as good as any other piece and you can swap them around and nobody would really know or care. So, from a bullion dealer's point of view, a 2015 ASE is identical to a 1990 ASE.

It's only us, the weird "coin collectors" who think certain pieces of silver are somehow "different" or "special" or otherwise worth a premium over bullion value. Dates and mintmarks are just two of the reasons we've found for differentiating them.

Of course, this too comes down to supply and demand. If large numbers of collectors are not pursuing ASEs by date-and-mintmark, then there is no "demand" for specific years and "rare years" will not attract much if any premium over "common years".
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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GR58's Avatar
United States
11951 Posts
 Posted 03/28/2015  12:11 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
Your kidding right

There are even bullion rounds ...with dates.

Having a date has nothing to do with locking in a price.

As much as it is said on here, the mint is not a business.
The U.S. Government has non compete laws. So they
could not make plain bullion rounds.

But they can make coins. They were started, for a way for the
Government to get rid of the stockpile of silver. Because it was
such a popular program ....meaning a large amount of citizens
want them, the program has continued.

For the mint to make any coins, there are certain requirements,
one of them is it has to have a date.
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ChildOfTheWheat's Avatar
United States
5828 Posts
 Posted 03/28/2015  09:21 am  Show Profile   Bookmark this reply Add ChildOfTheWheat to your friends list Get a Link to this Reply
Yep, the US mint is required to have a date. There ya go.
Valued Member
United States
99 Posts
 Posted 03/28/2015  09:40 am  Show Profile   Bookmark this reply Add iamwayne to your friends list Get a Link to this Reply
http://www.gpo.gov/fdsys/pkg/STATUT...99-Pg113.pdf
Original states:
(g) For purposes of section 5132(a)(1) of this title, all coins minted under subsection (e) of this section shall be considered to be numismatic items.

The date requirement is:
31 U.S. Code § 5112 - Denominations, specifications, and design of coins
(d) The coins have an inscription of the year of minting or issuance.

Why is it considered bullion if it is legally marked as numismatic. Besides being coined on silver planets, how come they are not treated like a morgan or Peace dollar?
Edited by iamwayne
03/28/2015 09:50 am
Valued Member
United States
99 Posts
 Posted 03/28/2015  09:48 am  Show Profile   Bookmark this reply Add iamwayne to your friends list Get a Link to this Reply
Never mind I think I answers my own question. If I cannot easily trade a 2015 silver eagle for a 1996 silver eagle it's a numismatic. Bullion is easily traded regardless of year, pamp bars.
Edited by iamwayne
03/28/2015 09:49 am
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