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 Replies: 11 / Views: 1,568 |
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Pillar of the Community
United States
781 Posts |
HI all Forgive me if this is a stupid question, but why are dealers making a big deal about graded 2023 Silver Eagles minted at (but not with mint marks from) West Point? Quote:
Exclusive "Struck At" Silver Eagles From The West Point Mint -----
The United States Mint doesn't issue bullion Silver Eagles with a mint mark—meaning collectors have no idea where their coins were struck! However, a recent discovery confirmed by the Department of the Treasury has allowed the Numismatic Guaranty Company (NGC) to certify these 2023-dated Silver Eagles with labels identifying them as being struck at the West Point Mint—placing them among the lowest mint population of the year! What am I not understanding here? I know that Philly had to step in to mint some Eagles during the pandemic, but why is the reason these were minted at West Point so special when (I thought) they were one of the usual mints for the issue? Do they usually only produce proofs? JD |
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Pillar of the Community
United States
2217 Posts |
IMO it's a marketing gimmick, it's just bullion of which millions are made. But some collectors like distinctions. They collect the special TPG labels like First Strike, First Day Issue, struck at this mint, different label designs, etc. The grade is obviously more important than where struck or the label. |
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Bedrock of the Community
 United States
12815 Posts |
 Oh yes, a big marketing gimmick for the TPGs. Generally all non-mint-marked (bullion) ASEs have been minted at the W mint. But I believe if one purchases a sealed Monster Box, the packaging indicates West Mint and thus could be safely traced back there vs ASEs minted in Philly. But you'd have to send the entire Monster Box for grading for the TPG to certify it, as far as I know. Probably a good investment if you are a dealer and can front the money for a monster box plus grading fees. What's the source of that quote? |
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Bedrock of the Community
United States
10034 Posts |
TPGs are just businesses. Their goal is to make a profit and stay in business. So any marketable idea they can come up with, they use. And while there are people who would argue the TPGs are the coin hobby's best buddy, the essay in my signature shows, using their own linked to data, the TPG marketing departments really know their stuff to have made this concept be a popular one. The more you research, the more shows up. |
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Pillar of the Community
 United States
781 Posts |
Quote:
"What's the source of that quote?" I wasn't sure if it was proper to mention the dealer's name here ;-) |
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Pillar of the Community
United States
1648 Posts |
This is just a bullion coin with another attempt to increase sales to a subset of collectors by having it slabbed with a label that is 'certified' by NGC that it was struck at the west point mint, though as a bullion coin, it does not have a mint mark on the coin itself 'W'. In this case I would avoid unless you are a collector of all things ASE, labels etc. There will be some demand for them but not like when the coin has the mintmark vs just the label. There are several dealers with each having a different label (star, eagle etc) as well to differentiate, along with MS70 and first releases usually. American Eagle proof and uncirculated coins in gold, silver, and platinum are part of normal production at west point mint. https://www.usmint.gov/about/mint-t...s/west-point |
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Moderator
 United States
95018 Posts |
Well I collect "all things ASE" and I have no plan to buy graded bullion ASE coins, makes no sense. Bullion coins are only worth their weight in silver content (spot price) plus maybe 5 to 10 dollars over. (the dealers have to make a profit somewhere) But the folks selling graded bullion are just gouging the under educated coin collector or silver stacker.... |
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Pillar of the Community
United States
2365 Posts |
West Point, Proof ASE's do not have mintages in the millions. I would be thrilled to have a 1995 W! Value depends upon mintage numbers - as many of us are aware. I haven't seen the mintage for the 2023 W yet. If it's as low as the 1995 (and others), the numismatic value will definitely increase over time. That is IF the numbers are relatively low. Overall, ASE's are highly collected and supply and demand as well as silver supply, etc. pretty much control the cost. Yes ofcourse, some dealers take that a bit too far with their pricing. Aren't we all collectors here and realize that even bullion coins have a numismatic value? They aren't just a hunk of bullion! That's in my not so humble opinion and many, many, many years collecting. "W" PROOF marked coins are a much different minting process and usually MS-70. Those are always marked with the "W". Others, even if minted at West Point are considered single strike, bullion coins. Edited by dsking
01/16/2023 10:04 pm
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Valued Member
United States
378 Posts |
A "W" for the mm, "on the coin" makes it a Burnished ASE. A "W" on the printed label only verifies the mint is was produced at. In other words, only a verified monster box shipped to a dealer, to TPG, from a particular mint location gets the MM designation, "on paper". Edited by eaglebub7
01/16/2023 11:35 pm
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Pillar of the Community
United States
756 Posts |
a big difference between these and the 1995w is that the 1995w was only available with a bunch of gold.
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Pillar of the Community
United States
2365 Posts |
Quote:
a big difference between these and the 1995w is that the 1995w was only available with a bunch of gold. I had never heard that. Back in the day folks were buying the coin only - or so they said! Now the prices are out of this world! |
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Bedrock of the Community
United States
12815 Posts |
Yes, the 1995 W was only available directly from the U.S. Mint in the 5-coin ASE/AGE set. If we all had a time machine we'd go back and buy that set.  |
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Replies: 11 / Views: 1,568 |
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Posted 01/06/2023 6:06 pm
