Anniversary celebrations continue for the American Eagle program from the United States Mint with today’s release of the 2016-W Uncirculated American Silver Eagle.
The new strike marks the thirtieth year since the inaugural release of the series and so this edition has a special "30th ANNIVERSARY" edge inscription. The lettered edge replaces the standard reeded treatment, for this year only. Congress directed the anniversary inscription as part of the larger FAST Act which was signed into law last year.
Unchanged from the past, each coin is produced to an uncirculated finish from 1.000 troy ounce of 99.9% fine silver.
American Silver Eagles were first issued by the U.S. Mint in 1986. That year saw both bullion and proof versions. Twenty years later, the uncirculated edition debuted and has been issued annually ever since with the exception of 2009 and 2010 when available blanks were reserved for bullion production.
Whether bullion, proof or uncirculated, the coins have always showcased the same obverse (heads side) and reverse (tails side) imagery. This includes Adolph A. Weinman’s iconic Walking Liberty design on the obverse with John Mercanti’s heraldic eagle on the reverse.
Uncirculated Silver Eagles are produced at the U.S. Mint’s facility in West Point and carry the ‘W’ mintmark on their reverse. Other specifications include a diameter of 1.598 inches (40.60 mm) and a thickness of 0.120 inch (3.05 mm).
For the record, recent annual sales of the coin have ranged from about 222,000 to around 254,000. Expect more than 100,000 of the new release to sell within the next few days.
Ordering
Priced at $44.95, order 2016-W 30th Anniversary Uncirculated American Silver Eagles directly from the United States Mint via its online store, located here. Phone orders are accepted by calling 1-800-USA-MINT (872-6468).
No mintage, household or product limits are in place for this release. Each coin ships in a standard blue presentation case.
Update (Dec. 2): The U.S. Mint at 12:05 p.m. ET said first-day sales reached 126,902 coins.
Will these coins be available past 12/31 or does that only apply to the bullion version?
These are the Uncirculated Burnished finish ASE $1 coins.
These & the Proof version can be sold into next year.
-NumisDudeTX
how come last year 2015 version Sale end at DEC 31,2015?
Can any one explain the difference between mintage limit and product limit ?
Jim C – the product limit can be different than the mintage limit where a certain “product” (for example Limited Edition Silver Proof Set) has multiple coins. In that case, there might be a product limit of 100, but you could still have a mintage limit of ____ for each individual coin contained in the product.
Thanks for clearing that up for me..always something new to learn in this great hobby we have.
I am confused. This is the first day these are for sale. 2016-W Uncirculated American Silver Eagle. The mint also announced today it was stopping production on all silver bullion coins.
http://www.coinweek.com/us-mint-news/u-s-mint-ends-production-2016-gold-silver-eagle-bullion-coins/
So, will there be as many of these as there have in the past?
Craig –
The Mint is only stopping striking of the bullion version ASE $1 coin not sold directly to the public to start striking the 2017 bullion version for sale to the Mint’s 13 worldwide bullion coin Authorized Purchasers. The Proof version & Uncirculated Burnished bersions can be struck till the last day of the year & can be sold into next year.
-NumisDudeTX
It’s too bad they didn’t think about repackaging the mint and proof versions in one case. That would probably move more and would look sharp.
Email came in at 4:33 that my order was shipped. This will be a wrap for the year. I wonder what will be on tap for next year…..
Rooster-
http://www.coinweek.com/us-mint-news/whats-store-u-s-mint-2017-coinweek-answers/
Dustyroads: Thanks for sharing that link. Some interesting options for sure. Gotta say I was very happy with the centennials this year.
Ten years ago today, silver closed at $13.97 an ounce. The upcoming 2006 w burnished eagle was priced at $19.95 ($5.98 over spot).
Today, silver closed at $16.48 an ounce with the new 2016 w burnished eagle priced at $44.95 ($28.47 over spot).
Small wonder why the numismatic hobby is slowly dying.
Ken T – as a rookie in coin collecting, this is one of my concerns. The mintage will be massive and they will all be 69 or 70. What is the intrinsic value that requires a 170% mark up over silver cost. It’s quite different than paying $700 for a 1921 peace dollar MS 63/64.
Michael,
I believe the mintage may not be so massive. The mintage the last three years have been well below 250,000. I can’t see more demand releasing this in December at a $28 premium. I will probably be buying these for $40 on Ebay in 2017.
Ken T. –
You make a great point on these silver coins with such a high markup. The Mint has a pricing grid for gold & platinum coins which is “fair” but has never had a similar pricing grid for their silver coins & products that contain silver coins. That is a totally unfair practice as they price gouge us on silver.
Happy collecting!
-NumisDudeTX
No Sacagawea dollar coin & currency set for next year? It wasn’t on the list.
Seth–
I believe the legislation that gave us these plain-edged “30th Anniversary” collectible silver eagles also gives the mint the discretion to mint next year’s silver proof sets on .999 silver planchets (as opposed to today’s .900 silver planchet).
Have you heard anything about next year’s silver proof sets (I believe they are going to be 10 piece next year).
Ken T. –
The FAST Act of December 2015 gives the Mint the option to strike silver coins in any fineness of at least .900 & up to .9999 fine silver. The Mint is in the process of getting government bids for .999 fine silver blank planchets, but it is a long process & may not be completed in time for 2017. But, the Mint has wanted this option for years now since .900 fine silver planchets are not used by hardly any other world Mint & cost extra to have custom made by private vendors.
-NumisDudeTX
I bought the 2016-W Proof in PCGS PR70. It’s too bad you can’t even see the edge lettering! Seems like the grading companies should have come out with a slab for this “edge lettering.”
Ken T,
You are not accounting for 10 years of inflation, that has run at an average of 3% a year. That’s 30% (not including 10 years of compounding inflation).
RonnieBGood—
The 2016 w burnished silver eagle is 130% more than the 2006 W burnished silver eagle (more than double).
The reality is that the 1-ounce .9993 planchet has only gone up by less than 20% over the last decade.