This month I’d like to talk a little more about American Silver Eagles, because they are such a hot coin right now—the Baltimore and Long Beach coin shows have clearly illustrated this fact.
There are a couple of reasons why Silver Eagles are so hot right now. First, there is an uncertain economic future in the United States, which historically creates a demand for precious metals such as gold, silver, and platinum. In my opinion, people generally feel more comfortable with their money in metals. Because of this increased demand, premiums climb, and coin collectors naturally feel the effects, since almost all the coins are made from these precious metals.
The second factor in Silver Eagle appeal is a survey that was released in January 2012 from the U.S. Mint. Last month I wrote that the Mint hinted at the new release of several Silver Eagles. According to the U.S. Mint’s survey, the “S” mintmark and Reverse Proof strikes could be released first. The online survey was conducted by the Philadelphia firm National Analysts Worldwide, who polled U.S. Mint customers in January of this year. The fact that the mint could release these new Silver Eagle varieties has almost every dealer in the country anxiously awaiting their arrival, because more and more people are now collecting Silver Eagles. If the mint does in fact release several new varieties of Silver Eagles, the coin industry, in my opinion, will certainly be taking notice.
Many coin dealers are anticipating a release date later this year for the new Silver Eagle varieties. Their arrival could be similar to the November release for the 2006-W series, whose mintage turned out to be very low. I also keep reminding all my numismatic friends that they should be looking for those 2006-2008 W mint-marked Silver Eagles, specifically the Burnished or Uncirculated strikes, as more new collectors are trying to build complete sets of Silver Eagles.
At the end of the day, the Silver Eagle is without a doubt a fascinating coin, with an amazing history, and people—including myself—love to collect it. It’s an exciting time for Silver Eagle collectors, and I’m glad to be a part of the action.