New Proof Eagles

Have you been checking the US Mint’s web site for Proof Eagle availability?

We posted earlier about the new 2010 Gold Proof Eagles which go on sale Thursday, October 7 at 12:00 noon Eastern time. (That’s tomorrow.)

On Monday (October 4) of this week, the US Mint announced they will be making the proof versions of the Silver American Eagle coins this year. Remember, they did not provide any of the proof versions during 2009.

The Proof Silver Eagles will go on sale November 19. The Mint will began taking orders at noon Eastern time.

  • Orders will be limited to 100 units per household
  • The coins will be priced at $45.95 with an additional $4.95 for shipping and handling (they note that one ounce of silver is roughly $22 in the marketplace)
  • Orders will begin shipping on December 1
  • US Mint subscription members can begin pre-ordering the Proof Silver Eagles now
  • The Proof Silver American Eagle weighs one troy ounce and contains .999 silver
  • The coins will be struck on specially burnished silver planchets at the West Point NY minting facility

The US Mint explains, “Although the demand for precious metal coins remains high, the increase in supply of planchets-coupled with lower demand for bullion orders in August and September-allowed the United States Mint to come off allocation and shift some capacity to produce numismatic versions of the one ounce American Eagle Silver Proof Coin.”

Their announcement also states:

“The United States Mint will not offer the following products in 2010: the one-ounce American Eagle Silver Uncirculated Coin; the one-ounce American Eagle Gold Uncirculated Coin; and the United States Mint Annual Uncirculated Dollar Coin SetTM, which would have included a one-ounce American Eagle Silver Uncirculated Coin.”

By the way, an ounce of silver at today’s (October 6) New York market close was $23.15. Of course, we all know the market goes up and it goes down. The unknowns are when it will go up or down and by how much.

Among the coin and metals investment community, many people advocate silver over gold as the much better investment vehicle. As always, you need to make your own determination of which is better for you.