Are the Silver Eagles coins?

[Zoins]

A SaintGuru thread ATS:

What percentage of modern (1907-1932) gold coins do you think actually were put into circulation? Not including coins shipped overseas as payments to foreign governments...?

 

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I'd guess less than 2%! I'd guess less than 2%! And of that most were smaller denominations.

 

[...]

 

I'm actually closer to the <1% number

[Conder101]

I haven't fully bought into primarily made for inter bank transactions = everyday commerce yet but I'm working on it

Banks had "everyday commerce" with other banks and the gold coins did facilitate that.

 

How many early proofs were "meant" to be excess and leftovers to be put into circulation? My impression is that early proofs were not meant for circulation. If there happened to be extras, it was probably more convenient to dispose of them through circulation than to destroy them (no waffle machines at the time) or keep them in inventory. If the extras were not planned to be created and released into circulation, then it seems they would not be "meant to circulate."

That's why I said they were "iffy". Unlike modern proofs where any surplus at the end of sales in destroyed, with the early proofs they were often put into circulation. So if you have an early proof with some wear, is it just an impaired proof and not a coin, or was it a surplus piece put into circulation intending it to circulate as money and therefore a coin? Since you can't know the day to day history of the piece since its creation, it is a toss up as to whether or not it is a "coin". In general I avoid the problem of trying to determine intent with such pieces by simply saying all proofs are not coins.

[Zoins]

I haven't fully bought into primarily made for inter bank transactions = everyday commerce yet but I'm working on it

Banks had "everyday commerce" with other banks and the gold coins did facilitate that.

Is it true that late date Saints were not released, even to banks?

 

A few guesstimates ATS are that under 1% of modern gold (1907-1932) entered circulation.

 

I can see reasons for classifying modern (1907-1932) higher denomination US gold pieces as coins. OTOH, I can also see a case for classifying these as NCLT.

[jtryka]

A lot of the later date Saints, particularly after 1928 were never actually released to banks or exported to foreign governments in any great quantities (they were sitting in mint vaults until they were melted in the mid-1930s (this is why Saint rarity defies mintage figures). You could however order any one of the dates/mintmarks directly from the mint for face value plus postage.