So the San Francisco Two-Coin Silver Proof Set sale has closed...

[MLHawk-migration]

Anyone like to give their two cents as to how they will do in the future now that sales have closed with only a 251,000 (251,302 according to the sales totals) mintage?

[brg5658]

"Only" a mintage of 251,000? I think that's WAY more than enough to satisfy the demand.

[ericj96-migration]

What is the current price of a 370,000 mintage proof silver eagle in run of the mill 69 grade? That might give you some idea what a <250,000 mintage coin is likely to be worth. The current price of a 2006 reverse proof might be some help too. The 2006RP may get a little soft due to increasing populations of reverse proofs but still its current price is a good sign for sub 300,000 mintage modern silver dollars if bough at issue price.

 

Thanks

 

Eric

[delta]

I'm thinking the situation of now having three reverse proof silver eagles will increase the demand for each of them, because they're already a short set in themselves, with a very strong prospect of others being added in future years. My expectation is that demand for the 2006 RP will be strengthened rather than weakened by the 2012 RP, whether or not the 251,302 currently listed mintage for the 2012 rises with the inclusion of more late orders, or is reduced due to cancellations and returns, and even ends up below that for the 2006 RP of 248,875. Another factor to consider is that the 2006 RP is already well-dispersed.

[delta]

Whoops, after writing the previous note, I noticed Eric has a similar comment in this other thread:

 

link

[mkman123]

Not a fan!

[delta]

Not a fan!

 

Does that mean you're caught in the heat wave without ventilation?

 

I doubt you meant you're unenthusiastic about silver eagles, or reverse proofs, or the 2012S set, or Eric Jordan's analyses, or US coins, or all numismatics, because it's unlikely anyone would be so unhelpful and even discourteous as to make such a worthless unqualified statement, when instead they could have passed.

 

It's no contribution to the forum to merely denounce things you don't care about. It's already known there are millions of people who are not fans of any of those things listed above, so adding one more to those millions would not be useful information.

[coinman_23885]

What is the current price of a 370,000 mintage proof silver eagle in run of the mill 69 grade? That might give you some idea what a <250,000 mintage coin is likely to be worth. The current price of a 2006 reverse proof might be some help too. The 2006RP may get a little soft due to increasing populations of reverse proofs but still its current price is a good sign for sub 300,000 mintage modern silver dollars if bough at issue price.

 

Thanks

 

Eric

 

Interesting. I certainly see potential, but mintage alone is not enough to drive up the price if there is not enough demand. It will be interesting to see what the long term demand for these pieces will be.

[ericj96-migration]

"My expectation is that demand for the 2006 RP will be strengthened rather than weakened."

 

I agree that the reverse proofs will get a kick if they keep coming and develop a subset that is well liked.

 

And I agree that demands importance can not be over stated but demand is growing for these coins. Check out the slabbing rate charts in the new Numismatic News article that comes out this week. These coins are getting absorbed FAST. Check it out when you get the chance.

 

 

Thanks for the comments guys.

 

Eric

 

[Ryan S.]

With a mintage at 251K, I think demand on the secondary market should be fairly strong for these coins. Due in large part to the growing number of Silver Eagle collectors that don't just view these as bullion, like some people used too, but also because of State Pride!

California is home to a huge number of numis-nuts that love the Frisco Mint......and I might be one of them

[coinsbygary]

Initially, I believe demand for the 2012 set will be a little soft due to the fact that everyone who initially wanted a set will get a set. This was not the case for the 25th anniversary set that I believe was bungled by the mint, thus having the effect of creating a high demand due to the publicity. Over time though even these settled back a bit. As to the reverse proof short set, the 2011 will always be the key coin, or should I say the hardest to obtain due to price. Regardless, if the popularity of the reverse proof short set takes off the 2011 will buttress the value of the other two coins in the set, but in no instance will the value of the other two coins overtake the 2011. As to how the mint handled the sales of these coins, the one month window for purchasing this set is much better than the 5 hour window for the 2011. The only complaint I have with the mints handling of this years set is the issue price.

Gary

[John Maben]

I think the 2006 and 2011 sets were driven by those with the intent to flip quickly. The 2012 set may be different. The collectors may not be anxious to sell and even the dealers may be holding back some. We'll see.

 

John

[Crohnos01]

All of the above comments have merit. I will throw one more in for consideration regarding long term pricing of these sets. I have been somewhat surprised by my (admittedly small) circle of coin collecting friends and associates who were/are unaware of the SF production, availability, and limited time frame of these coins. You might say they can't be serious collectors if they are that ignorant, but a couple of them work at coin shops and played the ignorance card when I asked if they bought any sets for resale. If there are a large number of folks out there who were caught flat footed not realizing the mint had these sets up for sale, it may create a demand long term for the sets. IMHO, its possible since these sets weren't conceived of until this year, unlike the 25th anniversary sets which were talked up for at least a year prior to issue.

[GoldGuru]

I've been watching the pre-sales on Ebay, since the mint stopped sales, both BIN's & auctions. Guess what guys, they are selling like crazy even though there are tons of listings & they keep listing more! Wait till the TV coin shows get them in their hands both graded and in OMP. I have talked to several collectors who didn't know to order & plan to buy on the secondary market at any price. Gotta have! HOT Stuff. Don't forget all the collectors around the world that can't order from the mint. 250K aren't gonna last long. I'll be selling some next year!