The US Mint has announced a pause in the production of the new Morgan and Peace dollar coins. The suspension of sales and production is a result of supply chain constraints brought on by the pandemic.
The Mint has stated previously that they have been having difficulty procuring silver planchets to meet demand and production needs.
US Mint Deputy Director Ventris C Gibson said “I want to ensure that our customers know,” she said, “that the modern renditions of the historic Morgan and Peace Silver Dollars will continue next year. Our goal is straightforward: to give our loyal customers the products they want and the service they deserve.”
The modern renditions of the Morgan and Peace Dollar Silver Coins were introduced in 2021. Demand for the modern coins has been very strong amongst investors and collectors.
These coins are minted with .858 troy ounces of .999 fine silver.
This year marks the 100th anniversary of the switchover from the Morgan Dollar to the Peace Dollar in 1921.
Public Law 116-286, the 1921 Silver Dollar Coin Anniversary Act, was approved by Congress on December 19, 2020 and signed into law by the President on January 5, 2021.
The US Mint halted the production of the Morgan Dollar in 1904 after Congress repealed of the Sherman Silver Purchase Act in 1898.
Due to the Pitman Act, the Morgan dollar was once again minted in 1921. However, the Pitman Act called for a new design of the US Dollar Coin. The Peace Dollar design was chosen because it represented a shift in US culture post World War I from a nation at war to a nation at peace.
To commemorate the switchover the US Mint will be releasing Centennial Commemorative coins featuring the designs of these iconic silver dollar coins this year.
The Morgan Dollar, designed by George Morgan, was produced from 1878 until 1904, then again in 1921.
The Peace Dollar, designed by Anthony de Francisci, was produced from 1921 until 1935.
1921 Silver Dollar Coin Anniversary Act
The law specifies that the centennial dollars will weigh 26.73 grams with a diameter of 1.500 inches. The coins will be minted from no less than 90% silver with a reeded edge.
The design requirements specify that the commemorative silver dollar coins will have an obverse design and a reverse design that are renditions of the designs historically used on the obverse and reverse of the original coins. Mintage amounts or limits are excluded from the bill that was signed into law.
The bill does state that the coins must be sold at a price equal to the sum of their face value and the cost of designing and issuing the coins, including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping. Discounts will be available for bulk purchases, likely companies that are on the Mint’s list of Authorized Purchasers.
The final designs of the coins will be selected by the Secretary of Treasury with input from the Commission on Fine Arts and review by the Citizens Coinage Advisory Committee.
No official release dates for the coins have been specified yet.
End of World War II 75th Anniversary American Eagle Silver Proof Coin
The most anticipated coin release in recent time was last years’ 2019-S Reverse Proof American Silver Eagle coin. With only 30,000 coins minted, the coin was sold out in minutes from the US Mint website.
Pretty nice ROI for a coin that was sold by the US Mint for $65.95.
This year there seems to be a lot of hype lately around the US Mint’s upcoming release of a new Silver Eagle Proof coin. The coin is being marketed by the US Mint as a commemorative celebrating the 75th Anniversary of the End of World War II.
The coin is minted by the West Point Mint. It is a proof coin containing a special privy mark shaped like the reflecting pool at the World War II Memorial in Washington, DC. Inside the privy it is stamped with V75.
This is the first time the US Mint has release an American Silver Eagle coin with a privy mark.
The coin goes on sale next Thursday November 5 at 12 noon eastern time. You can sign up for reminder alerts on the product page at the US Mint website. I’m sure this coin will sell out quick.
If you’re lucky enough to buy one of the 75,000 coins being made available it should be an easy flip for a huge ROI.
The Unveiling of the New American Eagle Coin Designs
New reverse designs for both the American Silver Eagle and the American Gold Eagle coins have just been unveiled by the United States Mint. These exciting new designs will be featured on collectible and bullion coins in 2021. The reverse or tails designs will be available for both versions of the silver eagle and gold eagle collectible coins. The American Eagle Coin Program will be celebrating its 35th anniversary in 2021.
The exciting new designs are set to become available toward the middle of the year. As the Director of the United States Mint, David J. Ryder made a statement. He said the United States Mint has an artistic heritage based on excellence. The gorgeous new designs were created to build on this heritage while fortifying the status of the American Eagle Coin Programs as an icon for both the art and numismatic worlds.
The Redesign for the Reverse Side of the American Eagle Coins
The new designs are enchanting portraits of a proud eagles. The inscriptions on the American Silver Eagle and American Gold Eagle coins are the United States of America, In God We Trust, 1 oz. Fine Gold, E Pluribus Unum.
The designer for the AIP or Mint Artistic Infusion Program is Jennie Norris. The beautiful design she created was sculpted by Renata Gordon, the medallic artist for the United States Mint.
Renata Gordon was previously a volunteer raptor handler.
The deep connection she shares with wildlife was responsible for the inspiration required for her design. She spoke of the American Eagle as a sensationally noble bird. Her intention was to capture the intense stare of the eagle through the use of close cropping. The gaze she created speaks of the wisdom and pride generations have passed down over the course of time.
The Specifics of the New Design
The designs depicted on the silver eagle and gold eagle coins are notably different. Both designs are an attribute to the quality coins available through the United States Mint. The design was created by Emily Damstra, an AIP designer.
Michael Gaudioso is the medallic artist for the mint responsible for sculpting the coins. When Emily Damstra reflected on the design she created she spoke of her inspiration. She said she had the desire to create an image with all of the values represented by our national bird. She focused on conveying the most important traits including cooperation, protection, diligence and care in the most unique way possible.
The Head of the Eagle
The head or obverse side of the redesigned American Silver Eagle and American Gold Eagle coins will still show versions of the same historical designs the mint has featured for these coins during the last three decades. The obverse for the gold eagle coin will show a refreshed depiction of the design established by the well-known sculptor Augustus Saint-Gaudens in 1907.
Adolph A. Weinman is the famous sculptor responsible for the original Walking Liberty depiction of 1916. This image will be displayed on the obverse side of the silver eagle coin. The last issues for coins with the current design are the 20EM or One Ounce Silver Proof American Eagle Coin minted in San Francisco in 2020 and the 20EH or one ounce uncirculated gold American Eagle coin minted at West Point in 2020.
The 20EM or silver one-ounce proof coin of 2020 displaying the S mint mark of San Francisco will become available on October 13th of 2020. The 20EH or one ounce uncirculated gold American Eagle coin of 2020 will become available on November 19th of 2020.
Decreasing the Risk of COVID-19
The United States Mint has closed its sales centers until further notice to decrease employee risks in the workplace of exposure to COVID-19. The United States Mint has also made operational adjustments due to the COVID-19 response. There are customer service representatives ready to answer the questions of both potential and current customers.
Credit card information is not currently being accepted on the phone and customers will be unable to place their orders in this manner. All orders can be placed at this time by visiting the official website of the United States Mint.
About the United States Mint
The United States Mint was created by Congress in 1792. In 1873, the Mint was included in the Department of the Treasury. The Mint is the sole manufacturer for the nation of legal tender coinage. This means the Mint has the responsibility of producing and circulating coinage and conducting both commerce and trade for the nation.
Numismatic products are also produced by the United States Mint including commemorative, proof and uncirculated coins, Congressional Gold Medals, bronze and silver medals and gold and silver bullion coins. The numismatic programs of the Mint are self-sustaining to ensure operation with no cost to the taxpayers.
The American Gold Eagle is the official gold bullion coin of the United States and has been in production since 1986 as a means for private investors to buy precious metals. Mintages vary each year based on investor demand.
The Gold Eagle is minted in four denominations, each containing a specific weight of gold (1 oz, 1/2 oz, 1/4 oz, and 1/10 oz), with the 1 oz coin having a face value of $50. The coin is composed of 22-karat gold (91.67% gold, 3% silver, and the remainder in copper).
The one-half troy ounce has a nominal face value of $25. The quarter ounce Gold Eagle carries a nominal face value of $10. The smallest denomination, the 1/10 troy ounce has a nominal face value of $5.
The nominal face value of each Gold Eagle assures its legal tender status. The intrinsic value of the gold is worth significantly more.
This chart only displays the bullion version of the coin. American Eagle gold proof coins have separate mintage figures.
American Gold Eagle Annual Mintage History
The chart below shows the American Gold Eagle mintage numbers based on sales data for all denominations minted since their introduction in 1986.
Proof Gold Eagles are specially minted coins intended for collectors and have a shinier, mirror-like finish. These coins are sold direct to consumers by the US Mint and are also available from bullion dealers, coin dealers and secondary market sources. These coins are sought after by collectors and can carry numismatic premiums. They are minted in limited quantities, which can make certain years more valuable.
Certain years had lower mintages than others, making Gold Eagle Key Date Coins more rare and desirable. For Gold Eagles, some of the lower mintage years include 1991, 1992, and 1999, especially in the 1/2 oz and 1/4 oz denominations.
The U.S. Mint has released special versions of the Gold Eagle for various anniversaries or events. For example, the 1995-W Proof Gold Eagle is incredibly sought after, especially when found as part of the 10th Anniversary 5-Coin Set.
Gold Eagles that have been professionally graded and received a high grade can be more desirable. For example, a Gold Eagle graded as MS70 (perfect condition) by a reputable grading service like NGC or PCGS can command a significant premium over a non-graded coin or a coin with a lower grade.
Burnished Gold Eagles were introduced in 2006, these coins have a matte finish and were intended for collectors. They feature the “W” mint mark, indicating they were minted at West Point.
Some collectors aim to acquire Gold Eagles in all four denominations for certain years or seek out specific denominations that had lower mintages in particular years.
1 – As of January 3, 2023, the US Mint reports 980,000 troy ounces of gold eagle coins were sold 2022. Although official sales data continues to show 850,000 troy ounces.
In celebration of the US Mint releasing the 2019-W Quarters into the wild, the coin grading company PCGS, has announced a number of rewards and bounty programs to those who submit some of the first coins for grading.
The reward of $5,000 for first qualifying 2019-W Lowell quarter submitted and certified to PCGS has been confirmed, and we are now proud to announce a $2,000 reward to the first person to submit a 2019-W American Memorial Park quarter to PCGS for grading and encapsulation.
The reward for the first qualifying 2019-W Lowell quarter was split between two nearly simultaneous submissions.
Additional rewards of up to $2,000 are being offered for additional W mint mark quarters that are scheduled to be released this year by the US Mint.
Any quarters submitted for grading with PCGS during the early release period will receive special designations noted on the coin holder labels for those discovered and submitted during the first week of release, noted as “First Week of Discovery”. Those submitted during the first 45 days following the release will receive a designation as “Early Find”.
More information about the rewards bounties and special designations celebrating the 2019-W West Point minted quarters can be found on the PCGS 2019-W Quarter Quest Website.
After minting, the US Mint packages bullion coins in plastic tubes. Each standard tube holds twenty 1 oz coins. The tubes are then fitted into the Silver Monster Box 25 tubes at a time. The tubes have a relatively snug fit to reduce movement and vibration during shipping.
Each Silver Monster Box contains 500 troy ounces. Both Government Mints and private manufacturers have adopted the practices of shipping bulk product in quantities of 500 troy ounces in Silver Monster Boxes.
A Silver Monster Box of American Eagle coins is green. Other Governments Mint use different colors to identify their Monster Boxes. Some have different colors and sizes for different series’ of coins.
For example, there are some special series’ of coins from the Perth Mint that are shipped in Monster Boxes that contain only 250 troy ounces of silver coins. Some bullion distributors have adopted the term as a way to offer yet smaller quantities, as little as 100 troy ounces, with the term Mini-Monster Box.
According to sales data released by the U.S. Mint this week, sales of both American Silver Eagle (ASE) and American Gold Eagle (AGE) coins were down in 2018.
According to sales data, the U.S. Mint sold 245,500 ounces of Gold Eagle bullion coins during 2018. This was down from 302,500 ounces in 2017 and 985,000 in 2016.
Silver Eagle bullion coin sales dropped in 2018 as well. In 2018, the U.S. Mint sold 15,700,000 one-ounce Silver Eagle bullion coins. This was down from 18,065,500 in 2017 and 37,701,500 in 2016.
Silver Eagle bullion coins are sold to dealers in 500 coin Monster Boxes. Many precious metals dealers that are still holding onto 2018 dates coins have lowered the premiums to as low as $2.20 per coin, which is only 20 cents more than the premium charged by the U.S. Mint.
Unlike other world mints, The United States Mint does not sell its bullion coins directly to the public. Instead, the coins are distributed through a network of official distributors called “authorized purchasers”. The Authorized Purchasers then create a two-way market buying and selling to precious metal wholesalers as well as private investors.
In the United States there are nine authorized purchasers that purchase Gold, Silver, and Platinum Eagles and other bullion items direct from the US Mint. In Europe there are two Authorized Purchasers and in Asia there is one. The Authorized Purchasers act as wholesale distributors for US Mint bullion products.
The temporary sell out is likely due to the recent drop in silver spot price.
It’s unclear whether it’s consumers driving the sales demand of the Silver Eagle coins or if it’s dealers trying to lock in long-term stock at lower prices.
Silver spot price typically dips in the summer months to annual lows. Silver prices often through the fall and into winter as manufacturers and industry begin sorting out their supply for 2019 production.
