Emergency Production American Silver Eagle

[ChrisSilver]

There seem to be different slabbed versions of these, I am presuming all 240,000 have been slabbed in some form of another.
 

Quote

In spring 2020, the U.S. Mint instituted Emergency Production of bullion American Silver Eagle coinage at the Philadelphia Mint, to meet increased demand for precious metal products during the coronavirus crisis. This 2020-(P) Silver Eagle is one of the 240,000 specially minted bullion coins!

 

Picture source: Modern Coin Mart


Lots of the different versions of these can be seen here: https://www.moderncoinmart.com/silver/us-silver-coins/american-silver-eagles/?filters[extra][YEAR_OF_ISSUE]=2020&filters[extra][SUBJECT]=Struck+at+Philadelphia&view_all=1&page=1&objects_per_page=0&link=2020-strk-philly-ase&linkcat=homepage

Is anyone purchasing one of these? And if so what particular type?

[SilverMike]

I was tempted Chris, would have been PCGS one but there seems to be a lot available at the moment, for roughly the same money .  Its also put me off that they aren't putting a “P” mint mark on the coin, only identifiable by the label. I will get one if the price drops a bit though.

[Horse]

This intrigued me so I clicked the link.  Nope.  I'm not even buying any eagles for $25 so definitely not going for these.

[Arganto]

Funnily enough this came up in my recommended videos this morning!

Your link's prices are a lot lower than $595 though 🙃

[CadmiumGreen]

6 hours ago, ChrisSilver said:

Is anyone purchasing one of these? And if so what particular type?

Who would buy one of these? Can’t ever see getting a return on it’s intrinsic value.

[Melon]

They should have added a face mask on to the lady to demand that kind of premium 🤣

[AppleZippoandMetronome]

I like it as a concept but as others are pointing out the price is bonkers.

[Arganto]

Imagine if there was a similar scenario with the Royal Mint, trying to get a genuine MS70 on a batch of new Britannias would be a challenge...🤣

[DaKine]

This coin's HYPE is straight out of "The Emperor's New Clothes".  Take one of these coins out of a slab or the monster box and identify it as Philadelphia as opposed to West Point. You can not!

Can you? No, it is exactly the same with no marker or markings. Absolute craziness - this should be the "LUNAR(TIC)" cover coin!

[PandemicPanda]

Interesting piece of history, but whether they'll continue to demand the current premium they hold remains to be seen.

I assume that all 240,000 have been and slabbed in one form or another.

One thing that I do find curious and would very much like to hear other forum members view on, there appears be be "first day of release" "first strike" and like the example above, just plane minted.

My question is thus, as these coins were only minted for 2 weeks, surely the first day and first strike would seem a little redundant? Am I right in thinking that all 240,000 would have been released at the same time and how many coins can you have that would be classed as first strikes? 

Does anyone know when these coins were in fact released? 

[ChrisSilver]

1 minute ago, PandemicPanda said:

surely the first day and first strike would seem a little redundant?

I thought that the first strike was just named like that as it sounds good for marketing, though they aren’t the coins that were actually first struck, just the coins that were the first to be graded.

The first day strike have to be graded within a day of the production starting I believe.

This is what I understood to be the case, though of course I may be mistaken and please someone correct me if I am. 

[PandemicPanda]

5 minutes ago, ChrisSilver said:

I thought that the first strike was just named like that as it sounds good for marketing, though they aren’t the coins that were actually first struck, just the coins that were the first to be graded.

The first day strike have to be graded within a day of the production starting I believe.

This is what I understood to be the case, though of course I may be mistaken and please someone correct me if I am. 

Thanks Chris, Interesting, considering all 240,000 were minted between the 8th and 20th April. Such a shame they didn't include a "P". 

[ChrisSilver]

34 minutes ago, ChrisSilver said:

I thought that the first strike was just named like that as it sounds good for marketing, though they aren’t the coins that were actually first struck, just the coins that were the first to be graded.

The first day strike have to be graded within a day of the production starting I believe.

This is what I understood to be the case, though of course I may be mistaken and please someone correct me if I am. 

Seems like I was mistaken

NGC

First strike:

Quote

NGC will use the term First Strike on the NGC certification label to indicate that the encapsulated coin was struck during a first strike ceremony at the US Mint. A copy of additional supporting documentation or other substantiation will be required for NGC to verify that the coin was struck at a first strikeceremony.

First day of issue:

Quote

NGC offers the First Day of Issue designation for select coins that are purchased within one day of the first day that a mint makes a new coin issue available for sale. 

 

PCGS:

Quote

The PCGS First Strike program designates coins issued in the first 30* days of the Mint's release.

So if they were all minted between the 8th and the 20th April 2020 then they could technically be all labelled First Strike with PCGS I guess. I’m not sure what other labels PCGS have produced these I’m, but if they also other other labels then I presume they did that only to give more variety. I understand what you mean by it being a little redundant, as technically they are all “First Strike” 

[Arganto]

Having a batch of Eagles from the Comex vault under the world trade centre earn significance and the inevitable big premium I can understand. These are just minted at another site because of shut downs though, doesn't seem like much of a big deal but maybe I'm not getting it. If it's because it was the Year of The Virus and has memento value then anything from 2020 would serve the same purpose? 

Or is it looking to the future and expecting a big return?

[PandemicPanda]

17 minutes ago, Liam84 said:

Having a batch of Eagles from the Comex vault under the world trade centre earn significance and the inevitable big premium I can understand. These are just minted at another site because of shut downs though, doesn't seem like much of a big deal but maybe I'm not getting it. If it's because it was the Year of The Virus and has memento value then anything from 2020 would serve the same purpose? 

Or is it looking to the future and expecting a big return?

As it happens I have two silver eagles  1991 and 2001, from the WTC in my collection. I bought them years ago when they first came to light. Not sure if they've gone up in value or not, I haven't monitored that. To be honest I didn't buy them for any big return, it was purely a piece of history. Similarly I have a 2003 Jessica Lynch eagle in my collection, this I seem to recall I picked up as a bargain, after the "true" story came to light..................  

Likewise I have bought a  2020 P eagle, again just there curiosity value. But like you say any 2020 coin could be argued to have a coronavirus connection, who knows perhaps I'll add a West Point one to my collection at some point. 

Going slightly off topic if I may, are all the 2020 Orlando Fun Show eagles in proof or do bullion examples exist? 

[PandemicPanda]

Thanks again , Chris Interesting that NGC will use the term First Strike on the NGC certification label to indicate that the encapsulated coin was struck during a first strike ceremony at the US Mint. A copy of additional supporting documentation or other substantiation will be required for NGC to verify that the coin was struck at a first strike ceremony. 

I assume that PCGS would have a similar "ceremony". 

Either way would be interesting to learn exactly what this "ceremony" consisted of? 

[CadmiumGreen]

I think the “ceremony” starts off like this..,

[PandemicPanda]

38 minutes ago, CadmiumGreen said:

I think the “ceremony” starts off like this..,

😂😂😂😂😂😂😂😂😂😂😂

[PandemicPanda]

Well my "First Strike" Emergency issue silver eagle finally arrived my courier this morning. Didn't pay an arm and a leg for it like I've heard of other collectors having to do. But was interesting is the journey it's taken, would be interested to hear other UK based collectors experiences of buying eagles from the US.

 

 

This is the journey my eagle took......

14th May bought from a dealer in Ramsey New Jersey (Ebay transaction).

15th May 13:41 Accepted at the USPS facility Ramsey.

15th May 19:22 Arrived at USPS facility Teterboro New Jersey.

15th May 22:55 Departed USPS facility Teterboro New Jersey.

15th May 23:30 Arrived USPS facility Jersey City New jersey.

16th May 07:00 Departed USPS facility Jersey City New jersey.

16th May 21:29 Arrives at USPS facility Cincinnati Ohio

17th May 06:38 Departed at USPS facility Cincinnati Ohio

17th May 06:38 Arrives at USPS facility Erlanger Kentucky

20th May 16:00 Departs at USPS facility Erlanger Kentucky

24th May in transit

25th May arrives at my address.

 

 

Am curious to know whether this is a usual or whether this somewhat indirect route is something to do with the current COVID situation?

 

 

 

 

 

 

[Arganto]

I really like silver eagles, the walking Liberty design is lovely. If it's straight from the mint to the graders shouldn't it have scored a 70? Or is it like the RM with Britannia's...😁

[Metalisreal]

Emergency issue? Am I missing something? What's the big emergency? Is this another pandemic and nobody told me?