2017-S Proof silver American Eagle needed for sets
reason for the instant sellout is, of course, the inclusion of a Proof 2017-S
American Eagle silver dollar coin minted in San Francisco, the first Proof from
that Mint facility since the 2012-S coin.
the American Eagle silver dollar coin program debuted in 1986, all bullion
pieces were struck at the San Francisco Mint and continued to be until 1998,
while Proofs were issued at this Mint from 1986 through 1992 and then again in
2011 and 2012.
was the case in 2012, when the Mint sold the Proof silver American Eagle from
San Francisco in two different products, the 2017-S will, as the Mint made
clear before the launch of the Congratulations product, also be offered later
in the year in the 2017 Limited Edition Silver Proof Set.
sets have struggled in recent years to sell their full mintage of 50,000 units,
but the inclusion of the 2017-S means this year’s set will likely also sell out
quickly. But what is not known is whether the 2017-W Proof American Eagle will
also be included; if it is, the retail price would approach $200, a high price
point for many collectors.
is likely the mint will offer more than the usual 50,000 units of the LESPS
this year, possibly doubling the offering to 100,000.
conventional wisdom seems to be that this means the 2017-S is really no big
deal. But what has not been discussed is
the fact that even if the LESPS mintage were doubled, the 2017-S will still be
the second-lowest mintage regular Proof finish coin of the series, after the
coveted 1995-W, and the lowest-mintage Proof of the series from San Francisco.
the picture changes a little if one groups Proofs and Reverse Proofs
together. In that case the 2017-S would
come in third overall, after the 1995-W and the 2011-S Reverse Proof, or second
for San Francisco Mint Proofs.
additional point to consider is how many collectors will want to buy the LESPS
just to get the 2017-S when they can buy the Congratulations set now on the
aftermarket for around $120 and still also have the only coins eligible for
First Strike and Early Release labels.
those labels don’t actually mean the coins were made first, but the market
still continues to pin higher value on coins with those labels.
consider the current retail prices for Proof 70 graded examples of the 2017-S,
which have moved up in the past week from $200 when the sets first sold out, to
a range of $220 to $240 this week, depending on the label on the coin.
prices may go down later as more coins hit the market, and their future value
is hard to say, since it will depend on the final mintage and the number of
coins in that grade.
it is likely to be more than the current $120 value for the sets, since a Proof
70 from the West Point Mint sells for close to that amount, and it has a much
silver American Eagle is the most widely collected modern U.S. coin series, and
the Proof version is the most popular annual product from the Mint, with the
West Point Proofs typically selling in the million-coin range in recent years.