By Chris Bulfinch for CoinWeek …..
Silver and gold American Eagle bullion coins struck at the West Point Mint by United States Mint Director David J. Ryder will be available to collectors later this year. 500 four-coin sets marking the series’ 35th anniversary, called the American Eagles at Dusk and at Dawn set, will be sold at public auction directly by the Mint – a first in the Mint’s 229-year history.
The sets will include both 2021 design types each of the American Silver Eagle (ASE) and the one-ounce, $50 American Gold Eagle (AGE) bullion coins. All four coins were struck at West Point and sport bullion finishes. Ryder’s handwritten signature will appear on certificates of authenticity (COAs) issued with each set. The date of the auction has not yet been set.
Ryder struck the coins on April 10, pressing the button to start the coin press, according to Michael White of the U.S. Mint’s Office of Corporate Communication.
With the introduction of Emily Damstra and Jennie Norris’ new reverse designs and enhanced versions of Adolph Weinman’s and Augustus St. Gaudens’ obverse designs, two different design types of both ASEs and AGEs have been struck this year. White described the design transition as “historic,” calling it “both the end of an era and the beginning of a new chapter” in an email interview. The “Dusk” and “Dawn” in the title presumably refers to the retirement of the Type I designs, in service since 1986, and the introduction of the Type II reverse, which features enhanced security features.
White also commented on the anticipated demand for the limited-edition sets, linking it to the decision to auction the sets:
“We expect significant numismatic interest, and have determined selling at auction provides the opportunity to the broadest audience to purchase these unique four-coin sets.”
The 500 sets will surely sell for premiums higher than their melt value. Dealers and others with enough capital to secure one or more sets may not be able to flip the sets for large profits if the bidding for the sets is competitive enough at release.
As of the time of publication, further details about the auction had not been provided by the Mint.
“How and when the coins will be auctioned, and the packaging for the coins, has yet to be determined,” Michael White said.
American Gold Eagle Designer Edition Sets
The American Eagles at Dusk and at Dawn 35th Anniversary sets will not be the only products with both Type I and II American Eagle designs released by the Mint.
On August 5, a two-coin set of Proof 1/10-ounce AGEs with Type I and II reverses will be released. 5,000 “Designer Edition” sets will be sold at a price yet to be announced. Its sale date was postponed as a result of the Mint website’s previous poor performance with, in the Mint’s words, “high demand product launches.” A “limited quantity” of the COAs included with these sets will also be hand-signed by Ryder.
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“…selling at auction provides the opportunity to the broadest audience to purchase these unique four-coin sets.”
No! It provides that only those with the most money will be able to buy them. What an absolutely stupid idea!
Coin collecting for the rich… The average collector isn’t going to be able to successfully win any auction.
This is a troubling trend… They are just collecting more money while doing nothing to make these accessible. A lotto system would be preferable than this.
The Director of the US Mint manages the worst run business in America – possibly the World, including but not limited to: the slowest shipping, the cheapest packaging, the highest prices and the worst customer service yet, Director David J. Ryder thinks he is some kind of rock star who’s mass copied signature on a card is somehow going to add value US Mint offerings to which I say NOT.
On 07-31-2021 the US Mint notified me they shipped my 1/10th oz. type 2 gold eagle but on 08-4-2021 the US Postal Service informed me they only received electronic notification form the Mint but did not receive the item for shipping and at best the US Mint has only generated a shipping label but not actually mailed the coin. This is one of the oldest and most common scam one could expect to encounter on feebay but what does this say about America and all that is currently going wrong when the US Government acts in this manner.
The other day I read an article about the US Government busting up what they called a “criminal advance pay scheme” and by definition the act of the US Mint selling products they do not have in-hand or in stock and charging either the cost of that those items and/or shipping charges seems like it’s a criminal act by definition.
Finally, we all know that the markups on the US Mint products are gross acts of price gouging and profiteering but did you know this may even be illegal according to the Governments own laws regarding coinage and currency.
Best Regards to all fellow collector’s also experiencing these sign-of-the-times tax and all out attack on us and our wallets.
They should sell all these types of items with a begin and end date.
Limit the number that can be bought.
If you miss the buying period your out.
If the sell 6402 then thats all they mint.
That each collector can buy.
No bulk buys that take away from collectors.
The US Mint can never please everyone, no matter what they do.
Posts here complain the price will be too high. When the price is offered at below market with a “limited” mintage”, customers complain they were locked out. That’s what I have read on the Morgan release and many others previously, where I can infer many of the complaints are actually about not being able to “flip” the coin for a profit. Any coin struck to order is almost guaranteed to lose value in the secondary market every single time and customers will complain about that.
It would be a lot easier if customers realized striking collector coins isn’t the US Mint’s primary mission. It’s to provide circulating coinage for commerce.