By Tony Davis
In a previous article for Money.org,
we highlighted several bullion and proof American silver eagle coins that sell
at a premium over and above the standard rates for these coins. We also touched upon other types of American
silver eagles, such as burnished silver eagles and reverse proof silver eagles.
Today we’re going to delve a bit further into burnished silver eagles, including
the coins’ origins, pricing information and why we believe that these coins
make a great addition to any coin collector’s numismatic
coin collection.
Origins
Burnished American silver eagles were first introduced by
the U.S. Mint in 2006 specifically for coin collectors. They’re lower mintage
coins that have a “burnished” patina, which is produced from burnished coin blanks.
They can be identified by the coin’s matte-like finish as well as the presence
of a “W” mint mark. All burnished silver
eagles were produced at the West Point Mint and include a presentation box and a
certificate of authenticity. Burnished silver eagles have been produced every
year since their inception, with the exception of 2009 and 2010, and typically
have mintages of less than 700,000 coins. The 2014 burnished silver eagle was
released in early April and can be ordered directly from the U.S. Mint.
Prices
The limited mintage, accompanying government packaging and
especially the price make burnished silver eagles attractive to coin
collectors. In their inaugural year of production, the 2006 burnished silver eagle
was released at an introductory
price of $20. It subsequently skyrocketed to $100 before eventually
settling in at its current price of approximately $70. Subsequent burnished
silver eagles were all released at reasonable prices, with the exception of the
2011-S burnished silver eagle, which was only available as part of a 25th
anniversary silver eagle set. This coin, along with the 2008-W,
reverse of 2007, are currently valued in excess of $300; however,
most other burnished silver eagles can be purchased for $50 or less. Pricing
for 2004-W burnished silver eagles have followed suit, with an introductory
selling price of $43.95.
Accessibility
One of the major hurdles for many coin collectors is having
access to the coins that they desire. With the exception of the 2008-W, reverse
of 2007 and the 2011-S burnished silver eagle, which were produced in
quantities of 47,000 and 100,000 respectively, reasonable quantities of these
coins were produced and are still available today at affordable prices. Not
only are they accessible, but since they’ve only been produced since 2006, a
complete set of burnished silver eagles can be acquired without too much effort
or strain on the wallet. Very few complete sets of numismatic coins can be
assembled for slightly over $1,000, making this an attractive option for coin
collectors.
Summary
In summary, burnished silver eagles are an intriguing option
for coin collectors due to their relatively low mintage, reasonable prices and
accessibility. The mintage of these coins is on par with proof silver eagles;
however, they can be acquired for up to 25 percent less than proof silver
eagles. Since burnished silver eagles can be purchased directly from the Mint,
coin collectors should be able to continue to add to their collection of
burnished silver eagles on an annual basis, making this one of the more
affordable and accessible coin options in the market today.