Although still far from certain, there is renewed hope that the United States Mint might produce 2010 Proof Silver Eagles. Last year, the collectible versions of the American Silver Eagle had been canceled due to excessive demand for the bullion version.
Edmund Moy, Director of the United States Mint, recently delivered testimony at a House subcommittee meeting on “The State of U.S. Coins and Currency.” His testimony included mention of a proposed change in law that the subcommittee was already considering, which would allow the production of Proof Silver Eagles.
Under current law, the US Mint is required to produce American Silver Eagle bullion coins in quantities sufficient to meet public demand. The Mint has not been able to meet the full demand, so they have sourced all precious metals blanks supplies to the production of bullion coins, in an effort to satisfy as much demand as possible. Accordingly, they have foregone production of the collectible uncirculated and proof versions of the coin.
The change in law would allow the production of collectible versions of the coin, even if full demand for bullion coins was not met. If enacted, Director Moy stated that the Mint could produce 200,000 collectible Silver Eagles per month. Assuming production could begin in September, this would result in about 830,000 coins produced by the end of the year.
If you would like to make a comment, please fill out the form below.
