2010 Proof Silver Eagle Coins Launch

The US Mint today began selling the long-awaited 2010 Proof Silver Eagle coin, filling a void that has been felt by many collectors for over two years now.

Opening demand was strong for the silver eagle, which resulted in early issues with the US Mint’s ordering system. This was not much of a surprise, however, as order volume was expected to be enormous owing to a series of events surrounding Silver Eagles over the last two years. The US Mint even took the pro-active approach of placing a statement regarding the potential for system issues on its homepage, stating:

"We anticipate unusually high demand for the American Eagle Silver Proof Coins, which the United States Mint will make available for sale on November 19, 2010, at noon ET. Because of the high number of customers that we expect to be placing orders during the first few hours of sales, you may experience delays when attempting to order online or through the call center during this period. We apologize for any inconvenience this may cause and appreciate your patience."

Customer attempts to place orders on the US Mint’s website and through its toll-free ordering system were met with delays during the first roughly two hours following their release.

A call made to the US Mint customer service line run by Pitney Bowes Government Solutions was answered with a response: "Don’t worry. We won’t sell out. We’re going to mint to meet demand."

However, by mid-afternoon the US Mint caught up with the initial proof order onslaught and its site and phone system were operating as normal.

The Proof Silver Eagle has not been available since August 2008. At that time, they were unexpectedly pulled and never returned. The US Mint explained that it was directing available blank silver planchets for the production of the bullion Silver Eagle coins instead, which it is required by law to strike to meet demand. That demand was at record levels owing to the uncertain economy of the time.

Bullion coins continued to be scooped up at record levels into 2009. As a result, the US Mint canceled the 2009 Proof Silver Eagle entirely. It was the first time an annual version of the proof had not been available since their debut back in 1986.

The first months of 2010 saw no let-up for bullion demand, adding to uncertainty and leading many to think that the silver coins could once again get canceled. However, the Mint was able to work with its blank planchet suppliers in order to triple the amount of available planchets and announced in October that the 2010 proof would be released today.

The 2010 Proof Silver Eagle has been priced at $45.95 each. There is a household limit of 100 coins. Those wishing to order the .999 fine silver coins may do so from the US Mint website (http://catalog.usmint.go), or its toll free number 1-800-USA-MINT (872-6468).