Sunday, May 19, 2013

The new 2013 West Point 2 coin Silver Eagle set should be hot stuff

Early feedback on the two-coin West Point Silver American Eagle set is that the U.S. Mint has a strong player. On the heels of the San Francisco set of last year, which remains very in demand, this West Point set is trending very much the same way.

I think that sales numbers for the 2013 set are going to well exceed the sales numbers for the 2012 two-coin San Francisco set. The SF set sold approximately 225,000 sets (don’t hold me to the exact number) and the WP set looks to be at least 275,000 in sales. This is still very, very low mintage and the price will quickly be determined by the “non-availability” as collectors buy and hold their purchases.

Resale prices should still provide early buyers with a decent profit margin. This is especially true when you consider the vast NGC varieties of labels. And I guess the same is true for PCGS,  but I am not as close to those options as I am NGC. Now the speculator has to look beyond mintage numbers and guess about “hot labels” as he/she buys product.

TIP: One label that has lost favor in the last couple years is the NGC “Blue” Early Releases label. This label has been replaced by First Strikes, 1 of first 200 struck, and similar such labels

The other factor that holds the interest in these sets is the Reverse Proof coin. These are always highly sought after and this WP set Reverse Proof will be the same.

Along with the success of the SF set of last year, is that the overall public sentiment about the economy is up. The stock market is up and the outlook on jobs and employment is very positive. And we all know that our government is still printing money at record paces J.

I personally do not buy from the Mint on these sets. I wait for 70 grade coins to hit the market and pay that premium for quality grades. The profit margin will likely be better right after the initial Mint orders have been filled. And as this set gets traction, other prior sets may get a new little price burst based on credibility of SF in 2012 and this new WP set. The loyal Silver Eagle collectors will definitely buy this set, either from the Mint ungraded, or graded at a later date. And the silver bullion “underpinning” value will have virtually no effect on these sales.
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