2016 W Silver Eagle 30th Anniversary Edge Lettered 2019 W.P. Mint Hoard NGC PF70 UCAM Mercanti Signed Black Core
Throughout the 33 years of the Proof Silver Eagle program, only one year stands out where they applied a unique feature to the coin separating it from all other issues. You may know in 2016, the Mint struck all Proof Silver Eagles and Burnished Silver Eagles with the edge lettering, “30th Anniversary”. This came as a delight to Silver Eagle collectors that always enjoy when there are changes to the #1 collected coin in the world.
The mintage of the 2016 Proof listed in the Redbook is only 595,843 coins, which is average for this program. But listen to this. The Mint conducted a bit of an audit on their inventory and found they had a hoard of 183,781 Proof Silver Eagle dated 2016 with the edge lettering. Rather than subject these unique Proof 2016-W American Eagle silver dollars to the standard “de-trashing” protocol, the U.S. Mint recently sold the coins by sealed bid to bulk buyers.
The Mint’s chief marketing and sales officer, Matt Holben, shared this information during the Mint’s Fourth Annual Numismatic Forum Oct. 24 and 25 in Philadelphia. He explained that under the usual protocol, once sales totals are officially audited, any unsold product in the Mint’s inventory is de-trashed meaning the coins are separated from their packaging and sent for melting and metal reclamation. The packaging is then shipped to a waste disposal facility for ultimate incineration.
This was a great acquisition by 4 major dealers in the U.S., and many of these coins found homes in IRA accounts. A few thousand coins made their way to the grading services where they researched and had to come to a decision on how to pedigree these coins. Technically, the coins were sold 3 years after their release so for the first time, we are seeing an implied date on this label stating 2016 W, then a (2019) in parentheses.
|Year of Issue||2016|
|Label||Mercanti Signature Label|
|Pedigree||John Mercanti Signature, West Point Mint Hoard|
|Weight||1.000 troy oz (31.103 grams)|
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