Originally Posted on 04/24/2017 @12:07pm
Last Edit Update 05/24/2017 @6:09pm
by Steven Warrenfeltz
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Last week, I was going over this Coin World article to update the mintage figures on this guide's American Silver Eagle page so they would better reflect the new information found in the article.
In my last blog post, on this subject, MISSING : 2014 American Silver Eagles, I wrote in detail about in the issues I found concerning the mintage figures for 2014 American Silver Eagle Bullion Coins.
See the numbers below and you'll see the obvious accounting issues that I found:
2014 | 2015 | 2016 | |
---|---|---|---|
San Francisco | 7,025,000 | 0 | 4,650,000 |
West Point | 23,450,000 | 46,920,500 | 31,900,000 |
Philadelphia | 0 | 79,640 | 1,151,500 |
U.S. Treasury / Coin World (FOIA)- ASE (BU) Mintage | 30,475,000 | 47,000,140 | 37,701,500 |
U.S. Mint - ASE (BU) Mintage/Sales | 44,006,000 (mintage) |
47,000,000 (sales) |
37,701,500 (sales) |
Difference | (-) 13,531,000 | (+) 140 | 0 |
Sources:
U.S. Mint: 2014 Mintage Figures
U.S. Treasury (FOIA): 2014 - 2017 American Silver Eagle Mintage Figures - (page 2)In that post, I posted an email that I wrote to the Managing Editor of Coin World - William T. Gibbs,
Mr. Gibbs forwarded my email to the author of the Coin World article; Mr. Paul Gilkes.
Paul's response is summarized below:
He informed me that his Managing Editor, (who I sent my first email to: seen here), alerted him to my email inquiry, he stated that didn't respond because he was on vacation.
From there, the email went from cordial to disrespectful, he stated the following in his email "There are NO missing coins. The 44,006,000 figure reflects SALES during calendar year 2014, not the number of coins DATED 2014."
He concluded his email stating: "Call me anytime and I can enlighten you further." (end of email)
Mr. Paul Gilkes,
I would like to respond to your email further; as I mentioned in my last email to you I know the differences between the mintage figures and sales figures.
Below is a breakdown from my website’s American Silver Eagles page (the numbers were retrieved from the U.S. Mint’s old website).
As you scroll down and view the mintage and sales numbers you’ll see that in no year was there ever a difference between the sales and mintage numbers of even 2.1 million coins, let alone 13+ million coins (the difference between the number of coins sold in 2014 (according to the US Mint) and the number of 2014-dated coins that were minted according to the Department of the Treasury’s response to your FOIA request).
Plus, I have attached the screenshot of a web page of the U.S. Mint’s website; it says on
the page that the sales are of ‘Year Dated Coins.’ (In response to Your CAPS Email argument of
enlightenment)
Furthermore, the mintage numbers for 2013 by the U.S. Mint have been recorded as 42,675,000, and in your article, the U.S. Treasury’s 2015 mintage from all three U.S. Mints add up to 47,000,140, just 140 American silver eagles over that year’s mintage.
So, from what year are the extra 13.5 million coins sold in 2014?
The point is something is wrong here, I don’t know what and I’m not accusing Coin World of anything. I’m not accusing anyone of anything; I’m simply pointing out a clear discrepancy and would like some answers.
Year Year Dated Coin
Mintage Annual Sales
1986.............5,096,000...........................5,393,005
1987............11,442,335...........................9,420,000
1988.............5,004,646...........................5,869,000
1989.............5,203,327...........................6,166,000
1990.............5,840,110...........................7,247,000
1991.............7,191,066...........................6,952,000
1992.............5,540,068...........................5,544,000
1993.............6,763,762...........................5,890,000
1994.............4,227,319...........................5,540,500
1995.............4,672,051...........................4,590,000
1996.............3,603,386...........................3,466,000
1997.............4,295,004...........................3,636,000
1998.............4,847,549...........................4,320,000
1999.............7,408,640...........................9,008,500
2000.............9,239,132...........................9,133,000
2001.............9,001,711...........................8,827,500
2002...........10,539,026..........................10,475,500
2003.............8,495,008...........................9,153,500
2004.............8,882,754...........................9,617,000
2005.............8,891,025...........................8,405,000
2006............10,676,522.........................10,021,000
2007.............9,028,036...........................9,887,000
2008............20,583,000.........................19,583,500
2009............30,459,000.........................28,766,500
2010............34,764,500.........................34,662,500
2011............40,020,000.........................39,868,500
2012............33,121,500.........................33,742,500
2013............42,675,000.........................42,675,000
2014............44,006,000.........................44,006,000
2015...........*to be announced.................47,000,000
2016...........*to be announced.................37,701,500
2017...........*to be announced.................8,212,500 as of 04/04/2017
*Official "Year Dated" Mintage Figures have not been released
Source: https://www.free-bullion-investment-guide.com/american_eagle_silver.html
In conclusion, I wanted to let you know that I won’t be calling you today, I’ve had the flu for the last 4-days and I still am not over it and I doubt you want someone to be sneezing, coughing and sniffing in your ear.
Furthermore, Mel Kassenoff an annual collaborator of the World Coin Book and who helped me with the mintage/sales figures on all of my website’s American Eagle bullion coin pages; agrees with my point of view on this subject and has sent a request to the U.S. Mint for clarification of the Mintage and Sales of all American Silver Eagles. (1986-2016).
Depending on their response, he may use the FOIA to obtain more information as well.
I will also be sending a copy of this email to your managing editor.
Sincerely,
Steven Warrenfeltz
www.free-bullion-investment-guide.com
I sent that email about an hour ago, it is now 11:50am (ET).
I will keep you informed as I find out more information.
Thank you for your time & God Bless,
Steve
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