Why Do (S) Mint Silver Eagles Exist?

Before we can tear off on to why these coins exist, a little coin history is in order. The Mint started production of the American Silver Eagles back in 1986 and collectors immediately loved them! The Mint produced the coins in two strikes: uncirculated and proof. The proof strikes of the Silver Eagles always carry a mintmark (W,P, or S) but the regular uncirculated coins do not have a mintmark and are typically struck at the West Point Mint in New York. So how does this (S) mint coin exist?

As the popularity of the Silver Eagles grew, so did the amount of coins being struck. West Point soon learned they could not keep up and needed some help! By the year of 2011, West Point started sending dies and blanks to San Francisco to help them keep up with demand. Collectors and dealers knew this would be an extremely collectible coin but if there are no mintmarks, how do you tell where the coins were made? The answer was the packaging. During those years, San Francisco's 500 coin monster boxes were security wrapped with "San Francisco" on the bands. However, if the band is removed, can you then tell them apart? You can't!

The Birth of the Parentheses (S)

Everyone knew that if the bands were removed there was no way to tell where the coins were actually struck. Soon complete banded boxes of 500 coins were landing at Numismatic Guaranty Corporation's doorstep. Since the coin did not have an actual mintmark, NGC notated the coin was struck at San Francisco by putting a parenthesis around the S and a new collectible was born.

The collectible (S) Mint Silvers would be certified from 2011 to 2014 before the Mint would change the way coins were banded, making it almost impossible to figure out where the coins were being struck. Until recently, collectors thought the (S) Mint coins were through. However, in March of 2017, the game would change! NGC soon began to realize the monster boxes of Silver Eagles coming through their door had certain serial numbers in common and thought they were on to something. They inquired of the U.S Mint and the Mint responded with... we're not telling!! NGC reminded the Mint about the Freedom of Information Act and that a lawsuit was in order. Well, that is cause for concern and the Mint released the information.

It turns out that NGC was correct, they had broke the code and were once again able to identify the (S) Mint Silver Eagles! Currently, the 2016(S) and 2017(S) Mint Silver Eagles are beginning to appear but in much smaller numbers than before. As always, it's the little details in coins that can often separate good from great!