NGC has issues a Press Release announcing that they will be attributing Emergency Production status and labels to American Eagle silver bullion coins struck in Philadelphia. At the height of the COVID-19 (Coronavirus) pandemic, the United States Mint temporarily shifted minting of the American Eagles from West Point to Philadelphia. This was done between April 8, 2020 and April 20, 2020. In all, there were approximately 240,000 of them struck, making it almost an instant key coin for the series.
NGC is very clear in the Press Release what it takes to have a coin earn this Emergency Production designation, including the fact that the coins must be sealed in their “monster box” (a box from the Mint to authorized purchases that contain 500 coins).
Numismatic Guaranty Corporation® (NGC®) will attribute eligible bullion 2020 Silver Eagles to the emergency production at the US Mint facility in Philadelphia.
According to official US Mint documentation dated April 27, 2020, a total of 240,000 American Silver Eagles were struck at its Philadelphia facility from April 8 to April 20, 2020. Bullion Silver Eagles, which have no mintmark, are normally struck at the West Point Mint and, in some years, the San Francisco Mint.
Production of Silver Eagles was temporarily supplemented by the Philadelphia Mint due to the coronavirus emergency. There has been tremendous demand for silver and gold coins during this time, but production at the US Mint and mints around the world has been impacted by shutdowns and logistical issues.
The US Mint sells Silver Eagles to a network of distributors called “Authorized Purchasers” packaged in “monster boxes” that each hold 500 coins. The Silver Eagles struck at the Philadelphia Mint have tracking numbers 400,000 through 400,479 on their sealed US Mint monster box.
Eligible coins will be identified by NGC with the description “Struck at Philadelphia Mint, 2020(P) Eagle S$1, Emergency Production.” With a mintage of just 240,000 coins, the 2020(P) Struck at Philadelphia Mint Silver Eagle is the second-rarest issue in the 34-year history of the bullion American Silver Eagle series.
Coins identified with the “2020(P) Struck at Philadelphia Mint, Emergency Production” attribution will be listed separately in the NGC Census.
- NGC must receive the coins in the sealed US Mint “monster box” to qualify for the special attribution.
- 2020(P) Struck at Philadelphia Mint Silver Eagles will be eligible for the Early Releases or First Releases designation if received on or before May 26, 2020.
- Contact Scott Heller at Sheller@NGCcoin.com or 941-360-3990 or Miles Standish at Miles@NGCcoin.com or 949-922-0515 for additional details.
3 thoughts on “NGC to Attribute Emergency Production 2020 Bullion Silver Eagles from the Philadelphia Mint”
Why can’t the average collector buy these coins from the mint instead of the aftermarket.
This is BS that a few can buy them for $20 and sell them for $300.
Normally coins can be purchased at the mint but collectors want the coins graded because the grading raises the value of the coins each year. An ordinary person like yourself whom would prefer to purchase a silver coin from the mint can do so but the coin will not go up in value the same as a graded coin. So then the graded coins value, once it has been graded increases not just because of the grading but because of the circumstances of the coin. Each grading company (PCGS, NGC, ANACS or IGC) guarantees that the coins they sell are worthy of the comments printed on the label and those comments can be very valuable depending on their circumstance. If you were fortunate enough to acquire a coin from the mint at the earliest possible time of its release, you would have a difficult time proving your find but a graded coin by one of the above companies has already done that work and is guaranteeing that what is written on the label is whole and true because they hold all the necessary documentation for you. Also, the coins that ordinary citizens (like you and I), are bought long after the grading companies because the US Mint is a business like any other and is selling it’s wares (coins) to those that can afford to buy them in bulk, which translates into money by the millions.
Over time will this coin go up ?