Last week, the United States Mint opened sales for both the 2022-W American Eagle silver proof and the 2022 Congratulations Set, which contained the same coin. When sales opened at Noon Eastern on April 14th, both product immediately went into a backorder status. It came as little surprise given the Mint had hit is allotment of subscriptions for the silver proof and with a limited number of the Congratulations Sets available. Now it is a question of when – or if – the Mint will get this year’s 2022-W American Eagle back in stock.
For several weeks, the Mint has indicated that its Enrollment Program for the various American Eagle annual releases had been filled by subscribers. This was a first for the Mint on the American Eagle and has continued into other products set for release this year including the American Women Quarter Program products. However, some had speculated that a few of the Eagles would be available on release day. That appears to not have been the case. When sales opened, I observed that it was in a backorder status instantly, suggesting that no coins were available for sale. The Congratulations Set was available for just a few minutes before it went into the same status.
The question now for collectors is if the Mint will produce any more of the Eagles for sale. Chances seem slim. Bullion supply has been limited this year and the Mint has already cancelled some planned releases such as the 2022 Morgan and 2022 Peace Dollars. It seems unlikely that the Mint will produce any more Eagles than the current allotments due to this constraint, at least for now. If bullion supplies are more readily available after the first half of the year, it is possible the Mint could product a small batch for sale.
Realistically, for collectors, if you want to add a 2022-W American Eagle silver proof to your collection, the secondary market is likely your most realistic way of obtaining the coin.