Wednesday, September 14, 2011

2008 Silver American Eagle Error Coin

The purpose of this guide is to informpotential buyers of these coinssome particulars of which coins are "error" coins and which are not.
I wrote my first guide within a very few days of the first listing of these coins. Soon after NGC had certified some as 2008 W (burnished) with the 2007 reverse.
What is important to note is that, to my knowledge, it is only the burnished version ,which can be purchased from the U.S. Mint, that has been found to have the 2007 reverse and not the bullion or proof versions.
If you don't understand the difference, bullion coins are the standard mint silver eagle that is distributed thru dealers. They cannot be bought directly from the mint. They are intended for the investor who wishes to purchase silver without the premium built into proof, burnished or certified coins, although the latter can gee in all forms. Bullion eagles do not have the mint mark on the reverse side as burnished and proof eagles do.
The U.S. Mint sells the proof and burnished coins directly to the public. They both bear the mint mark on the reverse. As most of you already know, the proof coins have a mirror like finish because they are struck many times with the die. The burnished eagles are kind of a mid-grade coin that is struck on special blanks prepared by the mint and carry more of a satin-like finish.
Again, to my knowledge it is only the burnished eagles with the W mint mark on the reverse that have been found to contain the "error". I point this out because I have seen some bullion sellers advertise that their coins have not been searched for errors which could cause some buyers to pay a premium thinking they have an opportunity to find one in a bullion coin which to my knowledge has not been reported.
If you have found this guide interesting or helpful please take the time to vote YES! Thanks, J R

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