Collectors have been eagerly awaiting the release of the 2010 Proof Silver Eagle. Imagine their surprise yesterday when they received a mass email notification from the United States Mint that the product was “sold out” and their orders were canceled one week before the anticipated release date.
The Proof Silver Eagle is one of the US Mint’s most popular products. Featuring Adolph A. Weinman’s classic “Walking Liberty” design on one ounce of .999 fine silver struck with a proof finish, it makes an exceptionally beautiful item for collecting or gift giving. This did not stop the Mint from canceling the offering last year due to high demand for bullion coins.
This year’s offering was confirmed by the US Mint in early October when it was announced that the 2010 Proof Silver Eagle would go on sale November 19, 2010. The price would be $45.95 and a household limit of 100 would be imposed.
The email notification received yesterday by customers who entered orders through the US Mint’s subscription program was as follows:
Greetings from the United States Mint.
Thank you for ordering from the United States Mint.
We regret to inform you that the item(s) listed below
are currently sold out. A customer service representative
will be happy to assist you in finding an alternative item.Order #
Sold To
Ship ToItem: PS1 Qty:
2010 AE SILVER PRF 1 OZThis is a system generated e-mail. Please do not reply.
If you have questions, please visit the Help page at
http://catalog.usmint.gov or call us at 1-800-USA-MINT.
The mass emailing set off a torrent of calls to the US Mint’s toll free number. Many feared a repeat of the situation last year where the offering had been canceled due to bullion demand. After all, this year’s American Silver Eagle bullion coins are already in record territory for annual sales. The rising price of silver also seemed to have potential to impact the offering, which was priced more than a month ago.
Callers were told that the emails were sent in error and the subscriptions would be reinstated. It wasn’t until later that evening that a second email was sent to customers officially confirming that the offering was not canceled.
A mass emailing falsely announcing a product cancellation one week before the release date is certainly not a great way for the US Mint to ingratiate themselves with their customers– especially considering the many missteps of the recent past.
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