Mint News Blog

2009 Proof Platinum Eagle Design Unveiled

2009-11-20T09:15:00.000-08:00

Today, the United States Mint unveiled the reverse design for the upcoming 2009 Proof Platinum Eagle. The Mint had previously announced the upcoming availability of the coin, but the reverse design was not revealed until today.

The new reverse design is intended to represent the the principle "To Form a More Perfect Nation." This is symbolized by four faces with intertwined hair and clothing to represent the diversity of the Nation. The reverse will also include a new American Eagle "privy mark" from an original "coin punch" identified at the Philadelphia Mint. This mark will satisfy the legal requirement that an eagle appear on the reverse of the coin. The reverse was designed by Susan Gamble and engraved by Phebe Hemphill.

This reverse design had been recommended by the Citizens Coinage Advisory Committee. The Commission of Fine Arts had favored a design depicting a small tree with thirteen leaves. Other potential design candidates had included fasces (like on the reverse of the Mercury Dime), plants, trees, and interlocking hands.

This will begin a new six year program of reverse designs of the collectible Platinum Eagle. The new program will commemorate the core concepts of American democracy by featuring the six principles of the Preamble of the United States Constitution. Future designs will feature the following themes: To Establish Justice (2010), To Insure Domestic Tranquility (2011), To Provide for the Common Defense (2012), To Promote the General Welfare (2013), and To Secure the Blessings of Liberty to Ourselves and our Posterity (2014).

The one ounce 2009 Proof Platinum Eagle will be the only platinum coin released by the United States Mint this year. All collectible uncirculated coins and fractional proof coins were previously announced as discontinued. All bullion coins were officially canceled in a sweeping announcement made last month.

The 2009 Proof Platinum Eagle will go on sale December 3, 2009 at 12:00 Noon ET. The projected price of the coin is $1,692.00 based on an average platinum price between $1,350 and $1,449.99. The United States Mint has indicated a maximum production of 8,000 coins and an ordering limit of five coins per household.

First Spouse Gold Coin Mintages

2009-11-20T06:15:00.000-08:00

The First Spouse Gold Coin series began with much excitement in 2007. The first three coins released sold the maximum authorized mintage of 40,000 coins in less than one day. As the series has progressed, collector interest has dwindled resulting in lower sales and relatively low mintages.

There are currently five First Spouse coins available directly from the US Mint. This includes four releases from 2009 and the final 2008 release featuring Martin Van Buren's Liberty. On December 4, sales will begin for the final release of 2009 featuring Margaret Taylor, and sales of the Van Buren's Liberty coin will end. There are seven previous issues of the series that are no longer available for sale.

Sales figures for all released First Spouse Gold Coins are presented below. This data is based on the latest weekly sales report and earlier data. Coins listed in italics still remain available for sale directly from the US Mint.

	Uncirculated	Proof	Total
Martha Washington	20,000	20,000	40,000
Abigail Adams	20,000	20,000	40,000
Jefferson's Liberty	20,000	20,000	40,000
Dolley Madison	12,541	18,355	30,896
Elizabeth Monroe	4,519	7,933	12,452
Louisa Adams	4,223	7,454	11,677
Jackson's Liberty	4,754	7,806	12,560
Van Buren's Liberty	4,229	7,314	11,543
Anna Harrison	3,027	5,843	8,870
Letitia Tyler	2,411	4,399	6,810
Julia Tyler	2,232	3,929	6,161
Sarah Polk	1,985	3,664	5,649

So far, the low for the series (considering coins no longer available at the US Mint) remains as the 2008-W Uncirculated Louisa Adams coin at 4,223. This low will stand until at least 2010 since the Van Buren's Liberty uncirculated coin has just surpassed this level.

Most of the sold out First Spouse Coins can be tracked down relatively easily. Prices are usually in the $600 to $700 range. The highest prices seem to be coming for the Andrew Jackson's Liberty coin, which sells above this range. Top graded NGC and PCGS certified coins also drive an extra premium.

There has been a lot of thoughtful discussion about the future prospects for the First Spouse Gold Coins in terms of potential price appreciation. The main argument in favor of the series is the low mintage of many issues. In the past, coins which have been unpopular or overlooked while offered, became desirable rarities after sales ended and the low final mintage attracted new interest. The most notable example of this is the 1997-W Uncirculated Jackie Robinson $5 Gold Coin with a mintage of 5,174 coins. The value of the coin has risen from the initial $180 to ~~more than $4,000~~ around $3,000.

Another argument in favor of the series is that it will experience renewed interest when better known First Spouses are honored. New collectors will enter the series, with some eventually deciding to seek out older low mintage issues of the series to issues to build a complete collection. There are actually two releases coming in 2010 which should be popular.

The James Buchanan's Liberty coin will be released in the second half of the year. Since Buchanan never married, the obverse design will feature the image of Liberty from a circulating coin of his era. The CCAC has supported using the design from the Coronet Gold $2.50 Quarter Eagle. This will be the fourth and final coin in the "Liberty" subset of the First Spouse series, and the only one to feature a design from a classic gold coin. Also, the final release of 2010 will feature Mary Todd Lincoln. Coins related to Lincoln have always been popular with collectors and this coin together with the 2010 Lincoln Presidential Dollar should be popular.

Arguments against the series center around the limited popularity and low demand, which might always be the case despite the low mintages. Other gold coins with extremely low mintages, like the Jackie Robinson coin, were part the broader modern commemorative series. The mintage of 5,174 was extremely low when compared to other $5 gold commemorative coins, making it a standout for the entire series. In the case of the First Spouse Gold series, it seems likely that there will be numerous issues with mintages in the 4,000 to 5,000 range or lower. This might dampen some of the appeal of the low mintage coins since none of them will be a singular standout.

As a final consideration, prices of the coins are likely to remain heavily influenced by the price of gold. Each coin contains one-half ounce of gold, which currently represents the majority of the value for each coin. The rising price of gold obviously can work in favor of the series. The first three releases were originally offered at $410.95 and $429.95. Prices of the coins have increased, largely in line with the rise in the price of gold. If the price of gold falls, the opposite scenario would likely occur. The lower mintage coins may be more insulated against a changes in the price of gold, but would likely still be impacted.

Personally, I have been a buyer of the series, starting with the 2008 releases. I purchased most of the 2009 releases when prices were lower. I haven't decided whether I will buy the upcoming Margaret Taylor coin when sales begin, or try to wait for a lower price.

I haven't done a poll for a while, but this seems like a good subject for one. How will First Spouse Gold Coins Perform in the Future?

How will First Spouse Gold Coins Perform in the Future?(opinion)

Zachary Taylor Presidential Dollar Rolls

2009-11-18T11:58:00.000-08:00

The Zachary Taylor Presidential Dollar Rolls will go on sale at the United States Mint on Thursday, November 19, 2009 at 12:00 Noon ET. This will represent the final release of the Presidential Dollar series for 2009.

Zachary Taylor was the 12th President of the United States who served for 16 months from 1849 to 1850. The obverse of the coin displays his portrait and the inscriptions "In God We Trust", "12th President", and "1849-1850". The reverse of the coin features the Statue of Liberty along with inscriptions "United States of America" and "$1". The date, mint mark and "E Pluribus Unum" are included as incuse edge lettering. Both the obverse and reverse of the coin were designed and sculpted by Don Everhart.

The US Mint's roll offering includes 25-coin rolls from either the Philadelphia Mint or the Denver Mint. The rolls are packaged in custom US Mint wrappers which indicate the President, mint of origin, and face value. The rolls are priced at $35.95 plus shipping and handling charges.

Previous 2009 Presidential Dollar Roll offerings have experienced mixed success. The William Henry Harrison Dollar Rolls sold out unexpectedly, after recording sales of 30,000 rolls for each mint. Secondary market prices jumped with the rolls still selling for prices in the $150 to $200 range. The following John Tyler Dollar Rolls also sold 30,000 rolls from each mint, but currently seem to be selling for below issue price.

The James K. Polk Dollar Rolls still remain available for sale at the US Mint. As of the latest weekly sales report, the US Mint has recorded sales of 36,954 of the Philadelphia rolls and 35,928 of the Denver rolls.

Slowing Sales for 2009 Proof Gold Buffalo

2009-11-17T15:09:00.000-08:00

The pace of sales for the 2009 Proof Gold Buffalo has showed a constant, steep decline since sales began on October 29, 2009. The latest sales report shows 4,316 coins sold in the latest weekly sales period.

The total number of coins sold to date is now 32,271. This is comprised of 19,468 coins sold during the opening three days, then 8,487 coins sold during the following week, and 4,316 coins sold in the most recent week ending November 15.

It is common for the pace of sales for newly released US Mint products to decline significantly following their initial release. The Ultra High Relief Double Eagle showed an even steeper rate of decline following its release. After selling more than 40,000 coins in the opening 3 days, less than 5,000 coins were sold in the following two weeks. By the sixth week, less than 1,000 coins were sold in a week.

The 2009 Proof Gold Buffalo has been holding up better by comparison. Sales have been supported by the lack of household ordering limits and the general popularity of the Gold Buffalo series. Factors holding down the rate of sales include anticipated higher mintage and the relatively high price of the coin, which was just raised this week to $1,410.

In the long run, some collectors are hoping for a low mintage for the 2009 Proof Gold Buffalo to support future premiums. It does seems likely that the 2009 mintage will fall below the level of the 2007 Proof Gold Buffalo which had 58,998 coins minted. It has already surpassed the low set by the one ounce 2008 Proof Gold Buffalo which was recently adjusted to 25,496 (unconfirmed).

Go to Coin Update News for a complete US Mint sales report for November 15, 2009.

2009 Lincoln Penny Launch in Washington DC

2009-11-17T11:07:00.000-08:00

On November 12, 2009 the United States held the launch ceremony for the final 2009 Lincoln Cent. The "Presidency" design was the last of four different reverse designs issued for Lincoln's bicentennial, to represent the different stages of his life.

The launch ceremony was held at the Ulysses S. Grant Memorial Statue at the U.S. Capitol Building in Washington, DC. Weather for the event was cold and rainy, which likely had an impact on the turnout. An estimated 200 people were on hand for the event. Many who might have attended the ceremony may have opted to go to other Washington DC area coin exchange locations which were held indoors.

You can read a full report of the launch ceremony by Les Peters on Coin Update News. The article includes some pictures from the launch ceremony, a few of which are also reproduced at the end of this post.

As with prior 2009 Lincoln Cent launches, rolls of the new design obtained from the launch ceremony and other locations have already been put up for sale on eBay. Stamped and USPS canceled rolls from the ceremony have been selling for around $15 each. Unmarked rolls have sold for less, with some 50 roll boxes sold for $80 ($1.60 per roll). Sales activity is certainly much different than the frenzy following the release of the first design. At the time, some single rolls sold for as much as $50 each.

Here are the current 2009 Lincoln Cent Presidency Rolls on eBay.

Last week's ceremony also might be viewed as the end of the year of Lincoln. This year many of the US Mint's most popular products have been centered around Lincoln's bicentennial. Sales of core annual products have also been impacted by the inclusion of special versions of the 2009 Lincoln Cent.

Earlier this year, the US Mint issued the 2009 Abraham Lincoln Commemorative Silver Dollars in proof and uncirculated versions. Throughout the year, four separate Two Roll Sets were issued for each 2009 Lincoln Cent design release. Special 95% copper 2009 Lincoln Cents were produced for inclusion in the 2009 Proof Set, 2009 Silver Proof Set, 2009 Uncirculated Mint Set, and separate 2009 Lincoln Proof Set. Lastly, the Lincoln Coin and Chronicles Set was issued in October, sold out in about 30 hours, and went on to rapid secondary market success.

Although the Bicentennial year will have concluded, there are two new Lincoln coins on the horizon for next year. As covered in a prior post, the 2010 Lincoln Cent will be released featuring a brand new reverse design. Additionally, the 2010 Lincoln Presidential Dollar will be released towards the end of the year. The final design for the Presidential Dollar coin featuring Abraham Lincoln has not yet been announced.

Photos from the 2009 Lincoln Cent Presidency design launch ceremony.

Coverage of prior 2009 Lincoln Cent launch ceremonies:
Hodgenville, Kentucky - Birthplace Cent
Lincoln City, Indiana - Formative Years Cent
Springfield, Illinois - Professional Life Cent

Updated 2008 Gold, Platinum, Silver Eagle and Gold Buffalo Mintages

2009-11-13T09:28:00.000-08:00

The United States Mint recently released updated mintages for most collectible 2008 precious metals coins. This includes uncirculated and proof versions of the 2008 Gold Eagle, Platinum Eagle, Silver Eagle, and Gold Buffalo coins. In a few cases, the updated numbers have caused a dramtic change in mintage.

The table below presents the final updated sales figures by product. A total column has been added to compute the total mintage for coins included in multiple products options. For the most part, this total is computed by adding the individual sales with the 4 Coin Set sales. The one exception is for the 1/2 oz. Uncirculated Gold Eagle and Gold Buffalo totals, which also include Double Prosperity Set sales figures.

	Per Option	Total
2008 Silver Eagles
Proof	700,979
Uncirculated	436,702

2008 Gold Eagles
1 oz. Proof	17,720	30,237
1/2 oz. Proof	10,085	22,602
1/4 oz. Proof	6,360	18,877
1/10 oz. Proof	15,599	28,116
4 Coin Proof Set	12,517

1 oz. Uncirculated	9,057	11,908
1/2 oz. Uncirculated	5,209	15,682
1/4 oz. Uncirculated	6,032	8,883
1/10 oz. Uncirculated	9,806	12,657
4 Coin Uncircualted Set	2,851
Double Prosperity Set	7,622

2008 Platinum Eagles
1 oz. Proof	2,508	4,769
1/2 oz. Proof	1,759	4,020
1/4 oz. Proof	1,892	4,153
1/10 oz. Proof	2,877	5,138
4 Coin Proof Set	2,261

1 oz. Uncirculated	1,593	2,876
1/2 oz. Uncirculated	970	2,253
1/4 oz. Uncirculated	1,198	2,481
1/10 oz. Uncirculated	2,423	3,706
4 Coin Uncirculated Set	1,283

2008 Gold Buffalo
1 oz. Uncircualted	3,025	9,074
1/2 oz. Uncirculated	3,237	16,908
1/4 oz. Uncirculated	3,900	9,949
1/10 oz. Uncirculated	11,380	17,429
4 Coin Uncirculated	6,049
Double Prosperity Set	7,622

Mintages for US Mint products tend to see some minor adjustments from the final reported sales figures, but some of the changes for 2008 have been extreme. One of the most extreme changes was for the 2008 Proof $10 Gold Eagle individual coin which saw sales adjusted from 15,229 to 6,360. This coin now becomes the lowest mintage $10 Proof Gold Eagle with a mintage of 18,877 coins.

The stand out number for Gold Eagles still remains the 2008-W Uncircualted $10 Gold Eagle with a new final mintage of 8,883 coins. This remains as the lowest mintage ever for a Gold Eagle.

A dramatic change in the number for 2008-W Uncirculated Platinum Eagle Four Coin Set sales caused total mintages to decline significantly for the individual coins contained in the set. Except for the 1/10 oz, the new mintages for each coin now fall below the levels of the 2006-W Uncirculated Platinum Eagles. The 2008-W Uncircualted $50 Platinum Eagle also becomes the lowest mintage Platinum Eagle ever at just 2,253 coins.

Other changes were less significant, but mostly served to lower the mintages which had been computed based on the last reported sales figures. Numismaster has a side by side comparison with the old numbers here.

2010 Lincoln Penny Design

2009-11-12T07:07:00.001-08:00

Today, the United States Mint revealed the reverse design that will be used for the 2010 Lincoln Cent. Design candidates had been released in May 2009, but the final decision was not known until today. In addition to 2010, the new design is expected to be used for the reverse of the Lincoln Cent for the foreseeable future.

The design features a union shield with a scroll draped across bearing the denomination "One Cent". The shield features thirteen vertical stripes and a horizontal bar with the motto "E Pluribus Unum." This is intended to represent the thirteen original states joined in one compact union. The union shield was used during the Civil War and appears in the halls of the U.S. Capitol Building on frescoes by Constantino Brumidi, the artist at the Capitol during Lincoln's presidency. The reverse was designed by US Mint Artistic Infusion Program Associate Designer Lyndall Bass and sculpted by Joseph Menna.

The announcement was made at today's fourth 2009 Lincoln Cent launch ceremony held in Washington, DC and also by press release. Under Public Law 109-145, the reverse of one cent coins issued after December 31, 2009, shall feature an image "emblematic of President Lincoln's preservation of the United States of America as a single, united country."

The Citizen's Coinage Advisory Committee had favored this design after reviewing design candidates provided by the US Mint. The Commission of Fine Arts had initially favored a design featuring a bundle of thirteen wheat stalks, but switched their recommendation to a 34 star flag after the wheat stalk design was removed from consideration.

US Mint Numismatic Gold Coin Prices Rising Today

2009-11-11T04:16:00.000-08:00

Yesterday evening, I checked the London Fix prices for gold and calculated that unless gold was $1,114.75 or higher, prices would remain unchanged for the US Mint's numismatic gold products. This seemed unlikely since gold was around $1,105 at the time. However, this morning the London AM Fix came in at $1114.75. Accordingly, the prices of US Mint gold products will rise today.

Under the pricing policy adopted by the US Mint earlier this year, the prices for gold and platinum numismatic products may be adjusted as frequently as once per week based on the changing price of gold. The average is calculated for the London Fix prices from the prior Thursday AM to Wednesday AM of the current week. Price changes for gold products occur when the average reaches $50 increments. Current prices are set for the $1050.00 to $1,099.99 increment.

The London AM Fix prices for the current period are shown in the table below. The average comes to exactly $1,100.

Nov 5	Thurs AM	1,088.00
Nov 5	Thurs PM	1,089.00
Nov 6	Fri AM	1,095.00
Nov 6	Fri PM	1,096.75
Nov 9	Mon AM	1,108.50
Nov 9	Mon PM	1,106.75
Nov 10	Tues AM	1,099.75
Nov 10	Tues PM	1,101.50
Nov 11	Wed AM	1,114.75

The price for the Ultra High Relief Double Eagle Gold Coin will rise from $1,439 to $1,489 per coin. The price for the 2009 Proof Gold Buffalo Coin will rise from $1,360 to $1,410. The prices for First Spouse Gold Coins will rise from $691 and $704 for uncirculated and proof versions to $716.00 and $729.00. The new prices will represent the highest on record for each product.

Price adjustments have usually become effective around 10AM-11AM on Wednesday.

On an interesting related note, the US Mint's published pricing grid has almost run out of price tiers for gold. When the grid was created price tiers were provided for the average price of gold from $500.00 per ounce to $1,199.99 per ounce.

Update: Prices remained unchanged as of this evening. As a few people posted in the comments, perhaps the prices were not updated because today is Veteran's Day. I will post any additional information that becomes available.

Update 2: The US Mint adjusted prices higher around 12:00 Noon ET on Thursday.

2009 Lincoln Cent Presidency Design Release and Launch Ceremony

2009-11-10T14:37:00.000-08:00

On November 12, 2009, the final 2009 Lincoln Cent design will be released by the United States Mint. The release will be marked by an official launch ceremony in Washington DC, the unveiling of the 2010 Lincoln Cent design, and the start of sales for the 2009 Lincoln Cent "Presidency" Two Roll Set.

The 2009 Lincoln Cent "Presidency" design features a view of the half completed United States Capitol dome. This is intended to symbolize a National torn apart by civil war, and the resolve Lincoln showed as he guided the country through the crisis. The reverse was designed by Susan Gamble and sculpted by Joseph Menna.

The official launch ceremony will take place on November 12, 2009 starting at 10:00 AM ET. The event will be held in Washington DC at the Ulysses S. Grant Memorial Statue, below the west front of the US Capitol Building. Similar to prior launch ceremonies, attendees will have the opportunity to exchange currency for rolls of the new coins after the ceremony. The US Mint has indicated that the exchange will be subject to a minimum of two rolls and a maximum of six rolls per person.

Similar to previous 2009 Lincoln Cent releases, coin exchanges will also be available at other US Mint locations in Washington, DC. This includes the US Mint sales counter located at Union Station and the first floor of the US Mint's headquarters at 801 9th Street NW.

Coin World has reported that the US Postal Service has created special postal cancellation for the Washington DC launch. The cancellation will be available at the Postal Museum, located at 2 Massachusetts Ave NE, directly across from Union Station.

The launch ceremony will include the unveiling of the designs to be used for the 2010 Lincoln Cent. The new reverse design is intended to be "emblematic of President Lincoln's preservation of the United States of America as a single and united country." A total of eighteen design candidates were released by the United States Mint earlier this year. The designs featured views of the Capitol building, American flags, shields, eagles, and a bundle of wheat stalks, which was subsequently withdrawn from consideration.

The Commission of Fine Arts and the Citizens Coinage Advisory Committee reviewed the design candidates. The CFA favored a design featuring an American flag with 34 stars, and the CCAC favored a design featuring a shield. The final decision is up to the United States Treasury Secretary.

On November 12, 2009 at 12:00 Noon ET, the United States Mint will also offer the 2009 Lincoln Cent Two Roll Set for the Presidency design. Each set will contain one 50-coin roll from the Philadelphia Mint and one 50-coin roll from the Denver Mint. The rolls will be packaged in custom designed paper wrappers which denote the year, mint, and face value of the coins.

The rolls are priced at $8.95 each. There is an ordering limit of five sets per household. The US Mint's product page can be found here.

Previous two roll sets have been popular with collectors. The Birthplace Two Roll Set sold out in two weeks after selling 96,000 units. The Formative Years Two Roll Set sold 300,000 units and remained on sale briefly after the release of the third design. The Professional Life Two Roll Set is still currently available for sale from the US Mint and has sold 245,061 units as of the last weekly reporting period.

Today on Coin Update News:
US Mint Sales Report for 11/8/09

New Episode on Coins TV:
Peace Dollar Video

US Mint Coin Production October 2009

2009-11-10T11:12:00.000-08:00

The United States Mint has updated coin production figures to reflect coins produced through the end of October 2009. The overall production level rebounded from the prior month when production had dipped to some of the lowest levels of the year.

A total of 353.8 million coins were produced in October. The biggest contributor was the Lincoln Cent, with 266 million of the new Presidency design produced across both mints. The US Mint also produced quarters and Presidential Dollars at both mints. The Philadelphia Mint produced 200,000 Kennedy Half Dollars to bring their total half dollar production in line with the Denver Mint.

The table below presents the coins produced by the US Mint for the month of October and the entire year to date.

2009 US Mint Coin Production Figures
	October 2009	Jan 2009 - Oct 2009
Lincoln Cent - Denver	144.4 M	1,194.40 M
Lincoln Cent - Phil.	121.6 M	1,098.00 M
Jefferson Nickel - Denver	0	46.80 M
Jefferson Nickel - Phil.	0	39.84 M
Roosevelt Dime - Denver	0	49.50 M
Roosevelt Dime - Phil.	0	96.50 M
Quarters - Denver	20.40 M	257.80 M
Quarters - Phil.	32.20 M	264.32 M
Kennedy Half - Denver	0	1.90 M
Kennedy Half - Phil.	0.20 M	1.90 M
Native Am Dollar - Denver	0	33.88 M
Native Am Dollar - Phil.	0	37.38 M
Pres Dollar - Denver	24.22 M	177.10 M
Pres Dollar - Phil.	10.78 M	172.62 M

Total	353.80 M	3,471.94 M

A few observations from the numbers. The 2009 Kennedy Half mintage now exceeds from the totals from last year with 1.9 million produced at the Denver and Philadelphia Mints. The 2008 Kennedy Half Dollar had 1.7 million produced at each facility, which stand as the lowest mintage for a circulation strike coin for the entire series.

No additional nickels or dimes were produced this month. Both denominations have been elusive for collectors this year and continue to bring huge premiums above face value for anyone lucky enough to find them. Early in the year the US Mint had announced that production of nickels and dimes was officially done for the year, although the Denver Mint did produce a small number of nickels in June and July.

The following additional table shows the US Mint coin production by design. Several denominations feature rotating obverse or reverse designs. When the US Mint posts production figures for individual designs, these have been the final mintages. There are no new numbers available in the table this month.

2009 US Mint Coin Production by Design
	Denver	Phil.	Total
Birthplace Cent	350.00 M	284.80 M	634.80 M
Formative Years Cent	363.60 M	376.00 M	739.60 M

Harrison Pres Dollar	55.16 M	43.26 M	98.42 M
Tyler Pres Dollar	43.54 M	43.54 M	87.08 M
Polk Pres Dollar	41.72 M	46.62 M	88.34 M

DC Quarter	88.80 M	83.60 M	172.40 M
Puerto Rico Quarter	86.00 M	53.20 M	139.20 M
Guam Quarter	42.60 M	45.00 M	87.60 M
Am Samoa Quarter	39.60 M	42.60 M	82.20 M
US Virgin Islands Quarter	41.00 M	41.00 M	82.00 M

Upcoming Commemorative Coin Programs

2009-11-09T13:01:00.000-08:00

Late last week, a bill authorizing a commemorative coin program for the Medal of Honor was signed into law by the President. This follows recent authorization for Girl Scouts Commemorative coins signed on October 29. With the schedule for commemorative coins filling up for the coming years, I wanted to devote a post to outlining future programs that have been authorized.

Proposals for commemorative coin programs begin when a bill is introduced in the House of Representatives or the Senate. The bill must be voted on and passed in the House and Senate, and then signed into law by the President in order to become law.

Under current law, no more than two commemorative coin programs may be authorized for each year. There are currently seven commemorative coin programs authorized for future years. The spaces for 2010 and 2011 are filled, and one program has been authorized so far for each year from 2012 to 2014.

2010 American Veterans Disabled for Life Commemorative Coins

This program will authorize the production of up to 350,000 silver dollar coins "emblematic of our disabled veterans who, having survived the ordeal of war, made enormous personal sacrifices defending the principals of our democracy." The authorizing legislation for the program was signed into law on July 17, 2008.

The design for the silver dollar was unveiled by the United States Mint in August. The obverse displays legs and boots of three disabled veterans with the inscription "They Stood Up for Us." The reverse features a wreath of oak branches with the inscription "Take this moment to honor our disabled defenders of freedom."

2010 Boy Scouts Centennial Commemorative Coins

This program will authorize the production of up to 350,000 silver dollars to mark the centennial of the Boy Scouts of America. The authorizing legislation for the program was signed into law on October 8, 2008.
The final designs for the silver dollar have not yet been announced by the United States Mint, although candidates have been reviewed by the CFA and CCAC. The CFA favored two obverse designs, one depicts three scouts saluting and the other depicts a scout and adviser on a rock ledge. The CCAC favored an obverse design featuring a scout in original 1910 uniform extending a hand to a scout in the modern uniform. The reverse design candidates feature different arrangements of the Boy Scouts logo.

2011 Army Commemorative Coins

This program will authorize $5 gold, $1 silver, and 50 cent clad coins "in recognition and celebration of the establishment of the United States Army in 1775, to honor the American soldier of both today and yesterday, in wartime and in peace, and to commemorate the traditions, history, and heritage of the United States Army and its role in American society, from the Colonial period to today." The bill authorizing the program was signed into law on December 1, 2008.

The $5 gold coins will have a maximum mintage of 100,000 coins, the $1 silver coins will have a maximum of 500,000 coins, and the 50 cent coins will have a maximum of 750,000 coins. Designs will be emblematic of the concepts described above.

2011 Medal of Honor Commemorative Coins

The program will authorize the issuance of $5 gold and $1 silver coins for the Medal of Honor, America's highest award for valor in action against an enemy force. The coins will recognize and celebrate the establishment of the award in 1861, honor its recipients, and promote awareness of what the Medal of Honor represents.

Up to 100,000 $5 gold coins and up to 500,000 $1 silver coins may be produced under the program. According to the legislation, the design for the coins shall contain motifs that represent the three Medal of Honor designs for the Army, Navy, and Air Force, and honor the recipients of today and yesterday.

2012 Infantry Commemorative Coins

This program will issue up to 350,000 $1 silver coins to commemorate the legacy of the United States Army Infantry and the establishment of the National Infantry Museum and Soldier Center. The bill was signed into law on October 8, 2008.

The design of the coin "shall be emblematic of the courage, pride, sacrifice, sense of duty, and history of the United States Infantry."

2013 Girl Scouts Commemorative Coins

The bill authorizing a commemorative coin program for the Girl Scouts of the United States of America was recently signed into law on October 29, 2009. Up to 350,000 $1 silver coins may be issued in 2013 to celebrate the centennial of the organization.

The design of the coin will be emblematic of the centennial of the Girl Scouts of the United States of America.

2014 Civil Rights Commemorative Coins

The program will authorize the issuance of $1 silver coins to celebrate the semicentennial of the enactment of the Civil Rights Act of 1964. The bill was signed into law on December 2, 2008.

Up to 350,000 of the silver dollar commemorative coins would be issued with a design emblematic of the enactment of the Civil Rights Act of 1964 and its contribution to civil rights in America.

US Mint Online Catalog Last Opportunity Section

2009-11-06T09:48:00.000-08:00

Today, the United States Mint added a new section to their online catalog. Listed as "Last Opportunity," the section displays products which will only be available for sale for a limited time before they are discontinued.

In 2008 the US Mint held a Last Chance Sale, and recently in May 2009 they held a Last Opportunity sale. These sales similarly featured products which would only remain available for a short time. This time the format of the section is different in that groups of products have different cut off dates.

Martin Van Buren's Liberty First Spouse Gold Coins will be available until December 3, 2009. Louis Braille Commemorative coin products will be available until December 11, 2009. The remaining 2007 Presidential Dollar bags and rolls and 2008 First Spouse Bronze Medals will be available until December 31, 2009. These products will be discontinued and removed from sale on the stated dates or earlier if the remaining inventory sells out. You can view the page on the US Mint's website here.

It will be interesting to see whether this becomes a permanent new section for the US Mint's website. In the previous instances, it was only used for a space of time before the discontinuation of products included in the sale.

This year, the US Mint has routinely ended sales of certain products to coincide with the release dates of newer ones. For example, the sales of Martin Van Buren's Liberty coins will end on the same date sales of the Margaret Taylor coin will begin. Similar scheduling has been used for this year's bags and rolls offerings. If the section is made permanent, it would be a useful addition to the online catalog by adding transparency about when certain products are scheduled to end.

Separately, the US Mint recently provided information on their ordering deadlines for Christmas and year end processing. The US Mint will guarantee delivery by December 25, 2009 for any in stock items for customer orders placed by December 7, 2009 for standard delivery and December 11, 2009 for express delivery.

Information about the Louis Braille Silver Dollars was also included in the message. Sales of all products containing the coin will end on December 11, 2009 at 5:00 PM ET. Under the authorizing legislation for the program, coins must be issued by December 31, 2009. The earlier cut off date presumably allows time for ordering processing and delivery to meet the requirements. As of the last weekly sales report, the Louis Braille Silver Dollar Commemorative Coin has sold a combined 202,655 coins across all product options. The maximum authorized mintage for the program is 400,000 coins.

Today on Coin Update News:
Final 2009 Lincoln Penny Launch Ceremony in Washington DC

U.S. Virgin Islands Quarter First Day Cover

2009-11-05T07:18:00.000-08:00

On November 10, 2009 at 12:00 Noon ET, the United States Mint will release the 2009 US Virgin Islands First Day Coin Cover. This will represent the fifth release of the DC & US Territories Coin Cover series.
Each cover includes one U.S. Virgin Islands Quarter from the Philadelphia and Denver Mints. These quarters will be from the first day of production at each respective mint. The coins are mounted on a custom display card with a 44 cent United States Flag postage stamp. The postmark will be September 28, 2009, Charlotte Amalie, St. Thomas, IV. This represents the first day the quarters were released to the public.

The covers are priced at $14.95 with a maximum production of 20,000 units.

Previously released 2009 Coin Covers for the DC & US Territories Quarters remain available for sale at the US Mint. As of the last weekly reporting period, the US Mint has sold 16,493 District of Columbia covers, 13,084 Puerto Rico covers, 9,476 Guam covers, and 7,513 American Samoa covers.

Letitia Tyler First Spouse Bronze Medal

On a separate note, the US Mint recently sold out of the Letitia Tyler First Spouse Bronze Medal. This medal went on sale July 2, 2009, priced at $3.50. Although the individual option is no longer available, the medals will be available again starting December 3, 2009 as part of the 2009 First Spouse Five Medal Set.

Today on Coin Update News:
US Marshals Commemorative Coin Proposal Includes High Relief Gold Coin
US Mint Gold and Silver Bullion Sales Report

2009 Proof Gold Buffalo Sales at 19,468

2009-11-03T08:59:00.000-08:00

The first sales figures are available for the 2009 Proof Gold Buffalo. This coin went on sale at the United States Mint on October 29, 2009 priced at $1,360 with no household ordering limit or stated maximum mintage.

As of November 1, 2009, the US Mint recorded sales of 19,468 of the one ounce 2009 Proof Gold Buffalo coins. This positions the coin only 123 away from the total sales amount for the one ounce 2008 Proof Gold Buffalo. The table below shows the mintages (or last reported sales figures) for Proof Gold Buffalo coins from 2006 to date.

Proof Gold Buffalo Mintages

	1 oz	1/2 oz	1/4 oz	1/10 oz
2006	246,267
2007	58,998
2008	19,591	12,569	13,903	19,294
2009	19,468

The relatively strong opening sales came amidst a "wait and see" attitude from some collectors. If the price of gold had remained below the $1,050 level for most of the week, this would have prompted a price reduction. The coins are currently priced at $1,360 based on an average weekly gold price within the $1,050 to $1,099.99 range. Prices for the US Mint's gold numismatic products can be adjusted once a week if the average price of gold moves into different price tiers set at $50 increments.

Gold's recent performance suggests that a price reduction will not happen this week. By my calculation, unless tomorrow's London AM Fix is below $1,058, the price of the 2009 Proof Gold Buffalo will remain unchanged. The current price of gold is $1,079 per ounce.

Go to Coin Update News for a complete US Mint Sales Report for November 1, 2009.

2009 Lincoln Presidency Cent Launch, Abraham Lincoln Bronze Medal

2009-10-30T08:00:00.000-07:00

Some preliminary details for the launch ceremony for the fourth and final 2009 Lincoln Cent design are available via a recent Coin World article.

The ceremony will take place on November 12, 2009 at 10:00 AM ET. It will be held at the Ulysses S. Grant Memorial located at the base of the U.S. Capitol in Washington, D.C. Further details of ceremony events and attendees have not yet been announced.

The fourth 2009 Lincoln Cent reverse design represents Lincoln's Presidency. A half completed view of the U.S. Capitol building is depicted, as designed by Susan Gamble and sculpted by Joseph Menna.

This year's Lincoln Cent launch ceremonies have been popular destinations for collectors and Lincoln enthusiasts. Based on the unofficial estimates from previous coverage, 1,500 people attended the first ceremony in Hodgenville, Kentucky and 3,000 people attended the second and third ceremonies held in Lincoln City, Indiana and Springfield, Illinois.

Previous ceremonies have been followed by coin exchanges where attendees are allowed to exchange currency for rolls of the new coins at face value. At the prior two ceremonies 20,000 rolls were exchanged. A minimum of two rolls and a maximum of six rolls were allowed for each pass at the exchange line. Details of the Washington D.C. coin exchange have not yet been announced.

On November 12, 2009 at 12:00 PM ET, the US Mint will also begin sales of the 2009 Lincoln Cent Two Roll Set for the Presidency design. Each set contains one 50-coin roll of Philadelphia coins and one 50-coin roll of Denver coins in custom US Mint wrappers. The sets are priced at $8.95 with an ordering limit of 5 sets per household.

Abraham Lincoln Bronze Medal

While browsing the Medals section of the US Mint's online catalog, I came across a current product that I thought might be of interest to readers.

The US Mint currently offers an Abraham Lincoln Bronze Medal as part of its Presidential Medals series. For each Presidential term, a medal is created featuring a portrait of the President on the obverse and inaugural dates, terms of office, presidential symbols and seals, or quotes on the reverse. Presidential medals are currently offered for recent Presidents as well as George Washington and Abraham Lincoln.
I am not sure how long the Lincoln Medal has been available, but I think the US Mint is missing an opportunity to highlight the product for Lincoln's bicentennial year. The obverse of the medal features Lincoln's portrait in profile. The reverse was designed by George T. Morgan and features an oak and laurel wreath with a spray of pine and cedar, circled by a serpent with its tail in its mouth. The reverse inscriptions read "Inaugurated President of the United States March 4, 1861. Second Term March 4, 1865. Assassinated April 14, 1865."

The 3 inch version of the medal is priced at $38.00. A smaller 1-1/2 inch version is priced at an affordable $3.50. The next time I place an order, I am planning to add one to my cart. You can find the Lincoln Medals at the bottom of this page.

New CoinsTV Episode:
Indian Head Gold Eagles Video

Today on Coin Update:
Coin News Round up for October 29, 2009

2009 American Buffalo Gold Proof Coin

2009-10-29T05:14:00.000-07:00

Today October 29, 2009 at 12:00 Noon ET, the 2009 American Gold Buffalo Proof Coins will go on sale at the United States Mint.
Only one ounce proof coins will be offered, which is a sharp reduction from the number of collectible Gold Buffalo options offered last year. Even this single offering had been in doubt until the US Mint's announcement earlier this month.

Each coin is minted in .9999 fine, 24-karat gold, packaged in a hardwood box with a matte finish and faux leather insert. The coins are priced at $1,360 each. There is no ordering limit or maximum mintage set for the product. These details (except for the price) were revealed last week.

There are a few dueling factors that will play into the initial sales levels for the coins. The pent up demand for this popular coin suggest strong opening sales. This is supported by the continuing brisk pace of sales for the bullion version of the coin that just went on sale October 15, 2009. In the past two weeks, the US Mint has already sold 110,500 coins. Additionally, since there are no ordering limits in place for the 2009 Proof Gold Buffalo, collectors and dealers will have the opportunity to order in quantity.

On the other hand, there are a few factors which may serve to diminish early demand for the coins. The current price of the coins may serve as a deterrent. The US Mint sets prices for numismatic gold products based on the average of the preceding week's London Fix gold prices. For the relevant period, the average is $1,050.28. Even though the current price of gold is $1,035 per ounce, the coins are priced based on the US Mint's $1,050 to $1,099.99 pricing tier. If the average price of gold had been 29 cents lower, the coins would have been priced $50 cheaper. Some collectors may delay purchases to see if the average price of gold allows cheaper purchases in the coming weeks.

A second factor which may diminish the pace of early and overall sales for the coin is the lack of a maximum mintage. As discussed previously, the fact that the US Mint is not placing household limits or a maximum mintage, suggest that they are prepared to supply the coins in whatever quantity the market will bear. The resulting high mintage from this scenario diminishes the longer term prospects for the coins, especially compared to the stand out performance of last year's collectible Gold Buffalo offerings.

The US Mint's product page can be found here. Ordering options won't be available until 12:00 Noon ET today.

Today on Coin Update News:
US Mint Sales Report for 10/25/2009

US Mint News Updates

2009-10-23T10:14:00.000-07:00

There are a number of US Mint related news items that I wanted to cover before the weekend. I will do a combined post on the topics which include sold out products, an update to the Braille Education Set offering, Girl Scout coins, and a technical amended for the 2009 Lincoln Cent.

Sold Out Coins

Two products have sold out at the US Mint. The first is the Lincoln Coin and Chronicles Set. Although the set had received orders for the maximum 50,000 sets by the second day of sales, ordering options remained open for anyone wanted to be placed on a waiting list. Orders would be fulfilled from the waiting list only in the event of cancellations. The sets officially moved to "sold out" status yesterday. Many readers have also been indicating that they have received their sets.

Earlier in the week, the Martin Van Buren Direct Ship Dollars were sold out. These dollars were available for for purchase in boxes of $250 at face value with no charge for shipping. Martin Van Buren Dollars were added to the Direct Ship Program in September. Coins are offered through this program to encourage circulation of dollar coins. Other Presidents and the Native American Dollars remain available.

Braille Education Set

The US Mint lifted the ordering limit in place for the Braille Education Set. The sets went on sale October 8, 2009 with an initial ordering limit of one set per household. In the first week the set sold 2,719 units. The second week marked faster pace of sales to bring the total to 5,996 units. The set is limited to a maximum production of 25,000.

Girl Scouts Silver Dollars

H.R. 621: The Girl Scouts USA Centennial Commemorative Coin Act has passed both the House of Representatives and the Senate. In order to become law, the bill needs to be signed by the President, which is expected to take place soon.

The bill calls for up to 350,000 silver dollar commemorative coins to be produced and issued during the calendar year beginning January 1, 2013. The design would be emblematic of the centennial of the Girl Scouts of the United States of America. A Boy Scouts commemorative silver dollar was previously approved for release in 2010.

2009 Lincoln Cents

Besides authorizing a new commemorative coin program for 2013, the H.R. 621 also contained an interesting technical amendment related to the 2009 Lincoln Cents:

(a) Continued Issuance of Certain Commemorative Coins Minted in 2009- Notwithstanding sections 303 and 304 of the Presidential $1 Coin Act of 2005 (31 U.S.C. 5112 note), the Secretary of the Treasury may continue to issue numismatic items that contain 1-cent coins minted in 2009 after December 31, 2009, until not later than June 30, 2010.

The issuance of 2009 Lincoln Cents with a composition matching the original 1909 Lincoln Cent was authorized under Public Law 109-145. The law specifically states the coins shall be issued "in 2009."

This authorization has been used to produce 95% copper versions of the 2009 Lincoln Cents for inclusion in 2009 Proof Sets and 2009 Mint Sets. Most years, the US Mint's annual sets are available into the following year. Without this amendment, it seems that the US Mint would have had to cut off sales at year-end, since the Lincoln Cents contained in the sets were only authorized to be issued in 2009. Someone must have realized this and made sure the technical amendment above made it into the bill.

2009 Gold Buffalo Proof Coins

2009-10-22T07:24:00.001-07:00

The US Mint has released information on the upcoming 2009 Proof Gold Buffalo coins. The coins will be available starting on October 29, 2009 at 12:00 Noon ET.

As known previously, only a single one ounce proof version of the coin will be offered. Last year, the US Mint had offered fractional versions of the coin (1/2 oz, 1/4 oz, 1/10 oz) and a full line of collectible uncirculated coins (1 oz, 1/2 oz, 1/4 oz, 1/10 oz). These products had been announced as discontinued in late 2008.

The one ounce 2009 Proof Gold Buffalo coins are struck in 24 karat gold. The obverse and reverse designs are based on the original 1913 Type I Buffalo Nickel by James Earle Fraser. The coins are minted at the West Point Mint and carry the "W" mint mark.

The price of the coin will be based on the tables available for the United States Mint's numismatic gold products. If the average weekly price of gold remains within the current range of $1,050 to $1,099.99, then the coins will be priced at $1,360.00 each.

The biggest revelation about the offering is that there will be no household ordering limits and no maximum mintage.

Yesterday when examining the bullion coin offering, I had stated that this would be key to the longer term prospects of the 2009 Proof Gold Buffalo. With unrestricted ordering and mintage, presumably for the next two months, the final mintage should easily exceed the low levels of 2008.

Undoubtedly this will be a popular offering, and the coin will be cherished by many collectors, but I don't think there will be a repeat of the incredible price appreciation experienced for last year's coins. The one ounce 2008 Proof Gold Buffalo currently sell for $2,600 or more on the secondary market.

2009 Gold Buffalo Bullion Coins

2009-10-21T10:35:00.000-07:00

Although the proof version of the coin won't be released until October 29, the bullion version of the 2009 Gold Buffalo coin has been available since October 15.

Because this is a bullion coin, it is not offered for sale directly by the United States Mint. Rather the coins are distributed through the US Mint's network of authorized purchasers. The AP's purchase the coins directly and then resell to other dealers and the public.

The most recent information available from the US Mint indicates that 79,500 of the 2009 Gold Buffalo bullion coins have already been sold. Monthly sales have not been at this level since the heavy demand experienced when the coins debuted in 2006. For all of 2008 (amidst a few suspensions), the US Mint had sold 172,000 coins.

The numbers show that there is a very high level of pent up demand for Gold Buffalo coins. Until recently, the coins had been unavailable for nearly a year. The fact that they are finally being offered near the end of the year also seems to have created the impression that they will only be available in limited numbers. If another strong week of sales follows, the mintage of the 2009 Gold Buffalo might end up exceeding some of the prior year mintages.

The strong sales also suggest that the US Mint might not be having the same sourcing problems for 24 karat gold blanks, or they have at least acquired a significant supply. I have not heard any indication that the 2009 Gold Buffalo bullion coins are subject to rationing, so apparently the US Mint is comfortable that they can meet unrestricted demand from the public.

I think that the incredibly strong bullion sales figures have some implications for the 2009 Proof Gold Buffalo.

When the 2009 Proof Gold Buffalo is released (tentatively) on October 29, 2009, there will definitely be a rush to order. As with the bullion coins, the pent up demand and impression of limited availability will have people ordering early and, if possible, heavily.

The key question is: How many proof coins will the US Mint produce? Unless a stated maximum mintage is provided, I think the number could be significant. Rather than risk another public relations black eye, the US Mint might produce the coins in high quantities to ensure that any collector who to purchase the coin has ample opportunity to do so. This is contingent on the supply of blanks, which as mentioned, might not be an issue for 24 karat gold coins.

If the total number of 2009 Proof Gold Buffalo coins greatly exceeds the mintage for the prior year, secondary market potential would be curtailed. While the coin is undeniably beautiful and will be heavily collected, for now I would be wary of anticipating big gains. I mentioned this possibility in this prior post, and the new information on bullion sales lends it some further support.

Once more information is available from the US Mint on the 2009 Proof Gold Buffalo coins, I will have it posted here, along with any reevaluation of the situation.

Ultra High Relief Above 100K, Braille Education Set Sales Higher

2009-10-20T11:08:00.000-07:00

US Mint sales of the 2009 Ultra High Relief Double Eagle Gold Coin have exceeded the closely watched 100,000 mark. The latest weekly sales figures from the United States Mint indicate that 100,704 coins have sold as of October 18, 2009. This represents an increase of 1,936 above the prior week.

Many collectors have eyed the 100,000 mark as a possible stopping point for sales of the UHR Double Eagle. Although there is not a maximum mintage or production limit for the coin, this year the US Mint has unofficially limited production and sales of many products to round numbers.

The only reference to mintage for the 2009 Ultra High Relief Double Eagle that I have seen from the Mint is the following statement released back in May 2008: "The mintage of the new coin will be unlimited for one year. Only 2009-dated coins will be minted. The coins will go on sale in early 2009, although sales may continue into 2010 if inventory exists."

Another key figure from this week's sales report is the Louis Braille Education Set. Based on comments from previous posts, many collectors were planning to purchase this set together with the Lincoln Coin and Chronicles Set to consolidate shipping charges. The Braille Set was released one week before the Lincoln Set.

The Braille Education Set sales showed an increase of 3,277 for a total of 5,996 sets sold. Notably, the number of sets sold in the second week of sales actually exceeds the number of sets sold in the opening week. This is highly uncommon for US Mint products, which tend to sell the greatest number of units in the first week.

For a full report of US Mint sales figures for the week ended October 18, 2009, check out Coin Update News.

2009 Lincoln Coin and Chronicles Set Recap

2009-10-19T12:14:00.000-07:00

With this post, I wanted to provide a recap of the release and sales of the Lincoln Coin and Chronicles Set. The reader response to the posts from Thursday and Friday has been incredible over 700 combined comments. You can check out the original posts and comments here and here. If you have some time and haven't been following along already, you can read the comments to get a variety of collector impressions on this latest US Mint product release.

Sales Period

The Lincoln Coin and Chronicles Set went on sale October 15, 2009 at 12:00 Noon ET. For the first several hours of sales, the US Mint's website slowed to a crawl, which made placing orders difficult. Some readers were able to get through by phone, but most received an automated message stating that the US Mint was unable to answer. By 5:00 PM ET, the US Mint had sold 29,919 sets.

Sales continued into the following day when orders could be placed more easily. On October 16, 2009 at 6:00 PM ET, the US Mint put up a waiting list notice, which indicated that the maximum number of sets had been sold. Orders would continue to be accepted for placement on a waiting list. In the event of cancellations, orders would be fulfilled from the waiting list on a first come, first serve basis.

At the time of this post, the US Mint is still accepting orders for the waiting list.

Why Did the Sell Out Take So Long?

While a sell out within 30 hours is impressive, many people (myself included) expected a sell out on the opening day of sales. I think one of the primary reasons for the slower than expected sell out is an overall reduction in speculative demand for US Mint products. Undoubtedly, there were people buying the Coin and Chronicles Set in order to resell it at a profit, but the scale of this practice probably wasn't anywhere near the massive levels that took place a few years ago when one day sell outs were more frequent.

The last US Mint product to sell out in a day was the 2007 Thomas Jefferson's Liberty First Spouse Gold Coin. The coins had a maximum authorized mintage of 40,000 and an ordering limit of one per option per household. Each customer could order a maximum of one proof and one uncirculated coin.

Around this time, some dealers were paying sizable "bonuses" for individuals who ordered and shipped the coins to them upon receipt. Check out this article from Susan Headley which describes the practice and some of the premiums paid for First Spouse Gold Coins. By the time the Thomas Jefferson coin was released, there was likely more speculative demand than actual demand for coins. When the secondary market proved much less robust than dealers expected, prices quickly deteriorated. After this ordeal, some dealers may have stepped back from the practice.

The "buy-to-flip" activity may have also died down on the individual level. Even without bonuses from dealers, individuals can still buy products and immediately resell them on eBay. Earlier this year products like the Lincoln Birthplace Two Roll Set (LP1) and William Henry Harrison Rolls (WH2 and WH4) made a big impression after they unexpectedly sold out and began selling for huge premiums on the secondary market.

Speculative activity perked up for the subsequent bags and rolls offerings, but similar gains failed to materialize. The US Mint also threw a curve ball with the second Lincoln Two Roll Set offering (LP2) by nearly tripling production from the prior level. After a year of hit and miss, some speculative buyers may have chosen to sit this one out.

Whatever your opinion on the practice, speculative buying or buying for immediate resale does have a significant impact of the level of US Mint product sales, the pace of sell outs, and secondary market prices. The US Mint uses household order limits to curtail the practice and also (unintentionally) discourages the practice by being unpredictable. No matter what policies are in place, speculative demand will always exist and continue to impact collectors of US Mint products.

Beside the impact of reduced speculative buying, two more factors may have slowed the sell out. First, the US Mint may have lost some customers after the disappointment created by the cancellation of the 2009 Proof Silver Eagle and other products. After the news broke, many customers stated in comments here and elsewhere, that they would not be purchasing anything else from the US Mint. Second, the economy may have played a factor as people are being more careful about what they purchase.

Third Party Grading

Comments in some of the previous posts expressed concern about third party grading services like NGC or PCGS creating some type of special label for the coins in the Lincoln Coin and Chronicles Set. As a few readers pointed out, this seems somewhat ridiculous since one of the most appealing aspects of the set is the packaging. To take the coins away from the packaging, and instead put them in a holder with the words "Coin and Chronicles Set" seems kind of silly.

I contacted NGC and PCGS to try to confirm their intentions for the set. NGC quickly responded that coins in the set will not receive any special recognition. If submitted, they will be graded as regular proof coins. PCGS has not responded to my inquiry.

Secondary Market Prices

Secondary market prices for the Lincoln Coin and Chronicles Set are now around the $150 level, after dipping to around $125 late Thursday and early Friday. (View current auctions.) The number of pre-sales listed has increased with more than 140 sets currently listed. Once the coins start to be received by collectors, usually an influx of new listings appear. In the past, this influx has served to temporarily depress prices.

I don't have a crystal ball, but I think this set will continue to trade at a decent premium. Even though it does not contain any unique coins, the US Mint has created an appealing and historical set with a limited production. This year, collectors have been more willing to pay a premium for US Mint packaging. In the case of the Coin and Chronicles Set, at least the packaging is something unique and special, instead of a plain white box stamped with a product code.

The set also has some potential for broader appeal beyond coin collectors. While most collectors were aware of the set and had a window of opportunity to order directly from the US Mint, others from outside the coin collecting community were likely not aware of the offering. If demand starts to emerge from other channels, this would further bolster prices.

Lastly, if I am correct that this product had less speculative purchases than other sell outs, this will bode well for the long term prospects of the set. With more coins in the hands of collectors who intend to keep them, there will be less supply on the secondary market. A limited supply combined with steady demand would serve to keep prices high and prevent the boom and bust experienced by the early issues of the First Spouse Gold series.

Next Release

With the Lincoln Coin and Chronicles release over, the next product on the US Mint's release schedule is the 2009 Proof Gold Buffalo. This coin has a tentative release date of October 29, 2009. Ordering information and details of the release are still not available from the US Mint.

On October 15, 2009, the bullion version of the coins actually went on sale. Since these are bullion coins, they cannot be purchased directly from the US Mint. They are sold to the Mint's network of authorized bullion purchasers, who resell the coins to other dealers and the public.

I will have more details on the 2009 Proof Gold Buffalo offering as details become available. I will also track the status of the bullion coins sales and report anything of note.

2009 Lincoln Cent Mintages

2009-10-19T07:29:00.000-07:00

The mintages for the first three designs of the 2009 Lincoln Cent have now been confirmed. The mintage figures for the "Professional Life" design had not yet been previously known.

The table below presents the mintages for circulating 2009 Lincoln Cents by design and mint. (These are circulating quality coins and do not include proof or satin finish coins.)

2009 Lincoln Cent Mintages
	Philadelphia	Denver	Total
Birthplace	284,400,000	350,400,000	634,800,000
Formative Years	376,000,000	363,600,000	739,600,000
Professional Life	316,000,000	336,000,000	652,000,000

The US Mint's output for the 2009 Lincoln Cents has been more variable than other denominations. The combined mintages for the 2009 Quarters and 2009 Presidential Dollars had declined with each subsequent design (with the exception of the Polk Dollar). The 2009 Lincoln Cents had the lowest combined mintage first, followed by an increase, and the latest decrease.

The lowest mintage for an individual coin remains as the 2009-P Birthplace Cent at 284,400,000.

The prices for circulation strike 2009 Lincoln Cents have tapered off since the heights reached earlier this year. Coins are even starting to show up in circulation, as reported by some readers and on other sites. Personally, I am still yet to receive one of the new designs in circulation.

The next 2009 Lincoln Cent featuring the Presidency design is scheduled to be released on November 12, 2009. A launch ceremony is expected to take place in Washington, DC, followed by a coin exchange. Details have not yet been revealed by the US Mint, but I think it would be fitting to have the ceremony take place at the Lincoln Memorial. Once confirmed details on the launch ceremony are available, they will be posted on Mint News Blog.

Note: I will have another post on the Lincoln Coin and Chronicles Set later today.

Lincoln Coin and Chronicles Set Still on Sale

2009-10-16T06:48:00.000-07:00

Surprisingly, the US Mint's Lincoln Coin and Chronicles Set is still on sale as of 10:00 AM ET this morning. The sets went on sale yesterday at 12:00 Noon ET, with a first day sell out expected by many.

Thanks to readers, we have a rough idea of the total number of sets ordered. (Check out the 364 comments and counting on yesterday's post!)

The earliest order numbers from yesterday are 33159xxx. I placed an order for some 2009 Mint Sets this morning and had an order number of 33219xxx. This means that roughly 60,000 orders have been placed in the past 22 hours. Assuming that 80% or more of the orders contained one Lincoln Coin and Chronicles Set, sales must be very close or have already exceeded the 50,000 production limit.

It's possible that the 50,000 mark has already been passed. For similar situations, the US Mint has accepted orders in excess of the production limit to allow a buffer for order cancellations due to bad credit card information or cancellations for orders placed in excess of the household limit. I would be very surprised if the status of the product status is not changed to Sold Out by the end of today.

Another observation from the comments, many people ordered the Louis Braille Education Set together with the Lincoln Set to combine shipping costs. The low initial sales of the Braille Set may see a big jump next week if this practice was widespread.

Separately, a more obscure product sold out yesterday. This was the Collecting America's Coins: Beginner Basics Set. I believe this product had actually gone on sale back in 2005. It was featured in this year's US Mint Holiday catalog, which likely brought some renewed interest.

The set contains a 2005 Proof Kennedy Half, satin finish 2005 P&D Roosevelt Dimes, circulation strike 2005 P&D Lincoln Cents, and a one cent blank planchet. In addition to the coins, the set also contains some excellent information about the history of US coins, the process of making coins, numismatic tips, and a small glossary. I had purchased one of these sets a while back for my son. (He is still only 18 months old, but one day I think he will enjoy it.)

Update: Dave Harper is reporting that the US Mint had sales of 29,919 sets as of 5 PM ET Thursday. At that time, order numbers were around 33200xxx. A recent order number is 33226xxx, meaning about 26,000 more orders have occurred since.

Update 2: The US Mint has also posted the following message:

Unfortunately, the United States Mint Web site did not perform as expected when the popular 2009 Lincoln Coin and Chronicles Set went on sale at noon Eastern Time on October 15. We sincerely apologize for the inconvenience and frustration many of you may have experienced while attempting to purchase this and other products using our online catalog.
We did not meet the standards of excellence we have set for serving our customers. You deserve a better online shopping experience, and we are committed to resolving these issues quickly and permanently.
Thank you for your patience and continued support.

Update 3: At 6:00 PM ET, the set went onto waiting list status. The following message was posted on the product page:

Waiting List Notice: The number of orders we have taken meets the maximum limit for the United States Mint Lincoln Coin and Chronicles Set. You may still place an order for this product, which will go on a waiting list. If a product becomes available due to an order cancellation, we will fulfill orders from the waiting list on a first-in, first-served basis. We cannot provide information about your position on the waiting list.

Lincoln Coin and Chronicles Set on Sale Today

2009-10-15T05:33:00.000-07:00

Today, the Lincoln Coin and Chronicles Set will go on sale at the US Mint starting at 12:00 Noon ET. Anticipation for the set has been high since it was first announced in April and ordering details were revealed in late September.

To briefly recap, the set will contain one 2009 Proof Lincoln Silver Dollar and four 2009 Proof Lincoln Cents. The commemorative silver dollars had sold out for the individual coin offerings back in March. Only 50,000 of the maximum authorized mintage remains, which have been allocated to the Coin and Chronicles Set. The 2009 Proof Lincoln Cents are struck in a composition of 95% copper, 3% zinc, and 2% tin to match the composition of the original 1909 Lincoln Cent. Also included with the set are a reproduction of a photograph of Abraham Lincoln, a reproduction of the Gettysburg Address in his handwriting, and a certificate of authenticity. The contents are displayed in a leather-like folder with an outer slipcover.

The sets are priced at $55.95 each with an ordering limit of only one set per household. Most are expecting the Lincoln Coin and Chronicles Set to sell out by the end of the day.

There are several reasons for the expected popularity. This will be the last opportunity to obtain the Lincoln Commemorative Silver Dollar directly from the US Mint. Individually, the coins already sell for more than the price of the set.

This will mark the lowest production Lincoln-related product released by the US Mint this year. Besides the Coin and Chronicles Set, the lowest production product is currently the Lincoln Birthplace Two Roll Sets with production of 96,000 units. These originally sold at $8.95 each and now sell for about $100 on the secondary market.

Lastly, the US Mint seems to have done a nice job with this set. The coins are attractively presented, and historical materials will be interesting to see. The set has the potential for broader appeal beyond coin collectors, which should add to its demand.

While I personally don't like the practice, a number of people have listed pre-sales for the Lincoln Coin and Chronicles Set on eBay (view current auctions). Most of the current auctions are priced somewhat excessively, but completed auctions reveal several pre-sales in the $175 to $200 range. Once people start to place confirmed orders, I am sure the pre-sale activity will pick up even more.

You can access the US Mint's product page directly with this link. You will be able to place your orders at 12:00 Noon ET.

(Note: With popular products such as this, some readers will often post their order numbers and time stamp in the comments. This is fine, and an interesting way to gauge the pace of orders- but please X-out the last three or four digits of your order number for security purposes.)

2009 Mint Set, Louis Braille Education Set Sales Figures

2009-10-14T06:38:00.000-07:00

Sales figures are available for some recently issued US Mint products, most notably the 2009 Mint Set and the Louis Braille Education Set.

The 2009 Mint Set went on sale October 1, 2009. Expectations for the set were high for a variety of reasons, including the 95% copper Lincoln Cents, the expanded scope of the set to 36 coins, and the 2009 nickels and dimes. As of October 11, 2009, the US Mint has sold 392,007 sets.

This positions the set as one of the most swiftly selling Mint Sets in recent years. By comparison, last year's 2008 Mint Set had taken approximately six weeks to reach this level of sales. The 2008 Mint Set eventually sold a total of 745,464 sets.

Even though the popularity of the 2009 Mint Set will cause it to have a higher mintage, I think the longer term prospects remain positive. The inclusion of the unique satin finish 95% copper 2009 Lincoln Cents should keep the sets in steady demand and support prices.

The sales of the Braille Education Set were surprising. Since going on sale October 8, 2009, the US Mint has sold 2,719 units. Before the sets went on sale, I expressed the opinion that they would not be hot sellers (like the upcoming Lincoln Coin and Chronicles Set is expected to be), but I didn't expect sales to come in this low. Ironically, these low initial sales figures might draw some new attention to the set. Recently, some collectors have been paying big premiums for low production US Mint products after they are no longer available for sale directly.

Across all options, the US Mint has now sold 192,784 of the Louis Braille Silver Dollars, with a split of 123,899 proof coins and 68,885 uncirculated coins. The maximum authorized mintage across all coins is 400,000. Commemorative coins and related products usually remain on sale until mid-December unless the maximum mintage is met sooner.

For a complete report of US Mint sales figures through October 11, 2009, including the latest numbers on the Ultra High Relief, First Spouse Gold Coins, and others, visit Coin Update News.