What's Happening

From the desk of your Secretary

JUNE 15 - As it stands, the last reported sales figures for the 2009 annual sets are above the levels of last year's sets with the exception of the Silver Proof Set. The tables below show the sales start date, sales end date, and total sales for each set for 2009 and 2008.

Product Sales Start Sales End Sales To Date
2009 Proof Set              June 1, 2009    June 15, 2010  1,475,264
2009 Silver Proof Set   July 17, 2009   June 15, 2010     690,822
2009 Mint Set              Oct 1, 2009       June 15, 2010     771,204

Product Sales Start Sales End Total Sales
2008 Proof Set              Jun 24, 2008     Dec 14, 2008  1,405,674
2008 Silver Proof Set   Aug 26, 2008     July 17, 2009    774,874
2008 Mint Set               July 30, 2008    Feb 25, 2009     745,464

The 2008 Proof Set had sold out unexpectedly before the close of the year and ended up with the lowest total sales for a standard proof set since 1959. The sets began selling at a premium immediately after the early sell out. The 2009 Proof Set looks like it will have marginally higher total sales, but this will still be a low number on a historical basis. As mentioned, the higher mintage may be offset by the greater residual demand created by the included 2009 Lincoln Cents and the countless number of sets broken up to obtain the cents.

The 2009 Silver Proof Set is on track to have the lowest total sales for a silver proof set since 1998. After peaking at 1,175,934 with the 2004 Silver Proof Set, total sales have decreased steadily each year since then.

The 2008 Mint Set has enjoyed a large rise in price since it sold out. The sets seem to sell for $45 to $50, which is almost double the original issue price at the higher end of the range. Last year, before the 2008 Mint Set sold out, I mentioned it frequently as a potential winner. This year, I also like the prospects of the 2009 Mint Set. It was available for a shorter period of time compared to the other sets and will have relatively low final sales. Once again, the inclusion of special composition Lincoln Cents should add a permanent incremental source of demand. Of all the products going off-sale on June 15, I like the 2009 Mint Set the best.

Last but not least, sales of the 2009 Lincoln Cent Two Roll Sets will end on Tuesday. When initially announced, many collectors didn't like the fact that sets containing $1.00 face value worth of circulating coins were priced at $8.95 each. After the first set sold out in a few weeks and began selling at a big premium on the secondary market, more collectors started ordering the sets.

The final two designs will fall between the first two designs in terms of total number of sets sold. The final sales or last reported sales are shown below.

Sales To Date
Birthplace                   96,000
Formative Years       300,000
Professional Life      291,534
Presidency                259,941

The final set for the "Presidency" design has better prospects than the "Professional Life" design because of the lower total sales and also the low mintages of the coins included. The 2009 P & D Presidency Lincoln Cents had a final mintages of 129,600,000 and 198,000,000, respectively. These represent the lowest mintages for circulation strike cents since 1955.
 

MAY 26 - Second Coin in America the Beautiful Quarters™ Program Available in Bags and Rolls. The United States Mint will begin accepting orders for products featuring the Yellowstone National Park quarter beginning at noon Eastern Time (ET) on June 1, 2010. Available options include a two-roll set priced at $32.95 and 100-coin bags priced at $35.95 each.

~ The United States Mint has published the preliminary production figures for the Hot Springs National Park Quarter, which suggest an extremely low final mintage for the first release of the America the Beautiful Quarters series.

The Philadelphia Mint produced 30,600,000 coins and the Denver Mint has produced 29,000,000 for a combined production of 59,600,000.

It seems that production of the Hot Springs Quarter concluded last month. Through April 2010, the US Mint had produced 77,400,000 quarters. Since this amount includes the total production of 59,600,000 Hot Springs Quarters, then the remaining 17,800,000 coins must be the start of production for the Yellowstone National Park Quarter, set to be released on June 1, 2010.

The mintage level of the Hot Springs Quarter comes in well below the least produced DC & US Territories Quarter. The Northern Mariana Islands Quarter had total circulating coin production of 72,800,000 coins. The mintage level is also ridiculously lower than the production levels for the 50 State Quarters Program, which ranged from a high of 1,594,616,000 for the 2000 Virginia Quarter to a low of 416,600,000 for the Oklahoma Quarter.

The Hot Springs Quarter now represents the lowest mintage for a quarter since 1955. Additionally, the 2010-D Hot Springs Quarter has the lowest mintage for an individual circulation issue since 1958.

The table below shows all of the current commemorative coin proposals and approved programs for each year. The coins included in the program and current status are also included. For 2011, only the approved programs have been listed since the schedule for that year has been filled

MAY 13 - The United States Mint announced the upcoming discontinuation of sales for certain 2009 products. A “Last Opportunity” section has been added to the US Mint’s online product catalog to showcase these products in their final days. On June 15, 2010, sales will end for the following products: 2009 Proof Set; 2009 Silver Proof Set; 2009 Mint Set; 2009 “Professional Life” Lincoln Cent Two Roll Set; 2009 “Presidency” Lincoln Cent Two Roll Set.

MAY 5 - The U.S. House of Representatives Wednesday approved a resolution that would allow for the creation of a Mother's Day coin.  U.S. Rep. Shelley Moore Capito, R-W.Va., said now, the Senate should act to pass the measure.

“As a daughter, a mother and most recently, a grandmother, I’m encouraged by my colleagues support in honoring this important day celebrated by families across our nation,” Capito said in a news release. “I now look forward to the Senate’s swift passage of the Mother’s Day Coin Act so the bill may be signed into law.”

The Mother's Day Centennial Commemorative Coin Act would authorize the Treasury Department to mint the coins to mark the 100th anniversary of Mother's Day in 2014, according to the news release.

Capito is the resolution's sponsor. It now has 291 co-sponsors. Mother's Day was founded by Anna Marie Jarvis in Grafton.

APRIL 28 - The 2009 nickels and dimes have attracted attention and high premiums because of the significantly lower mintages and the fact that they had remained elusive in the channels of circulation. The final production figures from last year were the following:

2009-P      Roosevelt Dime      96,500,000
2009-D     Roosevelt Dime      49,500,000
2009-P      Jefferson Nickel     39,840,000
2009-D     Jefferson Nickel     46,800,000
 

APRIL 12 - Coin dealer Lano Balulesco of Concord, MA has reported the theft of over Half a Million dollars in coins from his vehicle in Acton Mass. He reported the crime at 3:49 p.m. April 3.. A list of the coins is available here. Anyone with information about this crime or who is offered these coins please contact Detective Christopher Browne, Acton Police Department - Phone: (978)264-9640

APRIL 05 - The US Mint has provided specific release dates for a number of upcoming products. This includes the 2010 Lincoln Cent Two Roll Set, which will be released on April 8, 2010. This set had been expected at the end of March. Pricing and release details are still unknown. The comparable 2009 Lincoln Cent Two Roll Sets were priced at $8.95 each. The sets for the Professional Life and Presidency designs still remain on sale.

In the month of May, the US Mint will release the 2010 America the Beautiful Quarters Proof Set on May 13 and the Quarters Silver Proof Set on May 27. These sets will be priced at $14.95 for the regular clad set and $32.95 for the silver set.

On May 20, 2010, the Franklin Pierce Presidential Dollar Rolls will be available. This corresponds with the circulation release date for the 14th coin in the Presidential Dollar coin series.

~ Through March 29, 2010, the US Mint reported combined sales of 214,673. This total is made up of 144,732 proof coins and 69,941 uncirculated coins. The maximum authorized mintage for the commemorative coin program is set at 350,000 across all ordering options.

To put the opening numbers in perspective, the 2010 American Veterans Disabled for Life Silver Dollar, which went on sale February 28, 2010, recorded opening sales of 98,358. Total sales to date are now 179,052.

From last year's programs, the 2009 Abraham Lincoln Silver Dollar had debut sales figures of 177,722. The 450,000 coins allocated for individual sales had sold out after just over one month. The 2009 Louis Braille Silver Dollar recorded debut sales of 70,274 and eventually sold 167,526 coins across all options.