Mint News Blog

News, Information, and Commentary on US Mint Products

Friday, July 24, 2009

Recent Sold Out US Mint Products

Three products have recently sold out at the United States Mint. The products are the Louisa Adams First Spouse Gold Coins, the 2008 Silver Proof Set, and the Harrison Presidential Dollar Coin and First Spouse Medal Set. With this post, I wanted to take a brief look at each sold out product.

Louisa Adams First Spouse Gold Coins

Sales of the Louisa Adams First Spouse Coins ended on July 2, 2009 to coincide with the release of the next coin in the series. The duration of sales lasted somewhat longer than expected. The US Mint has stated that each coin will remain available for sale until the maximum authorized production has been sold or for approximately one year, whichever comes first. In this case, the coins remained on sale for over 13 months due to the delayed release of the Letitia Tyler coin.

The last reported sales statistics for the Louisa Adams coins indicate that 4,223 uncirculated coins were sold and 7,454 proof coins were sold. Of the First Spouse Gold Coins which are no longer available for sale, this marks the lowest mintage level to date.

Whether collectors will eventually come to appreciate the low mintages of the First Spouse coins has been a topic of continual debate. In the past, coins which were unpopular or poor sellers during their offering period, ironically became popular and more expensive coins after sales had ended. Collectors who had initially ignored or overlooked the coins became enticed by the low mintages. This doesn't seem to be happening to any large extent with the First Spouse Gold Coins. One potential reason is that most collectors expect the mintages to continue declining as the series progresses, or at least remain perpetually low.

Sales of Louisa Adams coins on eBay have tended to be sporadic. Most current listings either have high opening bids or high fixed prices. Most coins offered for sale also tend to be NGC or PCGS graded examples. Here are the current eBay auctions.

2008 Silver Proof Set

The 2008 Silver Proof Set went off sale on July 17, 2009 to coincide with the start of sales for the 2009 set. The 2008 set featured a total of 14 coins, including the final five issues of the State Quarter series.

The last reported sales figure for this set was 774,874. This seems to be the lowest mintage for a Silver Proof Set released during the State Quarter era (1999-2008). The next lowest figure occurred in 1999 when 804,565 sets were produced. It should be noted that in 1999, the US Mint did not issue a separate Silver State Quarters Proof Set as they did from 2004 onwards. The previously sold out 2008 State Quarters Silver Proof Set had sold 429,021 units.

The 2008 Silver Proof Sets now seem to be selling for around $50 each, which is a slight premium to the original offering price of $44.95.

Presidential Dollar Coin and First Spouse Medal Set - Harrison

This small set contains one uncirculated (satin finish) William Henry Harrison Dollar and one Anna Harrison Bronze Medal. The latest sales indicate that 15,038 sets were sold. The sell out seems to have occurred this Wednesday.

Many collectors have opted for these neatly packaged sets as an inexpensive alternative to the costly First Spouse Gold Coins. However, ordering and receiving the sets has often proven to be a difficult task. There have been multiple and continued reports of orders which remain in backorder status for months, only to be eventually canceled when the product's status is changed to "Sold Out." If you are looking to collect this series, the best bet seems to be ordering them soon after release.

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At July 24, 2009 at 1:31 PM , Anonymous Anonymous said...

Sold out? That is disingenuous. These were all REPLACED by newer products.

At July 24, 2009 at 1:37 PM , Anonymous Anonymous said...

"Sold Out" is simply the new message the Mint is now using to replace their old message "Product is Not Available." It's true that most products that notation is placed on were not truly "Sold Out" in terms of number sold versus maximum allowable mintage (if any), but the bottom line is that you may no longer purchase the items from the U.S. Mint.

I'm glad I ordered my Harrison Coin & Spouse Medal sets EARLY (April 17). As soon as I saw it had went on backorder status until August, I hurried up and placed my order much sooner than I had planned. So much for waiting until more sets were available before ordering, in an attempt to save on shipping charges! You're right, this is one product line you simply aren't ALLOWED to drag your feet on!

At July 24, 2009 at 2:45 PM , Anonymous Anonymous said...

Just a clarification request. I was wondering if the presidential dollar coin in the set is plain uncirculated or satin finish uncirculated.

At July 24, 2009 at 9:30 PM , Blogger Lasloo said...

As I understand it (and those who know better please correct me if I'm wrong), but the Mint uses the satin finish on all uncirculated coins used for numismatic purposes, i.e. collectable reasons. However, they don't do satin for things like the bags and rolls. So, yes, the Presidential coin and spouse medal sets will have the satin finish version of the Prez coin.

At July 25, 2009 at 11:45 AM , Anonymous Anonymous said...

I don't think it is satin finish contained in these set.

At July 25, 2009 at 12:45 PM , Blogger Lasloo said...

Does anybody have anything authoritative saying whether or not the Presidential coin included in the First Spouse Medal & $1 coin set are "satin finish" or not?
I see people selling certified versions of these saying they are, but I don't know for sure:

At July 25, 2009 at 1:43 PM , Anonymous Anonymous said...

What is up with the 2008 First Spouse Bronze Medal Series: Four-Medal Set (X29)? I have had my order delayed 4 times already. Is this a sleeper that is going to go up in value or a wash?

At July 25, 2009 at 1:57 PM , Anonymous Anonymous said...

Your order for 2008 sets has been "delayed" 4 times, it's almost August of 2009, and you think it's still coming?????

On the chance that you may not have kept up with some of the posts regarding cancellations, backorders that never materialize, or the various stories, articles, discussions, and reports on the subject.....I hate to inform you that it appears the Mint had a rather obvious fullfillment meltdown and implosion this year. Sad to say, but if you don't order on the first day of an offering, or so it seems, you stand less chance of getting filled. Some have excellent luck and no problems....many others have been shafted. Condiser yourself in Group II. Sorry.

At July 25, 2009 at 8:14 PM , Anonymous Anonymous said...

I looked at my 2009 prez sets. The coins appear to be the satin finish.

At July 25, 2009 at 8:32 PM , Anonymous Anonymous said...

I just also checked the 2009 under a microscope. Definitely satin finish but written up in the description as "uncirculated" without further clarification.

At July 26, 2009 at 8:58 AM , Anonymous Anonymous said...

Folks, Is the 2008 Silver Proof Set a sleeper?

At July 26, 2009 at 9:14 AM , Blogger Michael said...

"Folks, Is the 2008 Silver Proof Set a sleeper?"

Check out the comments on the 2009 Silver Proof Set post for some interesting discussion on this.

At July 26, 2009 at 10:25 AM , Anonymous Anonymous said...

I have purchased three 2008 Silver Eagles via the unc. dollar sets and while the general die strike is as expected I have noticed that in certain areas (such as the creases in the skirts) there is slight a bit of shiny show through from beneath the burnish. How does this affect the grading?

At July 26, 2009 at 5:39 PM , Anonymous Anonymous said...

There was actually a little over 1.2 million silver quarters produced for the 2008 coins when you combine the silver sets together so that makes them not the lowest of the state quarters.

775,000 silver 14 coins sets 2008
430,000 5 coin silver quarter sets

Combined it is 1,205,000 coins

At July 27, 2009 at 8:45 AM , Blogger Lasloo said...

Coinworld says that the Denver mint has started back up the presses and is making more 2009 nickels. No news about the Philly mint or the status of 2009 dimes. It also seems that the "Strategic Reserve" idea might just become a reality. So much on relying on mintage to define a coin's rarity and worth! :-)

At July 27, 2009 at 8:46 AM , Blogger Lasloo said...

Oh, also, probably of interest to people here... CoinWorld stated that Proof versions of the American Buffalo are in doubt. Thus, possibly no W-minted gold buffalo coins this year.

At July 27, 2009 at 12:53 PM , Anonymous Anonymous said...

I still think the Mint will crank out a few 2009-W Proof Buffaloes, for series continuity if for no other reason. However, if you want any you had best order them EARLY!


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