US Mint News Quick Updates
I was away for a quick two day vacation, and in my absence there have been a few US Mint related news items. This post will summarize these items before the Labor Day weekend.
2009 Uncirculated Mint Set
The release date for the 2009 Mint Set has just been posted as October 1, 2009. The preliminary price for the set is $27.95, an increase of $5 from the prior year. This set contains a total of 36 uncirculated (satin finish) coins from the Philadelphia and Denver Mints. A notable highlight will be the 2009-P and 2009-D Lincoln Cents for each of the four designs. These coins will be struck in a special composition of 95% copper.The Mint Set has typically been released much earlier in the year (last year's release was July 30, 2008). This year, the US Mint delayed the release to resolve "unique tarnish issues" for the 95% copper Lincoln Cents.
First Spouse Gold Coins
As expected, the Sarah Polk First Spouse Gold Coins went on sale yesterday. The coins were priced at $654 for the proof version and $641 for the uncirculated version. The release of the coins followed a price increase for all of the US Mint's current gold numismatic products.Also as expected, sales of the uncirculated version of Andrew Jackson's Liberty Gold Coin ended on Thursday. The proof version had sold out more than two weeks beforehand. The latest sales statistics indicate that 4,754 uncirculated coins and 7,806 proof coins sold. The figure for the uncirculated version probably does not take into account sales from the final few days. These numbers are both above the sales levels of the prior Louisa Adams coins.
2009 Lincoln Cents
The Formative Years Two Roll Sets (LP2) have sold out once again. The coins had initially been offered from May 14, 2009 to August 12, 2009 with a sales tally of 300,000. Order cancellations and invalid credit card numbers had reduced the actual number of rolls sold, so the US Mint to put the coins back on sale for the past three weeks.Separately, the first sales figure for the 2009 Lincoln Cent Proof Set has been reported at 66,350. This separate set containing only the four 2009 Proof Lincoln Cents went on sale August 26, 2009 priced at $7.95. These four Lincoln Cents were already available within the 2009 Proof Set and 2009 Silver Proof Set.
John & Julia Tyler Presidential Dollar Coin & Medal Set
A reader has reported in comments that a Presidential Dollar Coin & First Spouse Medal Set for Julia Tyler has been received with a packaging error similar to the one reported for some Letitia Tyler Sets. This time around, the sets have the Julia Tyler medal affixed to a display card with a portrait of Letitia Tyler.This is now the third "same last name spouse mix up" from the US Mint. The first was the Abigail Adams/Louisa Adams Medal mule error. The second and third are the Letitia Tyler medal/Julia Tyler card and the Julia Tyler medal/Letitia Tyler card packaging mistakes.
Labels: US Mint
posted by Mint News Blog @ 1:15 PM
37 Comments:
Keep an eye on the Letitia and Julia Tyler medals themselves, as well. They are just screaming for the Mint to get their reverses mixed up as well, especially since they are released in the same year. If the Mint managed to get two reverses from two different years switched, how much easier will it be for them to get them switched for medals issued the same year?
I've already checked the reverses of all of mine, and unfortunately for me they are all the reverse intended for the spouse depicted on the front. I'll just bet that all of the spouse medals are not correct, though. Be sure to check them out!
Surprised at the lincoln sets that only sold 66k so far. I think the Unc sets are going to be a big hit though and we pretty much know that all the proofs for silver and gold are out of the question especially with gold and silver going higher!
I totally disagree that "we pretty much know that all the proofs for silver and gold are out of the question especially with gold and silver going higher!" That just means they will cost more. I may be in the minority, but I put the probability of the Mint releasing Gold and Silver proofs this year at greater than 85%. The shortage of blanks is over and I think the Mint is building up an inventory so the proof eagles can be minted.
why can't they just say .....yes we are going to produce gold and silver eagles....or......no we are not going to produce gold and silver eagles
Buy low and sell high. That's just what the mint is doing with their blanks. They are foolish if they don't try to mint gold and silver coins for 2009...but hey...it's the government.
The 2009 Silver and Gold Eagle Proofs will fly off the shelves so fast it will make your head spin. That will happen despite the rising prices. Collectors are absolutely STARVED for those coins, so money will be no object. There's nothing like the potential of an unsightly gap in a coin collection spanning 24 years to make the heart grow fonder!
On whatever day they end up being released, prepare yourself for some SERIOUS Mint website lag. I will be in there fighting for mine at 12:00 noon ET on release day!
OK!
The Mint Uncir set is slated for October 1st!
What people are not realizing is that even if the mint has enough blanks, what are they going to do next year. The price of Silver and Gold is going up with major hedge funds and big money slowing coming in. Their is going to be a lot more interest in the PM's market. The mint should know by now that they have to build up their inventory b/c by law they have to make the eagles available to the public. Can you imagine if they didnt have enough blanks??? Look at the market to what is happening to all the fractionals, if you can't afford an ounce of gold then these are the next best thing. I just put a set of PR-70's 1/10 gold eagle and it was hell getting the coins together on Ebay. Currently equities are still doing ok but look at the price of gold and silver. Buy your gold and silver 2008's now b/c that will be the last year for these coins!
Fool's gold, an idea...
Maybe, with the price of gold rising the U.S. Mint should make a new coin...perhaps a coin made out of fool's gold. That would attract attention...the price would be more reasonable than their 24 karat cousins and it would keep the price of coins more resonable for more people.
Goldilocks
I have question. I purchased 4 UHRAE at $1289 in the early a.m. last Wednesday. I logged onto the Mint website just now and it shows my order as 4 UHRAE at $1339 and it shows "product no longer available." However, I received the 4 books already on Friday.
I just checked my email from the USM on the purchase and that shows the $1,339 price as well.
However, my printed receipt for the purchase shows the $1,289 which was the price online when I completed the transaction around 6:50 a.m. PST.
I ordered before they took the item offline for re-pricing (I guess it must have been just before).
I am worried now that the Mint will try to charge me the higher price (an extra $200 total) which I never agreed to. Has anyone been in this situation and had the mint try to charge the higher price?
If my only recourse is to cancel the order I'll probably have to pay to return the books.
This would likely be the last time I ever deal with the USM.
I would call customer service and raise hell.
...perhaps a coin made out of fool's gold....
They already did it--US dollar.
Hee hee, good point!
Regarding the UHR order with questionable pricing:
It doesn't surprise me that the Mint might be trying some baloney like that! It seems crazy for them to try it, but it doesn't surprise me. What they should do if they don't want to honor those lower-priced orders is simply cancel them. They have the right to refuse or cancel orders at any time as they see fit. Trying to change the price on an existing order and leave it intact is pretty gutsy (or stupid).
They don't adhere to their own policies, so why should we be surprised? They plainly state in the pricing policy that price changes take effect on the Thursday following the Wednesday am gold price fix. However, they always seem to raise it on Wednesday morning as soon as they determine a price increase is necessary. However, I'm pretty sure that when a price DECREASE is coming down the pike, they wait until Thursday to do it. Surprising, huh?
It reminds me of the way the price of gas seems to work. I've noticed that when one station in town raises their price, you can be pretty well certain that by the end of the day, every station in town will raise their prices to match. However, when one station in town LOWERS their price, it always takes several days for the price decrease to hit every station in town!
It sounds like government run health care. The doctor is standing there with your gall bladder in his hand and says "I'm sorry Mr. Jones, didn't you know that the anesthesia is extra?"
Re: the "govt run health care" crack - does that person mean Medicare? the VA system? The military hospitals system?
If these entities are so bad, just try taking them away from people and see the uproar.
The U.S. mint - now that's another story!
Down with government run institutions!! First to go... fire departments. A government run institution whose sole mission is to save lives. How could that be possible... the government can't do anything, right? Right?
People, the customer service for the US Mint sucks. All of us here know that. So, does the customer service for a lot of small and big businesses (I'm looking at you Verizon). But unlike Verizon, the US Mint's job IS NOT customer service (except if that customer is the Federal Reserve). That doesn't mean they shouldn't be better. Also, doesn't mean that one shouldn't bring them to court for not abiding by their own policies.
But let's stop with this 'throwing the baby out with the bathwater' mentality that seeps onto these boards trying to make some broader case on contemporary political issues. Government is not a for-profit institution. There are some things that should not be based on a profit motive. What those things ARE is up to the population of that government.
But in the end, you can say all you want that you aren't going to do business with the Mint. But who are you left with that you aren't going to have to pay even greater premiums? I don't see a private organization coming in anytime soon to do their job, nor do I think it would be in the country's interest to do that.
Yes, we should push for improvement in how the Mint conducts business with the population at large, but do so mindful of what their ACTUAL obligations are, and the necessary limits and natural bureaucracy inherent in government institutions.
Not for profit??? Then tell me why my (and your) congressman makes three times what I make while doing as little as possible while "serving" me. Our taxes keep going up, while services degrade...the money is going somewhere.
On the topic of military health care (sort of). After my fine military dentist drilled and filled the wrong tooth (surprise! the wisdom teeth are gone...it is in the record), I decided that NO government doctor will EVER do a serious procedure on me.
To all who can read...this is the same government monster that brought us Katrina (not the actual storm...just the results), only the head has changed.
I think you have it slightly backwards in the government corruption department. Most Congressman already have a lot of money which allows them to easily run and win offices, on the most part. It is when they finally hold office, and have that new found power while in Congress that corruption begins. While $165,000 a year is a lot, its pittance when compared to those high up in the business world making millions. Definitely easier and quicker ways to make a lot of money. BTW, you're making only $55,000 something? :-)
And as to your health care example. A lot of money and private doctors didn't do Michael Jackson and many other celebrities any good. I've gone to many private doctors who wanted to run as many tests as they could to get the money... not necessarily see what was ailing me. Many who are happy enough to prescribe what you want as long as you keep coming back.
We could go on and on with examples from your life and/or my life how one or the other system sucked. Just don't tell me that somehow the govt (which an-all-or-nothing govt system isn't what we'll end up getting) would be any better or worse than what we have quality-wise now. One is profit-oriented, and one would be more oriented to long term health. In either system, there will be stupid unethical incompetent doctors. Give me a study that proves that govt doctors have worse malpractice cases than private ones percentage-wise, and then you may have an argument.
Ugh, why do I let myself get pulled into these arguments... when my original point was not wanting these political arguments here to begin with. Maybe next year, the Mint will make a commemorative coin celebrating socialism... give all of you something new to rally against. (that, btw, is a joke.) :-)
Joke or not, it is probably what we will get. Afterall, we are about 45% socialist now. Why not celebrate it. Happy (organized) Labor Day.
Talk to a vet if you think our government can do anything right regarding your healthcare. I have never heard an actual veteran say they thought the VA hospitals were good. By the way Lasloo, Fire Departments are run by local governments (who are much more accountable); not by the Federal government which doesn't give a rip what "the people" think. If the Federal government ran the Fire Departments, we would never have a downturn in housing prices as there were be a huge demand from people who's houses burned to the ground. If anything is worth running inefficiently, then let our government take it over.
May God have mercy on this country!
I purchased a single UHR last Wednesday as well before the price went prematurely up (surprise, surprise). I received an email after placing my order from the Mint stating that the price was $1289. I just went out to the Mint's website, logged in, and checked my order which still shows the same price...$1289.
I would call them up and ask them about it. Sounds like you got your order in earlier than I did as I placed my order about 30 minutes before the premature price increase on the hunch that the Government would violate their own dictates.
I just received an email from the mint stating that they will be processing my subscription order for the 2009 United States Mint Uncirculated Coin Set in about 3 weeks. Does anyone have solid info as to whether the Burnished Silver Eagle will be in that set (like it was last year)?
Jim L.
Does anyone have solid info as to whether the Burnished Silver Eagle will be in that set (like it was last year)?
Did I miss something? I was unaware that 2008 Uncirculated Mint sets contained a "Burnished Silver Eagle".
Anyone confirm this? Perhaps Jim L. is confusing a different set? - Grandpa
The burnished eagle was in the dollar set (currenly still available from the mint). They have never put an eagle in the standard mint set. I havn't heard anything about a dollar set like last year's being produced for this year.
Grandpa-
I appreciate your comment and as a result I re-examined the name of the set I want versus what was subscribed for.
The set I want would be called
"United States Mint Annual Uncirculated Dollar Coin Set" the operative word being "Annual" which apparently indicates the presence of the Burnished Silver Eagle versus the cheaper set coming out in October.
Jim L.
Excuse the prior post as I meant to say that the operative word would be "dollar" not annual. Need to sharpen my proofreading!
Jim L.
I'm glad the discussion is back to coins again. Let's keep politics out of our passion for coin collecting. Heaven knows we don't have to look far to find a blog about politics.
I agree Vaughnster.
But you have to admit the dollar fools gold joke was a good one.
I saw 29 comments and I thought something big happened at the mint while I was as work.....POLITICS.....its gotten so bad that now we're talking POLITICS......Here I thought something sold out early!!!......POLITICS....
Hi Jim, please tell us more about this email from the mint about your subscription. Thanks!!
"A penny for your thoughts."
Since we are back to coins, does anyone have a good vibe about which of the new pennies will prove to be the better investment in ten years...
Gentlemen, start your engines.
Goldilocks
Per the request of this morning re the email I received from the mint it read in part:
"Dear United States Mint Customer,
The United States Mint will be processing your subscription order for the 2009 United States Mint Uncirculated Coin Set in approximately 3 weeks. Our records indicate you have the following subscription(s):
3 Uncirculated Coin Set(s)
The price of 1 Uncirculated Coin Set is $27.95
Jim L.
Thanks Jim!!
To answer the question about which pennies would be the best investment...most likely all of them or non of them. All of them, because they are instanly rare. They will be producing just enough for each person in this country to have precicely 1 of each, and based the massive bicentnnial hording back in '75-76, there won't be a huge number of these in circulation in the following years. None of these, well, in a word horders. There will be soooo many of these available in mint condition, that they will be basically worthless (well, worth about a penny, minus inflation).
I finally found my first circulated 2009 coin this past weekend (a log splitter cent). If anything, I would be inclined to find and horde dimes and nickels.
I tend to agree with the former poster. The dimes and nickels are the coins to get this year. They will be hoarded just as bad as the pennies are, but the mintage is SO low and they are a lot harder to get. You can get boxes with 50 rolls of pennies online for about 3 times face value, but you have to pay 9 times face value for just one roll of dimes or nickels. While I've seen banks/stores in the area have new penny rolls, I personally haven't seen a dime or nickel roll. In addition, you are able to get the pennies either through the LP1,LP2,LP3,LP4 boxes at the Mint or through the coin exchanges at the releases for each penny. The mint has no current way for collectors to directly get dimes and nickels. You might think you could get them by bying the Uncirculated Sets from the Mint, but they aren't truly "business strike"... they have a satin finish on them which makes them one step below proofs... not truly uncirculated.
As for pennies, the copper pennies coming in the Uncirculated Sets "might" be winners. I don't think there is any other avenue that you can get these except in these sets. And since dealers will be buying up these sets to break apart to get to the pennies, the sets themselves, unbroken, will be worth a lot more over time as well.
Just remember. For those of us that are borderline OCD, it isn't about the money, it is about filling those pesky holes in the Whitman's.
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