Mint News Blog

News, Information, and Commentary on US Mint Products

Monday, February 22, 2010

Abraham Lincoln Presidential Dollar

Today, the 2010 Presidential Dollar Proof Set that I ordered from the US Mint arrived, providing the first view of the Abraham Lincoln Presidential Dollar in hand.
I don't typically order the separate Presidential Dollar Proof Set. I usually wait for the full annual proof set to be released, which provides a better value. However, this year I decided to order the set to get an earlier look at the Lincoln Presidential Dollar. I think that many people had the same idea.

As mentioned in the Coin Update weekly sales report, the 2010 Presidential Dollar Proof Set sold 224,426 units in the debut sales period from February 11 to February 14, 2010. This is almost triple the number of 2009 Presidential Dollar Proof Sets that were sold during the opening sales period. Last year's set sold 82,168 units in the period from February 10 to February 16, 2009.

Many people called 2009 "the year of Lincoln", but there will be plenty of Lincoln related coins and products available this year as well.

The next product should be the 2010 Lincoln Cent Two Roll Set, expected to be released during the month of March. The 2010 Presidential Dollar Uncirculated Set will follow in April. This set will contain the satin finish versions of the 2010-P and 2010-D Lincoln Presidential Dollar.

The full annual clad Proof Set, Silver Proof Set, and Uncirculated Mint Sets will be released during the July/August/September period. These sets will debut the 2010-S Proof Lincoln Cent and 2010-P and 2010-D satin finish Lincoln Cents, along with the proof and satin finish versions of the Lincoln Dollar, previously released in the component Presidential Dollar Sets.

The release of the Abraham Lincoln Presidential Dollar for circulation is currently scheduled for November 18, 2010. On this date, the US Mint would begin sales of 25-coin rolls of the circulation strike versions of the coins. I also anticipate that the Mint will host a launch ceremony around this date, with a coin exchange available following.

In the month of December, the Mary Todd Lincoln First Spouse Gold Coin and Medal will be released. Other Lincoln products to be released in December will include the 2010 First Spouse Four Medal Set, containing the Mary Todd Lincoln Medal, and the Abraham Lincoln Dollar Coin Cover. Lastly, the Lincoln Presidential Dollar and First Spouse Medal Set is also expected around this time, although the product doesn't currently appear on the schedule.

It will be interesting to see how the US Mint treats the release of some individual Lincoln products. For example, the Presidential Dollar First Day Coin Covers have recently had production limits of 40,000, which would be an easy sell out. Will the Mint raise production for the Lincoln release or perhaps impose a low household limit?
On a final and related note, another coin featuring Abraham Lincoln arrived in my mail box today. It is a 75 pesetas coin issued by Equatorial Guinea in 1970 with a portrait of Lincoln. My Standard Catalog of World Coins says that the coin contains .4818 oz silver and had a mintage of 4,390. The portrait bears a strong similarity to the 2010 Lincoln Presidential Dollar. Both appear to be based on the same photograph that can be found here.


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28 Comments:

At February 22, 2010 at 3:32 PM , Anonymous Anonymous said...

FYI The Lincoln Cent Roll exchange in Washington DC will be on Thursday 2/25/10. This is the rescheduled date from the snowed out 2/11/10 date.

 
At February 22, 2010 at 4:33 PM , Anonymous Anonymous said...

Michael, according to Coin Vault and Shop at Home information, the satin finish coins will nolonger be made. Is this not true??????????? The Dukester

 
At February 22, 2010 at 4:44 PM , Blogger John said...

Michael,

What is your opinion of the Lincoln dollar now that you have one to look at?

 
At February 22, 2010 at 7:03 PM , Anonymous Anonymous said...

I believe the U S Mint announced at the end of 2009 "no satin finish coins"!!!!! Please correct me if I'm wrong!!!!!

 
At February 22, 2010 at 7:10 PM , Anonymous Anonymous said...

HSN also said that the "Satin Finish" coins will not be made after 2009.

Does anyone really know?

 
At February 22, 2010 at 7:54 PM , Blogger Lasloo said...

Coin Vault, Shop at Home, and HSN are NOT reliable sources. They say a lot of things in slightly misleading ways to make you believe they have the only versions of whatever they are trying to sell.

I've seen these shows at times, and what they often say are things that are syntactically true, but said in such a way to make people think something bigger is happening.
They'll say things like 'No more Washington Presidential coins will ever be made again!! You must buy now before you lose your chance to get one!". They never mention that more than 340 million were made and that Coin World has published reports that the Mint has estimate that they have 12 years worth of Presidential dollars they still haven't been able to ship out. It's all a hard sell that in the end means nothing.

As to what they are referring to when you say they said that no more satin finish coins would be made, I would make sure you listen carefully to exactly how its phrased. Do they mean that no more 2009 satin finish coins will be made? If so, yes, that's the case. However, there is NOTHING that I have remotely read that even remotely suggests that the Mint is going to stop making satin finish uncirculated coins. The uncirculated Presidential set is coming out soon and that, as far as I know, has a satin finish.

 
At February 22, 2010 at 11:00 PM , Anonymous Anonymous said...

My 2010 proof sets had a lot of lint, particles and other unknown debris inside the cases. The Lincoln coins had a gritty, bubbly surface. The coin in the photo here looks like junk, too. Why are there so many spots and fine lines on the field?

 
At February 22, 2010 at 11:12 PM , Anonymous Anonymous said...

Anyone who buys coins from HSN, CSN, Shop NBC or the TV coin vault is paying 4X too much.

 
At February 23, 2010 at 5:44 AM , Blogger Michael said...

"What is your opinion of the Lincoln dollar now that you have one to look at?"

It looks better than I thought it would after seeing the first released coin images. Comparing it to the original photograph on which it is based was interesting. The coin portrait makes him look younger with more angular features. The details of the beard and eyebrows aren't really a good representation of the actual.

"Michael, according to Coin Vault and Shop at Home information, the satin finish coins will nolonger be made. Is this not true???????????"

This rumor has been going around for a while, and the only source has been the home shopping TV shows. I have not received any information on this from an official source, or seen it stated in a print coin publication. The US Mint's subscription page also states that the 2010 Mint Set coins have satin finish.

I will put in an inquiry and try to get an official answer to definitively settle it.

 
At February 23, 2010 at 5:59 AM , Blogger Michael said...

"The Lincoln coins had a gritty, bubbly surface. The coin in the photo here looks like junk, too. Why are there so many spots and fine lines on the field?"

some of the lines are on the plastic case or second plastic insert around the coins, but my set definitely is not top quality. there are disturbances in the fields that would preclude a top grade.

 
At February 23, 2010 at 6:15 AM , Anonymous Anonymous said...

When it comes to misleading "fluff" advertising, NOBODY beats the Chattanooga Coin Co. Casually scan their regular Coin World ads. They seem to exist by depending that people read or scan their ads and offerings very quickly.

They beat everyone hands down. I wouldn't buy a lead pencil from them. JMO.

 
At February 23, 2010 at 10:37 AM , Anonymous Anonymous said...

The Coin Vault and HSN have stated repeatedly on several different days that there will be no satin coins of any kind made after 2009 because it is too expensive.
That makes no sense since it is a more labor intensive process to make the proof coins with a die that has a mirror background and only frosted highlights then it is to make a overall satin finish.
I only watch those shows because I can't sleep at night and want to see what prices idiots will pay for overhyped coins. I nearly gagged when I saw what they are selling the 2009 and 2010 Lincoln pennies for.

 
At February 23, 2010 at 10:52 AM , Anonymous Anonymous said...

Lasloo ... many of us have been carefully listening to, following and and even recording the HSN "No More Satin Finish" announcements, and I can say with 100% accuracy that they are not 'spinning".

They have specificaly stated and said that the satin finish line from the mint is over and finished and that 2009 would be the last year for the satin finish coins - ever. Not the end of the 2009 run, etc... They have even gone as far as to compare the satin finish to the SMS run in the 1960's.

Is their info correct? Who knows? But, I can say that they have specifically spelled out the end of the whole program many, many times in the past three months.

I personally have recorded several of the shows and played them forwards, and backwards, and they are not spinning. I am no dummy and am not a 'casual collector' being 'led' to a sale. These guys truely have inside info, or are telling out-right lies. They are not 'spinning'.

 
At February 23, 2010 at 1:36 PM , Anonymous Anonymous said...

If HSN and Chattanooga Coin Co. are the same outfit, or owned by the same "corporation", then it all makes sense. Perhaps they overbought the old satins and are spinning baloney to dump the load they are stuck with. If not, time will tell whether HSN is telling the truth. Perhaps they could be. I hazard to say, if false, then they are advertising a fraud over FCC airwaves. I think that's actionable. Very interesting to watch from a distance. If the satin coins are indeed ending, the short run of Uncirculated sets and other satin offerings ought to rise in value substantially in short order as a special short-lived series.

 
At February 23, 2010 at 2:46 PM , Blogger Michael said...

I received a response from the Mint.

Michael White states that there is no truth to the statement that 2009 will be the last year of satin finish.

 
At February 23, 2010 at 3:18 PM , Anonymous Anonymous said...

anyone who buys from HSN is a big dummy! Fred G. Sanford

 
At February 23, 2010 at 3:23 PM , Blogger Lasloo said...

If you're into modern coin collecting, the satin finish is actually a boon to that segment of the collecting community (though, I seriously wish the Mint would rename its Uncirculated Set to something like Satin Finish Uncirculated).

Before satin finish, it was a lot easier to get a high grade modern coin since you could just break open a mint set to get a pretty good one. When the Mint went satin finish, and the third-party grading services made note of it... then something like a MS67 version of a modern coin became a lot rarer.

In addition, you now have a new 'type' or some call it a new 'die variety' to collect. So, if, for instance, you want to have a complete collection of state quarters, you not only get the normal P,D,S minted versions... but you also get the satin finish P and D versions as well.

None the less, as to the TV coin show debate... if they are truly saying that no more satin finish coins are being made after 2009, then I think you could legitimately call whatever govt agency deals with fraud and have something done about it. Either that, or the rest of us coin collectors have been strangely out of the loop about the discontinuation of the satin finish. They aren't currently selling any 2010 product that would have satin finish... but when they do, let's make sure we keep an eye on it to ensure that it is satin finish. I did notice that the Disabled Veteran uncirculated does state its satin finish... but not sure that counts.

 
At February 23, 2010 at 3:23 PM , Anonymous Anonymous said...

LOL. Way to go HSN and Chattanooga. It's all about suckering in the uninformed and unwary. Suggest, twist, say it in vague terms......you'll always catch a few rubes every time. There's no ad monitor watching these frauds, so there's no penalty if in a 1,000 years they ever get called on the carpet. No matter, the trick is to never rush or jump to buy anything. Read, re-read, research, question, investigate, then buy if you're fully satisfied. Not everyone is a blatent fraud or blatent thief....many sellers are genuine. You need think before writing a check.......otherwise a fool and his money is soon parted. Sad the way we are progressing as a society.

 
At February 24, 2010 at 6:25 AM , Anonymous Anonymous said...

What HSN and the Coin Vault said was outright "2009 Was the last year for ANY satin coins" Nothing was clouded, suggested or vaque about it. They said over and over again that no mint sets or any other coins will be made in a satin finish.
I agree that if that is so it will drive up the sales of the 2005-2009 mint sets and make a nice seperate collection.

 
At February 24, 2010 at 12:53 PM , Blogger Michael said...

I just found this on HSN.com:

"Recently, the United States Mint announced that, starting in 2010, it will no longer issue special satin finish collector coins in the Official United States Mint Set. This means the first year in the Native American program will also be the only year a satin-finish coin will be released"

http://www.hsn.com/collectibles/2005-2009-p-and-d-mint-satin-finish-sacagawea-dollar-set_p-5903421_xp.aspx

As mentioned, the US Mint says there is no truth to this.

 
At February 24, 2010 at 1:34 PM , Blogger Lasloo said...

WOW!

Is there anything one can do to stop HSN from misinforming the public?

FCC regulates public airwaves, not cable TV, correct? So, is there any other organization one can contact for this kind of thing?

 
At February 25, 2010 at 9:27 AM , Blogger John said...

I would personaly want to add my name into a complaint, if this is true, against HSN and The Coin Vault. They outright lied for profit over the air waves. The satin finish coins are a very beautiful set of coins. The Coin Vault and HSN can not announce US Mint coin production. Only the US Mint can end the production run for satin coins. The Coin Vault and HSN can not.
I don't want our hobbie and investments be outright lied to. How much did a group like that gain by trying to control a industry? We pay enough to the US Mint, the profits they were making were 50 to 400%
I wish I could afford to own a US 1oz Gold Buffalo bought straight from the mint. They sold those coins for around double thier value and we all know how expensive gold is.
The people who bought any satin coins from them were lied to just so The Coin Vault and HSN could make a profit.

 
At February 26, 2010 at 9:01 PM , Blogger Lasloo said...

I'm starting to think about creating the ultimate Lincoln numismatic collection... or at least for numismatic items made in the last several years. I know CoinWorld had a good series on older Lincoln products... but what exactly is the full list of contemporary Lincoln items one could try to collect?

For instance, this is the list I have so far based on the last two years. I'm only including the coins themselves... not the various products that they may have been found in. Am I missing anything?

2008 - last year of Memorial reverse. There are 5 versions of this penny (P, D, S, SF P, SF D)

2009 - 4 different designs with 5 different versions of each design (P, D, S, SF P, SF D) for a total of 20 coins

2009 - Lincoln Silver Dollar - Proof

2009 - Lincoln Silver Dollar - Uncirculated

2010 - the first year of the Union shield reverse. Again, 5 different versions (P, D, S, SF P, SF D)

2010 - The Lincoln Presidential Dollar, 5 versions. (P, D, S, SF P, SF D)

Might even include the 2006-series $5 Lincoln paper bill.

Anything else that I'm missing? Say in the last 5 years? Last 15 years? Later?

 
At February 27, 2010 at 1:26 AM , Blogger Lasloo said...

Just watched HSN's coin show tonight (first I have in a long while), and I just heard it as well. Specifically, he said that the govt will not be making satin finish coins for the normal US Mint Set (i.e., the Uncirculated Set). I guess its a sit and wait game to see if this is true or not. As everybody has pointed out, this has not been stated as a fact anywhere else EXCEPT HSN.
I tend to strongly NOT believe him, because later on in the program they were selling rolls of 2009 P & D satin finish nickels and he ACTUALLY made the statement that they didn't make any 'normal' nickels that year... which IS a bald-face lie (or else he's been misled which is unlikely). I have rolls of both 2009 P nickels and dimes. No one seems to have D rolls yet, but we do know the Mint made some. Now, as to 2010, I think I heard that the Feds ordered dimes, but no nickels yet for 2010. But, this guy was specifically selling 2009 rolls and specifically stated that no nickels were made that year (and seeme to insinuate the same about dimes).

In short, he doesn't know what he's talking about. If I'm being generous, the guy is just easily confused an easily misled by some piece of information he's been given. Otherwise, he's committing consumer fraud.

 
At February 27, 2010 at 4:46 AM , Anonymous Falcon said...

Consumer fraud for profit. He is trying to make people think they are going to get in on a money making idea. Buy all the satin finish coins now and you will be able to sell them for alot more because they are being discontinued. He is trying to make people think they are following someone in the know so it would be best to buy from him.
I have heard him twist and mislead people with several things like the 2009 penny, nickle, dime and the 2010 penny. The vaque and half truths can't be stopped but there should be a way to stop the outright lies.
I also don't see why there isn't a way to buy any coin directly from the mint or through a bank.

 
At February 28, 2010 at 5:30 PM , Anonymous Anonymous said...

When the choice was between the coin vault or coin country I was elated to see the coin vault was no longer on the TV. Coin Country was a refreshing alternative to the clowns on coin vault. It seems like the old coin vault would buy a hoard, pick out the best coins and try to dupe the rest of us into buying the leftover junk. I loved watching that older dude with the crazy hats and their prices were not as high as the vault. When both of these shows converged into one in Dec.08 prices went through the roof and Scott Houk became part of the coin vault deception. I thought I was done listening to Shawn Lefflar say "only 10 on the planet'only to find they brought him back on the new coin vault. The show is so boring I must flip past their channel.

 
At March 9, 2010 at 12:09 AM , Blogger Lasloo said...

On HSN, it seems 'ol Mike Mezack is no longer claiming that the "satin finish" is going away anymore. He didn't correct his past statements. But when selling a number of items that include "satin finish" versions of the coins, he did not once state that 2009 was the last year. In previous episodes, he had said this. So, I'm not sure if he had tons of coin collectors go after him or not, but it seems somebody told him to stop saying that.

None the less, they were selling a cool penny collection that included a P and a D roll of 2008, a roll (both P and D) for each 4 2009 designs, a P and a D roll of 2010 pennies, a roll of wheat pennies, 4 history display cards that had each 2009 design P & D mints encapsulated, AND a 1909 VDB in an AirTite capsule. Sort of a glorified Lincoln cent type set.
Seemed almost ripped right from a suggestion I gave to the Airtite people not too long ago... hmmm.... :-)

None the less, they were trying to sell it for $130. And while for the experienced collector that is WAY TOO expensive... I think for the average collector that just might be worth it. Heck, a P roll of the 2010 penny is going for $6.50 on Ebay at its lowest. So, take that and multiply it by 12 (the number of 2008,2009,2010 rolls), add $15 for the wheat roll, add $4 for the 4 display cards with pennies, plus $30 for a 1909 VDB (the one he was showing looked worth a lot less, though).
That's a total of $127... so, not too bad, ya know?

Of course, I think most of us could create the same thing for a lot less... but for most casual collectors... I could easily see why someone would rationalize buying this one.

 
At December 31, 2010 at 2:30 PM , Anonymous Anonymous said...

Ok, we've invested in gold and silver, but my wife bought these at work at face value, and I have no knowledge on them (the 2010 Lincoln dollar). What is it's value, and do you think it will be worth more later? Thank you.

 

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