2010 Boy Scouts Centennial Silver Dollar Sales Debut at 214,673
The latest US Mint sales report has just been posted over at Coin Update News. The report includes the opening sales figures for the 2010 Boy Scouts of America Centennial Silver Dollar. As expected, the opening numbers were strong, but there is still some way to go before a sell out.
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.
Using these recent commemorative coin issues as a guideline, it seems fair to say that the Boy Scouts Silver Dollar will sell out within a month at the most. Perhaps sooner, as I think the pace of sales will remain more buoyant as compared to other commemorative coin issues.
Check out the full sales report at Coin Update News.
Labels: Commemorative Coins
posted by Mint News Blog @ 6:57 PM
40 Comments:
Wow that's a strong number. I just ordered 2 of each after reading that and am pondering ordering 10 more of each for the pack I'm in. I work with a cardiologist who usually gives proof silver eagles as a gift to his eagle scouts every year with the exception of last year due to the mints misadventures. He still hasn't ordered any as of today and I think if he even puts this off for another week he might end up with a big fat zero. Even with the price increase in three weeks these already look like winners. 4 dollar spread on the proofs and 2 on the uncircs. I hate to say this in a speculative tone of voice but it sounds like easy money. Don't hate on me .I'm a coin collector for the love of coins and one of my boys is a scout and the other will start next year. But like I said... Easy money.
I just ordered 10 more. Had to. The way these are selling it just made sense. The scouts have 2.8 million current members and 1.1 million adult members. There are approximately 32 million historical members ( used to be in scouting,retired from scouting etc.). Add in the numismatic collectors to this and there is a pretty wide base of potential collectors. It might also be fair to say that a lot of these coins will be given as gifts and tucked away and passed on through scouting families which means a lot won't hit the resale market. The USmint website also said that proceeds go to benefit the BSA as well. Add in a little precious metals volatility and the mix might end up being very good. The only negative i see is the obverse which wasn't the best design that could have been chosen. Well that;s my thinking anyway.
Hooray for the BoyScout/GirlScout Coin!
There was a lot of complaining about the design of this coin. Clearly, there is much interest and the potential for big $$ being made.
Sadly, profits seem to drive how folks feel about a coin design.
Bottom line: Ignore criticisms from those who whine the loudest (remember their usernames, you'll see who they are).
With everybody hoarding dozens of these coins there will be a huge amount to sell in the aftermarket. So good luck selling when hundreds are doing the same thing, Lol.
Wow!
This is really amazing is an amazing project. I believe that it will really be sold out earlier than expected as many are starting to be more and more interested on it...
Just ordered 5 of it which will surely be a great gift for my fellow boy scouts at heart!
Nice!
2010 (shield) lincoln penny two roll set to go on sale 4-8-2010
To Anon @ March 31, 2010 5:32 AM :: Thanks for the heads up , but I think I'll pass , besides they will eventually hit circulation , and if not ,well I guess I'm not gonna have any:) And on a final note, I'm glad to see such strong sales numbers for the BSA dollar. Even though it has been widely criticized , it has already shown to be an extremely popular seller .Now whether the actual buyers are interested in the coin or just flippers hoping to resell at profit remains to be seen. Either way I'm glad I have my 5 of each (which will be given as gifts).
Any ideas on how the Mint will split the mintages between PROOFs and UNCs?
Do they have a preset number or percentage for each product or will they allow to order 350,000 and let the demand decide on final mintages?
The scout coin is great for gifts to scouts or as a collectable for current scouts or scouting families. I'm not convinced of its investment value though. The initial high sales may be due to dealers loading up on that 100 coin limit. I haven't decided if I'm in but probably not as I'm not into scouting and don't collect commems. But for those that do good for you and a silver coin is always a nice addition.
Just trying to keep it real, I remember the spouse gold coins being hot sellers to start off. And where are they?
Coin being hoarded by coin dealers and flippers end up having the come on the market eventually. Expect hundreds of competing listing on Ebay like this.
L@@K Boy Scout Coin RARE MUst Sell $25 Buy It Now 1 of 50 available
To Anon @ March 31, 2010 10:25 AM...Thanks a bunch I really needed a good laugh..
Yeah, I'm a little gun shy about chasing after the seemingly "must have" items from the Mint anymore, due to being burned too many times in the past. The eBay scenario described above might not be too far off the mark regarding the number of listings after sellout. The price will not be as low, but the listings will certainly be plentiful. By the time you pay the listing fee plus 9% to eBay, 2.9% plus .30 cents to PayPal, postage and insurance you may end up with less than what the coin cost in some cases. Not really worth the hassle in my mind.
To Anonymous March 31, 2010 10:25 AM
According to your theory,the 2001 Buffalo Silver dollar should be available at $25 as well.
The Boy Scout will be appreciated in the aftermarket as soon as it sells out whether some people want it or not.350,000 Mintage is too small to have the coins selling at below issue price as some people would like to see.
I just received my order from the mint ,(10unc. /10prf), and I must say the coins look much better in hand!! With that being said they shall now be dispersed to current and former Scouts as gifts.
The best comments in this posting are the ones recommending coins as gifts to scouting people. Buy some extra for yourself or to use as gifts to scouts later on. If the price goes up it makes the coin and even better gift. With some of the money going to scouting I may buy one just to suppport that organization although I am not a fan of the obverse design. I am glad to hear it looks better in hand than it does from the picture.
Would've been sold out by now, if it were not for that ugly design!
Would have been sold out by now if Mr.Moy hadn't sold out to the new PC ideals. Read my lips: the coin will be successful out of loyalty to Scouting , not because of the ridiculous PC design.
It will sell out within 2 weeks at most and it will be successful. 350,000 is just too much to sell out within 7 days as many people wanted to happen.
I've been reading a lot about this other coin forums. A lot of the flippers are returning their culls back to the mint. I bought one of each, the proof was nice. The UNC, under magnification, was spotty. Not much sense returning it, as one is more likely now to get the non 69 or 70 that have been returned by folks buying the maximum and cherry picking though then returning the rest. Buy it for a gift, buy it because you like it or need it to keep your commem collection complete. Just don't buy it with the belief that this will be some kind of profit windfall, it won't be. Just by the number of e-bay pre-sales this should be obvious...the hype is artificial.
Ok , now posted >04/08/2010 2010 Lincoln Cent Coin Two-Roll Set..Who's in ?
To Anonymous March 31, 2010 7:23 PM
Do you believe everything you read?
61% of the total mintage has been sold within first 5 days.Do you think it's artificial?It's obvious that the remaining 39% will be sold out within 10 days at max.Once there is a sell out,there will be some interest.The market will set up the price,but it won't be a looser in any case.
Judging by the nays versus yeas it seems as if the nays have the upper hand. Is this contrarian? Like I said- I got two of each for my sons and the rest will have a 4/2 dollar spread even if this doesn't sell out in a couple weeks due to the mints repricing. That's about an 8% return averaged out assuming the mint doesn't make 350000 more or up the mintage. I already have a lot of pack members ready to buy some EVEN though I told them there were still some for sale at the mint. As an aside a lot of pack members don't even know about the release and are hearing this off hand from me. As for displaying my wife thought the reverse would be better to display than the obverse. One of the pack members also had the idea that these might be good fundraisers for the pack in the future. Couldn't hurt to have a few extra. Congrats on the new Baby Mike!!Possibly another scout on his way?!
Just bought my coin this morning due to the Mint delaying the shipping date another day. I definitely preferred one of the other designs for the obverse but the reverse with the Boy Scout logo looks great and will be the side of the coin that stays showing in the case. Being a Boy Scout when I was younger I would have hated to have the coin sell out and not get one.
I feel the uncirculated is about to sell out. I have 3 orders placed all proofs are in stock and reserved, but all Unc. are still on backorder 4/16
Tim
Michael,
I have a question about statistics.Do the numbers provided by the Mint represent only completed orders?Do they count the outstanding orders (backorders) as well?
Isn't there going to be a post regarding the now overpriced by even one more dollar Millard Fillmore First Day Coin Cover? It goes on sale in less than two hours from the time of this writing.
It will sell around 18,000 units very quickly, then the product will die a slow painful death in the Mint catalog until finally being put out of its' misery on June 30, 2011. The limit should have been 20,000 units, not the crazy 32,000 units the Mint somehow arrived at!
To Anonymous March 31, 2010 9:30 PM
To answer you're question, of course I don't believe everything I read, here included, but when dealers on various other sites say they are returning their culls to the Mint after searching through them, why should they lie about it? It's a pretty common practice, unfortunately.
Also, I never stated the BSoA coin is a loser. Scouts will want it, collector that need to fill the whole in their album will want it,that's fine. If it makes someone happy, I wouldn't call that a loser. I even said I bought one each myself.
What I do believe is the flippers will make a little, but this coin design does mot have the draw to move it past that. It's not a timeless design, like the 2001 Buff.
Remember the 2005 Marine Corp Commem? 500K mintage, more than the BSoA sure, but hardly enough for every former and current Marine. To boot this coin had an iconic image of the raising of the flag on Iwo Jima. This coin sold out as well and after the flippers initially made some money, the prices dropped, and the coin is not hard to find.
I do believe the BSoA coin will sell out too. I also believe after a little buzz it will be forgotten. I hope those that want one gets one. But you can't deny many are speculating on this one. Two years from now few will remember it, and that will be the best time to pick one up, for those that missed out. I'm not bothered if you don't care for my opinion, that's just how I see this one. Don't plan your retirement stocking up on it, unless you really love it.
Contrary to previous post, the Marine Corps mintage was 600,000, the Mint was authorized to produce an extra 100,000 for that program.
I agree with the 6:09 4/2 poster.
This coin will sell out, but like the 2005 Marines and the 2006 Franklin's, a year from now these won't sell very well.
I am a flipper (I buy coins and try to sell them for a profit). I've made money in the past but don't see much opportunity on this coin...except in the first 2-4 months after it sells out. And I would only anticipate about a $5-$10 profit per coin at best (selling on ebay and after all the fees, etc.)
But the previous poster hit the nail on the head...if you want this coin and don't buy it now at the Mint price, wait a year or two and you will be able to buy it for less than the Mint's current price.
Times are hard...I'm unemployed (I have an Accounting degree), and I try to make a dollar as best I can.
Ebay just raised their seller fees again. so it's getting even more difficult to make money.
Recently, I've just been buying rolls of Silver American Eagles and Gold Buffalo's hoping that precious metal prices will continue upwards.
As far as making money on the Mint's products, I don't see a lot of opportunity...probably most Lincoln products will do well, and maybe the Buchanan First Spouse Gold coin.
To April 2, 2010 6:09 PM
You are very naive if you believe that dealers are returning these coins back to the Mint.Maybe they want others to return it so they can stock up the majority of them???
The mintage for the UNCs will be around 100,000 which is a very small number and I doubt that someone will be able to purchase this coin at or below issue price.
I know plenty of dealers sending them back. One send 77 of 100 back. Why? Because to make any real money off these things you need PF/MS 69 or 70 (69 is barely worth it after fees). Dealer don't like to tie up assets in items they can't make a percentage off of. They are willing to buy at higher prices if a coin is trending higher. Flippers want to make a big score right away, but some are willing to make it up in volume. Maybe there are people that will make a couple bucks initially on e-bay, maybe some will sell at cost. I'm also sure TV coin shows will be saying they are the best thing since sliced bread. They will make some money. So calling one naive to believe dealers don't return less than perfect coins is naive in of itself.
JDM good call on the mintage for the USMC coin. See how forgettable that was? It still makes little difference to my opinion, not enough for every Marine in or out of service.Consider also, the USMC does have a coin collecting base (with challenge coins and such). Many Marines, past and present, have more disposable income than most scouts (Though my guess is troop leaders are doing most of the spending). How many scouts are interested coin collecting? Hard to say. There are some YN's no doubt. Most youngsters I know would say "wow, cool" put it in their drawer (after cracking it out of its capsule, show a few friends, playing with it for 5 minutes) and forget about it. Your experience with kids may vary.
While I believe this is not the best design they could of chosen, I'm not hating on it. I know some folks want it to do well, nothing wrong with that. I hope everyone that wants to flip make a big pot of money. I don't sell coins, never have. Doesn't matter to me if it is worth $100 or two cents tomorrow. I'm a collector, but that doesn't mean I don't look at trends or try to stay current. Good luck to all the collectors dealer, and flippers. I hope this coin is everything to everyone, that they want it to be. Just my opinion.
To April 3, 2010 5:30 PM
You are referring to the information that you have read on a different forum(in regard to 77 coins returned)which can't be proved.
2001 Buffalo coin had a 500,000 mintage which was split almost evenly between MS and Proof.The majority of coins ended up in dealers' hands and as a result you have very high prices.
The dealer always makes money, even on 69s,so you are wrong if you think otherwise.
Personally, I have absolutely no interest in this coin so my opinion is not biased in any way.
There will be a sell out and that's 100% probability.Once it occurs,we shall see who is right.
I once returned 78 Jamestown unc's back to the mint and kept the remaining 22. This is fact I am sure I could dig up my paper work if anyone doubt's this practice. It does happen. I did not return any of the scout coins as they were struck nicely. I know of a few other dealers and flippers that purchased a large quantity of these coins and did not return any back to the mint. I am not sure of the mint policy when it comes to returns, I have to assume that they just put them back on the shelves for the next order and if that is the case it is always best to order whatever coin you want as soon as possible in order to prevent yourself from getting any culls. Sometimes it's not easy to do if you want to buy in quantity because you may want to see the initial demand, after market prices, bullion price moves and etc. But if you are only going to purchase one coin and have the funds to do it and you know you will eventually purchase it I would suggest buying as soon as possible to prevent a sellout or cull.
How often in past has the mint raised the mintage as they did on the usmc com. coin? I would also like to make a couple bucks on ebay selling some boy scout com.
Tim
To April 3, 2010 8:52 PM you write:
"You are referring to the information that you have read on a different forum(in regard to 77 coins returned)which can't be proved."
...and then go on to say:
"Personally, I have absolutely no interest in this coin so my opinion is not biased in any way."
I'm glad you're the most honest opinion on the Internet, bravo. But using your own logic, as illustrated above, your lack of bias cannot be proven. But then why should you lie? Why should someone else lie about returns? What is to gain? Everyone has their own take on each coin. There is no doubt about this commem selling out. A quick sellout of course will be best for flippers. The real question is how much interest will remain after the sellout and for how long? Yes time will tell, but the odds are not high, with a few notable exceptions.
To April 4, 2010 12:14 PM
On the very same forum and in the same discussion,there was some person claiming he/she refused delivery.Do you believe that as well?
Also,did those dealers (who said they were returning coins) tell you how many they have really ordered and how many they have sent back for replacements? Do you think each dealer is buying 100 coins of each option?If someone ordered 1000 coins and wrote on the form he has returned 77 it is not clever to say that ALL the dealers are returning those coins and they would not be popular.
My opinion is not biased since I have no interest in these coins.That's a true statement and read a lot of different coin sources on different subjects.I would like to finally see Mark Twain Commemorative coin-that will be interesting for me,maybe not so popular among the others.The mintages for all the future commemorative coins should be reduced dramatically-I would love to see 4 commemoratives per year with 250,000 each rather than 2 with 500,000 each.
Per the mint web site on returns: "The United States Mint does not accept partial returns, nor does the United States Mint issue partial refunds."
Per the US Mint web site:
The United States Mint does not accept partial returns, nor does the United States Mint issue partial refunds.
Sure a partial return being half a proof set or something like that. "An entire product" is one item # and all coins associated with that individual item, but you need not return multiples of the same item number. They even ask how you want to handle each item you return on a separate basis. Here's the text directly from the Mint catalog website, it explains it clearly when you read all of it:
Returns, Replacements, and Exchanges
"If for any reason within 7 days (except for Circulating $1 Coin Direct Ship Rolls) of receiving your product you are dissatisfied with your purchase, return the entire product for refund or replacement. Shipping charges will not be refunded.
The United States Mint will not accept partial returns nor will it issue partial refunds. For example, if you receive a United States Mint Silver Proof Set™ where one coin is in unacceptable condition, you must return the entire Proof Set, not just the one coin, to receive a refund.
To return your product, use the reverse side of your packing slip to let us know why you decided to return your item(s) and your desired resolution (replacement, refund, or exchange) for each item. Use the provided return label or address your package to..."
Now look at the bottom right hand side of your invoice. You'll notice it states on the return slip Qty Shipped and Qty Returned.
I ordered 3 proof sets in 2009, one was of the coins was scratched in one of the sets. I returned one and it was replaced, I could have just as easily got a refund. Why on earth would the Mint want you to return everything you bought on one order if most of the shipment was fine?
Unless you refer to hlf a mint set a paerial refund (in which you;d be right), they do refund your money for each item you return no matter how many was in your original order.
http://catalog.usmint.gov/webapp/wcs/stores/servlet/ReturnView?langId=-1&storeId=10001&catalogId=10001
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