American Veterans Disabled for Life Commemorative Sales at 98,358
The first sales figures are available for the 2010 American Veterans Disabled for Life Silver Dollars. The coins recently went on sale February 25, 2010 with introductory pricing in effect.
Through February 28, 2010, the US Mint has recorded sales of 66,209 proof coins and 32,149 uncirculated coins. This makes for a combined total of 98,358. The maximum authorized mintage for the coins is set at 350,000 across all options, meaning that sales have reached 28.10% of the total after just a few days of sales.
With the strong opening sales, is a sell out possible?
Last year, the Louis Braille Silver Dollars had recorded opening sales of 40,844. After two weeks, sales had reached 70,274. The last reported sales in mid-December was 217,874 across all product options.
The more popular Abraham Lincoln Silver Dollar had achieved opening sales of 177,722 across both proof and uncirculated versions. Within about five weeks, sales had risen to the 450,000 level required for a sell out of the individual options. Out of the maximum authorized mintage of 500,000 coins, 50,000 were reserved for the Lincoln Coin and Chronicles Set released later in the year.
So far, the American Veterans Disabled for Life Commemorative falls directly in the middle of last year's two programs in terms of velocity of sales. At this early point, I am inclined to think that the coins will eventually sell out of the 350,000 maximum authorized mintage, but the sell out won't occur until much later in the year.
Go to Coin Update News to view the full US Mint sales report for weekly sales through February 28, 2010.
Separately, I wanted to take a moment to mention a new feature on Coin Update News, gold and silver market commentary by Patrick A. Heller. His commentaries will appear usually twice per week, with new articles published on Tuesdays and Thursday or Friday. Pat Heller owns Liberty Coin Service in Lansing, Michigan and writes the newsletter "Liberty's Outlook." He is also the gold market commentator for Numismatic News.The latest article was published yesterday: Largest Private Refinery Discovers Gold-Plated Tungsten Bar
Go to the page Gold and Silver Commentary to find past articles and new articles as they are published.
Regular features on CoinUpdate.com also include weekly US Mint sales reports, monthly US Mint bullion sales reports, Michael Bugeja's Coingrader Capsule, and the periodic news roundup.
Labels: Commemorative Coins
posted by Mint News Blog @ 6:18 AM
13 Comments:
I am wondering if the initial sales was driven by collectors wanting to secure their orders rather than a constant demand that will be maintained throughout the remainder of the year. My guess would be that it's the former.
Only time will tell.
JA
Well put JA , I'm inclined to agree with you ,that it is the former. Stranger things have happened ,there's a mere 251,642 to go before those anticipated word post >> SOLD OUT!!! I just wonder how many will buy/bought in hopes for a quick sellout to take profits on secondary market? IMHO, the Boy Scouts coin will fair alot better ..
The sales pace should not be a surprise. It is obvious the mint is getting out of the silver business other than bullion. With only a few real silver dollar offerings direct from the mint all of it should sell out before the end of summer. I would also predict the commems will be clad in a few years.
I agree with both assessments above. This coins sales will drop precipitously going forward. The Boy Scout coins will fare better because many will be buying them for their kids as gifts (including me).
The mint is quick to get paid, mine are in stock and reserved ... But no shipping date yet:(
The sales from the general public are more of an indicator of demand than those who come to this blog and complain about the US Mint, Congress, the design, yada yada.
Let sales figure rule. Not complainers.
Both the Veterans and (Boy?) Scout coins are butt ugly. Typically I buy two of each commemorative coin the mint flogs but this time I'll be donating the purchase price of two each to my local VFW and Boy Scout Council instead.
I for one like the healthy debate on this forum. The mix of its participants are balanced and I've benefited from hearing all sides including the rants (a term I prefer to complaining) and the occasional political shots. I believe that all the mint's offerings this year will be sell-outs sooner than later: less availability than last year and no one wants to be left out after seeing what the '09 & '08 offerings did despite questionable product quality across the board. It is what it is.
Jim L.
Jim L.,
I'm with ya!
Though, admittingly, the political rants that are based more on truthiness than facts sometimes tire me out. But, in general, the back and forth on the coins themselves, I find really enlightening at times. Definitely gives me a nice broad perspective on what and why people collect what they do as well as the different financial incentives associated with collecting.
Of course, the highlight of this board will always be Michael's posts. Don't thing there's a coin blog out there that beats this one in terms of content.
I purchased 3 of the vet commems on day of release. 10 dollars from each order go toward buliling a memorial in D.C. for all war vets. My dad is retired navy vet of 20 yrs, and many of his family are disabled vets from every war. Not so much the design, but the principal the coin represents is the reason I purchased them. I am proud of this purchase as everyone who orders it should be.
I think everyone who visits this blog would agree that our veterans deserve the best. I, for one, thank all vets for their service. The complaints aren't with the cause but the COIN! If the mint would have had a more appealing design, it would have created a bigger demand to buy them. The use of symbolism and artistic elements in our coins seems to have evaporated the past few years. It's a shame but if the coins don't sell out, it's because the coin itself didn't create a positive emotional attachment to the design.
I agree with vaughnster. The cause is good, but the design is not up to par with the intentions. There has to be someone out there, of all the artists in the US, that could come up with a better design. When I saw the title of the coin I was excited, but it was a downer when I saw the design. It didn't catch. Hopefully the sales of the coin will benefit the monument being built in DC.
Keep in mind that a number of designs get created for each new coin including these commemoratives. Then two citizen coin groups that have been empowered with the task of judging these designs gets to "strongly suggest" which design the Secretary of the Treasury should go with. Of course, the Secretary has the ultimate say-so, but most of the time he/she is too busy to really focus on coin design issues... and thus, these groups' collective will usually wins out.
Therefore, while the artist and the Mint may be partly to blame, I think it's these citizen coin groups that should really be put to task for these coin design decisions. In many cases, they'll push back on the Mint for new designs if nothing pleases them, and the Mint often obliges. They don't have any official authority, but in practice, it certainly seems they do.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home