Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, March 24, 2010

Opening Sales Figures for Abigail Fillmore Gold Coins


The latest weekly US Mint sales report published on Coin Update News provides the opening sales figures for the recently released Abigail Fillmore First Spouse Gold Coins. So far, the reduced maximum mintage has failed to inspire materially stronger sales.

From the initial release date on March 18, 2010 through the sales reporting date of March 21, 2010, the US Mint sold 1,824 proof coins and 1,057 uncirculated coins. This makes for a total of 2,881 coins and accounts for 19% of the overall 15,000 maximum mintage. Previous releases of the series had maximum mintages set at 40,000.

I was surprised that the reduced maximum mintage had so little impact on the opening sales figures. When I wrote prior to the release of the Abigail Fillmore coins, I offered the opinion that sales would be stronger than the previous release. This turned out to be true, but not by a material amount.

The opening sales figures for the Margaret Taylor First Spouse Coins were 1,791 proof coins and 1,048 uncirculated coins for a combined total of 2,839. Looking back further, opening sales for the Sarah Polk First Spouse Coins were 1,684 proof coins and 921 uncirculated coins, for a combined 2,605.

At this point, it seems like the First Spouse Gold Coin series has stabilized, with low but steady demand across recent releases. Later in the year, this may change when the James Buchanan's Liberty and Mary Todd Lincoln coins are released. Whether the popularity of these two issues has an impact on the broader series remains to be seen.

Updated figures were not provided by the US Mint for the Anna Harrison First Spouse Gold Coins. Sales for this offering recently concluded on March 18, 2010. The last reported figures covered sales through March 14, 2010 and showed sales of 3,537 uncirculated coins and 6,250 proof coins. For now, these will remain the last available sales figures.

Check out the full US Mint Sales Report.

America the Beautiful Quarters Unveiling Ceremony

On a separate note, today March 24, 2010 at 12:00 Noon ET, the United States Mint will be unveiling the reverse designs for the first five America the Beautiful Quarters.

The event is apparently only open to members of the media, however, there will be a webcast available online at http://americathebeautifulquarters.gov/webcast . I have been told that this new site will go live about 15 minutes before the start of the ceremony.

I will be back with another post later today to showcase the released designs. For now, you can take a look at the 2010 America the Beautiful Design proposals.

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17 Comments:

At March 24, 2010 at 7:46 AM , Anonymous Anonymous said...

Not at all surprised the lower mintage did not produce a higher level of interest as I predicted in a prior post.
It goes back to the appeal of the series. If you have not been collecting them all since the beginning, a lower mintage (and high price) at over $700 each is not going to suddenly ignite interest in the series or the coins.

JA

 
At March 24, 2010 at 7:52 AM , Anonymous Anonymous said...

i definitely agree with JA. why start a collection in the middle of a series with such high premium prices? even setting a lower mintage to spark the 'rarity effect' now, does not interest me to begin collecting these coins. i just wonder if the mint used 1/4 oz of gold to reduce the cost of the coins, interest would have been increased.

 
At March 24, 2010 at 8:05 AM , Anonymous Anonymous said...

I purchased an Abigail Fillmore gold coin and it shipped yesterday. I was going to wait to see if gold would takes a dip in price but then I decided to take the plunge...
It will be interesting to see if the mint produces other gold coins for collectors, Some quarter ounce gold coins would attract more collectors and be more affordable. I agree with earlier post, the longer series of coins is a bit daunting.

Goldfingers

 
At March 24, 2010 at 8:12 AM , Anonymous Anonymous said...

I cancelled my order that I placed on the 18th, since the coins weren't going to sell out after all. I just couldn't take any chances. I've been collecting the series directly from the Mint since the first two went on sale on June 19, 2007 and I'm not ready to quit yet.

Mary Lincoln will be in heavy demand, and with only 20,000 coins a sellout will be quick on those. Hopefully not in the first day, but probably within the first week all 20,000 will be sold. This is especially true if the lack of an order limit holds. I can see some rich flippers being willing to buy anywhere from 5-10 coins with faith they will be able to be profitably sold.

Gold took a hit today, with both fixes being under $1,100. Unfortunately those two figures don't count in next week's price determination, but with any luck the lower prices will hold for a few days and we might get a price decrease next week. If so, I'll probably go ahead and buy then.

 
At March 24, 2010 at 8:14 AM , Anonymous Anonymous said...

By the way Michael, thanks so much for your quick posts of the Mint sales figures! I used to have to wait until Thursday to see them when I depended on the Numismatic News website. Your timeliness is greatly appreciated!

 
At March 24, 2010 at 9:29 AM , Anonymous Anonymous said...

They're not selling because they are overpriced by close to $200.

 
At March 24, 2010 at 9:53 AM , Anonymous Anonymous said...

Well, the pricing is not going to change. People can either buy them from the Mint or they can pay more on the secondary market later. All of the coins so far are selling for more than the prices the Mint ever charged for their design, in come cases by quite a bit. It will only get worse as the mintages get smaller and smaller.

Just days after going off sale for $716, an Anna Harrison Unc coin sold for $870 on eBay. Overpriced based on gold value in both cases, but the Mint's price was better.

If the prices go down another $25 next week, do give consideration to picking up a Letitia, Julia, Sarah and Margaret if you think there's a chance you will ever want to have them in the future.

 
At March 24, 2010 at 10:01 AM , Anonymous Anonymous said...

I guess I was the only one that ordered 1,000 of each. Do they take returns?

 
At March 24, 2010 at 5:27 PM , Anonymous Anonymous said...

Any one know if the mint drops gold prices tommorrow?

 
At March 24, 2010 at 5:49 PM , Anonymous Anonymous said...

No average price to high over the past week. If it stays down maybe next week.

 
At March 24, 2010 at 5:59 PM , Anonymous Anonymous said...

The only surprise here is how little interest keeps spouse coin sales as high as they are. Mintages should drop to 3000 for the unc.

 
At March 24, 2010 at 7:41 PM , Anonymous Anonymous said...

I know these coins are mandated by law, but that 1/2 oz could have been put to better use on something else for the collector. I just don't think the interest will ever be there and a few years down the road if you want to unload a set it will be difficult. On the other hand at least the collector will have over a pound of gold which should be worth quite a bit more down the road when the dollar ain't worth much.

 
At March 24, 2010 at 7:59 PM , Anonymous Anonymous said...

Yeah, it would prove difficult to sell a complete set of the First Spouse coins due to the extreme cost. But, the fact that there can be so few sets even in EXISTENCE would make them pretty tantilizing and a very cool item to own!

The Anna Harrison Unc coin has jumped in value quite a bit since going off-sale last Thursday, and the Van Buren Unc coin is already extremely difficult to locate, especially a raw one.

Everybody bashes the series, but I'm telling you those who persevere to the end will have an item to be proud of!

 
At March 24, 2010 at 9:33 PM , Anonymous Anonymous said...

To above commenter that is an interesting proposition. There may only be a few hunderd complete sets in the future if that many and how difficult and costly would it be to put one together off fleabay. It all depends on demand I guess. In ten years a set may cost as much as a small house. Maybe they could be sold to a large museum or historical society. Anyway its still over a lb. of yellow as stated above and that is always gonna be worth a bunch.

 
At March 28, 2010 at 5:48 AM , Anonymous Anonymous said...

see anna harrison (both proof & unc) to take off and pass $1,200.00. the lowest final mintage so far.

 
At March 28, 2010 at 10:01 PM , Anonymous Anonymous said...

Low mintage doesn't mean squat unless there is a demand to go with it.

 
At April 1, 2010 at 8:30 AM , Anonymous Anonymous said...

Give it time, the demand will come later. Time and time again the products that no one seems to want during Mint availability turn out to be the ones that are GOLDEN down the road. In the case of the First Spouse coins, quite literally!

 

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