Mint News Blog

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Thursday, July 1, 2010

Franklin Pierce Presidential Dollar Coin Cover

Today July 1, 2010 at 12:00 Noon ET, the United States Mint will release the Franklin Pierce Presidential Dollar Coin Cover. This will be the second release of the year and the fourteenth release overall for the American Presidency $1 Coin Cover series.

The cover will include two Franklin Pierce Presidential Dollars from the first day of mintage at the Philadelphia and Denver Mint facilities. These will be mounted on a display card within an illustrated envelope. The 44-cent Flag postage stamp is postmarked May 20, 2010, Hillsborough, NH, representing the circulation release date for the coins.

The Franklin Pierce Coin Covers are limited to production of 32,000 and priced at $15.95 each.

While it may partially be the impact of the slower summer months, I have been noticing that the US Mint's subsidiary-type products have been experiencing sharp sales declines.

The most recent example is for the Presidential $1 Coin & First Spouse Medal Sets. The set featuring Franklin and Jane Pierce sold only 1,340 units in the opening sales period. This compares to initial sales of 2,362 for the previous set featuring Millard and Abigail Fillmore. The second previous set featuring Zachary and Margaret Taylor had debuted with sales of 2,702.

The two most recent Presidential $1 Coin Covers had recorded initial sales of 17,833 for the Millard Fillmore cover released on April 2, 2010 and 18,705 for the Zachary Taylor cover released December 30, 2010. It will be interesting to see how much of a decline is experienced for the Franklin Pierce cover. Dropping sales are likely an indication that some US Mint customers are getting bored of the current product line up or dismayed by this year's higher pricing.

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23 Comments:

At July 1, 2010 at 7:07 AM , Anonymous Anonymous said...

The price might be a factor, but since it only went up $1 it isn't too bad.

I wonder how many subscriptions the Mint has sold for the Presidential Dollar Covers? That factor could come into play when it comes to determining how long the Abraham Lincoln cover remains available for direct sale to non-subscribers. Just to make sure I don't miss out, I will likely subscribe to the Presidential Dollar covers after the James Buchanan is released, and then cancel the subscription after Lincoln is released and shipped. I know that might seem like a low thing to do, but it would guarantee I get the Lincoln!

 
At July 1, 2010 at 7:10 AM , Anonymous Anonymous said...

The 2010 Mint Set is now listed and pictured in the "upcoming" section of the website. The picture did not change AGAIN, at least on the prototype pictured.

I liked it so much better when the picture on the set each year was something different!

 
At July 1, 2010 at 10:33 AM , Anonymous JA said...

I know I'm not in the majority opinion when I say this but there are some products in the mint lineup that just appear much too overpriced for the average collector.
I can certainly see the initial attraction to want to collect these for every single president and end up with a nice collection. But when you figure in other coins you want to collect, items going on and off, it isn't too long before you ask yourself:
"What am I truly getting for my $14.95? just 2 dollar coins"

 
At July 1, 2010 at 10:58 AM , Anonymous Anonymous said...

Yup, $2.00 for $15.95, think I'll wait and get 'em on eBay next month for much less!

 
At July 1, 2010 at 12:24 PM , Anonymous Anonymous said...

Entrepeneurs hoping to make profits result in many of the sales. If you look at eBay prices for previous dollar coin covers, there simply ain't much interest for previous covers.

So why should entrepeneurs buy 100s of covers when there's a chance of an overall loss?

Collectors may buy 1 or 2. Entepeneurs buy 100s.

 
At July 1, 2010 at 1:25 PM , Anonymous Anonymous said...

True, the covers don't do much anymore. The early ones (Washington through Jefferson) did fairly well for a short time in mid-late 2007, but from 2008 onward they have done pretty much nil.

The Van Buren cover sometimes does pretty well though ($40+), since it was the lowest-production (around 25,000 if I recall correctly) and does not show up for sale very often or in any kind of quantity.

For some reason, the Mint did not end sales of the 2009 covers on June 30, 2010 like they ended sales of the 2008 covers on June 30, 2009. That resulted in artificially low sales numbers for the Van Buren and to a lesser extent the Jackson.

Whatever the case, the Abraham Lincoln cover will be a hot seller and fast sellout. Look for a lot of speculation in that one. Even if the Mint increases production back to 50,000 units, they will still sell out and command a premium for a time.

 
At July 1, 2010 at 1:32 PM , Anonymous Anonymous said...

I don't care if only 50 sell, I don't want any of them!!!!!!!!!!! US Mint stinks, I say that because Moy himself probably lurks here in the shadows to see how angry the bread and butter collectors feel about the mint and its offerings.

 
At July 1, 2010 at 2:59 PM , Anonymous Anonymous said...

The Moy Toy is just that.A puppet for the Fed.His repeated ability to skirt around simple questions with political answers that don't answer the questions just shows that he is there to make a mystery out of what is fast becoming a very limited year for production selections.The Fed and congress are all doing the buddy system to feed the right sellers for maximum profits with no regard for the average collector.Hence, the rich get richer off of the poor collectors who just want a fair shake and can't get one.

 
At July 1, 2010 at 6:21 PM , Anonymous Anonymous said...

It is most interesting how only certain, select sellers can get their greedy paws into the pie. Is he political, you betcha.

 
At July 1, 2010 at 6:23 PM , Anonymous Anonymous said...

If you think the initial sales were poor and decreased for the current 'offering', just wait until the the next several are released, and looking into 2011, ultimate failure is forecast. The choice is resounding........NO to uninspired junk being pushed out.

The Mint should be honestly ASHAMED. To raise prices, whether .50, 1.00, or whatever in a depressed global economy is an abomination that has begun a groundswell of sales boycott. This is not what collectors want to do, but their choice is abundantly clear.......just say NO.

The end of a old tradition is begining to focus.......and tears now swell the eyes.

 
At July 1, 2010 at 8:23 PM , Anonymous Anonymous said...

Here is a quote from Franklin Pierce which seems to be fitting for the US Mint.

“There's nothing left . . . but to get drunk.”

 
At July 2, 2010 at 5:29 AM , Anonymous Anonymous said...

To the poster of the above, quoting Franklin Pierce - that is very timely, approptiate and funny... And it is true, thanks for the laugh this morning.

 
At July 2, 2010 at 6:52 AM , Anonymous JA said...

No I will not be buying the Gene Wilder Coin Cover.
Maybe if it had Richard Pryor on the reverse side.

 
At July 2, 2010 at 7:50 AM , Anonymous Anonymous said...

I don't mean to change the subject again.But I would really like to know why there is no mintage report on the 2010 D nickels yet.There seems to be an outrageous premium on the D rolls and the P rolls have come down quite severely.If the mintage is as it was in 09.The Ds will be a higher mintage then the Ps.I really am quite surprised that The mint is not announcing the Mintage.Why is this and does anyone know.The P rolls may very well be the best deal out there in the long run if they become the lowest mintage in 50 some years.Do you know why this is Michael?I hope everyone has a happy 4th

 
At July 2, 2010 at 8:20 AM , Anonymous Anonymous said...

What a rip off. I'm pretty much done with mint products aside from the annual proof/mint sets.

So when are we gonna start seeing some pleasing coins that actually circulate? How much longer are we gonna see one of the biggest crooks in US history on the dime? What will come next after the "America the Beautiful" UH OH, I might get sued for infringements, I mean the Park Quarters? A Heinz 57 varieties program? Does anybody know what it would take to get new designs for the nickel or dime?

I like how the mint has all kinds of standards of what artists are qualified to create designs for coins. Are you kidding me? It just goes to show you that a degree and such doesn't necessarily translate into results. Most of these people who design our coins don't have any talent. They really need to open it to the public without all the fine print and qualification requirements. It's rather silly if you ask me, a good design is a good design.

The only half decent coin we have is the shield cent, which is a throwback to early coinage. This years Sac isn't too bad either, but I don't care for the edge markings.

 
At July 2, 2010 at 8:21 AM , Blogger Lasloo said...

Personally, I am a big fan of the First Day Coin Covers.

But, honestly, only the 6 D.C. and Territory quarter covers from last year were the most unique and colorful and inspiring ones from the Mint.

The Westward Journey nickels and Sacagawea dollar FDCCs were pretty good too.

But the State and Presidential ones have just been ok... definitely not their best work. Weird that they did their best work on the territory ones... places that most of us probably have no real attachment... though, it does help in learning more about these places... useful things to know if you like to play along with Jeopardy or Trivial Pursuit! :-)

So, though the states and presidential covers aren't as good... as a fan, I'll still be collecting all of them. I only wish they had made some for the pennies last year and the new ATB quarters this year.

But collecting these has made me more interested in seeing covers that other people and businesses have made over the years.

Most, however, seem to be created around medals (rather than coins), but that in turn has gotten me into the medal side of numismatics which has been interesting.

However, I have a really cool coin cover postmarked in '74 on Jefferson's birthday, and included both a first-year Jefferson nickel (1938 if I remember correctly) and a war-time nickel (composition was a bit of silver, manganese and copper). Lots of good info about Jefferson and nice pics and just a very cool cover.

Oh, and I'm a sucker for the electroplated Presidential medal covers that PCS created in the 80s. I know... I know... worth nothing, right? But they are so much fun to flip through and read and examine. Cool stuff.

 
At July 2, 2010 at 9:00 AM , Anonymous Anonymous said...

They pretty much did make one for the 09 cents last year when they produced the Lincoln coin and chronicle.They should take a lesson from that sell out and put together some history like that set if they want to do good sales.These shrink wrapped poster cards are just kind of cheap in a way.I think that is why you don't see many go for a premium.One is really better off waiting until a complete series is over and purchasing the bulk lot at whole sale when dealers realize that they have lost their butts by buying 100 or more.That way you save on all the shipping costs for each individual purchase.

 
At July 2, 2010 at 9:07 AM , Anonymous Anonymous said...

When I first saw the design of the 2010 penny I was not impressed at all.When I got it in hand I was shocked at how wrong I was and how the design although simple was really quite pleasing to the eye.At first I said that there was no way I could live with this design for 50 or more years.But then I got it in hand and I know now even though I won't live fifty more years.The design was a good decision that will be a great design for years to come.The only thing I truly fear is the thought that Moy said nothing when asked if the cent would be discontinued.I think if our economy gets much worse.The 2010 may very well be the last year of the penny which would be a sad day for America.

 
At August 23, 2010 at 11:08 AM , Anonymous Anonymous said...

Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It's always nice when you can not only be informed, but also entertained!

- John

 
At August 30, 2010 at 9:22 PM , Anonymous Anonymous said...

is the franklin pierce coin cover real gold any at all?

 
At August 31, 2010 at 3:27 AM , Blogger Mint News Blog said...

No, the composition is: 88.5% copper, 6% zinc, 3.5% manganese, 2% nickel

 
At August 31, 2010 at 9:13 AM , Anonymous Anonymous said...

thank you.

 
At September 3, 2010 at 10:01 PM , Anonymous Anonymous said...

I have a Franklin Pierce gold coin and the edge lettering is not correct. The words that are there are not pressed in. What should I do?

 

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