2011 Presidential Dollar Proof Set
The United States Mint will begin sales of the 2011 Presidential $1 Coin Proof Set on Tuesday, February 22, 2011 at 12:00 Noon ET.
Each set includes proof versions of the 2011 Presidential Dollars featuring Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes, and James Garfield. All of these coins were previously released in January within the full 2011 Proof Set, as well as the 2011 Silver Proof Set.The coins are housed in a single plastic lens within an outer cardboard box featuring the US Mint's new branding. The four coin sets are priced at $19.95 each, which represents a $4 increase from the cost of last year's set.
In previous years, the Presidential Dollar Proof Sets have been released many months prior to the full annual proof sets. This was likely done purposely to provide an incentive to buy the separate component sets-- coins could be acquired much earlier in the year. Without this incentive and with the difficult to justify $4 price increase, it seems likely that sales of the 2011 Presidential Dollar Proof Set will be way down from last year.
The 2010 Presidential Dollar Proof Set had sold 224,426 units within the first three days of availability. The most recent figures indicate that sales have reached 519,553. Will this year's set manage to reach even half these levels?
Labels: Annual Sets, Presidential Dollars
posted by Mint News Blog @ 12:18 PM
17 Comments:
No - they won't. Maybe 30%.
$20 for $4, hum.
It's my opinion that increasing the price on a limited value item is a receipe for failure. The offering itself is OK, but the asking price deters potenial customers from buying. I agree with the blog master. It's inevitable that the Mint will probably see a dramatic drop in sales attributable to excessive prices. Still, collectors can obtain this sub set when the full proof set offering is accessed.
ASE proof sale date now listed on product schedule.
I for one had been collecting several of these sets since 2007.
With the 20% price increase however, I must say my collection is going to end prematurely.
It would have been nice to have bought them all but as someone else said $4 for $20 makes me feel like such a sucker.
I'll be looking to onload the existing sets on FeeBay.
Wow, 25% increase in price from last year.
We are talking clad, not PMs.
Production cost related? Doubt it.
Price increase not in good faith for numismatists.
This year I'm taking $ usually spent on things like subscriptions for poof sets and spending it on small home improvement projects and updating my appliances. I feel better about my new spending trend every day.
The mint could charge any price they want in the last years and collectors will have to pay the price to complete their sets.25% cost increase by the mint and 25% loss in sales still means profit for the mint because of less production cost.
Home improvement ditto for me. I too have put off coin purchases to focus on doing up my place. I've been buying American, and not only from the Mint. I did break down and get a set of the ATB 5Ozers for my collection. I will also get the Ag Proof set and uncirculated set. No commems this year :( but I'm still :)!
Has NGC releases their population report for the ATB 5 oz coins yet? I heard they were going to release theirs this past week... I don't have a membership myself. If anyone can tell me the MS65-69 numbers it would be awesome.
I don't see anything yet. When the numbers are available, they should be here: http://www.ngccoin.com/poplookup/index.asp
These sets are doomed. Who would pay $20. for a cardboard box as the coins come with the previously issued proof set. BIG ERROR on the Mint part.
The only reason I see that anyone might buy these 4 coins sets is if they wanted to start a "series" of recent coins and going forward collect them all. They would not have to pay "extra" for the full proof sets when they only wanted the President coins each year. Perhaps they might judge a set of only Presidential proof coins to be affordable to themselves. Maybe.
Even if all you wanted was the Presidential Dollar lens, you can buy the entire Proof Set for $31.95, then sell the other two lenses (or loose coins) on eBay.
If you can sell the other coins for more than $12, you then got the Proof Presidential Dollars for less than the P.D. Only Set costs.
Since the 2011 (Clad) Quarters-only Proof Set Box/COA is $14.95, why not $12 for the two loose lenses?
When is the first 2011 First Spouse gold coin being released? It's not showing on the Mint's product calendar??
Most of the Eliza Johnson first spouse products were supposed to have been available the first week in March - and had been listed on the Mint's product schedule through the end of January. I had noticed and questioned the move to TBD status shortly after it happened.
If you'll recall from some of Michael's recent threads, the Johnson art work did not receive the final approvals until the 2nd week of February, thus the delays to manufacturing and distribution.
As one of the several intent on pursuing the first spouse series to the end, I am genuinely concerned about the effect this "hurry up and wait" event is going to have on the quality of this particular issue. Maybe an error coin?
What is the real reason for changing the packaging?
The new design is extremely trite and boring!
Perhaps this move was made in order to rationalize the ridiculous price increase for an already too expensive set!
I have canceled my Mint subscription for the presidential proof series. Are they trying to balance the federal deficit?
I called the US Mint asking for justification for the 2011 increase specifically to the Presidential Dollar roll subscriptions. Their response was disappointing and suggested it was set by the government for packaging the rolls. Is it really worth $46 (shipping included) for a $25 roll? Out of curiosity I cut into one of my rolls and blended it with a roll I got from the bank and headed to the local coin dealer. Albeit, the bank roll was mixed and had a few that were visibly circulated but under magnification my local coin dealer couldn’t tell the difference between 90% of the coins. I feel taken by the Mint again! Part way into the series and prices are unjustly increased. I am still bitter about my collecting interest in Legacy sets shattered by discontinuing production with no explanation. The Mint should be an advocate for collectors not a nemesis. I too like so many others am cancelling my $350+ auto ship subscriptions with the US Mint and am going to take up a different investment. Shame on the Mint! Those who can justify this type of oppressive monopoly scare me.
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