Quick US Mint News Updates
There are a number of recent developments related to US Mint numismatic products that I wanted to cover. As in the past, I will provide a quick update of various items within a single post.
Numismatic Gold Product Price Increase
Based on the average London Fix prices since last Thursday, it is likely that the prices for US Mint numismatic gold products will be increased on tomorrow. This excludes the commemorative gold coins, which are not subject to the pricing policy that allows weekly adjustments.
The price of the 2010 Proof Gold Buffalo would be increased from $1,660 to $1,710 per coin. The prices for available First Spouse Gold Coins would be increased from $854 to $879 for proof coins and from $841 to $866 for uncirculated coins. These will represent the highest prices on record for each of the offerings.
A price increase would be avoided if the Wednesday PM London Fix price of gold is below $1,400 per ounce.
2010 America the Beautiful Quarters Silver Proof Set
In a recent post, I provided figures on the silver content and values of US Mint products, highlighting the fact that for certain products the melt value was approaching the issue price.
Based on the current market price of silver, the silver value of the five 90% silver quarters included in the 2010 ATB Quarters Silver Proof Set is now $31.37. This compares to the last available product price of $32.95.
A reader reported on Sunday evening that the US Mint had changed the status of the 2010 America the Beautiful Quarters Silver Proof Set to "This product is temporarily unavailable."
In all likelihood, the US Mint has suspended sales in order to adjust the product price. Annual sets and commemorative coins are not covered by the US Mint's pricing policy, which allows weekly adjustments to be made. Rather new prices are established through publication within the Federal Register, which can take several weeks to occur.
Eliza Johnson First Spouse Gold Coin
Before the end of the last year, the US Mint provided release dates for nearly all 2011 numismatic products. The Eliza Johnson First Spouse Gold Coin was listed with a release date of March 3, 2011. The product schedule currently on the US Mint's website shows the coins listed as "TBD".
Release dates provided on the US Mint's scheduled product listing are always subject to change. In several prior instances the release dates for First Spouse Gold Coins have been delayed with no explanation provided.
For this situation, the delay might be due to the fact that the US Mint provided a second set of design candidates to the CFA and CCAC, following criticism of the initial candidates. This extended period of time needed for the design selection stage may have delayed subsequent steps.
It is very disheartening for collectors of the series to endure the delay, while prices move upwards.
Medal of Honor Commemorative Coin Sales
The new weekly US Mint numismatic sales report contains the debut figures for the 2011 Medal of Honor Commemorative coins, as well as several other newly released products.
From February 25 to February 27, 2011, the US Mint sold 4,699 proof $5 gold coins and 1,890 uncirculated gold coins, for a total of 6,589. Sales of the silver dollars were 25,156 proof coins and 10,346 uncirculated coins for a total of 35,502.
These numbers are below the initial sales levels of the 2011 U.S. Army Commemorative Coins. This may be due to the fact that the initial sales period for the Army coin program covered nearly a full week, while the Medal of Honor coin sales cover just two days.
Sales figures for both of these program will bear watching throughout the rest of the year. The authorizing legislation for each program allows the coins to be issued only during the 1-year period beginning January 1, 2011 (or until the maximum authorized mintage has been sold). The US Mint typically pre-announces a sales ending date in mid-December to allow time for order processing and delivery before year-end.
View the numismatic product sales report on Coin Update News.
Labels: US Mint