December 28th, 2011
Amidst the recent decline in silver prices, the US Mint is getting ready for the release of the 2012 Silver Eagle bullion coins. From the launch of the series back in 1986, collectors and precious metals investors have eagerly looked forward to each newly dated release of the series. In recent years, demand for the latest issue has been pronounced.
According to information found online, the US Mint will begin sales for the coins to authorized purchasers on January 3, 2012. The first chance the authorized purchasers will have to pick up the coins will be January 6, 2012. After that point, distribution to the general public can commence.
As has recently been the trend, many of the 2012 Silver Eagles will likely be sent en masse to coin grading services like PCGS and NGC. Coins which receive the top grade of MS70 sell to collectors for a premium. Some will also seek out the coins which are denoted as "First Strike" or "Early Releases" although the utility of such classifications is suspect.
American Silver Eagle bullion coins are frequently sold individually, by a roll of 20 coins, or in a green monster box containing 500 coins. The larger the quantity purchased, generally the lower the cost per coin.
During 2011, the US Mint sold around 40 million Silver Eagle bullion coins as the market price of the metal jumped from $30 per ounce to nearly $50 per ounce, and then fell to its current levels below $30. Will investor and collector demand prove resilient in the coming year?
Later in 2012, it is expected that the US Mint will offer numismatic versions of the American Silver Eagle, which have also been an annual favorite.
July 3rd, 2011
On June 8th, 2011, House Resolution H.R. 2139 was introduced into the 112th Congress, requiring the Secretary of the Treasury to mint coins in commemoration of the centennial of the establishment of Lions Clubs International, the world's largest service club organization. It was founded in 1917 by Chicago business leader Melvin Jones, and empowers volunteers to serve their communities, meet humanitarian needs, encourage peace and promote international understanding through Lions clubs.
The bill specifies that not more than 400,000 $1 coins in commemoration of the centennial of the founding of the Lions Clubs International, each of which shall weigh 26.73 grams, have a diameter of one-and-one-half inches, and be made from the standard 90 percent silver / 10 percent copper alloy.
The bill also states that the design of the coins shall be emblematic of the centennial of the Lions Clubs International, and include a designation of the value of the coin, the year of its minting, 2017, and the inscriptions of the words "Liberty'', "In God We Trust'', "United States of America'', and "E Pluribus Unum''.
A surcharge of $10 per coin will be added to the final price, which will be paid to the Lions Clubs International Foundation to assist in furthering its programs for the blind and visually impaired in the United States and abroad, investing in adaptive technologies for the disabled and investing in youth and those affected by a major disaster.
The bill was referred to the Committee on Financial Services, where it will be voted on, and if passed there, be sent to the full House for approval. A comparable bill will need to be introduced in the Senate, and if both bills pass their respective chambers, after which it would be presented to the President for signature into law.
June 22nd, 2011
Sales of the 2011 Proof Gold Eagle are off to a much slower start compared to the frenzied activity seen last year. Collectors faced with an expanding US Mint product line and higher issue costs may be making decisions about how to best allocate their collecting budget.
Sales of the individual coins and four coin set began on April 21, 2011. This was many months earlier than the prior year coins, which were offered very late in the year in October. There were no household limits imposed, although there were production limits for each different ordering option. Some of these limits represented increases from the prior year.
In the opening days of sales, customer orders were about half the levels experienced for the 2010 Proof Gold Eagles. This was to be expected since last year's coins were offered following a one year cancellation and lengthy delay during the year.
Through the current date, sales levels have reached almost 17,000 out of a maximum 30,000 individual one ounce coins, about 2,500 out of a maximum 15,000 one half ounce coins, a little under 4,000 out of a maximum 16,000 one quarter ounce coins, and 9,300 of a maximum 30,000 for the one tenth ounce coins. The expensive four coin set has sold 7,431 units out of the maximum 40,000.
Quick sell outs seem to be clearly off the table, although this has not typically been the case for Proof Gold Eagles. Only for a few years when product limits were kept intentionally low were sell outs achieved.
June 10th, 2011
The mintage figures have been released for the Ulysses S. Grant Presidential Dollar. This coin was first released into circulation by the United States Mint on May 19, 2011 as the 18th issue of the series overall.
As remarked frequently on this site, the broader series has experienced a general decline in mintage levels for each subsequent release. This has been briefly interrupted by some releases, which promised an upswing, but the next release would invariably hit another fresh low.
Recently, the coins featuring Abraham Lincoln experienced a big increase, and the next coins featuring Andrew Johnson struck another fresh low.
Ulysses S. Grant marks another blip upwards at 76.02 million coins across the Philadelphia and Denver Mint facilities. This exceeds the mintage of 72.66 million for Andrew Johnson.
The higher numbers could be the result of Grant's greater level of popularity. Since is better known to Americans, the US Mint may have planned higher production in anticipation of higher coin orders from the Federal Reserve Banks.
For the next release featuring Rutherford B. Hayes, the general downtrend may resume.
May 31st, 2011
A little more than two months after the release of the bullion version of the coin, the US Mint began sales of the 2011 Proof American Gold Buffalo for collectors. This is the sixth annual release for the 24 karat gold coin series.
The issue has had a dedicated following due to the use of the popular design. The obverse and reverse are taken from James Earle Fraser's Buffalo Nickel, representing the Type 1 variety issued in 1913. The broader series continued until 1938, when it was replaced with the Jefferson Nickel.
Each 2011 Proof Gold Buffalo contains one troy ounce of .9999 fine ( 24 karat) gold. This was the first offering of the United States Mint to be struck in this level of purity. The popular American Gold Eagle is struck in a purity of 22 karat of .9167.
As the price of gold has risen, the proof Gold Buffalo has become more expensive. Each coin is priced at $1,760. Many collectors will wish that fractional weight versions of the coin were available to provide a lower pricing point. The US Mint did make fractional versions in 2008, but discontinued the offering after only one year.
This one of many coins this year that I will "wait and see". The price of various offerings that I collect has been increasing, leaving less room for series that I have occasionally collected.
