March 3rd, 2011
Who will buy the 2011 Presidential Dollar Proof Set? The individual offering containing the proof versions of the four $1 coins issued during the year for the Presidents has lost some of its relevance.
This year, the US Mint released the 2011 Proof Set in mid January. This was a positive change for collectors who were used to waiting until mid-year or later for the popular annual set to be released. However, it threw off the dynamics and perhaps the main marketing point of the separate proof sets which have generally been issued first.
Last year, I bought the 2010 Presidential Dollar Proof Set just to get an earlier look at the Abraham Lincoln Presidential Dollar. Since I was getting the full set later, this set became redundant and I actually just gave it away as a gift.
This year, the incentive of getting coins earlier has gone away. Also, following a price increase, the 2011 Presidential Dollar Proof Set is $19.95. I will definitely pass on this offering, as I suggest other collectors will.
(In case anyone is wondering, the image is from the 2011 Presidential Dollars included in my full annual set.)
March 1st, 2011
My 2011 Mint Set arrived from the United States Mint a few days ago. This year's set represents a big shift from recent years as the finish of the coin has been changed from satin like to brilliant.
From 2005 to 2010, the satin finish was used for set. For the first couple of years, coins included in the sets were immaculate and made ended up grading MS69 at the major grading services. Certain of the State Quarters are so abundant in this top grade that the premium is very small.
At some point, it seems that the US Mint may have changed their packaging procedure or coin handling procedure, which resulted in more coin on coin contact. This type of contact left a lot of marks on the coins and correspondingly the average grade and general eye appeal of coins included in Mint Sets declined.
This was not without something of a silver lining. Coins that had managed to escape contact marks and grade MS69 were in the distinct minority from perhaps 2008 onwards. This meant that some diligent searching could uncover top grade coins worth a nice premium.
Well, the mechanics of Mint Set collecting have changed again. The new brilliant finish most likely won't be differentiated from circulation strikes. That means high grade circulation strike coins will be easier to find (lower premiums), and the great satin finish experiment will have concluded, creating short sets of 2005 to 2010 across the various denominations.
March 1st, 2011
The US Mint has indicated the preliminary production figures for the Gettysburg National Military Park Quarter. If no further coins are produced, this will be the lowest mintage of the new quarter program for the series to date.
The Philadelphia Mint struck 30.4 million coins and the Denver mint struck 30.8 million coins. That makes for a combined total of 61.2 million.
The previous mintage low for the America the Beautiful Quarters Program was held by the Yellowstone National Park Quarter, which had a combined circulation mintage of 68.4 million.
It's possible that the US Mint might make more Gettysburg Quarters before the end of the year, or that other 2011 issues will have even lower mintages. This makes the current low figures less important, although on a historical basis, this is a fraction of the typical circulating coin production for the quarter.
February 28th, 2011
Even though the denomination has not been issued for ten years, the US Mint continues to strike Kennedy Half Dollars to meet the needs of collectors. On February 15, 2011, sales of the collector bags and rolls of the 2011 half dollars began on the Mint's website.
Featuring the same design since the launch of the series, the obverse of the 2011 Kennedy Half Dollar features a portrait of John F. Kennedy by Gilroy Roberts and the reverse features the Presidential Seal designed by Frank Gasparro. The coin was initially struck in 90% silver, which was reduced to 40%, and eliminated after 1970.
The circulation strike coins included in the US Mint's bags and rolls are only issued through this channel. The US Mint strikes 2011 Kennedy Halves in proof version and 90% silver proof version for inclusion within annual sets. The US Mint also strikes coins with a brilliant finish for the 2011 Mint Set.
The US Mint issue price is $134.95 for 200-coin bags containing 100 coins from each mint facility. The two roll sets, containing 20 coins each from the Philadelphia and Denver Mint are $34.95 each.
February 22nd, 2011
The 17th release in the Presidential Dollars series was launched last week to honor Andrew Johnson. The US Mint marked the event by holding a launch ceremony at the Andrew Johnson National Historic Site in Tennessee.
In line with the format of the series, the obverse of the coin features a portrait of the President. Under the authorizing legislation, this is supposed to be a "larger and more dramatic artwork... reminiscent of the so-called 'Golden Age of Coinage' in the United States." Although a lofty endeavor, I don't think you can do much with a portrait of a historical figure.
The reverse features the statue of Liberty, which is the common design used across all issues of the series. The face value of the coin is expressed as "$1".
The official circulation release date for the Andrew Johnson Presidential Dollar is February 17, 2011. The US Mint will issue their numismatic rolls tomorrow on February 23.
The coins may not be circulating with abundance, but at least one of the aims of the series has been accomplished. I can name the 17th to 20th Presidents of the United States, highlighting the educational benefit.
