New Products, Sold Out Products, Gold Coin Surges at U.S. Mint
Posted by Adam King on November 21, 2012
United States Mint weekly numismatic sales reports continue to show increased activity and sales surges as the end of the year fast approaches. As of the latest report, a number of new products have made a debut with more existing products selling out entirely or concluding sales.
The spot price of gold dropped 0.1 percent to $1,725.78 per troy ounce in early Wednesday trading as a drop in the euro affected gold markets. U.S. gold futures for December delivery gained 0.15 percent to $1,726.10 per troy ounce.
Sales at the U.S. Mint continue a flurry of activity, almost irrespective of the fluctuations in the spot price. The uncirculated version of the 2012 Star Spangled Banner $5 Gold Coin experienced a surge in sales. On November 15, 2012, the U.S. Mint initiated sales of circulating quality Grover Cleveland (Second Term) Presidential Dollars. Available products included 25-coin rolls, 100-coin bags, 250-coin boxes, and 500-coin boxes from either the Philadelphia or Denver Mint. All the options available totaled sales of 3,659,650 coins.
The biggest sellers by unit volume were the 25-coin rolls though the 250-coin boxes brought about the most in terms of number of coins sold. Opening figures from the previous release for Benjamin Harrison are up to 3,418,150 coins, down from Grover Cleveland (First Term) Dollars, which opened at 3,758,025 coins.
Many products have sold out since the last sales report was issued. The individual one-half ounce 2012 Proof Gold Eagle recently reached a cumulative sales figure of 3,948 in the last reported sales, but has now sold out entirely. The coin remains as part of the four coin proof set, however, but as an individual coin it is sold out. The 100-coin bags for the circulating quality Chaco Culture national Park Quarters and Hawaii Volcanoes National Park Quarters possessing the S mint mark have both sold out. The Mint had previously indicated these products would remain available for one year from the original release date.
Uncirculated 2012-W Star Spangled Banner $5 Gold Coins experienced a surge in sales with weekly orders reaching 1,131 and the cumulative sales total reaching 6,257. The coin has been watched closely as until recently sales levels suggested the final mintage might be one of the lowest for a modern commemorative gold coin.
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US Gold Market
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