American Liberty, High Relief gold coin on 'back order' after sales top 30,000 within 75 minutes of launch

U.S. Mint says orders taken first day total more than 73.3 percent of maximum 50,000-coin product limit
By , Coin World
Published : 07/30/15
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JULY 31 UPDATE FROM THE U.S. MINT: First day sales totaled 36,686 coins, or 73.3 percent of the maximum authorization. Officials report that  the product is currently on  "Back Order." This means that the item is available to be ordered now, but it is not currently in stock. Additional inventory is being made. Customers can go online to the website and add the item to their cart to see when additional inventory is expected to be available. Also, sales through the U.S. Mint's smartphone mobile app were just over $500,000. In the first 10 minutes of sales, there were 5,231 orders placed (8.72 orders per second).

UPDATE FROM THE U.S. MINT: The Mint's website indicates the coin is "currently unavailable." Adam Stump, deputy director of the Mint's Office of Corporate Communications, said via email at 3:47 p.m. Eastern Time July 30 that, "We are not sold out. We have taken orders for more than 35,000 coins and the website should be updated at some point in the next day that the item will be on backorder."

The United States Mint took orders July 30 for more than 30,000 2015-W American Liberty, High Relief gold $100 coins within 75 minutes of the noon Eastern Time sales launch.

The product limit is 50,000 coins, and each household order is limited to a maximum of 50 coins. The coin is priced at $1,490 each.

Many collectors reported to Coin World that placing orders on the Mint's website was easy, but some problems were encountered by those whose orders totaled $25,000 or more.

"We can’t take an order on a single credit card for more than $25,000," Adam Stump, deputy director of the Mint's Office of Corporate Communications, said via email. "With that said, someone can use multiple credit cards or a wire transfer to buy more coins to get to the household order limit."

Stump added: "As of 1:15 p.m., we had taken orders for more than 30,000 coins. That doesn’t factor in credit card holds or order holds, but the high volume in such a short amount of time shows customers were able to get into the system and complete their order quickly whether it’s an average coin collector or a dealer.

"Everyone has the same opportunity to purchase a coin."

More from CoinWorld.com:

United States Mint reveals how technical team developed 2015 American Liberty, High Relief $100 gold coin

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