Enhanced Uncirculated Coin set nears sellout
- Published: Aug 14, 2017, 4 AM
The 2017-S Enhanced Uncirculated Coin set was inching toward a sellout Aug. 10, with the latest sales report from the U.S. Mint recording 221,479 sets sold, from a maximum authorization of 225,000 sets.
The set went on sale Aug. 1, and sales ended in less than 10 minutes, when its status was changed to “currently unavailable.”
However, more than 20,000 sets became available for sale through order cancellations, and sales were resumed Aug. 3.
The mintage limit is tied to the product being one of several special numismatic issues marking the U.S. Mint’s 225th anniversary of 2017.
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The sets are offered from the Mint at $29.95 each, with no household ordering limits. The set comprises the 10 coins from Lincoln cent through Native American dollar, including the five America the Beautiful quarter dollars for 2017.
Struck at the San Francisco Mint, each of the Enhanced Uncirculated coins exhibits a mixture of elements with Proof polishing and laser frosting.
The U.S. Mint as of Aug. 10 was still reconciling orders so as to report a breakdown of sales online, by telephone and at in-person sales venues.
The sets officially went on sale from the U.S. Mint online, by telephone and at sales centers at the U.S. Mint headquarters in Washington, D.C., and at contracted sales outlets at the Philadelphia and Denver Mints, at noon Eastern Time Aug. 1.
The sets were also offered beginning at 1 p.m. Mountain Time (3 p.m. ET) at the American Numismatic Association World’s Fair of Money in Denver.
More than 24,000 sets were sold at the convention in just over five hours.
A smaller, undisclosed number of sets were offered at the three other sales outlets. An undisclosed number of sets were still being offered at the Mint headquarters sales outlet Aug. 10, according to U.S. Mint spokesman Michael White.
While enough orders were placed in under 10 minutes from the start of sales Aug. 1 to exhaust the undisclosed number of sets available online and by telephone, sales were resumed Aug. 3 after cancellation of some orders put thousands of sets back on sale before the sets were ever shipped to the customers who first ordered them. A Mint official present at the ANA convention said that one canceled order from a dealer totaled 20,000 sets, or about 8.9 percent of the total number of sets offered.
Resale prices for the initial sets sold, still in their original Mint packaging, especially for those where collectors, dealers and speculators could have the sets in hand immediately after purchase, quickly rose to double or triple the original Mint price.
Initial increases for sets still in original packaging retracted when canceled orders resulted in undelivered sets being put back on sale by the Mint for online and telephone sales.
Sellers at eBay have recorded completed sales for originally packaged sets at prices only a few dollars above the Mint’s price for the sets, and the eBay prices included free shipping.
Numerous eBay auctions offering the sets have closed without registering a sale.
A number of completed sales are recorded at just under $275 for Numismatic Guaranty Corp.-graded sets where each coin is encapsulated with Early Release labels with each coin graded Specimen 70.
Completed sales were also recorded for Professional Coin Grading Service encapsulated sets of Specimen 70 coins, with a variety of labels, in the $500 range.
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