US Coins

2017 Congratulations set sells out in two minutes

The U.S. Mint issued the following update at 10:09 a.m. ET April 5 concerning sales of the 2017 Congratulations set: "Sales attrition from cancellations, returns and credit card declinations could result in a very limited quantity being made available for sale."

The U.S. Mint April 4 ended sales of the limited-edition 2017 Congratulations set within two minutes of its becoming available, triggering a backlash from disgruntled collectors shut out from obtaining one of the 75,000 sets.

The sets went on sale at noon Eastern Time without any household ordering restrictions. Sufficient orders were placed almost immediately to exhaust the maximum mintage, according to the Mint, which, as of late afternoon April 4, had not yet declared the set a “sellout.”

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Mint officials have not disclosed whether they would reopen sales should sets become available because of returns, customer cancellations or cancellations by the Mint because of expired credit cards.

Collector Chris Hale contacted Coin World via email April 4 before 1 p.m. ET, asking “Is there anyway to find out from the U.S. Mint how many individuals/dealers were able to purchase this item?” (See his full letter in Coin World's April 24 edition, Letters to the Editor column.)

One dollar Federal Reserve noteThe fight against the paper dollar has been renewed: Inside Coin World: Newly introduced legislation on Capitol Hill is not the first attack on the paper dollar. Calls for its elimination have been voiced since the 1970s.

Hale told Coin World in an interview that he tried placing his order at 12:02 p.m. ET and received a message advising him to remove his order for five sets because they were no longer available.

Another collector, Henry Bonke, also expressed his displeasure with the Mint’s offering of the numismatic product.

“Less than 3 minutes and sold out,” Bonke wrote via email. “Canceled by the Mint at 3 minutes. I’m through with the U.S. Mint.

“This continued unfair treatment of the collecting community for the profit of a few is testament to their corrupt policies. I used to collect U.S. stamps, but their inattention to the stamp collecting community drove me away. SAME reason here. I will not buy the coin on ebay and I hope other collectors follow my lead.”

A collector from Laguna Niguel, Calif., reported he was able to successfully place an order for four sets.  

Examples of the sets quickly appeared on eBay from sellers with “Buy It Now” options ranging from $110 to $225 per set. The Mint sold the set for $54.95.

The set’s attraction is the Proof 2017-S American Eagle silver dollar.

Collectors will have the opportunity to obtain the coin in another numismatic product to be offered later in the calendar year by the U.S. Mint.

The regular annual Proof American Eagle silver dollar in recent years has been struck at the West Point Mint with the W Mint mark. The Proof 2017-W American Eagle went on sale on March 23 at $53.95 per coin, with no product limit or household ordering restrictions.

Second opportunity

Collectors will have a second opportunity to obtain the Proof 2017-S American Eagle silver dollar in 2017 when the coin is included in the 2017 Limited Edition Silver Proof set.

Details on the 2017 Limited Edition Silver Proof set — including pricing, product limit and household ordering limits, if any — have yet to be disclosed by the Mint.

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