U.S. Mint experiencing ups and downs with Enhanced Uncirculated Coin set sales

Orders appear to be canceled, product returned, dropping totals
By , Coin World
Published : 08/16/17
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Sales by the United States Mint of its 10-piece 2017-S Enhanced Uncirculated Coin set are currently in a yo-yo pattern.

Figures released Aug. 16 by the Mint indicate 214,345 sets were recorded sold. That is a decline from the previous week’s figures, when, as of Aug. 8, sales stood at 220,397 sets.

The numismatic product went on sale Aug. 1 at $29.95 per set, with no household ordering limits for online and telephone orders.

In total, 225,000 sets were made available through all ordering venues, with the number of sets available chosen to reflect its release as one of the Mint's 225th Anniversary products for 2017.

Within minutes, online sales of the sets Aug. 1 were sufficient to exhaust the undisclosed number of sets remaining available for online and telephone sales.

When orders are placed by telephone, they must then be entered into the Mint's online ordering system by PSFweb’s ordering processing operations in Texas. When sufficient orders were received, the product went into “Currently Unavailable” status.

New information on the 1866-S No Motto coins: Also in our last weekly issue of the month, John Kraljevich Jr. goes into what George Washington's ledger revealed, including how many gold doubloons he had on hand.

Thousands of sets were also sold by the U.S. Mint Aug. 1 at contracted sales centers at the Denver and Philadelphia Mints and the sales outlet at Mint headquarters in Washington, and Aug. 1 to 5 in Denver during the American Numismatic Associaiton World’s Fair of Money.

After 24,000 sets were sold during the ANA, additional sets were delivered to the convention and put on sale Aug. 3. The additional sets were from orders not shipped because of cancellations.

In fact a number of sizeable orders, including one for 20,000 sets, were canceled either by the buyers, or by the Mint, for a variety of reasons, including problems with credit cards used for payment.

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The sets went back on sale online as well on Aug. 3 and remained on sale until the status changed to “Currently Unavailable” on Aug. 14. As of Aug. 16, sets were again available and the product was back on sale.

Second market

Prices received in some secondary market sales have begun to drop.

Some completed online sales via eBay for sets still in their original Mint packaging realized just a few dollars above issue price and included free shipping.

Sets graded and encapsulated by Numismatic Guaranty Corp. with all 10 coins graded as Specimen 70 and First Day of Issue or bearing ANA convention grading labels sold in a range from just under $230 to just over $275.

NGC Specimen 70 examples of coins from sets are also being sold individually. Some examples of completed eBay sales are $88.99 for an Specimen 70 red 2017-S Lincoln cent, $11.55 for a Specimen 70 First Release 2017-S Roosevelt dime, $25 to $30 for Specimen 70 2017-S American the Beautiful quarter dollars, $42.22 for a Specimen 70 First Release 2017-S Kennedy half dollar, and $43.86 for a Specimen 70 First Release 2017-S Native American dollar.

One NGC Specimen 70 First Release set of all five quarter dollars offered in the 10-coin numismatic product sold for $192.50. Completed sales for Professional Coin Grading Service Specimen 70 First Strike 2017-S Jefferson 5-cent coins ranged from $17.50 to $32.

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