US Coins

U.S. Mint numismatic product sales fell in FY 2016

By Paul Gilkes

Published: Feb 24, 2017, 4 AM

Silver coin product sales by the U.S. Mint during FY 2016 were 54.3 percent lower than in FY 2015, partially because of a late release of the Proof and Uncirculated 2016-W American Eagle silver dollars, delayed by the addition of congressionally mandated 30th anniversary edge lettering.

Original images courtesy of U.S. Mint.

Numismatic product sales by the U.S. Mint during Fiscal Year 2016 dropped 22.6 percent from the 2015 figures, with numismatic revenue dropping 8.8 percent over the same time frame.

The federal fiscal year runs from Oct. 1 to Sept. 30. Fiscal Year 2016 ended Sept. 30, 2016.

The Mint’s numismatic products line includes all commemorative coins, certain gold coins, special collector versions of its bullion coins, annual sets, circulation-quality coins sold at premium prices, medals, and other related items.

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According to the Mint’s just-released 2016 Annual Report, FY 2016 sales of all numismatic products totaled 4,159,000 units, generating sales revenue of $413 million. This compares with FY 2015 sales of 5,379,000 units and revenue of $453.2 million, and FY 2014, with 5,725,000 numismatic product units sold, generating revenue of $504.2 million.

Silver coin product sales in FY 2016 were significantly lower than FY 2015 because of the late release of Proof and Uncirculated 2016-W American Eagle silver dollars bearing the 30th anniversary edge inscription. The Uncirculated version was released in December 2016, during FY 2017, while the Proof version was released Sept. 16, just two weeks before the close of FY 2016.

Silver coin product sales reached 656,000 units in Fiscal Year 2016 compared with 1,436,000 units in Fiscal Year 2015 and 1,222,000 in Fiscal Year 2014.

Combined sales of annual sets — Proof set, Silver Proof set and Uncirculated Mint set — reached 1,278,000 units in FY 2016 compared with 1,403,000 in FY 2015 and 1,477,000 in FY 2014.

Additional numismatic products containing America the Beautiful quarter dollars totaled 503,000 units in FY 2016, compared with 512,000 in FY 2015 and 573,000 in FY 2015. Sales of Presidential and First Spouse Medal products reached 808,000 units in FY 2016, compared with 1,067,000 in FY 2015 and 996,000 in FY 2014.

Total commemorative coin sales for all programs in FY 2016 reached 289,000, compared with 479,000 in FY 2015 and 918,000 in FY 2014. Most of the FY 2014 commemorative sales were from the National Baseball Hall of Fame commemorative coin program, which recorded sellouts of the gold $5 and silver dollar options and a significant number of the copper-nickel clad half dollars offered.

The only numismatic product category recording a sales increase was the gold and platinum coin products. FY 2016 combined sales reached 332,000 units, compared with 169,000 in FY 2015 and 197,000 in FY 2014. The FY 2016 sales included the gold versions of the 2016-W Winged Liberty Head dime, Standing Liberty quarter dollar and Walking Liberty Half dollar.

Artist portal

During the second quarter of Fiscal Year 2016, the U.S. Mint successfully launched an online portal over which the bureau can conduct coin design competitions and issue calls for artists under its Artistic Infusion Program.

According to the U.S. Mint’s 2016 Annual Report, the Artist Portal “provides public information about the competitions, facilitates artist interactions, and enables judges from the Citizens Coin Advisory Committee and the Committee of Fine Arts to receive and score submissions in a secure online environment.”

The portal made its debut in February 2016, with the Mint’s 2018 World War I American Veterans Centennial Silver Dollar Commemorative Coin design competition. The portal has also been used to support the 2018 Breast Cancer Awareness Commemorative Coin design competition.