U.S. Mint to produce more American $1 Coin & Currency sets
- Published: Dec 4, 2014, 3 AM
Latest update: Sales of the 2014 American $1 Coin & Currency set resumed at approximately 7:30 a.m. Eastern Time on Dec. 4. Please see the article below for a recap of the changing availability of the limited edition set.
Confusion resulted Dec. 3 after the U.S. Mint resumed sales of the 2014 American $1 Coin & Currency Sets, and then took the set back off sale after a brief period of activity.
The set contains an Enhanced Uncirculated 2014-D Native American dollar coin and a Series 2013 $1 Federal Reserve note. The fact that the Native American dollar bears an Enhanced Uncirculated finish and is the first in the series to bear the wire-brushed and laser-frosted details was not divulged by the Mint in its original promotional material prepared for the set.
Collectors learned of the Native American dollar bearing the Enhanced Uncirculated finish by viewing Mint images of the set and subsequently disseminated that information through a number of collector online discussion forums, causing a rush in orders to the Mint to obtain the $13.95 set. The nation’s coin producer ceased sales of the sets on Dec. 1, changing its status to "out of stock," after exhausting its available inventory. As of Dec. 2, the U.S. Mint reported sales of 14,073 of the sets.
Depletion of the existing inventory is believed to have been the result of collectors suddenly learning that the set's 2014-D Native American dollar coin bears an Enhanced Uncirculated finish and is available only in the set.
At approximately 3 p.m. Eastern Time Dec. 3, the set was placed in “back order” status and new orders were being accepted. Some collectors reported they were able to order the sets. However, not long after sales were resumed, the Mint removed the "Add to Bag" order button for the set and changed the set's status to both "out of stock" and on "back order."
As of 6 p.m. Eastern Time Dec. 3, Mint officials had not responded to Coin World's inquiries about the second cessation of sales for the set.
In announcing the resumption of sales, U.S. Mint officials said Dec. 3 that the bureau plans to produce the maximum authorization of 50,000 sets.
“We did not anticipate such high demand, but are very pleased that so many of our customers are interested in the set because of the Native American $1 Coin,” Mint spokesman Michael White said Dec. 3 in announcing the resumption of sales.
Along with the Enhanced Uncirculated 2014-D Native American dollar coin, the set contains a Series 2013 $1 Federal Reserve note.
There are no household ordering limits for the set.
White said disclosure of the Enhanced Uncirculated finish on the Native American dollar coin was inadvertently omitted from the initial product description. The information is, however, part of the certificate of authenticity printed on the set’s packaging.
The information appears on the third panel of the tri-fold packaging, below the specifications for the note and coin.
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