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Gone in 120 seconds

The apparent two-minute sellout April 4 of the 2017
Congratulations set left the U.S. Mint in the position, once again, of not
being able to please everyone.
And it’s not likely that position will change with any
future limited-edition offerings.
Sufficient orders were placed within the first two
minutes of the noon Eastern Time offering of the 75,000 sets containing a San
Francisco Mint-struck Proof 2017-S silver American Eagle to fulfill the maximum
number of sets available.
Unlike the 2017 set, Congratulation sets from 2012
through 2016 contain West Point Mint Proof strikes of the silver American
Eagle.
The 2017 Congratulations set was offered by the U.S.
Mint for $54.95, just $1 more than is being charged for the single 2017-W Proof
silver American Eagle that went on sale March 23 without production limits or
ordering restrictions.
The Congratulations set is a numismatic product the
U.S. Mint offers as a gift-giving option.
One would have to live under a rock not to know that
silver American Eagles, especially the Proofs, are likely the most popularly
collected numismatic product the U.S. Mint offers.
Demand was anticipated to be strong for the 2017
Congratulations set, and more so because the set was a limited edition.
Add to that the fact the U.S. Mint did not impose any household
order limits, the issue was bound to sell out quickly.
But in two minutes? Unbelievable.
The secondary market price for the 2017 set has
doubled at minimum. Those able to capitalize are those who were successful in
getting their orders accepted and confirmed during the miniscule window of
opportunity and immediately shipped.
Collectors of Proof silver American Eagles, and
speculators, will have a second opportunity later in 2017 to obtain a Proof
2017-S silver American Eagle that will be included in the 2017-S
Limited-Edition Silver Proof set.
The release date, product limit, and pricing for that
set has not yet been announced, but demand is also expected to be high for that
option as well.
The U.S. Mint is in the business of making money, no
pun intended.
This may sound like a broken record, but the U.S. Mint
should consider a household ordering limit of two sets, at least for the first
two weeks, then lift the restrictions.
This will open availability to more customers, and
lower the number of potential disgruntled hobbyists should they get shut out of
ordering a set.
No matter what the Mint chooses to do, somebody’s
going to be unhappy.