CoinNews "US Mint Sales: 2024 Proof Set Hits 286,000 After Just Over Six Months" *Mint Stats incl.*
Goldbully
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It appears that the 30% discount sale from the Mint had a big impact on current sales.
Extensive Mint stats for Sept. 16 to Sept. 22 in below link.
US Mint Sales: 2024 Proof Set Hits 286,000 After Just Over Six Months
By
Mike Unser -
September 24, 2024
U.S. Mint sales were elevated last week, aided by a customer appreciation promotion offering up to 30% off select products. Still, the main highlights for collectors in the Mint’s latest figures are likely the 2024-S Proof Morgan and Peace Silver Dollars, which saw their first full week of results.
The pair initially opened with a four-day total of 353,901 coins, split between 185,542 Morgan dollars and 168,359 Peace dollars. In the first week following their debut, their combined total increased by 17,767 to 371,668 coins, with updated figures of 194,394 (+8,852) for the Morgan dollar and 177,274 (+8,915) for the Peace dollar. The individual options saw stronger gains compared to the 40-coin bulk options, though the difference was relatively small.
Although the appreciation promo lifted many older products to the top of the Mint’s weekly sales, with the new Morgan and Peace dollars also among them, the 2024 Proof Set led the pack, increasing by 6,612 to reach 286,884 after just over six months on the market. The just-over-six-month mark of this year’s Proof Set is an ideal point to examine how the 2023 Proof Set performed during its own first six months. Sales for the 2023 set were much stronger, outpacing this year’s by more than 81,000, with a total of 368,534.
This CoinNews photo shows a clad U.S. Mint 2024 Proof Set. The set was the Mint’s top weekly seller
U.S. Mint Top Sellers
Here is the roster of the U.S. Mint’s most sought-after numismatic products for the week ending on Sept. 22:
2024 Proof Set (+6,612 to 286,884) 2022-W Uncirculated Silver Eagle (+6,103 to 170,703) 2024-S Proof Morgan Silver Dollar (+5,052 to 182,754) 2024-S Proof Peace Silver Dollar (+4,635 to 165,634) 2018-W $10 American Liberty Gold Coin (+3,206 to 68,584) 2021 Silver Proof Set (+1,486 to 305,289) 2019 Silver Proof Set (+1,475 to 415,365) 2021 American Innovation Dollar Proof Set (+1,413 to 88,426) 2020 American Innovation Dollar Proof Set (+1,340 to 108,407) 2019 American Innovation Dollar Proof Set (+1,340 to 149,892)
In its latest report, the U.S. Mint published sales data for 491 numismatic products. The data revealed that 96 products outperformed their sales from the previous week, compared to 112 in the prior report. Fourteen products experienced a week-over-week increase of more than 1,000 units, compared to 3 in the previous report.
In addition, six products posted negative weekly sales, compared to none — a rarity — in the previous report. Four of the five 2024 quarter ornaments saw losses ranging from 61 to 66 each, while the 2024 Mint Set sharply declined by 9,850.
US Mint Sales: Numismatic Products
Below are tables showing the latest available sales for U.S. Mint numismatic products. The sales period covers from Sept. 16 to Sept. 22. Products with an asterisk (*) are no longer available or had no reported sales.
Comments
They’re still selling coins from 5-6 years ago?
Nothing is as expensive as free money.
I'm sure @NJCoin can shed some light on this Mint policy. ☺️
Sure! Other than commemoratives, which, by legislation, can only be sold in the year of issue (likely in order to not compete with subsequent coins in subsequent years, and to be able to close the books on the money due to the recipient organizations), anything the Mint makes the Mint can keep on sale as long as it has stock. Or melt or otherwise destroy, at its discretion.
They cannot mint new stock after the year of issue, but they are not restricted in what they can sell, once it has been minted. Just take a gander at their website. You will see a ton of unsold stock, for all sorts of items. Some of it going back many years.
Just realize that the bumps you are seeing in the latest report are merely the result of the Customer Appreciation Sale, which we all already knew about, so nothing in there should be a surprise.
Thanks for the info, @NJCoin
I would have thought that they’d liquidate excess inventory through wholesalers (or by melting if gold/silver) rather than carry it for 5+ years with rapidly dwindling sales rates.
Nothing is as expensive as free money.
Nope. It's the government. If they developed a practice of bulk discount liquidations, wholesalers would be conditioned to wait for them, and it would eat into initial sales.
Since it's the government, they don't really run it like a business, and can afford to sit on it forever. When they do decide to liquidate, at least they are fair, and make it available to everyone through vehicles like the recent Customer Appreciation Sale.
Any idea if the upcoming gold Flowing Hair is designated as commemorative?
If not then it could be stocked and offered cheaper with any lower gold prices.
"Designated"? No, that's a debate we like having here, but actual commemoratives are sponsored by some non-profit that receives the proceeds from a surcharge.
That's not these. These are an offshoot of the American Liberty series. Specifically to commemorate the 230th anniversary of America's first silver dollar. Hence the "230" privy mark.
The Mint has shown absolutely no interest lately in stocking or offering anything "cheaper." The silver medal is being offered at a premium to even the elevated prices being charged for the Morgan and Peace Dollars. DO NOT look for any bargains here.
The mintages will be limited, and the prices will be at a premium. Look for these to be priced slightly above whatever is on the grid for the American Liberty coins. The silver version is going to be $104 while the silver American Liberty medal is $97, and burnished ASEs go for $91, with silver trading around $32 per ounce.
I'd expect a similar premium for the gold. If I had to bet, I'd say look to the pricing for the Liberty & Britannia coin, which would currently put this at $3,670. How many you want at that price? Strict limit of 5 for the first 24 hours. Think it'll sell out at that premium, with a mintage of around 10K?
—->“ The Mint has shown absolutely no interest lately in stocking or offering anything "cheaper."
Metal prices have run hard. If future price of gold drops the pricing grid would reflect lower predetermined pricing. Any remaining stock lingering could be greater or lower than initial pricing. My concern would be buying at the initial $3500-$3600 area and if gold backed off next year the unsold mintage available cheaper