SF Mint striking circulation quality 2012-S cu-ni quarters
CaptHenway
Posts: 32,227 ✭✭✭✭✭
According to Coin World Online, the San Francisco Mint is striking 1.4 million circulation quality quarters of each of the five ATB designs with the S mint mark. They will only be sold in rolls and bags at a premium later in the year.
What do you all think of this? Are your albums now obsolete?
TD
What do you all think of this? Are your albums now obsolete?
TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Box of 20
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>Kind of screws up what should be in the mint sets, methinks. >>
Yep! Like the 1979 Mint Set with no S-Mint Suzy!
It is nice they are using mintmarks for coins struck in SF. They should do the same for the ASEs.
If they start only minting/selling presidential dollars at a premium to face, or issue new stuff like this, I pass.
(I still expect to find both in circulation someday)
Liberty: Parent of Science & Industry
Whoever is coming up with these ideas should look at what excessive issues of postage stamps did to that market. The tale of the farmer who killed the goose who was laying the golden eggs has grain of truth in it.
What is the big deal?
Successful BST xactions w/PCcoins, Drunner, Manofcoins, Rampage, docg, Poppee, RobKool, and MichealDixon.
So they are making 35,000 rolls of these potentially.
Not a big deal.
If you have no interest in these you probably have no interest regardless of what they do, ignore them.
I see it no different then the Kennedy halves which they keep making.
Not in a mint set, oh well. They will have 1.4 million for collectors, not a big deal.
If the mintage is restricted to 1.4 million per design, and pricing is the same as the P and D rolls and bags, I predict a first day sellout. If there are no household limits, the coins could easily sell out in less than an hour and overwhelm the Mint's website. It would take less than $3 million to purchase the entire mintage at current roll and bag prices.
Consider that the "S" quarters would cost consumers less than 35 cents each when purchased in 100-coin bags. Then check out the current price of the 1996-W dime, which also has a mintage of 1.4 million, was never struck for circulation, and routinely sells on eBay for upwards of $10 per coin.
There is no way the "S" mintage will remain at 1.4 million per design, unless the Mint sets the initial offering price much higher than the price of the P and D rolls and bags.
My Adolph A. Weinman signature
<< <i>This has the makings of another speculative frenzy, similar to the 2011 25th Anniversary Silver Eagle set.
If the mintage is restricted to 1.4 million per design, and pricing is the same as the P and D rolls and bags, I predict a first day sellout. If there are no household limits, the coins could easily sell out in less than an hour and overwhelm the Mint's website. It would take less than $3 million to purchase the entire mintage at current roll and bag prices.
Consider that the "S" quarters would cost consumers less than 35 cents each when purchased in 100-coin bags. Then check out the current price of the 1996-W dime, which also has a mintage of 1.4 million, was never struck for circulation, and routinely sells on eBay for upwards of $10 per coin.
There is no way the "S" mintage will remain at 1.4 million per design, unless the Mint sets the initial offering price much higher than the price of the P and D rolls and bags. >>
Interesting note on the 1996-W dimes Overdate. I wonder where these will end up.
<< <i>im happy with just the way things are. the mint lately has been unreal and i try to stay away from it and the new stuff >>
Does the mint test it's employees for drug use before they come up with some new idea?
This are getting a bit weird. Maybe we need to have Kennedy halfs with an S. Why not throw in some O or CC mint marks also.
<< <i>
<< <i>This has the makings of another speculative frenzy, similar to the 2011 25th Anniversary Silver Eagle set.
If the mintage is restricted to 1.4 million per design, and pricing is the same as the P and D rolls and bags, I predict a first day sellout. If there are no household limits, the coins could easily sell out in less than an hour and overwhelm the Mint's website. It would take less than $3 million to purchase the entire mintage at current roll and bag prices.
Consider that the "S" quarters would cost consumers less than 35 cents each when purchased in 100-coin bags. Then check out the current price of the 1996-W dime, which also has a mintage of 1.4 million, was never struck for circulation, and routinely sells on eBay for upwards of $10 per coin.
There is no way the "S" mintage will remain at 1.4 million per design, unless the Mint sets the initial offering price much higher than the price of the P and D rolls and bags. >>
Interesting note on the 1996-W dimes Overdate. I wonder where these will end up. >>
The two issues are not exactly synonymous. The only way to get a 1996-W dime is to break up a 1996 Mint Set. The remaining coins cannot be sold as a complete Mint Set. This helps support the retail price of the single dime.
The 2012-S circulation strike quarters will be sold by the 40-coin roll (plus larger bags), and dealers can break up the rolls and bags without having a lot of leftover coins from busted sets.
<< <i>
<< <i>
<< <i>This has the makings of another speculative frenzy, similar to the 2011 25th Anniversary Silver Eagle set.
If the mintage is restricted to 1.4 million per design, and pricing is the same as the P and D rolls and bags, I predict a first day sellout. If there are no household limits, the coins could easily sell out in less than an hour and overwhelm the Mint's website. It would take less than $3 million to purchase the entire mintage at current roll and bag prices.
Consider that the "S" quarters would cost consumers less than 35 cents each when purchased in 100-coin bags. Then check out the current price of the 1996-W dime, which also has a mintage of 1.4 million, was never struck for circulation, and routinely sells on eBay for upwards of $10 per coin.
There is no way the "S" mintage will remain at 1.4 million per design, unless the Mint sets the initial offering price much higher than the price of the P and D rolls and bags. >>
Interesting note on the 1996-W dimes Overdate. I wonder where these will end up. >>
The two issues are not exactly synonymous. The only way to get a 1996-W dime is to break up a 1996 Mint Set. The remaining coins cannot be sold as a complete Mint Set. This helps support the retail price of the single dime.
The 2012-S circulation strike quarters will be sold by the 40-coin roll (plus larger bags), and dealers can break up the rolls and bags without having a lot of leftover coins from busted sets. >>
That's what I was thinking as well, but you have the benefit of knowledge as you have been a coin dealer in the past and know the thinking behind many practices.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
That actually makes the case for the 2012-S quarters even more compelling.
The price of a coin is ultimately driven by end-user demand. In the case of the 1996-W dime, the principal end users are Mint Set collectors and Roosevelt dime collectors. For each of these end users, a single 1996-W dime will satisfy their demand.
Now let's look at the 2012-S quarters. The principal end users will be ATB quarter single coin collectors, ATB quarter roll collectors and ATB quarter bag collectors. For single-coin collectors, one example of each design will suffice. However, each roll collector will require 40 coins of each design, and each bag collector will require 100 coins of each design, to satisfy their collecting preferences. It won't take many roll and bag collectors to boost end-user demand far beyond the demand that exists for the 1996-W dime. And don't forget the speculators.
Even if I'm way-out optimistic on the demand for these coins, the decision to buy quantities of a 1.4 million mintage modern quarter for 35 cents each is a low-risk, high-reward no-brainer IMO. I would be willing to max out a credit card or two if given such an opportunity.
I think that ultimately the Mint will either increase the projected mintage of these coins or raise the initial offering price beyond the price of their P and D cousins. If they don't, I predict that a 25th Anniversary Set frenzy will occur on the Mint's web site once again. It took less than six hours for the Mint to sell $30 million worth of the 2011 Silver Eagle sets. It should take a much shorter time to sell $3 million worth of 2012-S quarters in rolls and bags.
My Adolph A. Weinman signature
<< <i>[IEven if I'm way-out optimistic on the demand for these coins, the decision to buy quantities of a 1.4 million mintage modern quarter for 35 cents each is a low-risk, high-reward no-brainer IMO. I would be willing to max out a credit card or two if given such an opportunity.q]
Joe
Do the math on a $10+ dollar 5 quarter set. Quite a hefty profit! Bet it happens.
<< <i>For those collectors that have no interest in these, they are optional. For those who want to collect them, purchase at will.
What is the big deal?
The big deal is it creates another hole in the album for those collectors who wish to maintain a complete collection of Washington quarters for no good reason, other than mint / government greed. Some pieces, like the 1970-D half dollar came out this way because there was going to be a change in coposition in the half dollar, and the government didn't want to issue any coins that had no chance of circulating.
The 1996-W was silly, but it was an isolated case. Here we have something that will be required for a "complete set." If the mint keeps doing this some collectors are going to get tired of the foolishness and just leave the hobby. That what as happened to the stamp hobby, which once attracted many collectors who were very active. The Post Office Department kept issuing tons of stamps every year that commemorated not much of anything, and then compounded the error by doing away with the classic plate block and making collectors buy whole sheets. After a while collectors said to "he** with it!" They stopped buying, and now the stamp hobby is really hurting.
I don't want to see this happen to coins. We have already seen that the "bloom came off the rose" when the State Quarter series ended. Doing stuff like this is not going to stimulate interest in the American the Beautiful series. It's going to do just the opposite.
<< <i>Even if I'm way-out optimistic on the demand for these coins, the decision to buy quantities of a 1.4 million mintage modern quarter for 35 cents each is a low-risk, high-reward no-brainer IMO. I would be willing to max out a credit card or two if given such an opportunity.
I think that ultimately the Mint will either increase the projected mintage of these coins or raise the initial offering price beyond the price of their P and D cousins. If they don't, I predict that a 25th Anniversary Set frenzy will occur on the Mint's web site once again. It took less than six hours for the Mint to sell $30 million worth of the 2011 Silver Eagle sets. It should take a much shorter time to sell $3 million worth of 2012-S quarters in rolls and bags. >>
I couldn't agree more except I think they might sell out in mere minutes.
I hope they've upgraded their computers since the last ordering fiasco.
At 35c each there are probably dozens of speculators who would want the entire production.
2012-S El Yunque rolls *and bags* have already been announced on the Mint's website. Available June 21. No mention of 5-coin sets or 5-roll sets.
<< The last offering (El Yunque) sold only 6500 100 coin bags and 21400 two roll sets. >>
That's 650,000 coins in bags and 1,712,000 coins in rolls, a total of 2,362,000 coins from 2 mints, or about 1,181,000 coins from each mint (so far - they're still available). This is close to the 1.4 million announced mintage for the "S" mint coins, which are generating a lot more collector interest and are expected to be much more popular.
My Adolph A. Weinman signature
So, are there any real collectors still want to max out their credit cards??
<< <i>Michael, from Mintnewsblog, just confirmed that “S” Mint Quarters Will Be Produced to Demand.
So, are there any real collectors still want to max out their credit cards?? >>
That should quiet most speculation.
Joe
<< <i>Michael, from Mintnewsblog, just confirmed that “S” Mint Quarters Will Be Produced to Demand.
So, are there any real collectors still want to max out their credit cards?? >>
A good idea, but why the heck couldn't they get it right the first time????
<< <i>Michael, from Mintnewsblog, just confirmed that “S” Mint Quarters Will Be Produced to Demand.
So, are there any real collectors still want to max out their credit cards?? >>
This announcement just smashed the flippers dreams. The only one that will be making big money now is the Mint!
In my opinion they should never have stopped minting regular coins in San Francisco in the first place.
<< <i>I'd like to get one, each, but I have no desire to order a whole roll to get one coin.
In my opinion they should never have stopped minting regular coins in San Francisco in the first place. >>
The trouble was the regular issue S-mint coins they did issue did not circulate very much. Collectors and others snapped them up. It makes no sense to produce coins for circulation that don't circulate.
I would also like to see either a special 5 coin packet or special wrapping paper for these coins. I can see it now, we have to get the coin solely for the purpose of having a complete set of these quarters.
I don't think that they will be in any of the proof coin sets so once again we will have dig deeper for the hobby or fall behind and not have a complete set.
I certainly will get a few.
My Adolph A. Weinman signature
Box of 20