2016 American $1 Coin and Currency Sets Log First-Day Sales of 21,149

by Mike Unser on June 17, 2016 · 15 comments

First-day sales of the 2016 American $1 Coin and Currency Set reached 21,149 units, or 28.2% of the allotted 75,000.

2016-S Native American $1 Coin, reverses

2016 American $1 Coin and Currency Sets include enhanced uncirculated 2016-S Native American dollars. These two photos show one of the dollar’s reverses under different lighting conditions. Native American dollars feature annually changing reverse designs.

Sets launched Thursday without a hitch. Collectors reported hassle-free ordering, fast processing, and prompt receipt of confirmation emails. Those who bought early and paid more for shipping were receiving their sets by this morning.

The general buying experience was a turnaround from last year when demand for 2015-dated sets bogged down the U.S. Mint’s online system. That set posted first-day sales of 44,344 units.

This year’s set includes an enhanced uncirculated 2016 Native American $1 Coin from the San Francisco Mint and an uncirculated Series 2013 $1 note from one of the 12 Federal Reserve Banks. Both are exclusive to the set.

2016-S Native American $1 Coin, obverse

A photo showing an obverse side of a $1 coin held in a set

The U.S. Mint is promoting the notes as having low serial numbers. The order crossing our door includes $1 bills from the Federal Reserve Bank of Atlanta with sequential serial numbers beginning with three zeros.

Series 2013 $1 note

Sets also include an uncirculated Series 2013 $1 note

Priced at $14.95, the U.S. Mint’s product page for the 2016 American $1 Coin and Currency Set is right here.

Stay tuned to CoinNews. We’ll publish more photos of sets next week.

{ 15 comments… read them below or add one }

Christopher Williams June 17, 2016 at 4:15 pm

Thank you, Mike.

Jp June 17, 2016 at 4:30 pm

That is a really nice looking coin. Maybe if the Mint had made ALL of the $1 golden coins like this (enhanced) they would not be sitting on a vault full of presidents and not able to sell these to the public. IMHO

Seth Riesling June 17, 2016 at 5:10 pm

Mike Unser –

Thanks for the update on first day sales & your always high-quality photos!

I am very surprised at the low first day sales. This set is great! My 5 sets arrived this morning & the coins are all high quality & I got 4 consecutive serial number notes starting with 00013054 & one note with 00013073. I hope the Mint lifts the household limit soon so I can buy 5 more for gifts.

Christopher Williams –

Glad your order shipped quickly too. Please let me know which low serial # notes you get & condition of coins. Thanks!

Jp –

You are so right. These Enhanced Uncirculated versions are beautiful & should have been done more often.

Happy collecting everyone!

-NumisDudeTX

joera June 17, 2016 at 5:49 pm

There was a time when the mint set a time limit on ordering instead of a mintage limit. I wish they would do that again with a very short time limit. Like on this set if it had just 24 hours for ordering it might have had a great low mintage. But then again with the time limit everyone that wanted the set would all order in the 24 hour time and the mintage might have been higher than 21,149. No telling how that would have worked out but I think they should try it again. At least they would not have a stock pile of unsold coins.

Seth Riesling June 17, 2016 at 6:24 pm

joera –

Like you basically said, I hope the Mint didn’t produce all 75,000 sets or they might be in their warehouse for a long time based on low first day sales on this set.
You mentioned a time period to order products like the Mint did on the 2012 & 2013 special ASE anniversary coin sets. They took orders for one month & customers could order as many as they wanted & then they made the coins. The sales of those two sets were very high as a result. I still think picking a mintage figure & sticking to it, but putting a 1 per household limit for the first week of sales on special sets is a fair way to do it.

-NumisDudeTX

Bilelle June 17, 2016 at 7:51 pm

Mike Unser,
The process went very smooth yesterday in ordering the new set. I was happy that it was not a real mess like the Gold Mercury dime.
Mike, speaking about the Gold Mercury Dime, have you heard anything T all about what the mint is planning to do about the 8000+ coins that they have left?
Thanks, Bilelle

joera June 17, 2016 at 8:17 pm

Seth:
Do you think if the time period was short, like 24-48 hours, and 1 per household, maybe we could get a low mintage. But then again it might just cause more problems during ordering. A month’s time is kind of long and with no household limit, well that’s asking for a high mintage. I do agree with picking a mintage with 1 per household is the way to go if the mintage is low. But the Mint does not seem to think much about low mintage, real collectible and potential value for our coins.

jim June 17, 2016 at 8:19 pm

Here’s hoping the online ordering improvement is permanent. We’ll see in a couple weeks when the platinum eagle goes on sale with only 10,000 available.

As to time limited ordering two things are needed: a fast responsive online ordering system (which as reported it seems is now up and running) and an advanced product schedule that reaches to the end of the year with actual dates and descriptions for all products rather than nebulous months of release and especially TBDs. With these two criteria met one can plan workarounds for business trips, vacations, or other absences and meet their collecting goals. Since the current “leadership” doesn’t seem to care about the product schedule time limited ordering looks doomed.

Seth Riesling June 17, 2016 at 8:54 pm

joera –

If the Mint went to a very short order period as you mentioned even with 1 per household they would be overwhelmed on the phone & their website. The only reason there were no problems with this set is that very few people placed orders in the first 24 hours (with an average of 3 sets per order that would be only 7,000 orders in 24 hours by phone & online)
If they would just get a better handle on what a mintage should be on any given product, & stick to a 1 set or coin per household for at least a week it would work out ok IMHO.

jim – You are right about the product schedule situation with too many TBDs. The Mint didn’t release all the info on this set till a week before it was offered. Yet, I know the process on these sets with outside vendors producing the packaging, that the Mint knew all the info way ahead of time but didn’t release it for some strange reason. If you notice on the back of the outside cover on this 2016 set, the copyright is 2015. So these were in the planning for a long time. I don’t know why the Mint tries to keep info “secret” till the last possible moment on some things. It is simply unprofessional & any private business would be bankrupt if they acted this way towards its loyal customers.

-NumisDudeTX

Christopher Williams June 17, 2016 at 8:57 pm

I know a lot of collectors (myself included) is looking for the sale date for the “2016 Reagan Coin & Chronicles Set.”

Too many TBDs.

Christopher Williams June 17, 2016 at 8:58 pm

I meant to write “Are looking for the sale date….”

I hate typos.

joera June 17, 2016 at 9:43 pm

Yea it seems that the Mint has a problem with being overwhelmed with orders and that they just have no idea how to have good customer service.

jim June 18, 2016 at 11:42 am

IMHO the current mint “leadership” is not at all interested in supporting the collecting public. And neither is treasury secretary Lew. I expect the mint should be planning at least 3 years in advance ordering the precious metal planchets. They know the descriptions of all the products most of which only require a minor tweaking from one year to the next. I’m thinking the current “leadership” at the mint is overwhelmed with the volume of coinage the mint is tasked with producing every month and that they may be mentally incapable of dealing with the collector coinage exceptions. Consequently they are deathly afraid to make public any scheduled product date until it is almost upon them. These Senior Executive Service people are simply seat warmers apparently with no goal other than to maintain the status quo which is why the mint has been effectively leaderless since Moy left in 2011.

Bilelle June 18, 2016 at 12:18 pm

I also agree with the comments above about the TO MANY T B D in the product schedule.
Another thought for the Mint to consider is what I have seen for years now with some other highly collectible items. Come out with a Schudle right at the first of the year with items that are aimed at the collectors and have a stated ordering time and when the time is up , it’s all over ordering. Then the mint would have a good idea of what they have to produce and the quantiles.
How to price the precious metal coins could give the mint some heart burn but they could work on a system where they gave the prospective buyer a reasonable price range and if in the end the price that the mint expected from the buyer, the buyer could opt out of the order and at the end of filling all of the preorders the mint could offer these “Opt out Coins” for sale with a two week notice.
Why would any operation trying to be effective always be guessing at quantities.
In the end the operating cost at the mint should be lower and the mint could in good faith lower the selling price of the collectibles.
Would that sound reasonable to you as a collector?
For the dealers it seems that it might not be a bad thing either. But for the flippers it could drive many of them out of business thru the supply and demand situation.
Everyone would have the same shot at placing a preorder. Another feature could be an opt out period because if the mint placed the years potential collector coins ordering process either early in the new year or in the fall of the year before so that the mint could come into the new year knowing what qualities they were going to produce of the collectible items.

Thoughts and comments please.
Bilelle

Seth Riesling June 18, 2016 at 5:58 pm

Bilelle –

You have some good ideas & suggestions. The pre-order option has been done in 2012 & 2013 on special ASE anniversary sets & all it did was cause a very high mintage & not much secondary market value. But, at least everyone got how ever many sets they wanted & it put dealers & collectors & flippers & investors on the same leveled playing field. The key IMHO is whatever the mintage is on a coin or set, it should automatically be a 1 per household limit during first week. That would allow almost everyone to get at least one for their collection.

-NumisDudeTX

Leave a Comment