Nearly half of the allotted 2016-W Standing Liberty Centennial Gold Coins sold in the first day, the United States Mint announced Friday morning, Sept. 9.
"First day sales of the Standing Liberty 2016 Centennial Gold Coin, only offered via the phone and online catalog, with a mintage limit of 100,000, and household order limit of one: 47,884 coins," U.S. Mint spokesman Michael White said in an email.
Most early buyers, say those ordering within the first 30 minutes or so, had to navigate the obstacles of an exceptionally busy U.S. Mint website. There was a stampede to get them.
The household ordering limit of one coin earned collectors’ eventual happiness. It assured the coin’s availability through the first day and beyond.
Dealers and flippers, on the other hand, are feeling some burn. The lack of a quick sellout will depress short-term secondary market prices for this coin, sapping its buzz and making an eventual sellout less likely even with lifted limits.
At a higher limit level, perhaps 2-3 coins per household, all parties may have screamed today with joy. But then, of course, hindsight is 20/20.
We’ll publish gold Standing Liberty quarter photos as soon as possible. Usually ordering takes us less than 30 seconds for regular U.S. Mint products and under 5 minutes for those in high-demand. Not this time. We got knocked out early in the line to buy, and couldn’t place an order for nearly 20 minutes.
The U.S. Mint’s product page for the collectible is right here. Place phone orders at 1-800-USA-MINT (872-6468).
Update (Sept. 13): The U.S. Mint reported sales of 53,378 coins through Sunday, Sept. 11.