Monthly Archives: February 2010

On the eve of the 2010 Lincoln cent launch ceremony, United States Mint Director Ed Moy met with about 60 coin enthusiasts to answer questions and share information about the US Mint and its coin programs.

This second article installment focuses on Mr. Moy's discussion of a variety of topics, to include projected mintage levels for the 2010 penny, nickel and dime expectations, circulation coin design improvements, production processes, and coin distribution answers -- like how the new shield cent made its way into Puerto Rico before the coin was ceremoniously released on February 11, 2010.

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Rolls of new 2010 Lincoln Shield Cents will be available for cash exchange at two locations in Washington, D.C., on February 25, 2010.

The original exchanges were canceled due to two blizzards that ran through the national's capital and closed down the federal government for four straight days.

As a part of the celebratory release of the new pennies which officially launched in Springfield, Illinois on February 11 -- the day prior to the 201st anniversary of Abraham Lincoln's birthday -- the original exchanges were to be held at the United States Mint's Headquarters Building, 801 9th St NW, and in Union Station, 50 Massachusetts Avenue NE.

The rescheduled D.C. area exchanges will occur at the same locations on Thursday between 10:00 AM. - 4:00 PM Eastern Time (ET) or until the penny inventory is exhausted. Collectors will be able to swap for between two to six rolls of the coins.

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The United States Mint released 2010 American Eagle Gold One Ounce Bullion Coins to its network of authorized buyers one month ago. Sales on that day, January 19, 2010, were brisk with 30,500 sold in the first twenty-four hours.

The numbers have since remained relatively steady, but not out-of-the-park impressive. The latest US Mint figures indicate 151,000 eagles have been drawn from their inventory. 54,500 more will need to be scooped up by month's end to match January and February totals from 2009.

The price of gold is affecting demand, and seller inventory levels. The yellow metal premiered at just above $1,120 to start 2010. Prices rose to over $1,150 within the first week, but then retreated toward $1,058 by early February. Gold has since returned to the $1,120 area. Both buyers and sellers have been cautious given gold's volatility. As a prime example, less than one hundred 2010 American Gold Eagles have been auctioned on eBay US. It is sketchy at best to scrutinize the eagles too deeply with so few sold, but the numbers are nevertheless worth noting.

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One of the most sought after coins released by the United States Mint last year was the 2009 Ultra High Relief $20 Double Eagle Gold Coin.

These Ultra High Relief (UHR) strikes were so desired that an amazing 28,173 flew off US Mint's shelves in the very first day of availability (January 22, 2009). And that was with a one per household order limit in place. They sold for $1,189. That accounted for a premium of almost $330 over the then current spot price of the one ounce of gold they contained. But that would prove to be a bargain when gold continued to climb the rest of the year.

By the 31st of December, the last day in which the Mint was accepting orders for the UHRs, their $1,489 purchase price was the highest it had been all year -- exactly three hundred dollars over where they started. Final sales figures show a total of 115,178 were sold. Now, the only place to purchase the gold pieces is from the secondary market. Not surprisingly, prices have not gone down. Graded examples are higher than ever.

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