Debut sales for the collectible gold and silver Star-Spangled Banner Commemorative Coins have been released by the United States Mint.
These figures, issued Monday, March 12, 2012, indicate strong demand for both the gold and the silver coins with a sizable percentage of their respective maximum mintages already sold. Perhaps more interesting, albeit not particularly surprising to many, is that sales of the two-coin proof set has outpaced the individual gold coins.
To back up a second and review, the Star-Spangled Banner Commemorative Coins were initially released to the public one week ago on March 5, 2012. Issued as part of the U.S. Mint’s second commemorative program for 2012 are $5 gold coins and silver dollars, both struck to proof and uncirculated qualities. In addition, the U.S. Mint also released a Star-Spangled Banner Two-Coin Proof Set containing one proof $5 gold coin and one proof silver dollar.
The table below offers the U.S. Mint’s recorded sales for the commemorative strikes in their first seven days of availability:
|Opening Sales||Mintage Limit|
|$5 Gold Proof||3,103||100,000|
|$5 Gold Uncirculated||2,355|
|Two-Coin Set||6,164||limited by gold and silver coin mintages|
|Silver Dollar Proof||44,479||500,000|
|Silver Dollar Uncirculated||18,763|
As the chart above indicates, the total number of $5 gold coins sold currently stands at 11,622. This includes the individual proof and uncirculated coins as well as the proof sold as part of the Two-Coin Set. This calculates to 11.6% of the maximum authorized 100,000 mintage.
Looking at the silver dollars shows a higher percentage already claimed. Adding the proof and uncirculated silver dollars to the proof coins sold as part of the two-coin set comes to 69,406. This equates to 13.9% of the silver dollar maximum mintage which was established by law at 500,000.
The two-coin proof set has not been given a mintage cap. Instead, the number sold is limited by the mintage established for the individual coins it contains. Thus, no more than 100,000 gold coins or 500,000 silver dollars may be sold as part of the program including those in the two-coin sets. (Down the road, the U.S. Mint also plans on releasing a bicentennial silver dollar set which would have a maximum product limit of 50,000.)
Pricing for the Star-Spangled Banner Commemorative Coins since their debut is shown in the following table:
|Commemorative Coins||Debut Price|
|$5 Gold Proof||$505.00|
|$5 Gold Uncirculated||$495.00|
|Two-Coin Proof Set||$555.00|
|Silver Dollar Proof||$49.95|
|Silver Dollar Uncirculated||$44.95|
These prices are subject to change. Most notable, the price of the gold coins and the two-coin set may be adjusted weekly by the U.S. Mint based on its precious metal pricing matrix. This matrix ties the price of precious metal coins to recent market activity with adjustments typically made on Wednesday around noon, if needed. (The gold products were in fact reduced in price two days after their launch.) In addition, the price points above indicate a $5 introductory price discount. This discount will be lifted at 5 p.m. (ET) on April 5, 2012.
Star-Spangled Banner Commemorative Coins were authorized by Congress as one of two commemorative coin programs in 2012. The other program is the Infantry Soldier Silver Dollars issued earlier this year.
These Star-Spangled Banner Coins feature designs emblematic of the bicentennial of the writing of the Star-Spangled Banner written by Francis Scott-Key as a poem during the War of 1812. The poem would eventually become the national anthem of the United States.
Surcharges collected on the sale of the strikes will be forwarded to the Maryland War of 1812 Bicentennial Commission (http://starspangled200.org) to support the "bicentennial activities, educational outreach activities, and preservation and improvements to the War of 1812 sites and related structures.