Comments on: Julia Grant First Spouse Gold Coin in Proof Sells Out

By: TucsonAZ

TucsonAZ — Mon, 16 Apr 2012 17:38:11 +0000

I wonder if the Mint to delaying issuance of the 2012 FS issues so they can ensure that they sell as many of the 2011 issues as possible. There’s been no explanation (or least none I have heard) why the 2012 FS issues are being delayed so long.

By: george glazener

george glazener — Mon, 02 Apr 2012 20:39:00 +0000

Sounds good in theory, but knowing this bunch, they probably just pull a number out of their ass. It’s easier that way, and they can get back to texting their friends sooner.

By: Zaz

Zaz — Mon, 02 Apr 2012 20:02:34 +0000

The terminology that is applicable to this process is “forecasting.” The Mint, using available market trends and the precious metal prices of the previous 4-5 months, will predict how many gold coins can be sold, usually within a quarterly period, for about a year’s time. It means they will strike an initial batch of coins then periodically supplement with additional smaller runs during the year the coin is available for sale. The 15K is a maximum guide only, and it won’t be anything near that for each of the 2011 FS coins. The more realistic sales figure is 4,000 per proof and 3,000 per uncirculated.

By: RonnieBGood

RonnieBGood — Mon, 02 Apr 2012 16:49:47 +0000

Hello Jim,
This is confusing terminology. You are right. They did not sell out. Should say, “Goes Off Sale”. What happens is that when is not enough demand (not enough sales to meet the 15k max) at a point in time (of the Mint’s determination) they stop selling. They have a mintage run and when that sells out or comes close they stop selling (after 1 year of sales). I am sure that this is cost effective for the Mint but it is very confusing for Collectors. We never know when coins will go off sale! One other point. If they did mint the 15k and only sold 6,548 then they would have to melt the remaining for future coin mintage. I like your idea on an end run, however, there may be an issue with Orders Due to the Price Fluctuations of Gold.

By: bill

bill — Mon, 02 Apr 2012 16:41:50 +0000

the law only applies to people not in the government
or if you make below 100,000. /sarc

By: jim

jim — Mon, 02 Apr 2012 15:25:11 +0000

So, in fact the coin did not sell out, the mint on their own decided to change the law and mint a smaller number of coins than the law authorizes. I understand the mint’s desire to not mint more than the demand but they can at least honor the law and mint what they said they would (i.e. 15,000 max) up to the same date the associated presidential coin is available for sale. Is this a lame idea from the incompetent deputy director of the mint? They’re not at all hesitant to delay delivery until it suits them so why not mint the coins one final time at the end of the run for all the orders unfulfilled up to that point and then call it quits for that coin?