Collectors will pay more for all five Star-Spangled Banner commemorative coin products after the introductory sale price period ends on Thursday, April 5, 2012 at 5 PM EDT.
Prices will rise across the board by $5. While the increases will be felt less for the gold commemoratives with prices already hovering in the $500 range, they are more noticeable for the silver commemoratives as they represent hikes of more than 10%.
Below is a commemorative coin pricing schedule provided by the U.S. Mint.
|Star-Spangled Banner Commemorative Coin||Introductory Price||Price Adjustments||Regular Price|
|Proof $5 Coin||$505.00||+$5||+$510.00|
|Uncirculated $5 Coin||$495.00||+$5||+$500.00|
|Two-Coin Proof Set (Proof $5 Gold and Proof $1 Silver)||$555.00||+$5||+$560.00|
|Proof Silver Dollar||$49.95||+$5||$54.95|
|Uncirculated Silver Dollar||$44.95||+$5||$49.95|
Beyond the introductory price change, the U.S. Mint will adjust coin prices when there are sizable fluctuations in the precious metals market. Every Wednesday, the Mint recalculates the weekly gold average from the London Fix, and if gold moves outside certain price points, then the Mint adjusts its numismatic gold coin prices accordingly.
Silver dollar prices do not change often unless there is a significant movement in the silver market, such as a swing of $5 to $8 per ounce.
The last time the U.S. Mint changed prices on the Star-Spangled Banner coins was shortly after the commemorative coins debuted. The price of gold had tumbled, so the gold coin offerings fell by $24.30 each. The price of the silver coins have remained the same since their release.
It is unlikely sales will be affected greatly following the transition from the introductory to the standard pricing. In general, most who were interested in this year’s commemoratives made their purchases — especially for the silver options. And those who learn about the coins late and are interested are not likely to be dissuaded by a $5 change.
The Star-Spangled Banner coins were released on March 5, 2012 in collector proof and uncirculated qualities and in gold and silver. An additional set, the 2012 Star-Spangled Banner Two-Coin Proof Set that contains one gold proof and one silver proof, is also on sale.
The following are the latest Star-Spangled Banner Commemorative Coin sales figures as published by the U.S. Mint as of April 2, 2012.
|Star-Spangled Banner Commemorative Coin||Mintages||Latest Sales|
|$5 Gold Proof||100,000 Max||4,170|
|$5 Gold Uncirculated||3,137|
|Two-Coin Proof Set||7,801|
|Silver Dollar Proof||500,000 Max||74,789|
|Silver Dollar Uncirculated||28,815|
Obviously, the current sales levels are substantially short of the maximum mintages. The Star-Spangled Banner Commemorative Coin Act (Public Law No: 111-232) allowed up to 100,000 $5 gold coins and 500,000 silver dollars.
Each commemorative may be purchased directly from the U.S. Mint on its website (http://catalog.usmint.gov/) or through its toll free number 1-800-USA-MINT (872-6468).
About the Star-Spangled Banner and Commemorative Coin Products
The Star-Spangled Banner is the national anthem of the United States of America. It was written by Francis Scott Key, an eye-witness to the British bombardment of Fort McHenry during the Battle of Baltimore in the War of 1812.
American soldiers defended the fort and their 42-foot by 30-foot American flag despite an attack of gunfire, bombs, and rockets that lasted approximately 25 hours. The defense of the fort was momentous, as it prevented the British from taking Baltimore. When Key saw the flag in the morning after the smoke from the bombing cleared, he was inspired to write the poem commemorating the historical event.
The obverse of the gold coin portrays an American ship in the foreground with a damaged British ship fleeing in the background. The reverse has the words, "O say can you see," written in Key’s handwriting with 15 stars and stripes as the backdrop.
On the obverse of the silver dollar is a rendition of Lady Liberty waving the 15 star and 15 stripe Star-Spangled Banner flag with Fort McHenry in the background. The reverse illustrates the waving of a modern American flag.