Free Money!

With the rumored 2 or 3 piece ASE set, and a 999 1st edition annual mint set there could very well be 2 "highly featured mint products" Please let there be a 1 or 2 per household limit and a minimum of 250,000! :rollureyes:

 

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No way!
Minimum of 5,000
And Limit of 5 per household!

 

Nice summary!! I was watching, with great interest, earlier posts about the possibility of replacing coin silver (90%) with bullion silver (99.99%). My gut feeling is that I don't like it...but I could make an argument either way. It's the prospect that the 2012 release has been delayed for the transition that I find interesting. On the surface it sounds plausible, but they've already released the 2012 Silver quarter sets in 90% silver...which would seem at cross-purposes.

The Penny, Nickel, and Dime will be released in the upcoming "Birth Year Sets". Assuming the Proof Presidential dollars will be released in a variety of products, that just leaves the Silver Kennedy half and Silver Roosevelt dime to complete the set. Here are some possible scenarios...

1. The 2012 Silver Proof sets are released normally...All silver coins made of coin silver (90%).
2. The 2012 Silver Proof sets are released with ALL silver coins made of bullion silver (99.99%).
3. The 2012 Silver Proof sets are released with coin silver (90%) quarters and bullion silver (99.99%) Half and Dime.
4. The 2012 Silver Proof sets are suspended for a year until they make up their mind.

I would think #1 or #3 would be most likely. However, if #2 were to happen, the 90% silver quarter sets would be a "must have". I don't even want to think about #4.

 

Yakpoo, I think the mint is messin' with your head! :fish:

How about this....In 1964 with the end of silver content, they were seriously considering stamping 1964 on 65 clad production so that "good" money would not be taken out of circulation.

With that in mind, I will be buying 2011 mint sets on a regular basis just in case they pull a fast one and have a running changeover with no notice. I'm thinking a set every two weeks and maybe weekly towards the end of summer. Stack em, unopened OGP as they would have shipping dates for reference.

What do you think of this?

 

The 2012 .900 proof quarters are out there already.
Do you think they'd make 2012 .999 quarters, too?
It might be worth stocking up on the .900 quarters.

 

:bangg:I may have not been thinking right with my first post since they cannot produce 11s in the new calendar year. I like your idea about concentrating on the quarters because a running change from coin to bullion silver would be possible. And the quarter set would be cheaper to stack.

 

YES!! Those bastids are in my brain...GET OUT!!! :veryangry:

I bought my allotment of 2011 Silver Proof sets on the first day...but I'm picking up some of the 2012 Silver Proof quarter sets (just in case). :thumb:

They (the Mint) did stamp 1964 on silver coins through April 1966...to give the "appearance" that silver coins weren't being hoarded. I haven't seen the Mint make a substantial change to any of their products without first announceing the changes in the Federal Register.

If you go to...

http://www.gpo.gov/fdsys/browse/col...sCollapsed=true&leafLevelBrowse=false&ycord=0

...then select "Search Government Publications" near the upper left...
...then select "Advanced Search" near the SEARCH button...
...then select "Federal Register" from "Available Collections" and move it over to "Selected Collections"...
...then set "Numismatic or Coin" in the search box...
...then (near the top) set "Date is After" (pick a date)...
...then (finally) hit the "Search" button.

You should see all the coin related notifications that have been published since the date you selected. The US Mint isn't supposed to do anything without first publishing it in the Federal Register. You'll notice that the Mint has already published the price for the 2012 Silver Proof set at $67.95 (See: Jan 20th 2012). They would have to post a new notice if they want to change (unless, of course, they create repricing chart like they did with Gold and Platinum products).

Although, I don't see anything in the Federal Register that announces pricing for the 2012 Birth Year Sets. I guess we could always contact B.B. Craig...

FOR FURTHER INFORMATION CONTACT: B. B.
Craig, Associate Director for Sales and
Marketing; United States Mint; 801 9th
Street NW., Washington, DC 20220; or
call (202) 354–7500.
Authority: 31 U.S.C. §§ 5111, 5112 & 9701.
Dated: January 13, 2012.
Richard A. Peterson,
Deputy Director, United States Mint.
[FR Doc. 2012–1024 Filed 1–19–12; 8:45 am]

 

Nope. Didn't take it that way. No foul........

 

I think that might start adding up in shipping costs... $4.95 a set... if you buy 14 sets this way then you could have bought 15 sets all at once basically...

 

Yeah, gotta factor in the shipping costs, thanks.
Instead of one every other week I'm going to buy two tomorrow, and two next month and see what happens from there.

Like playing the lottery.
If they make a running change from coin silver to bullion silver, it would be great to have sealed OGPs with the date on them.
If nothing comes of it, I'll just add them to my silver quarters stack.
The only downside would be raising my average cost per set since I lucked out and got 10 sets on ebay for 280.00

edit: 2012 slv quarter set

 

Wait is there something I missed? Why are you stockpiling 2011 sets? Is there something I should be looking for in them?

 

No no 2011, I was brain dead when I posted that.

2012 silver quarter sets are now available and we know they are 90% or so we think. If they convert without notice it will be the 2012 quarters minted with both 90% and 999 silver (bullion)

 

Who says they are going to convert and wouldn't there be a price hike if the didn't change?

 

Royal Canadian Mint just produced a bullion set. http://www.mint.ca/store/coin/fine-...niversary-of-the-war-of-1812-2012-prod1230006

The USmint is considering the same, just review the last couple pages of this thread.

 

Kruptimes posted a link to the Coin World article in Post #532...and he posted again just above (quoting himself...how vain!).

Basically, the Mint feels they can actually save money by using pure silver planchets because the cost of creating the alloy planchets is greater. So, even if the silver content goes up, the price may stay the same.

More importantly, we're wondering if that's the reason for the delay of the release of the 2012 Silver Proof sets which were "supposed" to be released in January. The Mint jumped through a lot of hoops last year to change the release schedule to January..,now the release is delayed.

As usual, the Mint says nothing...leaving us to speculate. One school of thought is that they made too many 2011 Silver Proof sets and want to sell them rather than destroy them. Another school of thought is that the delay is for the swap over to 99.99% silver planchets. If that's the case, would they swap all the silver coins in the set...including the quarters, which have already been released in 90% silver or would just the Kennedy half and Roosevelt dime swap over?

Who Knows?

The Mint has us all guessing at this point. :bangg:

 

That's truly fascinating. Also, why are the set prices so high this year seeing as silver has gone down this year?

 

Just another US Mint mystery. They dropped prices for other Silver products, but not the 2012 Silver Proof set. Another odd thing was that the Mint announced the 2012 Silver Proof set price in the Federal Register on January 20th...but didn't release them. The Mint doesn't control silver prices...why would they fix a price then not release the product?

The only answer I can think if is that the Mint just doesn't know what they're doing...meaning, there's a lot of things going on and everything is up in the air at the moment. When things get like this, the stroke of a pen can create some great rarities without knowing any better.

 

Hey bradarv90:

Welcome to our little corner of the world! Glad you joined us here on the Free Money Thread. This thread was started back in August by Yakpoo, but I didn't find it until about September or October. Since that time, I have really learned a great deal here. Not to mention all the fun and entertainment the contributors of this thread provide.

For the most part, we've discussed the 2010, 2011 and 2012 Silver Proof Sets. Tuesdays, sometimes Wednesdays, we get a Mint Sales Report from Yakpoo regarding the sales for U.S. Mint products for the previous week. That way we can track the 2011 Silver Proof Set sales against the sales for the 2010's, along with other items. We also have diligently made several attempts to understand and obtain a grasp of the Mints sense of direction. Unfortunately at this time, our success rate in doing that has not met projections. You may wish to go back to previous posts within the thread and check out some of the observations, and questions solved by participants. Good reading for sure. Hope you stick around here with us!

 

I've been here since the start. However, I've been on a CT hiatus for a couple months, so I haven't been keeping up as of late.

 

Well, another week has gone by and we still have no word from the US Mint if/when the 2012 Silver Proof sets might be released. In fact, the "Scheduled Products" page on the Mint's web site extends out to May 15th and there's still no mention of the release. It's been hypothesised that the delay may be due to a switch over to 99.99% bullion coins for the set. On one hand that would be pretty nice if they kept prices the same...but I doubt they will. I also doubt the Mint will swap over to a new composition this year since the proposed change is in 2013 legislation.

Still, one must wonder why the big delay in release of the sets. The Mint went through great pains to move the release dates of the annual sets from August to January...and now they're shifting back with nary a word about it! What's even more interesting is that the Numismatic community is similarly silent. I sent an email to Mr. Gibbs of Coin World about an article he published which states that the 2011 Silver Proof sets would likely stay on sale through the end of 2012, but I never got a response...not that one was required. It would have been nice to hear his thoughts on the subject in any event.

Here's the letter I sent to Mr. Gibbs...

Silver Proof set sales as of 07 March, 2012...

2010 Silver Proof Set sales: 0 for a total of 585,414*
2011 Silver Proof Set sales: 1,072 for a total of 553,498
* Sold Out

The lowest mintage of any modern Silver Proof set is 2010 (585,414). Since we have no idea when the 2011 sales will end (or when/if 2012 sales will begin) the best we can do is estimate how long it will take for 2011 sales to match 2010 sales. Given this week's sales of 1,072 sets, it will take twenty-eight (30) weeks to catch up...and that's very nearly...

2011 Silver Proof Set: (585,414 – 553,498 ) / 1,072 = 30

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