<<We have breaking news: the Mint has announced that only 50,000 American Legacy Collection sets will be produced. Originally, the number was 100,000. The Mint is doing this to make remaining coins available as individual proofs.>> Has anybody else heard this? What does this mean for the Legacy collection? it must be good, lower mintage means more value in the years to come....Right? Has the mint done this before? Here is the link that I got it from: Legacy mintage numbers
That is very interesting...so I am wondering if the Mint has released a public statement? Do you or anyone else know of this? RickieB
The mint has not released a statement.... Check the press release section on the mint web site there is no mention of this at all or anywhere else that I can tell...Is this information valid? How do we verify this info? Anyone live in SanFran that can check this out? Speedy I know you did not like the Legacy collection but what do you think now that they might lower the mintage it might justify the higher cost...What do you think?
This is not going to lower the mintage of the coins. It only lowers the number of these sets being available for sale. The mintage numbers of the individual coins will remain the same. You have to keep in mind - the Proof versions of the Marine $1 and the Marhsall $1 are being sold in two different ways. They are being sold individually and in these sets. In both instances the coins are the same. The same thing goes for the other Proofs in the set - they are being sold in even more ways.
I guess I am comparing these Legacy sets to the Prestige sets of a couple of years ago.... When I look in the Red Book it states that the mintage for the 1997 Prestige set (last prestige set made) was 80,000... $48 list price and now selling for around $200-$275.. This will take me a while to get baced on the price now to fill my collection. Now what I don't know is did they sell the Botanic dollar separate in this year like they are the Marine and John Marshall? if so then just like now I know there is a higher mintage for the actual coin but only a cirtain amount were put in the Prestige sets. does this make sense. And for that matter... I am back to a good question... what does lowering the mintage for the legacy sets say... will the price of the legacy sets baced on a lower mintage go through the roof once they are sold out??? by raising the available single proof marine and John marshall dollars be the right thing to do... Just concerned that by lowing the mintage on the legacy set, will this price this right out of the average collectors pocket book... Ryan
You are making a fair comparison - but you are still confusing mintage numbers of individual coins with number of sets sold. The Botanic Gardens Proof $1 you mentioned - there were a total of 264,528 minted and sold. 80,000 of those were sold in the '97 Prestige sets and 184,528 of them were sold as individual coins. Your comments are kind of like saying that the 80,000 Proof coins sold in the Prestige sets were somehow different than the other 1,895,000 of them were. Do you see what I mean ? The only thing that makes them special in any way is the packaging they were sold in - in other words the sets. But the coins in those Prestige sets were exactly the same as the '97 Proof sets. Yes the Prestige set cost more - but that is because they are popular. And because the US coin market has gone crazy in the past 5 years. Three or four years ago you could have bought that '97 Prestige set for about $75. The cost today has absolutely nothing to do with the mintage numbers. It only has to do with the number of sets available and the fact that a lot of people want them. 3 years ago that was not the case. And 3 years from now - it likely won't be the case either.
aaaahhhh I see... sorry about that.. buy the coin not the slab... buy the coin not the "Set" / "package"... Still curious has the mint done this in the past lower the mintage on a collector set to boost individual sales of that coin? is the origianal post valid? seems like the numeristic news is a source I/we can trust..
That's not what I'm saying. I'm saying don't confuse mintage numbers with the with the way that coins are offered for sale. Mintage is mintage - it's always the same and never changes. What changes is the number of coins made available for sale in various packages. And whether it sounds logical or not - original packaging can and does have an impact on value. Well almost - your sentence would be worded correctly if it was - " Still curious has the mint done this in the past, lower the number of sets available on a collector set to boost individual sales of that coin? " I can't cite you specific examples of the mint doing this before, but I would imagine that they have. They have changed the rules on offerings many times over the years. But it's not really done to boost sales - it's usually done to allow more individuals to be able to purchase the coin in question. Typically this sort of thing only happens with the offerings that are selling well to begin with. And yes - you can trust reports published by Numismatic News.
