Mint ending bullion products, Big news.

Discussion in 'Bullion Investing' started by CentDime, Nov 10, 2008.

  1. CentDime

    CentDime Coin Hoarder

    Monday, November 10, 2008
    Mint cuts bullion products drastically
    Posted by Dave

    Stores have clearance sales. Now the U.S. Mint will have one too.

    Starting at 12:01 a.m. Nov. 15, the Mint will be offering hundreds of current and past products to collectors to clear out their two current fulfillment centers in preparation for moving to a new one in Plainfield, Ind.

    The news confirms online speculation that some Mint collector versions of bullion coin products will not be offered again. However, the extent of program terminations perhaps surprises.

    Uncirculated platinum American Eagles with the “W” mintmark in all sizes end with this year’s coinages.

    American Eagle platinum proofs come to an end, too, except for the one-ounce coin.

    Uncirculated gold American Eagles will be discontinued except for the one-ounce size.

    All American Buffalo uncirculated “W” collector versions will be ended.

    Proof American Buffalo gold coins will be stopped also except for the one-ounce coin.

    Other terminated products include new ones like Presidential dollar Signature Sets and the proof Presidential dollars sold individually.

    Old ones, like state quarter First Day Coin Covers and Greetings from America Portfolios and Card Sets, are coming to and end after the 10-year program concludes.

    Mint Deputy Director Andrew D. Brunhart says of the clearance sale, “It will be limited time. First come, first served. No household limits. All sales will be final. If you’re wondering, we won’t exceed any Mint limits.”

    The sale will conclude at 5 p.m. Dec. 19, but some products are likely to be gone well before then.

    Of those that don’ sell, Brunhart says, “We’re going to be doing a significant detrashing and melting (of) the products that do not sell by Dec. 19. Those products will be immediately broken down and sent to the melter.”

    The clearance sale is part of a major re-evaluation of the Mint’s product line. Brunhart says the product offerings will be reduced from more than 550 available in 2008 to roughly 200.

    Leftover 2008 products will stay on sale until June, when they will get the same detrashing and melting treatment.

    “From now on at the end of each year, we will examine our portfolio to make sure the warehouse is not stuffed with products they (Mint customers) don’t want,” Brunhart says.

    “We’re undergoing a significant renewal of our numismatic portfolio in 2009. We have too many products. We have heard loud and clear from our collecting community. We are responding to that. We will be focusing our resources on key products (with the) broadest appeal.

    “Fewer products to concentrate on will enable us to bring out and offer much earlier in the calendar year our key products.”

    The benefit to collectors will be earlier release of hobby favorites.

    Brunhart says, four of these, proof sets, silver proof sets, uncirculated sets and silver Eagles (will be offered) in January of each year.”

    Below are the complete lists of discontinued and last chance products:

    Discontinued Products

    United States Mint Presidential $1 Coin Historical Signature SetsTM
    United States Mint Presidential $1 Coin – Individual Proof CoinsTM
    American Eagle Platinum Uncirculated Coins (all options)
    American Eagle Platinum Proof 1⁄2, 1⁄4, 1/10, and Four-Coin Sets
    American Eagle Gold Uncirculated 1⁄2, 1⁄4, 1/10, and Four-Coin Sets
    American Buffalo Uncirculated Gold Coins (all options)
    American Buffalo Proof 1⁄2, 1⁄4, 1/10, and Four-Coin Sets
    50 State Quarters® First Day Coin Covers (continue through 2008)
    Greetings From America Portfolios and Card Sets
    Coin and Die Sets
    Collectible Spoons


    Last Chance Product Listing

    Annual Sets
    2007 United States Mint Proof Set®
    2007 United States Mint 50 State Quarters Proof SetTM
    2004 United States Mint Uncirculated Coin Set(R)
    2006 United States Mint Uncirculated Coin Set®
    2007 United States Mint Uncirculated Coin Set®
    2007 United States Mint Silver Proof SetTM
    2007 United States Mint 50 State Quarters Silver Proof SetTM
    50 State Quarters® Bags & Rolls
    Wisconsin Two-Roll Set
    Minnesota Two-Roll Set
    Minnesota 1,000-Coin Bag (P)
    Minnesota 1,000-Coin Bag (D)
    Oregon 1,000-Coin Bag (D)
    Colorado 100-Coin Bag (P)
    Nebraska 1,000-Coin Bag (P)
    Nebraska 1,000-Coin Bag (D)
    Nebraska 100-Coin Bag (D)
    Colorado 1,000-Coin Bag (P)
    Colorado 1,000-Coin Bag (D)
    North Dakota 100-Coin Bag (D)
    North Dakota 1,000-Coin Bag (D)
    South Dakota 100-Coin Bag (D)
    Montana 1,000-Coin Bag (P)
    Wyoming 100-Coin Bag (P)
    Wyoming 1,000-Coin Bag (P)
    Wyoming 100-Coin Bag (D)
    Wyoming 1,000-Coin Bag (D)
    Utah Two-Roll Set
    Utah 1,000-Coin Bag (P)
    Utah 1,000-Coin Bag (D)
    Oklahoma Two-Roll Set
    Oklahoma 100-Coin Bag (P)
    Oklahoma 100-Coin Bag (D)
    Oklahoma 1,000-Coin Bag (P)
    Oklahoma 1,000-Coin Bag (D)
    New Mexico Two-Roll Set
    New Mexico 100-Coin Bag (P)
    New Mexico 100-Coin Bag (D)
    New Mexico 1,000-Coin Bag (P)
    New Mexico 1,000-Coin Bag (D)
    Arizona Two-Roll Set
    Arizona 1,000-Coin Bag (P)
    Arizona 100-Coin Bag (D)
    Arizona 100-Coin Bag (P)
    Arizona 1,000-Coin Bag (D)
    Other Bags & Rolls
    2001 Sacagawea Golden Dollar Roll (P)
    2001 Kennedy Half-Dollar 200-Coin Bag
    2001 Kennedy Half-Dollar Two-Roll Set
    2002 Sacagawea Golden Dollar 2000-Coin Bag (P)
    2002 Sacagawea Golden Dollar 2000-Coin Bag (D)
    2003 Jefferson Nickel Two-Roll Set
    2004 Sacagawea Golden Dollar 2000-Coin Bag (D)
    2005 Ocean in View Nickel 1,000-Coin Bag (P)
    2005 Ocean in View Nickel 1,000-Coin Bag (D)
    2005 Sacagawea Golden Dollar 2000-Coin Bag (P)
    50 State Quarters® First Day Coin Covers
    New Jersey
    Georgia
    Connecticut
    South Carolina
    New Hampshire
    Virginia
    New York
    North Carolina
    Rhode Island
    Vermont
    Kentucky
    Tennessee
    Ohio
    Louisiana
    Indiana
    Mississippi
    Illinois
    Alabama
    Maine
    Missouri
    Arkansas
    Michigan
    Florida
    Texas
    Iowa
    Wisconsin
    California
    Minnesota
    Oregon
    Kansas
    West Virginia
    Nevada
    Nebraska
    Colorado
    North Dakota
    South Dakota
    Montana
    Washington
    Idaho
    Wyoming
    Utah
    Presidential $1 Coin Coin Covers
    George Washington
    John Adams
    Thomas Jefferson
    James Madison
    50 State Quarters® Coin & Die Sets
    North Carolina (P)
    Rhode Island
    Tennessee (D)
    Maine (D)
    Iowa (P)
    Oregon (P)
    Nebraska (D)
    Nebraska (P)
    Colorado (P)
    North Dakota (D)
    North Dakota (P)
    South Dakota (D)
    South Dakota (P)
    Montana (D)
    Montana (P)
    Washington (P)
    Idaho (D)
    Idaho (P)
    Wyoming (P)
    Wyoming (D)
    Utah (D)
    50 State Quarters® Collector’s Spoons
    Iowa
    West Virginia
    Nevada
    Nebraska
    Colorado
    North Dakota
    South Dakota
    Montana
    Washington
    Idaho
    Wyoming
    Utah
    Oklahoma
    New Mexico
    Arizona
    50 State Quarters® Greetings from America Series
    1999 Card Set
    1999 Portfolio
    2000 Card Set
    2000 Portfolio
    2001 Card Set
    2001 Portfolio
    2002 Card Set
    2002 Portfolio
    2003 Card Set
    2003 Portfolio
    2004 Card Set
    2004 Portfolio
    2005 Card Set
    2005 Portfolio
    2006 Card Set
    2006 Portfolio
    2007 Card Set
    2007 Portfolio
    Card Set Album
    Portfolio Album
    Westward Journey Nickel Sets
    2004 Westward Journey Nickel SeriesTM Coin Set
    2006 Westward Journey Nickel SeriesTM Coin Set
    Special Sets
    50 State Quarters® And Euro Coin Collection
    Official Coin Collecting Starter Kit
     
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  3. CentDime

    CentDime Coin Hoarder

    This should sell out fast for bullion.
     
  4. elaine 1970

    elaine 1970 material girl

    last change

    if i still have some money on hand. i will buy these products:

    2001 sac (p) roll
    2002 sac (p) 2000 coin bag
    2002 sac (d) 2000 coin bag
    2003 jefferson nickel two roll set
    2004 sac (d) 2000 coin bag
    2005 sac (p) 2000 coin bag
    2004 westward nickel set
    2004 unc set
    2007 proof set
    2008 am eagle gold (w) 4 coin set
    oklahoma (d) 1000 coin bag
     
  5. CentDime

    CentDime Coin Hoarder

    With the drop of many offerings the remaining products should have higher sales so 2008 could be a low year mintage, not to mention many of the products series have ended so they are completed sets. This will change how the coins are in the aftermarket pricing is my guess and those that purchased will do well with these ended products as investments.
     
  6. elaine 1970

    elaine 1970 material girl

    price movement

    i don't think these products will have good results as to the future prices. if the mint just announce close for selling all these products. then that's good. but to sell all these products at additional mintage to already existing prices and sales figures. the prices instead will drop heavy.
     
  7. elaine 1970

    elaine 1970 material girl

    follow up

    these products might have a lot of returned goods. damage and problem coins. beware....
     
  8. CentDime

    CentDime Coin Hoarder

    They still have a return policy which should last beyond the sell-out if it happens.
     
  9. Conder101

    Conder101 Numismatist

    I have to admit I'm surprised they dropped the fractional buffalos after less than a years production. Have sales been that bad?
     
  10. elaine 1970

    elaine 1970 material girl

    economy problem

    world wide economy problem and recession. certainly coin market is affected.
     
  11. elaine 1970

    elaine 1970 material girl

    get rid of it

    let's let the mint to clear all unwanted stuffs. don't buy them. let those coins send back to smelters and recycle it.
     
  12. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Where is this source of information....other than Dave?
     
  13. dman

    dman New Member

  14. RickieB

    RickieB Expert Plunger Sniper

    For what it is worth....buy the Platinum Uncs/Proofs!
    My opinion only...


    RickieB
     
  15. elaine 1970

    elaine 1970 material girl

    down to four

    now i think four products is good to buy:

    namely -
    2004 sac dollar 2000 coin bag
    2004 uncirculated set
    2007 proof set
    2008 american eagle unc gold (w) four coin set.
     
  16. elaine 1970

    elaine 1970 material girl

    oss.....

    no prices listed yet.. hard to buy it.
     
  17. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    Does this mean the only bullion the mint will be producing for now on is this?:

    1oz unc ASE
    1oz proof ASE
    1oz proof Gold Buffalo
    1oz proof Platinum Eagle
     
  18. elaine 1970

    elaine 1970 material girl

    not correct

    the mint still produce complete am eagle proof gold and uncirculated gold wihtout (w)mint mark. and also am eagle uncirculated platinum without (w) mint mark.
     
  19. dman

    dman New Member

    And the First Spouse series, if you want to consider those bullion. My hobby just became MUCH more expensive!
     
  20. elaine 1970

    elaine 1970 material girl

    too many

    from 550 to 200 is still a lot. the mint should cut it to about 50
     
  21. Coinman1974

    Coinman1974 Research, Research, Research

    I have to say I am glad the mint is finally doing something. As stated a lot of collectors have complained about it. I know I was one. A larger then 50% percent reduction in what there marketing, i am all for it.

    As far as cutting it down to 50...I don't know, maybe. Though if it is the collector they are seriously concerned with they should lowerthe mintage numbers as well. Just my opinion.

    Regards,
    Stan
     
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