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
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
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.
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.
I have to admit I'm surprised they dropped the fractional buffalos after less than a years production. Have sales been that bad?
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.
All I found is this http://usmint.gov/pressroom/index.cfm?action=press_release&ID=955 but no specifics. Personally, I hate that they're getting rid of the fractionals. I can't afford all those 1oz coins. With this, the mint has significantly cut the amount of money they'll get from me!
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.
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
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.
And the First Spouse series, if you want to consider those bullion. My hobby just became MUCH more expensive!
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