SOLD OUT at Mint?

I just noticed on the U.S. Mint website that the 2012 Presidential $1 Coin Proof Set is listed as "Sold Out." The 2011 Proof set is still available!

I wonder if this means there will be a shortage of the 2012 Set? I wonder how many were minted? I wonder if they are making more? Inquiring minds would like to know!

(The 2012 sets are selling pretty well on eBay also)


http://catalog.usmint.gov/webapp/wc...1&parent_category_rn=16238&top_category=16238

 

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You snooze, you lose!

 

As you all know, I have no problem criticizing the mint, so here goes. Just another example of poor customer service. The mint has set a pattern of offering current year products well into the following year and at times even states something will be available for a full year. So many, including myself, budget accordingly. When they pull products early with little or no notices, it causes financial hardship for many collectors and dealers.

 

Sets like this (proof sets) are issued every year. Everyone knows they are coming. Start saving for them BEFORE they are released, not after. That way you can't be shut out.

 

So what does it mean when the product is sold out, but the mintage limits reads "none?"

 

That's exactly one of the questions I have !!

 

I do not think for one second that the US Mint is going to fire up the presses to produce more 2012 Presidential Proof Sets.
If they are sold out, then so be it. If there are still 2011 Sets available, that only means that the powers in charge of the 2012 Production actually looked at what they stand to lose with those 2011's that are not selling.

 

I'd sure like to get the US Mint to see things my way but I know that it just is not going to happen.

Many folks feel that the US Mint produces collector coins for collectors. The reality is that the US Mint Collector Coin Programs are nothing more than a money making enterprise that the US Government, specifically the Treasury Department, has discovered as a "cash cow" which can pay for their operations AND return a small bit to the General Fund. In other words, its a business and like any other business, if a product does not sell, like the 2011 Presidential Proof Sets, then they certainly are not going to ramp up production for the 2012 versions. It better to have a sell out than be faced with the prospect of storing and then ultimately destroying a product which cost money to produce.

Of course, there will always be some folks left out in the cold to which RickMP already addressed with his "You snooze, you lose." statement.

I feel the exact same way.

If I miss out on an opportunity..........................I pay better attention next time.

 

The US Mint also offers a very nice "Subscription Program" just for these annual sets.

 

RE: "In other words, its a business and like any other business, if a product does not sell, like the 2011 Presidential Proof Sets, then they certainly are not going to ramp up production for the 2012 versions. It better to have a sell out than be faced with the prospect of storing and then ultimately destroying a product which cost money to produce."

My take is that since the Mint stop producing these Presidential dollars en masse for 2012, this all of a sudden made the sets more desireable because of the lower mintage. They underestimated the public's interest in these 2012 sets especially since they apparently made too many 2011's. The problem is we don't know the mintage of these or how many more 2011 sets are left. But I agree it's better if they are sold out.

I had to buy the 2012 Proof set on the secondary market at a higher price. But the quality is soooo much better than the common ones.

 

That would be a good approach. Yet, considering the time value of money, it would be nice if the mint were more organized and you could trust what they tell you.

 

I thought I subscribed, but I was never billed and they never confirmed it.

You could always spend the extra $15 and get a complete proof set. What would the difference be? You still get the proofs you want.

 

Here are the latest Mint Stats

http://www.numismaticnews.net/article/mint-stats-new-set-treated-like-its-old-hat-already

 

I'm a big fan of the US Mint and feel they do a great job of balancing all they are charged with. When they can't sell all of the 2011 issues, why keep making 2012 issues?

 

No matter what the mint does, no matter how they do it, someone somewhere will always feel as though it is a personal attack.

 

I'm sure that what was said at the beginning of the year was well intended and the truth.

At the time that is. How were they to know that the 2011 would continue to linger until December?

Coin purchasing is a very tricky market and if you'll take the time to study past trends, you'll see exactly when is the time to buy. Take the current year for example. 2011 still has plenty in stock and 2012 is (supposedly) "Sold Out" or at the very minimum, since sold out assumptions often show back up again, simply not available for ordering.

I'll predict that sales for the 2013 sets will be very brisk when the product is released. So brisk, that it's possible that the mint "could" fire up the presses again if early enough in the year. If this happens, 2013 could end up like 2011. All because 2012 is currently unavailable. A lot of buyers, tend to react to a situation instead of actually be proactive before the situation.

This is not the first time that this has happened folks and it won't be the last. Primarily because there are consistent buyers out there that order a set amount every year regardless of current market trend. These are the folks that end up selling at a nice premium to those that waited until it was too late. Sure, they could lose some money every now and then (like those that loaded up on 2011's) but more often than not, they end up pushing a profit.

For me, I wouldn't worry too much that I don;t have a 2012 Presidential Proof Set since regardless of what the crush is today, I know that in 3 or 4 years they'll be available at below cost. A smart buyer that does not have one of these but really wants one should simply wait.

 

Thanks, McBlzr. Based on this above information, the US Mint produced almost 300,000 sets of the Four Proof Presidential Dollars for 2011 and only about 250,000 sets for 2012 before they were supposedly "sold out."

Based on my great powers of deduction, I can conclude that there about 50,000 LESS sets out there for this year and to me that makes the 2012 set worth more for collectors. Wherever you can find them, I'd get one.

I wouldn't chance it by waiting 3-4 years from now when they might be selling for less as someone else posted here. On eBay, it looks like they are going for a slight premium based on the US Mint lack of inventory: http://www.ebay.com/sch/i.html?clk_rvr_id=426135189383&_nkw=presidential+mint+proof+set+2012+&_trksid=p5197.c0.m627

 

a lot of coins go for a premium right after they go off sale only to then revert to a lower price later on. many of the commem dollars follow that pattern. ALL of the state quarter proof sets did that. some went way up and now all but a couple trade for near melt. the trick is picking which ones will do well later on. I don't think any Pres dollars have a good upside.

 

My thoughts are that if the US Mint knowingly or inadvertingly creates some kind of "shortage" there will reason collectors or hoarders will pay more. Typical supply/demand forces at work here.

Look at the 2009 P & D nickles. The uncirculated P's are now going for over $40 a roll and the D's are over $15 a roll, at least on eBay. Been this way since 2010 ever since the US Mint drastically reduced the mintage.

http://jeffersonnickelguide.com/jefferson-nickel-mintage/

http://www.ebay.com/sch/i.html?_nkw..._odkw=US+2009+nickel+roll&_osacat=0&_from=R40

 

For anyone desparate to buy one of these sets, try Skyline Coin & Currency. They are offering them below the Mint's site price, especially if you order 10 or more sets. No limit. Even though they charge more than the Mint for shipping, it still comes out less money.