Wednesday, June 19, 2013

2013 Kennedy Half Dollar Bags and Rolls

Tomorrow, June 20, 2013 at 12:00 Noon ET, the United States Mint will begin sales of circulating quality 2013 Kennedy Half Dollars in bag and roll quantities. The half dollar denomination was last produced for distribution to circulation in 2001. For each subsequent year, the coins have only been minted in limited quantities and distributed to collectors within numismatic products.

2013 Kennedy Half Dollar

The available products options for the 2013 Kennedy Half Dollar will include a two roll set and a 200-coin bag. The two roll set includes one 20-coin roll from the Philadelphia Mint and one 20-coin roll from the Denver Mint, available at a price of $32.95 per set. The 200-coin bag contains 100 coins each from the Philadelphia and Denver Mints and is priced at $139.95 per bag. These prices are unchanged from the levels of the previous year.

The wrappers and canvas bags carry indications of the “P” and/or “D” mint mark along with the face value of the contents.

The US Mint has stated that these products will remain available for one year from the initial on-sale date or until inventory is depleted prior to the one year time frame.

Recent circulating coin production figures show that the Philadelphia and Denver Mint have struck 1.8 million circulating quality half dollars each for the year to date. This is amount is roughly in line with the mintages seen over the past five years of the series. Demand for circulating quality half dollars within numismatic products seems to have found a consistent base level of demand.

The Kennedy Half Dollar may see increased attention and demand next year, when the design reaches its 50th anniversary. The US Mint has conducted a survey to evaluate special sets which may potentially be issued in 2014. Such surveys have been the precursor to special sets or coins issued for the American Silver Eagle and American Gold Buffalo series.

The survey mentioned a wide range of potential 2014 Kennedy Half Dollar 50th Anniversary Sets under consideration. One possibility is a four coin set including reverse proof 90% silver half dollars with the “P”, “D”, “S”, and “W” mint marks. Another interesting possibility called for a three coin set including proof, reverse proof, and uncirculated 90% silver half dollars with different mint marks. Other possibilities called for two, three, or four coin sets with various combinations of clad and silver half dollars with varying finishes and mint marks.

Other News

gold-buffaloThe United States Mint has provided a release date of August 8, 2013 for the 2013-W Reverse Proof Gold Buffalo. This coin will be issued to celebrate the 100th anniversary of James Earle Fraser’s American Buffalo design.

The Mint has previously indicated that the reverse proof coin will be minted to demand. As with other numismatic gold products, the pricing will be determined based on the average market price of gold during the weekly period leading up to the release. Unless the Mint plans on adding another column to the pricing grid, it would seem that the price of the reverse proof coin will be the same as the standard proof, which was released on May 23.

In other developments, the US Mint has started posting weekly numismatic sales figures on their website. The information can be found in this section along with reorganized figures for other categories.

The figures provided are for cumulative sales, without an indication of the change from the prior week. I will continue to publish the regular weekly numismatic product sales report on Coin Update News, which calculates the weekly changes and provides relevant commentary and comparisons.

Monday, June 17, 2013

2013 First Spouse Gold Coin Design Candidates

Continuing with the theme of the last post, I would like to share images for the leading design candidates for the 2013 First Spouse Gold Coins. There will be a total of five different coins honoring the spouses of the 29th to 32nd Presidents, since Woodrow Wilson had a first and second wife while in office.

Once again, it seems that the First Spouse Coins will be released late this year. For the 2012-dated issues, the US Mint had provided design candidates to the CFA and CCAC in November 2011. The final designs selections were announced in April 2012, however due to production problems it would take until nearly the end of the year for the first of the coins to be released. All four issues were released in rapid succession between the dates of October 11, 2012 and December 20, 2012.

For the 2013-dated issues, the US Mint provided design candidates for review in March 2013. After both the CFA and CCAC rejected all candidates for the reverse of the Edith Wilson coin, a second round of candidates was provided for review in April. Since this time, there has not been any announcement of the final design selections and the five coins remain listed on the US Mint’s product schedule under “On Sale Date To Be Determined”.

The design recommendations provided by the CFA and CCAC are shown below. Previous Coin Update News coverage of the reviews can be found here and here. The article on the second round of Edith Wilson designs can be found here. Visit these articles to view all design candidates provided by the US Mint.

Ida McKinley

The CFA and CCAC both provided the same recommendations for the obverse and reverse designs of the Ida McKinley First Spouse Gold Coin. The reverse design was a strong favorite of the CCAC over an alternate which showed her working at a bank. The CFA did request that her right hand should be extended though the border motif similar to the depiction of her left hand.

Edith Roosevelt First Spouse Gold Coin

Both groups recommended the same obverse design for the Edith Roosevelt First Spouse Gold Coin, which was based on a portrait favored by President Roosevelt. Among the reverse design candidates was one image of the First Lady introducing her husband to Augustus Saint-Gaudens. Despite some positive comments from members of the CCAC, the official recommendation was made for an alternate design  representing the renovation of the White House in 1902.

The CFA did not support any of the reverse design candidates, but suggested modifications to the same design favored by the CCAC. The CFA suggested a more accurate depiction of the column capital, possibly shifting it to the left, removing the rose element, and moving “1902″ to the space previously occupied by the rose.

Helen Taft First Spouse Gold Coin

The two groups offered different recommendations for the obverse design of the Helen Taft First Spouse Coin. The CFA favored the candidate shown above left, while the CCAC favored the candidate shown above right.

reverse

The same reverse design candidate featuring an abstracted cherry blossom motif was a strong favorite of both groups.

Ellen Wilson First Spouse Gold Coin

Both the CFA and CCAC offered the same recommendations for the obverse and reverse designs of the Ellen Wilson First Spouse Gold Coin. For the reverse, the CFA suggested refining the design by clarifying the relationship between the White House and the roses by reducing the scale of the roses or moving the White House away from the border.

Edith Wilson Obverse

Both groups offered the same recommendation for the obverse of the Edith Wilson First Spouse Coin. As mentioned, there were no recommendations offered for any of the original reverse design candidates. The CCAC made a motion to request more reverse design candidates with a potential theme of the First Lady’s service during the President’s infirmary. The US Mint complied with the request, providing an additional four candidates for review.

new reverse

The CCAC recommended one of the candidates from the second round of designs, shown above left. They felt that this design effectively conveyed the theme of the First Lady helping the President in the execution of his duties following his stroke. The CFA found the new designs unsatisfactory and instead recommended one of the original candidates, shown above right, with modifications. They suggested placing the First Lady’s hand on the President’s shoulder and enlarging the size of the paper being signed so it appears as an official document rather than a checkbook.

Thursday, June 13, 2013

2014 Presidential Dollars Design Candidates

With a lull in the United States Mint’s numismatic product release schedule, I wanted to take a few posts to share images of some of the design candidates for upcoming coins. The first post will take a look at the leading designs for the 2013 Presidential Dollars, which will feature 29th to 32nd Presidents of the United States.

Within the design selection process, the US Mint provides the Commission of Fine Arts (CFA) and Citizens Coinage Advisory Committee (CCAC) multiple design candidates for each coin. The two groups review the candidates and provide an official recommendation. Then, it is up to the Secretary of the Treasury to make the final decision after weighing the input provided by the US Mint and the recommendations of the CFA and CCAC.

Design candidates for the 2014 Presidential Dollars were provided to the CFA and CCAC in April of this year. The coins will honor Warren G. Harding, Calvin Coolidge, Herbert Hoover, and Franklin D. Roosevelt. There were five to eight candidates provided for each coin. The recommendations of the two groups were mostly in agreement, with the exception of the final coin honoring Franklin D. Roosevelt.

Previous Coin Update News coverage of the reviews can be found here and here. The first article includes images of the full slate of candidate designs for each coin.

Warren G. Harding Presidential Dollar

Both groups recommended candidate WH-07 for the Warren G. Harding Presidential Dollar. The CFA called it “the most compelling portrait” but did request that the curved edge of his should should be adjusted to be concentric with the coin edge. Voting at the CCAC was somewhat close between this candidate and an alternate. During discussion, one member commented that the curved edge of the shoulder was the artist’s intention to pull the image away from the text and should be kept that way.

Calvin Coolidge Presidential Dollar

Both groups were also in agreement for the Calvin Coolidge Presidential Dollar, recommending candidate CC-05. The CFA called it the superior design and best likeness of the President. Members of the CCAC provided similar comments although a members showed a preference for an alternate design.

Herbert Hoover Presidential Dollar

Both the CFA and CCAC recommended design candidate HH-05 for the Herbert Hoover Presidential Dollar. The CFA called it the best portrait the the least unhappy appearance. Voting was somewhat close by the CCAC, with some members preferring an alternate design.

CFA Roosevelt ccac-roosevelt

The two groups differed for the Presidential Dollar depicting Franklin D. Roosevelt, who also currently appears on the dime. The CFA made a recommendation for candidate FDR-02 as the most recognizable image. The CFA recommended candidate FDR-01, which depicts the President with glasses and near the end of his Presidency.

The US Mint has typically announced the official design selections for each year’s Presidential Dollars in December of the preceding year.

Tuesday, June 11, 2013

US Mint Circulating Coin Production May 2013

PennyThe latest United States Mint circulating coin production figures are now available. For the fifth month in a row, production levels show an increase compared to the year ago period.

For the month of May 2013, the US Mint stuck 1.084 billion circulating quality coins at the Philadelphia and Denver Mint facilities. This represents an increase of 32.20% compared to the year ago period of May 2012 when 819.86 million coins were struck.

Total production for the year to date has now reached 5.289 billion coins. This amount is up by 37.66% compared to the comparable year ago period.

The table below shows a breakdown of circulating coin production for each denomination at each mint facility. Separate totals are shown for the month of May 2013 and the total production for the year to date.

2013 US Mint Coin Production Figures
May 2013 YTD 2013
Lincoln Cent – Denver 324.40 M 1,515.20 M
Lincoln Cent – Phil. 371.20 M 1,655.60 M
Jefferson Nickel – Denver 55.68 M 292.56 M
Jefferson Nickel – Phil. 50.88 M 255.84 M
Roosevelt Dime – Denver 94.00 M 447.50 M
Roosevelt Dime – Phil. 93.00 M 500.50 M
Quarters – Denver 51.60 M 330.00 M
Quarters – Phil. 43.60 M 254.60 M
Kennedy Half – Denver 0 1.80 M
Kennedy Half – Phil. 0 1.80 M
Native Am Dollar – Denver 0 1.82 M
Native Am Dollar – Phil. 0 1.82 M
Pres Dollar – Denver 0 10.64 M
Pres Dollar – Phil. 0 19.45 M
Total 1,084.36 M 5,289.13 M

As usual, the cent accounted for the majority of overall production. The Philadelphia and Denver Mint facilities struck a combined 695.6 million cents during the month, representing 64.14% of all production.

The monthly production totals for nickels, dimes, and quarters remained around their typical monthly levels for this year. These three denominations accounted for the balance of circulating coin production during the month.

There were no circulating quality half dollars or $1 coins reported as struck during the month.

Production totals by design for the America the Beautiful Quarters and Presidential Dollars appear below. As mentioned in the past, these production totals by design should be considered preliminary until the close of the year. In the past, the US Mint has reserved the right to restart production based on demand and production capacity.

2012 US Mint Coin Production by Design
Denver Phil. Total
White Mountain Quarter 107.60 M 68.80 M 176.40 M
Perry’s Victory Quarter 131.60 M 107.80 M 239.40 M
McKinley Dollar 3.36 M 4.76 M 8.12 M
Roosevelt Dollar 3.92 M 5.31 M 9.23 M
Taft Dollar 3.36 M 4.76 M 8.12 M

Other News

goldThe weekly numismatic product sales report has now been published on Coin Update. The report includes the opening numbers for 2013 Mint Set, 2013-P Perry’s Victory Five Ounce Silver Uncirculated Coin, and 2013-W Uncirculated Gold Eagle.

Separately, it is possible that prices for the US Mint’s numismatic gold products will be decreased tomorrow. Over the past several weeks, prices have been moving back and forth as the market price of gold has fluctuated above and below the $1,400 level.

Based on the available data, the average weekly gold price will likely fall within the $1,350 to $1399.99 range. This is one tier lower than the range used to establish current prices. In the most likely scenario, the prices for gold numismatic products would be decreased as long as the Wednesday London PM Fix price is below $1,400.

Products impacted by the change would include the 2012 First Spouse Gold Coins, 2013 commemorative gold coins, 2013 Proof Gold Eagles, the 2013 Proof Gold Buffalo, and the recently released 2013-W Uncirculated Gold Eagle. Prices would be increased proportionally by $50 for each ounce of gold content.

It is also possible that the price for the US Mint’s single numismatic platinum product may be increased tomorrow. Based on the available data, the average weekly platinum price will likely fall within the $1,500 to $1,549.99 range. This is one tier higher than the range used to establish current prices. In the most likely scenario, as long as the Wednesday PM London Fix price is above $1,500, then the price increase would take place. The single product impacted would be the 2012 Proof Platinum Eagle, which would see its price increased by $50.

Weekly pricing changes have typically been made effective mid-morning on Wednesday.

Monday, June 10, 2013

2013 Great Basin Quarter Bags and Rolls

Today, June 10, 2013 at 12:00 Noon ET, the United States Mint will begin accepting orders for collectible bags and rolls containing 2013 Great Basin National Park Quarters. This will be the eighteenth overall release for the America the Beautiful Quarters Program.

Great Basin National Park Quarter

The reverse design of the coin features a single Bristlecone Pine tree and the rocky glacial moraines where the trees grow. These trees are among the oldest single living organisms known with some believed to have been alive for nearly 5,000 years. Their longevity derives from the harsh conditions in which they grow, resulting in extremely slow growth which creates very dense and resinous wood which does not rot but erodes like stone. The reverse was designed by Ronald D. Sanders and engraved by Renata Gordon.

The obverse of the coin features the 1932 portrait of George Washington designed by John Flanagan. The original appearance of the portrait was restored for the America the Beautiful Quarters Program.

The US Mint will offer the Great Basin Quarter numismatic bags and rolls in an array of different product options. These include the traditional circulating quality coins with the “P” and “D” mint marks which are also released for general circulation. Some offerings incorporate circulating quality coins bearing the “S” mint mark for San Francisco which are not released for circulation but only available within numismatic products.

Specifically, the products are the following:

  • 100-coin bags containing coins with either the “P”, “D”, or “S” mint mark priced at $34.95 each
  • 40-coin rolls containing coins with the “S” mint mark priced at $18.95 each
  • tw0-roll sets including one roll each of coins with the “P” and “D” mint marks priced at $32.95
  • three-roll sets including one roll each of coins with the “P”, “D”, and “S” mint marks priced at $46.95

For previous numismatic bag and roll offerings from this year, the most popular product option by volume has been the tw0-roll set, followed by the three-roll set.

There are no stated mintage limits or household ordering limits in place. The product pages indicate that these bags and rolls will remain available for one year from the original release date or until inventory is depleted, whichever occurs first.