The United States Mint has now sold out of every product option for the circulating quality 2012 Native American Dollars. The theme for the coin was “Trade Routes in the 17th Century” and the design depicted a Native American and horse in profile with three horses running in the background to represent the historical spread of the horse.
Sales of circulating quality 25-coin rolls, 250-coin boxes, and 500-coin boxes originally began on April 26, 2012. A little under three weeks later on May 14, 2012, sales of 100-coin bags began. Each option was available containing coins from either the Philadelphia or Denver Mints, carrying the “P” or “D” mint mark.
All eight of the product options have sold out, with the 25-coin rolls the last to go. The most recent sales figures are shown below, along with a tally of the total number of coins distributed through the products.
|2012 NATIVE AMERICAN $1 COIN ROLLS|
Of the total 3,506,175 coins distributed, there were 1,763,350 coins from the Philadelphia Mint and 1,742,825 coins from the Denver Mint. The US Mint’s reported circulating coin production figures actually show a total of 5.88 million of the coins struck. I have no explanation for the difference between the number struck and the number distributed.
Whatever the mintage level may be, it is significantly lower compared to previous issues of the series. The 2009 coin featuring the three sisters method of planting had a combined mintage of 74.9 million. This was followed by a combined mintage of 80.78 million for the 2010 Great Law of Peace design and 77.56 million for the 2011 Wampanoag Treaty design.
The higher mintages for these years were attributable to the US Mint’s Direct Ship Program, which used to allow business and consumers to order the coins at face value with no charge for shipping. The program was responsible for distributing several hundred million $1 coins, including the bulk of the mintage for Native American Dollars. The program was altered on a few occasions after reports of abuses and quietly canceled in early 2012. The end of the program closely followed the Treasury Department decision to cease production of Presidential $1 Coins for circulation.
For 2012, the only outlet for the circulating quality Native American Dollars was through numismatic bags and rolls.
The weekly numismatic product sales report is now published on Coin Update News. This report contains the opening figures for the 2013-P White Mountain National Forest Five Ounce Silver Uncirculated Coins, which seem to have benefited from the lower pricing.
Based on the available data, it is likely that there will be another price decrease for the United States Mint’s numismatic gold products. Prices for these products are based on a gird and may be adjusted as frequently as weekly based on changes in the weekly average London Fix prices of the metal.
The average weekly price for gold is currently within the $1,350 to $1,399.99 range. This is one tier lower than the range of $1,400 to $1,499.99 which is used to establish current prices.
In the most likely scenario, as long as the Wednesday PM London Fix price is below $1,400, then a price decrease should take place. Prices would be decreased proportionally by $50 for each ounce of gold content. Price changes are usually implemented around mid-morning Wednesday.
Current numismatic gold products include the 2012 First Spouse Gold Coins, 2013 commemorative gold coins, and 2013 Proof Gold Eagles.
The lower tier would also serve to establish the price for the 2013 Proof American Gold Buffalo coin, which is scheduled for release on May 23. If the lower pricing tier goes into effect, the price of the offering would be $1,740.