The recent price reductions for certain silver numismatic products have been followed by prompt sell outs for the two 2012-dated products.
On May 3, the 2012 Annual Uncirculated Dollar Coin Set sold out. This product contains uncirculated examples of the four 2012 Presidential Dollars, the 2012 Native American Dollar, and the 2012-W Uncirculated Silver Eagle. As of last week, the set had recorded sales of 27,324. An updated figure should be available later today.
With this set sold out, the 2012-W Uncirculated Silver Eagle is no longer available from the US Mint in any format. The individual offering for the coin had sold out about two months ago with last reported sales of 202,504. Across the two options, the coin should represent a new mintage low for an uncirculated coin of the series with the “W” mint mark.
The collectible uncirculated Silver Eagle with “W” mint mark was introduced in 2006 when a combined total of 466,573 coins were sold across all product options. Overall sales were higher in 2007 and 2008, before the product was canceled for the following two years. The 2011-W Unc Silver Eagle had individual sales of 309,927 with an additional 100,000 coins included in the 25th Anniversary Set.
On May 6, the 2012-P Chaco Culture Five Ounce Silver Uncirculated Coin sold out. Last reported sales were 16,291. Once again, an updated figure should be available later today.
This product had a significant price reduction of $50 per coin, which may have spurred some heavy sales leading to the sell out.
The other 2012-dated Five Ounce Silver Uncirculated Coins had sold out at various dates over the past four months. This began with the unexpected sell out of the Hawaii Volcanoes design in mid-January. This coin had sold out after less than four months of availability and with final sales of just 14,863 out of the indicated 25,000 maximum mintage. Secondary market prices for the coin immediately rose and remain elevated.
The Acadia and Denali designs also sold out around the 15,000 level. The El Yunque design sold out around 17,500, which may be where the Chaco Culture design ends up.
Update: The weekly sales report is now available on Coin Update. The 2012 Annual Uncirculated Dollar Set shows cumulative sales of 28,368, and the 2012-P Chaco shows sales of 17,146.
2013-P Uncirculated 5 oz ATB Mintage Limit
The US Mint recently posted the preliminary product page for the upcoming 2013-P White Mountains Five Ounce Silver Uncirculated Coin, which contains an indication of a mintage limit of 25,000. Although still unconfirmed, it seems likely that the same number would be used for all of the 2013-dated numismatic releases. The initial production limits for the bullion versions still have not been provided.
The numismatic mintage limit is the same amount used for the 2012-dated releases, although actual production was lower.
It seems probable that production and orders may be higher for the 2013-dated releases. Following unexpected sell outs and secondary market appreciation, the next coins in the series tend to see a boost in demand from some collectors who missed out. Also, the significantly lower pricing of $179.95 per coin and the recent renewed interest in silver should bolster sales.
Higher sales for the 2013 designs would help to solidify the low mintage status of the 2012 designs.