Franklin Pierce Presidential Dollar Coin Cover

Today July 1, 2010 at 12:00 Noon ET, the United States Mint will release the Franklin Pierce Presidential Dollar Coin Cover. This will be the second release of the year and the fourteenth release overall for the American Presidency $1 Coin Cover series.

The cover will include two Franklin Pierce Presidential Dollars from the first day of mintage at the Philadelphia and Denver Mint facilities. These will be mounted on a display card within an illustrated envelope. The 44-cent Flag postage stamp is postmarked May 20, 2010, Hillsborough, NH, representing the circulation release date for the coins.

The Franklin Pierce Coin Covers are limited to production of 32,000 and priced at $15.95 each.

While it may partially be the impact of the slower summer months, I have been noticing that the US Mint’s subsidiary-type products have been experiencing sharp sales declines.

The most recent example is for the Presidential $1 Coin & First Spouse Medal Sets. The set featuring Franklin and Jane Pierce sold only 1,340 units in the opening sales period. This compares to initial sales of 2,362 for the previous set featuring Millard and Abigail Fillmore. The second previous set featuring Zachary and Margaret Taylor had debuted with sales of 2,702.

The two most recent Presidential $1 Coin Covers had recorded initial sales of 17,833 for the Millard Fillmore cover released on April 2, 2010 and 18,705 for the Zachary Taylor cover released December 30, 2010. It will be interesting to see how much of a decline is experienced for the Franklin Pierce cover. Dropping sales are likely an indication that some US Mint customers are getting bored of the current product line up or dismayed by this year’s higher pricing.

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Comments

  1. Anonymous says

    The price might be a factor, but since it only went up $1 it isn't too bad.

    I wonder how many subscriptions the Mint has sold for the Presidential Dollar Covers? That factor could come into play when it comes to determining how long the Abraham Lincoln cover remains available for direct sale to non-subscribers. Just to make sure I don't miss out, I will likely subscribe to the Presidential Dollar covers after the James Buchanan is released, and then cancel the subscription after Lincoln is released and shipped. I know that might seem like a low thing to do, but it would guarantee I get the Lincoln!

  2. Anonymous says

    The 2010 Mint Set is now listed and pictured in the "upcoming" section of the website. The picture did not change AGAIN, at least on the prototype pictured.

    I liked it so much better when the picture on the set each year was something different!

  3. JA says

    I know I'm not in the majority opinion when I say this but there are some products in the mint lineup that just appear much too overpriced for the average collector.
    I can certainly see the initial attraction to want to collect these for every single president and end up with a nice collection. But when you figure in other coins you want to collect, items going on and off, it isn't too long before you ask yourself:
    "What am I truly getting for my $14.95? just 2 dollar coins"

  4. Anonymous says

    Yup, $2.00 for $15.95, think I'll wait and get 'em on eBay next month for much less!

  5. Anonymous says

    Entrepeneurs hoping to make profits result in many of the sales. If you look at eBay prices for previous dollar coin covers, there simply ain't much interest for previous covers.

    So why should entrepeneurs buy 100s of covers when there's a chance of an overall loss?

    Collectors may buy 1 or 2. Entepeneurs buy 100s.

  6. Anonymous says

    True, the covers don't do much anymore. The early ones (Washington through Jefferson) did fairly well for a short time in mid-late 2007, but from 2008 onward they have done pretty much nil.

    The Van Buren cover sometimes does pretty well though ($40+), since it was the lowest-production (around 25,000 if I recall correctly) and does not show up for sale very often or in any kind of quantity.

    For some reason, the Mint did not end sales of the 2009 covers on June 30, 2010 like they ended sales of the 2008 covers on June 30, 2009. That resulted in artificially low sales numbers for the Van Buren and to a lesser extent the Jackson.

    Whatever the case, the Abraham Lincoln cover will be a hot seller and fast sellout. Look for a lot of speculation in that one. Even if the Mint increases production back to 50,000 units, they will still sell out and command a premium for a time.

  7. Anonymous says

    I don't care if only 50 sell, I don't want any of them!!!!!!!!!!! US Mint stinks, I say that because Moy himself probably lurks here in the shadows to see how angry the bread and butter collectors feel about the mint and its offerings.

  8. Anonymous says

    The Moy Toy is just that.A puppet for the Fed.His repeated ability to skirt around simple questions with political answers that don't answer the questions just shows that he is there to make a mystery out of what is fast becoming a very limited year for production selections.The Fed and congress are all doing the buddy system to feed the right sellers for maximum profits with no regard for the average collector.Hence, the rich get richer off of the poor collectors who just want a fair shake and can't get one.

  9. Anonymous says

    It is most interesting how only certain, select sellers can get their greedy paws into the pie. Is he political, you betcha.

  10. Anonymous says

    If you think the initial sales were poor and decreased for the current 'offering', just wait until the the next several are released, and looking into 2011, ultimate failure is forecast. The choice is resounding……..NO to uninspired junk being pushed out.

    The Mint should be honestly ASHAMED. To raise prices, whether .50, 1.00, or whatever in a depressed global economy is an abomination that has begun a groundswell of sales boycott. This is not what collectors want to do, but their choice is abundantly clear…….just say NO.

    The end of a old tradition is begining to focus…….and tears now swell the eyes.

  11. Anonymous says

    Here is a quote from Franklin Pierce which seems to be fitting for the US Mint.

    “There's nothing left . . . but to get drunk.”

  12. Anonymous says

    To the poster of the above, quoting Franklin Pierce – that is very timely, approptiate and funny… And it is true, thanks for the laugh this morning.

  13. JA says

    No I will not be buying the Gene Wilder Coin Cover.
    Maybe if it had Richard Pryor on the reverse side.

  14. Anonymous says

    I don't mean to change the subject again.But I would really like to know why there is no mintage report on the 2010 D nickels yet.There seems to be an outrageous premium on the D rolls and the P rolls have come down quite severely.If the mintage is as it was in 09.The Ds will be a higher mintage then the Ps.I really am quite surprised that The mint is not announcing the Mintage.Why is this and does anyone know.The P rolls may very well be the best deal out there in the long run if they become the lowest mintage in 50 some years.Do you know why this is Michael?I hope everyone has a happy 4th

  15. Anonymous says

    What a rip off. I'm pretty much done with mint products aside from the annual proof/mint sets.

    So when are we gonna start seeing some pleasing coins that actually circulate? How much longer are we gonna see one of the biggest crooks in US history on the dime? What will come next after the "America the Beautiful" UH OH, I might get sued for infringements, I mean the Park Quarters? A Heinz 57 varieties program? Does anybody know what it would take to get new designs for the nickel or dime?

    I like how the mint has all kinds of standards of what artists are qualified to create designs for coins. Are you kidding me? It just goes to show you that a degree and such doesn't necessarily translate into results. Most of these people who design our coins don't have any talent. They really need to open it to the public without all the fine print and qualification requirements. It's rather silly if you ask me, a good design is a good design.

    The only half decent coin we have is the shield cent, which is a throwback to early coinage. This years Sac isn't too bad either, but I don't care for the edge markings.

  16. Lasloo says

    Personally, I am a big fan of the First Day Coin Covers.

    But, honestly, only the 6 D.C. and Territory quarter covers from last year were the most unique and colorful and inspiring ones from the Mint.

    The Westward Journey nickels and Sacagawea dollar FDCCs were pretty good too.

    But the State and Presidential ones have just been ok… definitely not their best work. Weird that they did their best work on the territory ones… places that most of us probably have no real attachment… though, it does help in learning more about these places… useful things to know if you like to play along with Jeopardy or Trivial Pursuit! 🙂

    So, though the states and presidential covers aren't as good… as a fan, I'll still be collecting all of them. I only wish they had made some for the pennies last year and the new ATB quarters this year.

    But collecting these has made me more interested in seeing covers that other people and businesses have made over the years.

    Most, however, seem to be created around medals (rather than coins), but that in turn has gotten me into the medal side of numismatics which has been interesting.

    However, I have a really cool coin cover postmarked in '74 on Jefferson's birthday, and included both a first-year Jefferson nickel (1938 if I remember correctly) and a war-time nickel (composition was a bit of silver, manganese and copper). Lots of good info about Jefferson and nice pics and just a very cool cover.

    Oh, and I'm a sucker for the electroplated Presidential medal covers that PCS created in the 80s. I know… I know… worth nothing, right? But they are so much fun to flip through and read and examine. Cool stuff.

  17. Anonymous says

    They pretty much did make one for the 09 cents last year when they produced the Lincoln coin and chronicle.They should take a lesson from that sell out and put together some history like that set if they want to do good sales.These shrink wrapped poster cards are just kind of cheap in a way.I think that is why you don't see many go for a premium.One is really better off waiting until a complete series is over and purchasing the bulk lot at whole sale when dealers realize that they have lost their butts by buying 100 or more.That way you save on all the shipping costs for each individual purchase.

  18. Anonymous says

    When I first saw the design of the 2010 penny I was not impressed at all.When I got it in hand I was shocked at how wrong I was and how the design although simple was really quite pleasing to the eye.At first I said that there was no way I could live with this design for 50 or more years.But then I got it in hand and I know now even though I won't live fifty more years.The design was a good decision that will be a great design for years to come.The only thing I truly fear is the thought that Moy said nothing when asked if the cent would be discontinued.I think if our economy gets much worse.The 2010 may very well be the last year of the penny which would be a sad day for America.

  19. Anonymous says

    Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It's always nice when you can not only be informed, but also entertained!

    – John

  20. Anonymous says

    I have a Franklin Pierce gold coin and the edge lettering is not correct. The words that are there are not pressed in. What should I do?

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Franklin Pierce Presidential Dollar Rolls

The US Mint will begin sales of the Franklin Pierce Presidential Dollar Rolls later this week on May 20, 2010 at 12:00 Noon ET. This will represent the second release of the year for the series.

Franklin Pierce was the 14th President of the United States and served from 1853 to 1857. The obverse of the coin features his portrait with inscriptions indicating his name, “In God We Trust”, “14th President”, and “1853-1857”. The obverse was designed by Susan Gamble and sculpted by Charles Vickers. The reverse features the image of the Statue of Liberty designed by Don Everhart used for all coins of the series. The date, mint mark, and “E Pluribus Unum” appear on the edge of the coin.

Similar to other recent Presidential Dollar releases, the US Mint will offer 25-coin rolls from either the Philadelphia or Denver Mint. The coins are wrapped in US Mint branded wrappers which indicate the President, mint of origin, and face value of the contents. The rolls are priced at $35.95 each.

In a post from last week, a reader reported already receiving rolls of Franklin Pierce Dollars from the bank, even though the public release date for the coins is May 20, 2010. There have also been several rolls listed for sale on eBay described as “in hand.”

Presidential Dollars are the only series that banks currently have the ability to order from the Federal Reserve in unmixed quantities as new coins are released. A special ordering period extends three weeks before the public release date and two weeks after. Officially, the banks are not authorized to release the coins to the public until the release date, but some are either unaware or disregard this condition.

On May 20, 2010 at 10:00 AM ET, the US Mint will also be hosting a launch ceremony for the Franklin Pierce Presidential Dollar. This will take place on the grounds of Pierce Manse located at 14 Horseshoe Pond Lane, Concord, NH. A coin exchange will be available after the ceremony.

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Comments

  1. Anonymous says

    Someone once commented that Franklin Pierce looks kind of like a young Gene Wilder on this coin, and I can see that.

    So, when people buy those rolls from the Mint and they end up basically only worth the face value of the coins, you'll almost be able to hear him say…

    "You bought these rolls when the past indicated that they've all been worthless since Harrison, so you get NOTHING! You LOSE! Good DAY sir!"

  2. JA says

    I agree more and more that the Mint rolls are commanding less and less premiums and overall interest as the series continues is seriously waning.

    I subscribed to two rolls per set but I am going to be getting them from the bank from now on. I can't continue justifying the $50 exchange for $71.50 to my wallet.

    What is the Mint really doing to continue to entice us to use these coins anyway? There ought to be a way to order these at face value from someone even if it is for a limited time. Yes I know the roles of the Mint and the Fed which prevents this. I'm just giving the opinion of someone who actually wants to circulate these and collect some at the same time.

  3. Anonymous says

    Back when the Polk coins were released, it was stated that the Mint intended to make those available in the "Direct Ship" program, where you CAN buy them for face value (completely, since there is no s/h charge either).

    However, that never happened for Polk. In fact, NONE of the coins have been available in the program past Van Buren (and even HE was only available there for a VERY short time.) If you blinked, you missed the window.

    The Mint has never adjusted the 2-box limit on the Presidential Dollars, but the limit on the Native American Dollars was raised from 20 to 50 boxes at some point. Since the limit of 2 boxes is still adhered to, you'd think the Mint would offer some of the coins past Van Buren in the program. Any ideas why they don't?

  4. Anonymous says

    I would be happy if I could get just one of those people who are spending close to $400 for a Harrison roll to give me enough to recover my original investment in the Tyler rolls.

    I guess if I DO end up selling them for a loss, I can net the capital loss against gains from the gold coins, reducing my tax bill. However, if I just open the Tyler and Polk rolls and spend them, then no "sale" has occurred, and I would have to eat the entire loss.

    Maybe that's why you see people selling coin rolls and sets for less than the face value of the coins they contain. The tax benefit can be greater than the loss of the premium paid for those items.

  5. Anonymous says

    If some are selling the presidential tokens for less than face value maybe its because that is what they are worth. The mint would have been better off doing some type of clad dollar coin even though it might cost them 35 cents to make as opposed to the 15 cents it costs them to make a token dollar. Penny wise, pound foolish. Thats why some call it the U.S. gooberment mint with emphasis on GOOBER.

  6. Anonymous says

    They're NEVER worth less than face value! That's true no matter how ugly or stupid-looking they might be!

  7. JA says

    I can't say that I've ever seen a roll sell for less than face value. I'm assuming he was referring to selling for less than what was paid to the mint.

    Also, yes it is a shame no other rolls were made available through Direct Ship. Presumably there are hundreds of millions of each Presidential coin sitting in vaults. Why don't banks or the fed make these available to collectors or anyone else who wants to circulate them?

  8. Anonymous says

    Does anyone know whether the $4.95 postage fee can be avoided if you buy additional items with a box of direct ship dollars?

  9. Anonymous says

    I was sent a letter asking to complete a survey for the US Mint online. I was wondering if any other got this opportunity or if Michael would like to do a post on it?

  10. Anonymous says

    JA,

    Sorry for the confusion. Yes, I too have never actually seen the SALE price for rolls or coin sets less than the face value of the coins they contain. However, I HAVE seen sales prices low enough that by the time all of the seller fees and postage have been paid, there is less money left over than the face value of the coins that were sold.

    I guess that the potential tax benefit could exceed the loss of coin face value or Mint premium if you have sold other coins for capital gains. Maybe I should just end the hope that I might be able to recover my investment in the Tyler and Polk rolls someday and just dump them now for whatever they bring. I'll just net my losses against my gains. I hate having to do it that way, but if I just open the rolls and spend the coins for face, I can't recognize ANY of the loss since no "sale" has occurred. At least if I sell them intact, the rolls have the potential to remain available to any collectors who DO want them. I would hate to be responsible for taking special Mint products out of circulation.

  11. Anonymous says

    Uh-oh, gold's back below $1,200. Beware of the silly "Pop! Pop! Pop!" comments that are bound to resume!

  12. Anonymous says

    Breaking news, Gold falls below $1200!, is today the day that fix doesn't count?

  13. Anonymous says

    To Anonymous @ 8:26,

    That $1,195 pm fix today does count towards this week's price determination that will be made tomorrow morning, but it won't do any good since the prices earlier in the week were far too high to be skewed by that.

    The fixes that will determine next weeks' price begin with the Thursday am fix. However, gold spot is still dropping so we can always hope that it holds through the weekend so maybe the price will have a chance to fall a tier next week!

    I don't know, there's something about looking at the current price levels that just doesn't sit well with me. I didn't notice it at the previous tier so much, but now something has happened. It's almost like the present level has crossed that "invisible line" in my mind that goes from being reasonable to unreasonable. Maybe it's just me, but that was the price level that got me started thinking that maybe I should just abandon the Spouses now instead of dragging it out. When I have a hard time justifying buying the coins in my OWN mind, it's bound to weigh even heavier on my wife's mind. After all, she brings home some of the bread in our house, too. She pretty much lets me do whatever I want when it comes to buying coins, as she trusts my judgement. I've made money on them so far, but I would hate to have it turn around on me and end up losing some previous gains just because I didn't know when to quit!

  14. Anonymous says

    Gotta know when to hold up and know when to fold up.
    Get the Buchanan and Lincoln, hold the three prior Liberties and SELL SELL SELL the others!

  15. Anonymous says

    To commenter above. Keep the liberty subset going. If you don't have a good feeling about the rest of your collection it may be time to sell or trade or stop buying. Those who buy for investment usually start second guessing themselves. My personal approach is to primarily buy what I like and I have few second guesses. I like buffalos so that is what I buy. Some get caught up in the "low mintage equals large increase in value" mindset. That is only true if there is demand to go with it. There are some coins with mintages around a hundred thousand that go way up because there are a million people who want them. I have some very low mintage Chinese silver coins that I personally like but not very many want them, voila' no demand therefore no increase in value. I say keep buying gold coins as the economy is screwy.

  16. JA says

    I cancelled my mint subscription order for 2 mint presidential sets.

    Just can't continue forking over this kind of dough through the rest of the series.

    Will be getting all rolls (at face value) from my bank from now on.

  17. William says

    there are 20 dif finishes for 2006 using burnished blanks the secret is out here is what the mint didfor the 20 annivary silver eagle reverse proof,proof,18 dif unc with w mintmark sand blasted,matte,satin,roman.full stamp most of these coins have 2 dif finishes on each coin all are made on dif runs some have the same finish on both sides of the coin the mint will tell you how many 2006w unc coins where minted, what they will not tell you is how many dif versions of the 2006w unc where minted/ with a mintage of 466,000 divied by 18 is less than 26,000 of each coin minted 1995wproof 10,000 dollars and up with a mintage of 31,123 if you are smart enough and lucky enough to find the unc set of 18 dif 2006w unc silver eagles in ngc ms70 you will have one of the rarest sets ever issued from the us mint the price for this set will be a true record breaker at this time there is only 1 set known outside the us mint good luck hunting

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