Grover Cleveland (First Term) Presidential $1 Coin Cover

Sales of the Grover Cleveland (First Term) Presidential Dollar Coin Cover will begin at the US Mint tomorrow June 19, 2012 at 12:00 Noon ET. This will be the 22nd release within the ongoing American Presidency $1 Coin Cover series.

Each cover contains two Grover Cleveland Presidential Dollars from the first day of production at the Philadelphia and Denver Mint facilities. The two coins are included within an illustrated envelope which contains a portrait of the President Cleveland and a postage stamp cancelled on June 19, 2012 at Caldwell, NJ.

The cancellation date is the same as the product release date for the cover. The previous cover featuring Chester Arthur had included a cancellation date which was between the first release of the coins and the release date for the cover. It seems that the Mint has now settled on using a cancellation date to coincide with the release date of the cover.

The production limit for the Grover Ceveland (First Term) cover is 22,000 units. Pricing is set at $19.95 per cover.

Previous American Presidency $1 Coin Covers remain available for sale from the US Mint going back to the 2009 William Henry Harrison Cover. Across this range of thirteen different covers, pricing and production limits have varied.

Sales figures range from a high of 30,129 for the longest available William Henry Harrison cover to a low of 14,420 for the most recently released Chester Arthur cover.

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Comments

  1. TMM says

    Hi Michael,

    While Harrson is the longet available FDC, I believe the Lincoln FDC has the highest mintage – 33816 as of the most recent update…

  2. Brad says

    Right, the Lincoln cover will eventually sell out the maximum of 37,000 units. It’s being chipped away at slowly but surely.

    I wish the Mint had included these covers in their re-pricing tactics and marked them back down to the original price of $14.95. But, even if they did I still probably wouldn’t bother with them anymore. I never did get over that horrible re-design to include that hideous black bar on the bottom and shrinking the portrait down to a mere fraction of what it once was! The new logo should have been in a black box in the corner (or on the back side, even), and the portrait should have remained large. That way the entire set would match! Now, they just don’t look good together.

  3. Dave in CT. says

    TO BRAD @GEORGE,

    Thank you. That was really nice. You guys do indeed have character.
    So nice that people can make a mistake and recognizing that mistake,
    own up to it in a proper time frame and admit it was mistake.
    I am really touched that we can have civility here and that life’s lessons can be taught by both, the young and the old. That learning to read
    and write a second language can be difficult. I just passed my Spanish classes in high school, and found it comforting that many others were found it difficult. Again guys, thank you @ Alvaro appreciates it too.

    I hope Julie Rizzoli ( ? ) will find her way back, I enjoyed her Swiss posts.
    I remember she got upset and really went off with her remarks, but others would have done the same in regards of her treatment from some here. Not that I am condoning her language, but some of the guys were hurtful to her.

    Poitr, Good going sir, keep it up, thanks.

    Now for some coin talk and and a 71 CUDA in my back pocket !

  4. george glazener says

    Coin Vault has the SSB sets for 89.95….Get ’em before they’re all gone..!!

    BTW, what is the purpose of these “coin covers”? I’ve never understood them.

  5. Hidalgo says

    I just received my 2012 US Mint uncirculated sets. These are really awesome coins! The Native American dollars looks as good as the pictures I’ve seen. The Hawaii ATB quarter has a lot of details which somehow makes it hard to figure out what it’s all about. Overall the US Mint has done a great job with the 2012 designs. :o)

  6. george glazener says

    Yep, they are exquisite. And you ought to see the Silver Proof Set that just came in the mail. OMG, I think I’m in Heaven..!

  7. says

    I wouldn’t be so quick to dismiss the presidential dollars. To be frank, it’s kind of the Mint’s unsung success story of 2012.

    You’ve got the AtB silver coin sales slumping, the AtB quarter production falling, the First Spouse coins remain unreleased, revenues are going off a cliff due to penny and nickel production costs… but the one bright spot, IMO, is the unexpected “comeback” of the dollar coin program. Somebody out there likes these coins, given how well the new releases are selling, even if most collectors don’t see a lot of potential for premium development down the road.

  8. george glazener says

    @Samuel; No, the US MINT 2102 Silver Proof Set. Got it today. Looks really great..! I haven’t tried any of the RCM products yet.

    @CO; yes, I think the 2012 Presidential Dollars are going to be sleepers. We’re going to drift out of this current boring phase next year w/ the likes of TR, and then completists will go back for Cleveland and Arthur and not be able to find them.

  9. guama says

    I could never understand these coin covers. $20 for 2 coins? Much profit for the mint. I used to buy a roll at the bank for almost that much.

  10. Shutter says

    BTW, what is the purpose of these “coin covers”? I’ve never understood them.

    The purpose is to get you to pay $20 for $2 in coins and a cancelled ¢45 stamp that is completely irrelevant. It would have been nice if the Mint got USPS to issue relevant presidential stamps on the same day and use them along with First Day Of Issue cancel. That way they could have sold them to FDC collectors as well.

  11. Dave in CT. says

    Captain,

    Question here for you. I returned all my presidential dollar rolls last month
    to one of my banks that I use. I had roughly 10 each, and 8-10 terms. Did I make a mistake returning these ? All were in rolls. (bank).
    I also collected and distributed these when they were released and used them in commerce. YES, the faces on some of the cashiers were fascinating. Always were being carefully looked at., People in general that I have noticed, are just blind to our newer coinage. Remarks I have received go as follows, Kool !, Are these real, Is this gold, Is this a slug, How much is this coin ? You probably get the picture. I also like to hand them out. Cap, let me know if you have time, thanks.

  12. says

    Dave,

    It depends why you kept them in the first place.

    I doubt the coins will be worth a whole lot to collectors, as there are millions of even the new releases available. My main reason for calling it a “success story” is because Mint sales of the coin are so high; there are a lot of “casual” collector types out there who seem to genuinely like the coins.

    But do I think these things are going to carry a lot of premium? No. Maybe the most famous presidents like Lincoln, but even that is a stretch.

  13. Hidalgo says

    @George – I totally agree. I received my 2012 silver proof set. Just beautiful, especially the ATB quarters and the Native American dollar. Despite all the complaints I see on this blog, the US Mint has really been producing some beautiful coins recently. It is the beauty of the artwork, not potential appreciation of the coins, that keeps me going on as a coin collector.

  14. Dan says

    In a few years (if not sooner) these Presidential FDC’s will be found on eBay for $2.50 each or so, so I will wait until then if I ever decide I need to have them in a collection. Now if the mint would buy back my original quarter FDC’s at issue price I would be happy to sell them the product, but that will never happen.

  15. ClevelandRocks says

    Nice the Mint is still selling stuff from 2009!
    Maybe they will sell me a 2009 UHR?

  16. says

    Hidalgo,

    You’ve hit upon one of the main reasons I like the AtB series so much. It has some of the best non-classic style designs I’ve seen from the Mint in years. I’ve had the opportunity to see the El Yunque proof quarter in the 2012 Birth Set that one of my friends picked up and am eager to see the rest.

  17. Broooster says

    ***Off Topic***

    All the stink about only 100K 25th Anniversary ASE Sets, but yet, here we are, almost 2 weeks into sales of the San Fran ASE set and we have not hit 150K yet, I am actually surprised.

  18. Brad says

    While we’re off-topic, it looks very likely that the prices of the gold and platinum coins will be raised on Wednesday, unless spot tanks again in time for the Wednesday pm price fix to prevent it. If anybody has been sitting on the fence trying to decide whether to buy or not, you might want to place your order soon.

    The platinum proof coin only has a few hundred left. While I don’t think it will ever be worth much more than the value of the platinum it contains, it IS a pretty coin. I’d probably buy it myself, but I have to keep funds available for the First Spouses (if the Mint ever decides to release them, that is!)

  19. says

    Broooster,

    At this point, I am beginning to question whether sales will even break 175K now. It’s possible a “final rush” on the last day of sales might do the trick, but I don’t see them going to 175K if sales maintain their current pace and there is no last day rush.

  20. Brad says

    Captain,

    I hope you’re right, but I doubt we’ll be lucky enough to get a final number less than 200K. Still, even that won’t be a deal-breaker. Any number 250K or less will allow these sets to retain and increase in value regardless of what silver spot does.

    The last day surge could be 30,000 units or so, but probably no more than that. The first-day rush was mostly from those who plan to have the coins graded with the “First Strike” or “Early Release” designation. They wanted to get their orders in the queue as soon as possible for that purpose. There will be no such motivation on the LAST day of sales. That will be reserved for the “gee, maybe these sets might be a good buy after all” crowd. Heck, I might even order a few more myself on the last day!

  21. fosnock says

    @Brad

    Thanks for the info, hopefully you are right and the dealers don’t come back for seconds

  22. says

    New sales report on CoinUpdate is still showing strong sales for Grover Cleveland!

    Brad,

    Don’t go too overboard when buying extra 75th anniversary sets. The main thing working against investors on these sets is 1. There was no four hour sellout, and 2. People had about a month to order.

    In other words, most of the people who really wanted one should be able to get one. I have always suspected part of the demand for the 25th anniversary sets were driven by people who wanted one but could not get it; there is no similar dynamic in play here. I think this set will eventually do well on the secondary markets, much like the 2006 set, but I do not think we will see anything similar the meteoric premium growth of the 25th anniversary sets or the more popular Perth silver dragon sets by way of comparison.

    On the 2011 platinum proof coin, I agree it’s a great piece. Had I more money to play with I’d probably get myself a second one, the artwork is top notch.

  23. Wes says

    That final day for ordering the SF mint 75th anniversary coins should be interesting. If the number is below 200,000 there may be a rush of last minute buyers as dealers, and flippers could still put in massive orders. Not to mention collectors that bought one set just to have one, buying two or three more sets.

  24. Brad says

    Captain,

    Yes, I understand all of that. I know this set won’t be a fast-money item, so that’s not what motivates me. The 20th Anniversary set was available for 2-1/2 months, even with a stated 250,000 limit. Within a few months time after sellout, it was selling for up to 6X the $100 issue price for loose sets, and up to 9X issue price for sealed ones. This one could very well have fewer sets made than that one, but with one less coin per set and an extra $50 added to the issue price, it won’t see the same multiples on the secondary market. But, it could very well end up being at least a money-doubler in 2 or 3 years. That’s a better performance than what any of my banks would pay me if I left the money in a savings account or put it in a CD. And, the coins will be a lot prettier to look at, too.

    So, I haven’t decided how many sets to buy, but I will definitely have extras on hand for later.

  25. Dave in CT. says

    Captain, thanks, they were being stored for the future, hoping to get 2/3x what I paid for the sealed roll.

    As for the sales of this 75th set, Just seems what CO has been writing here, makes allot of much sense. I also say this, their isn’t as many collectors now as we would like to see and the hobby doesn’t have as many
    ASE collectors as you would think. Ive heard stories they’re may be 500k ASE hobbyist worldwide, or more, then take into count, the economy, the uninformed, and the rest that are sitting this one out, or are just not collecting this variety, and then take the final sales figures along with some common sense (how many have ordered 2/more) and one might get a rough
    idea the real number collected. But my reasoning could also be way, way off.

  26. gumbyen says

    Just wondering if the mint has to legally issue the Spouse gold coins in 2012? Any chance they could cancel the program? They certainly can’t be making much on these low mintages.

  27. says

    Gumbyen,

    Given how long the program has gone on, I don’t think it will be cancelled now unless we hit a point where production costs exceed revenues from sales of the coins. I have no idea how to judge whether we’re nearing any such point, and am inclined to doubt this is happening.

    They have the first spouse coins listed as “TBA” so presumably they will announce some dates for us sometime soon.

    What worries me more is the platinum eagle. As Michael has mentioned in his May 30 post, we don’t even have a design yet. December 31st release date, anyone? 😉

  28. T1 Browserman says

    off topic

    is there currently or will there ever be platinum BULLION 1oz ? Answer: NO

    should there be 5 oz ATB BULLION going forward ? Answer: NO

    is there a platinum NUMIS. 1oz ? Answer: YES

    should there be 5 oz ATB NUMIS. going forward ? Answer: YES

    Now the goverment is looking at palladium as an ‘in between’ eagle since it has undergone price corrections, as it once was more costly than platinum; but at its last close of $626 / oz I could only imagine what its final retail ? $899.95 +4.95 S&H ? Is this for the collector that cannot afford the Au or Pt eagles ? I would rather save the few hundred dollars and buy platinum and rather than buy another 2011, I will wait for the 2012 ‘common defence’ before splurging on this hit or miss offering.

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