The United States Mint will begin sales of the Grover Cleveland (Second Term) Presidential Dollar Coin Cover today December 18, 2012 at 12:00 Noon ET. This will join the coin cover issued for Cleveland’s first term released earlier this year on June 19.
Since Grover Cleveland served as President during two non-consecutive terms, the authorizing legislation for the Presidential $1 Coin Programs specifies that two separate coins must be issued. This also results in two sets of corresponding numismatic products.
This cover represents the 24th release within the ongoing American Presidency $1 Coin Cover series. Each cover contains two Grover Cleveland (Second Term) Presidential Dollars from the first day of production at the Philadelphia and Denver Mint facilities. The coins are mounted within an illustrated envelope which features a portrait of the President and a postage stamp canceled on December 18, 2012, Caldwell, New Jersey.
The production limit has been established at 22,000 units. Pricing is $19.95 per cover.
Based on the figures from the latest weekly sales report published today, the previously released 2012 Presidential $1 Coin Covers have reached sales of 15,680 for Chester Arthur, 14,053 for Grover Cleveland (First Term), and 12,896 for Benjamin Harrison. Each of these has a production limit of 22,000 units.
Potential Price Decrease for Numismatic Gold Coins
Based on the available data, there is a possibility that the prices for the United States Mint’s numismatic gold products may be decreased tomorrow. This would be the first pricing action in nearly two months.
The average price of gold for the weekly period will likely fall within the $1,650 to $1,699.99 range. This would be one tier lower than the pricing range currently in effect for US Mint numismatic gold products. The determination of a potential pricing change will likely rest on the Wednesday PM London Fix price. If this price is below $1,700, then a price decrease will take place. If this price is $1,700 or above, no pricing change will take place.
The US Mint generally determines weekly pricing changes based on the average London Fix prices from the prior Thursday AM to the current Wednesday AM. As a second criteria, the Wednesday PM price must agree directionally with the change. This additional criteria was created to reduce the number of price changes.
Any price change would impact the currently available First Spouse Gold Coins, Proof Gold Eagles, and Proof Gold Buffalo coins. It would also determine the opening price for the Frances Cleveland (Second Term) First Spouse Gold Coin scheduled for release on December 20.