The US Mint has revealed a new product known as the Marking American History Coin and Currency Set. The set contains one coin and one note made in America and will be issued to mark the 220th anniversary of the United States Mint and the 150th anniversary of the Bureau of Engraving and Printing.
The coin included in the set is a 2012 Proof American Silver Eagle. Although not explicitly stated on the preliminary product page, this coin will carry the “S” mint mark. The other component of the set will be a series 2009 $5 note with a serial number beginning in “150”, the signature of Treasurer Rosie Rios, and the San Francisco Federal Reserve bank designation.
Pricing is listed at $72.95 with no maximum product limit or ordering limit indicated.
The 2012-S Proof Silver Eagle had also been included in the San Francisco Silver Eagle Set, along with a reverse proof coin also bearing the “S” mint mark. Prior to and throughout the four week ordering window from June 7, 2012 to July 5, 2012, there had been no indication that either of the coins included in the set would be offered within other numismatic products. Now, less than two weeks after the conclusion of the ordering period, the Mint has revealed another product which contains one of the coins.
The last reported sales for the San Francisco Set came in at 251,302, which had been presumed to be the approximate mintage for each of the coins within the set. The inclusion of the 2012-S Proof Silver Eagle within the Making American History Coin and Currency Set will expand the mintage of the coin beyond that number.
For the most part, collectors seemed to have been pleased with the handling of the San Francisco Set offering, and the final order level was low enough to support a premium for the sets on the secondary market. With one of the coins no longer unique to the set, this may place a damper on further appreciation, or at least shift the premium towards the reverse proof coin. This may also damper enthusiasm or introduce skepticism for future special offerings from the US Mint.
The current situation is not without precedent. A similar situation also occurred in 2006 surrounding the 20th Anniversary Gold and Silver Eagle Sets. Initially, the US Mint announced three sets: the first containing proof, reverse proof, and uncirculated Gold Eagles; the second containing proof, reverse proof, and uncirculated Silver Eagles; and the third containing uncirculated Gold and Silver Eagles. At the time of release, the reverse proof and uncirculated coins (or “burnished” with “W” mint mark) appeared to be unique to the sets. Several weeks later, the US Mint revealed new products containing the one ounce 2008-W Uncirculated Gold Eagle and the 2008-W Uncirculated Silver Eagle.