To catch up on some past news, the United States Mint has published the pricing for the upcoming 2015 United States Marshals Commemorative Coin Program. Both the silver dollars and half dollars will see price reductions compared to commemorative issues of previous years.
The commemorative coin program was authorized under Public Law 112-104 and will mark the 225th anniversary of the Nation’s first law enforcement agency, the United States Marshals Service. The actual anniversary celebration took place on September 24, 2014, which was 225 years from the date when George Washington appointed the first 13 U.S. Marshals on September 24, 1789.
The authorizing legislation provides for not more than 100,000 $5 gold coins, not more than 500,000 silver dollars, and not more than 750,000 clad half dollars which will be issued in proof and uncirculated qualities. The legislation provides that no coins may be minted after December 31, 2015. This is different than the typical language which usually specifies a period of issuance (rather than minting) for commemorative coins. Designs for the three coins were announced in July.
According to a recent publication in the Federal Register, the pricing for the proof silver dollar will be $46.95 during an introductory period followed by regular pricing of $51.95. The uncirculated version of the silver dollar will carry introductory pricing for $43.95 followed by regular pricing of $48.95.
The price levels are $3 lower for the proof version and $1 lower for the uncirculated version compared to the 2014 Civil Rights Act of 1964 Commemorative Silver Dollars. The prices are $5 lower for the proof version and $4 lower for the uncirculated version compared to the 2014 Baseball Hall of Fame Silver Dollars. The lower pricing is likely attributable to the lower market price of silver.
Pricing for the clad proof half dollars issued under the program will be $14.95 during the introductory period followed by regular pricing of $18.95. The uncirculated half dollars will carry introductory pricing of $13.95 followed by regular pricing of $17.95.
Once again, these price levels are lower compared to commemorative half dollars from previous years. The price levels for each version are $3 per coin lower compared to the 2013 5-Star Generals Half Dollars and $5 per coin lower compared to the 2014 Baseball Hall of Fame Half Dollars.
In this instance the lower pricing seems to be driven in most part by a lower surcharge applied to the half dollars. These surcharges, which are established in the authorizing legislation, are added to the cost of each coin and later distributed to one or more beneficiary organizations. For the past two commemorative half dollars, a surcharge of $5 per coin was included in the cost. For the 2015 US Marshals Half Dollars, the surcharge has been set at a lower level of $3 per coin.
(The surcharge levels for the other US Marshals coins are set at their typical rates of $10 per silver dollar and $35 per gold coin.)
The pricing for the 2015 US Marshals $5 Gold Coins will be determined based on the “Pricing of Numismatic and Commemorative Gold and Platinum Products Grid.” This grid allows pricing to be adjusted as frequently as weekly based on changes in the market price of gold. Price adjustments are made when the average weekly market price moves into different ranges established at $50 intervals.
At the current price of gold within the $1,200 to $1,249.99 range, the proof version of the $5 gold coin would be priced at $405.45 and the uncirculated version would be priced at $400.45. A discount of $5 per coin applies during the introductory period.