I wanted to take a post to revisit the United States Mint’s 2010 Uncirculated Mint Set, 2010 Proof Set, and 2010 Silver Proof Set. Each of these products has been on sale for more than a year and experiences relatively slow sales, as most collectors pursue the 2011-dated sets or the US Mint’s other new offerings.
The unusually long sales period for the 2010 annual sets is a result of the earlier release of the 2011-dated sets. In recent years, the Mint has often concluded sales of the previous year set to coincide with the start of sales for the current year set. When the 2011-dated sets were released this January, sales of the 2010-dated sets continued.
Previous inquiries to the US Mint have indicated that the 2010-dated sets will remain available for sale until December 31, 2011. Although not specifically indicated, earlier sell outs may be possible, depending on inventory levels.
The 2010 Uncirculated Mint Set went on sale July 15, 2010. Each set includes a total of 28 different coins with a special satin finish. The original price of $31.95 per set has remained unchanged.
Sales have reached 576,654 units, as of the latest US Mint numismatic sales report. The sales for the most recent weekly period were 251 units. Barring anything unforeseen, the total sales will likely end up as the lowest for an uncirculated mint set since 1963, when 606,612 sets were sold. The most recent low after this date was for the 2008 Mint Set at 745,464.
Besides having a historically low production, the 2010 Mint Set is also notable as the last year of the satin finish. Starting in 2011, the US Mint reverted to the brilliant finish. The satin finish was used from 2005 to 2010.
The 2010 Proof Set went on sale July 22, 2010. The sets contain 14 proof coins struck at the San Francisco Mint. The price for each set remains at $31.95 each.
Total sales have reached 1,092,068 units, with 352 units sold in the latest week. Once again, this seems to be setting up for a historical low. In all likelihood, the 2010 Proof Set will end up with the lowest mintage for a proof set since 1958 when 875,652 units were sold. The most recent low after this date was the 2008 Proof Set at 1,405,674.
As an aside, I wanted to provide the counterpoint that low mintages might not necessary make these sets worth more in the long run. For the past several years, the US Mint’s annual sets have sold considerably fewer units than typical, and even before that sales were well off the highs seen in earlier decades. It could be that these products time in the spotlight has passed, and it could be the case that annual sales figures will continue to move lower, making the 2010-sets less exceptional.
Another factor to consider is that many of the annual sets that have gained a secondary market premiums have been sets that unexpectedly sell out. With the 2010-dated sets lingering for more than a year, the end of sales won’t really seem too unexpected.
The 2010 Silver Proof Set went on sale August 26, 2010. Each set contains 14 proof coins, including 7 coins struck in 90% silver. The total silver content of the set is 1.33823 troy ounces, plus $5.06 in other face value.
Initially, the sets were priced at $56.95 each. The price was increased to $64.95 in April. Sales were suspended numerous times as silver market prices moved higher. Most recently sales were suspended following a decline in the price of silver. The suspension continues, pending a price decrease.
The US Mint has sold 573,269 sets to date. This might be the third lowest mintage Silver Proof Set, after the 1995 (549,878) and the 1993 (570,213). It will likely be the lowest mintage of the rotating quarter designs era of 1999-present. The current low is 694,406 for the 2009 Silver Proof Set, although the 1999 Silver Proof Set with a mintage of 804,565 commands the biggest premium.