The United States Mint’s offering of the 2012 San Francisco Silver Eagle Set has just passed the midpoint, so it seemed like an appropriate time for a recap and update.
The product which includes proof and reverse proof 2012-S Silver Eagles went on sale June 7, 2012. As a change from previous Silver Eagle products, the sets will remain available for sale only during a four week window ending July 5, 2012 at 5:00 PM. The sets will be minted to demand based on orders receiving during this period. Pricing was established at $149.95 per set, which some collectors felt was too high.
The prospect of a high mintage and the pricing seemed to dampen some of the early excitement surrounding the product release. Opening day sales came in at 85,341, which was less than the sales of 100,000 units that the earlier 25th Anniversary Silver Eagle Sets had achieved. After the weekend, sales had risen to 115,059, surpassing the earlier set. Of course, the factor to consider is that collectors did not have as strong an incentive to order immediately, since the availability of the sets was assured for another four weeks.
The daily sales numbers are summarized below. The first number column indicates the change from the previous daily total, while the second column indicates the cumulative sales total.
|June 8, 2012||85,341|
|June 11, 2012||29,718||115,059|
|June 12, 2012||6,245||121,304|
|June 13, 2012||4,067||125,371|
|June 14, 2012||3,169||128,540|
|June 15, 2012||2,972||131,512|
|June 18, 2012||3,956||135,468|
|June 19, 2012||1,210||136,678|
|June 20, 2012||2,185||138,863|
|June 21, 2012||3,029||141,892|
|June 22, 2012||3,281||145,173|
After reaching a daily sales low of 1,210 sets on June 19, the daily sales total has shown an increase for each subsequent day. The most recent update from today shows daily sales of 3,281.
Cumulative sales have now reached 145,173, which is comfortably above the 100,000 total sales for the 25th Anniversary Silver Eagle Set, but still well below the 20th Anniversary Silver Eagle Set, which had a final audited mintage of 248,875.
The next few days will be interesting to watch to see if the recent upswing in the pace of daily sales continues, or if sales flatten or decline. The recent boost may have been driven by the distribution of the US Mint’s 2012 Summer Catalog by mail, which featured the San Francisco Set on the back cover. In all likelihood, I think there will also be a significant ramp up in sales for the final days of the offering.
Just for the purpose of running a basic scenario- if sales continue at an average of 3,000 sets per day, with a final jump of 20,000 sets for the last day, total sales would reach just over 200,000.
Readers are free to provide their own scenarios and predictions in the comments.