San Francisco Silver Eagle Set Sales End Tomorrow

As a final reminder, the four week ordering window for the United States Mint’s 2012 San Francisco Silver Eagle Set will conclude tomorrow July 5, 2012 at 5:00 PM ET.

In the final days, the pace of orders has jumped, with the cumulative sales total now reaching 245,131, based on an update made July 4 around 3:00 PM. There should be one more daily sales update tomorrow, just hours ahead of the conclusion of sales.

Here are the daily sales figures for the entire offering. The first number column indicates the change from the previous daily total, while the second column indicates the cumulative sales total.

Increase Total Sales
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
June 25, 2012 6,874 152,047
June 26, 2012 4,522 156,569
June 27, 2012 6,012 162,581
June 28, 2012 4,255 166,836
June 29, 2012 8,752 175,588
July 2, 2012 25,471 201,059
July 3, 2012 16,292 217,351
July 4, 2012 27,780 245,131

The 2012 San Francisco Silver Eagle Set contains one proof coin and one reverse proof coin with the “S” mint mark. Each set is priced at $149.95.

Collectors have been closely watching the daily sales figures to draw comparisons to previous special issue Silver Eagles. Sales quickly passed the 100,000 maximum mintage for the 25th Anniversary Set and are on the brink of passing the 250,000 maximum for the 20th Anniversary Set.

In the broader scheme of the series, the two coins in the San Francisco Set are bound to have mintages at the lower end of the spectrum. The final sales seem likely remain below the mintage of 466,573 for the 2006-W Uncirculated Silver Eagle which sells for a premium, as well as the lowest mintage regular proof issue, the 1994-P Proof Silver Eagle, at 372,168.

Other Silver Eagle News

There is one piece of information that I wanted share with readers. Based on an inquiry that I made, the US Mint has confirmed that they will not be offering a 2012 Uncirculated Silver Eagle with the “S” mint mark. The Mint had previously indicated that such a product would be offering within their 2011 Annual Report, however they ultimately decided not to offer this product and instead offer the 2012 San Francisco Silver Eagle Set.

This reduces the number of numismatic Silver Eagles expected to be issued for the year to the following:

  • 2012-W Proof Silver Eagle – offered individually with sales of 475,556 (as of July 2)
  • 2012-S Proof Silver Eagle – within the San Francisco Set with sales to date of 245,131
  • 2012-S Reverse Proof Silver Eagle  – within the San Francisco Set with sales to date of 245,131
  • 2012-W Uncirculated Silver Eagle – offered individually with sales beginning on August 2.


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Comments

  1. T1 Browserman says

    Reprinted from yesterday since it was in limbo:
    Gary / Jeremy

    I am not offended and I believe the cost is inflated and it will be a while before shipping begins. This offering and possibly all future numismatic offering, like this one, will be done this way after the 25th ASE debacle. Silver spot last year this time was in the high $30′s topping $40 until the dramatic correction in October 2011. I advise all to use this website to get up to date real time London fix and hit the ‘Compare Metals’ tab:

    http://bullion.nwtmint.com/spot-price-charts.php

    to get an idea where silver bullion (NOT NUMISMATIC) spot was last year compared to this year and where it will be headed. Right now only gold has remained in the black.

    I agree that there will be tough times ahead and possibly someone will unload their set for less than issue price OR it will wind up in an estate sale and someone will actually stumble across this set at a steal; heck, I just picked up, from ebay, 2006 raw Franklin commeratives close to issue price; these were rare instances (most are looking for $45 and above) for commeratives yet current gov’t pricing dictates $49.95. If anyone knows why the gov’t’s silver price criteria isn’t posted please do tell.

    I don’t plan to buy any other set besides the one I placed on 1st day of offering. Final tally 250K+

  2. saucexx says

    No way it doesn’t outsell the 20th anniversary now. But absolute worst case it’s not more than 330K. Now I gotta decide if I want to pick up a few more sets up or not.

  3. Hidalgo says

    The 2012 reverse proof will be the most common of the three ASE reverse proofs. I am certain that fact will impact the coin’s secondary market value. The set will surely surpass the 250,000 mark…

  4. ClevelandRocks says

    I like the set (I bought 2), but premiums will not be big. Buy what you want but if you want to make money buy Sprint (S) no joke. As I posted before, this will be the highest mintage of the 3 sets (’06, ’11, ’12). Seriously guys, I couldn’t care less if these sets sell for $100 or $300 in two years. Keep in mind the ’06 reverse gold proof AGE with a mintage of less than 10k currently sells for only 2X spot, and the Mint is currently selling the San Fran set (mintage over 250k – 25X mintage of the ’06 rev proof), for 2.5X spot issue price! Think about it.

    You know most sets have been bought by dealers, so what will the true non-dealer demand really be?

  5. Frank says

    From now on, people can start tracking the weekly odometer (US Mint sales report) of the cancellation for this sets until 7/27 or 9/28 (depends on when they place the order).

  6. Frank says

    I believe another 20k – 30k sale tomorrow and eventually 20k -30k cancellation afterwards. The final sale of the set should be similar to the 20th set.

  7. ClevelandRocks says

    Oh, if you want a nice PF-70 S mark ASE, older ones can be won on auction for well under $100 or OGP for quite a bit less.
    I remember folks excited to get a “W” mark on a coin…
    Yes, I’m selfishly hoping folks will come to their senses and not push mintages over 300k so my 2 sets will be worth more, but it bugs me that the dealers can manipulate things so much.

  8. Wes says

    This set could easily be over three hundred thousand by 3 p.m. tomorrow. Then who knows in final hours.I don’t believe this set hurts the 25th Anniversary set at all. Some wishful thinkers who were unable to get the 2011 set might hope so.

  9. Samuel says

    do u think big dealer will place a big order to scare normal people away, then they cancel the order, so the final number will be low, and it wont cost them a dime?

  10. says

    First off…Happy 4th everone!!

    Now, the last few days I have seen post after post saying how this set is a loser, (I’ll buy one from a flipper for less than issue price…etc).
    I mean, really…do you really think that?

    This post is for the opposite view…that is, this set will do just fine!!

    A lot of what I’m saying, I’ve said before…but this is for those that missed my earlier comments.

    Originally I said I was buying 16 sets(which I did) and was gonna send 15 sets in for grading.
    I did several sales prices scenerios to anticipate what I may profit or loose
    .
    Well, when MCM came our with their prices of $189 PF69 and $229 PF70, I said “oh shit”..no way can I compete with that
    I saw that if I had to sell my sets at those prices, I was looking at a $350 loss.
    However, I really thought that MCM and others were selling these sets for way under market value. I thought they would eventually raise their price, but they did it sooner than I expected.

    Now, with there prices of $290 for PF70 and $230 for PR69 that averages out to an increase of $45/set. So now my when I multiply $45 X 14 sets to sell I get $630 more than my original low estimate.

    So at these prices I will have a PR70 set and an OGP set for FREE.

    And looking forward, even if the total sales of this set are 325,000, both of these coins will be among the lowest mintage silver eagles.

    If a 2006 MS69 or raw reverse proof sells for $200. I think a 2012 S reverse proof will easily sell for $150…and $250 ina PR70.

    So, I see a lot of potential in this set….maybe $350 for PR70 sets at their peak…and at least $225 for OGP sets. I think if you are sitting on the fence and think you will be able buy a set for under issue price….well, good luck!!

    Again…we all have our opinions, and only time will tell how things play out.

    Dang, fireworks just started…. GOD Bless America

  11. KC says

    My prediction seems to work. It will be ove 300k by tomorrow 3 pm but lower than 400k. The sale for the S-ASE is close to the 2006 RP. I think this is another good bet for collectors. Dealers and flippers got their chance too, but the immediate premium is going to be low. Please wait for another 5 years to see the real value.

  12. ClevelandRocks says

    Happy Fourth!
    Gaurantee (only second time I’ve posted this word) you will make more money from buying any multiple of $150 of Sprint (S) than this set in 1 year, 5 years, or 10 years…disclosure I do not work for them, but did just buy 500 shares. Point is buy what you like. Only the pros make consistent, real money from flipping. 250+k mintage will never bring big premiums. I’m not saying this is loser set, but with issue price of 2.5xspot, I’m guessing premiums will be modest.

    Premiums mean what you can sell them (less fees). Certainly ask prices will be high (I still see some 5oz ATBs offered at $600+, but no buyers), but what do you really think a dealer will pay you for it?

    This San Fran set reminds me of the Facebook (FB) IPO: Everyone wants in as much as possible (a sure winner), ignoring some of the numbers (in this case 250,000+ mintage selling for 2.5X melt), and you know what happened.

  13. auxmike says

    Almost half of my group of 10 2011 ASE bullion coins developed some form of those awful milkspots on them. If this happens with the round of coins there could be big price swings especially if it becomes a known issue with this set. This problem is known to have cropped up in the 2006 set..

  14. j says

    still have 2 sets of 2011 unopened got 3 sets of these plan to keep 2 unopened as well

  15. Silver Surfing Scott says

    I don’t think any flippers stand to make a dime unless they hold
    for 5 or more years. With interest rates high, I don’t see any immediate
    profits for dealers. This is deffinatly a collectors coin, not a flippers.

  16. ED says

    I go with Steve on this one, $225 for OGP !!! I say tomorrow tally @ 3 will be 278,654.

  17. alvaro says

    So today will be Last tally lol I mean counter update. lol TALLY. Is there gonna be a final tally on 7/6. The mint probably gonna take the counter down today at 5et . We wont know final mintage for awhile. My prediction might be death on at 280k. Oops I meant We wont know final tally for awhile. lol ed

  18. Gary says

    @ T 1 Browserman
    Not to start a huge uproar here…but some of us do not believe the 25th Anniversary was a debacle?? Just saying..

    Back on topic..i was hoping for a 2012 Uncirculated S Silver Eagle…I bought 5 75th Anniversary Sets to go with my 5 25th Anniversary sets and i plan on ordering 1 more 75th anniversary set just to see how far apart they really ship.

  19. alvaro says

    The word is that big dealers gonna make big orders today to get the mintage high and regular people cancel their orders thinking too much mintage. So then the big dealers will cancel todays orders too. And at the end the mintage will come down below 200k. So big dealers can sell the sets they got for crazy prices like mike mezack from hsn. Dont cancel people dont let them fool you.

  20. alvaro says

    It seems most people gonna order another set today just for the heck of it cause you have the option to cancel later. I might order anothetr one myself just to play around. If everybody orders one more set the mintage could climb to 350k.

  21. ClevelandRocks says

    Reminds me of Facebook (FB) IPO. Easy money?
    Lots of hype, but numbers don’t work (250% silver content issue price with 250,000+ mintage).

  22. alvaro says

    I was just at the usmint website fooling around to see how many sets you can order and is 999 sets and it comes to 149,800.05 .

  23. Gary says

    Ummm…alvaro, you might be overthinking a bit? And for the record i am not ordering another set, just to cancel it. And you are dreaming if you think the mintage will fall below 200k. Just be thankful IF it stays below 400k?

  24. Wylson says

    I know all this hype has me pondering a last minute order for a couple sets. So others are probably doing the same. Plus a few dealers nailing the 999 orders from the website. Nice 100K more orders today?

  25. JLW says

    For the big dealers to order this many, there must be some money to be mad. I wish I had the capital and time to order 999 at a time. If you sell them for even 5 dollars more a piece that’s nearly 5k gross.
    I purchased 3 the first day and plan to keep one OGP and send two off to get graded. Since I just joined NGC I have the 5 free grading coupon. If im lucky i get a 70 set (or two) and am able to make a couple bucks back. If not, ill hold em.

  26. Nate says

    Do we know for sure that the Mint has no plans to sell either of these coins separately from the set? If they release the S Proof for sale on its own later in the year, that will certainly affect values of the set.

    If they don’t, then I’d say we end up just shy of 300k total mintage and the set will sell for around 225 in OGP as Steve suggests (just over $100 per coin).

  27. Wylson says

    225 in OGP makes sense early on. After that I’m thinking it may settle back to issue price. If you look at the lowest mintage proofs they are only in the $80-$90 range.

  28. alvaro says

    anybody have in stock and reserve update on your order yet? Maybe after sell on 7/6 the first orders will update to in stock and reserve. or is the mint just gonna bearly start making the coins.

  29. alvaro says

    I bet the guy from hsn gonna try to sell the anacs 70 sets for like $499. who buys from hsn their prices are always double the real price like this set will be around $250 -$300 in 70 so hsn will sell for $500 – $600. And in bogus anacs 70 double price and cheap grading service = rip off.

  30. alvaro says

    I just order 2 more sets. Damn 10/31 ship date but the sets are not for me. I want them for Christmas presents. 1 for my father the other one for my daughter.

  31. Larry says

    Since I have never seen a comment from a dealer in this blog, I doubt if anyone but the dealers really know what they are doing. Dealers are in business to make money and are usually pretty smart about what to buy or they would be out business. I bet most dealers buy from people that sell them the coins at wholesale, then sell them at retail. I can’t see them buying from the mints website unless they are sure to turn a profit, which in this case they are not. I picked up a 2011 Silver quarter proof set at a dealer for $40.00 a couple months ago, which is cheaper that the mint price. Do you think they bought it from the mint? Any dealers out there wish to comment?

  32. Mint News Blog says

    ClevelandRocks – I published them. The system was putting them in the moderation queue.

  33. Jim B says

    I sometimes buy 2 of a mint item. If the item does well then I sell one and get 1 for free or cheeper then issue price. I am in for 1 of these sets. Reading all these posts makes me very greatfull to be a simple collectore. I dont worry about a ship date and I dont have to sweat about the the money end of these modern issues. Good luck to all and injoy your coins when they come.

  34. Ralph says

    Larry, What the dealers do is buy hundreds of those set’s to inspect and cherry pick the best ones to be sent in for grading. All the crap gets sold off cheap. They still make money because of the mark-up for the graded coins.

  35. gumbyen says

    MCM will be selling the set with the American Liberty label. I believe the minimum amount NGC will accept for grading is a lot of 1000. There are going to be quite a few of these about! Hard to know how many to get. Six at the moment and I may be one of the first to cancel on a couple of them depending on how many sell today. Anybody heard how long the cancellation window will be open. Should be up until just a day or two before they ship, yes?

  36. Larry says

    Ralph – I would still like to hear from a dealer. They may buy hundreds, but not necessarily from the mint. Retail busineses make money because they buy at wholsale and sell at retail. Buying this set from the mint does not guarantee they make any money, graded or not if the price instantly drops when these become available. Smart dealers know this and will probably take a wait and see attitude. Also, with this type of set from the mint, I doubt if there is much “crap”. Maybe HSN will make money off the uneducated public, but I don’t think that is a good representation of most dealers.

  37. Samuel says

    Larry, i agree with Ralph. dealer especially those slabbed coin dealers are not traditional dealers anymore. they dont follow the market, they MAKE the market. and so many tricks are involved in the market.

    i m not sure USMint gives discount to dealers or not. perthmint definitely gives discount to dealers, because we can see dealer’s prices often equal or lower than mint retail price.

  38. Samuel says

    just placed my 3rd order. my situation is, i dont have many proof eagles, so i buy some of this set. the normal proof eagle is $60 apiece, this special one is only $75, not a bad deal, and also probably has some upward potential.

  39. Samuel says

    off topic, why the Unc AGE’s shipping date is pushing back one day at a time? is it only for the order placed today or for all the orders place several days ago?

  40. ultra-crepidarian says

    I do not collect the series and I am not a flipper. I am going to pass on purchasing a set from the Mint. I might purchase one set of PCGS graded 70s from MCM depending on the price. Their NGC certified sets were aggressively priced but I passed on them. I am becoming much more selective in what I buy. I am concerned about the long-term viability of the market for these issues given the demographic and economic changes in our country.

  41. TomP says

    MINT to Consumers:

    After your planned last minute, just prior to shipping, cancellations
    what are WE to do with all those leftover expensive hardwood boxes?
    (this may impact our inflated profits which were dedicated to the Executive staff’s Christmas Hawaiian conference)

  42. Shutter says

    what are WE to do with all those leftover expensive hardwood boxes?
    Re-use them for 76th Anniversary SF set.

  43. T1 Browserman says

    Off topic….

    Will West Point be able to handle all four PM minting going forward even with 24/7 laborforce !?! Let W.P. handle the Au / Pt & possibly Pd offerings…that alone would be a more than a mouthful.

    Perhaps the silver eagle, proof & uncirculated will be moved back to S.F. where it began.

  44. ED says

    Just checked ebay, RP only starting bid $125, the 2 coin set $192 OGP ……no bids tho…

  45. Don says

    Grading coins is a lot like judging gymnastics–subjective and done by fallible and sometimes biased human beings. Who knows if that international Olympic judge favors athletes from certain companies? Who know if that coin grader favors clients that provide him with the most business? If the coin is borderline 69 or 70, who gets the 70?

  46. Brad says

    It looks like this one may stay under 300K after all. I think I’ll order a few more sets just in case. Even if there isn’t an update to the counter tomorrow, there should be updated figures provided in the weekly sales report. The counter just might update tomorrow, though. It’s not like the product page is going to be deleted or anything. It will just be moved to the “No Longer Available” page.

  47. vaughnster says

    VA Dave says:

    July 5, 2012 at 2:29 pm
    250,738

    250,748…..I just bought 10 sets 🙂

  48. Kraw says

    The majority opinion on these last few posts is that a high mintage on these SF ASE will hurt the 25th 2011 ASE, but wouldn’t a higher mintage on these show there is more collectors out there than the 100k mintage allows for on the 25’s thus driving the price up?

  49. Frankie says

    I guess the value of this set will also depend if the mint decides to produce this or a similar set on an annual basis. If they do, you might as well cancel your order because this is not special as there isn’t an anniversary associated with it. Not to mention that none of the coins are special in any way as they have been produced before (although with a different date and mint mark). What would really attract attention would be a high relief coin or a different weight (1/2 ounce to 1 kilo). But that won’t happen for sure with the US Mint…

  50. Samuel says

    Kraw, it is not necessarily. this time, people learned the lesson of last time, and order 10s of them.

  51. Jus-a-coin-luvr says

    The “herd effect” is running rampant…I’m sticking with just my 2 sets that were initially ordered. Calling the shot on being able to sell 10-20-more sets for a significant enough profit at some point in the future has too many unknowns in it for this investor.

  52. jeff in tex says

    Sounds like flippers on this blog. I just bought ten more hope the mintage stays low. The other guy will cancel if the mintage gets high that what he thinks. So thanks for all the extra sets ordered just to have more than three. Thanks for making this set less of a collecter

  53. Wes says

    So after it went up yesterday by over 27000 sets did they cancel those orders or was that a mistake for the holiday? Up only 5000 sets since yesterday with less than two hours to go to order from Mints website.

  54. Wes says

    Kraw, I’ve only read one or two post on this blog that think this set will hurt the 25th Anniversary set. I don’t think that makes a majority. My opinion is that it shouldn’t hurt value of that set.

  55. RLP says

    Would like to see the “counter” updated following completion/closure of today’s sales just to see what surge the last hours generated…..

  56. guama says

    Doesn’t make sense to me. 50K plus for 2 days and only 5k on the last. I think the mint is laying low so we will all order more
    . I bought 4 total. Im happy with that:)

  57. Fosnock says

    I don’t trust the Mints numbers…I think those of you ordering more based on mintage will get burned, but then again what do I know. Also remember the website is not down and you could potentially order tens of thousands of sets with just one order

  58. Hidalgo says

    Hey y’all,

    The US Mint has posted the number of orders for the set. As of this writing, the new number is 250,738. And there’s still more time to place more orders.

    So with the number of flippers cancelling their previous placed orders (think about the Defenders of Freedom set), it might be close — the 2012 ASE set might be around 250,000.

  59. saucexx says

    @Samuel

    I’ve already ordered enough for me, If I order anymore it would be to eventually sell them. I really don’t see raw sets selling for more then $200 so I’m not sure it’s worth my time or money to do it.

  60. Jus-a-coin-luvr says

    People have mentioned possibly having to wait for the Mint’s “weekly sales volume report” to see the after effects of this particular offering. Is that available to the public somewhere on a public website, or were they thinking of seeing it reported here in this site? Just curious about that one…

  61. Jus-a-coin-luvr says

    What will we do without our “daily fix” of sales for this set? 🙂

  62. Shutter says

    Doesn’t make sense to me. 50K plus for 2 days and only 5k on the last.

    A few days ago someone suggested that the recent “flood” of sales may be driven by mail order (as opposed to phone & internet) sales and inspired by the recent catalog mailing. Guess what. No mail delivered yesterday. So no mail order sales.

  63. Jus-a-coin-luvr says

    @Shutter, I think it is just the timing of the holiday with the end of the sales period. Had the 4th of July not been the day before sales must end, I feel the volume for today might have been stronger. People were off doing their thing with friends and family (having a life) instead of placing last minute orders with the Mint.

  64. Brad says

    And, that’s all she wrote, folks! I hope there’s an updated number tomorrow. That should be interesting to see.

  65. Shutter says

    People were off doing their thing with friends and family (having a life) instead of placing last minute orders with the Mint.

    People were off starting last Friday. My office was like a ghost town on Monday. I suspect that all the big orders from dealers were done on the first couple of days. As for flippers, I don’t know how many of them are really interested if there is a strong possibility they won’t see their coins until Halloween. I think that relatively few online sales got registered today. Did you notice that there were no website problems today?

  66. dave says

    yep they just took it off the website ordered one last set right before the close

  67. kevin says

    My way of thinking says this set will be quite collectible, I see a few reasons for that:

    – New very low mintage key date proof Silver Eagles
    – 3rd Reverse Proof ever and likely last for atleast 5+ years
    – If Mint sticks to its shipping expectations, only 150,000 will probably ship eligible for ER/FS, which should also make sealed boxed sets more desirable going forward
    – This set will be necessary for any serious modern coin collection going forward, just like the 2006 anniversary eagles and A25 sets

  68. Shutter says

    The mint now says: Total units ordered will be updated on Friday, July 6, 2012 by 3 p.m. (ET) to reflect the last day of the ordering window.

  69. Jus-a-coin-luvr says

    @Shutter, no I wasn’t on the Mint’s site trying to buy anything today. But, you raise a good point about the “October delivery”. If I were a “quick flipper”, I’d be a little nervous about waiting that long to get my sets. The dealers are already out ahead of you making sales today and you’re hoping to scarf customers after months have gone by. I sincerely hope that everyone (collectors and flippers) do well with the set. I’m very glad that I don’t have “profitability” hanging over my head and will just enjoy the set for what it is…

  70. says

    Just bought my set with 10 minutes left on the clock. Everyone sounds surprised that the sales peaked near the end, it should have been expected. As to the number of coins, it is high when compared to the Anniversary sets but compare the numbers to the collectable bullion coins. The first and only San Francisco minted Reverse proof. The lowest number of San Francisco minted proof coins ever and the first since 1992. This is as much about mint marks as it is about numbers and the numbers aren’t bad. The mint might be reflecting yesterdays count at 3PM EST but I doubt that there will be 50,000 sold since then. That leaves the count under 300,000. A little high priced, for sure. No profit for fast turn overs. But, as a collector, I’m happy and am sure that there is no money lost. The only problem I see is that the mint has gotten too good with it’s quality production. There won’t be great returns on PF/PR70’s for quite some time.

  71. Dan says

    I think the limited offering was a success. Many people who could not otherwise order on Day 1 (due to work, service or other obligations) were able to order at least one set. Others who’d have preferred a fixed mintage and have the resources available to order multiple sets of the household minimum in order to make a quick buck were probably the most disappointed. The Mint will have to decide on balance which approach is the best and how successful they were. This could be the model for limited edition sets for some time. I for one would like to see a counter for most if not all of their products. I would also like to know whether the counter decrements (counts down for canceled or returned sets). It would also be nice to know how many extra sets the Mint produces to account for replacements and what it does with any surplus sets (if any). How do the Mint employees figure into this? Are they guaranteed any number of sets or coins in general?

  72. guama says

    I think having a final count tomorrow will enable the customer to back put if the mintage is too high. I believe that number until will decrease in the weeks ahead. I can’t wait to see it:)_

  73. Louis says

    @Dan- great post from 5:17pm.

    I could not resist getting another order in at 4:59pm, which I can always cancel later and won’t have to pay for til the fall. My guess is when all is said and done we will come in somewhere around 275K, which is only a little higher than the 248K for the 20th anniv. set that sells for four times issue price in OGP. many Mint products decline in value over time, but I do not believe these sets will drop below issue price, or be available for less than $200 starting tomorrow. As others have said ad naseum, these are bad for a quick flip but should do just fine over time.

  74. gatortreke says

    I’m with Dan in that I think this offering was a success as well. I ordered 7 sets in the first week with the idea that I’ll eventually sell 5 and keep 2, hopefully making enough to cover the costs of the kept sets but I realize there are no guarantees this will be the case. The total number of this offering will be within the range of the 2006 offering, perhaps a bit more, which took about a month to sellout if I remember correctly though that offering had a household limit of 10. We’ll see how things turn out but given this set will be close to the 2006 final numbers which has demonstrated good value since the offering, I think this will likely do the same. Only time will tell but I’m willing to take the chance these will be worth owning over the months and years. If I’m wrong, well I love the RP’s so I’m happy to own them!!

  75. Louis says

    Dan,
    I am considering quoting your post above in an article, if you don’t mind. I will include a link to this section of the blog.

    That was fun, wasn’t it?

  76. Brad says

    Well put, Louis! I also ordered another pair of sets at 4:59pm. I can always cancel them if need be, but I’ll probably let the order go through. Even though the mintage might end up a little higher than the 20th Anniversary set, there’s just something about that “S” Mint mark! These coins won’t be “dogs” or anything.

  77. ClevelandRocks says

    Glad I got my two sets. They will likely have value, but don’t be surprised if flippers have trouble selling them right away. My prediction 287k.

  78. RLP says

    Mint posted that it will show the final “counter” tomorrow, Friday around 3:00 PM Eastern time.

  79. Hidalgo says

    @RLP – the US Mint will post orders placed. The final number can be adjusted down when (not if) orders are cancelled.

  80. G says

    I threw in an order for 10 with about 20 minutes to go. Where’s the downside? You have until 10/31 to pay for it or cancel. By then, it should be clear whether or not these are going to skyrocket like the 25th, or stay closer to the vest. Pretty fun free ‘call’ option.

  81. simon says

    Congratulations to the USMint on a job well done!.

    BTW the fulfillment center staff were working late on July 4th! I received an
    e-mail with a tracking number for a 5 Oz order. Good for them!

  82. guama says

    I must admit, it was kind of fun checking the site everyday. I do believe it was a win-win for us all. An opportunity for us day workers to actually order a wonderful product, while keeping the major flippers at bay. It was nice to know that I didn’t have to pay double or triple the cost due to not being able to order in a specific time frame.

  83. gatortreke says

    Following the end of the 25th SF Eagle offering, the Mint website was updated with the following:

    Orders will begin shipping on or about July 27, 2012. Orders are fulfilled on a first in, first served basis. Fulfillment of these sets will occur between July 27, 2012 and mid-October, 2012.

  84. Jim_D says

    Sounds like the window for cancelling orders just got shortened to 3 weeks from 3 months. If the first 150k have already been produced, that will leave the other 100k+ to debate their choices.

  85. Hidalgo says

    @gatortreke – I would imagine that those who ordered early (plenty of coin dealers) are going to rush their coins to PCGS and NGC to get an early release label. The problem the US Mint will have with the later orders is that if the secondary market for these sales is weak (like the Defenders of Freedom sets) – PFFFFZZZZZ! Plenty of cancellations!

  86. jeff in tex says

    Here is the real kicker!! At first the sets will sell that’s the 7/27 delivery orders then as all the flippers and multi buyers get happy, the new delivery orders hit the market dropping the price then the 3rd hits. Prices drop more and the demand dries up the is swamped. FUNNY!!!!!!!!

  87. says

    Dan,

    You’ve basically summarized my feelings on how this particular offering worked out. The Mint could perhaps use this as a guidepost on how to conduct future sales. This will also provide a good ceiling should they decide to start using mintage limits going forward.

  88. auxmike says

    This product generated a LOT of excitement into the hobby. Now we can all sit on our “eggs” waiting for them to hatch! I only bought one set as storing this stuff can be a hassel when you buy a bunch…

  89. John says

    G says:
    July 5, 2012 at 6:23 pm
    I threw in an order for 10 with about 20 minutes to go. Where’s the downside? You have until 10/31 to pay for it or cancel. By then, it should be clear whether or not these are going to skyrocket like the 25th, or stay closer to the vest. Pretty fun free ‘call’ option.

    I agree, I placed my orders very strategically (hopefully). I should be able to make a quick flip since I ordered on day one. I can cancel any future orders without taking a hit to my C.C. or having to return sets back to the mint.

    Also, just because an order is place doesn’t mean it will actually go through. So make sure your C.C. bill is paid and that you are not close to the max near the shipping date. Check Michael’s weekly update on http://coinupdate.com to see if the numbers go down (which I believe they will sooner or later).

    Next “S” ASE to wait for will be the 2012 Unc. version but I don’t know if they actually have confirmed that they will make it or not….

  90. Louis says

    John,
    Michael just had an article or post recently which indicated that the Mint told him they decided not to issue a 2012-S ASE burnished, only the 2012-W ASE burnished. That should help values for the SF set.

  91. corners says

    “A few days ago someone suggested that the recent “flood” of sales may be driven by mail order (as opposed to phone & internet) sales and inspired by the recent catalog mailing. Guess what. No mail delivered yesterday. So no mail order sales.”

    Exactly. Nothing was open on the 4th related to government.

    Might as well have been a Sat for the order counter

  92. Zaz says

    This set is a win, 250,738 with one more counter update might take it to 254-255K tomorrow. Glad I ordered within the 7/27 delivery window and another 2 sets for 9/28. With all the naysayers on this board and on others, CCF in particular, must have kept away some collectors, but not the big name flippers like MCM, etc. Still the set will be winner a couple of years down the road, just like 20th Annie set is now (4x issue price.)

  93. corners says

    “I threw in an order for 10 with about 20 minutes to go. Where’s the downside? You have until 10/31 to pay for it or cancel. By then, it should be clear whether or not these are going to skyrocket like the 25th, or stay closer to the vest. Pretty fun free ‘call’ option.”

    Free?Doesn’t matter what it is, if you give someone your money for 3 months and only get back your money, it wasn’t free and id take those loan terms any day

  94. G says

    Corners: your point would be more valid if they actually took your money for those 3 months. The US Mint doesn’t charge you for orders when you place them, only when the product ships. So, all the orders that people placed with a 10/31 delivery, those orders aren’t be charged until right before the product ships.

  95. alvaro says

    Todays counter update will consist of 7/5 orders for the whole day till 5pm. The 7/5 update was for 7/4 sales only . Many of you guys think tomorrows update Will consist of the final 2 hours. where did you guys got that idea. The 3pm update was for previous day sales not up to the minute sales. So expect like 50k jump today.

  96. Ralph says

    Just checked ebay. Seems the price is inching upwards on these set’s. One closed at $210. Interesting to read some sellers descriptions. One is saying the Mint sold 150,000 set’s in the first 4 hours (see table above for correct figures).
    I think the Mint should put a time limit on all it’s offerings. 4 weeks is enough to let everyone buy who wants to. I remember the first State Quarters in 1999. The Mint had a 72 hour ordering window. After that, it was sold out.
    To have something from the previous year still for sale after the current year is released takes away from the collectability of these products.
    Time for another cup of coffee. Looking forward to the Mint’s updated figures later today.

  97. Jus-a-coin-luvr says

    4-weeks was a long time for a “limited” time period offering. We also know what happens at the Mint when they try to squeeze a very popular product into too narrow an ordering window given their system. That equaled unhappy customers (for a number of reasons) which the Mint doesn’t want to foster. This whole event was about “selling product” and we must never lose sight of that driving fact for the Mint. As such, I’d say it was a success for both the customer and the Mint. I expect we will see more of this in the future for select offerings.

  98. KEITHSTER says

    Ya all those last mail order’s comming in from the catolog sale’s. But when’s the last time you or anyone you know ordered from the mint thru the mail. I think mine was in 1986 when these’s ASE’s first were born. I gave a few away as gifts and two have since been returned ( regifting you know ) now that’s a sweet return.No Me thinks it was the Big Boys and Dealers just could’nt resist returning to the scene of the crime why not order another 1,000 rape another 100 cherrys if there’s that many left in the batches by then and return the rest .Why not don’t cost much more and sure better then a striaght run.You know takes money to makes money except for the Mint they makes money to makes money. So we should all return the favor look thru your extra sets pick out the sweets and send the rest back to the big boys.So even if we can’t be Big Boys we can surely play like mmmm? m good luck to all!

  99. ClevelandRocks says

    13 of 14 successful competed sales on ebay were during (not after) the Mint’s offering period, so there are some suckers out there. Many of the sales were in June.

  100. Louis says

    What happened to e-Bay’s no pre-sales rule? I thought you could not sell something that is not in hand yet.

  101. Shutter says

    But when’s the last time you or anyone you know ordered from the mint thru the mail.

    This is the wrong place to ask this question. Everyone reading this blog, has some acquaintance with internet. There are still people who don’t. There are still travel agencies that will gladly charge aunt Martha $50 to book a ticket from Duluth to Buffalo. Even though most of us have been booking air travel online for years.

  102. Shutter says

    What happened to e-Bay’s no pre-sales rule? I thought you could not sell something that is not in hand yet.

    I think that was the special rule they made for 2011 set. The normal rule is that they must be able to deliver within 30 days of sale. That one gets violated all the time too.

    Personally, I think that eBay needs to crack down even more on coin sellers. For instance require picture of obverse AND reverse of each coin; ban use of catalog photos and require image of actual coins; lifetime ban for anyone using a picture of cardboard box before the mint even begins shipping.

  103. Shutter says

    take a look at this NGC 5oz ATB holder. It is a multi-coin holder

    I picked up one of those for Chickasaw. NGC gets pretty creative with holders for big bulk submitters.

  104. guama says

    I think todays number will be at least 50k more. The number was low because not many ordered on the 4th. Last minute orders will reflect today.

  105. Brad says

    If the number today is over 300K, maybe that will trigger a lot of cancellations. I wish the number would continue to be updated next week, but we might not get that lucky.

  106. saucexx says

    @Shutter

    It’s already eBay policy that every coin listing use a picture of the actual coin. You are NOT supposed to use a stock image. The obverse and reverse is different since until recently you had to pay for additional pictures. Now that all pics are free maybe it’s something they can put in place. I’ll post the full policy if I can find it. eBay is not the easiest site to find information.

  107. saucexx says

    @ Shutter

    See below

    Keep the following guidelines in mind when you’re listing coins and paper money:

    Include a clear picture of the actual item being sold—don’t use only stock pictures.

    A raw coin is one that hasn’t been graded by a coin grading company, or one that has been graded, but not by an approved grading company. Raw coins can be listed on eBay as long as:

    The listing includes a photo of the coin being sold. Images that are dark, out of focus, edited, or might be misleading aren’t allowed. Also, stock photos aren’t allowed.

  108. Wes says

    Those cancel boxes probably won’t stay up very long. Once they have started to process the order the box will be removed. Then must call the mint to cancel order before shipping.

  109. Chris says

    Flipping on first releases will be a breeze on these… The vast majority of those eligible will either be held by the collector or sold as a sealed box… I’m projecting PF 70 first release ngc sets on Ebay to reach $599 by the end of August. A proof 70 2006 reverse proof commands $400+. There is no reason that this reverse proof will be any different. The mintage is exactly the same, if not less following cancellations. Buying these in quantity on day one was a no-brainer.

  110. stephen m. says

    IF i was a flipper and not wanting to tie my money up for an extended period of time i would cancel my order. I really don’t think we will have a lot of orders being canceled other than cc that don’t go through for whatever reason. Also the quality of the sets will be so good that there won’t be many returns there either. I do wonder what will become of the cancelled orders for sets(the coins) and the returns? Will the mint open this item up again to sell them or will the coins be destroyed?

  111. Chris says

    I think MCM does think that.. If you notice.. they have no first release offerings.. Many of these big dealers had originally offered this product, and now it’s suddenly not available. They were hasty in their postings, and then got a real fix for the mintage. I have the latest issue of coin world here in front of me, and there is only one company offering a 70 first release set and it’s $349… last week it was $270… Bear in mind this was published a week ago… This mintage is extremely low, with those eligible for first release staggeringly low. Let me ask you this, why would a 70 reverse proof from 2006 cost more than this one, when the mintage is exactly the same? It’s not over-populated; there are only 3, and this the first from San Fran.

  112. Brad says

    Guama,

    The only way that number can be correct is if there were MASSIVE cancellations after everybody saw the 250K number. There HAD to be more last-minute orders than that! Not that I’m complaining about that number though. I hope it shrinks some more!

  113. Gary says

    Sounds like a lot of “collectors” are turning into “flippers”
    Seems everyone has a little flipper in them!!
    I wasnt buying any of that BS talk from the start!!

  114. Gary says

    251,302
    We got the 3rd lowest minted reverse proof silver eagle ever minted by the US Mint!
    Wow…didnt see that coming!!

  115. Chris says

    Well Gary, you gotta at least keep one perfect 70 set for yourself. However, who really needs two? There is always money to be made. We use that word flipper in kind of a degrading fashion. We aren’t flippers. We’re coin dealers. Perhaps the quantity is less than MCM, but every business begins small. Every release from the mint can easily be purchased, graded, and sold for a profit. You just have to stick with your prices and not be anxious to dump stuff. The more stuff that doesn’t sell, the larger your inventory grows. Suddenly, you’ve got a coin shop. Basic, easy, simple.

  116. corners says

    what would interesting is if the Minty prioritized smaller orders over larger orders giving the “real” collectors a chance to get something first,unlike now where you cant even order because the sites clogged.

  117. Shutter says

    We got the 3rd lowest minted reverse proof silver eagle ever minted by the US Mint!

    This is like saying that Spain was a silver medal winner in Spanish-American war.

  118. Shutter says

    saucexx,

    I’m sure you can appreciate the difference between policy and practice. There are still plenty of stock photos, blurry photos, underexposed photos, and photos that are way too small to even see what kind of coin is being sold.

    I can sorta understand use of stock photos for recent graded coins from big dealers (or even ungraded but very new), but it’s often the case for older coins.

  119. says

    Now we can patiently wait for the Mint to send us our TREASURES! Hope it is sooner than we think! I ordered 5 sets—-one for each grandkid!

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