Star Spangled Banner Commemorative Prices Increase Tomorrow

Tomorrow, April 5, 2012 at 5:00 PM ET, the introductory pricing period will conclude for the United States Mint’s 2012 Star Spangled Banner Commemorative Coins.

The coins originally went on sale March 5, 2012. The available products include individual proof and uncirculated versions for a $5 gold coin and silver dollar, as well as a two coin set including the proof versions of each coin. The maximum authorized mintage for the coins across all product options was set at 500,000 for the silver dollars and 100,000 for the gold coins.

Later in the year, the US Mint will also release a Bicentennial Silver Dollar Set containing the proof version of the silver dollar, a reproduction of Francis Scott Key’s original manuscripts for his poem, the lyrics to the national anthem, and a historical account of its origin. This set will be limited to 50,000 with the exact release date not yet specified.

After the deadline tomorrow, prices for the current products will be adjusted from the introductory prices to the regular prices shown below. The products containing gold coins will also remain subject to potential weekly changes based on the average weekly price of gold. These changes are based on this chart.

2012 SSB Commemorative Coin Pricing
Introductory Regular
Proof Gold 505.00 510.00
Uncirculated Gold 495.00 500.00
Proof Silver  49.95 54.95
Uncirculated Silver  44.95 49.95
Two Coin Set 555.00 560.00

Basically price changes will be an increase of $5 for each product option. This represents a more significant percentage increase for the silver dollars compared to the gold coins. For the gold coins, the change is less than the change that takes place for a one increment change for a weekly adjustment based on the pricing grid.

As of the latest available sales report published today, sales for each product have reached the following levels:

2012 SSB Commemorative Coin Sales
Proof Gold 4,170
Uncirculated Gold 3,137
Proof Silver 74,789
Uncirculated Silver 28,815
Two Coin Set 7,801

The most significant number above is for the uncirculated gold coins. I looked back at the sales reports immediately before the end of the introductory pricing period for the 2011 Army commemorative coins (here) and the 2011 Medal of Honor coins (here). These show sales for the uncirculated gold Army coins at 4,699 and uncirculated gold Medal of Honor coins at 4,239. The sales to date of 3,137 for the uncirculated gold Star Spangled Banner coin are far below these levels.

Last year, the uncirculated gold coins concluded with sales of 8,062 and 8,251, which put them amongst the lowest for modern commemorative gold coins. Each coin currently commands a premium on the secondary market.

The sales level suggests another low total for this year’s uncirculated gold coin, although there is certainly a lot of room for things to change. More than seven months of availability remain for the product and the introductory pricing discount was not really a significant incentive. The Maryland War of 1812 Bicentennial Commission has been particularly active in promoting these coins, hosting a launch ceremony and appearing at coin conventions, so their actions might drive greater sales. Finally, swings in the market price of gold have also had a big impact on numismatic gold products.

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Comments

  1. William says

    Wow, metals are taking a beating today! I just hope prices stay a bit depressed until the gold eagles are released in a few weeks.

  2. DCDave says

    By next week the SSB golds and two coin set should have a price DECREASE based on gold averaging between $1600 and $1650/oz.
    There will be a few days at the end of the week until mind next week that there will be a temporary increase.

    I like the idea of a low mintage UNC SSB, BUT there are going to be a lot of new lows (UNC First Spouses will be lower mintages than UNC SSB) AND the ’11 W super low mintage AGE are really not selling for much of a premium at all even though they had a record low mintage for it’s type SO if you like the coin, buy it, but I’m going to pass on the low selling SSB UNC. I really don’ t think it will ever have a giant premium since it is just an ok looking coin with other gold products having lower total sales.

  3. Outis says

    No QE3 means Au prices will be going lower, at least in the short to mid term. Gold has seen its high for the year.

  4. Jeremy says

    I’d have to agree Outis, I think it may be a bit premature to say we’ve seen the “high” in gold for the year but definitely for some time to come. lol

  5. Brooster says

    This just means I can buy more PM’s for my $, and if you are in for the long run, this may be a good thing.

  6. says

    Brooster,

    My thoughts exactly. While introductory prices are coming to an end, I remain convinced we can probably milk the current swing in gold for just one more price drop by the Mint before getting the SSB.

    Michael’s post on the slow sales of the uncirculated variety have made me more interested in the gold SSB as well. Seems like my predictions for the gold commemorative was completely off! I figured with lower gold prices and only one gold commemorative this year, sales would pick up (especially after the robust performance by the 2012 infantry coins). Seems like I was wrong.

  7. William says

    Outis, you really trust Bernanke??? Once Twist expires in June, QE3 is a guarantee.

  8. Brian says

    Not sure what chance the SSB $5 UNC has of becoming the new low mintage key date, by under selling the 1997 Jackie Robinson mintage of 5,174 coins. If it did, even its mediocre design would likely lead to at least a twofold after market premium. Hard to gauge what total sales will be at this point, and hence long-term value. I’m going to wait this one out, see where we are this autumn. I’m guessing it will end up selling at least 8K, but hard to know for sure.

    My thoughts on these $5 gold commemoratives are generally 1) buy it if you really like the design (it will always hold (at least some) PM value and value due to a good design); 2) buy if it has a decent design and relatively low mintage (say 20K or less); 3) buy if it is a so so design and sub 10K mintage – unless other competing coins are perceived to have better potential.

    Does anyone have similar criteria with which they use to decide on individual coins in this series (i.e., $5 gold commems)?

  9. Fosnock says

    LOL…gold falls to a THREE MONTH LOW….oh no! Who cares I’m still buying and the Mint has not released this years hockey pucks. The lower PMs go the more I can buy.

  10. Hidalgo says

    The 2011 Army gold uncirculated and 2011 MOH gold uncirculated currently command a small premium over their final US Mint sales prices (around $500 each). Looking at completed auctions on eBay for sold items, I see very little appreciation in value for non-certified uncirculated coins from the US Mint’s final sales prices before the Mint stopped selling the coins.

  11. posterhunter says

    Did the mint really think most people would buy these coins early to save 5 dollars?

  12. says

    I might have bought the coin early if gold was reliably moving upwards instead of oscillating all over the map. I personally think the $5 discount introductory pricing for gold coins is not really good enough anymore to affect anyone’s decision making process, it’s just too tiny a percentage when you’re dealing with $500 coins. The Mint probably ought to make it some fixed percentage in future releases.

    Introductory pricing scheme still works pretty well for the silver releases though.

  13. Zaz says

    Sub 10,000 mintages for the gold uncirculated are probably going to be the rule instead of the exception. We are talking about $500 coins here. Even when the coins were priced a bit more modestly at $279 and $329, the Mint could be assured of moving only a maximum of 35,000-40,000 total units, unless the coin’s theme was universally popular. Not too many collectors can afford to spend $500 on just one coin. And exactly which event is the $5.00 coin celebrating? The War of 1812’s 200th anniversary this year or the writing of the SSB in 1814? It’s not a bad design, though more suited to a clad half. The current selling ratio is 1 unc for every 4 proofs, whereas the Army and MOH ratio ended up 1:2.

  14. Hidalgo says

    I agree with Zaz. Now that gold commemoratives are so much more costly than in years past, flippers, speculators, dealers, etc. can buy fewer coins while spending the same amount of money as in past years. With gold values trending downward in the past year, the chances of these gold coins falling in value because of drops in the value of gold bullion becomes more real.

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