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|
|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|
|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.