US Mint 2012 Proof Set Sold Out

2012 Proof SetThe sell outs for 2012-dated US Mint products continue. Today, the Mint’s website is showing the clad version 2012 Proof Set as sold out. This joins the annual set containing 90% silver coins which sold out yesterday.

The 2012 Proof Set contains proof versions of the Lincoln Cent, Jefferson Nickel, Roosevelt Dime, five America the Beautiful Quarters, four Presidential Dollars, and the Native American Dollar. These are all struck at the San Francisco Mint with the “S” mint mark in the standard compositions. The sets originally went on sale May 7, 2012 and were priced at $31.95 each.

Based on the most recent sales report, the US Mint had received orders for 789,782 sets. This would represent the lowest mintage for the popular annual offering in more than 50 years.

Although the trend has been towards lower mintages for the past several years, this represents a significant step lower. The 2010 Proof Set had last reported sales of 1,103,950, followed by 1,098,284 for the 2011 Proof Set, which concluded sales on December 31. The last reported sales of 789,782 for the 2012 Proof Set is the lowest total since the 1956 Proof Set, which had sold 669,384 units.

To reiterate some points raised after yesterday’s sell out, the period of availability for the 2012 set was far shorter compared to the prior year. The 2011 set was available for nearly two full years, compared to 8 months for the 2012 set.

Also, although the full annual 2012 Proof Set has sold out, some of the coins in the set remain available from the US Mint within other products. The proof cent, nickel, dime, and half dollar are available within the 2012 Birth Set. The five proof quarters are available in the 2012 America the Beautiful Quarters Proof Set. Only the four proof 2012 Presidential Dollars and proof 2012 Native American Dollar are no longer available in any products from the Mint.


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Comments

  1. fosnock says

    auxmike,

    2012 Proof Set (+4,968 to 789,782)
    2012 Silver Proof Set (+3,498 to 393,757)

    Jim_D

    I don’t understand why a collector would wait 7 months to buy the product but if that was an issue why is the mint making the proof sets available for so long

  2. Shutter says

    why is the mint making the proof sets available for so long

    Because of the money. In the last 3 months, the mint raked in nearly $14M on these 2 sets alone.

  3. fosnock says

    @Shutter,

    Thank you for elaborating my point. I’m just curious why would the mint suddenly decide it was not profitable (or whatever) and stop production without notice. All I can think of is maybe they want to force you to buy the limited edition silver set or could they be upset because they had to melt down a lot of 2011 sets or maybe the mysterious issues with the FS coin production is starting to manifested itself in other products.

  4. DNA says

    I missed the 2008 Clad Proof Set because I generally don’t collect Clad Proof Sets. This time, I got my order in for a Clad 2012 Proof Set just under the wire.
    When I read here yesterday about the 2012 full Silver Set selling out (and saw the Pres. Dollar Set was sold out as well), I immediately ordered a full 2012 Clad Set. Got my order confirmation e-mail yesterday. Today, they’re sold out. Dang, that was close!

  5. Jim_D says

    @ fosnock

    I would have thought the mint might cut off sales if the weekly purchases dropped below some predetermined level. I always thought 2 years was too long, i would have preferred one year of sales.

  6. someone says

    @DNA

    Are you sure about that? I’m in the Mint’s product catalog right now and I can still see them for sale.

  7. DNA says

    Apologies for saying the Quarter Sets are out, I meant the 2012 Presidential Dollar Proof Sets…

  8. Samuel says

    when do you guys think the mint will increase the 5oz ATB price? the day when the new one is released or before that?

  9. ClevelandRocks says

    PMs are getting killed. Gold down close to $50 in past 24 hours, what gives?
    I read QE may slow, but didn’t the fiscal cliff “deal” involve raising debt more?
    Raising debt must mean printing more money. I think PMs will rise once folks realize what all this means.

  10. BaldwinAce says

    Mint is cutting their own throat. Interest in Mint products will die unless they start creating items that will generate value in the future. Making items with high mintages or mintages to meet demand will have no future value. I have deleted all of my subscriptions and looked to the secondary market for anything graded I truely want. They have neglected their dedicated subscription customer by not giving them anything worth investing in. There is no incentive anymore.

  11. Mark Radel says

    Can anyone tell me what will happen to my order? On 12/21/12 I ordered 3 sets, I only received 1 even though I was billed for 3. I called the Mint, very helpful, Within a week a claim form came which I filled out and sent back asking for the sets? Am I out of luck and have to go to the secondary market or does the mint hold back sets for this situation?

  12. fosnock says

    Mark Radel – I’m no expert but the mint does state that “In the event a particular coin option is sold out, the United States Mint reserves the right to either process partial orders and make refunds, or return orders in their entirety.” I would call the mint you would hope they would hold the sets for you, but personally I think this means your out of luck, but that would depend on when they got your paperwork. The only time had I had a problem with ordering was with additional 2009 silver proof sets the mint just canceled them but I was never billed

    @BaldwinAce – I stopped all my subscriptions to save on shipping because until now their was no point everything was available forever but saying that I collect things because I like them not because they will increase in value. It is also nice to have an increase in value but in my opinion the mint should focus on satisfying customers regardless of that demand

    @ClevelandRocks – Non-Farm Payrolls number come out tomorrow. the numbers must be bad

    @Jim_D – I agree what one year of sale is sufficient, but what is really crazy is they gave fair warning (last chance) for sets that were available for about 2 years then the pull the 2012 sets without warning after 7 only months

  13. DCDave says

    @fosnock: I agree with your Jim D comment.
    I think collectors deserve to be upset with the Mint since they have conditioned us that products will be available forever and then suddenly make a change. I missed out since I always was going to buy the ’12 annual sets, but since I was spending money on other items, I never felt pressed to buy the sets early like I used to do. That being said, I enjoy looking at a much more “cleaned-up” Mint site. I really think one year should be a hard time limit.
    I think these are hard times and people aren’t going to spend tons on aftermarket “low sales” since there are so many of them and no gauantee that “new lows” will happen. Michael first pointed this out some time ago and he was right.

  14. stephen m. says

    fosnock, you are right about buying what you like and buying it quick when available. The mint, in my opinion, hasn’t any rhym or reason for selling their products to us. They just do what they please at any different time they want because they are the only game (mint) in the USA. Look at the gold falling this morning but it may be a buying oppurtunity. The big question, as always, is how low will it go? Happy New Year to everyone!

  15. SteveDoc22 says

    I only order the silver proof sets. They are just as attractive, and may (MAY) just go up in price one day

  16. Art says

    I’ve lost interest in this stuff because the Mint’s Quality Control sucks. I got sick and tired of returning their garbage.. The Internet age has made the Mint just not care like they uesd to. Maybe I’m not the only one and it’s one of the reasons the numbers are dropping.

  17. EvilFlipper says

    I’m waiting for gold to break the trend line down below 1650…. Should be a quick gap down. Nobody hyperventilate. No way on this green earth the Fed stops buying bonds. We are in a 0 interest rate environment like Japan. If the fed stops buying bonds interest rates rise fast and we default… Which is what SHOULD happen but I doubt the Fed does it. The Bankers themselves would hang the Fed chairman from the nearest light post. No, they’ll suck every last drop of interest spreads from the public before that happens. I say we hit 200% debt/GDP before that happens… About 32 trillion total debt. How fast that happens is anyone’s guess.

  18. TomP says

    The 2012 1/4 ounce AGE proof gold is now on a 2 week delayed shipping notice.
    Another 2012 coin on it’s way out? I’m a bit surprised at the timing now with gold dropping lately.

  19. simon says

    IMHO If you have the resources just buy what you like and collect. I have been doing this for a few years now and have no regrets. There will be many more circumstantial rarities from the Mint in years to come – this year it is the 2012-W AGE, last year it was the 2011-W AGE and the 25th anniv. sets. There’s no telling but as a collector I do know that there are some modern rarities in my possession and I will pass them on to the family.

  20. says

    EF,

    Agree 100%. The debt is going to keep going up no matter what. People shouldn’t panic over price fluctuations. Most of the futures trading right now is being driven by HFT algos anyway.

    Anyone notice that infamous trillion dollar platinum eagle coin story is making the rounds in the media again today? I am starting to wonder if the government would actually dare to do it.

  21. TomP says

    CO,

    There was a story in the Washington Post about a month or two ago discussing the suggestions of the Mint producing two trillion dollar coins. A quirk in the law authorizing platinum coins allows the Treasury to denote any monetary value to the coins without specifying size. I believe it is just Washington cocktail party chatter trying to be clever.

  22. SmallPotatos says

    CO,
    Yes, i saw the Trillion dollar eagle story. at $1550 per ounce, it would be a 645,000,000 ounce coin (20,000 tons). um yeah. whats the shipping cost on that? can i get it overnight express??

  23. simon says

    The coin may need congressional authority for the obv/rev designs. It may end up as a catch-22.

  24. joe says

    With all the fiscal insanity coming out of Washington these days, everyone will be carrying trillion dollar bills soon enough. But whether that will be enough to purchase a loaf of bread is another question…

  25. Samuel says

    S.P., there will be no shipping cost, because they need to build the mint factory around the new coin, unless they only use 1oz of metal.

  26. SmallPotatos says

    Samuel,
    Oh, ok! Now it makes sense! I wonder….

    ….will the mint factory be architecturally designed to look like a giant PCGS slab???

  27. Hidalgo says

    @Steve – the proof 2012 1/4 oz. gold Eagle can still be purchased in the still available 2012 4 coin set.

  28. saucexx says

    As info the quirk in the law doesn’t require the coin to actually have one trillion in platinum. Just like paper money and coins, it would be worth the face amount not the PM content.

  29. Fosnock says

    About that one trillion dollar coin saucexx is right it would just have a face value of a trillion dollars. The thesis claims that Geithner should authorize the coin, deposit it at the New York Fed and write checks against it, rather than selling more bonds. Its just crazy talk. Why not just make it a Quadrillion dollar coin and end taxes for the next 100 years?

  30. DNA says

    the lowest total since the 1956 Proof Set

    I would say modern Silver Proof Sets would be more comparable to the classic pre-1965 Proof Sets. Comparing Modern Clad mintages to Classic Silver is “apples to oranges”.

    More “apples to apples” would be the 1971-present Clad Proof Set mintages.
    The 2012 is by far the lowest, and the only one under a million.

  31. Fosnock says

    CO,

    I actual wasted my time and read the original article by Joe Weisenthal. He has a defense for both of our argument…this is not about using the coin to pay back our debts, it’s staying within the law, while avoiding the technically nonsensical debt ceiling. I guess it is no worst than the current mandrake mechanism or storing $2.5 trillion in Social Security bonds in a three-ring binder, locked in the bottom drawer of a white metal filing cabinet

  32. SmallPotatos says

    Fosnock,
    Now i am really confused. Are you saying they would have a one ounce platinum coin with “One Trillion Dollars” printed on it? Even though it is worth only $1550 to you and me? hmmpf, well i guess it takes the government to convince us that it is better than a 20,000 ton coin.

  33. SmallPotatos says

    Maybe 645 million platinum coins would be a better idea to get to 1 trillion dollars

  34. says

    SmallPotatos,

    That is exactly what the plan would be – a one ounce platinum coin with a face value of $1T. If they can make the face value much less than what the coin is worth, they can also make the face value much MORE than the coin.

  35. EvilFlipper says

    Just put in my order for 5 1/4 ozers AGE proof. Hope they get filled. I might for for 2-3 sets. Looks like my ratio’s from my posts a month ago were right!

  36. SmallPotatos says

    So, it worth that just because someone says it is.

    Why not just decree that the debt has magically disappeared, and is off the books!

    Hmmm, sounds like someone needs to tell the king that he has no clothes.

  37. Wylson says

    This set is swill. My goodness, almost a 1M mintage. Most people don’t want this ugly junk.

  38. saucexx says

    Small Potatos,

    All modern money works that way. Do you think that there’s a dollar of intrinsic value to a dollar bill? How about the PM content of a quarter? Why do think there’s so much discussion about making the penny and nickel with cheaper material. The trillion dollar coin is just a much larger denomination.

    The whole idea is basically a hedge against the stupid debt ceiling. The House forcing us into a default is as ludicrous as printing a one trillion dollar coin. The end game would be to pass a bill getting rid of both the debt ceiling and the loophole that allows the platinum coin.

  39. saucexx says

    The theory also posits that inflation wouldn’t necessarily get out of control because the coin wouldn’t circulate. Like Fosnock mentioned it would be deposited at the fed and used to finance the debt. You can make your own judgements whether that’s true or not. The feeling is that the markets would be more favorable to a one trillion coin than having another debt ceiling standoff and possible default.

  40. EvilFlipper says

    So from what I figure 08 and 11 gold eagle sets have the sets minted somewhere between the 1 oz/ 1/10oz mintage and the 1/2 / 1/4 oz mintage. So my set sellout prediction is going to be around the 9,000 sets sold range. This looks to be the lowest mintage AGE proof set so far. I’ll sell these 1/4 ozers at a month after the set sells out! I do think the 2013 mintage might still go lower especially if the PM market prices tank!! Just a quick flip! All profits will go to procure a 100 year gold buffalo anniversary set for my collection!! And a palladium coin if it’s issued! Standard proof sets are still made in way too high a mintage for much profit to be made but the make great additions to those sets one wants to complete!

  41. saucexx says

    If we’re doing the prediction game now, look for some sell outs among the 5 oz AtB’s. The 2011 Chickasaw ended with a mintage 16,746. The 2012 El Yunque is already at 15.5K and the Hawaii is at 14.5K. Just saying……….

  42. TomP says

    The trillion dollar platinum coin was written about in an article on Dec.7, 2012 in the Washington Post by Brad Plumer. This was an update on an article by him posted on July 30, 2011. The quirk in the law is that Congress has passed on to the Treasury the ability to assign whatever denominated value to platinum coins the Secretary decides.

  43. EvilFlipper says

    MS 70 gold eagle 1/4 oz’s still only 580$ on fleabay!! Damn low spreads comparatively!!

  44. charles says

    @eviil..I’m not so sure you can make any money by flipping the 1/4 oz in a month or two. I say that because the 1/2 oz has not really gone up much at all. Sivertowne sells a ER NGC PR69 for $1059.95.

  45. EvilFlipper says

    I didnt mean them flip in a month. I meant fliP a month after the SETS sellout. Any predictions on the gold buffalo anniversary set mintage?!

  46. Hidalgo says

    @EvilFlipper – the proof 2012 1/4 oz. gold Eagle can still be purchased in the still available 2012 4 coin set.

  47. says

    I think the Buffalo annviversary mintage will be at least 25k, probably 50k. I think the Mint indicated they would make enough for all current buyers of Proof Bullalo’s to get one…and then you have a lot of buyers purchase it that don’t nornally buy the proof buffalo.
    Of course, a lot depends on what exactly is included in the set.

  48. Hidalgo says

    @EvilFlipper. Good luck flipping! Don’t forget about eBay and Paypal seller fees! LOL 🙂

  49. samuel says

    E.F., i noticed u mentioned flipping mint gold eagles several times before, how can u you make money on those? (except 2011, 2012 W).

  50. EvilFlipper says

    You have to look for low mintage stuff. I didn’t buy 2011 or 2009 or any previous gold proofs because the mintage is too high. I bought the 2008w gold burnished because the mintage was low. I SHOULD HAVE bought the 2012W but was out of town when they sold out. Just study the market. Look at which coins are in high demand with low mintages. I’ll tell you this, if thE gold buffalo set is issued with the only Gold buffalo reverse proof ever made this year that will be the coin of the year, as long as the mintage is below 150k which I REALLY think it will be.

    @ Hidalgo- It’s better to sell to a larger dealer. I bought some 25th Anniversary set last year at 300 and sold to a dealer for 700. No flea bay fees. Or have some customers who want some:)

  51. Hidalgo says

    @Evil Flipper – when one buys to flip, you win some and you lose some. Like lottery players and gamblers, we hear stories of the riches some people make. We rarely, if ever, hear how much they lost…. For most folks, the law of averages will apply.

    Since I have a full time job, I certainly don’t have the time to search, buy, then flip. The amount I would earn from any profits accrued would not be able to support me, my mortgage payments, and other expenses.

    I guess the thrill is in taking chances. We see similar behaviours with lottery players and casino players…. LOL 🙂

  52. EvilFlipper says

    I work full time as well. Gambling is leaving it strictly up to odds. Flipping allows for study… Which can move the odds in your favor. You just get to pick the best odds. Same as trading stocks. Or picking a career. Or buying a car. It’s always odds. Just do some extra homework. I always recommend q. David Bowers The Expert’s Guide to Collecting & Investing in Rare Coins. It’s one of THE best starting points and I often go back to it!

  53. merryxmasmrscrooge says

    2012 Proof Set (+4,968 to 789,782)
    2012 Silver Proof Set (+3,498 to 393,757)

    + 2012 Limited Ed. Silver Proof Set (50,000 max)
    silver Kennedy half = 443,757
    silver dime = ditto the half
    Sacagawea dollar = 1,183,000

  54. merryxmasmrscrooge says

    I’m not interested in the 2012 presidential coins no matter how few they made. Their designs make them all look grumpy, esp. Cleveland and Arthur.

  55. DNA says

    For calendar year 2012 (sales from Jan. 4th to Dec. 31st), 48,713 of the 2011 Proof Sets and 31,525 of the 2011 Silver Proof Sets were sold. And how many were they storing the whole time? Looking at these low figures and considering inventory/storage costs, it appears someone at the Mint decided they’d be better off melting the unsold 2012 Sets (along with the unsold 2011 Sets) rather than catering to the fence-sitters…

  56. Hidalgo says

    For coin collectors, collecting has become quite expensive. Whatever happened to the good old days when one could find joy in assembling collections from circulating coins/pocket change? And whatever happened to finding bona fide variations that made coin coin collecting fun? I have not heard of many variations lately – no double dies, micro mint marks, etc…..

    For coin investors, I would imagine many of them, with the cost and declining value of precious metals, are either opting to buy bullion coins or are foregoing purchases. The precious metal and bullion buying frenzy clearly came to an end during 2011/2012. That also impacted sales of other coins made of gold, silver, etc. There may be exceptions to this generalization, but check out the sales figures….

  57. DNA says

    @Hidalgo

    My favorite ATB Quarter collection is in my Littleton date folder.

    Because I found those fifteen Quarters (one of each design from 2010 to 2012) in my pocket change. Not from roll searching, from actual change received in transactions.

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