US Mint Sells 3,758,025 Grover Cleveland Dollars

The United States Mint has recorded sales of 3,758,025 of the Grover Cleveland (First Term) Presidential Dollars based on figures from the latest weekly sales report.

Sales began on May 25, 2012 with the 25-coin rolls, 100-coin bags, 250-coin boxes, and 500-coin boxes available from either the Philadelphia or Denver Mint. The reporting date is May 28, 2012, meaning that numbers reflect just the first three days of sales. A breakdown by product option is included below.

Grover Cleveland First Term Presidential Dollar Product Sales

Units Coins
$25-roll (P) 26,975 674,375
$25-roll (D) 26,008 650,200
$250-box (P) 6,632 1,658,000
$250-box (D) 1,857 464,250
$500-box (P) 276 138,000
$500-box (D) 273 136,500
$100-bag (P) 207 20,700
$100-bag (D) 160 16000
Total 3,758,025

This is actually a stronger debut than the previously released Chester Arthur Dollars, which had sold 2,866,600 coins within the debut period. The Arthur Dollars went on to experience an atypically strong second week, which pushed sales to 6,190,200 coins. As of the latest report, sales have reached 7,393,775. Some collectors have reported long delays in having their orders fulfilled.

The United States Mint indicated initial production of 6,720,000 for the Grover Cleveland Dollars. Depending on collector demand, production may be restarted during the current calendar year.

2011 Proof Platinum Eagle Pricing

As a reader pointed out, the pricing for the 2011 Proof Platinum Eagle should be reduced by the United States Mint today from $1,792 to $1,692 per coin. The new pricing is based on a market price of platinum within the $1,350 to $1,449.99 range.

Sales originally began just over a year ago on May 26, 2011. To date, the collectors have ordered 14,163 coins out of the 15,000 maximum mintage. Weekly sales have tended to be around 20 to 30 coins, although for this week, sales dipped into the single digits.

There is still no indication of when sales of the 2012 Proof Platinum Eagle might be offered. The US Mint has also not yet announced the reverse design selection which will be for the theme “For the Common Defence”. The CFA and CCAC recommended two different alternatives, which can be seen here. The final decision is up to the Treasury Secretary.

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Comments

  1. says

    Those are some solid numbers, though it doesn’t seem as hot as the Chester A. Arthur dollar coins. There definitely seems to be some life in this series.

  2. Samuel says

    Captain, can u explain a little bit why the the dollar coin is hot? i have no idea about dollar coins.

  3. says

    Samuel,

    Main reason seems to be because collectors used to be able to get presidential dollars at banks. With the dollar coin program cancelled, collectors can no longer get these coins from bank rolls. They must now resort to purchasing rolls direct from the Mint if they want to keep up their dollar coin collections.

    The Mint seems to have underestimated how many people had been collecting this series from the banks, which was why there such a rush to get the Chester A. Arthur when they were released. While this release seems to be going a little slower than the Chester Arthur coins, it’s still performing pretty well in comparison to the final release of the circulating presidential dollars, James Garfield, which only sold something like 980K coins.

    I don’t want to give a false impression that the dollar coins are rare and valuable, but there does appear to be substantial demand for them from casual collectors.

  4. george glazener says

    No doubt about it. Our fondness for our Presidential heritage is alive and well. There will always be a good market for this series among historically minded Americans. Just wait until we get into the likes of Teddy Roosevelt and beyond!

    I just wish we could get a message to the powers-that-be at the US MINT that we’d like the massive dollar coin hoard from 2007-2011 brought back for sale. They’d sell the fire out of ’em…!!

  5. says

    George,

    There is demand, but not THAT much of a demand. Sales of numismatic rolls during the period the coins were circulating were pretty terrible. There are still some circulating-period rolls available, I believe, but these generally don’t sell well. I think “real” demand for these coins is likely to top out between 5M-7.5M pieces per release.

    One other thing I just noticed in Michael’s post was this line: As of the latest report, sales have reached 7,393,775. Some collectors have reported long delays in having their orders fulfilled. Given the time it’s taking to strike more Arthur dollars, I think people who want the upcoming 2012-S quarters ought to order them soon after they become available, as it’s not clear how long the Mint will take to produce your coins if orders start piling up past the initial mintage mark.

  6. Sam says

    off topic – any word of pricing for the 2012 American Eagle San Francisco Two-Coin Silver Proof Set?

  7. G says

    That platinum coin is a nice coin. If the mintage wasn’t increased, there would probably be a lot of excitement for the series.

  8. guama says

    Sorry..another off topic question:) Any idea when the Philadelphia mint will reopen to the public? I feel the need to visit it when it’s completed.

  9. billy silver says

    Dollar coins are worth as much as a dollar bill which is not much these days.

  10. Don says

    Special Announcement

    PHILADELPHIA TOUR UPDATE

    The United States Mint at Philadelphia is currently CLOSED to public tours because of renovations. Tours will re-open on Tuesday, July 3, 2012, at 1 p.m. (ET) and will feature exciting, updated, hands-on and interactive exhibits and videos. Our artifacts and presentations will bring the history of the United States Mint to life!

    The store will re-open on Tuesday, May 29, 2012, at 9 a.m. (ET). We apologize for the inconvenience.

    Please return here for periodic updates or call 215-408-0112 or 215-408-0230 for tour and store information.

    Thank you for your patience as we create an exciting new tour experience!

    The United States Mint at Philadelphia

  11. stephen m. says

    I can’t see it, $149.95? That’s out of line with any current silver eagle pricing at the mint. I had figured on paying $120.00 plus a packageing cost. I’ll still have to order just 1 ea.

  12. george glazener says

    $149.95….?????
    What’s the box made out of? Rare mahogany from the Amazon rain forest? Does this set come with a $50.00 gift card to the SF MINT Gift shop? Maybe some free iTunes downloads? I mean, really, it can’t be the cost of the silver contained in the two coins. I mean, that would be like, umm, really greedy!

  13. simon says

    It’s the silver lining. At 149.95 USD, I’ll be picking up 1 EA for the collection.

  14. says

    Ugh. Not happy about the pricing. $130-$140 was my expectation. $150 seems way over the top, especially where the price of silver is right now. I recognize the Mint’s need for revenue, but this seems to be priced too high to me.

    I’d probably wait for a price cut but the narrow sales window makes such a cut very unlikely to happen.

  15. george glazener says

    You’re right. They’re not (too) stupid. They know full well that this product is attractive and enticing, even if the price isn’t. They know we’ll all fuss about the price for a day or 2, then go ahead and order the damn thing anyway…me included…!

  16. VABEACHBUM says

    I knew there were $1 Presidential Coin collectors out there, but the current level of demand continues to surprise me. I’ve been on the Mint’s Pres Dollar subscription program from day 1. Yeah, I know. 5 years of paying higher prices, but most of the banks in this area had not been consistent in the ordering of $1 rolls from the Fed.

    As for the SF Set, $150 had been at the very top end of what I was expecting, but that also was several months ago when Ag was hovering around $30. Given the current spot for Ag, the pricing for the 2012 ASE PR Coin, the uniqueness of the Rev PR SF Eagle and the packaging for this set, $135 should have been more than adequate – and would have generated a lot more consumer interest.

    Then again, if the Mint plans to produce to “demand,” what better way to control demand than to implement an unconscionable price!! I’m definitely in for one set for my ASE collection. At this point, not too sure about more than one.

  17. Don says

    The price definitely stinks but at the same time may limit how many are sold. Im in for 1 for my own collection. There is no flipping from me. Maybe this price will make flippers think twice and truly reflect the amount of people collecting ASEs

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