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 Replies: 10 / Views: 1,587 |
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Press Manager
 United States
1420 Posts |
WASHINGTON - The United States Mint is pleased to announce that it is reducing or maintaining 2011 prices for some of its most popular products to be offered in 2012. The bureau was able to set these lower prices and maintain others by refining the product costing process, taking advantage of current lower prices for precious metals and negotiating better pricing from its suppliers. "We hope these prices will allow us to attract more Americans to coin collecting, while increasing collecting opportunities for our current customer base," said United States Mint Deputy Director Richard A. Peterson. Products with reduced prices in 2012 include the following: * United States Mint Uncirculated Coin Set® - reduced from $31.95 to $27.95 * America the Beautiful Quarters Three-Coin SetTM - reduced from $14.95 to $9.95 * America the Beautiful Quarters Uncirculated Coin SetTM - reduced from $21.95 to $12.95 * America the Beautiful Quarters® 100-Coin Bag - reduced from $49.95 to $34.95 * American Eagle Proof Silver Dollar - reduced from $68.45 to $61.95* * Presidential and Native American $1 Coin Rolls - reduced from $39.95 to $32.95 * United States Mint Presidential $1 Coin Proof SetTM - reduced from $19.95 to $18.95 * Presidential $1 Coin Uncirculated SetTM - reduced from $19.95 to $16.95 * United States Mint Presidential $1 Coin & First Spouse Medal SetTM - reduced from $14.95 to $9.95 In addition, 2012 prices will be the same for the United States Mint Proof Set®, priced at $31.95, and the United States Mint Silver Proof Set®, priced at $67.95.* * Pricing for products containing silver, gold and platinum are subject to change throughout the year based on market volatility. |
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Moderator
United States
188213 Posts |
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Pillar of the Community
United States
836 Posts |
This is interesting news, and I might capitalize on it.
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Pillar of the Community
United States
2168 Posts |
Too bad that silver 2011 proofs and quarters aren't included even if they gave the 2010 price that was just ended! I still need a few of the 2011 Q sets for gifts. I gave the 2010 this past Christmas. Thought of the idea after 2010 so since that was the first year for the new series I started there
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Pillar of the Community
United States
1817 Posts |
It's not necessarily the result of better "product sourcing and management," per se. Most monopolies are all about revenue maximization, and the US Mint/Treasury Dept. is no different from any for profit corporation. They alienated many long time customers over the way the A25 set was distributed, and from a marketing standpoint, they have to woo their core clients back, and a price rollback is one strategy. The interesting thing about monopolies rolling back prices is that it seems to alienate another subset of the Mint's customers: those that bought at the higher prices, as with the single silver products. They are finding out the hard way (again) that they cannot please everyone simultaneously, and next year they'll just simply charge whatever they like, and start the love-hate cycle with John Q. Collector all over again.
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Pillar of the Community
United States
1817 Posts |
P.S. The price for the ASE proof is actually up $3.00, as the 2011 sold out at $58.95 in November. It's a little disingenuous of the Mint to claim a price reduction on this item. The $68.45 price wasn't even the original price of $59.95, but somewhere in the middle of sales during the numerous item suspensions/price adjustments last year. |
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Pillar of the Community
United States
2168 Posts |
I see what you're saying. But in speaking of the 5 oz coins, I would not buy at the 279 price (well maybe would have if silver kept rising) but did buy at the 229 price and although they have decreased again did get the last 2 at 204 current price. I could see how some would not like the price decrease but I look upon it as a buying opportunity for something I otherwise wouldn't have bought or for addl purchses such as what I just mentioned
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Pillar of the Community
United States
1817 Posts |
If the Mint was a private company offering price rollbacks, most consumers would celebrate, and with the 5oz'ers dropping from 280 to 230 to 205, it is a good reason to celebrate and buy up. Unfortunately, the Mint is part of the US government, and when the ATB's dropped $50 on October, there was much complaining on the various coin blogs, as if these collectors felt cheated by the government instead of a price adjustment tied to the then declining value of silver. What most people forgot was that the first 4 coins had sold out by then, you could not have gotten them from the Mint for anything less than 280. This latest price adjustment in December seemingly would have translated into more robust sales, but aside from a slight bump the week of New Year's, it really hasn't. Many procrastinators might be waiting to see if prices fall even more. Had the Mint put the silver products on a pricing grid tied to the spot price, like is done for the gold and platinum collector products, they could prove to the collecting public that they are not "cheating" them, and avoid the product suspensions while the Federal Register is updated. Unfortunately, they have the silver coin sets, which do not round off easily. Edited by Bizybackson
01/13/2012 1:15 pm
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Pillar of the Community
United States
2168 Posts |
The silver sets/coins probably should be somehow linked to the spot price to allow for fair pricing at least I think so. Not many probably would have been purchased at the 279 level (the total 13 I bought since prices decreased to 224 when I bought 7 and now 204 6) I decided to by the Gettysburg coins for my husband, 2 kids and grand child in Dec when I didn't want to buy just anything and since the big gift is around 200 thought a great idea since the 3 older ones love Gettysburg what better to buy! The little one loves army guys so Gettysburg was perfect. When prices decreased I decided. To get Olympic for the big kids since they visited on a crosscountry trip and Vicksburg for my husband and grandson due to the 2 battles being fought almost at the same time. Have some shopping done now and at an even better price! If they go down again oh well. At least I have them. If they go up same thought!
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Pillar of the Community
United States
1817 Posts |
$204.95 is probably going to be as low as it gets, as that was entered into the Federal Register along with all of the other prices posted in News Boy's press release from the US Mint. The price of silver had to drop drastically, well under $25 spot before they even think of changing it again. The really good buys at this price are the Gettysburg and Vicksburg coins, both the Battle of Gettysburg and the Siege of Vicksburg are the pivotal turning points in the Civil War and in 18 months they will both be celebrating a 150th anniversary commemoration, and there will probably demand for those coins as souvenirs at that time, both bullion and uncirculated.
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Pillar of the Community
United States
2168 Posts |
Yes I agree. I may pick up 2 additional for 2 more grandchildren that will be born in 6 months or so! The 225 price was within that 25 spread. And that pricing is considered on the Mint site and new lower pricing as well as the silver eagle.
Edited by angel2004
01/13/2012 3:23 pm
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Replies: 10 / Views: 1,587 |
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Posted 01/13/2012 12:05 pm
