The Latest News on Newly Minted U.S. Coins

Jaime Hernandez - February 2, 2009
 
The U.S. Mint has recently introduced a number of new coins that have collectors buzzing. In this article, we will give you the latest news on several of their most popular offerings.


U.S. Mint Restructures Gold and Platinum Coin Offerings

The United States Mint has restructured pricing for all Gold and Platinum Eagle coins. The Mint’s new pricing structure is based on the average spot prices of gold and platinum. For gold coins, the new pricing is set at $50 increments, while the platinum pricing is set in $100 increments, both depending on the spot prices of the two metals.

Because of the volatility of these two metals, the U.S. Mint has had an extremely difficult time in pricing gold and platinum coins. According to the U.S. Mint’s Deputy Director Andy Brunhart, "Transparency, agility, and customer service are the catalysts for our new pricing method. The volatile precious metals market prompted our customers to suggest that we revamp our process, and we listened." According to the Mint, this new pricing structure will be in effect for the remainder of 2009.

2009 Ultra High Relief Trading at a High Premium

It's January 22nd 12:00 p.m. Eastern time. Tens of thousands of collectors are trying to log on to the U.S. Mint's website to try and order the 2009 Ultra High Relief coins. Others are calling over the phone to try to get their orders in. Many collectors reported having an extremely difficult time trying to order the new coins.

Overall, the restrictive ordering limit of one coin per household created a lot of excitement, both good and bad, for collectors and many dealers. On Certified Coin Exchange dealers were offering $50 over the Mint issue price for each coin just days before the coins went on sale. After several dealers showed interest in these coins, the bidding increased to a couple hundred dollars for dealer-to-dealer transactions. One dealer indicated, "I am paying a premium for the coins as long as dealers on the network provide me a U.S. Mint confirmation number for the order. On January 22, the day the coins were released, there was also online bidding on EBay. Some of the coins were selling in the $1,500 to $1,688 range – almost a $500.00 profit in some cases!



Last Chance to Order 2008-W Uncirculated Silver Eagles

The 2008-W Uncirculated Silver Eagles have been moved to the unavailable products section on the Mint's website. The coins were being offered to the public at $25.95 each. The last sales figures for the coins indicate that 444,558 have been sold so far. However, these figures have not yet been finalized.

The last chance you have to order 2008-W Uncirculated Eagles is by purchasing the 2008 Annual Uncirculated Coin Set which includes 2008-W Uncirculated Silver Eagles, a Sacagawea Dollar from the Denver Mint and finally the four 2008 Presidential dollars from the Philadelphia Mint.



Preview of 2009 Abraham Lincoln Silver Commemorative $1

The United States Mint has released images for the 2009 Silver Commemorative coins honoring the bicentennial of Abraham Lincoln's birth. The obverse of the coin, designed by artist Justin Kunz and engraved by Don Everhart, depicts an artistically detailed image of Abraham Lincoln. The words "IN GOD WE TRUST" and "LIBERTY" are also inscribed next to Lincoln's bust.

The reverse was designed and engraved by artist Phebe Hemphill. The last 43 words of the Gettysburg Address are inscribed within a laurel wreath. Below the wreath is a banner with Abraham Lincoln's signature, and the inscriptions UNITED STATES OF AMERICA and E PLURIBS UNUM. Later this year, up to 500,000 Uncirculated and Proof Abraham Lincoln Silver Commemoratives will be offered to the public.






Click here to email this article to a friend.

PCGS Library