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Silver Eagle San Francisco Coin Set Orders Top 115,000 in 5 Days
June 11, 2012 by Rhonda Kay · 3 Comments
In a bit over 24 hours, collectors ordered 85,341 of the 2012 American Silver Eagle San Francisco Two-Coin Proof Set. In five days, orders reached 115,059. Given that each coin set is priced at $149.95, the U.S. Mint has already grossed $17,248,598.55 in sales.
The U.S. Mint’s sales odometer for the 2012 Silver Eagle San Francisco Coin Set offers a total of orders that have been placed and a countdown to how many sales days are left. It is found on the proof set’s product page and is updated Monday through Friday by 3 PM ET.
Each weekday the United States Mint tabulates its estimated sales and posts them on the product’s online ordering page. This sales odometer reflects purchases made through all of the U.S. Mint’s sales channels, which includes the bureau’s website and its Customer Service phone line. The San Francisco set was released at noon ET on Thursday, June 7, 2012. The latest sales total is reflective of orders through to about 2:40 PM ET on June 11, 2012.
During the first few hours of availability, many collectors experienced difficulty making their purchases, hearing busy phone lines and unable to access the online ordering page. The problems were familiar to those who tried ordering last year’s 25th Anniversary American Silver Eagle Set. That product sold out in less than five hours with a mintage limit of 100,000.
U.S. Mint image of the Silver Eagle San Francisco Coin Set
There are no mintage limits for this year’s sets as they will be produced in amounts to meet demand. The only limit placed on them is one of time. Collectors have been given a four week window of opportunity to make their purchases. Then, at 5 PM ET on Thursday, July 5, 2012, sales of the Silver Eagle San Francisco Coin Set will discontinue.
This year’s set contains a 2012-S Reverse Proof American Silver Eagle and a 2012-S Proof American Silver Eagle. The standard proof coin has its raised design elements frosted with the background or fields mirrored. The reverse proof coin has a frosted background with its raised elements appearing mirror-like.
Both coins are minted in San Francisco, bear a ‘S’ mint mark, and are available only within the proof set.
STOP ORDERING!. The effect would limit the mintage of this set and would establish their potential value for the future.
The tragedy of the commons revisited. The value for all exists in the rarity of the item. Therefore, all thinking collectors don’t want to miss the opportunity, which results in a lack of rarity.
Let’s see, stop ordering to increase future value…result is you have no product to increase in value.
The tragedy of commons revisited…..C’est la vie!
It is over priced and the mintage more than likely will not be as low as I would like, but as a collector, I must have one and if I don’t get one, the increased rarity doesn’t benefit me only others!