2012-2014 Commemorative Coins

With no new US Mint product releases scheduled until later next week, I wanted to take a post to explore some distant future coin releases. Specifically, this will include commemorative coin programs which have already been approved for the years 2012, 2013, and 2014.

Commemorative coins are authorized by Congress. Under current law, Congress may only authorize two commemorative coin programs per year. In general, each program includes one to three different coins, with stated maximum authorized mintages. Legislation frequently includes specific requirements related to the design, inscriptions which will appear on the coins, mint facilities to be used, and the period of minting or issuance. The beneficiary of the surcharges raised from each program is also specified.

Two programs each have been approved for 2012 and 2013. One program has been approved for 2014.

2012 Commemorative Coins

The first program will commemorate the legacy of the United States Army Infantry and the establishment of the National Infantry Museum and Soldier Center. Silver dollars will be issued with a maximum mintage of 350,000 coins in proof and uncirculated versions.

Designs for the silver dollar "shall be emblematic of the courage, pride, sacrifice, sense of duty, and history of the United States Infantry." The legislation recommends that the coins be struck at the West Point Mint.

A separate program will mark the bicentennial of the writing of the Star-Spangled Banner, the national anthem of the United States of America. This program will include silver dollars with a maximum mintage of 500,000 and $5 gold coins with a maximum mintage of 100,000.

The authorizing legislation provides that the designs "shall be emblematic of the War of 1812 and particularly the Battle for Baltimore that formed the basis for the Star-Spangled Banner." Only one US Mint facility may be used to strike any particular quality of the coins, meaning at least two different facilities will be used.

2013 Commemorative Coins

The first program authorized for this year will commemorate the centennial of the establishment of the Girl Scouts of the United States of America. Only silver dollars will be issued, with a maximum mintage of 350,000 coins.

Minimal guidance with regards to design is provided within the legislation, which states that designs "shall be emblematic of the centennial of the Girl Scouts of the United States of America."

During the same year, commemorative coins will be issued to recognize the five United States Army 5-Star Generals, George Marshall, Douglas MacArthur, Dwight Eisenhower, Henry Arnold, and Omar Bradley. The program will include $5 gold coins with a maximum mintage of 100,000, silver dollars limited to 500,000, and clad half dollars limited to 750,000.

The designs may prove somewhat unusual, as the legislation requires that "the design of the coins shall include portraits of Generals George C. Marshall, Douglas MacArthur, Dwight D. Eisenhower, Henry “Hap” Arnold and Omar N. Bradley." If all five portraits must appear on each coin, this will make for a crowded design.

2014 Commemorative Coins

So far only one commemorative coin program has been approved for 2014. The subject of commemoration is the semicentennial of the enactment of the Civil Rights Act of 1964. The program includes silver dollars issued in a quantity of up to 350,000.

Designs "shall be emblematic of the enactment of the Civil Rights Act of 1964 and its contribution to civil rights in America."

Introduced Legislation

Within the 112th Congress, there have been two bills introduced for proposed commemorative coin programs. One would mark the 100th anniversary of the birth of President Ronald Reagan (which occurred in 2011) with silver dollars issued in 2017.

The other would commemorate the 225th anniversary of the establishment of the United States Marshals service (which occurs in 2014) with $5 gold coins, silver dollars, and half dollars issued in 2015.

Bills for similar programs were introduced previously, but did not become law.

Coin Update News: US Mint Sales Report

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Medal of Honor Gold and Silver Coins

The United States Mint will begin sales of the 2011 Medal of Honor Commemorative Coins tomorrow February 25, 2011 at 12:00 Noon ET. The $5 gold coins and silver dollars will be offered individually, in proof and uncirculated versions.

The program was authorized under Public Law 111-91 in order to recognize and celebrate the establishment of the Medal of Honor, America's highest award for valor in action against an enemy force which can be bestowed to an individual serving in the U.S. Armed Forces. It also intended to honor the recipients of the Medal of Honor and promote awareness of what the Medal represents. The coins are issued on the 150th anniversary of the establishment of the award.
The 2011 Medal of Honor $5 Gold Coin depicts the original Medal of Honor authorized by Congress in 1861 as the Navy's highest personal decoration. Inscriptions include "Liberty", "In God We Trust", "Medal of Honor", and the dates "1861" and "2011".

The reverse features an image of the full figure of Minerva, holding a shield in her right hand and Union flag in her left. A field artillery cannon and wheel of the Civil War era appear behind her. The figure of Minerva is based on the central image of the original Army and Navy Medals of Honor. The inscriptions include "United States of America", "E Pluribus Unum", and "$5". The mint mark "P" appears on the uncirculated version, while "W" appears on the proof coin.

The 2011 Medal of Honor Silver Dollar includes the modern Army, Navy, and Air Force Medals of Honor. The ribbons are included to reflect the fact that the Medals are worn around the neck. Inscriptions include "In God We Trust", "Liberty", "Medal of Honor" and "1861-2011".

On the reverse is a scene of an infantry solider carrying a wounded solider to safety under enemy fire. The image is intended to convey the courage, selfless sacrifice and patriotism of Medal of Honor recipients. The inscriptions include "United States of America", "E Pluribus Unum", and "One Dollar". The uncirculated version carries the "S" mint mark, and the proof version carries the "P" mint mark.

The US Mint has not imposed household ordering limits on any of the coins. Maximum mintages of 100,000 gold coins and 500,000 silver dollars are established by the authorizing legislation. Although orders will be accepted starting tomorrow, shipping is not expected to begin until April 25, 2011.

Introductory pricing will be applicable from the start of sales until March 28, 2011 at 5:00 PM ET, after which point regular pricing will go into effect. Pricing for each option is shown below.

	Intro.	Regular
$5 Gold Proof	$ 449.95	$ 454.95
$5 Gold Unc	$ 439.95	$ 444.95
Silver Dollar Proof	$ 54.95	$ 59.95
Silver Dollar Unc	$ 49.95	$ 54.95

There seems to be a greater level of anticipation for the Medal of Honor Commemorative coins, as compared to the Army Commemorative Coins, which were released last month. Several readers have indicated their preference for the upcoming coins based on their designs, particularly the reverse of the $5 gold coin.

As explored previously, the Army commemorative coin sales are progressing somewhat slowly. After the typical rush of opening orders, weekly sales have ratcheted down quickly. It will be interesting to see how the Medal of Honor coins perform by comparison.

Numismatic America the Beautiful 5 oz. Silver Coins

Even though the collector versions of the America the Beautiful 5 oz. Silver Coins are supposed to be released in the first quarter, i.e. within one month and four days, the US Mint has still not provided details on pricing and the exact release date.

On Coin Update News, I have summarized the known information about the offering, including the authorization, mintages, special finish, and packaging. Hopefully, there will be some additional information soon, for now you can check out the article: America the Beautiful 5 Ounce Silver Uncirculated Coins.

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Army Commemorative Sales Figures

The United States Mint's 2011 Army Commemorative Coins have now been on sale for a little more than two weeks. This post will examine the latest sales figures for the $5 gold, silver dollar, and half dollar coins.

It has generally been the case that the largest rush of sales for US Mint products occurs during the first few days of availability. After that point, the pace of sales diminishes until settling into somewhat of a consistent range. Thus, the extent of the initial sales provides an early indicator of how many coins the US Mint might eventually sell.

The total sales for each of the 2011 U.S. Army Commemorative Coins from the start of sales on January 31, 2011 to February 13, 2011 are shown below.

2011 Army Commemorative Sales

	Proof	Unc	Total	Max
$5 Gold	9,969	3,803	13,772	100,000
Silver Dollar	61,436	26,218	87,654	500,000
Half Dollar	39,463	23,820	63,283	750,000

So far, sales of the Army Commemoratives are running far below the levels experienced by the 2008 Bald Eagle Commemorative Coins. This was the last program to feature three different coins.

For comparison purposes, I managed to find sales figures for the Bald Eagle coins from the start of sales on January 15, 2008 through February 1, 2008. The second number column indicates the final audited sales numbers.

2008 Bald Eagle Commemorative Sales

	Feb 1	Final
$5 Gold Pr	42,815	59,269
$5 Gold Unc	9,610	15,009
$1 Silver Pr	108,522	294,601
$1 Silver Unc	63,428	119,204
50c Pr	77,242	220,577
50c Unc	59,527	120,180

The lower sales for this year's program can be attributed to a few factors. For the Bald Eagle coins, the US Mint offered several different collectible product options, which served to bolster sales. Products included the 3 Coin Proof Set, Young Collector's Set, Coin and Medal Set, and later in the year, the American Legacy Collection. This year's Army Commemorative Coins will only be offered individually and not within any special sets.

Second, the pricing for commemorative coins has increased significantly since 2008. Some of this is related to the increased market prices of gold and silver, although the price of the clad half dollars was also increased by 80% for the proof and 100% for the uncirculated coin.

Third, the US Mint has experienced an overall decline in their customer base during the past few years.

The silver lining for current collectors is that the lower sales will translate into lower mintages, which may eventually translate into higher secondary market prices. Commemoratives which have been unpopular or experienced poor sales during their period of availability have often appreciated on the secondary market after their low mintages became more widely recognized.

With this in mind, I think the coins to watch from the available 2011 Army Commemorative Coins are the uncirculated version of the $5 gold and perhaps the uncirculated half dollar.

Every modern $5 gold commemorative coin with a final mintage of less than 10,000 has carried a premium on the secondary market. The five coins which currently fall into this category are the uncirculated versions of the two 1996 $5 gold Olympic coins, the Smithsonian $5 Gold, the Jackie Robinson $5 Gold, and the 2001 Capitol Visitor Center $5 Gold.

As for commemorative half dollars, these have been offered as part of relatively few modern commemorative coin programs. The two issues that sell for the most significant premiums are the uncirculated versions of the 1996 Olympic Soccer and Swimming half dollars. These coins had mintages of 52,836 and 49,533, respectively. It doesn't seem too far outside of the realm of possibility that final sales of the uncirculated version of the 2011 Army Half Dollar will be around this level.

It is obviously very early in the offering for the 2011 Army Commemoratives, so the ongoing sales reports will bear watching throughout the rest of the year.

America the Beautiful Silver Bullion Coins

Louis Golino has written an update on the America the Beautiful Silver Bullion Coins for Coin Update News. He provides information on the authorized purchaser distribution so far- there are several who have not yet distributed their coins. He also provides clarification on certain issues related to grading, after contacting PCGS and NGC.

Read his article on Coin Update News

I still have not received any information on the United States Mint's offering of the numismatic versions of the 2010 ATB 5 oz. Silver Coins. The last information stated that they had all been struck before the close of last year, and would be available in the first quarter.

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Medal of Honor Commemorative Coin Images

Images of the upcoming Medal of Honor Commemorative Coins were recently posted on the US Mint's website. Until now, only the line-art images had been available.

The program was authorized by Congress to recognize and celebrate the establishment of the Medal of Honor, to honor its recipients, and to promote awareness of what the Medal represents and how ordinary Americans can challenge fate and change the course of history. The program includes a $5 gold coin with a maximum authorized mintage of 100,000, and a silver dollar with maximum mintage of 500,000.

The coins are scheduled to go on sale February 25, 2011.

The 2011 Medal of Honor $5 Gold Coin depicts the original Medal authorized by Congress in 1861 as the Navy's highest personal decoration. The reverse features an image of Minerva, holding a shield and Union flag. She appears on the central design of the original Army and Navy Medals of Honor. The obverse was designed by Joseph Menna and the reverse by Joel Iskowitz.

Based on the mint marks present on the images, the proof coin will be struck at West Point and the uncirculated version at Philadelphia.

The 2011 Medal of Honor Silver Dollar depicts the three modern versions of the Medal for the Army, Navy, and Air Force. The reverse carries a scene of an Infantry soldier carrying a wounded soldier to safety under enemy fire. This is intended to convey the courage and self sacrifice of Medal of Honor recipients. The obverse was designed by Jim Licaretz and the reverse by Richard Masters.

The proof version of the coin will be struck at Philadelphia and the uncirculated version at San Francisco. One of the requirements of the legislation is that at least one facility shall be used to strike proof coins and at least one other facility shall be used to strike uncirculated coins.

Update on Buchanan's Liberty: The US Mint struck 13,000 coins before the close of the year based on demand forecasts. This suggests that around 1,000 uncirculated coins remain to be sold.

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2011 United States Army Commemorative Coins

The US Mint will begin sales of the 2011 U.S. Army Commemorative Coins on January 31, 2011. A total of three different coins in proof and uncirculated versions will be available through the program.

The 2011 U.S. Army $5 Gold Coin represents the U.S. Army's service in war with depictions of soldiers from the Revolutionary War, Civil War, World War I, World War II, and the modern era. The reverse is based on the official U.S. Army emblem. The coins are struck in 90% gold and 10% alloy. The gold content is 0.242 troy ounces.

The maximum authorized mintage across proof and uncirculated versions of the $5 gold coin is 100,000.
The 2011 United States Army Silver Dollar is intended to symbolize the worldwide deployment of the 21st century Army. The busts of a male and female soldier are shown with a globe in the background. The reverse features the Great Seal of the United States with the seven core values of the U.S. Army surrounding. The coins are struck in 90% silver and 10% copper, with silver content of 0.7736 troy ounces.

The maximum authorized mintage for the silver dollars is 500,000 across proof and uncirculated versions.

Last, a clad composition 2011 U.S. Army Half Dollar represents the contributions of the Army during peacetime. The image includes a solider surveying, two servicemen building a floodwall, and the Redstone Army rocket. The reverse portrays a Continental solider armed with a musket to symbolize the U.S. Army as the first military service to defend the country. The maximum mintage is 750,000 across proof and uncirculated versions.

Based on the mint marks present on the coin images, a four different US Mint facilities will be utilized to strike the U.S. Army commemorative coins. The authorizing legislation requires that at least one US Mint facility to be used to strike proof quality coins and one other facility be used to strike uncirculated coins.

The West Point Mint will strike the proof $5 gold coins. The Philadelphia Mint will strike the uncirculated $5 gold coins and proof silver dollars. The San Francisco Mint will strike the uncirculated silver dollars and proof half dollars. The Denver Mint will produce the uncirculated half dollars.

Initially, the United States Army Commemorative coins will be available under lower introductory pricing. After March 2, 2011, 5:00 PM, higher regular pricing will go into effect. The introductory and regular pricing for each coin is shown below:

	Introductory	Regular
Proof $5 Gold	$449.95	$454.95
Unc $5 Gold	$439.95	$444.95
Proof Silver Dollar	$54.95	$59.95
Unc Silver Dollar	$49.95	$54.95
Proof Half Dollar	$17.95	$21.95
Unc Half Dollar	$15.95	$19.95

Included in the price of each coin are surcharges distributable to the Army Historical Foundation to support the construction of the National Museum of the United States Army at Fort Belvoir, Virginia. Surcharges are $35 for each gold coin, $10 for each silver dollar, and $5 for each half dollar.

The US Mint does not plan to offer any mutli-coin sets or other special collector sets for this program.

Even though sales will begin next week, the US Mint indicates that the coins are expected by February 28, 2011.

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2011 U.S. Army Gold and Silver Commemorative Coins

The US Mint has announced the final design selections for the 2011 U.S. Army Commemorative Coins. The program will include a $5 gold coin, silver dollar, and clad half dollar.

For the past two years, commemorative coin programs have only included a silver dollar. Both of next year's programs will each include multiple coins. Between the program to honor the U.S. Army and the program for the Medal of Honor, there will be a total of five commemorative coins issued in the coming year.

The design selections made by the Secretary of the Treasury are shown below. As in the past, I will also mention the recommendations made by the Citizens Coinage Advisory Committee (CCAC) and the Commission of Fine Arts (CFA). All of the original design candidates can be found here.


The 2011 Army $5 Gold Coin obverse represents service in war with depictions of soldiers from different eras, including the Revolutionary War, Civil War, World War I, World War II, and the modern era. The obverse was designed by Joel Iskowitz and sculpted by Phebe Hemphill. The CCAC had recommended a different view of the five soldiers from the waist up, although significant support for the selected design was also expressed. The CFA had recommended a full length view of three soldiers from the Revolutionary War, Civil War, and World War II.

The reverse of the coin is based on the official U.S. Army emblem, as sculpted by Joseph Menna. This selection followed the recommendation of the CCAC, with the rearrangement of the inscriptions "United States of America" and "Department of the Army" that they had suggested. The CFA favored an alternate design with a border between the emblem and inscriptions.


The 2011 Army Silver Dollar depicts a male and female soldier with a globe in the background to symbolize the Army of the 21st Century. This was designed by Richard Masters and sculpted by Michael Gaudioso. The CCAC had recommended this design, also suggesting that the female be altered to depict an African American woman. This was not acted upon, although the goggles originally present on the male soldier were removed. Removal of the goggles had been suggested for the $5 gold coin candidates. The CFA made no recommendation, questioning "the legibility of the figures, the multiplicity of elements, and the jarring depiction of goggles on some of the soldiers."

For the reverse, an image of the Great Seal of the United States with the seven core values of the Army is presented. The reverse was designed by Susan Gamble and sculpted by Don Everhart. The CCAC had recommended a design portraying a solider carrying a wounded comrade, while a third solider provided cover. The CFA had recommended the selected design since it was "the only option that properly balances the proposed depiction of human figures on the obverse."


The 2011 Army Half Dollar is intended to symbolize service in peace. The obverse depicts a solider surveying, two servicemen building a flood wall, and the Redstone Army rocket, as designed by Donna Weaver and sculpted Charles Vickers. Both the CCAC and CFA had rejected all obverse design candidates, including the selected design. The CCAC commented that the designs were "too cluttered and lacked focus", also questioning the accuracy of some images. The CFA commented, "the multiplicity of design elements and pictorial complexity was excessive for an object at the size of a coin."

The reverse design depicts a Continental solider armed with a musket, as designed by Thomas Cleveland and sculpted by Joseph Menna. This design was recommended by both the CFA and CCAC.

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American Veterans Disabled for Life Silver Dollar Sales Ending December 13

Sales of the American Veterans Disabled for Life Silver Dollars will conclude at the US Mint on December 13, 2010 at 5:00 PM ET. This is one of two commemorative coin programs that were authorized for this year.

The silver dollars issued under the other program celebrating the centennial of the Boy Scouts of America previously sold out of the maximum mintage in August.


The Disabled Veterans Silver Dollars originally went on sale February 25, 2010. Initial pricing was $33.95 for the uncirculated version and $35.95 for the proof version. The maximum authorized mintage was set at 350,000, with an ordering limit of 100 coins per household in place for the start of sales.

In the first three days of availability, the US Mint recorded sales of nearly 100,000 of the commemorative coins, representing 28% of the maximum mintage.

After an introductory period, pricing was adjusted to $35.95 for uncirculated coins and $43.95 for proof coins.

According to the most recent sales figures, the US Mint has sold 262,778 coins. This is made up of 186,941 proofs and 75,837 uncirculated coins. The pace of sales has picked up in the final days of availability, with more than 7,000 coins sold in the past two weeks.

By law, the US Mint is mint and issue the commemorative coins for the entire calendar year. However, as in the past, sales will conclude earlier to allow time for order fulfillment and shipping.

Other Mint News

The Abraham Lincoln Presidential $1 Coin Cover, which will be released on December 30, 2010 will have a maximum production of 37,000 units. This compares to a production limit of 32,000 units for each of the other 2010 American Presidency $1 Coin Covers.

Similar to the situation for the Mary Todd Lincoln First Spouse Gold Coin, the US Mint must be expecting higher demand for the Lincoln product compared to other Presidents.


Separately, the US Mint dispatched a brief blurb yesterday through one of their RSS feeds indicating that next week the US Mint's website will get a "fresh, new look." This might be further extension of their recently adopted new brand promise and identity.

New Coin Grader Capsule: Coin Grading Disagreements

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Coin Related Bills Move Forward

Bills which will authorize commemorative medals for September 11 and commemorative gold and silver coins for the Star Spangled Banner have passed both the House of Representatives and Senate and will become law with the President's signature.

On July 22, the bill H.R. 4684 passed in the Senate after being passed in the House two days earlier. This bill authorizes the production of one ounce silver medals in commemoration of the 10th anniversary of the September 11, 2001 terrorist attacks and the establishment of the National September 11 Memorial & Museum.

The designs for the medals "shall be emblematic of the courage, sacrifice, and strength of those individuals who perished in the terrorist attacks of September 11, 2001, the bravery of those who risked their lives to save others that day, and the endurance, resilience, and hope of those who survived."

Up to 2 million of the proof silver medals may be struck, with a recommendation included in the legislation that one half of the medals be produced at the West Point Mint and one half at the Philadelphia Mint. Sales of the medals are authorized to begin January 1, 2011. A sales ending date is not specified, although medals could not be struck after December 31, 2012.

Since these would be classified as National Medals, this program does not count towards the maximum of two commemorative coin programs per year. The two coin programs already authorized for 2011 celebrate the Medal of Honor and the United States Army.

On August 2, 2010, the bill H.R. 2097 passed in the Senate after passing in the House on September 9, 2009. This bill would authorize $5 gold and $1 silver coins issued in commemoration of the writing of the Star Spangled Banner.

The designs for the coins "shall be emblematic of the War of 1812 and particularly the Battle for Baltimore that formed the basis for the Star-Spangled Banner."

The coins carry the typical specifications for $5 gold and silver dollar commemorative coins. The maximum authorized mintages are 100,000 for gold coins and 500,000 for silver coins, across proof and uncirculated versions. The coins could be issued during the calendar year beginning January 1, 2012.

The other commemorative coin program already authorized for 2012 will honor the United States Army Infantry and the establishment of the National Infantry Museum and Soldier Center.

The schedule for upcoming commemorative coin or medal programs that have been approved or are awaiting the President's signature appears below.

2011	Coins Included	Status
United States Army	$5 gold, $1 silver, half	Approved
Medal of Honor	$5 gold, $1 silver	Approved
September 11	silver medals	Sent to President
2012
United States Army Infantry	$1 silver	Approved
Star Spangled Banner	$5 gold, $1 silver	Sent to President
2013
Girl Scouts Centennial	$1 silver	Approved
2014
Civil Rights Act of 1964	$1 silver	Approved

COMMENTS CLOSED FOR THIS POST.

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2010 Boy Scout Silver Dollars Finally Officially Sold Out

It appears that the proof version of the 2010 Boy Scouts of American Centennial Silver Dollar has finally sold out at the United States Mint. The coin had been lingering on "waiting list status" for an unusually long time.

The United States Mint began sales of the Boy Scouts Silver Dollars on March 23, 2010. Because of the large number of current and former Boy Scouts and the relatively low authorized mintage of 350,000 coins, a sell out was widely expected.

On April 23, 2010, the US Mint indicated that they had received orders sufficient to meet the "maximum limit" for the uncirculated version of the coin. They continued to accept orders for a waiting list, which would have orders fulfilled on a first-come, first-served basis if coins became available due to order cancellations. The waiting list for the uncirculaed coins was closed after a week on April 30, 2010.

Unrestricted sales of the proof version of the coin continued all the way until June 18, 2010. At that time, the Mint began accepting orders for placement on a waiting list. Up until today, more than six week later, orders were still being accepted for the waiting list. This is the longest I can recall seeing a US Mint product under "waiting list status."

The last reported sales figures indicate that 105,000 of the uncirculaed version of the coin had been sold and 245,000 of the proof coins had been sold. The combined individual sales meet the maximum authorized mintage of 350,000 coins.

Some readers have pointed out the lack of any special sets or collectible products related to this year's commemoratives. Last year, both commemorative silver dollars were included in special products, with the Lincoln Coin and Chronicles Set and the Braille Education Set.

The 2010 Boy Scouts Silver Dollar may have been particularly well suited to a special product or set offering. The US Mint could have created a "Young Collector's Set" as they have for some precious commemorative issues. This would have been appropriate for encouraging or fostering an interest in coin collecting for current Boy Scouts. Another potential idea would have been to create a product incorporating the requirements or educational materials to study for receiving the coin collecting Merit Badge. Finally, an excellent reader suggestion was to create a set including a special version of the 2010 Kennedy Half Dollar, since John F. Kennedy was the first former Boy Scout to become President.

Besides this year, I believe that the last time absolutely no collectible products or sets were available for the year's commemorative coins was back in 2003 with the First Flight Centennial Commemorative Coins. Each year since and for most years prior, at least one of the year's commemorative coins has been incorporated into a separately issued set, multi-coin set, or other educational offering.

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2010 Proof Boy Scouts Silver Dollar Approaching Sell Out

The proof version of the 2010 Boy Scouts of American Centennial Silver Dollar is finally approaching the sales level necessary for a sell out. Based on the current pace of sales, the sell out should occur within a week.

The 2010 Boy Scouts Silver Dollar initially went on sale March 23, 2010. Because there are about four million of current youth members of the Boy Scouts of America and as many as 110 million past members, a complete sell out of the maximum authorized mintage of 350,000 coins was widely expected. The coin's design did draw some criticism from some who believed that the design should have focused on the history and continuity of the organization, rather than the highlighting the diversity of current programs.

Coins were available in uncirculated and proof versions, initially priced at $33.95 and $39.95, respectively. More than 200,000 coins were sold during the first week of availability, but in the following weeks, the pace of sales slowed. After four weeks, sales had reached 312,653. Around that time, introductory pricing period ended and prices were increased fro $35.95 and $43.95.

On April 23, the uncirculated version of the coin was put on waiting list status and officially announced as sold out on April 29. For the past month and a half, the proof version of the coin has remained available for sale.

This week, the US Mint released revised sales totals for the Boy Scouts Silver Dollars indicating total sales of 105,000 uncirculated and 243,800 proof coins for a combined total of 348,800. Recently, the proof coins have been selling about 1,600 to 1,800 coins per week, suggesting that a sell out (or waiting list status) will occur within a week's time.

Coin Update News: Fractional 2010 Gold Eagle Sales

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Coin Legislation Update

Back in November, I had taken a look at the schedule for upcoming commemorative coins that have been approved for the next few years. Since that time, there have been no additional commemorative coin programs approved, however a few bills have moved forward.

Most recently, a bill proposing silver dollars to celebrate the establishment of Mother's Day was passed in the House on May 5, 2010. Yesterday, a bill seeking $5 gold, $1 silver, and clad half dollars to recognize 5-Star Generals was passed in the House.

Commemorative coin programs are authorized by Congress. The process begins when a bill is introduced in either the House of Representatives or the Senate. In order for the bill to become law, it must be passed in both the House and Senate, and then signed by the President.

Under current law, only two commemorative coin programs may be approved for each year. Two programs have already been approved for 2011. Only one program has been approved for each of the years 2012, 2013, and 2014, leaving one slot open for an additional program.

The table below shows all of the current commemorative coin proposals and approved programs for each year. The coins included in the program and current status are also included. For 2011, only the approved programs have been listed since the schedule for that year has been filled.

2011	Coins Included	Status
United States Army	$5 gold, $1 silver, half	Signed into Law
Medal of Honor	$5 gold, $1 silver	Signed into Law
2012
United States Infantry	$1 silver	Signed into Law
Star Spangled Banner	$5 gold, $1 silver	Passed House
National Future Farmers	$5 gold, $1 silver	Introduced
2013
Girl Scouts Centennial	$1 silver	Signed into Law
5-Star Generals	$5 gold, $1 silver, half	Passed House
Mark Twain	$5 gold, $1 silver	Introduced
Gettysburg Campaign	$5 gold, $1 silver, half	Introduced
Ronald Reagan	$5 gold, $1 silver	Introduced
2014
Civil Rights Act of 1964	$1 silver	Signed into Law
Mother's Day Centennial	$1 silver	Passed House
US Marshals Service	$5 gold, $1 silver	Introduced
2016
James Monroe	$50 gold, $1 silver, half	Introduced

Some notes on a few of the programs:

The 5-Stars Generals Commemorative Coin proposal specifies that the designs of the coins shall include the portraits of Generals George C. Marshall, Douglas MacArthur, Dwight D. Eisenhower, Henry Arnold, and Omar N. Bradley. I think that this would be a very challenging design to implement. A five headed coin?

The Ronald Reagan Commemorative Coin proposal calls for a design of an American Eagle carrying an olive branch, flying above a nest with another eagle and hatchlings. If this sounds familiar, it's because it is the design which currently appears on the American Gold Eagle bullion coins.

The US Marshals Service Program calls for a $5 gold coin containing one ounce of gold. This would be unusual since one ounce gold coins issued by the US Mint typically carry a $50 face value. The legislation also calls for the gold coins to feature a design in high relief with edge lettering.

The James Monroe coin program seeks a one ounce gold coin with a $50 face value. This would be the highest denomination modern commemorative coin. The authorized mintages specified for the program are lower than typical. The $50 gold coins would be limited to 20,000, the $1 silver coins would be limited to 275,000, and the half dollars would be limited to 500,000.

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2010 Boy Scouts Uncirculated Silver Dollars Sold Out

Less than a week after the 2010 Boy Scouts of America Centennial Silver Dollars were placed on waiting list status, the coins are now officially sold out at the United States Mint.

On Friday, April 23, 2010, the US Mint informed buyers that orders had been received to meet the "maximum limit" for the uncirculated version of the coins. Customers could still place orders to go on a waiting list. Orders would be fulfilled from the waiting list on a first-come, first-served basis with coins available due to order cancellations.

Yesterday, on April 29, 2010, the Mint officially stopped accepting orders for the waiting list and changed the status to Sold Out.

The proof version of the Boy Scouts Silver Dollar remains available for sale through regular ordering, priced at $43.95 per coin.

The most recent US Mint sales report indicated combined sales of 330,602 coins sold across both options, as of April 25, 2010. This left 19,398 coins available for purchase before the maximum authorized mintage of 350,000 would be met. The breakdown of sales between proof and uncirculated versions is shown below.

Boy Scouts Silver Dollar Sales
Uncirculated	107,292
Proof	223,310
Total	330,602

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2010 Boy Scouts Uncirculated Silver Dollars on Waiting List Status

On Friday evening, the uncirculated version of the 2010 Boy Scouts of American Centennial Silver Dollar entered waiting list status. This means that the number of orders received by the US Mint has met the maximum limit, but orders can still be placed on a "first-come, first-serve" basis for any coins available due to order cancellation.

It is a little surprising to see one version of the coin already on waiting list status. At the last available US Mint sales report, total sales for the Boy Scouts coins had reached a combined 312,653 across the proof and uncirculated versions. This meant that there were still 37,347 coins available before the maximum authorized mintage of 350,000 would be met. In the last week of data, the US Mint had sold about 22,000 coins, suggesting at least two more weeks of sales remained.

I think there are two possible explanations for the waiting list status on the uncirculated version. First, one or more bulk bulk buyers could have ordered large quantities of the coins. The orders may have been placed early last week before the price increase took place. There is an order limit of 100 units per version per household, but even a single buyer could coordinate a large purchase with some help.

If the waiting list status was caused by a large influx of orders, then the proof version might be close to entering waiting list status too, provided that the orders were placed across both versions of the coin.

Alternately, the US Mint may have miscalculated the split in production between the different versions of the coin. The maximum authorized mintage of 350,000 coins covers both proof and uncirculated versions. The split in production is generally determined based upon demand. As a practical matter, I think the US Mint most likely takes a look at the proportion of orders before the last production run and then produces coins accordingly. If the proportion shifts after this point, then one version could sell out faster than the other.

Tomorrow when the latest US Mint sales report is available, we should have a better picture of whether the Boy Scouts Silver Dollars are close to the overall 350,000 maximum, or if the uncirculated version was under produced.

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Boy Scouts Silver Dollar Sales at 89%, Prices Increase Tomorrow

The latest US Mint sales report shows the 2010 Boy Scouts of America Centennial Silver Dollars at 89% of the maximum authorized mintage. However, with introductory pricing ending tomorrow, the pace of sales will likely slow, delaying the widely anticipated sell out.

Through April 18, 2010, the United States Mint has recorded sales of 211,333 proof coins and 101,320 uncirculated coins. This makes for a combined total of 312,653 coins, representing 89.32% of the maximum authorized mintage of 350,000.

In the latest week, the US Mint sold a combined 22,261 coins, which is down only slightly from the prior week's sales of 23,875. If the pace of sales remained at the current pace of around 20,000 per week, a projected sell out date would be only two weeks out. However, I think the pace of sales will likely decline from this level, pushing the anticipated sell out date further into the future.

Tomorrow, on April 21, 2010 at 5:00 PM ET, the introductory pricing period for the Boy Scouts Silver Dollars will come to an end. The price of the proof coin will be increased form $39.95 to $43.95 and the price of the uncirculated coin will be increased from $33.95 to $35.95. Because the introductory pricing period is well established, most buyers make their commemorative coin purchases within the first month of sales at the lower prices. After "regular pricing" goes into effect, the pace of sales usually falls to much lower levels.

After the introductory pricing ended for this year's American Veterans Disabled for Life Silver Dollars, the pace of sales dropped from around 12,000-14,000 coins per week to sales of 7,010 and 3,427 coins for the two weekly periods following the price increase.

If the general pattern holds for the Boy Scouts Silver Dollars, a sell out probably will not occur for another month or more.

View the full weekly US Mint sales report on Coin Update News.

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Boy Scouts Silver Dollar Sales Reach 266,517

The latest sales figures for the 2010 Boy Scouts of America Centennial Silver Dollar are now available. The strong opening figures have followed by a sharp decline in the pace of sales for the second week of release

In the week ended April 4, 2010, the US Mint sold an additional 35,244 proof coins and 16,600 uncirculated coins. The latest week's combined sales of 51,844 added to the opening week's sales of 214,673 brings the overall total to 266,517. This now represents 76.1% of the 350,00 maximum authorized mintage.

With newly released US Mint products, the pace of sales tends to decline somewhat rapidly during the first several weeks of availability, unless some external factor sparks renewed demand. For example, the weekly sales recorded for each of the first four weeks of sales for the American Veterans Disabled for Life Silver Dollar were 98,358 in the debut week, followed by 33,476, then 22,102, and finally 12,432 by the fourth week.

If the pace of sales for the Boy Scouts Silver Dollars follows a similar trajectory, the coins may remain available at the US Mint for at least a few more weeks.

The end of introductory pricing is also on the horizon for the Boy Scouts coins. After April 21, 2010 at 5:00 PM ET, regular pricing will go into effect. The price of the proof coin will increase by $4 to $43.95, and the price of the unicrculated coin will increase by $2 to $35.95.

Find the full weekly US Mint sales report on Coin Update News.

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2010 Boy Scouts Centennial Silver Dollar Sales Debut at 214,673

The latest US Mint sales report has just been posted over at Coin Update News. The report includes the opening sales figures for the 2010 Boy Scouts of America Centennial Silver Dollar. As expected, the opening numbers were strong, but there is still some way to go before a sell out.

Through March 29, 2010, the US Mint reported combined sales of 214,673. This total is made up of 144,732 proof coins and 69,941 uncirculated coins. The maximum authorized mintage for the commemorative coin program is set at 350,000 across all ordering options.

To put the opening numbers in perspective, the 2010 American Veterans Disabled for Life Silver Dollar, which went on sale February 28, 2010, recorded opening sales of 98,358. Total sales to date are now 179,052.

From last year's programs, the 2009 Abraham Lincoln Silver Dollar had debut sales figures of 177,722. The 450,000 coins allocated for individual sales had sold out after just over one month. The 2009 Louis Braille Silver Dollar recorded debut sales of 70,274 and eventually sold 167,526 coins across all options.

Using these recent commemorative coin issues as a guideline, it seems fair to say that the Boy Scouts Silver Dollar will sell out within a month at the most. Perhaps sooner, as I think the pace of sales will remain more buoyant as compared to other commemorative coin issues.

Check out the full sales report at Coin Update News.

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2010 Boy Scouts Silver Dollar Coins

The 2010 Boy Scouts of America Centennial Silver Dollar will go on sale at the United States Mint tomorrow, March 23, 2010 at 12:00 Noon ET.

The Boy Scouts Silver Dollar obverse features an image of a Cub Scout, Boy Scout, and female Venturer saluting with an inscription "Continuing the Journey". The reverse features the universal emblem of the Boy Scouts of America.

The design has not been without controversy. Some have questioned the portrayal of a girl on a coin for the Boy Scouts. The female depicted is a member of the Venturing program, which allows both male and female members, aged 14 to 21. The Girl Scouts of America will actually get their own commemorative silver dollar in 2013.

The authorizing legislation had called for a design "emblematic of 100 years of the largest youth organization in the United States, the Boy Scouts of America." The final design was selected by the Secretary of the Treasury after consultation with Commission of Fine Arts (CFA), the Chief Scout Executive of the Boy Scouts of America, and review by the Citizens Coinage Advisory Committee (CCAC). View some of the unselected candidate designs in this post.

The 2010 Boy Scouts Silver Dollars will be minted in proof and uncirculated versions at the Philadelphia Mint. The maximum mintage across both versions is 350,000, as specified by the authorizing legislation.

For the start of sales, the proof version of the coin will be priced at $39.95 and the uncirculated version will be priced at $33.95. These prices represent introductory pricing, which will be in effect until April 21, 2010, 5:00 PM ET. After this time, regular pricing of $43.95 for proof coins and $35.95 for uncirculated coins will go into effect.

The US Mint has imposed an ordering limit of 100 coins per version, per household.

As mentioned previously, I think that the coins will achieve a sell out of the maximum authorized mintage of 350,000 due to the broader appeal of the subject. In addition to demand from coin collectors, this program will have demand from past and current members or those associated with the organization. According to Wikipedia, there are currently four million youth members of the Boy Scouts of America. Since the organization's founding, more than 110 million Americans have been members.

I am not sure this will be a one-day sell out. Last year's popular Abraham Lincoln Commemorative Silver Dollar took more than one month to sell out. Even the 2001 American Buffalo Silver Dollar took about two weeks to sell out. Although many non-coin collectors will be interested in buying the Boy Scouts Silver Dollars, I am not sure they will have the sense of immediacy to purchase coins on the opening day of sales. That said, I will still be placing my order on the first day, just in case.

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American Veterans Disabled for Life Commemorative Sales at 98,358

The first sales figures are available for the 2010 American Veterans Disabled for Life Silver Dollars. The coins recently went on sale February 25, 2010 with introductory pricing in effect.

Through February 28, 2010, the US Mint has recorded sales of 66,209 proof coins and 32,149 uncirculated coins. This makes for a combined total of 98,358. The maximum authorized mintage for the coins is set at 350,000 across all options, meaning that sales have reached 28.10% of the total after just a few days of sales.

With the strong opening sales, is a sell out possible?

Last year, the Louis Braille Silver Dollars had recorded opening sales of 40,844. After two weeks, sales had reached 70,274. The last reported sales in mid-December was 217,874 across all product options.

The more popular Abraham Lincoln Silver Dollar had achieved opening sales of 177,722 across both proof and uncirculated versions. Within about five weeks, sales had risen to the 450,000 level required for a sell out of the individual options. Out of the maximum authorized mintage of 500,000 coins, 50,000 were reserved for the Lincoln Coin and Chronicles Set released later in the year.

So far, the American Veterans Disabled for Life Commemorative falls directly in the middle of last year's two programs in terms of velocity of sales. At this early point, I am inclined to think that the coins will eventually sell out of the 350,000 maximum authorized mintage, but the sell out won't occur until much later in the year.

Go to Coin Update News to view the full US Mint sales report for weekly sales through February 28, 2010.

Separately, I wanted to take a moment to mention a new feature on Coin Update News, gold and silver market commentary by Patrick A. Heller. His commentaries will appear usually twice per week, with new articles published on Tuesdays and Thursday or Friday. Pat Heller owns Liberty Coin Service in Lansing, Michigan and writes the newsletter "Liberty's Outlook." He is also the gold market commentator for Numismatic News.

The latest article was published yesterday: Largest Private Refinery Discovers Gold-Plated Tungsten Bar

Go to the page Gold and Silver Commentary to find past articles and new articles as they are published.

Regular features on CoinUpdate.com also include weekly US Mint sales reports, monthly US Mint bullion sales reports, Michael Bugeja's Coingrader Capsule, and the periodic news roundup.

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American Veterans Disabled for Life Silver Dollar Commemorative

Tomorrow February 25, 2010 at 12:00 Noon ET, the United States Mint will begin sales of the 2010 American Veterans Disabled for Life Silver Dollar. This is one of two commemorative coin programs scheduled for 2010, each including the issuance of a silver dollar.

The obverse of the American Veterans Disabled for Life Silver Dollar features the legs and boots of three veterans. A banner across the top reads "They Stood Up for Us". Below the image, "In God We Trust", the date and mint mark, and "Liberty" appear.

The reverse of the coin features a wreath of oak branches with a ribbon wrapped around and a forget-me-not flower at the base. A central inscription reads "Take This Moment to Honor Our Disabled Defenders of Freedom". Additional inscriptions "United States of America", "E Pluribus Unum", and "One Dollar" appear surrounding the wreath.

The US Mint will offer proof and uncirculated versions of the coin, both struck at the West Point Mint. Introductory pricing in effect until March 29, 2010 will be $33.95 for uncirculated coins and $39.95 for proof coins. Regular pricing will be $35.95 and $43.95.

There will be an initial ordering limit of 100 units per option per household in effect for at least the first 30 days of release. The US Mint has not made any indication that a special set will be created for this commemorative coin program. Only the two individual ordering options have been mentioned with a maximum authorized mintage of 350,000 across both options.

The other commemorative program for this year will feature the 2010 Boy Scouts of America Centennial Silver Dollar. This coin is currently scheduled for release on March 23, 2010.

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2010 Commemorative Coin Pricing

The pricing for the United States Mint's 2010 Commemorative Coins was recently revealed in a notification published in the Federal Register. The two programs for this year will include the 2010 American Veterans Disabled for Life Silver Dollar and the 2010 Boy Scouts of America Centennial Silver Dollar.


The uncirculated version of each coin will have an introductory price of $33.95 and a regular price of $35.95. The proof version of each coin will have an introductory price of $39.95 and a regular price of $43.95. Each price level will represent a $2 increase from the levels set for last year's programs.

The notification only included prices for the individual coins. However, this does not preclude the issuance of specially packaged sets. Last year, separate pricing announcements were published prior to the release of the Lincoln Coin and Chronicles Set and the Braille Education Set. These sets were first mentioned within the press releases announcing the start of individual coin sales and details were provided at a later date.

The American Veterans Disabled for Life Silver Dollar is scheduled for release on February 25, 2010, with introductory pricing available until March 29, 2010. The Boy Scouts of America Centennial Silver Dollar will be released on March 23, 2010, with introductory pricing in effect until April 22, 2010. Both coins have a maximum authorized mintage of 350,000.


I haven't provided my thoughts on the prospects of each release yet, but I do think the Boy Scouts Silver Dollar will sell out of the entire 350,000 authorized mintage. Despite the fact that many collectors and former Boy Scouts have expressed their opinion that the obverse design could have been better chosen, I think this will be outweighed by the broader appeal of the subject.

I have received an unusually high number of inquiries over the past few months from non-collectors who heard about the coins and wanted to purchase them, but did not know where to find them. (I have been directing these people to the US Mint's website and providing the release date.) As long as the US Mint can get the word out to the broader public, I don't see these coins remaining available for more than two months. I will take a closer look at each coin closer to the release date.

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