CoinWeek Staff Reports….
 

UPDATE, 5-10-15: Here are daily cumulative sales figures for each day last week following the May 4 release of the March of Dimes Special Silver Set, courtesy of the U.S. Mint:

  • May 5 – 52,540
  • May 6 – 58,129 | (+5,589)
  • May 7 – 63,882 | (+5,753)
  • May 8 – 66,109 | (+2,227)

UPDATE, 5-5-15: According to Lateefah Sims, Public Affairs Specialist in the Office of Corporate Communications at the United States Mint, first-day sales for the March of Dimes Special Silver Set totaled 52,540 units.

The United States Mint 2015 March of Dimes Special Silver Set went on sale at 12:00 PM Eastern Standard Time (EST) today, and within an hour of its release the coin set is already on backorder.

Periodically checking up on the silver set’s product page at usmint.gov, the set’s backorder status was first noticed by CoinWeek shortly after 1:00 PM EST. The button a customer clicks to add an item to his or cart says “Back Order”, and clicking on “Learn More” immediately beneath the “Back Order” button generates the following pop-up notice:

This item is available to be ordered now, but it is not currently in stock. Additional inventory is being made. Please add the item to your cart to see when additional inventory is expected to be available.

According to the Mint, the expected date of delivery for additional inventory is Thursday, August 13, 2015.

CoinWeek reached out to the U.S. Mint’s Office of Corporate Communications but cannot as of yet determine whether this backorder notification is indicative of a sell out.

Interest in the March of Dimes Special Silver Set–specifically the U.S. Mint’s first-ever Reverse Proof Roosevelt Dime (P)–has been keen, and anticipated demand for today’s release has been high. Numismatic Guaranty Corporation (NGC) has already created special designation labels and prepared special submission instructions for its customers.

modsetThe March of Dimes dollar by itself has thus far received a lukewarm reception from collectors, with 42,424 proofs and 19,434 uncirculated examples sold according to the latest sales figures from the U.S. Mint, released last Tuesday.

If the March of Dimes Special Silver Set does sell out, the number of proof dollars sold in the program will eclipse 117,000. This will put the coin squarely ahead of the U.S. Marshals dollar, which has sold 82,895.

Still, it’s not the Proof dollar but the two dimes that will carry this set. CoinWeek expects a brisk secondary market to be made in certified examples of both the silver W-Mint Proof and the silver P-Mint Reverse Proof dimes.

How long the market sustains these two certified issues is anybody’s guess. Presupposing a sell out, both coins would be among the lowest mintage proofs in the venerable coin’s 69-year production history.

CoinWeek’s Coin Analyst will continue to monitor the situation and update this article as new data is made available.
 

6 COMMENTS

  1. Logged into website around 1155 and went through order process as soon as button changed to “Add to bag”. System hung up and then got message that website couldn’t be found. Redid process and it went through OK. Total of less than five minutes. However, in my redo I changed the number I wanted from 5 to 3.

  2. Why would anyone get any of these coins graded? I guess it’s greed because we all know that PR70s are the most marketable. The minor difference between a 70 and slightly less perfect proof coin is trivial to me. I think we should stick to just grading classic coins, if at all.

  3. @joe s.
    I agree 100%. All fresh-from-the-mint numismatic “products” should grade 69 or 70. Does a PCGS or NCG grader’s opinion on any given day really infuse additional value into that coin? I say no, it is just propaganda and marketing that unfortunately has influenced many coin collectors to believe once it is slabbed as 70 that the coin has more value. I’ll keep mine in their original mint packaging and be just as happy. The whole purpose of the third party grading companies has gone off the rails, indeed we should stick to submitting classic coins. Give me a break.

  4. Brian, I’m glad to here another collector agree. I just don’t see the purpose of putting a virtually perfect modern coin into a TPG holder. It’s expensive and it’s unnecessary as we know. Maybe it’s the dealers who send in a lot of coins at a time and get a discount and then make good profits selling them. I don’t know, it’s just an annoying part of this hobby and the TPGs shouldn’t receive any respect for this

  5. 100% correct…anyone paying large premiums for modern coins graded “70” by a grading service will likely be very disappointed in 15-20 years time. There is enough of this material to meet collector demand in most cases and premiums will likely be reduced….witness 1999 silver proof quarters……once the hype dies down the premiums go away. That said, if I were collecting $1k+ classic collector coins, I would want them graded by a third party service for the protection it provides against counterfeit or cleaned coins etc.

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