Has the Mint learned how to market the annual coin and currency sets? Collectors will know when the third release arrives June 16.
The 2016 Native American Dollar Coin and Currency Set will include an enhanced uncirculated 2016-S Native American dollar coin, exclusive to the set. It will most likely be partnered with a Federal Reserve Note, as in past year’s sets.
At press time, the only details that have been released are that the dollar coins were struck in San Francisco. This continues the policy of changing mint locations with each set. The first two sets were struck in Denver and West Point, respectively.
The 2014 Native American Dollar Coin and Currency Set caught collectors by surprise when it released Nov. 20, 2014, at price of $13.95 per set. The Mint initially did not specify that the dollar coin had an enhanced uncirculated finish. Also included in the 2014 set was a Series 2013 $1 Federal Reserve Note, though most eyes were on the dollar coin.
With enhanced uncirculated coins, some elements of the coin design are accented. The process requires a combination of laser treating and wire brushing the dies. The Mint has used the finish on just four coins so far: the 2013-W enhanced uncirculated silver American Eagle, the 2014-S enhanced uncirculated silver Kennedy half dollar and the past two coin and currency sets’ dollar coins.
Sales of the 2014 set were brisk once collectors became aware of the special finish on the dollar coin in it and the set was reported unavailable on Nov. 24. Additional sets were available towards the start of December. All 50,000 sets produced were purchased before year end.
The 2015 Native American Dollar Coin and Currency Set, on the other hand, experienced drawn out sales. The Mint had learned its lesson and increased the mintage to 90,000, instituted a five-set- per-household order limit and raised the price to $14.95.
However, the Series 2013 $1 note in the 2015 set now had a tie-in to the coin: a serial number starting with “911” to commemorate the Mohawk ironworkers 9/11 recovery efforts.
It went on sale Aug. 24, 2015, with 44,344 sets sold the first day. By Dec. 1, with only around 75,000 sets sold, the Mint lifted the household ordering limit. The set then sold out shortly thereafter, but went back on sale once returns were processed.
It languished short of a sellout during the first half of 2016. As of May 30, 2016, 88,284 2015 sets had sold. As of May 31, it was unavailable at the Mint.
On the secondary market, the 2014 coin and currency set remains a winner. As of June 1, completed sales listings show the set trades around $25 to $35 a set.
For graded examples, buyers should note that Professional Coin Grading Service used Mint State for designating the 2014 release while Numismatic Guaranty Corporation used a Specimen strike designation. MS-/SP-69 examples are easily found and trade around the same price as an ungraded set.
In MS-/SP-70, the 2014 enhanced uncirculated dollar really takes off. Sales are few and far between, with only a $20,000 buy it now or best offer listing currently on eBay.
PCGS, having seen 2,439 2014-D enhanced uncirculated dollar coins, has only graded three at MS-70. NGC has seen 5,168 sets with 17 making SP-70.
The 2015 set is much more available and modestly priced. Sales on eBay range around $15 to $20 for an ungraded set. SP-69 certified coins are not much higher. SP-70s range around $35 to $40 for NGC slabbed examples, or $55 to $90 for PCGS ones. PCGS has graded 1,020 as SP-70 out of 3,156 submitted. NGC certified 2,047 as SP-70 within 4,346 sent in.
Collectors have been on a roller coaster with the first two Native American Dollar Coin and Currency sets. Where will it take them and the 2016 set?