Truman set profits fluctuate

When the United States Mint released the Truman Coin and Chronicles set on June 30, collectors were quick and the sets sold out in 15 minutes.

The sets were again offered in very brief sales periods on July 1 and July 3 as the Mint adjusted for returns. The latest sales data at the Mint show 16,825 sets have been sold as of July 5. There has been no word yet on what happens to the 175 sets remaining.

As for the secondary market, the set’s performance on eBay has been steady since release.

As of July 9, individual sets were trading for around $120 to $130 with five-set boxes around $620 to $630. These prices are similar to what has prevailed since the day of the sellout.

On June 30, individual sets were selling online for around $130 while sealed shipping boxes of five sets were going for around $625 to $630, even after the reported sellout.

Six hours after sellout prices started to rise and sellers were getting between $140 and $150 per set and around $675 to $715 for sealed boxes of five sets.

The brief price rise collapsed quickly and by July 1 sets were back to $130 with five set boxes around $620 to $650.

Only two offerings of graded reverse proof Truman Presidential dollars have been on eBay so far sold by the same seller. He sent in five sets for grading at Numismatic Guaranty Corporation and received four (Reverse Proof) RP-69s and one RP-68, all designated early release. One RP-69 was initially put on sale as a buy it now listing where it sold for $189.88 on July 6.

The same seller then ran an auction for another RP-69 Truman dollar. After 45 bids, the coin sold on July 8 for $320.

Since no grading service has published totals so far on the grades of submitted reverse proof Truman dollars, it appears the market is still figuring out a good price for graded examples. When more are graded and come on the market, expect a more definite price.

The other issue influencing secondary market prices for Truman sets is the fact that there are still three more reverse proof Presidential dollars that will be released in 2015.

The next release, the Dwight D. Eisenhower Coin and Chronicles set, goes on sale Aug. 11. It will be followed by the John F. Kennedy set on Sept. 18 and the Lyndon B. Johnson set sometime in October.

Those sets are priced by the Mint at $57.95 each. Both Eisenhower and Johnson have product limits of 17,000 sets as was the Truman limit, while the Kennedy limit is higher at 25,000.

If a collector buys each set from the Mint, it’ll be a $240 price tag once shipping is accounted for. If a collector buys a single set for each president on the secondary market, they’ll be looking at a $500 investment for the year. Sellers will probably want even more for graded sets.

It’s possible the market may become saturated with reverse proof coins in special sets. New releases always capture the attention of collectors while previous releases tend to fade in interest. Time will tell if this is the case, but it’s possible Truman set prices will drop as collectors gear up for the reverse proof Eisenhower dollar set.

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