The Eisenhower Coin and Chronicles set has dropped in value on the secondary market after a quick sellout at the Mint.
The set contains an Eisenhower reverse proof Presidential dollar, silver inauguration medal and stamp. It went on sale for $57.95 on Aug. 11 and sold out in 15 minutes. This occurred despite a reduction in the household order limit from five sets to two sets after the Truman Coin and Chronicles set sold out on Jun. 30. Each set has a product limit of 17,000.
There were brief opportunities to purchase sets since Aug. 11 as the Mint processed unpaid and household limit breaking orders. The Mint has concluded with those sales. A small remainder are kept on hand to fulfill returns. The only option for purchasing an Ike set now is on the secondary market.
On Aug. 19, eBay had 21 sales of single, opened Ike sets conclude with the average price being $195. Prices ranged from $164 paid for a lightly damaged set to $219 for a set.
In contrast, the Truman set had a household order limit of five sets. Prices on Aug. 18 (no sales were concluded Aug. 19 at press time) averaged $216 per opened set across 10 sales. The lowest paid was $199 with the highest paid at $227.
The Mint’s decision to drop the Ike household order limit to two sets seems to have affected secondary market prices. The lowered limit put more Ike sets in the hands of collectors, resulting in a lower demand compared to the Truman set.
Even unopened mailing boxes of Ike sets that are typically in demand so collectors can get Early Release or First Strike grading designations have little additional premiums. On Aug. 19, in 11 sales involving 19 sets sold in unsealed boxes, buyers paid an average of $200 a set.
Slabbed Ike sets had yet to appear on the market as of Aug. 20. If they follow the trend that graded Truman sets are setting, MS- and PF-69s will trade around the price of an ungraded set. MS- and PF-70 sets could bring in well over $1,000.
Despite Ike sets seeing a lower price on the market compared to Truman sets, the Ike set is earning buyers over triple the initial sales price. As graded sets appear on the market and ungraded supplies are bought up, collectors could see an increase in price.
Due to the quick sellout of the Ike set, the Mint announced Aug. 12 that it would increase the product limit on the Johnson Chronicles set that goes on sale in October from 17,000 sets to 25,000. The Kennedy Chronicles set available Sept. 16 previously had its product limit raised to 50,000 sets from 25,000.
These product limit increases could give the Johnson and Kennedy sets a lower secondary market price compared to the Ike and Truman sets.
Read Dave Harper’s story to learn more about the issues Ike set buyers encountered and the Mint’s reaction.
This article was originally printed in Numismatic News.
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