Mint Holds Clearance Sale
By David C. Harper
The U.S. Mint is holding a clearance sale.
Hundreds of current and past products are being offered to collectors to clear out fulfillment centers in Memphis, Tenn., and Plano, Texas, in preparation for a January move to a new center in Plainfield, Ind.
The news confirms online speculation that some numismatic versions of American Eagle and Buffalo precious metal coinage will not be offered again. However, the extent of program terminations offers a few surprises.
Uncirculated platinum American Eagles with the "W" mintmark in all sizes end with this year's coinages.
American Eagle platinum proofs come to an end, too, except for the one-ounce coin.
Uncirculated gold American Eagles will be discontinued except for the one-ounce size.
All American Buffalo uncirculated "W" collector versions will be ended.
Proof American Buffalo gold coins will be stopped except for the one-ounce coin.
Other terminated products include new ones like Presidential dollar Signature Sets and the proof Presidential dollars sold individually.
Old ones, like state quarter First Day Coin Covers and Greetings from America Portfolios and Card Sets, are coming to an end after the 10-year program concludes.
"It will be limited time. First come, first served," said Mint Deputy Director Andrew D. Brunhart. "No household limits. All sales will be final. If you're wondering, we won't exceed any Mint limits."
The sale, which began Nov. 15, concludes at 5 p.m. Dec. 19, but some products are likely to be gone well before then.
Of those that don't sell, Brunhart says, "We're going to be doing a significant detrashing and melting (of) the products that do not sell by Dec. 19. Those products will be immediately broken down and sent to the melter."
The clearance sale is part of a major re-evaluation of the Mint's product line. Brunhart said the product offerings will be reduced from more than 550 available in 2008 to roughly 200.
Leftover 2008 products will stay on sale until June, when they will get the same detrashing and melting treatment.
"From now on at the end of each year, we will examine our portfolio to make sure the warehouse is not stuffed with products they (Mint customers) don't want," Brunhart said. "We're undergoing a significant renewal of our numismatic portfolio in 2009. We have too many products. We have heard loud and clear from our collecting community. We are responding to that. We will be focusing our resources on key products (with the) broadest appeal.
"Fewer products to concentrate on will enable us to bring out and offer much earlier in the calendar year our key products."
The benefit to collectors will be earlier release of hobby favorites.
"Four of these, clad proof sets, silver proof sets, uncirculated sets and silver American Eagles (will be offered) in January of each year," Brunhart said.
