West Point Numbers Drop|
November 01, 2013
Collectors rescinding orders and other adjustments caused the Mint to reduce by 45,621 the total number of two-coin 2013 West Point silver American Eagle sets it has reported sold.
The new number of 235,689 works out to a drop of more than 16 percent from the original order total of 281,310 sets that the Mint had recorded by the June 6 deadline.
The Mint announced the new figure Oct. 25. It is now very similar to the order total for last year’s two-coin set honoring San Francisco, which is 224,981.
In effect, the reduction in total orders for the 2013-W set canceled out the demand surge that occurred in the last 24 hours of set availability. This collector buying in the final day totaled 38,084 sets.
There is a growing number of collectors who order sets in the expectation of being able to submit them to third-party grading services and then getting them slabbed as more valuable early strikes.
When Mint delivery time stretches beyond the grading service submission deadline, set buyers cancel their orders.
For the 2013-W set, deliveries were not finished until late September.
Large swings in order numbers have become the norm for special American Eagle sets. Collectors ordered 88,000 of the 2013 West Point set during the first two hours of availability on May 9. In the first 19 hours collectors purchased 140,648 sets and in the first seven days the order total was 191,726.
What these numbers mean is that in effect in the final three weeks of a four-week order period, the Mint achieved a net order gain of 43,963 sets.
The two-coin 2013 West Point American Eagle set features a reverse proof and the new enhanced uncirculated silver American Eagle coin.
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