Yes folks, we no longer have to wait for the 2009 American Eagle proof coins -- we aren’t getting any. That’s right, the mint has finally decided they will not make them. They also will not be producing the silver eagle proof coins.
The reason relates to the mint’s interpretation of a law requiring the mint to produce bullion coins in quantities sufficient to meet public demand. Therefore, all of the silver and gold blanks are being dedicated to the bullion coins rather than proofs for collectors. The mint had spent most of the year teasing us that the coins would probably be available late in the year.
The rouse is over. We aren’t getting any.
Proof buffalo gold coins, however, are currently available -- but at a whopping price of $1360 a coin (due to fluctuate with the price of gold).
The set includes a 2009 Abraham Lincoln Commemorative Proof Silver Dollar(previously sold out at the mint) and ,
four proof 95% copper one-cent coins with the 2009 one-cent reverse designs (available at the mint for $7.95).
Also included in the set are a reproduction of the Gettysburg Address in Lincoln’s handwriting (thus the chronicles) and a reproduction of a photograph of Abraham Lincoln (big whoop!)
The mint is packaging the product in a "slip-covered leather-like tri-fold case."
The mint is limiting purchases to one per customer. I would expect a reasonably quick sell out since many collectors missed the first opportunity to purchase the Lincoln dollar.
The US mint has halted production of all Jefferson Nickels and Roosevelt dimes for the remainder of 2009. The final mintage totals for these coins will be similar to the 1950's. In particular, the 2009D Roosevelt dime should end up with mintage of only around 50 million. Compare this to the billions that were produced over a decade ago. Why the halt? The first reason is the move towards a cashless society. As Americans use credits cards for even the smallest of purchases, the need to produce coins and paper money diminishes. The larger reason, however, is the recession. When the economy was doing well, Americans dumped their daily change into boxes or drawers. Now that there's a recession, those boxes and drawers are being tapped. Ergo, there is no need for new coins. It will be interesting to see how many older coins suddenly turn up in circulation.