Could the 2007 Sacagawea become a Key Date?

[cpm9ball]

There is an interesting article on the front page of the latest Coin World (Nov. 5). Apparently, the language of the Native American $ Coin Act that was just passed last September supersedes the provision of the Presidential $ Coin Act of 2005 which required that one Sacagawea be struck and placed into circulation for every three Presidential $ coins struck. Despite the fact that the Native American $ Coin Act requires that one Sacagawea be struck for every four Presidential $'s, it appears that the specific language of the legislation will enable the Mint to halt production of the Sacagawea for the remainder of 2007.

 

As a result of the Mint's decision, the mintage from production earlier in the year stands at 3.64 million from Philadelphia and 3.92 million from Denver. These would be the lowest production figures for the entire series: 2000 - 1.3 billion, 2001 - 133 million, 2002-2006 - between 5 & 8 million each year. A Mint official also stated that 2008 production would be similar to 2007.

 

If you think those production numbers are low, take a look at the NGC Census:

 

2007-P: MS67 - 246; MS68 - 33 (and I originally had 14 of them!)

2007-D: MS67 - 27!!; MS68 - NONE!!!!!

 

I just went through another "D" bag and I found 28 that might garner 67's. I'm basing this on an actual comparison to the 34 - MS67's I have for the 2007-P.

 

In the meantime, I think I'll order a few more bags!

 

Chris

[EZ_E]

That's interesting. Thanks for the info, Chris. Still, c. 4M is more than adequate to fill collector demand. If the 2007 is really hyped then I can see a sharp price increase for the date, otherwise, no.

 

Still, I think I may pick up the rolls.

 

I have a roll of the P & D 2002 Kennedy halves with a mintage of but 2M for each mint but I've never heard any hype on those.

[cpm9ball]

I had good success with the 2007P bag. Better than 19% graded 67 & 68. So, I'm going to order 2 more bags just to see if the average remains the same. If it takes a nosedive when I go through the first bag, then I'll keep the second bag unopened.

 

The 2007D bags are another story. The first one I went through was so bad that I just took them to the bank. I ordered another bag, and found 28 coins that have potential. I'm going to order two more bags and search both. I don't know. I might keep one unopened. I guess I'm just a sucker for punishment, but I just can't believe that all of them could be so bad. If I get lucky and find a few that will grade 68, it will have been worth the effort and expense.

 

The Kennedy has been around for 44 years, but the Sacagawea is only in its 8th year and the Mint halted circulation just a little more than a year after it was introduced. I think it has potential when you consider that the Mint will be producing a new Sacagawea in 2008 or 2009 that will be more like a commemorative. What do you think would happen if the new Sacagawea created a new segment of collectors like the States Quarters program? I'm not saying that there would be a massive influx into the hobby on the same scale as the SQ program, but even on a much smaller scale, don't you think there would be those new collectors who would want to acquire complete sets? It's the old law of supply and demand. Wouldn't those years with the lowest mintages and scarcity of higher grades put them at a premium level?

 

Chris

[cpm9ball]

Wouldn't you know it! I just left the Mint website. The 2007P bag is no longer available, so I ordered 4 of the "D" bags.

 

Chris

[EZ_E]

So, you ordered a bag of D mint coins at a substantial premium from the mint and just turned them into the bank at face??? Chris, you doofus! hahahaha... Now, that's the third time I've been able to say it. Must be true then...

[cpm9ball]

What did you expect me to do? I cut my losses and moved on. Besides, I don't consider 30c per coin (shipping included) to be substantial. Say, would you like to buy a 2007P Sacagawea $, NGC MS68, Business Strike for $250? Do you get my drift, kumquat?

 

Chris

 

PS. Do you know what doofus means? It's a term applied to any man who has left his dog on the balcony all night and then watches as the dog pees on his foot.

I've never owned a dog.

[Dcoin]

Down the road it may be a similar case like the 1950D Jefferson. Where it was known to have a low mintage, yet there are more un-circulated than circulated.

[jackson64]

I think that ANY circulated Sacagawea is probably the exception...my guess would be about 90% or better are uncirculated..

 

PS: I did buy a few P&D mintsets...the Presidential dollars are reportedly getting higher grades on average, with rumors of some 68's being graded ( I pity the collectors who paid over a grand each for "top pop" 67's before mint sets were released...duh).......the Sacagaweas also look to be of extremely high quality in my mint sets...I may eventually submit one top, whole set of each mint and see how things shake out

[bsshog40]

I don't know about that percentage there Jackson. I would presume that the majority would be uncirculated, but these are used alot for postal vending machines and there are alot of those around. Sometimes you can even catch them still throwing out SBA's.

[jackson64]

I didn't know that postal macjhines accepted Sacs...thanks for the info Boss.....also, I wouldn't mind looking through the SBA's to see if there were a few wide rims...

[bsshog40]

Mostly what I've seen from them are alot of 2000 series Sacs and then the SBA's are mostly 79's & 80's. Don't know if I've ever seen an 81' SBA out of one of these machines. Haven't seen a wide rim out of one yet, but there is always that possibility.

[cpm9ball]

I think that ANY circulated Sacagawea is probably the exception...my guess would be about 90% or better are uncirculated..

 

PS: I did buy a few P&D mintsets...the Presidential dollars are reportedly getting higher grades on average, with rumors of some 68's being graded ( I pity the collectors who paid over a grand each for "top pop" 67's before mint sets were released...duh).......the Sacagaweas also look to be of extremely high quality in my mint sets...I may eventually submit one top, whole set of each mint and see how things shake out

 

Jackson, the mint sets have the satin finish and the business strikes do not. That is why you will find higher prices paid for the business strikes. They are harder to find. If you check the Census since the advent of the SMS in 2005, you will see that hundreds, even thousands, of high grades are reported for the satin finish where only a few dozen are reported for the business strikes.

 

Chris

[just-john]

always though everything made after 1964 was being hyped new anything in a census is being hyped.

Heck i just noticed the gas in my car's gas tank value going up faster than my house-

Mexicans are heading back south of the border --golds at $840.--but it takes $130.00 to fill my gas tank - someday I may have to get a job- o the terror.

[bsshog40]

Dang John, either you have a big gas tank or gas is alot higher where you're at!

[just-john]

TWO Toyota Land cruiser 2 gas tanks 45 gal 8 to 10 mpg

[bsshog40]

TWO Toyota Land cruiser 2 gas tanks 45 gal 8 to 10 mpg

Okee dokee!