The U.S. Mint sold out of a limited edition run of 50,000 gold baseball coins only four days after the issue was released. The special gold coin is part of the 2014 Baseball Hall of Fame Commemorative Coin program.
Although the coins were marked with the denomination of $5, they were actually listed at $424.75 each. Coins are regularly valued on the market at a different scale than their denomination for their precious metal content, scarcity and value to collectors.
U.S. Mint spokesman Michael White reported that all 50,000 coins had been sold by Monday afternoon. He also reported that demand has been high for the program’s $1 silver coin and half-dollar clad coin.
"I would really say the sales have been unprecedented for a three-coin program," White said.
“The National Baseball Hall of Fame Commemorative Coin Act of 2012 authorized the mint to issue 50,000 of the gold coins, 400,000 silver coins and 750,000 half-dollar coins as part of the program. A surcharge on each coin benefits the National Baseball Hall of Fame and Museumin Cooperstown, which turns 75 this year,” wrote Mark Weiner in the Post-Standard in Syracuse, NY.
The baseball commemorative coins each have a curved and slightly domed head, suggestion the curve of a baseball. These coins are the first curved coins issued in the Mint’s history.
The Mint has not run out of a commemorative coin pressing since 2005, when all 500,000 of its U.S. Marine Corps silver dollar coins were sold, according to White. The mint issued an additional 100,000 silver coins to meet the demand.
U.S. Rep. Richard Hanna, R-Barneveld, whose district includes Cooperstown, and U.S. Sen. Kirsten Gillibrand, D-N.Y., sponsored the National Baseball Hall of Fame Commemorative Coin Act to authorize their production.
"We knew from the start this coin would make history as the first domed coin to be produced by the mint," said Hanna. "At no cost to the Treasury or taxpayer, these sales will greatly benefit the Baseball Hall of Fame in Cooperstown and ensure that the history of our national pastime will be chronicled and celebrated for generations to come."
The Mint limited orders to 50 coins per order for the gold coin, 100 coins per order each for the silver coin and the half-dollar coin.
You can see lots of additional images of the Hall of Fame commemorative coin on the link to Syracuse’s Post-Standard.