It is an interesting historical coincidence that just as we are about to celebrate the 200th anniversary of the birth of our 16th President, Abraham Lincoln, the nation elects a President who deeply admires him.

Certainly the crises that face the nation in 2008 are not the same as those that afflicted the country during Lincoln’s term of office, but the quality of dogged determination to set a goal and see things through despite the distractions and panics of those around him is certainly one that is needed in the coming months.

Tomorrow is the official unveiling of the Lincoln silver dollar (An earlier version posted two hours before this is written said four cents. My apologies. My automatic pilot must have kicked in as I was writing, but a kind reader sent me an e-mail about it.) The chosen place is Gettysburg, Pa., where the tide-turning battle for the Union was fought in early July 1863.

Tomorrow also happens to be the anniversary of Lincoln’s Gettysburg Address. The timing and location are good choices by the Mint for the event.

But while I am on the subject of Lincoln, there is something else that can be studied by our new leaders from the Lincoln administration. That is how the U.S. Treasury managed to raise the incredibly large sums to fight the Civil War without sending the country into an inflationary death spiral as some worry about today with our banking system bailout.

Salmon P. Chase’s Treasury was forced to be innovative. National Bank Notes were introduced, but instead of just printing them, every bank in the country that wanted to issue them had to first buy federal bonds – debt – to back them. These bonds guaranteed that should the bank go bust, the bonds could be sold to cover the value of the notes to holders of the currency.

The bonds were loans to the Treasury to pay for the war. The bonds also were assets of the banks that held them. This is a concept that has worked for almost a century and half. Even today, federal bonds are the assets of the Social Security trust fund. They also are loans to the federal government.

Chase proved that large sums of money properly handled need not be inherently destructive and in fact were beneficial.

On the other hand, the South had no such innovative finance. Paper money was printed in larger and larger quantities and an inflationary spiral helped destroy the Southern economy ahead of the Union Army.

Stores have clearance sales. Now the U.S. Mint will have one too.

Starting at 12:01 a.m. Nov. 15, the Mint will be offering hundreds of current and past products to collectors to clear out their two current fulfillment centers in preparation for moving to a new one in Plainfield, Ind.

The news confirms online speculation that some Mint collector versions of bullion coin products will not be offered again. However, the extent of program terminations perhaps 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 also 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 and end after the 10-year program concludes.

Mint Deputy Director Andrew D. Brunhart says of the clearance sale, “It will be limited time. First come, first served. No household limits. All sales will be final. If you’re wondering, we won’t exceed any Mint limits.”

The sale will conclude at 5 p.m. Dec. 19, but some products are likely to be gone well before then.

Of those that don’ 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 says 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 says.

“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.

Brunhart says, four of these, proof sets, silver proof sets, uncirculated sets and silver Eagles (will be offered) in January of each year.”

Below are the complete lists of discontinued and last chance products:

Discontinued Products
 
United States Mint Presidential $1 Coin Historical Signature SetsTM
United States Mint Presidential $1 Coin – Individual Proof CoinsTM
American Eagle Platinum Uncirculated Coins (all options)
American Eagle Platinum Proof 1⁄2, 1⁄4, 1/10, and Four-Coin Sets
American Eagle Gold Uncirculated 1⁄2, 1⁄4, 1/10, and Four-Coin Sets
American Buffalo Uncirculated Gold Coins (all options)
American Buffalo Proof 1⁄2, 1⁄4, 1/10, and Four-Coin Sets
50 State Quarters® First Day Coin Covers (continue through 2008)
Greetings From America Portfolios and Card Sets
Coin and Die Sets  
Collectible Spoons


Last Chance Product Listing
 
Annual Sets
2007 United States Mint Proof Set®  
2007 United States Mint 50 State Quarters Proof SetTM
2004 United States Mint Uncirculated Coin Set(R)
2006 United States Mint Uncirculated Coin Set®
2007 United States Mint Uncirculated Coin Set®
2007 United States Mint Silver Proof SetTM
2007 United States Mint 50 State Quarters Silver Proof SetTM
50 State Quarters® Bags & Rolls
Wisconsin Two-Roll Set
Minnesota Two-Roll Set
Minnesota 1,000-Coin Bag (P)
Minnesota 1,000-Coin Bag (D)
Oregon 1,000-Coin Bag (D)
Colorado 100-Coin Bag (P)
Nebraska 1,000-Coin Bag (P)
Nebraska 1,000-Coin Bag (D)
Nebraska 100-Coin Bag (D)
Colorado 1,000-Coin Bag (P)
Colorado 1,000-Coin Bag (D)
North Dakota 100-Coin Bag (D)
North Dakota 1,000-Coin Bag (D)
South Dakota 100-Coin Bag (D)
Montana 1,000-Coin Bag (P)
Wyoming 100-Coin Bag (P)
Wyoming 1,000-Coin Bag (P)
Wyoming 100-Coin Bag (D)
Wyoming 1,000-Coin Bag (D)
Utah Two-Roll Set
Utah 1,000-Coin Bag (P)
Utah 1,000-Coin Bag (D)
Oklahoma Two-Roll Set
Oklahoma 100-Coin Bag (P)
Oklahoma 100-Coin Bag (D)
Oklahoma 1,000-Coin Bag (P)
Oklahoma 1,000-Coin Bag (D)
New Mexico Two-Roll Set
New Mexico 100-Coin Bag (P)
New Mexico 100-Coin Bag (D)
New Mexico 1,000-Coin Bag (P)
New Mexico 1,000-Coin Bag (D)
Arizona Two-Roll Set
Arizona 1,000-Coin Bag (P)
Arizona 100-Coin Bag (D)
Arizona 100-Coin Bag (P)
Arizona 1,000-Coin Bag (D)
Other Bags & Rolls
2001 Sacagawea Golden Dollar Roll (P)
2001 Kennedy Half-Dollar 200-Coin Bag  
2001 Kennedy Half-Dollar  Two-Roll Set
2002 Sacagawea Golden Dollar 2000-Coin Bag (P)
2002 Sacagawea Golden Dollar 2000-Coin Bag (D)
2003 Jefferson Nickel Two-Roll Set
2004 Sacagawea Golden Dollar 2000-Coin Bag  (D)
2005 Ocean in View Nickel 1,000-Coin Bag (P)
2005 Ocean in View Nickel 1,000-Coin Bag (D)
2005 Sacagawea Golden Dollar 2000-Coin Bag (P)
50 State Quarters® First Day Coin Covers
New Jersey
Georgia
Connecticut
South Carolina
New Hampshire
Virginia
New York
North Carolina
Rhode Island
Vermont
Kentucky
Tennessee
Ohio
Louisiana
Indiana
Mississippi
Illinois
Alabama
Maine
Missouri
Arkansas
Michigan
Florida
Texas
Iowa
Wisconsin
California
Minnesota
Oregon
Kansas
West Virginia
Nevada
Nebraska
Colorado
North Dakota
South Dakota
Montana
Washington
Idaho
Wyoming
Utah
Presidential $1 Coin Coin Covers
George Washington
John Adams
Thomas Jefferson
James Madison
50 State Quarters® Coin & Die Sets
North Carolina (P)
Rhode Island
Tennessee (D)
Maine (D)
Iowa (P)
Oregon (P)
Nebraska (D)
Nebraska (P)
Colorado  (P)
North Dakota (D)
North Dakota (P)
South Dakota (D)
South Dakota (P)
Montana (D)
Montana (P)
Washington (P)
Idaho (D)
Idaho (P)
Wyoming (P)
Wyoming (D)
Utah (D)
50 State Quarters® Collector’s Spoons
Iowa
West Virginia
Nevada
Nebraska
Colorado
North Dakota
South Dakota
Montana
Washington
Idaho
Wyoming
Utah
Oklahoma
New Mexico
Arizona
50 State Quarters® Greetings from America Series
1999 Card Set
1999 Portfolio
2000 Card Set
2000 Portfolio
2001 Card Set
2001 Portfolio
2002 Card Set
2002 Portfolio
2003 Card Set
2003 Portfolio
2004 Card Set
2004 Portfolio
2005 Card Set
2005 Portfolio
2006 Card Set
2006 Portfolio
2007 Card Set
2007 Portfolio
Card Set Album
Portfolio Album
Westward Journey Nickel Sets
2004 Westward Journey Nickel SeriesTM Coin Set
2006 Westward Journey Nickel SeriesTM Coin Set
Special Sets
50 State Quarters® And Euro Coin Collection
Official Coin Collecting Starter Kit
 

The new platinum numbers were released by the Mint. Drum roll please.

The one-ounce 2008 uncirculated “W” platinum American Eagle saw sales rise by 67 coins to 393. It sounds more exciting if I write that total cumulative sales rose by 20 percent.

There was an increase of 33 coins for the half-ounce size, taking the total to 802.

For the quarter ounce, the increase was smaller still, just 23 coins. The total stands at 2,138.

For the much-watched tenth ounce, the Mint actually reduced the total that has been sold by 38 coins to 2,500 even.

Interestingly, the increase in the four-coin set was the largest individual number at 138, bringing the total cumulative sales to 1,191 sets.

Adding up all of the issue prices we get sales of $415,571.95 for the week. If we subtract the backward March of the tenth ounce, the net total sales for the past week amounts to $410,443.85.

In an age of $700 billion bank bailouts, that number seems rather small.

Buyers of one-ounce American Buffalo gold bullion coins are getting another chance, according to a Mint memo. See below.

MEMORANDUM TO ALL AMERICAN BUFFALO BULLION COIN AUTHORIZED PURCHASERS
 
SUBJECT:       2008–Dated American Buffalo Bullion Coins
 
On Monday, November 3, 2008, the United States Mint will resume taking orders for 2008-dated American Buffalo One Ounce Gold Bullion Coins.
 
Final inventory for these bullion coins is based on current in-house blank supplies and supplies are limited.  The United States Mint will allocate these remaining coins among the Authorized Purchasers (AP’s).
 
The United States Mint will use a slight modification of its standard allocation process, which is as follows:
 
Monday morning, the inventory available for sale that week will be divided into two equal pools for this bullion coin product.

The first pool for this bullion coin product will be allocated equally to all active American Buffalo One Ounce Gold Bullion AP’s respectively (active AP’s are those which have purchased American Buffalo One Ounce Gold Bullion Coins in the past three fiscal years).

The second pool will be allocated based on each AP’s sales performance for this bullion coin product in the last three fiscal years (e.g., an AP who purchased 30% of all American Buffalo One Ounce Gold Bullion Coins during this time will be allocated 30% of this second pool).
 
Each AP will be advised via fax Monday morning (or if a government holiday, Tuesday morning) of its allocation, and will have until 3 p.m. on the following Friday to place an order for its allocated coins.

Any unordered coins remaining after 3 p.m. Friday will be put back into the pool for allocation the following Monday only until coin inventory for this product is depleted.
 
Included in the communication with each AP’s initial allocation on November 3 will be its allocation percentage based on sales performance.
 
Thank you for your patience and your continued support of the United States Mint Bullion Coin Program.