Promotion of Mint State Roman Numeral Dated Coins, Among Lowest Set Populations in American Coinage, Doesn’t Last Long
AUSTIN, Texas--(BUSINESS WIRE)--U.S. Money Reserve, one of the nation’s largest distributors of U.S. government-issued gold, silver and platinum products, recently sold out of its sets of Roman Numeral mint state, gold coins in record time. Availability began on May 14 and the entire inventory—a supply that took close to eight months to acquire—had been sold by May 31.
“The rarity of these coins, combined with their historical significance, made demand especially high for this unique offering,” said Mark Fertitta, secretary for U.S. Money Reserve. The set was comprised of mint state Roman Numeral Gold American Eagle coins in $5, $10, $25 and $50 denominations.
In the 219-year history of the U.S. Mint, coins dated with Roman numerals were produced for only seven years. Numismatic enthusiasts refer to this period as “The Secret Seven Years.” Because of their rarity, Roman Numeral Gold American Eagles are highly sought by collectors. A 1907 U.S. Mint Roman Numeral American Eagle (MCMVII) frequently sells at auction for $575,000. The U.S. Mint also struck coins with Roman numeral dates from 1986-1991 (MCMLXXXVI-MXMXCI).
The U.S. Money Reserve promotion included coins exclusively from 1986-1991. U.S. Money Reserve also acquired a limited number of sets that featured a date run of coins minted in sequential years. This date run—from 1986-1991—is one of the lowest populated sets of Gold American Eagles, with fewer than 500 possible sets in existence. All coins in the offering were mint state 69 grade as graded by the Professional Coin Grading Service (PCGS), an independent grading firm. Coins are graded on a scale of 1-70; a grade of 70 indicates flawless museum quality.
Fertitta noted that most of U.S. Money Reserve’s promotions sell out in three to four weeks, making this two-week selloff of the sets notable for the company but, “because of the value and unique history of the product, not at all surprising.”