The U.S. Mint sold out of a limited edition run of 50,000 gold coins commemorating the Baseball Hall of Fame only four days after the issue was released.
Although the coins were marked with the denomination of $5, they were actually listed for sale at $424.75 each, due to their gold content and collectible value.
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, suggesting the curve of a baseball. These coins are the first curved coins issued in the history of the U.S. Mint.
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.