State-Quarter.com

Mint Moving Toward Top Tier of ‘E-Tailers’ in Only Eight Months

Washington, D.C., January 31, 2000 — The United States Mint today announced preliminary fourth quarter 1999 sales revenues from its website catalog at www.USMINT.gov. Total online sales amounted to $26.5 million for the period October 1 through December 31, 1999, an increase of 114% from third quarter 1999 online sales.

The U.S. Mint launched secure online sales at USMINT.gov in late April 1999. Online sales during the fourth quarter represented about 33% of total numismatic sales for the last quarter of 1999 (excluding wholesale bullion sales and the sales of circulating coinage to the Federal Reserve Bank).

“Fourth quarter sales, annualized, represent more than $100 million a year in online sales and place the U.S. Mint among the nation’s top e-tailers,” said Philip N. Diehl, Director of the U.S. Mint. “The combination of a blockbuster product like the 50 State Quarters and one of the best Web sites in the business has moved us into the top tier of e-tailers in only eight months.”

The Mint sells collectible coins, coin-based jewelry, and related products on its Web site. Products related to the Mint’s 50 State Quarters program have been especially popular with online consumers, and have driven single day sales past the $2 million mark during peak periods. During the fourth quarter, the Mint averaged $9.2 million in online sales a month, despite the fact that many of the Mint’s most popular products were sold out by December 1, as holiday shoppers flocked to the Web site to purchase gifts.

“Our big challenge this year will be to feed sufficient quantities of new product to our Web catalog to keep up with the strong demand we saw at the end of 1999,” Diehl said. “In early January, online sales returned with a vengeance, and we’ll be looking for partnerships with private sector suppliers to help us quickly develop high-value products to meet consumer demand. This will be crucial to continuing the explosive growth we experienced in 1999.”

As an example of the strong sales trends in recent months, the Mint cited its experience in launching the last two state quarters in the 50 State Quarters program. Online sales of the Connecticut quarter began on October 18. The Mint expected to sell 7 million Connecticut quarters over the following week, up from 1.4 million Georgia quarters only 10 weeks earlier.

All 7 million Connecticut quarters sold in four-and half-hours. The total number of catalog visits at USMINT.gov on October 18 was approximately 28,000. When the Mint launched the most recent state quarter (Massachusetts) on January 11, the Web site was hit by 20,000 simultaneous visitors the first hour. “We has 20,000 customers standing at the door when we opened the virtual store that day,” Diehl said. “Many others drove by, saw the crowd, and came back later.”

The Mint has seen Web site traffic and online sales continue to surge with the January 27 launch of the Golden Dollar, which is currently available at USMINT.gov. On March 6, the Mint will begin a $40 million nationwide television, radio, print, and Internet advertising campaign in support of the Golden Dollar. The campaign will continue for six months and is expected to generate significant traffic for the Mint’s Web site. Then, in late March, the Mint will begin online sales of the Maryland 50 State Quarter. New state quarters are issued every 10 weeks through 2008.

To keep up with demand, the Mint will be making a number of technology enhancements, including expanding the number of servers supporting its Web site. “Online traffic has doubled over the past six months, and we are expanding capacity to handle another four-fold increase in the next six months, ” said Diehl.

The Mint also released other web-related sales information. During the fourth quarter of 1999, the Mint’s average online sales transaction was almost $90. Average time to fulfill online orders was six days and about 90% of all orders were shipped within two weeks. Total website uptime (time the site was available to consumers) was 99.7% in December, well above the 95% average of major e-tailers reported by Service Metrics in the November 22, 1999, edition of InternetWeek.

The United States Mint is an agency of the U.S. Treasury Department, producing more than 20 billion circulating coins annually and selling more than $1 billion in collectible and bullion products in 1999, returning profit of $1.1 billion in 1999. The profits of the U.S. Mint are returned to the Mint’s stockholders, the nation’s taxpayers.

To visit the U.S. Mint’s online catalog, click on www.USMINT.gov.

Washington, D.C. - The U.S. Mint today announced the sellout of the 10 million Massachusetts Quarters available in bags of 100 and 1,000 coins, which went on sale January 11.

Final totals indicate sales of 38,950 P Mint mark and 38,200 D Mint mark 100-coin bags, and 1,125 P Mint mark and 1,160 D Mint mark 1,000-coin bags.

“The sellout of the 10 million Massachusetts quarters confirms how the 50 State Quarters Program has transformed not only the hobby of coin collecting but also the way the Mint is doing business,” said Mint Director Philip N. Diehl.

“Our total sales of more than $26.5 million on our Web site during the fourth quarter of 1999 were driven in large part by sales of the bags of Georgia and Connecticut State quarters. And it’s only through the development of our Web site that the Mint has been able to sell and ship the high volume of coin bags efficiently and cost effectively.”

Online sales of the Connecticut quarter began on October 18, with 7 million Connecticut available, up from 1.4 million Georgia quarters only 10 weeks earlier. All 7 million Connecticut quarters sold in four-and half-hours.

“We were very focused on making enough Massachusetts quarters available so that if potential customers didn’t get to the Web site right away, they would still have a chance to purchase the coins,” said Diehl.

Online sales of bags of the next coin in the 50 State Quarters Program, honoring Maryland, begin in late March.

Customers may currently order the Golden Dollar in bags and in rolls via the U.S. Mint secure web server at www.USMINT.gov. There are no limits placed on the orders, but depending on order volumes, delivery may be delayed as much as six to eight weeks. Customers who prefer to fax their orders may download an order form from the web site and fax it to (301) 344-4150, and customers also may order by telephone by calling 1-800-USA-MINT. (Telephone and fax orders incur an additional shipping and handling fee of $3.95 per order.) However, golden dollar coins are expected to continue to sell quickly so customers are encouraged to order online at www.USMINT.gov.

10 Million Massachusetts Quarters on Sale

Free Shipping & Handling for Orders on the U.S. Mint Website

Washington, D.C. -The U.S. Mint today announced that the new Massachusetts Quarter under the 50 State Quarters Program is now available in bags of 100 and 1,000 coins.

“We expect demand for the new quarter honoring Massachusetts to be as strong as it was for the Connecticut quarter last October when we sold 7 million quarters in less than five hours,” said U.S. Mint Director Philip N. Diehl. “Therefore, were increasing the number of Massachusetts quarters to 10 million, but we expect these will sell out quickly as well.”

The same coins that are shipped to the Federal Reserve for distribution in commerce will be shipped directly to customers in 100-coin bags for $35.50 and in 1,000-coin bags for $300.00. These Mint-sewn bags feature coins struck on the main production floors in Philadelphia and Denver, and each bag is marked with the Mint of origin and the dollar value of its contents ($25 or $250).

Customers may order the Massachusetts quarters in bags directly online via the U.S. Mint secure web server at www.USMINT.gov and pay no additional shipping and handling charges.

Customers who prefer to fax their orders may download an order form at the website and fax it to (301) 344-4150, and customers also may order by telephone by calling 1-800-USA-MINT. (Telephone and fax orders incur a shipping and handling fee of $3.95 per order.) However, Massachusetts quarters are expected to sell out quickly so customers are encouraged to order directly online at www.USMINT.gov.

Massachusetts State Quarter Design Features Revolutionary War Minuteman

BOSTON – Massachusetts Governor Paul Cellucci and Lt. Governor Jane Swift were joined today by U.S. Mint Director Philip N. Diehl as they “virtually struck” a Massachusetts state quarter at Boston’s historic Faneuil Hall, known as the “cradle of liberty” — miles from the Philadelphia Mint where actual production of the quarter honoring the Bay State is already underway.

The first Massachusetts quarters were shipped to the Federal Reserve on January 3 and should begin appearing in pocket change over the winter and spring of this year. More than one billion Massachusetts quarters will be produced to keep pace with public demand for the 50 State Quarters.

The winning Minuteman design concept for the Massachusetts quarter was submitted by Xander Kotsatos, a seventh grader at Belmont Day School, and Kathleen Raughtigan, a sixth grader at St. Bernard’s Elementary School. Also present were the Sons and Daughters of the American Revolution, and a 20-piece Minuteman Fife and Drum Corp.

The U.S. Mint is excited to take the 50 State Quarters into the 21st century with the Massachusetts quarter, which pays tribute to a crucial force in the American victory in the war of Independence,” says Diehl. “The young students who submitted The Minuteman design for the Massachusetts quarter show the pride and interest in the history of their country, which is truly the heart of this program.”

The reverse, or “tails,” of the Massachusetts state quarter, executed by U.S. Mint Sculptor/Engraver Thomas D. Rogers, Sr. features The Minuteman in front of the state outline, a star marking the state capital of Boston, and the words “The Bay State.” The famous statue of The Minuteman stands at The Minuteman National Historical Park in Concord, Massachusetts.

“Massachusetts is rich with American history and this new quarter will remind citizens of our state and across the country of Massachusetts’ place in the American Revolution and our nation’s long tradition of protecting freedom and liberty,” said Governor Paul Cellucci. “The Massachusetts quarter is a celebration not only of our state’s history, but also of the birth of our nation.”

History tells us that the Minutemen were signaled of the British troops plan to travel by water on April 18, 1775, when two lanterns were placed in the steeple of the Old North Church in Boston. Captain Parker, the commander of the Minutemen, ordered his troops to, “Stand your ground. Don’t fire unless fired upon. But, if they need to have a war, let it begin here.”

When the British troops reached Lexington, shooting broke out against the 50 Minutemen on the common, an open square in the center of the town. The British went on toward Concord, where they again met the Minutemen at the Old North Bridge over the Concord River and fired upon them. The Americans fired back, and the war had begun.

Legislation signed by the President in late 1997 authorized the Mint to honor the 50 states in the order they entered the Union or ratified the Constitution by producing five quarters each year from 1999 through 2008 with reverse designs celebrating the heritage of each state. The design process for each quarter is determined within each state by the Governor before design concepts are sent to the Mint, and then returned to the states for final selection. Approval of the final design rests with the Treasury Secretary. The well-known “Eagle” reverse quarter is scheduled to resume in 2009.

Governor Cellucci chose to launch a contest in February 1998 among all Massachusetts elementary school students, asking them to submit their design ideas for the new commemorative coin and providing them with a unique and fun way to participate in this historic event. Massachusetts is the only state in the nation to hold a contest for elementary school students to design the special quarter and the response was overwhelming. More than 100 entries were submitted to the governor’s office by public, private and parochial schools from across the state. Cellucci created a 10-member advisory panel to narrow down the field of entries to five. Governor Cellucci and Lt. Governor Swift announced the Minuteman design in June 1999.

“The two students who submitted the Massachusetts Minuteman design should be proud of their hard work and creativity, which will grace the new Massachusetts quarter,” said Swift. “This contest was an exciting way for all of our elementary school students to play a role in selecting our state’s coin and an unique opportunity to learn about our state’s distinguished history.”

The 50 State Quarters are manufactured at both the Philadelphia and Denver Mints, which produce all legal tender U.S. circulating coins, before being shipped to the Federal Reserve for distribution through the banking system. The Federal Reserve orders new quarters to ensure an adequate supply to meet the needs of commerce as commercial banks demand.

For more information on the 50 State Quarters and how to collect them, visit the Mint’s web site at www.usmint.gov.