Did the U.S. Mint shoot itself in the foot, AGAIN? From the Mint’s recent sales reports, it’s become apparent the Mint is over producing certain rolls of coins that were supposed to be sold only to collectors and not released for circulation. However, the mint is silent as to what their plans are for the coins produced, but not sold. Will they someday release them into circulation? I for one, will buy fewer of these rolls, as the threat of increased supply, at face value, puts future value at risk.
The Mint does not have to tell anyone (need to know) what their future plans will be. Do you expect your sister to tell you what she plans to do with the jewelry she bought but has never worn? If your thoughts were to buy these for future gains, you need only to look at the Westward Journey nickel rolls to realize that the cost of purchase from the Mint is greater than their resale value. Therefore, the investment return is more like slim & none. Chris
You’re joking, right? The mint has set a pattern, if not stated in the past, that certain coins will be available only by ordering them from the mint and not issued for circulation. If they’re going to promote the rolls that way, the excess should be melted. Comparing the rolls I’m talking about to Westward Journey Nickels is comparing apples to oranges. The Westward Journey Nickels were issued for circulation, so hundreds of millions were made. The rolls I’m talking about are not supposed to be made for circulation, so only one to two million are made.
This scenario existed with the 2001 Kennedy Collector Rolls. The US Mint produced a quantity and at the end of 2001, the product went dark. Later in 2001 they offered the rolls up again which ultimately cost me a lot of money on the open market. (Meaning I bid and paid a lot of money for a US Mint Product which had been "Sold Out" which later came back to life. It's kinda sleazy but it's a business and they are free to do whatever they want with "circulation quality" rolled coin products. This means that maybe they will? And maybe they won't.
So, am I expected to read your mind? You didn't specify any denomination in your original post. Let's see! It could be SQ rolls. No! Maybe it was half dollar rolls or Prez rolls or Sac rolls. So, which is it? Chris
Then, the 2001 Kennedy was re-released in 2004 as rolls and $100 Mixed P&D bags. Congress tells the Mint what coins they must produce, but it doesn't tell them when and under what conditions they must release them. Chris
No! I won't bother. If you don't want to take the time to express yourself clearly in your original post or to clarify yourself at the request of a reader (me), then I'm not going to waste my time. Chris
Something similar happened with the W.H. Harrison mint wrapped rolls a few years ago. The mint stopped offering them early. Then, they went back on sale for a short period and again the offering was closed. They were selling on ebay for stupid money back in '09 and still fetch a fat premium today......... http://www.cointalk.com/threads/william-henry-harrison-mint-roll-price-ouch.52418/
Yet, the 2009 District of Columbia Duke Ellington Territory Quarter which has a very nice Doubled Die sells for next to nothing!
The 2001 halves were struck as circulation coins and for mint sets. Some of the circulation coins were sent to the Fed for distribution but most were held by the mint for future distribution which never happened. The Mint did NOT sell rolls of half dollars in 2001. They started that in 2002 but the 2001's were not put on sale until 2004. Until then the only way to get 2001's were from the relatively small number that were released or from mint sets. When they started selling rolls and bags in 2004 the prices did collapse.
Just don't like repeating. I guess, if you were into these rolls, you'd know what I'm referring to. I believe the only rolls available from the mint and not available in circulation are AtB S-Mints, Kennedy Halves, President Dollars and NA Dollars. I've been following the mintages of the Kennedy Halves & NA Dollars, which are higher than the actual sales. I haven't checked the President Dollars and the AtB S-mints appear to be accurate, yet, their mintages are not listed separate from their sales, so no way to check.
I think the problem lies in the fact that the term "Not Intended For Circulation" (NIFC) is incorrectly used and even misunderstood when it comes to all of the denominations you've mentioned. Congress mandates that a certain MINIMUM of these circulation-quality coins must be struck each year, but the decision to release them into circulation is left to the discretion of the Treasury Department and/or the US Mint. To add to the confusion is the fact that these coins do not necessarily have to be released in the year they were produced. A perfect example of this is the 2001 P&D Kennedy's that were released in bags and rolls in 2004. Once the US Mint has met the minimum requirements set forth by Congress, they can choose at any time to halt, delay or storehouse production as they see fit. To be honest with you, they really aren't much different than Coin Vault, and will do whatever it takes to sell their products at the most opportune time. Chris
Sounds about right. Back to my point, the mint is shooting itself in the foot with this policy, by diluting the collectability/value of these rolls, by leaving their future availability uncertain. The "modern" mint is in the business of selling collectables, but can't seem to understand how to market its products to its customers.
No they don't. The closest they have to a mandated minimum is the requirement that the NA dollar equal 20% of the mintage of the President dollars for the year, and that they have to strike the President dollars. But there is no minimum number of President dollars required.
