Should the US Mint follow the USPS lead???

The USPS has reissued a 2013 $2 version of the 1918 24 cent upside down Jenny stamp. All of the 2013 $2 stamps are upside down, except for 100 six stamp sheets, which are right side up, and inserted randomly in the six stamp sheet packaging. The current offer for a right side up sheet is $15,000, which may be too low. Should the US Mint follow the USPS lead by randomly inserting major rarities in its sets?

 

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It would be interesting at that point, I'm sure all of the big dealers would some how end up randomly get them.

 

I read the same article in Coin Update by Steve Roach and agree with his thinking. No, don't encourage it. If you want to destroy a market or hobby, this would be a good way to do it. Might as well produce all the major rarity's over again at the mint. We could all have a real 1804 gold piece just above cost. Then we could send in requests to the mint and BEP asking for the type of error or currency we want. Sort of a "special order" feature found in the manufacturing business. Look at all the time we could save looking through our pocket change and dealers inventory. Just have your whole collection made to order. I guess our government is starting to think like the Chinese about reproductions.

 

I’m a little torn in both directions. I’d love to win the “coin lottery” by finding one of those super rarities. Yet, the way the mint prices its items, it could cost me a fortune trying to find one. At least the USPS promotion is priced at face value of the stamps, so you can use the postage if you’re not a winner, with no loss. As a matter of fact, I’ve only dabbled with stamps, but have bought enough of these Jenny’s to cover my postage for the next year, as well as stocking stuffers for the holidays. Have only opened one so far and no winner.

 

No, I don't think they should. However, I think they already have.

How many times can you forget to put a mint mark on a proof coin?

 

Very true! I know they've been accused of intentionally salting rarities in their sets. Looks like the USPS set a precedent for it's ok to do so. Stamps are certainly getting a lot of attention from this Jenny promotion.

 

How about a current date Carson City (CC) Morgan Dollar or a 1964-d Peace Dollar with a mintage of 100, made exactly like the old ones, and randomly inserted in place of the current year BU commemorative dollar? Or a 2009 proof ASE inserted in place of the current year proof ASE?

 

Wouldn't these coins just basically be "counterfeits" made by the mint?

 

What's the point of any of it? Does the mint, or the USPS benefit financially from rarities sold on the secondary market? Is the PR enough for them? Sales tax is collected by the state, so why would the Federal Government bother creating rarities? Where's the revenue?

 

Interesting take, but I don’t think, by definition, the mint can make a counterfeit.

 

Increased sales of the product containing the "Golden Ticket".

 

Ah yes, of course. Thanks.

 

See? I knew someone was was heading in the Wonka direction.

The idea seems cheesy to me. We've already got the TPG's creating so called rarities out of coins that are minted in the billions. Leave things the way they are........

 

Hey, it worked for Willy Wonka chocolate bars and it looks like it's working for the USPS. Kind of a nice lottery type bonus for a few lucky faithful that order mint products year after year. And, can you imagine the boom it may be to the hobby if the general public plays the lottery?

 

I admit it's tempting, but what is the state of stamp collecting? Last I heard it was on the skids. I think coin collecting as a hobby is very healthy. Besides, if they (mint) want to create rarities just lower the mintage on certain offerings. The did it with the ASE 25th anniversary set in 2011. Remember the crying and gnashing of teeth by collectors who couldn't get one?

 

Yep, the USPS was desperate and may have found the golden goose.

Yeah, a little different than not being able to order a limited product because it sold out in 5 hours. All could order as many as they like, the more the better for the mint and the public. And, it may solve the mint's problem with returns, as none could be returned if opened and no "Golden Ticket".

 

One thing is certain, now that “The cat is out of the bag”, if it goes well for the USPS, the mint will probably follow suit.

Just fantasying here, since the 1913 V Nickel’s existence is questionable at best, let’s throw a 100 of them in mint sets

 

Can't do that without legislation. All coins have to have the current year of minting on them, and all five cent pieces have to have Monticello on them

 

True, but then, these days congress is pretty much just a "rubber stamp" for the mint, if means making a profit.