Can the mint stop coin dealers fom sucking up the new releases?

Actually, the simplest solution, from a manufacturing standpoint, would be to accept orders for a period of time. The cut off the ordering process and manufacture what was ordered.

Kinda like the way it used to be done before the "Instant Gratification" of the Internet........

Or, they could get tired of all the baloney and stop making collector coins altogether with the exception of the Eagles which are mandated by Law. By that, I mean no more Proof Sets, no more Mint Sets, no more Proof Eagles or "W" Eagles, no more special coins other than the Congressionally mandated Commemoratives.

They'd still make money the old fashioned way by selling it to the Federal Reserve Bank and they'd still show a profit.

Again, kinda like the old days.

 

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I came kinda close seeing as I didn't live through the 'old days' being 28 and all.

 

I also think minting to demand would still provide 'quick' gratification

Logistically it would be a little more difficult since they would be changing if dies all tebtime

 

Aww! If you're feeling guilty about something, maybe you should treat your wife to a real nice dinner on the town right away.

Chris

 

The people who purchased more than the minimum will rationalize the results all they want until they have the misfortune of being one of the people who didn't get any. Then, let's see how they feel? Yeah, sure! They'll say it's okay. Bull!

If the Mint is going to produce a special set, commemorative or whatever, they should make it for the entire year. Period!

Chris

 

I'm just happy I didn't want this, but I'll most likely get the Ike

 

With competing interests, of course, there is no simple solution that pleases all. The mint is in it for the profit and would like to sell as many as possible - many collectors and dealers are in it for the profit as well, but would like to acquire as many low mintage coins as possible. Unlimited mintages for a short period of time produce higher mintages, so collectors and dealers don't realize immediate profits, so they may lose interest over time, hurting sales. There is a "sweet spot" mintage that produces a profitable coin, as well as allows most to acquire some, as well as piques collector/dealer interest producing large sales for the mint. As shown by the Truman Set, the mint is capable of missing the mark with a flawed analysis, yet could have rectified the error, but compounded the problem by doing nothing. And, more to the OP's point, the mint will never be able to force buyers to adhere to household limits.

So, what's an equitable solution for all? The mint must first attempt to come up with that "sweet spot" mintage. With its sales data and surveys, it wouldn't be hard to do, if its sales staff were competent, which is a big if, considering the way they dropped the ball with several recent issues. I'd say they have "suits" up there who know nothing about coins.

Second, the mint needs to initially rollout limited issues with lower household limits. Sure, buyers will get around those limits, but it's much tougher to impossible to hoard as many with lower limits.

Third, if the mint blows the rollout, like they did with the Truman Set, they need to exercise the rights they reserve. They do not reserve the right to increase the mintage after it is published (I don't believe), but they do reserve the right to adjust household limits after orders are placed.

 

I like this analysis and solution. My only heartburn with the process is hearing small collectors here on CT getting skunked because large dealers sucked up all of the issue. Its not for me personally, only for collectors who wish to collect and not get held up by private companies.

 

How about when the Eisenhower set comes out on Aug. 11, just make it a plain proof ike presidential dollar with no reverse proof? Don't release that info, and some folks gonna be sittin' on a bunch of brass dollars! Now who likes Ike?

While he was alive, my Dad, God rest his soul, would never allow himself to become computer savvy. He came from the era when you would mail your order to the mint, then later when you'd phone the order. Last years of his life, I would order on my computer for him. I wonder how many other old timers are still stymied by the computer ordering and have to obtain the coins from dealers.

 

There were household limits back in the old days friend. The most you could order per US Mint "Customer Number", was 5 proof of Mint Sets yet, there were big dealers which managed to order them in boxes of 100. I never could figure that one out.

At one time, I had TWO Customer Order Numbers which I thought was the bomb!

The way it worked was you had to pay attention for some type of notification. When you placed your order, you also submitted a check or Money Order for the full price of the order.

Then you waited until shipping began.

It could be 30 days or 6 months but you had to wait.

 

When the Native American Dollar Set was released In like many others, was oblivious to the fact that it had the Enhanced Uncirculated Coin instead of the standard Brilliant Uncirculated Finish coin. As a result, I actually missed missed it.
But when they came up for sale again, I was sure to be there and ended up with 10 which I subsequently sold.

The point being, if you want it bad enough, you'll make arrangements to get it.
Its the folks that have the excuses that piss me off because they don't try and then whine because they couldn't get in on the fun. Then they want to change everything around so that "everybody that wants one, gets one".

News FLASH: If everybody that wanted one had one then there wouldn't really be an aftermarket. Just look at the US Mint Sets which have ended up losing money for their buyers each and every year since 1970.

 

Over the years, there have been a lot of people who missed out on special issues just because the releases began around noon time and they were at work. Yeah, it's fortunate that some people can find time to place their order, but others don't always have the luxury.

Chris

 

That doesn't matter Chris, because evidently its "you snooze you lose", and most people here are happy to pay free money to MCM, Silvertowne, and others who work really hard to make sure a small time collector will never get any possibility of profiting from his hobby. "Sheep to be fleeced" should be the new motto of the US mint and their aftermarket "buddies" I suppose.

 

Now, that's a great idea! Why don't you submit this motto to the Director of the Mint and be sure to let me know what sort of response you get.

Chris

 

The age we live in. We fret if we cannot have what we want, even when we know that we have been manipulated by the machine to want it. I cannot image paying significantly over the odds for a comm mint coin that I couldn't buy direct or at least for a reasonable price.

I know others have far more money available to buy these things but wonder if the significance of a mass produced, highly inflated item still has the same appeal?

Dealers have to make money and maybe if the market was able to easily satisfy demand properly then mark ups would be less. I'd hate to have to pay others to buy extras and carry what is probably quite a risk.

If I want it, have the money and have the opportunity to purchase, then I would. Sooner or later the opportunity is likely to arise again though.

 

Why does there have to be a large aftermarket? Thats why I would like a mint to order proposal so that there wouldnt be an aftermarket and it would eventually deter the dealers from hogging all the action. PLUS every collector who wanted one would pretty much be able to get one if there wasnt a mintage limit but rather a time limit. That seemed to work out ok for the Kennedy set, and look no stupid after market inflation frenzy to speak of. They can even have an initial order amount and then just make as many as the collectors deem after that for 60 days or whatever. It would at least take the power away from the big corporations that are perverting our government every which way we turn.

 

Yet, many/most do. Let's see, when issued, a 1916-d dime was $0.10, today most/many would pay close to $1,000 for an ugly example. Or if you want a modern example, the 1995-w proof ASE, with a mintage of around 32k, was free, today it's thousands.

 

But thats not a common issue, and even the mint price was only face value. He was saying he cant understand paying a premium on the secondary market for newly released items, especially when you could obtain it from the mint for at least the issue price by putting forth a little effort.

A key date to a very popular series is like comparing apples to Ferraris. They arent anywhere close to being similar examples.

 

The 1916-d is a much more common issue than many of the modern special issues, it is simply older. I also sighted a modern issue, the 1995-w proof ASE that was free, now it's thousands. The point being many are willing to pay huge premiums over issue price for coins that are true rarities and are not common, as suggested.

These modern special issues are the key dates for modern series and will be more scarce than many older key dates, so this is comparing apples to apples.

If you missed buying from the mint, right now, while they're new and many are on the market, is the best time to buy at a modest markup over issue price, compared to what their potential value is.

 

".........profiting from his hobby."

If anything at all, the profiting is small time. Nickels which at the very maximum allow a collector to acquire 1 of 5 at no cost.

But then..........it's not supposed to be about the "profits" unless you are a coin dealer supporting your family.

Sorry, but the so called profits from this particular release aren't really profits which could ever be enjoyed long term since it's a modern coin, it's always going to be available, and folks will lose interest soon enough.

I'd love to say that I've "profited" from my collecting abilities but the reality is that its very difficult to constantly turn a profit. Especially with US Mint issues. I came close to fooling myself into believing I knew what I was doing but my desk and cabinets are strewn with proof that nothing could be further from the truth.

As such, I'm just small potatoes in a boiling vat of stew called "The Coin Collecting Hobby" and once you exchange the word "hobby" with the word "profits", then the dealer tendencies in all of us becomes apparent since it then is no longer a hobby. Its a source of income. If folks want to use the guise of coin collecting as a source of income then they need to be available at Noon Eastern Time because the folks that really turn the profits aren't going to hold the door waiting for them to waltz in.

The writing was clearly on the wall. 17,000 Sets. 5 per Household Limit. On sale at Noon.

Anybody the really wanted one of these sets could have ordered one.