1794 Dollar US Mint Medal

I don't usually chase US mint issues but this one intrigues me a bit. One ounce of silver for $104.00 and is supposed to be available October 15. Is this one of those deals where you have to hope your internet connection is good enough to get through when they are released?... Anyone else going to chase this one?

 

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I'll give it a shot.

 

My Internet connection can barely get a weather report. "I think I can, I think can...."

It looks pretty nice though.

 

Me too. The danged thing will probably be down to $50 (after market) within a year but I'll hazard a go at one on game day........

 

I have this, so I am going to pass.



Have you heard? There is going to be a lottery connected with this piece. A small number are going to have a "privy mark" added to the obverse. They will be randomly shipped amoung the orders.

Another issue with this piece is that it is a medal, not a coin. Here in Florida, when a dealer sells it, he or she will have to charge sales tax unless the invoice is for $500 or more.

 

Double lottery:

• 1,794 of the medals will feature a “230” privy mark
• 230 of the privy marked medals will include a certificate of authenticity signed by United States Mint Director, Ventris C. Gibson

Also, why no lettered edge? I guess that would give it a denomination and make it a coin.

 

OK, I'm going to violate one of my basic tenets and expose my ignorance while questioning something I know nothing about...

Are they asking for $104 for 1 ounce of silver bullion?

Is that what is happening here???

There you go, I'm out there...

 

Well, it's a medal, not bullion. Think of it this way: it's a lower markup over melt than they put on the bronze medals.

 

Oh boy! A signature from the Mint Director. Will we have to get that certified too?

As for the edge, it's probably something to do with needing an Act of Congress to give it the "ONE HUNDRED CENTS ONE DOLLAR OR UNIT" treatment. That would have made it into a coin.

 

Aaand there's the fuel for eBay "UNOPENED BOX!!!" flippers.

Edit: wish I still worked at the place with all the imaging gear. It'd be interesting to see whether it could pick up the privy mark or extra paper through the Mint packaging.

 

It’s overpriced silver to me. I can buy 4 common date Morgan’s for $104.00 and I probably will. I have an urge to spend my money at the present time.

 

Well, perhaps, if it's being marketed as a medal (I'm not interested enough to look it up); but if they accentuate the "1 ounce silver", then it's bullion to me, so then bars or even ASE's are a better value. And as a "medal", I don't find this nearly as attractive as others.

OK, enough of my ignorance! (I'm still not getting one.)

 

At more than $100 an ounce, it's "bullion," at least not yet.

 

Definitely not worth the price. That is why the mint is putting the privy mark on some. It is like buying a lottery ticket to win one with a privy mark!

 

For $104, at least you'd think that it was proof, but it's unc.

 

Randy, I have thought about this since I first responded and the more I think about it the more I think you should seriously reconsider purchasing this item. It is extremely expensive for a 1 ounce piece of silver. The Mint’s prices have gotten so they have lost a lot of customers. And now they’re reducing items that they can’t sell because of the cost. I’m a little older than you but I know I would never recover the cost of this item in my lifetime.

 

Oh heck, Dave..... I won't recover the cost of 75% of my coin collection. And I sure won't ever recover the cost of my wife's shoe collection.... But what fun will I be robbed of if I don't have an excuse to make my wife accept a fourth safe in the house?

 

Limit of one. Dealers paying a premium to those that order for them? I wonder how many people will return them when they find that theirs is not privy marked?

 

If you get a fourth safe in the house I may be hearing of a murder in Charleston. Lol

 

https://catalog.usmint.gov/230th-anniversary-flowing-hair-silver-medal-24YH.html
^here you go - I did the work for you. Marketed as a medal.