For those who are interested. From Coin World: https://www.coinworld.com/news/us-coins/2019/06/legislation-calls-for-coins-gold-medals.all.html
We have already had a commemorative coin with surcharges going to the Law Enforcement Memorial Fund. Not that I am disagreeing with the sentiment, but if one organization can make a second trip to the trough, what's to stop all the others from wanting a second chance to dip into collectors pockets?
It seems that all our congress can do it promote trinkets and name post offices. I am still waiting for them to do some real stuff that is good for we the people.
We now have more than enough commemorative coins. Sometimes we don't get the commemorative coins that should have been authorized, like a piece for the 75th anniversary of D-Day. Instead we got the American Legion coins. I passed on them.
I've been collecting for more than 70 years. I now pass on everything the US Mint makes. The USPS is in the business of making wallpaper with all their new stamps and, I say, the US Mint is making ballast.
It seems to me there is two ways to look at this. The first is, that the mint does not profit from the trading of previously issued coins and they are trying to get in on the collecting market. They have created a new market, modern coins, and it's apparently a hot trend with some dealers gobbling up the offerings, sending them straight to the TPG services and getting huge markups on coins that are of course authentic and of high grade. It's creating sort of a trend market, with high appreciation being realized immediately, then after the rush wears off, coins trending down to more realistic prices. The flip side to that is, that it takes those dollars out of what has been the "traditional" coin market, that is, older series commonly associated with the hobby. That may create opportunities for collectors preferring older coins to acquire them at more favorable prices. So the modern trend seems to my eyes: Produce as many different "limited issue" not meant for circulation coins as possible, package them differently, and in some cases restrict the mintage to further stimulate demand. Second, the TPG's are now placing designations on the holders "from the congratulations set" type things, to distinguish between coins that otherwise are identical to the other coins being produced. The other trend is buying the plastic as much as the coin. When a graded 2019 W Lincoln in the "blue memorial holder" goes for five times what the entire mint set sold for, people are buying plastic.
I like some of the designs of the newer stuff, but not enough to pay the premiums they are asking. I'm fine with waiting a few years for them to drift closer to spot in the aftermarket.
Amen @Murphy45p The mint makes all the coins at one time and then sends them out in batches that the TPG's can declare 1st this and 1st that and the suckers just gravitate to them. The coins in the plastic are no better than any of the others. In fact, given the stocking methods, the last out are probably the first in and have qualities the FIRST don't have. You are absolutely right about the longevity of the premiums for those in special plastic.
Yes, one of the dumbest buys, in my opinion, are these "first release" slabs which are nothing but marketing. In the old days, early die states often produced the best coins, but today all of the Proof coins are pretty much the same with cameo features. No one has any idea as to which coins were struck first, but TPGs receive unopened packages with certain postmarks and make them into more than they really are ... at premium prices.
The mintage levels indicated for the National Law Enforcement Museum coin bill are way too high. The collector base for new commemoratives has contracted greatly and, as proposed, would never sell out if signed into law.
I'm on the mint mailing list. So I receive first day issue coins, flawless to my non-professional grader eyes, but at deep discounts to what coins with that designation seem to bring.
No, but the postmark on the box is the day the mint says they are to be released per their schedule. Now yes, I open the box, which probably nullifies first day if I tried to sell the coins, but for me, I know my coins were shipped on the first day.
At this point, I'm just a collector. My kids will probably have to deal with disposing of my collection one of these days, but I'm in it for the love of the coins not for the money. That said, one of these days I'll load up some of my "extras", and take them to a show and reduce the size of my collection. Most of that is about melt value I'd say. Now in a few years, I plan on converting some of my retirement portfolio into high grade gold coins. For those, I suspect I'll prefer the ones in plastic and those will be liquidated at some point. Those will be investment. It will be enough for me to be able to look at them for a few years until the funds are needed, but I suspect I'll always keep some of my old silver. It's like a lot of those have specific stories around them, given to me by my grandmother, or when I acquired them wherever.
Of course, those are politically non-controversial. Anything else and some voting bloc will be mad at you. For most of them their main job isn't improving things, it's trying to stay there. The 1997 Law Enforcement dollar had an authorization of 500K, and sales of 138K. Not sure if the new one could get sales that high.
