American Eagle 2019 One Ounce Silver Enhanced Reverse Proof Coin

I just cant listen to him talk for more than 1 or 2 minutes.

 

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Wow...I feel like Im back in math classes!!

 

He's slicker than a used car salesman, at times...ok most of the time.

 

OVERALLOTTMENT: In the equity (stock) market, when a hot IPO comes out the underwriter has the option of selling additional shares (usually up to 15%) and/or letting insiders sell out if the deal is oversubscribed.

In the future, I would like the U.S. Mint to do the same thing. Say that initial production is "expected" to be 30,000....then if you have a fiasco and price gouging like you do with the 2019-S REP, every day announce another 500 or 1,000 coins for sale.

Not knowing when the flood will stop, it will freeze the gougers and speculators in their tracks.

 

Let's see the legislative definitions for "fiasco" and "gouging" first.

Do you really want the Mint to set policy based on what people are getting (or, worse yet, asking) on eBay? On HSN?

If you want to say "when an issue sells out, we'll mint more", you've simply removed the mintage cap. We see the result of that every year, with nearly every novelty issue the Mint produces. People roll their eyes at the Mint's gimmickry, diehard completists buy another page for their albums, and long-term prices fall to less than the Mint's issue price -- which again leads to complaints against the Mint.

 

Fixed it.

It's real simple.

 

Wasn't there a mint issue (sometime in the last 20 years?) where they had like a two month window where anyone and everyone could order as many as they wanted and then the mint made that many. End of story.

 

I get your points, my rationale is IF The Mint wants to keep speculators off-kilter, the way to do that is keep the ultimate production limit nebulous.

Again, I don't think the Mint would do this because I believe they clearly WANT the chaos and angry talk -- it spurs debate and publicity for them.

I would think their marketing people would want to say something about having a hot issue like the 2019-S being way undersold and underpriced (relative to the market), while getting caught with excess inventory on lots of other junk.

Not a very good business plan !!

 

Seems there is jealousy going there... every day announce another 500 or 1,000 coins for sale. your changing the goal post every time you up the sale.. If you don't like it...………. guess you don't have to participate...

 

Never thought about it. Funny but true.

 

That's what I am going to do.. I am going to sell it and make money so I can become a slime ball and a gouger always wanted to know what that felt like..

 

Sorry for being so hard on you. Bad hair day. You have great luck. Roll with it. Once again so sorry. Cheech

 

Yeah baby

 

What I don't like -- and what I think most CT'ers don't like -- is speculators and gougers like these coin frauds on TV gaming the system.

If only actual coin collectors got the 2019-S, I could care less. And for myself, I really don't care about losing out on 1 stupid hot coin.....any money I "lost" by not getting the coin (and I wouldn't be a seller anyway had my order gone through)....I can make up for in 1 hour on any given day in the financial markets.

It's the principle. I feel bad for legit ASE collectors and young kids who will get discouraged and lose interest.

 

I went into this thinking there was no way in hell I was gonna get one. It was literally an adrenalin rush when 12 noon struck! It was a like 20-30 minute ultimate high; and I was a lucky one. All I wanted was one; to keep for myself and be able to show it off to friends, and hopefully my Boy Scout future coin collectors. It'll make a great part of my program at summer camp next year!

 

This release is a poster child for why dealers are not needed for modern Mint releases direct to the public. There I said it. The elephant in the room, so to speak. The hobby is not going under, it is just that the dealer side of things is going down hill. There will always be a need for dealers, but with the internet the whole coin community is connected like never before. This mint release was a bone thrown to the dealer community by the mint.

 

Exactly. They want EXCITEMENT -- in fact, plenty of people here have posted about how boring the Mint's releases are lately. This one certainly wasn't boring. (Although we can argue about how exciting the product itself is...)

 

Excitement fueled by dealers who knew they we going to make a killing. Kind of like a shark feeding frenzy really, trying to get a morsel...

 

It's no coincidence the Mint did this right before the holiday season. ~10-20k people going to family gatherings with a story about a ~$1k windfall from the mint can only be good for business.

 

That's why additional production would be so great...all those sleezy speculators with hundreds (thousands ?) of coins would be crapping their pants today if they knew every day or every week another 1,000 or 2,000 or even 5,000 coins were coming out.

If all the coins went to legit buyers I would have no problem. It's fattening the coffers of sleazy dealers that tees me off.

Maybe the state AG's and consumer anti-fraud folks should look into this.