Buy directly from the u.s. mint only

Buy directly from the u.s. mint only. do you agree?. yes or no. tell us your reason/s.......

 

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1. you can have first hand directly.
2. able to get first strike at original cost.
3. all coins just came out fresh from the mint.
4. easy to buy by using phone, mail or on line.
5. came with clean and new boxes, c.o.a., sleeves and covers.
6. customer service 24 hour services.
7. easy and fast returning option.
8. can make a fortune from the mint.
9. and many more i think. thanks to u.s. mint.

 

I love buying directly from the U.S. mint, but cannot keep it exclusive. I still have barber halves to complete, and the mint stopped issuing those almost a century ago. This is a great year to buy, direct if you can afford it. Ultrahigh relief's, Lincoln cents and commems, new Sacagaweas, and let's not forget the regular issues. Next week it's time to get out the old credit card and buy!

 

I can't say Iam exclusive either. I also buy from Mintproducts a company that Green18 turned me on to and Iam very happy with their service/products

 

No, I do not agree. Three main reasons:

1) The premium that the mint charges is ridiculous.
2) Most coins sold by the mint go down in price not up.
3) Very few of today's issues interest me as a collector -- why should I buy things that I don't want and don't like?

 

Buy from the mint ?

It takes a while to get a feeling for what has the potential to go up in price. I like to see some price appreciation besides the metal price. Some pieces elude you until the mint makes a move. Having good information, and following press and other releases of information, is part of potential growth.
In 2008 there was a short period where good buys, and low or single year production made a coin set.
Other pieces just occupy room and might be used for pocket change.
My opinion only !

 

When I DID still buy mint products I found it cheaper to buy from my local dealer unless I was buying a lot - which I wasn't.
How could that be? He orders in bulk as a dealer and the shipping is the same if you buy one or one hundred. He'd sell to me at $1.00 over mint issue price. Had I got it from the mint I would pay mint cost PLUS the shipping.

As for "first strike" mumbo jumbo it's a joke to me honestly. Can most people here really tell the difference between a 69 and a 70 unless it says so on the slab?

Now, I'll admit I DID just order the High Relief from the mint. I have no real desire for it nor can I really afford it right now but the limit is ONE per customer. Guess what the boss wants more than one so I ordered one for him. He's already paid me for it plus a nice little bonus for doing so.
When it arrives I will not open it. I will take it to work where we send it in for slabbing in hopes of the illustrious 70 grade and first strike. Then he can sell it for stupid money as I call it.

It WILL be a hot coin I feel but like so many others will level out and probably drop as soon as the "I gotta have a 70" crowd is done. At a $300 premium from the mint I can see it going for under that in the future depending on the price of gold.

 

I recently read a blog regarding your third point. It appears that some of the sleeze in this hobby buy whatever volume they want directly from the mint, cherrypick through the sets (i.e. proofs), keep what they want and return the unwanted coins back to the mint for a refund. Guess what the mint does... sends them out to the next person. I'm not saying these are bad coins, I'm sure for the majority of us they are fine, but I personally don't like the idea of someone already having their paws on my "mint" stuff. It was suggested if you order from the mint order very very early.

 

Who are they.

Who has enough capital to do what you suggest, and then possibly have the coins graded to sell ?

 

here's the article I ran across..

http://coins.about.com/b/2007/09/19...asty-practice-of-cherrypicking-proof-sets.htm

 

Its simple.

Don't buy any coins from the mint that you can get at local banks or by trading with fellow collectors, P's for D's, that kind of even trade. Its too much fun searching new rolls for the best of the best examples, just MHO.

I think the prices coming out for their products rarely will ever see a huge growth in value, in our life time, too many produced, too many collectors. Even though I just said that, I did make almost 800% profit on the 06 ASE 3 coin set that I hated to have to part with.

I see a lot of products, in the coin shops, go cheaper a couple years after release. So it can pay to wait, if money is tight.

I'm too stuck on Early American coins to want to pay the prices for modern coins.

Keep on Collecting!!!

Allen

 

Is the new Lincoln coins set worth getting with only 50,000 being sold? I am new to buying from the mint or dealers. Ice

 

No.

I don't collect modern coins. In fact, coins that are made by the mint don't interest me at all, they make as many as people will buy, what's the collecting challenge there aside from having enough money to buy them?

 

you buy any current coin from the u.s. mint. you can play if you can win or loss in the very near future. like you buying UHR double eagle. and e-bay is way up their prices. you buy any old coin from the dealers. you loss immediately 25% to 50%. sometimes even 80% if there is no buyers.

 

I figured out where my bank gets its coins recently and I have been contemplating showing up over there and seeing if I can get fresh rolled boxes or even possibly sealed mint bags(I know they have bags LOTS of bags).

For business strikes I figure a bag from there may be just as good as a bag from the mint and would probably be cheaper since there most likely wont be any shipping fees or outrageous premiums.

 

I expect it to be very popular and a quick sell out. It will then jump on the secondary market as most the people who bought them then flip the sets to those who got shut out. After a year or so I expect them to settle back down as people move on to the next flip item.

 

I rarely by from the U.S. mint, because they don't sell the coins I collect. I usually buy older coins.

 

The mint are the sleezebags in this senerio. They are the ones sending out returned merch at full price. They should offer returned merch at 40% discount.

 

They would never do that as then they would have to charge a restocking fee to the buyer why settle for 50-60 percent of cost when you can get it all. Ice

 

Who gets the best coin ?

Looks like the dealer has the edge.
TPGs might not know which coins belong to who.
If they grade prescanned coins for dealers vs individual collectors
the dealer has the edge with the return policy of the mint.
Maybe raw coins are better for a collector and certified graded units should be purchased as soon as they hit the market.