US Mint delaying launch of 2021 Morgan Dollar D & P mint marks

Seasoned collectors know that those designations mean nothing. Large dealers are targeting the speculators, new collectors and those who have been conditioned to the importance of status symbols.

 

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I think people will be unhappy no matter what the US Mint does.

I try to think of the website issues as a "luck of the draw" kind of thing.

It's as close to luck as you can get since no person has control of who the website crashes on and who succeeds in placing orders.

However I am proud of myself for only ordering 1 of each instead of the 5 of each I originally planned. It just seems wrong to me to try to profit off of something that some people just want for themselves to enjoy. They shouldn't have to pay overinflated prices.

But then again I do think some sort of rarity or mintage limit is a good thing since it does help with increasing value over time.

That's why 1921 Morgan Dollars minted in the tens of millions are worth far less than say an 1893-S Morgan Dollar with a mintage of only 100,000.

I'm still gobsmacked that the CC & O Privy 2021 Morgan Dollars are worth about what a V75 Silver Eagle sells for despite the fact the V75 only had a 75,000 mintage and the CC & O have a 175,000 mintage EACH.

I've always thought that American Silver Eagles were far more popular than the other modern stuff.

 

Same with the whole MS/PF 70 thing.

Now sure if a coin looks flawless compared to an MS69 with a hairline scratch I understand.

But when you can't tell the difference between a 69 and a 70 it seems pointless to pay a lot more money for the 70.

 

Truth

 

The difference between PR-69 and 70 isn’t even a hairline scratch on a modern coin. It can be as little as a pinpoint hole in the Proof fields that caused by a minuscule die defect. Most people won’t notice it.

 

The difference between being uncirculated and being more uncirculated.

 

Hahaha I got this email this morning as well.
What a joke.

 

That so called apology was spun with true political correctness. There was no hint of the US Mint having any responsibility. If you were to send that your boss or board of directors and used that language to justify an incident, describe root cause and propose corrective action you would probably get fired.

 

I was originally in for one of the Peace Dollars. After the debacle of the first two Morgans and now this email from the mint....I'm done.

 

Yes, I was interested in the Peace Dollar because I wanted a great, well-defined example of the design, but it looks like I’ll have to jump through hoops to order it, or pay through the nose to buy it on the secondary market. I should learn to do without.

 

We have our next grandchild due in November. I was looking for something unique as a gift. I could put a copy of the mint apology in with a card. But, that wouldn't be unique since it is only one in a series.

 

+The mint need to lower the household limit to 1 for the first 24 hours so the average collector has an opportunity to purchase one. Then open it up for whatever maximum after that.
That simple

 

Think PCGS will grade and slab it?

 

Makes me wonder, out of the 175k per coin...how many actually went to collectors or someone who just wanted one vs how many went to scalpers and big dealers. Like what is the actual demand?
I think your idea of limiting for the first 24hrs is a pretty good idea. Which means, the mint will never do it.

 

There is only one way to change the way the mint does business - we the vast majority of the collecting community need to shut them out of our world. Declare that these subject tokens are just that tokens or medals. Don't buy them at all.

 

they have web issues we all know that but i am not buying it, i think the problem is a lack of Silver plain and simple!! that's my final answer!

 

I think the mint should allow these new products to be included on the enrollment feature with a limit of perhaps 1 or 2. Then all the main stream collectors will get their item and will not tie up the phone lines or computers. But, there is very little we can do when we consider the politics and the lobbying being done to keep the pockets lined up in DC.

 

Gee, I didn't mean to cause such a stir...

 

By the way I sent a letter this week to the mint director with the 24 hour idea.
I'm sure I wasted my time & stamp.
It's time for the collectors to stop buying these types of items from the folks that are able to buy large quantities and sell at a over inflated price.
I saw a guy on TV selling 3 1921 Morgan dollars P-D-S for around $300.00 and they were in "genuine" slabs.

 

But even with a 24 hour limit what's to stop dealers from having all their employees, friends and families buy for them?

Then it becomes a game of "who has the most friends?"

I don't think there's a way to make it total fair.

However the website crashing & issues does act like a luck of the draw.

Some get through and others don't. At least no person decides who those people are. It's totally random.