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

Mint to demand with an introductory price that's subject to change?

 

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There is no way to "mint to demand".

They mint the entire stock at once because it's too expensive to mint to demand.

 

It can be done and $85 can then become $95 and so on until the orders stop. The only reason not to like mint to demand is that it takes the greed out of it.

 

I agree, limits should be 1 at first for a period of time, give people a shot at getting one before letting people come in and grab 5-10-20 to sell out the item, it's not rocket science, they have no limits on items they will produce and fulfill year round, just on these items of limited mintage, they set this arbitrary limit that changes nothing, but looks like they are doing something.

But no they won't do a 6-12 or 24 hour 1 unit only period, they want to mint 175K of them, make a limit of 10, and that's knocking it down to 17,500 customers or so, they know darn well more than 17,500 people want those, seriously it's throwing a bone at the secondary market, and then when folks complain they missed in less than a half hour, they take the baby steps trying to placate the complainers to stick around, while still funneling most of the product to the secondary market,,,, just as intended.

The mint can sell these products without the dealers and flippers in the middle, maybe that's not true for some other offerings, but the dealers and flippers aren't salivating for the loser items, they aren't buying them to let them sit on the shelves for years. NOPE

And seriously at this point, it's not like they can claim "uhhh, we didn't know this would happen" nonsense deflection it's happened now two years in a row and this is the 3rd year of it in a row, they know exactly what they are doing. Heck they even did the double release again like with the V75, Knowing full well how the site would react and folks not being able to get one of each even. It's on purpose, and then placating nonsense afterwards on how they will do better next time,,,, but this exact thing is going to happen again, at least 3 more times this year alone, and it will happen next year also.

We may not like it, but that's their business model, it's not incompetence, or an oversight, they do it and then they say "opps, didn't see that coming, but next time we will do better!" leading customers along by the nose, and then they do it again and again and smile all the way to the bank. the dealers and flippers will adapt to whatever they put in place to get what they need, the only way to actually give regular folks a real shot is to have the 1 household limit on day one for a period of time even just for 3 or 6 hours. I'm sure the dealers will just find 1000 people to place orders on day 1 instead of 100 to get what they want, BUT the 1 household limit might just get the dealers to wait for the time period to end and then place an order for the 1000 pieces in one shot and cut out their middlemen instead and buy from what's left, dealers and regular folks are still getting them on the same date. BUT if the collectors get them at mint price, the dealers don't have the line of customers waiting so much on the secondary market and willing to pay their markups. 175K isn't a rarity, it's only rare because most of them went to dealers and flippers and not collectors, which has to be the mints plan in the first place.

if they wanted to do better they would have done better already. the way it works, works just fine for them. they still sell it out and clear the inventory, so don't fix it if it ain't broke.

 

Probably

 

Delay the production of them permanently. Want a Morgan? One can get a real one on eBay in 30 seconds, that is a real Morgan Dollar, and not an overpriced, awful looking reproduction of the real thing. Get a coin that is genuine, over 100 years old, and does not look like a low relief fraud. Also, you won’t get frozen out from buying it, and nobody will try and gouge you in the purchase.

 

I can't argue with that. I'm curious on how people will feel about these coins in October when they finally start showing up to the purchasers of them. People were happy to have won the lottery on Monday, Not sure how happy they will be 4 months later when they can finally cash in the ticket though.

 

And this, this is just crazy.
https://www.ebay.com/itm/1747835476...=true&nordt=true&rt=nc&_trksid=p2047675.l2557

In the listing posts
"2021 Morgan Silver Dollar with CC Privy Mark presale confirmed. Shipped with USPS First Class.
This is a presale item and will ship in October.
Photos are from the US Mint catalog."

And someone bid it up to $280........ yikes. seems they are averaging $220-$250 on ebay right now, I have no idea why.

What Morgan dollar could I buy with $280.......hmmmmmm... LOL

 

For $280 not a Morgan but rather a 1794 large cent don't have one pre draped bust and the 1793's are to expensive.

 

Message from the mint. It's hard to keep an appointment when your brain is out of town and your butt is on the toilet. Thanks for your patience America, duh...

 

I agree. Mint to demand is the way to go. Mint to demand may impact the aftermarket, but the aftermarket will have to cope.

 

what a disappointment.i was looking to get a peace dollar one.thanks for the heads up!

 

I was lucky enough to get 5 of each one. I was going to have several graded. But looking at the Prices on Ebay I am not sure.

 

they say the problem is that demand for silver is so high they are struggling to make purchase of the planchets to strike the coins... their story is they can't mint to demand because they don't have the silver to do it.

31 U.S. Code § 5116(b)(2) states in part, “The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term ‘average world price’ means the priced determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary.”

they are locked into buying at paper market spot price, not physical silver price, or real world market prices. they have to buy at $27.45 an oz currently and not a cent higher. everyone else is willing to pay higher currently, the mint can't because their hands are tied by the legislation.
the premium added to bullion currently, I believe some or most of that's the extra money above spot it takes for a supplier to secure the physical silver delivery to supply to their customers. the mint isn't allowed to pay that kind of money for it to compete with everyone else. even with silver vendors, who have to pay more to get the silver, and more than silver spot, it's hard to get what the mint wants at paper spot.

in this case "mint to demand" can't function, they don't have the silver to do it. they have to work with what they have and when it's gone it's gone or carry backorders and maybe not fulfill the items if they can't source the silver at the right price.
Not defending them, just saying how I understand it to function currently and why they can't do it.
they stopped the First W SAE and will produce the 2nd one this year, but they stopped the first one because that was all the silver they had allocated to making them, and they are sitting on supply for the type 2 reverse now.

Same thing for the morgan dollars. they secured 1,075,000 commem planchets for that, and that's all they have to make the 6 of them with, Also why they made the Peace Dollar 200K and the other 5 all 175K, to use up the allocation, and not make a morgan dollar with a higher mintage than the other 5. they could have done it differently of course, but it can't be split equally 6 ways.

 

well you have time to think about it all, about 4 months. if you do sell them on ebay, list them as accurately as possible, be clear about the delivery dates happening much later, and offer no refunds or returns on a pre-order. As long as you represented it accurately, and it's delivered "as described" the buyers will be locked into it.

if it's not it can be a huge mess and people wanting to cancel a month from now or 2 months later when they find a better deal.

 

It’s past time to lower the household limit and do a lottery system for popular stuff like this. The average person has to schedule time on a weekday to be glued to a computer at the release time in their timezone. Then everybody’s is jammed into it at the same exact time and it’s pure frustration and luck of the draw anyway. Why not just let everyone send it true pre-orders for a month in advance and do a lottery? Split up groups by alphabetical order when it’s time to pay. There’s many ways to solve this. What they’re doing isn’t working.
If they have the fastest servers in America and the stuff sells out in 2 minutes will everyone be satisfied? Basically if you don’t have a gaming computer and a fiber optic line you will miss out when it gets to that point. Every sale.
It’s time for them to figure out something that works. If they don’t already have the silver on hand to make these right now they will not be able to acquire it. They were ignorant leaving the mintage limit open if that’s really not the case. I still question if they’ll be able to make all of these this year. There’s no minting to demand this year even if they wanted to. Way too far of a spread on spot now. If it continues I wonder what they’ll do next year? They’ll be screwed. If they aren’t already.

 

Maybe it’ll be like the old days. You have to send in your own bullion to them and tell them you want them to turn it into 2021 Morgan and peace coins. Lol!

 

now this would be awesome!

 

I thought it was my computer because I kept getting a message that there was a problem with connections. I was able to get into other websites, so it wasn't my problem. I got about 4 different messages that told me they weren't able to connect with me. I only had a window of 10 minutes to try to get one of the Morgans because I had an important doctor's appointment at 1P. I got back to my computer at about 3P and the message was "REMIND ME" (or something to that effect). I had already entered remind me on them way back. Anyway, either my computer kicks them out or they don't "REMIND ME". I did that a few years ago for the gold dime and they did connect with me and I got it and the SLQ and Walking Liberty Half Dollar. Never had them graded tho.
To all that were able to get their Morgans, congratulations and maybe next time for me.

 

I know of at least one private party who's been doing just that, except he's turning them into "1848 CAL. Double Eagles", and the bullion has to be in the form of 1850-1876 double eagles.

Having said that, I would love for the Mint to accept 1921 Morgans for conversion to 2021 commemoratives. I'd even pay a reasonable premium to cover their expenses.