Because the JFK Gold Half Dollar Was Such a Hit.....

WOW! The concept of dispersing coins randomly into circulation...that is an AWESOME idea. Could you imagine if they actually did it? I would forgive 99% of the mints mistakes over the past 3 decades if they did.

 

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I like the idea, and could you imagine the frenzy on all of the associated products? They would sell out of everything because people would be LOOKING for these coins in all of their random placements.

Do they even know how much money they would make off of selling all their clad bags and rolls salted with some of these special issues?

 

I would not be happy with a random entry into other sets.

 

Doesn't have to make you happy, they can do Proofs just for collectors, same as always.

However my idea would make the coins 'wear' a little and not everyone would be a 69 or 70. Average people would be able to find them and possibly pique their interest in coin collecting. The 'hunt' would be on from all types of people, speculators, serious collectors, casual collectors, etc.

People today still talk about AND look for the 1943 copper pennies.

I'm just saying it would be refreshing and bring a little fun back to the hobby.

Plus the mint would make MUCH more money then a finite mintage of gold coins that only a few will afford.

 

Like you said, their job is not to make you happy. So why do all of you complain about how they do things?

 

Well because some of us like to see improvements from time to time, and since the mint is in it to make money, why not do something that will boost the enterprise overall and even benefit a few true collectors? (The extra profits also boost this nation since they get deposited back into the treasury)

The current method allows for a few rich collectors to own these new pieces, and the mint only makes a percentage over their cost, which is very predictable when you have XXXX units minted.

With my model, you have a few proofs like they did in the old days for collectors such as yourself who wouldnt want to search for the pieces (plus you can always buy on the aftermarket). Then coupled with inserting some into the random wild, you will accomplish all of the other benefits that I outlined earlier. What that would do for our hobby and this business would be astronomical. The mint could inflate prices a bit on bags and rolls and make enormous profits and again sell out of every product potentially harboring these circulation pieces. More 'regular' people would be searching, sort of like the lotto, hoping to gain a big score with little cost. Collectors would go nuts, coin roll hunters would go bananas, collectors of the individual series would want one to complete their set (and it would fit in the albums, unlike the gold). Also, the chance of obtaining 70s dramatically decreases and makes those specimens truly rare and worth the money. The residual the in the subsequent years would be felt in all areas of this hobby from new collectors and rekindled interest in 3 classic series.

So the reason they would want to go my route over status quo would simply be for the money. Which is fine with me, if all of us win, and we get some excitement and buzz forming again in this hobby. Wouldn't you like to see a further increase in your own coin holdings?

Plus, where is the benefit from doing it 'your' way, which is the mints current model? Were you satisfied with how they handled the Kennedy gold? Are you tired of the mint selling collector pieces with so little difference in each variety that you know its a gimmick?

This new method would throw us back to the collecting roots where many folks started, the nostalgia would be incredible, and the hobby would surely see another rise.

Ill tell you what, why dont you explain to me why its a good thing to proceed as normal? From what I can tell the mint has been losing customers and many folks have been constantly complaining about their tactics. This too will surely send off many folks who are bitter that they cant afford these gold pieces.

 

So you wouldnt be happy if you received your change from the grocery store and a brand new 2016 mercury dime was staring back at you? You would be mad!?!? Knowing that you just probably made like $500, lol. I feel ya.

 

I expressed my feeling in the other thread that the mint should simply re-issue these designs as our circulating coinage for next year dated 1916-2016 similar to the bicentennial coinage in 1975-1976. The mint has been and continues to alienate a large portion of collectors who may not be able to afford a 3 coin issue in gold/platinum or perhaps not even a single coin if they are offered separately. They are also completely alienating the next generation of YN who aren't going to be able to afford a three coin gold/platinum set. If the coins replaced circulating coinage I think it would be a better idea than a limited number dispersed throughout different products. If they were limited it would turn into wild chase for profits by flippers and big dealers and likely again alienate a large portion of collectors.

 

I dont understand why they cant simply do both.

For years and years the mint made circulating coins and then proofs for the collectors.

Make proofs of these in gold for all the 'big dogs', and then my other idea for a limited number of each denomination dispersed throughout current circulating coins.

 

In theory sounds great but the 'big dogs' would simply dominate the market for the limited number dispersed in circulating coins. Same thing that occurred when the coin mentioned in the thread title was released will happen again. They will have cash at the ready to buy up every single coin that's found, followed by slabbing and extreme mark up sales. Would a few coins end up in regular collectors hands sure that's likely. But by your own words you already know what would happen to the price and if Joe Public found one he'd sell for that $500, not appreciate and collect the coin. Again this would simply alienate a large swath of collectors and create another fiasco.

 

Well doing the same thing we've been doing isn't helping. At least this a new idea and does have the chance of reaching more regular folks.

So let's say the mint made 250K in each of the 3 denominations. Release half into the stashes that get rolled for banks, so they will absolutely enter commerce channels. Then salt all of their similar products at the mint. The big dealers can't buy all of every product and especially before they get into hands of average collectors. Of course they will buy on the secondary market, but at least that's a change for once instead of buying them all from the source and maintaining a monopoly.

What other ways can we change the broken status quo and still have fun with this?

 

I seen a lot of good coin come out of the US mint also see junk.
One thing every one forgotten is their like a Corporation profit is a goal.
I don't buy a coin hoping one day it's my retirement fund. I buy what I like don't buy what I don't.

 

CoinTalk thread of the future: "Gold Std Liberty found roll searching"

 

I am of the belief that limiting production to gold and platinum is missing a golden opportunity for both the mint and collectors.

Why are these designs so popular? Because they were the workhorse of the economy. Everybody used them in everyday transactions. Sure they were beautiful designs, but they were heavily circulated and that is why finding early pieces in uncirculated condition is like finding hens' teeth.

I like trey's idea for distribution but I agree with bliss that the same guys who found a way to take advantage of the JFK release will find a way to buy up all the bags and rolls, etc. out from under collectors again.

All I know is I can't afford gold or platinum right now, and I don't think that should preclude my ownership of any type of commemorative. It should only limit my choice of composition.

I don't think Weinman or MacNeil would approve.

 

It is only legal for the Mint to make these in bullion formats, gold and platinum. Anything else requires Congressional mandate. Don't blame the Mint. Blame the guy in the mirror for electing the current Congresscritter.

 

And all this time I thought silver was considered bullion...

The only reason they enjoyed such popularity is because they were accessible to everyone.

I guess it is appropriate to commemorate the fact that what was once freely traded among even the poorest Americans is today only available to a select few.

It's out of touch with reality.

We could search the archives here for what got most of us into collecting, and it would be highly probable that one of these designs was the culprit for more than half of US collectors. Either you remember when they WERE everyday change or you visualize the awestruck wonder of seeing it the first time. This compositional limitation is a shot in the foot for attracting YN's.

 

Ask this:

If these designs were limited to gold AT THE TIME, when gold coins are also being produced as money, would they have been as popular?

I rather think not.

 

Did the mint not make coins that were out of reach to "poor" collectors in the past? You complain these are out of reach to some now and they weren't then. Well, collect modern cents and dimes then.

 

I'm very lucky and could afford the gold ones. The problem is I hate modern coins and wouldn't touch these with a ten foot pole.

I like the ones I have now much better.




BTW, I hope you buyers get all 70s with First Strike.....

 

Wow, those are some stunners Chief! I love the toning on that SLQ