Should the US Mint Reduce their Product Selection and Mintages?

Hmmm. Reduced Product Offerings with lower Mintages generates Higher After Market Prices which Equals Whining about how "I couldn't Get one, I was at Work"! and "There's collusion between the US Mint and Coin Dealers that has to Stop"! and "The Mint's Website Sucks!" and "They're doing it all WRONG!" any number of other complaints.

 

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True most likely. You can't please everyone.

 

That would definitely happen when the coin is released. At some point the coins true market value will come to light though. It may take years, but it will eventually happen. When it does happen you won't get the flooding the market gets now. I think it's a HUGE mistake to buy something just released. Especially from a dealer/flipper. In the long run I think scaling back mintages and number of products would be a great thing for the hobby.

 

Why do you think reduced mintages would help the hobby? By making a coin harder for someone to add to their collection would help a collector in what way? The only benefit I see would be to inflate demand and possibly nudge up the cost of the coin in the secondary market and this does not - in my mind - help the hobby. I guess it helps the lucky ones who are unloading their coins.

 

lower mintage's means that many more dealers and flippers buying products using multiple addresses forcing collectors to buy after market and paying ridiculous premiums on products they should have been able to get at Mint prices, far as i'm concerned they could raise mintage limits 5x on all products so everyone has a chance to purchase at release prices...and maybe drown out all these unscrupulous dealers an flippers....

 

I'm thinking in particular of the UK Mint but equally valid for US Mints - I wonder how many of the commemorative sets or special edition coins issued since the start have actually increased in value? The big winners are the Mint / Government. I have a number of limited edition UK predecimal sets that I probably paid less for, relatively speaking, than they cost at the time of production from the mint.

The recent Sacagawea $1 - in fact any of the recent $1 President coins also - really? Are they ever going to be worth anything other than face or melt?
Edit - I voted yes. But this is a huge money making thing for the Govt and Mints. Never going to kill off this cash cow.

 

Anyone who has an interest in coin collecting will still collect what they can afford. Reducing mintages won't shut out the "little guy". It will prevent them from some types but they will still find something to collect. By the way, I'm one of the little guys.

In my opinion, the bigger issue is the number of products. Every year the Mint adds something new or "special". I believe when you have so many different "special" issues it takes away from the exclusivity of owning any one of them.

The issue is further amplified when you combine the broadening of avaiable coin types with growing mintages. By reducing the mintage figures I think more interest will be generated in collecting because owning a particular coin becomes more exclusive and therefore truely special. Unlike the fake "special" the Mint advertises.

 

No one is "forcing" collectors to do anything. Want to put an end to flippers... don't buy from them!!! I guarantee you flippers will go away if you don't buy from them.

 

did'nt seem that way when the Eisenhower coin an chronicles set came out, lot of people had no choice but to pay 3x or more the price because they sold out so fast because of low mintage.....

 

So flippers went to collectors homes and put a gun to their head??

 

lol, duh...

 

This comes from one of the little guys in coin collecting.

Not everyone can be guaranteed to be able to buy what they want. We all buy what we feel we can afford. I would love to own an 1895 Morgan proof but that ain't happening now or in my next six lifetimes.

The Mint is not doing anyone who loves modern issues a favor with their mass production. Just wander over to EBay and see how many Mint sets now sell for below the issuance price. I'm not trying to make a profit on my collection but if I want something that immediately drops in value I will go buy a car. (I hate buying cars.)

As far as the flippers go, let 'em eat their merchandise. Sooner or later, they will have to eat their greed.

 

Just did some poking around. When the 2015 high relief $100 gold coin came out, one could immediately see it pop up on EBay in the multiple thousands of dollars.

Seems some of those flippers outdid themselves. The prices have come down sharply and the only action on EBay is auctions with the prices running well below the issue price of $1,560.

The rest of the overpriced ones seem to be drawing dust. One seller is offering 10 pounds of them for $325,000 (cash and in person only.) LOl.

I may be late on this but the Mint site is again selling them for $1,560.

Seems like this market is correcting itself rather quickly. Hope those flippers are choking on them.

 

I've noticed that the after market prices for Mint products depend not only on mintage figures but even more so on the quality and popularity of the design. The Buffalo dollar is a good example of this. Despite a mintage of several hundred thousand it has held its value quite well.

Therefore the Mint should focus its efforts first and foremost on the designs. A couple of well executed commemorative programs per year would be more than enough. I don't see much long term value from the bullion proofs and other marketing gimmicks that have flooded the market over the past couple decades.

 

Thanks for your opinion @Endeavor I think we are both saying the same thing with an exception. I don't like how the Mint will make the same coin only to repackage it three different times in various limited edition sets. You have a National Parks quarter, then a National Parks quarter in a mint set, then a proof set, then a silver proof mint set, then a special edition silver proof cent that leaves out the nickel and cent while including an ASE. Things like that I don't like. When they take the same stuff and just repackage it and call it something else. The packaging really doesn't add any value to me.

Do I think the Mint makes too many commemoratives? I don't know. Most of the stuff they commemorate I don't care about and a lot of it feels like they're trying to appeal to various minority or special purpose groups. Girl Scouts? No thanks.

Mintages of these commemoratives...here's where I think we disagree. They should make as many that will sell or that the people who get paid enough to figure it out think will sell.

 

So if Endeavor likes a product it should be made, but with a mintage of a hundred or so.
If Endeavor doesn't like it, don't even bother making it. The heck with what other collectors might like.

 

Someone doesn't get it LOL

 

I did a poll to see how others felt about it and see if they had similar views as me. At time of this writing, the vote is 16 yes - 7 no. Apparently more collectors think it would be better for the Mint to scale things down some.

 

Ahhh.

So ............ you want folks to wait a couple of years before buying what was just released by the US Mint??

 

Judging by the secondary market for some of the Mint's releases, it certainly couldn't hurt much to wait.