Should the US Mint Reduce their Product Selection and Mintages?

Hmmm. Funny you should mention this since I was wondering, just yesterday, wht the general public felt about the 1921 Peace Dollar? With more than a million of them being produced, do you suppose there were folks out there that thought, these ain't gonna be worth anything in the future?
Do you suppose that those folks which stuck them away had any idea at all that they'd be worth $100 even worn so badly that you could barely make out what the date was?

I compare that 1 Million coin mintage with the recent Native American coins at only 50,000 pieces or even the reverse proof Presidentials at only 17,000 pieces and while they may not be worth much today or even in 5 years, the mintages are still really, really low.

Sure, coin collecting is all about popularity and really, the only reason that Morgans are so danged popular is that a lot of the collectors today have this thing about the piece having silver in it and how they remember these as kids.

Whats gonna happen in 100 years when we're all dead and gone?

Is there a 100 year old coin series where even the common dates are worthless?

Most of all, lets not forget about the role that the internet plays in todays coin prices and over all interest.

 

Log in or Sign up to hide this ad.

Nah! Not in today's market. If I wanted a coin and refused to buy from a "professional" flipper, I'd have to buy it from a "non-professional" flipper because anybody that has more than one of a popular item, instantly becomes a flipper in the sense that, they KNOW that what they have can be sold for more than what they paid.

The thing is, coin dealers have figured out how to game the US Mint's coin buying system. The ONLY way to counteract this tactic is to either play their game, thereby becoming a flipper by proxy, or simply buying what you need when they go on sale at the US Mint.

Of course, the US Mint could change their "on sale" times to around 9 pm ET which would allow all the "working folks" a chance at ordering some but I don't think that's gonna happen.

 

So help enlighten my density. A poster asked you earlier in the thread why this would be a good thing overall for collectors and you never answered the question.
So I'm asking too, why would this be a good thing for collectors.
BTW there are dealers and flippers voting in your poll (I think we know which side they're on) so I wouldn't put too much stock that the results are as lopsided as you think they are.

 

They should start making 2 and 3 cent pieces again.

 

Don't forget the twenty cent pieces.

 

I'm not interested in what others do. To wait or not wait is their choice - although I do think it's a good idea to wait rather than buy in a frenzy secondary market. I would just like to see the Mint scale back on their product issues. I think that would be best for the hobby in the long run.

 

I did answer. Just read my posts and you will find it. Actually I can quote it into here again...

I don't think the poll is that lopsided, but if it is I would think flippers/dealers want things to stay the way they are. More "special" products to sell should be more beneficial to them rather than less products. They already have the market cornered (as far as getting at release) so reducing the number of products isn't going to help them.

 

The US Mint should limit it stuff and also stop recycle coin to a different name or them gimmick sets. Soon you are going to see different colors or even shape coins if they don't stop. On the other hand if the mint limit its mintage on coins or sets, then them crying people will cry more. But I do think the US Mint should limit it mintage to coins or sets that aren't as popular.

 

the mint is in business to make money. more coins minted means more money made.