Mint purchases

I meant MY statement was tongue-in-cheek. Of course, perhaps the problem with Liberty on the coin was not mumps but having its tongue in its cheek.

 

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I stopped buying proofs from the mint many years ago when they sent me a set with one of the coins smudged with dark grease of some sort. They exchanged it, sending a set with several of the coins smudged. Then I discovered I could usually buy what I wanted at a greatly reduced price on the secondary market if I were patient. Not always, of course, but usually.

 

Cut the cord. Cancelled the Morgan and Peace subs. Just seems like the Mint can’t get out of their own way. Nothing on offer for the rest of the year holds any interest to me. I too will be filling holes and upgrading sets with my funds going forward. Poor choices in practice, subjects, and execution all across their products.

Bought a £2 JRR Tolkien silver proof coin from the Royal Mint. Love the subject, and it’s a beautiful piece.

Rick L.

 

Unfortunately many items are down. That Lincoln set (I still have mine as well), was issued at $55.95 in 2009. For many years it was well above issue prices (even double) but lately it has come down. They sell for around $70 on eBay (with some auctions closing lower). At that average $70 price, take into account eBay fees plus shipping, one is barely breaking even.

The 2023 Morgans and Peace dollars can be found under issue price. The Reverse Proof Set that was $185 from the Mint, now sells for $150-$170 on eBay (so one is down even before fees).

The recent additional increases won't help this trend. Maybe a few items sell poorly and gain in the aftermarket but most will be available for less for the foreseeable future.

 

I will limit my purchases to the annual silver Proof set to keep my date run going. I would have almost been able to buy the set from my local dealer. He's offering them for $135.95, which is lower than the current mint issue price. He let me trade out the set I didn't like at no charge.

I figured I owed him something so I sold him a couple coins at a cheap price.

 

I just looked on ebay, had not done this in quite awhile. I did see one in the 60s, couple in the 70s, but majority in the 80s and 90s when one has to pay postage on top of the buying price.

I really haven't looked about the 2023 Morgan and Peace Dollar coins. What I get from what you state about the 2023's just makes me feel better I cancelled my subscribtion for the 24's and beyond. I don't know what the fees are for selling on ebay, but I use 10% to approximate. I'm not looking for an exact number anyway. No plans for selling anything at this time.

I don't see any other mint purchases this year or next year .

 

I understand your dislike of the Mint. The cost has really gone up, and quality is not what it used to be. I have only been collecting since about 1908. I got into it when my father passed and his coin collection was divided between me and my brother. The collection wasn't super good, but it was really a good starting point. My brother has his share of the collection in a box in his closet. When I got my share, I spent the time going over my share and was surprised of the collection. Many of the coins were in great shape. My father put them in 2x2's. Many go back to WWII. He was a military veteran serving in the U.S. Navy during WWII and in Army during the Korean War and Vietnam. He retired with 30+ years of service. Alas, he died in an automobile collision. Anyway. I have gone over my coins and have learned a great deal. I am disabled and am limited in my travels to coin shows. I started my collection with a reputable dealer. He listened to me and I listened to him. During our visits, I found that I like more recent coins. Although the Mint is expensive, I find that I like them for the more current coins. It's a real expensive ride, but, I have learned that I like more recent coins. I like to read coin magazines in search of coins that are more recent. I appreciate comments and impressions readers of in CoinTalk. Please keep up the great work.

 

Well, the mint put out a product limit of 75,000 for the flowing hair medal with a 1 household limit. There was a 5 household limit before. Here comes the run, are you buying it or selling? Maybe

 

Cripes, let the raping continue.......

 

I went to the store at the Philadelphia Mint a while back and was disappointed at the offerings. Everything they had was available on eBay for significantly less than their selling price.

 

I stopped buying from the Mint a long time ago, everything went way down after you bought it. But a few years ago I began buying again, but only the Unc Commemorative dollars. The mintages had dropped so low that I didn't think I'd be able to get them on the aftermarket for less than the mint price. I don't normally collect moderns but I started collecting the Unc Commem dollars because the mintages on a great many of them were low to very low, and I was able to pick up a lot of those low mintage coins for not much over melt. I'm having to pay more now, but the mintages are getting ridiculously. Last years Negro League dollar holds the low mintage record at around 8,444. So far this year, Harriet Tubman after almost 10 months of sale, hasn't cracked the 7,000 coin level yet. Even though they are overpriced from the mint, I don't see them falling in the aftermarket.

 

I will still buy from them but the mint is not a priority to me. I scan the product schedule to see what might interest me. I bought a flowing hair medal today because I wanted one and like the chance to get a privy marked one. Would only send it back if it arrives damaged. (And i have had to send some things back due to quality issues. Easy process.)
Other things from them I have had graded and mostly got 70s back. I liked the Mayflower 400th anniversary set. Bought the two coin set, rev proof medal and the gold and still have them but didn't get any of them graded.

The mint over does things. The Morgans and Peace should have been a one and done deal.
When they run out of war topics and presidents to commemorate the subject matter gets too niche. I have several ASEs but I don't consider myself a major ASE collector. I don't need to have every year and think the program gets boring. Only so many finishes , mint marks and privies to keep people interested. The 2016 30th anniversary ASEs were neat with the edge lettering. Got a couple of them. If they make something good for the 40th in 2026, I'll be in. I bought five of the 2011 25th anniv. ASE 5-coin sets when they dropped. They were only $300 for FIVE ASEs including a PF, rev PF and satin, in 2011 including the nicest boxes they've ever used. (People complained about the price then.) That was exciting and we got spoiled. Got two sets graded. Most are 70s and the S's graded 70s. Boxes were solid. Thick acrylic finish. Velvet. Nothing like that now. The mint would want $750 for those sets now.
Lucky to see a clamshell box if you pay $80 for a one ounce presidential silver medal.
The fight for the 2020 V75 stuff and 2021 Morgans brought us the waiting room and upgraded site which is much nicer to use, though seemingly rarely needed these days.
I don't blame people for not buying from them anymore. Its like everything else. Quality of product is gradually going down while prices gradually rise. The older you are the more eye opening the inflation is we have experienced. You've also seen the road the mint has gone down over the years and where it's headed. Over saturation trying to maximize their own profits on top of major inflation. After decades, people get burnt out and most likely just don't need any more. Tough to motivate people in the face of all this.