For those of you who missed out on this set you may want to read this article. http://www.numismaticnews.net/artic...ent=966805_EDT_NUM-FRI170901&utm_medium=email.
Do you think the mint is going to take a look at how they allow people to purchase their coins? Limits to avoid a huge return from the big dealers who thought they could make a killing off of this? Limits to allow dealers to get their hands on 100 or so? What do you think would satisfy the masses? Anything? Good link Tommy!
To paraphrase someone famous, those who don't learn from the past are damned to repeat it. That said.........the mint don't get it.
Highly doubt it. Those coins cost then pennies to make. The real truth is that the massive buyers are the vast majority of their sales. If they want to alienate them and tick them off they will lose far far more than eating returns on these
or maybe state .. no returns if more than 5 are ordered. That would make them think twice. But that first guy's response would be great. limit orders to about 5 per household for a week then open up limits. They should do that for all coins that have limits. I got lucky. I bought one 2nd hand then saw online the returns and cancelled (they hadn't gotten their shipment from the mint yet) and ordered directly from the mint. The secondary market collapsed quickly after the 20k batch they had. And they're still available from the Mint!!
Why would they punish their best clients? I think coins are one of the only commodities where people expect the elite clients to be treated the same as them.
The Mint will never get the message. They are still selling Presidential dollars sets from 2011. Another reason why mint sets and proof sets still are in the dumper. IMHO any sets left over after the new sets are released should be destroyed. At least that way we could get some idea, based on total sets sold, what their values (might) turn out to be. These enhanced sets sales have turned out to be a total fiasco for the Mint.
While I think that they certainly turned out to be a fiasco for us collectors. I'm pretty sure that despite the return issues they turned out to be a hit for the mint as they've sold what around 180,000 of them. I mean it couldn't have really cost them very much to do the die enhancements on dies they would have produced anyway and they didn't even mint the dime, quarter, half in silver.
Not so much on the profitability side which I'm pretty sure there was enough to justify but more on the sold out, returned to sale, sold out and repeated. And more so all of the confusion with this, why the sets were returned, aside from failed credit cards. Who was allowed to return how many sets and why, which we will never know. That kind of thing. It does not give them a whole lot of credibility, churning the waters like they did. I wonder how many folks panicked when they initially "sold out", then went to ebay and paid upwards of $100.00, just to find out they went back on sale at the $29.95 and returns are still coming back.
@tommyc03 I'd be willing to bet because the sales of this set that we end up getting more 'enhanced' uncirculated coins in the future as the mint was already trending that way the past few years. I missed out on the set when it was first offered and because of the mints poor decision with no household limits then, I'm not going to buy one now and help them clear product that they're otherwise going to get stuck with.
I'd be wary of these returns, not knowing if they are truly damaged returns or not. Better if buying one now, to pay a small premium from a trusted dealer. But I agree completely with what you said.
