Second 2018 Proof ASE Coming

Dear Mr. Carr,

Remember that old coin press we sold you? Well...

 

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Been a few
The Unc 1996 olympic dollars
2001 D buffalo dollar

 

I thought the idea was to have something that had a limited number printed so they are worth more? If they make an unlimited number doesn't it decrease the value substantially? What am I missing here?

 

Just everything. The Mint should not EVER care about the secondary market even one tiny bit. That's not their job. If it were possible to MAKE SURE they can't know what the secondary market does, we should do that, but we can't.

 

They actually should though and part of good business is being aware of it. If they continuously put out things that bomb or lose value on the secondary market people stop buying directly from them which has been happening as more people realize they can get almost everything cheaper waiting a couple weeks

 

Go ahead. Take that chance. Make my day. When all the"'false demand" has been wrung out of new issues, and people buy ONLY what they want to keep longterm (no flipping, no dealing, no 'one to keep, one to go') then and ONLY then will we have a sane market.

I know this is hard for a dealer to understand, but I don't give a rip WHAT the secondary market wants. I want them all, of the series I collect, AND I want them kept in OGP.

 

I have nothing against being able to afford to buy an item and appreciating it in my collection but I also like thinking that it might be worth a little more down the road and maybe even save my behind if I ever get in a really bad, unexpected bind and have to sell it to pay my bills. Also, there is a sense of pride and pleasure if you can afford to buy a rare/limited item that you know many others don't have....even better if you can get it at a really good price

 

You can pretty much count on one hand the number of products they’ve put out in the last 3-4 years that haven’t become cheaper on the secondary market.

 

I recommend NOT going into coins with the idea they'll appreciate. Most will not. In fact, most will lose big.

 

And I BLAME the dealer community for that.

 

It’s a combination of poor designs selections (which is probably the biggest reason) and then things like mint to demand or montages that are way to high. It’s the same thing everywhere in the world where when it feels common and cheap from being over produced or an unlimited mintage people stay away.

If it was just dealers faults then nothing would have ever been a winner

 

By the way, it's NOT just here I rip dealers. I did it in person, in full baritone, AT the U.S. Mint forum a couple of Octobers ago, WITH my name badge on and my name spelled correctly. The room was TEEMING with dealers including WHOLESALE dealers, the true scum of the hobby. I. Let. Them. Know.

And I told the Mint that they had two choices - STOP listening to dealers, or keep watching sales plummet. They didn't stop osculating dealer gluteals, and sales keep dropping.

 

Dealers backing off their orders are largely responsible for the drop. Also the products just flat out aren’t good. It doesn’t matter what they do if better designs don’t start getting selected for their products, the commemoratives have been flat out pathetic lately

 

Just like any other investment/asset, increased or decreased value has a lot to do with the market and timing.

 

Yup, and the best thing they’ve done is eliminate blanket authorization to return product.

 

Which only impacts small time collector buyers. They’re not going to be saying no or charging any of their major customers

 

Yeah, but I'd rather chase after commems more than moderns. Moderns are fun to collect, but the 'chase', for me, is classic commems.

 

Everyone certainly has their own favorites. I can think of several of the moderns that had a lot of excitement until the mint to demand was announced and you could almost feel the excitement just get sucked out of the room

 

And the excitement is all over too soon anyway. What do they get for a Cooperstown coin today? Back in the day they were premiums boys, but what are they now? A fraction for what they were trading back then.

 

The entire “recent issue” market is a portrait of irrational thinking. None of it makes sense. If they announce a gold coin with a 125,000 limit, it sells out in days, hours, or minutes. If they say “mint to demand”, demand is 18,000. It’s stupidity on steroids. So I say make everything MTD and have scarce items. The ONLY answer is to completely destroy the dealer viewpoint. The gold Kennedy is THE MOST OVERBOUGHT coin in the history of numismatics and deserves the zero premium above melt it will soon have. You HAVE TO DO ANYTHING POSSIBLE to avoid buying games, and that means no artificial limits, total or per customer.

Won’t that create overbuying? NO!! If people think they have ages to buy theirs, nobody does. Only TRUE long hold collectors do.

Go ahead, make my day. Stop buying Mint Sets. I’ll be among the last 15 guys buying them, I promise.