Man, Oh Man We's Gettin' Hosed By The U. S. Mint

For years and years I bought a mint set for each of my grandchildren. It got up to buying 20 sets per year. The mint started adding the Presidential dollars, then all those quarters. I couldn't co it anymore. I started pulling back from Proof Sets, Silver Proof Sets, Proof and Uncirculated Commemoratives, Special Sets, etc. I just quit. Getting only the basic coins for now. I will stop them very soon.

 

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And if sales decline then their cost per unit INCREASES.

 

New prices now in effect.

 

Because I can't help it, I calculated what we're now paying for silver.

 

Not necessarily. While the cost to make it could increase, it's also much cheaper to ship out a lot fewer items with a higher profit than a lot of items with a low profit. There's more than one area they have to account for the costs of.

Realistically if they didn't have to they would rather not deal with the public at all and just deal with big dealers or at the very least dealers. The small public orders have a much higher cost and the public returns things at a significantly higher rate

 

You ain't wrong. However as a business goes that serves the public this is wrong. It's good if they are direct to dealers like the silver bullion is though
Do we really want the mint selling everything direct to dealers and paying for their cut?

 

Maybe the higher prices will drag the value of the older stuff to higher levels.

 

Why not? You could then pick ones and the market will dictate the price. A number of things would be cheaper anyways

 

I waited until i saw it to believe it and its a fact. I then remember getting a notice with several questions about raising the price. Well, I’m done with buying from the mint for now. My poor pocketbook cant handle this kind of increase. I’m retired and on social security. This would wipe out a ss check in a heartbeat. Bye-bye mint.

 

Not necessarily. These price increases do not affect the approved or authorized dealers of Silver Eagles. The "Uncirculated" Silver Eagles that have increased in price only refers to the ones sold to the public as collectibles. You pay a premium for the box and certificate. The dealers of Silver Eagles can still buy their monster boxes at the old prices. Eagles sold to bullion collectors should not be impacted. It's the so-called "collectible" stuff from the Mint that the average Joe/Jane buys that is being impacted.

 

For most things I'd actually say yes. For many years the way to get the best sets was to look at them first in the aftermarket

 

Don't stop just yet. Wait until the Innovation Dollars series ends.

 

I have one innovation dollar, the first one. I bought a roll of each so I could include one in each set for my 20 great grandchildren. I never intended to get any more. I hope I can avoid any new fodder from the mint.

 

I just about gagged when I saw what I had to pay for the ASE-S this past week. The Mint can say all they want to about the price increases. I'm not their accountant and I have no idea if they are lying to us. (I believe they are.) My father told me a story one time that I will always remember. There was a man whose lawnmower broke, so he went to his neighbor to borrow his lawnmower. When he asked his neighbor if he could borrow his lawnmower, his neighbor said, "My dog's dead." The man was perplexed. He asked his neighbor, "What does your dog being dead have to me borrowing your lawnmower." His neighbor replied, "If you need an excuse, one is as good as another." I believe that the Mint's dog is dead.

 

I am going to use this story. Awesome!

 

I think you got the story a little wrong...the lender would have asked why did he need to borrow the lawnmower? then the borrower would have said my dog is dead, then what does the dead dog have to do with borrowing my lawn mower...finally if you need an excuse to lend me your lawnmower one is as good as another...

 

I guess it all depends on our source. I was about 30 years old when my father told me his story. That was over 40 years ago. I like my version as I have used it for many years whenever a neighbor asked me for something. By the way, I live in the country and have 6 dogs and another 20, buried in my yard somewhere.