US Mint site just blocked me!!

I got notification today that my V75 was shipped.

 

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makes you wounder if it is on purpose

 

Their customer service isn't much better than the website. I called today when there shouldn't have been much going on. This is the fourth time I've called with same question. After waiting on hold for 5 minutes someone finally answered. I finally got to ask why the Mayflower gold reverse proof offering says it had a mintage of 5000 under the product number and then said was limited to a mintage of 10,000 at the end of the description.
The customer service rep didn't know and put me on a brief hold to speak with a supervisor. So I waited, and waited and waited some more. Finally got back on the line to let me know they were requesting help from a supervisor and please hold some more. Waited on hold for another 5 minutes and then the call cut off after 22 minutes and asked me to take a survey. Never got an answer. I sent an e-mail asking as well. Never got an answer.

 

I did get the gold World War II Anniversary gold 1/2 ounce coin. It was the same frustration, but a beautiful coin. I'm shocked I made it to check out and have it sitting in the house now. I had thoughts of flipping it for a rarer date Morgan, but after seeing it, it's not going anywhere it will get passed down to my son. The proof finish is incredible can see your reflection in the coin the pictures don't do it justice. It had a 7500 limit on the mintage but it's not showing the increase in price that the silver eagle is. I'll wait a year and see if they drop some with a mintage of 75k I don't see how they are worth the price. Disappointing though because I have all the other ones from 2020. Even a preorder on the Emergency mintage S in MS70 grade. That one was reasonable $68 off Ebay PGCS graded MS70.

 

How many were for sale in the US, and how many for sale in Great Britain?

 

Idk if the reverse proof was offered in the UK?

 

The silver proof set and 500 of the gold proof set are offered in the UK but the RP isn't. The sets had a coin from each country the RP does not so no reason to think the UK would be selling those

 

Sold out...Oh well, that's the way it goes in Hollyrock...

 

With mintages that low what did you expect? Most of it was gone in 30 minutes. Everything was gone in under an hour. I expected it. You've got the tv shows, dealers, thousands of collectors and their friends to compete with.

 

I wonder if you have to present your secondary market ID before you get served??

 

I’m hearing through the dealer network that a very large number of these coins were bought by “kids” (20-somethings) with absolutely no interest in coin collecting. The dealers report that most of the over-the-counter buys have been from these people.

That is the first time something like that has happened with a US Mint release, which would explain the quick rise in price and the sudden falling out. (Dealer buy prices went from $600 to $400 in just a couple days). The coins were concentrated by dealers and “kids”, which then diffused into the collector market, creating a supply glut.

 

Warm. Several large dealers as always recruited buyers but given the pandemic had less control over the situation. Word got (kids talk and text a lot) out and word spread through social media and things backfired as the “kids” went rogue deciding to keep the coins and sell on EBay. We’re not talking about bus loads of non English speaking Folk but College kids.
The result now is these kids think all they need to do is load up and buy everything that comes out, such as the Mayflower coins. All one need do is look through the Ebay listings and look at the sellers.
I say good for the kids. Despite infiltrating into something they may know nothing about, some may get interested in collecting. These dealer flippers likely still got loaded up, just not as they’d planned.

 

They can thank the youtubers with their stupid gimmicky pictures and promises. All offerings sold out in under an hour. It still would have been a successful offering if it would have taken 2 days, 2 weeks, 4 weeks before they sold out. They would have gotten into collectors hands. They didn't have to sell out that fast. Whatever happens happens now.
Its very hard for me to believe there isn't 5k people who would like to have the gold RP in their collections....in the state of Massachusetts alone. That is a very low mintage for a universally celebrated event and a pretty neat commemorative. A nice MS example of the 1920 version goes for 10 to 13x melt value and there's 150k of them out there. Nobody's giving them away for melt. So there must be SOME interest. The two coin silver set probably should have been 30 or 40k.

I’ll share a funny story with you guys. A collector I know was trying to buy one of the reverse proofs on eBay at a reasonable premium . It’s not me as I was able to snag one from the mint although it’s still processing even though I bought in the first 3 minute. Anyway he bid $845 last second. Somebody’s high bid was 715 (issue price lol) so he won it at 717. The seller wrote back shortly after and said it was no longer available. So he wrote him back. Then the seller says I’m not going to lose $100 on this. At this point I’ll just send it back to the mint. Then he says o thought it was no longer available. Then the seller says it was damaged. Lol. What a laugh. People and their pre-sales. Everybody wants a get rich quick scheme.

 

Apparently this wasn’t quite correct. The “kids” had selected the slow-boat shipping option, so the coins were scarce in the market until last week, when the “kids” started receiving their orders. This created the supply glut. Dealers have also reported little to no collector demand at the inflated prices, so they are falling like a rock to get rid of them and short them to the next dealer. The delay in shipment has caused many dealers to back out of pre-buy sales because the prices dipped below their bid before they had a chance to get their hands on a coin.

 

I agree. Once the frenzy is over, those who want one for their collection should be able to get one for a more reasonable price.

 

I think you are probably very lucky. I just wait and can pick up 90% of what I want at a lower price than the mint after a period of time.

 

Yet the v75 are selling regularly at about the same price

also
https://www.greatcollections.com/Co...ent-Packaging-and-Certificate-of-Authenticity

https://www.ebay.com/sch/i.html?_fr...&LH_TitleDesc=0&rt=nc&LH_Sold=1&LH_Complete=1

Yea little to no demand

might need some new sources when what you say contradicts what is publicly visible on multiple retail outlets

 

Pretty wild that link has more than 2000 listings of "kid" sellers that have sold the issue. Wonder how many more listings haven't sold yet...seems to match the Intel saying the big dealers are not getting more of these at a lower cost on the secondary market.

 

Not sure where this magical place of low cost versions are but I’d love to visit it

 

We'll just have to wait and see where the prices end up in a few months. I doubt if they will be as high as they are now but then again, it all depends on the demand. Right now I see quite a few people selling them. That alone should result in a price drop in the near term. Once the feeding frenzy is over we'll have to wait and see where things stabilize. I'm not sure how many people are buying them as a Christmas gift.