...And you wonder why people hate the US Mint

As long as the mint keeps the coins comming I'll keep comming back & buying : )

 

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It is a big deal and you are simply wrong. They offered rolls of the 2003 nickels 5 years after "sell out" and the value of that asset went form aprx $50 to aprx $10. This is an unethical practice that undermines the very reason people buy from them. And no, no other business would do this.

 

Hello, since when did coin collecting become a risk-free investment? If you bought 1000 rolls hoping to profit from them on ebay but lost money instead, that's not the mint's problem. Almost no difference between this and buying stock; you decide what price to buy/sell, how much to buy/sell, and when to buy/sell. You are ultimately the one responsible for your loss and gains. In this case you ignored the small but possible risk of restock.

 

I know I paid more for them from the mint! but what the heck when they come out with a new version of a coin I just have to have them. Who knows maybe someday my great grand child will make some money off them like they are with the 1909 S and VDB. Wish my great grand father bought a bunch of them and left them to me!!!
itsallngoodtime
Bob

 

The only problem with that is that back in 1909 people didn't treat every new thing that came out like they were beanie babies and buy them all up and hoard them, it seems to me that ever since the early 90's people feel that if they can just hoard the right thing they will be rich, but the problem is tons of people are just trying to cling on to everything.

 

It's funny, I was just about to say I think it's despicable of the U.S. Mint to come out with something that was meant to be a common circulating commemorative, and not even send any to the banks, let alone charge us a premium... But than I had a different thought. Maybe the Mint is just getting even with all of us for chasing the banks like crazy for every circulating commemorative since like 1999 and buying them up and charging a premium and decided to cut out the middle man and put that cash into their own pockets, making it all kind of like poetic justice! Just my thought

 

The mint deliberately take items that have been "sold out" and reintroduce them into a market at a lower than market price. Your characterization of their practice is extremely dishonest.:hammer:

 

I disagree and i think you will find i am 100% correct , the coins being offered are coins unsold or returned , they are not churning out more coins.
I buy them and i dont feel undermined at all.Only those hoping to cash in quick feel undermined.
Read the thread and call out the others who have repeated what ive said.

 

I paid 13 bucks for mine on ebay.what a rip off

 

They are undermining the market in these coins by dumping the coins at 20% of current market price (in the case of the 2003 nickel). This was no quick cash-in it was 5 YEARS LATER. It does not matter if these are newly minted coins, why do you bring up such an irrelevant point?

If you tried to dump say coffee on the coffee market at 20% of market price do you think that would fly, no way you would go to prison or get a 6 figure fine. Same goes for most commodities.

 

If I dump a large quantity of any commodity on the market at one time for 20% of the going market price it will kill that market. The point about "known quantity" and such is not in any way relevant.