Why I am boycotting new issues from the Mint.

Agreed, but shouldn't that cost be similar to ASEs?

 

Log in or Sign up to hide this ad.

I know that it is false.

 

Spot on CoinCorgi. Boycott? I've been e-mailing them every week without a miss since November of last year and snail mailing about once a month. It's time for David Ryder and Associate Director of Sales and Marketing, Mathew Holben to go.

 

Since the turn of the century, my business has catered to the commercial general contractor. It was a business plan that worked well for me. Some years back, my competitors couldn't beat me so they chose to start marketing against me by self performing work. In effect, they were stealing the work from the general contractor. I worried myself sick over it and even considered the same approach. I chose not to do so and remained loyal to my general contractor base.... My competitors dried up and went away.

This is a true analogy. How many decades long collectors in the posts above have abandoned the US mint due to their recent favoritism practices? Yes, it may give them increased profits in the short term. But turning your back on your core customer base is a long term plan for failure.

 

My guess is that they can spread the cost of the press for ASE over millions of coins, while for commems/special issues, the cost is spread over a far smaller number.

If you're adventurous, a FOIA request could get all the details on how they allocate the costs.

 

I gave up buying from the mint almost 5 years ago, but had a relapse and bought the CC and O privy Morgans on Monday. I may just gift them though. TC

 

I wish they would have been $45 but the mint is trying to make as much profit as possible off of them and they gambled that people would pay $85 and that gamble paid off in spades. If people are willing to pay 200 to 300 for them on ebay, the mint could have charged much more and they still would have sold out in an hour or less. Luckily they're not a necessity and people don't need to buy them. Like many other hot issues, it appears the market has decided what they are worth and it's more than $85. There's no reason to be angry about it. If they were minted to demand, everybody would be angry about that too.

 

Definitely. The whole deal just took the fun out of it for me; impossible ordering, 5 month wait, and huge premiums...

 

They will go up as long as the type is hot. Then they will drift down to somewhere close to melt.

 

Unfortunately, probably. I would have loved to grab a couple of tubes of these at ASE prices.

 

The amount they do is overblown, but at the end of the day those are their best customers and every business in the world shows some sort of favoritism to their best customers. The ones getting any favor will spend more in a year than an individual will in the life. Those are ones that have been spending millions a year consistently and even then they have to pay more for the product and pick it up themselves.

Not to mention dealers are a free advertising network for the mint with them promoting the products etc

 

Correct. Ah, capitalism!

 

You really think so? If you had ten of them 5 years from now would you sell them to me for melt? Look what people pay for any 1893 from any mint with much higher mintages than these, except for the S. VFs maintain in the thousands of dollars. I realize all of these are new and the entire mintage will remain in perfect condition. And whether they're actually a continuation of the series may be up for debate still. I don't think they are, but some will see them that way. We know the collector demand is there to keep the values way up on low grade, key dates for real ones.

With so many people hanging on to multiples of these, there may never be enough for sale to fully satisfy demand and that could keep prices elevated or at least keep it a sellers market. It's not 175k of each distributed evenly to everyone that wants one. Looks like the majority want at least two for themselves and family. Some people will never pay the "ask". Others will. People buying and selling will set the market. Complainers will watch. We'll have to see how desperate people are to sell. Maybe they will crash, but some issues never do.

What we've learned is, nobody that wants one (or multiples), wants to take their chances on the secondary market at a later time. Everyone knows many mint issues do go down as time goes on but this didn't stop anyone. Dealers are paying well above issue to get them from people. Only time will tell.

All that being said, I find some releases exciting but I don't enjoy the experience trying to buy stuff either. Who would? I totally get why people would give up on it. It's a great feeling if you win and a horrible feeling if you lose out for the effort put in. If they were minted to demand and were $50 each, I still would have happily bought a set or two, had the same exact product and enjoyed it the same. It's probably what they should have done for these and what I wanted initially. Who knows if they could make enough to meet demand. It's yet to be seen if they'll be able to produce what's already offered.

 

Yes, they will likely carry a premium, but lower product cost and higher mintages might have helped both collectors, and the mint in the long run. Who knows anymore?!

 

My interest in buying from the Mint soured (and ended) when they cancelled my high-relief double-eagle coin order around 2007(?).

 

If, let's speculate, the mint decided in June the bulk dealers can pick up their orders in June from distribution and have a nice day, while everyone else has to wait on shipping to happen in October....
Wold there still be this much defense over what's going on?

Will those folks that bought 10 of each to flip the extras still want the 10 of each knowing the bulk dealers have a 4 month head start at the secondary market demand?
I'm not saying it will happen, I am saying it CAN happen.

Will opinions then change on what's going on here?

In my eyes the mint is trying to do exactly what they did with the bullion and end direct to end user sales and stick preferred bulk dealers in the middle reducing the amount of customers they have to fulfill orders for or ship to.
We see the massive markup premiums on Eagles now. Something that wasn't supposed to happen, but ya know, supply and demand and the few are now holding the supply instead of everyone having equal access to it directly.

It is what it is. I get the point of the original post and where the mint is headed by going the path they've chosen. It's more than just a sell out item and website crashes. They are signalling pretty clearly that big guy money talks and little collectors, well you'll just have to go HSN, the coin vault or JM Bullion instead of the mint directly.

My opinion it's a trial period for a switch over to "preferred dealers" to sell the products for them.

 

Collectors need to not only boycott the US Mint, but also the products themselves. If they are not a part of mainstream collecting they will have no interest and the dealers will just have to hold them. I have no plans to include any of these junk coins in my collection.

 

I gave up on the Mint several years ago. I don't care for the dog fights just to buy from them. All I wanted was to buy what was needed to keep my sets complete at a reasonable price.
The Silver Eagle program was the final straw. It got too crazy for me and I quit buying anything modern.

 

Just bought an actual 1921 morgan dollar not a billion round,i could see buying one around $20 but $85 is way out there.My advice buy the actual coin and not some modern gimic which will surely plummet after the storm.

 

Now check out these lol from the pobjoy mint?never heard of it but they are sold with still plenty of buyers.The one on the left isn't silver!!it's coupro nickel but the right one is at least half a gram of gold.