Why did the 2021 D shoot up so high in value?

That would literally be basically the dumbest thing they could do losing all legitimacy in their numismatic products. Basically the only thing dumber would be lying about the composition of the coins.

If they want people to stop caring about anything they make thats a great plan though

 

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The issue with that is it would make it impossible to price anything. That’s a rule 1 violation, don’t sell anything unless you know what is!! I still think people are free to buy whatever they want at whatever price they want to pay. The hobby itself doesn’t take them to raise.

 

In equity offerings, you have an optional "greenshoe" of extra shares that the underwriters have an option on. If the stock shoots up on the IPO day, it helps relieve buying pressure.

I don't think it would destroy Mint legitimacy. It would CERTAINLY deter speculators and hoarders if they saw the price run up on their hoarding the product and then getting burned as the Mint released more coins.

 

There is a reason Icahn was an Icon with that tactic.

 

No, that was greenmail which is totally different.

 

Coins have nothing to do with stocks and it absolutely would destroy not only the mints legitimacy but collecting as a whole as people get disgusted by the dishonest practice.

You'd have to have an IQ of 50 to ever buy anything from the mint ever again knowing that at any time they can/will release a hoard and crash the price. Anyone with half a brain will wait for the release and price crash if they even care at all.

The mint just went through about 5-6 years before 2020 where you could basically count the products on your fingers people actually cared about being an actual embarrassment in numismatics compared to major world mints and now you want them to be deceptive as well?

What would actually happen is that not only would new collectors, younger collectors, and modern collectors be completely done with that nonsense you'd go back to basically no products because no one will buy them and just a boring embarrassing mint.

This is one of the biggest problems with forums and all the people calling things scams, fraud, deceptive etc when really all it boils down to is I dont like it or I dont like the price and want it cheaper. That leads to solutions that would be detrimental for problems that dont actually exist.

 

Hmm.

 

Is it honest right now with speculators and a few dealers gaming the system and getting 40-60% of the mint releases ?

No, they would ONLY release more coins if the price rose hugely in the aftermarket.

A 10-30% rise in the market is not a concern. A 500% rise in retail prices paid is a concern.

Not deceptive, but the threat of an increased release would be there, yes.

It wouldn't be a surprise....it would be well-telegraphed. I am NOT talking about the Mint destroying the market for those who paid OGP at retail. I'm talking about the secondary market in the days and weeks after.

Hey, I'm NOT wedded to this proposal...but it is something I do think has some merit. It would clearly deter speculators from gaming the system and then artificially boosting the price with restricted secondary supply.

Do you think the posts here on Mint released coins (esp. of "hot" products) the last few years inspires confidence and support for the Mint ?

I have NO PROBLEM with a free market dictating things.

I have no problem with individuals acting in their own self-interest.

But here you have a few dozen collectors/dealers/firms/telemarketers gaming the system. A government issued product should not sell for 300% or 500% or more a few hours or days after it goes on sale, IMO.

If you and the majority of people at CT and most coin collectors are OK with this, fine. I don't buy stuff from the Mint for the most part (maybe 3 purchases in 12-13 years).

Do you think the speculator and secondary price runups are a concern, BB ? Should that be addressed ?

I do. If most people here don't, then my proposal (that's all it was, not a mandate) can go in the dumpster.

 

Sigh. And my point was proven.

 

You mean going through the same process everyone does trying to get it? From the guy the defended GME trading be shut down because it was costing hedge funds to much money?

Just sigh

 

If someone wants to buy a coin then buy it, if you dont like the price dont buy it. Numismatic coins are a luxury that no one has the right to try and demand price control over. This isn't medicine, food, or a necessity, dont like the price dont buy it plain and simple there should be absolutely 0 government control or deceptive practices for price control on them

 

FWIW...I never said that GME trading should be shut down and surely not because it was costing hedge funds too much money (probably very few hedge funds besides Melvin Capital).

But this is irrelevant to the gouging in the secondary market. These coins are supposed to have limits like 1 or 2 per household....and you have speculators with hundreds or thousands of the coins.

 

Like I said, I really don't care.

I just thought that many people here and on other sites have been angry for YEARS that speculators are hoarding the coins and taking them from legitimate retail coin collectors.

There are other ways to limit buying en masse by speculators, but hitting the price via increased supply is one way that will work.

 

Which has been explained NUMEROUS times before. They buy them on the aftermarket at an inflated price. It's not rocket science there's no gaming the system

Shutting down trading is gaming the system, paying people to do something where they make money is not

 

That's more reasonable, but the price move in the secondary market is still disturbing.

I see 90% of the people here and on other forums saying they got shut out.

I really hope the people making the $$$ are the small and retail coin collector, BB.

 

So something like 0.001 percent of collectors are upset we need drastic changes?

 

No its not. There's no secret conspiracy. The more people have to pay for something they more they have to charge

So? Everyone had the same chance. Why should a minuscule part of collecting dictate everything

 

I think one really cool (and FREE!) thing the Mint could do is have the Mint Director or Engraver or someone involved in the coin autograph the COAs of the first 100 or 1000 coins actually minted.

Like when the Mint first starts up the presses to mint the first coins of a new design.

Then “First Strike” would legitimately mean a coin that came with a signed COA as proof.

I think it would be cool especially if they truly made it random. Obviously it would be stupid if resellers got all those signed COA coins so the Mint could go through orders and randomly choose from individual collectors.


Signing COAs wouldn’t even cost anything! Except maybe an hour or so of the signers time.

 

They've done similar things before.

https://www.coinworld.com/news/prec...nt-u-s-customers-get-autographed-certificates

There was another one where I think he minted the first 100 coins or something at a ceremony but I cant remember any of the details.

Of course people complained about all of it as usual. Now that he's retired from the job hopefully the mint keeps up the great work he did making the mint exciting and relevant again but time will tell

 

Something needs to change, as the First strike slabs are absolutely absurd.