So I have this 2020-W Nickel which came with the 2020 Proof Set. Nice coin... But, as you'll notice on closer inspection, the mint intended to issue 3 versions of the W-mint Nickel in 2020. "Collect All Three" it says on the back of the packet! Well, as noted in this Coin World article, production of the 2020 Uncirculated Nickel (W) was eliminated due to effects of Covid-19 on the mint's capacity... So, if you run across this conundrum, now you know why there is no 3rd 2020-W Nickel!!!
Well that's a bummer. Current issue of Numismatic News has the 2020 uncirculated set at 211,787 sold. Too bad the mint couldnt produce a quarter million nickels to meet demand. Could've shaved some off the 1.5 trillion + business strikes I'd suppose.
I haven't made a purchased from the U.S. mint in years! One of the main reasons is my belief that they do more damage to the hobby of numastics. Those of you whom are not 60 + years of age may not know how the US mint tried its best after 1964 to discourage coin collecting. Up to 1964 you had mint sets as well proof....come 1965,66, &, 67 you had the special mint sets all with no mint marks. The half dollars now @40% silver instead the 90% as in the past. I can remember my dad telling me his reading,and seeing the government wanting to get more coins into the system . They some how had the idea that coin collecting was causing the hoarding of coins. At present I see the mint trying again to control the collecting market. Unfortunately what I see is the mint operating procedures causing problems for the evey day collector. The mint limited production of certain items, how they are offered to the public, and the way they have used the West Point Mint Mark as a hook to entice one to purchase , but then let down as the every day collector has to resort to hours on the phone trying to purchase one only to be let down. Now yes I do under free enterprise and take no issues until it effects my hobby. I read here on every mint release the trials and tribulations of you all trying to buy a new release mint item. Forced to pay after market price thats is inflated for an item they are under water on its value before it hits their mail box. My issue is that this sort of pratice only deflates the hobby....as who here wants to pay for anything today to find out tomorrow they over paid...and now that pretty new coin does not have the same value As it did before it was purchased. Now to 90% + of us here who have played the game know that we can ttry and purchase a new item and if lucky get one or more items that are on the spot over inflated in price and value. Again I get it.....free enterprise, but what does that do to the YN? The newbie collector who has been hyped into a hobby ,or purchase that now is underwater in value. I see it all the time collectors becoming disenchanted due to these practices. I see the mint using the West Point mint that was originally opened to mint gold coins,being used to produce items to entice the modern collector only to be let down due to these practices. IDK....but the mint has soured me years ago....as what it thinks is contributing to this hobby is actually hurting it. And I see the mint more so a business run by the government that monopolizes this hobby . As well price fixing or control of its products. Last check that's illegal for all other businesses in this country.
@Paddy54 Amen. I made my first US Mint purchase in 1959. I have been collecting since 1948. I made my last purchase last year. I will no longer participate in the scam that the mint is dumping on the coin collectors. Very little of what I have bought from the mint is worth what I paid. That is not the big issue because I didn't buy as an investment. I am done with them.
I've done well with mint purchases over the years, but I am selective, and if I miss out on something, Well, I miss out, simple as that, I won't buy it for a bigger markup if it's sold out. that all said the mints pricing in the last year or so has turned me completely off from buying anything from them, and seriously, like 6 or 7 Christmas ornaments on the schedule this year? Really? I get the one or two for the novelty, but it's as if they made a shift to producing novelty items like the franklin mint or something. LOL what's next, collectorplates with and imbedded mint set? (I know, dont' give them any ideas) Anyways. I bought two things from the mint last year, the silver american eagles designer set, and the 2021 mint set. both of which I thought were fair prices and because I wanted the quarters and the RP silver eagles of both designs. I passed on all other silver eagle offerings, and passed on the proof sets, I think they are over priced on most things and getting worse by what I can tell for 2022. those W nickels, yeah they killed the uncirculated one due to the current "condition". this also turned me off on them. When they wake up and get back to reality I might buy some products again, but looks like this is the new business model and not changing any time soon except for maybe the worse. Still the proof and reverse proof Jefferson 2020 W nickels are amazing. they sold 465,080 proof sets w/ proof W nickel and 313,184 silver proof sets w/reverse proof W nickel so, I'd suppose that's the mintage figures for those nickels.
I agree to a point. Well, mostly to be honest. There are many which I've added that were because I simply love the design or the historical significance of the specimen. There were the frustrations felt when I could not obtain one for a long list of reasons stemming from the mint's system or limits. Yet, to your point- and in my favor- one in particular is the 2020 Mayflower releases, which I could not get a single one on opening day. I got the reverse proof medal two weeks ago eleven dollars below the issue price, almost $20 if you add the shipping they would have charged. I won't pay the huge premiums those greedy individuals sell them for in the market place. Those West Point quarters? Greed of the seller and foolishness of the buyer greatly reduced the chances of finding even decent examples in circulation. So back in late 2019 I started buying PCGS MS65 examples paying a low of $19 and high of $31. I have 6 of the ten (4-2019 and 2-2020) and the prices are dropping towards my figures on a few. The remaining will follow suit in time. The point I'm offering, I do not fault the United States Mint. I blame the sellers in the secondary intent on turning an $85 dollar expenditure into a $300 or more profit by hyping them up as "rare" to the inexperienced and new collectors. They are not. Finally, what I think people overlook, the mint sees what collectors are paying for current releases on EBAY. More and more are sold before they even ship or strike. So, as Isaac Newton famously put it, "Every action has an equal and opposite reaction.". The mint is simply closing the gap between what they charge and what it's potentially going to resell for. What business would not?
I just enjoy the hobby, I buy and sell to get what I like, I just got into the Jefferson nickels and got them all only from 1938 to 2023 P,D,S and was happy I completed it only to run into these two over priced things, And of course I bought two for my book to ad to the blank spots because the book didn't account for them. but wait they have them graded by NGC, so you know, I had to buy that or else it won't retain its resale value. so now I got four of them, 1 proof, 1 reserve proof, 1 NGC reserve pf70 ultra Cameo, 1 NGC pf70. Boy I feel like a sucker lol $120 later.
Don't. It's what you felt you needed for your collection. It's what you enjoy doing and if you overpaid for an item you shouldn't feel guilty at all. It happens to all collectors. I paid $300 for an 1999 silver proof set back about 10 years ago. You can pick them up today for between 40 & 70 dollars. Talk about over-paying .....
The USPS makes wallpaper (too many stamp issues each year) and the US Mint is making ballast. After collecting for 75 years I quit a couple of years ago.
