Discussion in 'Coin Chat' started by DonDurbin, Nov 14, 2019.
Perhaps I shall follow, but I'm gonna need a whole bunch of Johnny Walker. Can you supply me?
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It seems some folks are unhappy with the Mint.....
So how is that new? That's been the case for decades
You have the sense of humor of a sardine.
It's not even being sarcastic, complaining about the mint or about collecting or grading has been going on for decades if not longer. There is nothing new about any of this
I give up.
For what? Why do facts get get such disdain here?
I stand corrected. A sardine has a better sense of humor than you do.
Yes sir I'm going to open the package and stick it in a hole.
There may be some that have a different hole in mind for you to stick that coin.
Link ? I'm unaware that sardines had a sense of humor.
Did they have items get sold out decades ago like this ?
Back then, everything was probably mail order or maybe phone order. Might have SEEMED more fair.
free budget shipping... for the rest of the calendar year.
I signed up for a reminder 2 weeks ago Got my reminder at 12:54. 11/14
My Son in law lives in DC he stopped by the mint store there about noon & the guy said he never got any and was getting phone calls from irate people cussing him out. My Son in law said the guy told him that looking at his screen someone made a large order? I thought it was 1 per household the large order probably went to HSN I believe HSN & the US MINT have been backdoor dealing for years, but who will investigate? No one and they know it.
I'll probably get the same email....about December 27th !!
Just keep watching threads on coin forums, as they usually discuss upcoming products from the mint.
I believe someone already mentioned this: “you can’t make everyone happy”.
This launch could have been handled in two different ways to address the most common concerns that I’ve seen:
1) The Mint could have completely eliminated the flipping frenzy by offering this coin at a proper market value at launch rather than the artificially low price of $65. Prior to launch there was a demonstrated market value for this coin of 10x the issue price based on eBay presales. By offering this at a $600 issue price, there would likely still be coins available for purchase now. Of course, instead of website ordering issues, many would be complaining about the ridiculous issue price and criticizing the Mint for trying to overcharge collectors for profit.
2)This coin could have been produced to demand, or some other higher mintage number such that everyone who wanted one at $65 could order one. Of course this would have made the issue uninteresting especially considering there is already a 2019W reverse proof issued earlier this year. I suspect in this scenario, many would complain about the Mint making too many of these saturating the market with supply and harming collector interest, and criticizing the Mint for trying to make a profit off collectors by producing so many.
Perhaps there is some middle ground between these two approaches, but I haven't seen much discussion.
Side note: US Mint operations are in fact set up to generate a profit which is transferred to the US government general fund and budgeted like tax revenue. I would seem the majority of the mint's $400,000,000 annual profit is derived from seignorage. I believe it was already pointed out that pennies and nickels are unprofitable to produce, not the case for dimes, quarters and halves. Its to find information on the profitability of the Mints numismatic program, total revenue is in the $450M range annually, I would be curious to know what portion of the Mint's operating budget is tied to the non-circulating part of operations.
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