Changing Face Of Coin Collecting

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He was talking about the "presales" but yea its by far and away their most profitable sales. The dealers that can do so actually pay above the listing price and are required to pick up the coins themselves for delivery

 

One day the US Treasury will have to construct another vault or bigger vault to store surplus metallic dollars and half dollars.

 

Actually they do. They limit it to like 10% of the mintage which so far most seem to fall sort of that given the added cost and hassle for the dealers. But yes they will keep selling to whoever once the HHL are lifted and of course the only ones that can buy bullion are the authorized dealers.

https://www.coinworld.com/news/precious-metals/advance-american-eagle-sales-offered-for-bulk-dealers

 

I'll have to agree with you on that. I tried the trend of newer commemoratives and such. when I got a few they left a hollow victory in my heart such as the 2014 "commemorative baseball glove" coin. reminds me of a carnival keepsake for busting 6 balloons.

 

It absolutely should. They should not make any numismatic product that they cant turn a profit on. I get the commeratives are forced on them, but I'm happy they made the change to wait until they recoup their costs. It's simply a waste of money for them to make numismatic items that lose them money

 

Then why do they still make circulating coins that lose them money?

 

Coins for commerce is their literal job

 

That is not true, and in addition, the idea that the mint can run on a profit is also not true, any more than it can run at a loss. It is all Government and Government prints money as it needs it, regardless of how much revenue it brings in, or not.

If they are making a profit, they are actually stealing from the public.

 

Common misconception. The USPS does not get any taxpayer money. It supports itself through postage and services. it is not taxpayer funded.

 

Its not a government agency any more, any more than Amtrak. As you sure they get no government buget allocation?

 

Economically this is accurate. Government agencies aren't suppose to make profits. When they do, they withdraw free money from the economy, just like taxes, but without the legistlative oversite.

 

BTW that is why the fastest way to stop inflation is to simply raise taxes. That drawns money from the economy and puts a thumb on inflation.

 

I don’t believe it is or should be.

 

I have read through this entire forum and all of your posts.
Maybe I am just an old soul and totally out of touch with everything.
I only collect what I like. Period!
An example, I currently have 258 coins minted from around the world during my birth year, 1966. Yes, there are a few silver coins in there, is it worth much?
Probably not.
To me, it is one of my favorite, most priceless collections. If I could only grab a small part of my entire collection during an evacuation, it would be first in my hand!

Then, the next one I would grab would be my complete set of "W" quarters. I like that they were only put out for circulation to find, small mintage numbers, and from a seldom-used mint.
Does that make me an investor or somebody that just appreciates something cool?
I think a little of both. Think what your life would be if you had a roll of 1909-S VDB pennies? At the time, they were worth very little and nobody thought anything about them. I bet SOMEBODY saved them because they were "neato".

If I was only allowed to grab one more part of my collection, it would be the complete Canadian small cent one. I searched long and hard to find all of those, I have about 90% of the varieties too! Why do I like this set? It is a finite set, NEVER to be minted again and it was relatively inexpensive to build. Will I ever have the 1936 dot cent, probably not, but it is still a cool set to own.

I guess all of this rambling is to say, let the "flippers" flip the expensive coins and commemoratives. If you really "LIKE" the coin, then get it! If you don't, then let it go. Why do you HAVE to get the latest, greatest, most shiny thing set in front of you?

I can't afford any of the Silver Eagles, or a 1916-D Mercury Dime, but I LOVE all of the coins I can afford. I enjoy the looks, the feel, and even if I don't know the true story of where a coin has been, I can make up a believable one.
When you hold a coin, of ANY value, remember it is still worth SOMETHING, maybe not to you, or the next person, but it could be worth a million dollars in the eyes of somebody.
End of rambling

 

No. Nobody's forcing the public to buy anything.