Seeing all of those 2021 Morgan and Peace dollars being listed on EBAY has me thinking that a major calamity looms on the horizon. These coins had a strict household limit of three, yet some sellers have more bids than allowable under those limits. Now sure, there are ways some people/dealers skirt this, but what happens if somehow the bids exceed the amount they receive? Some sellers even goes as far as listing coins graded as PF70 without even having them in hand, nor at the third party firms. To be fair, most listings state that should they grade lower a refund in difference will apply. But based on what? Worse yet, how many foolish individuals bidding on pre-sale coins will not get the coin or a refund? Will EBAY purse these claims? More importantly, is this not some sort of violation of their policy to list them as pre-sale in the first place? I would think not allowing a listing without first having the item is a horrible business idea. I correct in my thinking this is going to bring about some major changes in how the company conducts their auctions afterwards. Just my thoughts. And your's?
No change is going to happen, this happens on everything. No disaster is looming either. It’s eBay, you don’t have to pay just because you buy something or won something unfortunately. Most of those likely haven’t even paid yet and many will cancel if the price doesn’t keep going up. If the grading comes up short for some of these them they will either work out a new price or the seller will just cancel it.
As far as quantity of coins a dealer has, I think they were authorized to purchase more than the general public.
They weren't, they just buy them from other people that got them. Anyone can do it if they want to spend the money for it
I believe there is a list of authorized bulk purchase dealers on the mint website (but that might just be bullion?). This describes the program. https://catalog.usmint.gov/bulk-purchase-program-landing.html Unless I misunderstood the question. You can find press releases and articles on it.
A guy I work with asked me about buying these from the mint for flipping, as some friends of his suggested he do it. I told him if he could get in and complete a purchase to do it, but he would have to be onsite when the sale started andbe lucky to get a purchase complete, He said his friends have a computer program that makes the buy with 1 click. What they do is make several USmint accounts changing only 1 letter in the address (sagebrush to sagebush). Load them in the program and when sale day comes, 1 click completes all the buys and checkout payments. He wasn't too sure on the details, but he says it works for his friends everytime.
Doubtful. They may say that but very doubtful that is actually the case People with the ability to actually by pass systems don't encourage others to clog it up nor do they brag about it.
