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Julia Tyler First Spouse Gold Coin - Why so High?
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<p>[QUOTE="rocket, post: 922294, member: 24349"]I'm a little confused. There seems to be a reference to US Mint employees doing this or doing that, shipping this or that and yours back to you, etc. To the best of my knowledge, and I admit I don't know all that much, the logistics of selling the mint products, collecting payment, etc. is handled by a contractor to the mint and not the mint itself. I won't mention that subcontractors corporate name, but if you have ordered anything in the last year, look at the return address label and do an internet search for them. The complaints - in my opinion - should be against the contractor and filed with or reported to the government (mint).</p><p><br /></p><p>Regarding the first spouse gold series, with such low mintage numbers - especially lately - I have to wonder how many they strike, how many they plan in advance to strike, and what the logistics are for returns. I would have to believe that someone takes a look at the returns before returning any of them to stock, and there is some pass/fail criteria that provides for melt and/or make more. In the case of the Harrison that was mentioned, I would imagine that it is possible that the problem with one coin was a problem with more than the one coin, and buying a second one before returning the first would prove whether or not it is the case. </p><p><br /></p><p>Now I had an interesting thought regarding low mintage numbers... If dealers do buy up a lot of first spouse gold and return them, I would think that there would be limits as to how much they can do. They (the US Mint web site) do have a statement saying that they can reject orders. If dealers are buying and returning too many, they must be stating a legitimate reason, or the dealers would be limited from ordering in the future. This is just my thought - it probably isn't reality.</p><p><br /></p><p>Since I'm on a long rant - I did perform an interesting calculation using the UNC Anna Harrison as an example. My question was: How many dollars worth of UNC Harrison's were sold? If the final number sold was 3,537 coins and lets say they did go for $766 each, the total number of dollars worth would be 3,537 x $766 = $2,709,342. The Tylers' UNCs are probably low mintage as well. </p><p><br /></p><p>Perpetuating this a bit further, if the limits for first spouse mintage is 15,000 per coin issue, and if they are $800 a coin, it would only take $12 million to buy up the complete number of allowable production and corner the market. For some of the multi-millionaires and billionaires out there, $12 million is pocket change. Thoughts?</p><p><br /></p><p>Oh, and if someone could please tell me why it takes so long for a final update on sales of the Tylers' first spouse, I'd appreciate it. The only thing I can think of is that they need to give the marketplace a 7 day period for returns to come back in order to come up with the sales numbers...(?)[/QUOTE]</p><p><br /></p>
[QUOTE="rocket, post: 922294, member: 24349"]I'm a little confused. There seems to be a reference to US Mint employees doing this or doing that, shipping this or that and yours back to you, etc. To the best of my knowledge, and I admit I don't know all that much, the logistics of selling the mint products, collecting payment, etc. is handled by a contractor to the mint and not the mint itself. I won't mention that subcontractors corporate name, but if you have ordered anything in the last year, look at the return address label and do an internet search for them. The complaints - in my opinion - should be against the contractor and filed with or reported to the government (mint). Regarding the first spouse gold series, with such low mintage numbers - especially lately - I have to wonder how many they strike, how many they plan in advance to strike, and what the logistics are for returns. I would have to believe that someone takes a look at the returns before returning any of them to stock, and there is some pass/fail criteria that provides for melt and/or make more. In the case of the Harrison that was mentioned, I would imagine that it is possible that the problem with one coin was a problem with more than the one coin, and buying a second one before returning the first would prove whether or not it is the case. Now I had an interesting thought regarding low mintage numbers... If dealers do buy up a lot of first spouse gold and return them, I would think that there would be limits as to how much they can do. They (the US Mint web site) do have a statement saying that they can reject orders. If dealers are buying and returning too many, they must be stating a legitimate reason, or the dealers would be limited from ordering in the future. This is just my thought - it probably isn't reality. Since I'm on a long rant - I did perform an interesting calculation using the UNC Anna Harrison as an example. My question was: How many dollars worth of UNC Harrison's were sold? If the final number sold was 3,537 coins and lets say they did go for $766 each, the total number of dollars worth would be 3,537 x $766 = $2,709,342. The Tylers' UNCs are probably low mintage as well. Perpetuating this a bit further, if the limits for first spouse mintage is 15,000 per coin issue, and if they are $800 a coin, it would only take $12 million to buy up the complete number of allowable production and corner the market. For some of the multi-millionaires and billionaires out there, $12 million is pocket change. Thoughts? Oh, and if someone could please tell me why it takes so long for a final update on sales of the Tylers' first spouse, I'd appreciate it. The only thing I can think of is that they need to give the marketplace a 7 day period for returns to come back in order to come up with the sales numbers...(?)[/QUOTE]
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