Maybe I’m just high

Discussion in 'Coin Chat' started by Scottinvegas, Aug 18, 2019.

  1. Scottinvegas

    Scottinvegas Member

    But when thinking about buying mint sets from the mint. Yes the coins are special and not meant for circulation blah blah blah. But bottom line they are money and your buying it from the government because they print our money. So at the end of the day why do they charge 59.99 for 1.91 of face value money? Are the charging 58.08 for the plastic and box? Can we just go to the mint and buy then at face value with out the container? If not why not?
     
    Islander80-83 likes this.
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  3. Islander80-83

    Islander80-83 Well-Known Member

    Because the mint knows people will pay that price. Years ago I thought it would be a good investment buying mint and proof sets... WRONG!! (BTW: never use the words "investment" and "coins" in the same sentence) I learned the hard way.

    I can't give 90% of them away today! :( Maybe that's why we find them in circulation, people breaking them out and spending them. ;)
     
  4. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Why do you think that the TV hucksters have survived for 30 years? It's because P.T. Barnum was right!

    Chris
     
  5. MeowtheKitty

    MeowtheKitty Well-Known Member

    Wow is that how much mint sets cost now!???? Meow does not buy them as they over produce them. A large percentage of Mint products can be bought for way less than issue price a few years down the line. Besides that how many can afford the huge amount of products the Mint churns out every year anyway?
     
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  6. Dimedude2

    Dimedude2 Member

    I wait a few years before buying a proof set. I wonder if dealers still purchase them for sale.
     
  7. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    The mint is required to recover its costs for numismatic items. The FULL cost - including depreciation. Not just the face value of the coins.
     
  8. mikenoodle

    mikenoodle The Village Idiot

    What kind of depreciating do Mint Set coins do?
     
  9. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    The mint's equipment and facilities depreciate.
     
  10. LakeEffect

    LakeEffect Average Circulated

    2019 Mint Sets are $21.95
    2019 Proof Sets are $27.95
    2019 Silver Proof Sets are $54.95

    As mentioned, the mint is required to recover all costs. Think raw materials, tooling, manufacturing (including labor), packaging, sales, marketing, accounting, customer service, etc...

    Not saying it's worth it but it is what it is.
     
  11. Michael K

    Michael K Well-Known Member

    Mint sets were only about $2-$3 when I bought them in the late 80's. (.91 face), They came in cellophane plastic with a mint token on a copper planchet, prob the most valuable part of the set. Unimpressed with the low quality coins inside, I sold them at a yard sale and never bought them again.
     
    Islander80-83 likes this.
  12. Clawcoins

    Clawcoins Well-Known Member

    Just like when you buy a Car, or Trailer or anything Brand New, you pay for all the manufacturing costs, labors costs, etc for that product. The mint is no different.

    If you buy that car, trailer, rv (or coin) in the used market you can save a lot of money.

    But if you *really want* that coin (or car, etc) when it first comes out, you pay for the privilege of getting it brand new.
     
    wxcoin, tmeyer and Burton Strauss III like this.
  13. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    Yes... Also remember the allocations of fixed costs, esp. depreciation and overhead is squishy.

    If you and the wife share a car and each drives if 50%, you tend to expect 50/50 on the costs.

    BUT if you have to drive to work and her driving is all discresionary, you could argue for something more like 75/25 or 80/20. This is why you employ accountants. It can ALL be argued many different ways...

    Would the coin press suffer less wear and tear if the mint didn't make collectable coins? Certainly. Would you be able to do maintence during prime shift instead of overtime (more expensive). So collectables probably deserve a larger share of those costs. Etc.

    This is why accountants drink. Non-deductible adult beverages in large quantities.
     
  14. Bighub

    Bighub New Member

    What about the new commemoratives of Apollo Space mission
     
  15. Clawcoins

    Clawcoins Well-Known Member

    Be careful. make sure her driving isn't to buy toilet paper that you use :woot: ... or food/coffee for you :wideyed: ... could get messy. :yuck: Which is probably why you have an accountant(s) !! ;)
     
    LA_Geezer likes this.
  16. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    It is a very old joke...

    A businessman goes to hire an accountant. He gets three recommendations from guys at the gym...

    He asks the first one, what is 2+2?
    Four.
    Thanks for coming over.

    He asks the second one, what is 2+2?
    The accountant grabs his phone and frantically pushes buttons... Four, well Four point zero zero zero zero zero zero zero one to be precise.
    Thanks for coming over.

    He asks the third one, what is 2+2?
    What do you want it to be?
    Your hired... Can you start Monday?
     
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  17. Kentucky

    Kentucky Supporter! Supporter

  18. Scottinvegas

    Scottinvegas Member

    Lol that was an awesome answer. Good advice about the words coin and investment I’ll write that down
     
    Islander80-83 likes this.
  19. Scottinvegas

    Scottinvegas Member

    Like I said it’s only $1.91 in change :D
     
  20. Scottinvegas

    Scottinvegas Member

    :D :D that’s great mind if I use it :p
     
    Burton Strauss III likes this.
  21. mikenoodle

    mikenoodle The Village Idiot

    Then explain to me how the US Mint has been producing Cents for the past decade or so. Nickels as well. Both coins have cost more than their face value in materials alone for literally years and years.

    How does the requirement on recouping costs work again?
     
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