Mint is Cancelling previously confirmed Morgan orders

Discussion in 'US Coins Forum' started by ANM, Oct 21, 2021.

  1. baseball21

    baseball21 Well-Known Member

    Which is standard. It’s been well over a year where any carrier needs to get a signature. Not ideal but shouldn’t be surprising to anyone by now
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  3. johnmilton

    johnmilton Well-Known Member

    Years ago, everyone who wanted a Proof ASE could get one with no hassles. My parents used to buy one for me for Christmas. Now it’s a lottery with lots of hoops to jump through.

    Perhaps it’s a good thing that the recent Mint Director has resigned. It seemed that he was “collector hostile.” Maybe the next guy will care about the people who really make the market for these coins. Perhaps the next guy won’t sell the product out the back door at a premium to dealers before the coins are offered to the public. Perhaps the next guy will not set the mintage so low, as he did with the World War II counterstamp coins, that the small number of people who get them will not be “lottery winners.”

    Let’s hope the next director is more interested in satisfying collectors and not dealers and flippers.
    Marshall and wxcoin like this.
  4. Jim Dale

    Jim Dale Well-Known Member

    I recently read an article in Coin World the was not too kind about Ryder. It seems that he is the culprit that set the limit on the 2021 Morgans and Peace Silver Dollars. It seems that he is (now was) the one that helped the dealers get a large chunk of the 175,000 Morgans and the Peace. He also supported the "Privacy" of the dealers. According to the article, their secrecy is a "state secret" and is well guarded. I've looked at some of the shows on TV and they are selling the 5 Morgans and the Peace for between $2,000 and almost $4,000. The dealers also gets the first coins long before they are released to dealers so that they can have certified coins ahead of collectors ordering their coins. Like I said, that's why they sell out so quick. There aren't 175,000 coins available to collectors.
    skm likes this.
  5. johnmilton

    johnmilton Well-Known Member

    Mint Director Ryder even had the brass to start another lottery for coins that "he struck personally." The reported mintage was 500 pieces.

    Really? Do you think that I would give a rat's tail just because this guy pushed the button when the coins were struck? Talk about an inflated ego!
    wxcoin likes this.
  6. baseball21

    baseball21 Well-Known Member

    Which was smart. It's still a fairly high limit but if they were unlimited they would have just turned into bullion coins that would have been a logistical nightmare with so many different offerings

    So in otherwords he did a great job and did the right thing. Every business should support the privy of its customers. You don't have a right to know about their orders just because theyre a business. You wouldnt want someone else to be able to demand information about your orders and they deserve the same respect.

    It's a shame to see him go, hopefully the mint wont just fade back into irrelevancy like it was for many years before him.
  7. Conder101

    Conder101 Numismatist

    I think for the regular proof ASE's it's still pretty much everyone who wants one can have one. The limited special ones are a different matter.
  8. johnmilton

    johnmilton Well-Known Member

    Sorry. No True. I just checked the mint site. None of the Proof ASEs are available. It was that way a couple months ago when I last checked. Collectors were shut out. Collectors should not defend this mint director.
    wxcoin likes this.
  9. Conder101

    Conder101 Numismatist

    In 2019 they sold 319K W and 146K S proof ASE, in 2020 they sold 357K W proof ASE, in 2021 229K Type 1 W 323K type 2 W, and 254K S proof ASE. I don't think they really made it that difficult.
  10. baseball21

    baseball21 Well-Known Member

    Yea they really didnt especially since you could have a subscription for it.
  11. Cvette2015

    Cvette2015 Member

    Careful there are over 100 other genders or is that pronouns you might need to also mention? Sorry wrong forum for societal sarcasm.
  12. johnmilton

    johnmilton Well-Known Member

    I couldn’t buy one, but if you want to join the people who support the pro-dealer and flipper, anti-collector, Mint Director, go ahead.

    It’s okay. As a type collector, I’ll buy a Type II ASE next year. Unlike some type collectors, I am not stuck on the have to have the first year of issue thing.
    Marshall likes this.
  13. John Burgess

    John Burgess Well-Known Member

    Like the main reason to CC and the O cost so much on the secondary market is because they had a limit of 10 coins, where it was reduced to 3 coins for the others. 3+ times less hands got them increasing the secondary market demand. it's people buying the extras to sell or flip, and people willing to pay the price to get it that did it, and no other reason for it.

    I didn't try, and I don't even want these, but the mint did in fact cause that, and in inflated cost for those two issues, and made it harder for people wanting all 5 or 6 coins to get the whole set doing what they did.
  14. baseball21

    baseball21 Well-Known Member

    That's not really accurate. The CC and O were always going to cost the most as they are the most popular in the Morgan series and are products that are very unique. They could have had a limit of 1 and still would have had a premium (especially the CC) and pretty much everyone new that from the day they were announced
    wxcoin likes this.
  15. johnmilton

    johnmilton Well-Known Member

    I didn't want the Morgan Dollar thing either. I only wanted the Peace Dollar to see what the design looked like when it was fully struck.

    I might have my order canceled, or it might turn out like the gold Mercury Dime, which didn't even have split bans.
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