US Mint Rolls. Questions???

Ok everyone. I have a couple of newbie questions.

I just bought 2 rolls of 2004 Sacagawea Dollars (P & D). I bought them first and foremost because of their beauty; secondly, because I wanted 50 fresh coins that I could cherry pick through and test my "eye" on quality (for practice).

Now, I know the mint ships all "mint" coins in a bag to a third party and they in turn ship them off to customers. However, I didn't find that out until after I purchased the coins. Which brings me to my first set of questions...

Do most "non-collectors" realize that these coins are shipped in bags to a third party then rolled? As I'm sure I'm not the only one to assume this either, why doesn't the mint disclose this information on their web site? I personally feel it's misleading.

Ok, getting to my next questions. I can't remember which roll (P or D), but one of them had black specs all over the obverse of every coin. I heard about the early Sacagaweas having this problem, but didn't realize it continues to happen. They look terrible and have really disappointed me. Each roll cost $10 above face value...

Now, why am I paying a premium for bagged, un-circulated (a.k.a. mint) rolls that are covered with un-removable black specs? Have I just learned a lesson the hard way?

Please share your knowledge and experiences with the US Mint. Thanks!

 

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I've seen no difference in quality from rolls of these purchased directly from the mint and those shipped to and rolled by Harrison and Co. (2000 dated) I guess even the mint would have to put them in some type of bin or bag before rolling them. So all of their premium must be for the wrapper but I still fail to see how the mint can charge such a premium for "our" circulating coinages. They should have already made their profit from seignourige (or however the heck you spell it).

 

I think the mint should sell at face value. JMO

David

 

Exactly. If I pay a premium for an item, I would expect it to stand out from the rest in some way or another. I mean, I can just go to the bank (when the mint releases the new rolls) and pay face value for "uncirculated" rolls that are probably the same quality.

Anyway, does anyone know about the black specs? Is that normal for the P or D mints regarding the Sacagawea Dollar? If it's not normal, can I return them?

 

Well fella's, the U.S. Mint is the largest coin dealer in the world. While I do not care for this, it is something that I have to deal with like the rest. They should be limited to selling Mint and Proof sets, but who am I to argue with the U.S. Mint?
The fact that I pay for Halves and Dollars that are no more special than any run of the mill coin is a case in the Mint going awry.

 

i don't know about the specs but, if you bought them from the mint you can return them.i've done this many times with mint products that had flaws.you can have them replaced or get a refund.

 

Well, I've slapped my hand and I won't let it happen again. From now on I will only buy mint and proof sets.

But I do have one more question. Since the rolls I received are supposed to be business struck coins in a "mint" state (which were unsatisfactory due to the black specs in my opinion), then does that mean the annual mint sets can/do have the same flaws as coins found in mint rolls? I would like to assume the mint set coins are not placed into any bag or large container, but for instance, would the Sacagawea have the same black specs? Do mint set coins typically show bag marks?

So many questions, so little time...

...but I vow to overcome this ignorance one way or another

 

Mint sets are made with specially prepared dies and are not dropped into hoppers like circulating coins. While they will suffer from stains do to the wash that the planchets receive, they are a better quality.

 

The mint supplies these rolls as a service for those who don't have access to banks that are cooperative. Many people have just walked in to a bank and asked for brand new coins and frequently it is much more difficult than this. With the efficiency of large organizations and government it's really pretty surprising they aren't a lot more expensive. It would be nice to see them expand this service to include the cents and dimes.

Eventually there is likely to be a variety or high grade coin which is only available from this source but it probably hasn't happened yet. Your odds of getting some variety or scarce high grade coin is likely just as good at the local bank too.

 

I guess I should start to build a relationship with the bank tellers then. Wow, I can't even remember the last time I stepped into a bank...Darn ATM machines.

(Watch the profanity please)

ND

 

I for one hope that the Mint does not offer more coins than they already do. They began the Nickel and Cent variety pack this year. While this set does show the differences between circulation quality and mint set quality, it is beyond their scope. The Mint makes a profit selling at face value. Why charge several times face for coins that general commerce doesn't want.
Currently the law states that they must make halves and dollars even though the banks do not want these coins. So we collectors and dealers have to suffer for the mistakes of the leaders who write these laws.

 

I think you made the correction while I was editing it. I changed it to "curse" those machines, but it didn't go through. Oh well, I tried.

 

Not a problem

 

Where are these available at?

 

http://www.usmint.gov

 

I checked they online sales section with attention to Special Collectibles and Annual Coin Sets, but did not see this set.

Am I missing it somewhere?

 

Here is the link:

http://catalog.usmint.gov/wcs/wcs_c...Category;+nextCategory;+prevCategory;,00.html

Lincoln and Jefferson sets are under special collectibles.

 

ND,

I may have misunderstood you. I was looking for a set with a Cent and a Nickel together in one package, showing a circulated quality coin and a mint set quality coin.

 

Thanks GD, but I saw that link posted in another section of this site. Unfortunately, I didn't find it until after I made my purchases a few weeks ago. Thanks for looking out for me