US Mint Suspends Production of Numismatic Products

Discussion in 'Coin Chat' started by Randy Abercrombie, Apr 9, 2020.

  1. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    This morning I had a newsletter from the US Mint apologizing that they have to suspend numismatic products for the time being. A perfectly understandable response to the climate we are currently in...... However I have received two subsequent emails from them touting numismatic products. One for the 2020 proof set and another for the 2020 gold AGE. So which is it? Or are they attempting to pre-book orders for the future when they are able to resume numismatic products?
     
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  3. -jeffB

    -jeffB Greshams LEO Supporter

    I was confused by that email, too. I got it yesterday afternoon, and I'm ashamed to confess that my first thought was "unexpectedly low mintages! Anything I can grab before it's gone?" But I got over it before going so far as to hit the website.
     
  4. Inspector43

    Inspector43 72 Year Collector

    I got the two ads for the Proof Sets and the Gold. But , I didn't get one for the suspension. I have basically stopped buying from the US Mint anyway. They put out so much junk that I can't keep up with anymore. I try to keep abreast of the primary circulation stuff only.
     
  5. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    Conserve cash; they don't deserve your business anyway.
     
  6. Mountain Man

    Mountain Man Well-Known Member

    I tend to think they minted and stock piled sets before the virus and now see value in selling them. JMHO.
     
  7. Collecting Nut

    Collecting Nut Borderline Hoarder

    Sales are probably down due to the number of unemployment claims.
     
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  8. baseball21

    baseball21 Well-Known Member

    Probably an autodraft email that just didn't get canceled though they probably do already have inventory for some stuff they'd like to keep selling.

    I'd image they are for sure as a good percentage of their sales are for bigger buyers to send in bulk submissions which obviously aren't really happening
     
  9. LakeEffect

    LakeEffect Average Circulated

    Obviously they're thinning the workforce as they should in these times. It will slow production but I doubt it affects the end numbers at all.
     
  10. Conder101

    Conder101 Numismatist

    Nah, You're welcome to go ahead and order, we'll get around to making them later when this virus thing is over. Until them we can just wait.
     
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  11. ernie11

    ernie11 Member

    From what I've read, the 2020-S silver proof sets are already made and are waiting at their Memphis fulfillment center for ordering. It's just that the closing of the SF mint probably means the Mint won't have the option to go back and make more.
     
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  12. LakeEffect

    LakeEffect Average Circulated

    ^^This^^
     
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  13. Dougmeister

    Dougmeister Well-Known Member

    Thank goodness. Maybe they'll lay off the people coming up with these weak designs.
     
  14. UncleScroge

    UncleScroge Active Member

    I received similar emails, but one of them was touting "The iconic 2020 American Buffalo One Ounce Gold Proof Coin". I'm sure their sales are down right now.
     
  15. PassthePuck

    PassthePuck Active Member

    Does this mean that regular business strikes might be halted or reduced in production?
     
  16. ernie11

    ernie11 Member

    If you mean coins for circulation, I believe they are continuing those.
     
  17. Phil Ham

    Phil Ham Hamster

    Even before COVID-19, the mint was having some issues. Hopefully, COVID ends soon and the mint gets their act together.
     
  18. Conder101

    Conder101 Numismatist

    If the economy keeps slowing their would be a reduced demand for coins which could result in lower production. Recessions, and depressions often result in lower mintages. Even so those "low" mintages would still be high enough that the coins would actually still be common. Case in point the recession of 2008/9 that affected the mintages of the coins for 2009.
    cents
    2008 5.3 billion
    2009 2.3 billion (with only 129 million LP4 P cemts)
    2010 3.9 billion

    Nickels
    2008 625 million
    2009 86 million
    2010 489 million

    Dimes
    2008 1.1 billion
    2009 145 million
    2010 1.1 billion

    Quarters
    2008 2.4 billion
    2009 632 million
    2010 342 million (quarters didn't really start recovering until 2012)
     
    Last edited: Apr 13, 2020
  19. UncleScroge

    UncleScroge Active Member

    Never heard of ressions, did you mean: recessions?
     
  20. Conder101

    Conder101 Numismatist

    Corected it when I added the mintages. Oddly spellcheck didn't flag it as being incorrect.
     
  21. UncleScroge

    UncleScroge Active Member

    Always do a self-proofread, we all make mistakes, and we're much better than spellcheck! I think you also meant corrected and cents, not corected and cemts. (We love your information and detail!)
     
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