WOW! The Mint screwed up Big League...

Wonder how many companies have paid big bucks for 2015 sealed boxes with the now incorrect code...

http://www.coinworld.com/news/us-co...mint-information-on-2015-silver-eagles.2.html

 

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So some of the 2015 ASEs were minted in Philadelphia or San Francisco?

 

What's the big deal? They all look the same. Who cares were they came from? I certainly don't. And ounce of silver is an ounce of silver to me. Bullion is nothing more than a commodity investment.

Had it been a circulation coin I would have paid more attention.

 

Oops.

 

The big deal is that dealers and collectors alike have already paid big bucks for boxes with the codes the mint said were from Philly in 2015 and by order of a FOIA request no less. Dealers were offering $40k+ for sealed boxes with the supposed correct codes and graded 69's have been selling in the $600+ range each. I smell lawsuits coming

 

Not sure I am buying it. Sounds to me like they just decided to try and destroy the aftermarket for them for whatever reason. They'd basically have to be saying hey don't rely on our tracking info we have no clue what we are doing.

Not to mention the request was about 4 months ago, the burden was for the info to be correct then, they wouldn't still be verifying it 4 months later for coins made over a year ago.

But if you read the mints statement carefully they said some was erroneous, but not what. They also said the information was not intended to be relied on and specifically mentions the false belief they were rarities. They chose their words in an interesting way especially considering they never said x y or z was incorrect and never specifically said their tracking numbers are incorrect. Their next statement will be interesting and I will be surprised if it flat out calls all of their initial information incorrect.

 

You are missing my point. Why should people care? It is bullion silver and nothing more. It could have been made in Timbuktoo and it would still be the same. I just simply don't understand why anyone would pay a premium when the mint is not even indicated. Anyone paying $600 for an ounce of generic US Mint silver is out of their mind.

 

To you it is. To the ASE collector market it is not. If ASEs are just silver for you to stack that is fine, but the ASE collector market is very real and very active.

 

So, let me see if I understand this. The article is claiming that the Mint used an internal tracking system that might have given the authorized buyers of the boxes of these coins the impression that, for instance, in 2015 San Francisco minted X number of them, Philadelphia, X+30,000 of them and Denver X+ 60,000 of them, making the S minted ones significantly more valuable? And that now it comes to light that the numerals that appeared to represent the number of these coins struck at each mint were not the numbers people should have been using to consider the value based on number of coins minted? So people who paid 600$ per coin for one of these coins struck in San Francisco because it was thought that only X were minted there, over paid for their coin because really X+40 were minted there?
Something like that?

 

Yody flippin' Ho..........'S' less, and 'P' less coins are a ruse for rarity. Nary an legitimate collectible in my estimation.......much like dateless Buffalo Nickles.

 

Crazy stuff. This is going to hurt some folks.

 

And the 1894-S Barber dimes were pocket change and nothing more, at least to a kid who wanted ice cream.

 

Yeah it is. Await the lawsuits! Tort is in the air on this one big time

 

How so? What claim have they?

 

Against who though? Everyone acted in good faith based off of the information the mint provided and the amount is to small to be worth attempting to sue the government. If anything depending on their next statement at the end of June some people could be fired and possibly an investigation depending on how inaccurate the information was. They could end up saying more were made at Philly then initially thought based on the false sense of rarity comment

 

Barber dimes were circulating coinage. If dimes had not had a mintmark then there would be no fuss over which mint a coin came from. How about a 1966D coin? There were no mintmarks in 1966 so any claim as to which mint a coin came from is speculation and no one should care anyway as it is not a distinct coin.

As for ASEs, they are not real coins. No one would ever pay for a $1 item with one. They are bullion and nothing else. If someone wants to pay a huge premium for one ounce of silver which may or may not have been minted as a specific mint which for there is no indication on the coin then I think there has to be something wrong with them.

I've said it before and I will say it again: bullion, proofs, commemoratives are all made for the collector and are not real coinage in my opinion.

 

$600 for a graded bullion coin? Each to their own collecting interest, I suppose.

 

Blow it out of your saddlebags........

 

Class action maybe?

 

Who cares if they are real coinage. They are collectable.