US Mint Gouges Collectors

I don't believe it's as much the glut of offerings as it is just the extreme premiums that get charged at first. Even when most of them lose say half their value they still have a pretty healthy premium.

A lot of things they sell they're basically trying to get something like a 100 CAD an ounce for silver. I know they're numismatic, but very few things can sustain those types of premiums for a raw ungraded thing over time. The foreign mints are also known for giving discounts and private contracts ect to big purchasers so you can see a big seller selling under issue price immediately and be making a profit.




They'd either reject it or if they were smart they'd realize it's worth much more than the $25 face value and accept it. But the crown countries things don't necessarily have legal tender status even if its on the coin. Look up the $20 for $20 stuff

If the coin sells for $2,500 (or whatever), and a month later it's selling (and being bought) on ebay for 3X as much, have they really been gouged. In the scenario I originally described, I think the coin would sell out in about 2 minutes and be going for 2 to 3 times the initial offering price by the end of the day. You have a unique coin, with a very limited population, in a very popular series. I'd try to buy one.

No way would I consider it. It would probably rot away after a few years and leave me with a "lovely leatherette presentation box" with a lovely green and black stain that I paid $2500 for.

There are some that are calling for a return to the gold standard but I certainly wouldn't bet on it.

Let's all remember that this is completely discretionary spending with (what one hopes is) disposable income. And when you compare the U.S. Mint's prices to that of the RCM or other world mints (as mentioned above), we have it pretty good.

I'm not a big fan of some of the U.S. Mint's practices but at the end of the day they are a business that is expected to make money. Successful businesses that want to stay in business don't make arbitrary decisions to try to stick it to their customers. They do analysis to see what the market will bear. Sometimes they get it right, sometimes they get it wrong.

Bottom line, if you don't like the products or practices, express your opinion with your wallet and don't buy. A lot of you here seem to have gone that way which is fine and your prerogative (hey, it's your money). I like many of the mint's products and will continue to purchase those I like and can afford.

I tend to agree with Celtic Knot. Anything other than circulating currency or bullion is beauty in the eye of the beholder. I have personally only bought such things to fill spaces in a Dansco 7070. If I wanted to buy more gold, I would finish out the gold page of my 7070. If I wanted to buy more silver, I would start a new collection (Mercury dimes, SLQs, Walking halves, or Peace dollars).

The bottom line for me is this: If the US Mint released something that is prohibitively expensive then the two most likely scenarios are:
1) It's an error - and I don't collect errors
2) It's not available to the public at large - and I don't collect those either.

Truth.


Because you would loose that bet.

Look up how much gold exists it the world.

Now look up the total value of the broad money supply.

Do the math.

Enjoy that trip down the rabbit hole.

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Oddly enough I like reading this annual report from the mint.

We all know that the cent and nickel are money-losers for the U.S. Mint. But according to the report you cited, seignorage from circulating coins makes up 93% of the Mint's 2017 profit. Clearly gains from quarters and dimes far outweigh the losses from cents and nickels.

Don't get me wrong, I would LOVE for the mint to cease production of the cent and nickel. But there are politics and other market forces afoot here, I'm afraid.