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 Replies: 45 / Views: 6,635 |
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Pillar of the Community
United States
7037 Posts |
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Valued Member
299 Posts |
I'm so happy about it that I didn't buy any.
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Valued Member
United States
425 Posts |
I am glad I bought two Silver Proof Sets for 2020 under open enrollment for $61.25 each. Now they are $105. Time to question whether I get the ones for 2021 and beyond. Time will tell. I look forward to the 2020 Mayflower 1/4 ounce $10 gold piece, but not to hearing the price.
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Pillar of the Community
United States
781 Posts |
I recently wanted to purchase my very first silver Eagle, and naturally went to the Mint's website first. Buy from the horse's mouth, so to speak. When I saw their prices, I almost fell off my chair. Silver was at about $24 that day, so why would I want to pay $67-$73 for one coin, PLUS shipping, tax, etc?
Perhaps I was just naive and don't understand coin collecting protocols yet, but when I purchase stamps from the USPS, I don't pay a premium for any of them! Face value is face value.
Can they get away with high prices for things like silver and gold coins because they are not actually "currency"?
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Bedrock of the Community
 United States
12839 Posts |
Quote:
Can they get away with high prices for things like silver and gold coins because they are not actually "currency"? Many of the silver products produced by the U.S. Mint are currency (or rather, legal tender). Not that you'd ever spend an ASE for its $1 face value. A lot more goes into collectible products than circulating products. More work, higher quality, packaging, marketing, etc. Current prices indeed seem high especially if you look back 5 years and compare, but take a look at the precious metals products from other mints around the world and you might change your tune. Edited by CelticKnot
11/18/2020 4:55 pm
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Pillar of the Community
United States
781 Posts |
I have questions that I am typing up regarding my very first $1 Eagle, so I will save them for now!
:-)
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Bedrock of the Community
United States
12839 Posts |
We'll be happy to weigh in once you have them compiled.  |
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Moderator
 United States
188660 Posts |
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I have questions that I am typing up regarding my very first $1 Eagle, so I will save them for now! Quote:
We'll be happy to weigh in once you have them compiled.  |
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Moderator
United States
54282 Posts |
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The first objective is to ensure that the numismatic portfolio (all product lines together) be self-sufficient and cover all associated costs. Get rid of money losing cents and nickels, and they could possibly LOWER other mint product costs. Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Moderator
United States
188660 Posts |
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Get rid of money losing cents and nickels, and they could possibly LOWER other mint product costs.  |
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Pillar of the Community
United States
4592 Posts |
Probably not. They seem to put a lot of the fixed costs on the back of the commemorative coins, the cent and the nickel. It makes the other programs look better, not sure how honest it is...
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
2622 Posts |
I think the problem is the lack of transparency from the Mint. We know the costs to produce circulating coins, but not the costs to produce numismatic products. So there's no way to know if there's a legitimate justification for three price increases this year alone.  |
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Pillar of the Community
United States
7276 Posts |
While I don't like the price increases, it didn't seem to lower the demand. So the mint will keep on doing these price increases. I've stopped a few of my enrollments and have been buying more on the secondary market. But I'm not going to stop getting the "limited" edition items. One of the few items that have a short term upside.
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Pillar of the Community
United States
1913 Posts |
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A lot more goes into collectible products than circulating products. More work, higher quality, packaging, marketing, etc. More goes in to the collectible products, but not that much more. The mint is operating in a monopolistic environment. They have absolutely no incentive to improve the efficiency of their operations or keep costs under control. In fact, inflated costs can be used to justify higher prices. To top it off, the lack of competition allows the mint to take whatever profit margin they choose. Unlike other monopolies, think utilities and such, the mint does not have 3rd party oversight that they have to justify rate increases to. I think the mint should have such oversight and that 3rd party should be able to decline their price increases. |
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Pillar of the Community
United States
587 Posts |
I need to buy a silver proof set for a gift. Should I buy one from the mint at the increased price, or go look for cheaper elsewhere? Anyone think these prices will drop back to their original prices in the future?
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Replies: 45 / Views: 6,635 |
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Posted 10/17/2020 02:29 am
