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Replies: 79 / Views: 12,815 |
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Pillar of the Community
United States
1254 Posts |
I ordered a couple of sets two days ago hoping to get lucky and maybe score one, but now that the mint knows, they have contacted the distribution center in Indiana and put a halt to sales. This is what I was afraid was going to happen if the mint found out. Now more than likely I don't have a chance at receiving one. It still says " In stock and reserved " on my account. I bet they would have shipped them already if there wasn't an issue. Looks like I am going to miss out. At least my niece is pregnant, so some lucky child will be receiving a birth set in November :)
Hey Timer.........can you post a picture of the silver half next to 2012 clad half so we can see the difference? BTW....great find, just wish the mint didn't find out until next week.
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Valued Member
 United States
129 Posts |
I am traveling today but will get a picture up of a 2012 clad vs silver ASAP. It really was a thrill finding the first one of these...I had no idea it was such a big deal at first...until I got a call from Coin World. And just think...the first mention of it was right here on CCF!
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Pillar of the Community
United States
3546 Posts |
I guess going forward one should initially contemplate the feasibility of having a near 20,000 strong CCF membership evaluate an issue such as this. If the primary goal was to accumulate as many of these silver error sets as possible for resale before the entire world found out, a respected local coin dealer may have been a more prudent choice to begin the process of authentication. If the goal was to prevent the US Mint from loosing money as a result of poor their QC procedures, the buyer did the correct move. Does one think that the US Mint could ever go bankrupt over something like this? I am still up in the air insofar as to what I personally would have done.  I just know several charitable organizations that would love to have received one of these silver error sets as a donation. This issue is really a tough call. mdpmedia
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Pillar of the Community
United States
1254 Posts |
I'm curious as to what the mint will do now as far as how do they determine which sets have silver and which do not. Will the distributors have to send all of the sets back to the mint? If they don't how else will they tell if the halves are silver or not? Maybe they will just do an eye test and the ones that look silver get sent back to the mint? I don't think they can break any of these sets apart to check. What do you guys think is happening right now at the distribution centers? I tried to cancel my order but they said it was too late. They said I have 7 days to send them back. So I guess I can at least look at them to see if they appear silver or not before I send them back. I am not expecting to receive any silver at this point.
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Pillar of the Community
United States
2295 Posts |
Quote: Does one think that the US Mint could ever go bankrupt over something like this? It can't be that huge, plus they make a profit on many other things to cover their loses. Just goes to show how poorly organized they are. Each year it is always some major issue. Their management and quality control is still very poor and has been that way for decades. They are a monopoly and are self funded, but if they ever came into a year of loses, I would think they can get money from the General Fund of the Treasury. And look through the previous pages and you'll see photos of both coins.
Edited by wquinn 03/30/2012 1:26 pm
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Pillar of the Community
United States
2168 Posts |
Just wondering if anything like this has happened before with mint products. I'm not talking strike errors but a similar problem with an incorrect item. Just wondering. A friend has a few silver quarter sets. Not sure if he took them all out to check for silver or clad!
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Bedrock of the Community
United States
14454 Posts |
at the price this set is selling at even if there is not supposed to be a silver half in there and every set did have one, they would still make money on the set, so this one coin in this set will definitely not "bankrupt" the mint. This type of mistake could cut into the profits from the set but the price of the set is enough to cover a silver half if every set that was ordered contained one
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Valued Member
 United States
129 Posts |
Here's the pictures requested of the clad -vs- silver sets. NGC has will certify with a special label indicating that they are from the 2012 Birth Year Set. They will also give them a designation of "Early Releases" or "First Releases" if they arrive at NGC for certification before the deadline which has not yet been determined.   I have put a couple complete silver sets up on ebay ... the others I will be sending to NGC for certification. http://www.ebay.com/itm/2012-Birth-...em4ab60cc8abhttp://www.ebay.com/itm/Two-2012-Bi...em4ab615ee3eThe Coin World article documenting this Mint error is in the April 16th issue. Already out on the online version if you have a subscription. Should be in the stores later this week.
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Pillar of the Community
United States
3283 Posts |
Curious to see where these silver sets go as far as value is concerned
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Valued Member
United States
404 Posts |
Congrats on getting $132, I'm just confused as to why so much...
The coin itself is not an error, they just spent $132 to have the coin earlier than others?
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Pillar of the Community
United States
2168 Posts |
My guess for the high cost is people WANT one for the fact that although not an error coin nevertheless a Mint error in the inclusion in a set they did not belong in
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Pillar of the Community
United States
1770 Posts |
congrats if you can actually get that much money for a regular 2012 silver half! theres nothing rare or valuable about it
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Pillar of the Community
United States
2168 Posts |
It has to do with the fact an error occurred not the silver value
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Pillar of the Community
United States
1770 Posts |
still theres no actual error with the coin except the wrong same coin clad/silver I just dont see the hype
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Pillar of the Community
United States
2168 Posts |
People often want an error item that's all it is about
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Replies: 79 / Views: 12,815 |