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 Replies: 753 / Views: 59,683 |
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New Member
United States
47 Posts |
I wouldn't be surprised if a lot of these sets are returned to the mint after the wholesalers have trolled through the hundreds of sets they purchased and cherry picked out the ones they think will grade 70. Generously supposing 100K of these sets went to collectors with no interest in reselling, that would leave 125K sitting in dealer inventory. There is a cost to having money tied up in inventory. That is precious working capital, and it could be years before, or if ever, new collectors come into the market and create the demand for those sets. They have to have a plan for dumping the sets. Maybe they do the quick flip on ebay like a hot potato and sell in bulk and pass the risk to another smaller wholesaler; or they return the non perfect ones to the mint in the next few weeks. |
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Pillar of the Community
United States
4901 Posts |
OK...only my thoughts but: A HH limit of 5 would have been fine. It would have crashed the website as has happened in the past but it would have been a different complaint and not "discrimination" (even though the dealers would still get all they want anyway) It is a pretty simple fact that dealers (of any product) do NOT pay the same and have the same restrictions as Joe Normal. They do and will always get preference in MANY things because they do a huge business with the seller. Do you think a dealer pays the same to have coins graded as you and I? No way... It's like those with the "Black?Platinum special" credit card getting all sorts of perks on a flight that economy flyers do not. Guess we should sue the airlines for discrimination there also. What would you say if the Mint ONLY sold to dealers and left Joe Normal out of the picture totally? Now that would really upset some people....TOTAL discrimination...lawyer up! Oh wait....the DO only sell bullion coins to dealers. I should add that I have NEVER been unable to order a new sellout coin/set from the Mint that I tried to order. I make the effort to get it at noon and that's that. Not 12:10, 12;20, the next day......12 noon..and it works Kinda harsh but life sometimes is Quote:
What happened today (and many times before) is called a free market. Supply & demand determine the price - in very simple terms that is. I will always remember this pic of a dude with his crapload of 2010 ATB bullion sets. HH limit was ONE SET at around $900...I got my one..he got a few more than one  |
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Valued Member
United States
274 Posts |
I'm with CLS12 on this one. I think there will be a lot of hype initially, due to the quick sellout at the Mint, but then the big dealers' inventories will begin to flow into the market, demand will start to soften as collectors get all that they want, and prices will come down.
I'm no expert, but it seems like 225k is a pretty big number for there to be a supply shortage, once the market dynamics around these stabilize a little.
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Pillar of the Community
United States
666 Posts |
Quote:
What happened today (and many times before) is called a free market. Quote:
free market - noun - an economic system in which prices are determined by unrestricted competition between privately owned businesses. Since, as you noted, the U.S. Mint has zero competition, it is not a free market. Mark P.S. Definition of free market is from: https://www.google.com/search?q="free+market"Edited by dd27
08/01/2017 3:10 pm
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Pillar of the Community
United States
703 Posts |
According to a mint representative, the set is NOT completely sold out. This is a message I just received:
"Unfortunately, the 225th Anniversary Enhanced Uncirculated Coin Set is currently unavailable. This product is not sold out. There is no inventory available. Please CLICK HERE to sign up for a reminder email. I apologize for any inconvenience this may cause."
Edited by ElonU
08/01/2017 3:15 pm
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Moderator
 United States
189053 Posts |
Quote:
According to a mint representative, the set is NOT completely sold out. This is a message I just received:
"Unfortunately, the 225th Anniversary Enhanced Uncirculated Coin Set is currently unavailable. This product is not sold out. There is no inventory available. Please CLICK HERE to sign up for a reminder email. I apologize for any inconvenience this may cause." Seems it is as I suspected back on page 10. They just depleted the ready-to-ship inventory. They will assemble more sets and it will be back to available in the morning. Maybe. |
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Pillar of the Community
United States
4901 Posts |
Normally it is not declared "sold out" until all credit cards are verified, all orders are shipped and returns are received and documented. It also can change if the four external sites did not sell their quantity. It will remain "Currently Unavailable" until then.
Backorder status is when they are awaiting the production of more sets...but....they HAVE used Currently available for BOTH situations in the past so who knows
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Moderator
United States
189053 Posts |
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Backorder status is when they are awaiting the production of more sets...but....they HAVE used Currently available for BOTH situations in the past so who knows Ah. I forgot about backorder status. |
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Pillar of the Community
United States
1026 Posts |
Regarding the "free market" - I was referring to the aftermath, not the US Mint.
And regarding the "currently unavailable", this simply means they need to process all orders and some may be cancelled due to credit card issues, cancellations. Plus, there will be returns.
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Pillar of the Community
United States
666 Posts |
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Regarding the "free market" - I was referring to the aftermath, not the US Mint. Ah, I would agree then - at that point it is a free market. |
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Pillar of the Community
United States
1255 Posts |
So looking at the mintage for these coins, aren't these the lowest non proof Lincoln Penny, the lowest minted Jefferson nickle (except for the 1997 Matte @ 25K), the lowest minted Roosevelt dime (except for the proof March of Dimes set 75K), and the lowest non proof Washington quarter? Is that correct? Why did people not think this would be a quick Sell Out? Some people were thinking weeks or years on this set. I figured under 60 minutes to unavailable status and it was a lot quicker than what I thought. There may be some sets that become available, but when they do they will be scooped right up. |
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Pillar of the Community
Canada
1528 Posts |
My order confirmed at 12:01pm. I didn't lose out on this like I did on the congratulations set earlier in the year. :)
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Pillar of the Community
United States
666 Posts |
Wide range of BIN (Buy It Now) prices on ebay for the Anniversary Set - from $49.49 for one set, to a set of 10 for $1100 = $110 each, with the median somewhere around $60 per set (guesstimate). (Free shipping seems to be the norm.) Or in ROI (Return On Investment) terms, profit margins will probably average around 50%, factoring in the cost of postage, ebay & PayPal fees, & labor (rough estimate). So I can see why this is a good thing for dealers. I don't blame them by the way. Given the current U.S. Mint policies, it simply makes good business sense for them to buy as many as they can afford. I would do the same thing if I owned a coin shop. My beef is with the U.S. Mint, but you all have persuaded me that there is little if any impetus for the Mint to change their ways. |
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CCF Master Historian of USA Commemoratives
United States
12286 Posts |
Quote:So looking at the mintage for these coins, aren't these the lowest non-proof Lincoln cents, the lowest-minted Jefferson nickels (except for the 1997 Matte @ 25K). The 1994 Thomas Jefferson Coin & Currency Set also included a matte finish Jefferson nickel. Its mintage was 167,703 - a larger mintage than for the nickel in the Botanic Garden C&C Set but still less than the number in the new Enhanced Uncirculated Sets. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
United States
4901 Posts |
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I didn't lose out on this like I did on the congratulations set earlier in the year. :) Nice  |
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Replies: 753 / Views: 59,683 |
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Posted 08/01/2017 3:04 pm
