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 Replies: 1,095 / Views: 81,206 |
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Pillar of the Community
United States
1913 Posts |
When someone gets another to make a straw purchase for them, they've crossed the line from a fair and free market to profiteering. All the collectors will not get coins because of this profiteering. If one has someone make a straw purchase for them to get past the household order limit, then yes he is being unethical. It doesn't matter that one is making no money and the coins will go to fellow collectors. I have three children that I purchase coins for. I'd like them to have one of each, but it's just not going to happen this time. The bottom line here is that the mint sets the order limits based on whatever sort of logic they use in order to provide fair and equitable distribution to collectors. As ethical people, we have to go by the letter and spirit of the rules.
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Pillar of the Community
United States
1770 Posts |
meh 50K sort of a bummer but its still going sell out really quick
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Pillar of the Community
United States
2077 Posts |
Someone once told me that FAIR is where you ride rides and eat cotton candy.
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Pillar of the Community
United States
4901 Posts |
Quote:
meh 50K sort of a bummer That would be the next (Kennedy) set not this one...17k here ..and re: MCM and Quote:
They are profiteering at the expense of collectors. Maybe you missed the point that these poor victim collectors are choosing to make an immediate 100% on their purchase... I do not see why the ethics board here got involved...the collectors get their coins and then sell them to MCM. Would it be any different if they chose to sell them to someone else? Don't like it? Don't participate.... Hint: If MCM is offering 100% right up front methinks they believe they will make money on that price so seller beware  Edited by Foxwoods Man
07/31/2015 07:11 am
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Pillar of the Community
United States
1913 Posts |
Quote:
Maybe you missed the point that these poor victim collectors are choosing to make an immediate 100% on their purchase...
I do not see why the ethics board here got involved...the collectors get their coins and then sell them to MCM. Would it be any different if they chose to sell them to someone else? The victims (if you want to use that term) of the profiteering are actual collectors. The majority of those participating in the scheme are not and wouldn't have purchased the coins if not offered the incentive to make money off of actual collectors. If there was no household limit in place, one or a few large dealers would end up buying all of the coins and selling them for whatever the market would bear. It would be much easier for the mint to process one or just a few wire transfers, make bulk shipments and be done with it. Perhaps you would be happy with that? The US Mint is not a private company. The fact is that we as US citizens own the US Mint. They establish limits in order to ensure fair and equitable distribution of the products produced to the owners and prevent profiteering. The limits are not set in order to allow 3rd parties who are not interested in collecting the particular coins to cash in at the expense of actual collectors who can't be waiting for a product to go on sale at high noon. Those who violate the limits do so at the expense of others. Quote:
Don't like it? Don't participate.... I don't, but then again I'm not one of those people who cuts in front of others in line if given the opportunity. And, if someone does cut in line in front of me, then they're going to hear my take on their actions. The bottom line is that some live by the golden rule (do unto others as you would have them do unto you) and some live at the expense of others. |
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New Member
United States
23 Posts |
On another forum their are members offering to buy sealed sets of the IKE's already for $150.00 a unit, so a 2 unit sealed box would be a quick $300.00 not like the offer from MCM.
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Moderator
 United States
190135 Posts |
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I want more than 2, not to flip but to give 5 to family (7yo brother, nieces & nephews) and keep 5 to go with my trumans. Would you consider that as being unethical? No, because technically they are buying their sets with your money.  The shill thing is going to happen. Dealers are going to break/bend the Mint's rules. I do not have to like it, but I do not believe they are breaking any laws and the ethics are probably even debatable. My personal choice is to just not buy from those dealers, a vote with my wallet. Others will disagree and as along as they do, the practice will continue. |
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Valued Member
United States
156 Posts |
I am gonna try to get two as I have always been a fan of IKE.
It will be my first purchase direct from the mint.
Any advice for a first time direct from mint purchaser?
Edited by jay799
07/31/2015 11:33 am
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Moderator
United States
190135 Posts |
Make sure you US mint website account is created and configured in advance.
Make sure billing and shipping information are correct and that the shipping address (if different) is authorized on your payment card.
If you are up to the task and to get a feel for the process, do a dry run with another product. Cancel before you complete it.
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Pillar of the Community
United States
1913 Posts |
1) Create an account. 2) Enter your credit card information. 3) If there are other items you're going to purchase, go ahead and get them in your cart. 3) At 2 minutes until noon, bring up the webpage for the Ike dollar. Keep hitting F5 (refresh) until the "remind" button changes to "add". Enter two. 4) Go through the checkout process as fast as you can. 5) If something doesn't work, then just keep repeating the process until your order goes through. BTW, yesterday I was able to add the gold $100 high relief and get checked out in 20 seconds. |
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Valued Member
United States
75 Posts |
I completely agree that it is unfortunate to the collectors who do not have the opportunity to buy a set from the mint, as a result of the "profiteering" of some dealers. However, I do not think it is fair to say that they are completely at fault. As previously said, they are doing nothing illegal, and are being supported by many collectors, and non collectors who want to make a quick buck.
Furthermore, try to realize that even if there were no such dealers "buying" mass amounts, sellouts would still happen, and if all of the sets were in the hands of true collectors, there would be no sets even for sale to the collectors who got shut out.
Obviously, this would not be the case as many collectors purchase the full household limit (many purchasing more), intending to resell one or more sets.
While it is unfortunate for those who don't get a set "because of such dealers", those of us that do get sets, and do resell one or more, end up coming out ahead largely in part of these dealers. Without such dealers, it is unlikely prices would get as high as they do.
"I either want less corruption, or more opportunities to participate in it."
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Valued Member
United States
156 Posts |
Thank you for the advice Bret and Jbuck.
I created the account last night. I figured that would help out. The dry run idea is a good one. I will do that this weekend.
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Pillar of the Community
United States
4901 Posts |
Quote:
On another forum their are members offering to buy sealed sets of the IKE's already for $150.00 a unit, so a 2 unit sealed box would be a quick $300.00 not like the offer from MCM. ..and that is OK? |
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New Member
United States
23 Posts |
Oh course it's not a good price. These are worth a bit more than just $150.00 a piece. I was mearly stating that there are others out there that are already offering more than MCM.
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Pillar of the Community
United States
4901 Posts |
Sorry...I was wondering if the ethics police would approve...
Is price the main factor in making it acceptable? MCM seems to be on the crap list for making an offering to buy...
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Replies: 1,095 / Views: 81,206 |
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Posted 07/30/2015 5:27 pm
