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2019 W Lincoln Cents Ordered/Shipped At Face Value

 
 
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Valued Member
United States
196 Posts
 Posted 03/15/2019  8:15 pm Show Profile   Bookmark this topic Add Ballyhoo to your friends list Get a Link to this Message
Just received my weekly issue of Coin World with an article on the cover about this huge blunder on the Mint's part. For reasons of space, I won't cover the entire piece.

On March 3 and 4, 91 people were able to order and have shipped a total 921 of the cents destined to the proof sets through an internal link within the mint meant to track the movement of said coins throughout the production process. Another 270 orders consisting of 41,509 were cancelled without shipment.

This article brings about many questions and concerns. Since these are barcoded for inclusion to a proof set, will the matching set get packaged/shipped without one? This appears to be true since I've read the comments of a few who claim to have not received one in their set. Yet this is not my greatest concern on the matter. Since these were not intended to be sold individually, was the transaction and subsequent ownership legal? To me, this seems to be another legal challenge in the making like that of the 1933 Saint Gaudens.

I wonder what the dealer who has 100 coming, each with the production envelope, will be charging on EBAY. The million dollar Lincoln

*** Moved by Staff to a more appropriate forum. ***
Bedrock of the Community
United States
11645 Posts
 Posted 03/15/2019  9:34 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Since these were not intended to be sold individually, was the transaction and subsequent ownership legal? To me, this seems to be another legal challenge in the making like that of the 1933 Saint Gaudens.


Yes it's legal the mint sold them. No this won't be a repeat of the 1933 double eagle, that was a case of protecting their legal one and people making careers out of chasing them.


Quote:
I wonder what the dealer who has 100 coming, each with the production envelope, will be charging on EBAY.


If they had them graded in the sealed box and designated as such there would be a premium
Valued Member
United States
170 Posts
 Posted 03/15/2019  10:49 pm  Show Profile   Bookmark this reply Add Lunch Money to your friends list Get a Link to this Reply
I wonder if the grading services would be able to offer a special designation. Is this a big enough event that they would have some kind of protocol to handle any submissions that they might get?
Bedrock of the Community
United States
11645 Posts
 Posted 03/15/2019  11:01 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I wonder if the grading services would be able to offer a special designation. Is this a big enough event that they would have some kind of protocol to handle any submissions that they might get?


If it was sent in the sealed mint shipped box they could if they wanted, once the box is open though there would be no way to prove those were the ones
Valued Member
United States
196 Posts
 Posted 03/16/2019  11:39 am  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
I stand behind the Double Eagle comparison. Being they were destined to remain within the mint traveling from one department to another before inclusion, at what point are they monetized? I would think at or near the final stage. Is that not their stance on the 1933's, despite a five month window of sale? Therefor, ownership would be illegal.

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United States
3241 Posts
 Posted 03/16/2019  12:13 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
There is no way to tell the ones sold individually by mistake from the ones included with the mint set, so there will likely be no premium.
Bedrock of the Community
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 Posted 03/16/2019  12:39 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
There is no way to tell the ones sold individually by mistake from the ones included with the mint set, so there will likely be no premium.


Yes there is, if they're still in the sealed mint shipping box all by them selves with the invoice they're clearly the mistakes. Once they're removed you lose the ability to tell though
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 Posted 03/16/2019  12:57 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply

Quote:
Yes there is, if they're still in the sealed mint shipping box all by them selves with the invoice they're clearly the mistakes. Once they're removed you lose the ability to tell though


The mint shipping box my proof set came in wasn't really sealed; the cardboard folds over to "seal" it but you could easily open and reclose it if you wanted. There's no tape or anything on it. So then you are just down to an invoice with maybe the right coin associated with it or maybe not.

The 1933 Saint was ordered destroyed; no one should have an example. The 2019 W was just sold alone by accident but it's legal to own one and a million+ were produced and packaged identically.

I don't see anyone paying up for these but I guess you never know.
Bedrock of the Community
United States
11645 Posts
 Posted 03/16/2019  1:09 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:

The mint shipping box my proof set came in wasn't really sealed; the cardboard folds over to "seal" it but you could easily open and reclose it if you wanted. There's no tape or anything on it. So then you are just down to an invoice with maybe the right coin associated with it or maybe not.


Obviously they're supposed to be sealed, whether or not their shipping has gotten that sloppy on everything is a different story.


Quote:
The 1933 Saint was ordered destroyed; no one should have an example. The 2019 W was just sold alone by accident but it's legal to own one and a million+ were produced and packaged identically.


Agree the cent is perfectly legal and was sold. There'd be some premium for these just like these's a premium for show releases, but by no means would be 6 or 7 figures.

There is one legal example of the 33 though that was sold to King Farouk, part of the motivation of hunting the others was protecting the value and importance of that one.
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