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Who's Buying 2020 Mint Sets?

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Pillar of the Community
United States
937 Posts
 Posted 11/30/2020  09:35 am Show Profile   Bookmark this topic Add Ballyhoo to your friends list Get a Link to this Message
With the recent fiasco brought on by low mintage high demand, I had debated on buying anything again on the initial release date. At noon today, the uncirculated annual set becomes available, which I will be ordering sometime well after the opening bell. Even though the mint, for the first time in my mind, has a limited production number for a mint set. 213,000 to be exact. Which I applaud the mint on since this seems to be in line with production totals over the past few years. While, yes, it was set because of the COVID matter reeking havoc on the facilities, they did not just pull the number out of thin air. So that begs the question, have they finally realized how important supply and demand is for ANY business?

Anyhow, apologies for the rant, over the years each time a collector has issues with ordering the United States Mint loses future buyers out of frustration. However, the first time buyers more or less balance the scales. That said, for the past twenty some years the sale of annual sets has been declining, as evident by the final production figures. As one who is passionate about coinage, these are the things I ponder on and research for answers. So, and I'll also add to the apology such a winded post, are you buying this years uncirculated set?
Thanks for reading!
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Valued Member
United States
79 Posts
 Posted 11/30/2020  09:39 am  Show Profile   Bookmark this reply Add EDM to your friends list Get a Link to this Reply
Yes. I have a standing order and my mint sets are already shipped.
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United States
2115 Posts
 Posted 11/30/2020  09:56 am  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply
My subscription order was confirmed over the weekend and is on the way.
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94325 Posts
 Posted 11/30/2020  10:04 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Mine was confirmed in the wee hours Sunday and my card has been charged.

I just got a marketing email from the Mint. This was at the bottom.


Quote:
Note: Due to the effects of COVID-19 at our manufacturing facilities, this year's set has a limited production quantity of 213,000. For the same reason, there will be no free premium nickel accompanying this set. Please be sure to order early, as supplies are limited - we have 137,000 fewer than last year.
Yeah, already knew about the W nickel and still bummed over it.
Pillar of the Community
United States
1654 Posts
 Posted 11/30/2020  10:21 am  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
I'm going to get five because I get two every year for myself and one for each of my children. That said, I think the 2020 mint sets are terrible from a value standpoint. Several years ago when the Presidential dollars were still included, the price to face value ratio was pretty good. For example, 2015 included 28 coins with a total face value of $13.82 for a price of $28.95. That's a 2.09 ratio. 2016 included 26 coins with a total face value of $11.82 for a price of $26.95. That's a 2.28 ratio. With the price increase this year and no Presidential dollars, the price to face value ratio is 4.38 (25.25/5.82), which is the worst it has ever been. If a bonus coin had been included it would be easier to stomach, but that didn't happen. The 213k product limit is the saving grace, but not enough to make up for the terrible price to face value ratio. The 2018 mint set was $21.95 and had a total production of 257,531. The 2019 mint set also $21.95 and currently has a production of 342,924. However, that included the bonus cent which no doubt encouraged purchases from people who would have otherwise not have. I think the high price to face value ration of the 2020 set is enough to discourage many people from even seeking the sets as they won't see the value. They'll just get individual coins out of rolls from dealers.

I understand that the mint had problems due to Covid-19 and the resulting 213k limit. However, I do not think the mint should be limiting the production of mint and proof sets going forward. I do think that the price increases are unwarranted. The mint has raised prices when sales are dropping. Hopefully, we'll have a new mint director who will lower prices in order to encourage more purchases.
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United States
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 Posted 11/30/2020  11:09 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
With the price increase this year and no Presidential dollars, the price to face value ratio is 4.38 (25.25/5.82), which is the worst it has ever been. If a bonus coin had been included it would be easier to stomach, but that didn't happen.
Preach!


Quote:
I do think that the price increases are unwarranted.


Yet buying one I still am.
Pillar of the Community
United States
5063 Posts
 Posted 11/30/2020  11:22 am  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
Last one I bought was in 1985.
I can now buy those cheaper than their original issue price.

That's why I no longer buy them -- or anything else from the Mint.
Describe it as if there were no picture.
Picture it as if there were no description.
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 Posted 11/30/2020  11:32 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I started buying them because I am finding less and less in change (my not getting a lot of change is the problem here), but I was getting them at coin shows until the mint threw the W cents at us last year. There being no coins shows was a good reason to keep it going this year, with or without the W nickel.
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United States
147 Posts
 Posted 11/30/2020  11:35 am  Show Profile   Bookmark this reply Add psuman08 to your friends list Get a Link to this Reply

Quote:
Hopefully, we'll have a new mint director who will lower prices in order to encourage more purchases.



Not at all the direction of the mint.
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United States
621 Posts
 Posted 11/30/2020  12:09 pm  Show Profile   Bookmark this reply Add Bud250r to your friends list Get a Link to this Reply
I got five. I will crack out one for my albums and two for the grandsons.
And the other two I'm hoping for something like 2012.
Pillar of the Community
United States
1654 Posts
 Posted 11/30/2020  12:13 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
psuman08, What's wrong with a little wishful thinking? I've got more where that came from. Perhaps next year the mint will send out 2021-W unc nickels to everyone that orders a 2020 mint set.

I ordered my sets. There were no issues with the website. It will be interesting to see how long they're available.

BTW, not that I want to contradict myself, but take a look at the 2018 mint sets on eBay. They're going from the mid $20's to the low $30's delivered. In theory, this set should do better. In theory, it should also do better than the 2012 mint set. However, the price of that set doesn't make sense anyway.
Edited by Bret
11/30/2020 12:15 pm
Pillar of the Community
United States
1265 Posts
 Posted 11/30/2020  1:05 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
I ordered one set. I would have ordered more had they included the nickel, but since it's not included, I don't see the point, as that would be the only reason to get more than one set in my opinion.
Valued Member
United States
154 Posts
 Posted 11/30/2020  1:31 pm  Show Profile   Bookmark this reply Add Erscolo to your friends list Get a Link to this Reply
My order for two sets is currently processing.

I have no interest in bullion or gold items so the recent feeding frenzy was nothing but a read on greed to me. These days I get my entertainment wherever I can find it.
Edited by Erscolo
11/30/2020 1:36 pm
New Member
United States
20 Posts
 Posted 11/30/2020  1:46 pm  Show Profile   Bookmark this reply Add scott7721 to your friends list Get a Link to this Reply
I attempted to order for about 20 minutes, but finally gave up after a number of consecutive attempts. Later, I got three emails from the Mint: First, that my order was being processed; second, that the Mint could not fulfill my order; and third, that my purchase was confirmed. Great, except I never actually got to view an acceptance on my screen despite multiple attempts.
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United States
656 Posts
 Posted 11/30/2020  3:27 pm  Show Profile   Bookmark this reply Add RPT to your friends list Get a Link to this Reply
I bought three. I open two to update albums. Wish they included the Innovation Dollars.

Not sure why but the PayPal option was unavailable again.
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94325 Posts
 Posted 11/30/2020  4:00 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Perhaps next year the mint will send out 2021-W unc nickels to everyone that orders a 2020 mint set.



Quote:
I attempted to order for about 20 minutes ... I never actually got to view an acceptance on my screen despite multiple attempts.
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