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Pillar of the Community
United States
1685 Posts
 Posted 04/19/2021  1:59 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
Gosh, remember back in early 2012 when everybody 'passed' on buying the Silver Proof Set directly from the Mint because we could "always buy it cheaper in the secondary market"?

That's not what happened. The mint cut off sales early leaving December Christmas buyers like myself out of luck.
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 Posted 04/19/2021  3:28 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply

Quote:
People will always buy STUFF advertised on TV.


True. MANY people make no attempt to get these items from the Mint. They continue to buy them from their "connection" whoever that may be. I'm in the camp that says buy it at original price or do without. But, that's just how I roll. Anybody want to buy a 2019S RP OGP ASE?...

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 Posted 04/19/2021  6:05 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
First, thanks for moving this to the appropriate page. I thought wrong in posting. That said, collectors will always buy from the mint, myself included. Only at a much reduced rate. The point is, those who scam the system to gain a huge profit are the ones that need taught a lesson. Stopping them will not happen, I'm a realist, yet as collectors if we slow the sale then we lower the price. Any business will only sell based on supply and demand. So that should be the smart collector's target. As I stated, I really, really want a WWII ASE and the Mayflower issues, but not any time soon as the prices are excessive to say the least. Ten years from now? Twenty?
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1990 Posts
 Posted 04/19/2021  7:23 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
In many ways, an argument could be made that the 1921 PDS Morgans weren't struck for circulation, either. They were Pittman Act re-coining strikes, were made from completely new dies, and most languished in bags for decades. The ones that hit the banks rarely circulated.*

An argument could also be made that the 2006 Old San Francisco Mint commemorative dollar is at least a half-member of the Morgan collection, with the basic Morgan reverse design struck from yet another completely new die.

The 2021 Morgans with the privy marks seem more like the 2006 Old San Francisco Mint commemorative and less like the 1921 PDS strikes. The non-Privy-mark 2021 Morgans seem somewhere in between. They will resemble the 1921 Morgans by being struck on yet one more completely new set of dies.

IMHO, the Morgan set could be considered as ending in 1904, 1921, or 2021 (2006 would be a hard sell).


*For that matter, the classic Morgans were struck to subsidize the Comstock Mine, and were wildly unpopular in commerce in most parts of the country. It isn't entirely a reach to argue that most of them functioned closer to NCLT than circulating coinage.

Just a few thoughts from the curmudgeon's corner.
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United States
1685 Posts
 Posted 04/19/2021  8:17 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
I'm a realist, yet as collectors if we slow the sale then we lower the price. Any business will only sell based on supply and demand.

As a realist you have to know that it does not work this way for a governmental monopoly. Those running the "business" are not rewarded based on typical performance factors such as sales, increasing the customer base, quality, etc. If they were, there would have been multiple house cleanings at the mint over the years. They are not serving the owners (us).
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 Posted 04/22/2021  12:29 pm  Show Profile   Bookmark this reply Add msl2196 to your friends list Get a Link to this Reply
I know it's an unpopular opinion here, but personally, as a collector/investor, I'm quite happy that there's so much interest in our hobby now that prices are being driven up.

I may only be able to get one or two of the six, but being able to buy a coin at $85 and have a piece for my collection that will immediately go up in value to $300/$400ish (and probably hold a fairly similar value in the long run) is really not that bad of a deal, as far as I'm concerned. It's a reward for people who pay close attention to this stuff.

For me, it's not about getting ALL of the coins in a set--but rather, buying things that I find interesting, some rarities, and some things that I think will go up in value. If it were up to me, the Mint would have added a household limit of 1, but lower the mintage of each to 100,000.
Valued Member
United States
85 Posts
 Posted 04/22/2021  12:35 pm  Show Profile   Bookmark this reply Add msl2196 to your friends list Get a Link to this Reply
Also, out of curiosity, does anyone here actually have a complete set of Morgans that will be made incomplete by these new items?
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 Posted 04/22/2021  2:10 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
but being able to buy a coin at $85 and have a piece for my collection that will immediately go up in value to $300/$400ish (and probably hold a fairly similar value in the long run) is really not that bad of a deal,

"Being able to buy" is the key. Many people who have been loyal mint collectors and have to that point had complete or near complete coins in a series have been beat out on the mint's website by flippers who have never bought the first coin in the series and don't care about our hobby at all, save for how much money they can make off of us. Historic purchasers should be given first shot at purchasing.
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 Posted 04/22/2021  3:01 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
"Being able to buy" is the key... Historic purchasers should be given first shot at purchasing.
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252 Posts
 Posted 04/22/2021  5:29 pm  Show Profile   Bookmark this reply Add MisterT to your friends list Get a Link to this Reply
JimBucks, Somebody forget to take their anti snarky medication today?
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 Posted 04/22/2021  5:43 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply

Quote:
Historic purchasers should be given first shot at purchasing.


I also agree. If that practice was enacted the prices on the secondary market would probably fall, too. Question is how do we separate the bulk, flipper previous purchasers from the general collector previous purchasers from the series-specific previous purchasers...

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