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 Replies: 27 / Views: 4,465 |
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Pillar of the Community
United States
1189 Posts |
So from 1964 to 2005 mint set sales were over 1 million every year but two (97- 950k, 2004 - 842k). In many of these years mintage was over 2 million! After 2010 sales drop dramatically with recent sales at an all time low!
2006 847,361
2007 895,628
2008 745,464
2009 784,614
2010 583,897
2011 533,529
2012 392,224
2013 376,844
2014 345,813
From over 2 million down to the 300k range? What happened? Is interest completely gone in these? Will the 2012-2014 become a key date someday or do you see sales continuing to drop or stay under 400k? I just found it shocking how much sales have fallen especially in recent years.
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Valued Member
United States
269 Posts |
Mint sets used to contain just 10 coins and cost a few dollars. Now they contain more than 25 coins and cost over $25... that may be a factor.
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Pillar of the Community
United States
7618 Posts |
People are are little bit slow in figuring out these sets aren't worth what they are being sold for. Rarely now does a mint issued product hold it's value...especially stuff that has ZERO precious metal content along with high mintages.
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Pillar of the Community
United States
797 Posts |
I would think it would be related to the number of coins and the price of the sets. I think in years past people would buy those sets and enjoy collecting them or buy them as simple gifts for hobbyists or kids or whatever, but as more and more coins were added and the prices kept going up, it wasn't as feasible to collect them for many people.
I bought mint sets from the past going back to the 1960s all the way through the more modern sets but I stopped when the price jumped up because it wasn't worth it to me to pay the increased prices just to have the set. I do buy some occasionally to split up and put in albums but overall I don't collect the mint sets anymore.
Edited by spaceace
07/29/2016 2:41 pm
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Bedrock of the Community
United States
11951 Posts |
I too think it has been price, that has caused the drop in sales. Multiple Washington quarters and small dollars caused the price of mint sets to climb to high. I wonder if there will be a good price drop now that the presidential dollar series is over. |
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Pillar of the Community
United States
4085 Posts |
The State Quarter series ended in 2008 and the prices went up. People probably bought in 2009 to get the special copper Lincoln Cents but the territory and ATB Quarters don't have the same following and the Presedential Dollars never really caught on like the State Quarters did. |
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CCF Advertiser
United States
1533 Posts |
$350,000 is still a high mintage. It is likely they will be available for much less than the mint price at a coin show any time in the future.
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Valued Member
 United States
397 Posts |
Are those numbers for all types of mint sets combined (uncirculated, proof, and silver)? I agree with others that price is an issue. But it may also be that the mint is offering so many different types of products these days that it is affecting the number of mint sets being sold. People will vote with their hard earned dollars on what is desirable. The fact that many mint sets are available today at prices less than the mint price may also be affecting purchase decisions.
Edited by 88isgreat
07/30/2016 9:57 pm
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Pillar of the Community
United States
613 Posts |
Over-engineered packaging and too much of a premium. I understand the mint has to be self-funding, but there's nothing affordable for the new or young collector, driving them away from the hobby. While many keep mint sets intact as part of their collection, many are also purchased to be split up into albums and displays. This entry-level product does not need to be in a Fort Knox of packaging with fancy graphics and text. Simple cello envelopes are an accessible way to get this most basic starter coin set. If not selling it as a loss-leader (at or below cost), sell it with the smallest premium of all mint products to bring in new customers for the other products.
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Bedrock of the Community
United Kingdom
17930 Posts |
It's much the same in the UK. When annual mint sets started in 1982, they were in a simple card holder, but now they are in quite a large pack. Of course the face value has also increased dramatically with the proliferation of commemorative 50 pence, one, two and five pound coins! As for Royal Mint proof sets, these used to be in a nice standard size plastic case inside a card outer sleeve, but they are now quite bulky. |
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Formerly nancyc
Australia
5385 Posts |
Quote:
Mint sets used to contain just 10 coins and cost a few dollars. Now they contain more than 25 coins and cost over $25... that may be a factor. Hmmm... That's approx $1 per Coin! That's a pretty good buy considering here in Australia, the Unc yearly sets contain just 6 coins and cost $25 plus $10 postage. You guys are getting off cheap and your coins are in waaaay better condition. life is a mystery to be lived not a problem to be solved
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Bedrock of the Community
United States
20753 Posts |
I USED to buy many sets from the Mint for Christmas Presents. I did that for a long, long time. HOWEVER, lately most of the people I gave them to told me to stop since they have lost interest in those. I too have lost interest in them and only wanted them for breaking out what I need for Albums. Now I find I can just get what I need at a coin show and not have to have lots of stuff left over I don't need or want.
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Pillar of the Community
United States
952 Posts |
you may also have the fact that new coins are highly produced and often saved now which makes it almost impossible that one will ever break even on their investment. The mint is ruining the hobby IMO as they are practically running dealers out of business with all this stuff they are producing. The only time the new stuff gets interesting is when you see errors such as the Wisconsin quarters, etc.
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Valued Member
United States
180 Posts |
I would also suggest that in addition to cost simple demographics are also in play. We lose more and more of our seniors/baby boomers everyday and the younger generation has constantly shown no interest in their parents or grandparents hobbies.
I shouldn't say all young people, but enough to cause concerns for several recreational industries, civic groups, and hobby associations.
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Pillar of the Community
United States
613 Posts |
I still say more coin, less packaging
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Bedrock of the Community
United States
10038 Posts |
Agreed with everyone here the price is not worth it. To me the only set worth getting nowadays is the silver proof set.
Back when I was a kid, the prices on mint sets, etc. were considered a little high, but not bad. Now everything from the mint seems overpriced and with a lot more hype. The coins in most of these sets will only lose value anyway as time passes.
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Replies: 27 / Views: 4,465 |
Posted 07/29/2016 11:46 am
