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 Replies: 274 / Views: 18,745 |
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Pillar of the Community
United States
2147 Posts |
I'm really not a fan of the Mint's recent obsession with privy marks.  It's too gimmicky. They're essentially creating an intentional variety with artificial scarcity. |
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Pillar of the Community
United States
4951 Posts |
CB, You have a Point. Remember when We had a Known mintage and We ALL were challenged in Obtaining a New Release from the Mints.. While Very Frustrating Events they were, We knew what We were in for... Now-A-Days the Mints do Pre Sales ordering, !!!!!!!!!  No More  Low Mintage Releases, They Mint and Release to Orders, Great concept as a Business, Terrible for Coin Collectors and True Rarity's. ....... |
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Pillar of the Community
United States
7057 Posts |
I'm really tempted to order one and return it if it doesn't have the Privy mark.
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Pillar of the Community
 United States
1375 Posts |
hfjacinto wrote: Quote:
I'm really tempted to order one and return it if it doesn't have the Privy mark. The Mint will probably be less inclined to provide free return shipping knowing that thousands of collectors will be doing exactly that. . .and that's fine with me. The "gamble" then isn't the $105 issue price; instead it's the nominal cost of sending it back to Irving, TX, for the refund. The only way this doesn't work is if the Mint announces a "no returns" policy for this medal. Which seems unlikely as it would depress sales. What am I missing here ? I'd bet this same discussion is happening at other coin forums. . . Edited by cptbilly
10/01/2024 8:44 pm
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Pillar of the Community
United States
1851 Posts |
1,794 mintage with "230" privy is similar to the low mintages of Libertad Reverse Proofs which tend to increase in value.
Edited by livingwater
10/03/2024 06:38 am
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Pillar of the Community
United States
7057 Posts |
Quote:
The Mint will probably be less inclined to provide free return shipping knowing that thousands of collectors will be doing exactly that. . .and that's fine with me. The "gamble" then isn't the $105 issue price; instead it's the nominal cost of sending it back to Irving, TX, for the refund. The only way this doesn't work is if the Mint announces a "no returns" policy for this medal. Which seems unlikely as it would depress sales.
What am I missing here ? I'd bet this same discussion is happening at other coin forums. . .
I agree the cost of doing this is just the return back, but like most other US Mint medals these most likely will lose value, so what is a cheaper cost, paying return shipping or holding on to a medal that might be worth 50% in a few years. I recently was at my lCS and he had the Mustang Liberty Medal for $49, when it was released in 2022 it was $82. People purchased them, expecting to make money, but there is little secondary market so many lose value. Even the Commemoratives the ones from early 2000's are treated like bullion if you don't have the case and only a little better than bullion if you have the OGP. Taking a $105 risk for something that might be bullion in a few years is not something I want to do.
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Pillar of the Community
United States
4951 Posts |
Helder, I See Your Point, Let's just see Another View. We All Know Modern Commemoratives are a Select Group, IMO, Not as Select as The 1930's Classics, But We collect the History, Just The Same. Now IF A person were to " Invest " in a Shot at One of These, 1794 Medals, Above the Medal Value, Imagine Getting One of The Privy Marked Medals, and It was One of The Signed " 230 " by The U S Mint's Director!!!! It would have an Additional Value, Much More than an Ordinary Modern day issued Commemorative, NO  I thought about Not placing these thoughts Here, We are All Shiny Object Seekers, These Were Supposed to be a Coin, I Thought, and I Passed on these. Now the Mint has added Two Small Caveats ," 230 " Will Be Signed by The U S Mint's Director, and 1794 of the 75,000 Medals being Minted Will Have a 230-Privy Mark...Best Wishes, As for Me, Game On!!!!!!!! Edited by Morgans Dad
10/03/2024 09:16 am
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Pillar of the Community
United States
7057 Posts |
@morgan's dad,
I agree with you, these are pretty shiny objects and I had one on subscription, well until the price went to $104. If the price was in the $80's I would have happily acquired one, but I'm out at the current price.
My big issue with the current Mint Pricing is that you can buy classic coins for the same price, you want a nice Morgan or Peace you can get a classic for the $80-$90 of a new one.
I did the calculation and would you have to be pretty lucky to get one of the Privy and extremely lucky to get a signed one.
Mintage No Privy = 73,206 / 75,000 = 97.6080%
Mintage With Privy = 1,564 / 75,000 = 2.0853%
Mintage With Privy & Signed COA = 230 / 75,000 = 0.3067%
To guarantee a good chance of getting a Privy one , you would need to purchase at least 50 and there is still no guarantee you would get a privy one (the coins might not be random).
Edited by hfjacinto
10/03/2024 11:53 am
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Moderator
 United States
162716 Posts |
Ever thankful that I treat my numismatic purchase like consumables rather than investments.  |
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Pillar of the Community
United States
1375 Posts |
According to the Mint, Household order limit is one. Received an advertising email from a N.Y. state based internet retailer offering these (with a 10/21 Ship Date) for $350.00. Sounds like the order limit language on the mint's web site should be taken with a grain of salt.
Going forward, should I understand household order limits have an unstated carve out for the big dealers ?
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Moderator
United States
162716 Posts |
Quote:
According to the Mint, Household order limit is one. Good thing I only want one. Quote:
... Sounds like the order limit language on the mint's web site should be taken with a grain of salt... should I understand household order limits have an unstated carve out for the big dealers ? Nope, just dealers skirting the rules with shill buyers. Dealers like this used to solicit people to buy on their behalf. Some members have shared their recruitment emails in the past. I will try to find some old topics...
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Moderator
United States
162716 Posts |
Quote:
I will try to find some old topics... No luck yet. 
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Pillar of the Community
United States
5732 Posts |
Edit: Chances are better getting a privy mint than winning the lottery.
Edited by macmercury
10/09/2024 5:00 pm
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Moderator
United States
162716 Posts |
Quote:
Chances are better getting a privy mint than winning the lottery. 
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Pillar of the Community
United States
1375 Posts |
Quote:
Nope, just dealers skirting the rules with shill buyers. Dealers like this used to solicit people to buy on their behalf. . . Got it. Thanks.
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Replies: 274 / Views: 18,745 |
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Posted 10/01/2024 8:14 pm
