US Mint Too Expensive - Coin Community Forum

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Author	Replies: 10 / Views: 3,316
TheForce Pillar of the Community United States 4867 Posts	Posted 04/14/2006 7:03 pm Maybe it's just plain ol' me but I think rolled and bagged coinage from the mint are a waste of money. The coins aren't of any higher quality than that of you'd receive at your bank. Sure they are in nice packages rolls but that in itself to me isn't worth the premium you pay. David Report this Post to the Staff

djluster Pillar of the Community United States 1327 Posts	Posted 04/14/2006 7:16 pm I agree with you they are prices, but I have to thought on the issue. 1st If you buy them this way you usaully get them before most banks also you get both mint at once. so people just can't wait a month tell there bank gets them. 2nd if you are buy the rolls as an investment and not planing on opening them to make up little sets then I feel you would want to get them as mint rolls since they seem to sell a little higher on the after market. 3rd People are either to lazy to ask there banker or do not what to count on there bank to get them. just my opion thought on why so many people buy the mint rolls. But this is coming from someone who doesn't buy mint rolls from the mint so I am sure you will get a different opion from the ones who do buy direct from the mint Report this Post to the Staff
toast Pillar of the Community Australia 1091 Posts	Posted 04/14/2006 7:36 pm Be careful what you wish for. In Australia the mint doesn't roll their coins any more, the coins are put in bags. You get a lot more scratches in a bag. And they stopped selling to the public. Many collectors wanted newly minted coins and lobbied the Mint for years. Finally, the Royal Australian Mint came out with this. 5 cent - In bags of 2000 -(face value $100)- Cost $154 plus postage 10 cent - In bags of 1000 -(face value $100)- Cost $154 plus postage 20 cent - In bags of 500 -(face value $100)- Cost $154 plus postage 50 cent - In bags of 400 -(face value $200)- Cost $308 plus postage 1 Dollar- In bags of 500 -(face value $500)- Cost $777 plus postage 2 Dollar- In bags of 1000 -(face value $2,000)Cost $3,080 plus postage [:0] Also, you can't buy small amounts and the premium is 40% above face value of the coins and then Taxed 10% on top of the new value. I totally agree with you that buying coins from the mint is not worth the premium. Compare, buying one roll in the USA of 25 dollars for $35.50 to buying one bag of 500 dollars for $777.00 in Australia. I get the impression they don't want to be bothered selling these coins. Edited by toast 04/14/2006 7:45 pm Report this Post to the Staff
scoutjim99 Pillar of the Community United States 4589 Posts	Posted 04/14/2006 7:55 pm i hate to agree with ya but you are right Report this Post to the Staff
gxseries Pillar of the Community Australia 3831 Posts	Posted 04/14/2006 10:31 pm Indeed, mint packed Australian coins are quite expensive, and the mints here know how to make excellent money. My partial coin collection http://www.omnicoin.com/collection/gxseries My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month. Report this Post to the Staff
TheForce Pillar of the Community United States 4867 Posts	Posted 04/15/2006 4:58 pm I don't think the mint should act as a coin dealer. Report this Post to the Staff
Gary Burke Rest in Peace United States 3730 Posts	Posted 04/15/2006 5:47 pm Mint prices, like many things, continue to rise. Remember when cost for mint products were a fraction of what they are today, and shipping was free? Report this Post to the Staff
Metalman Pillar of the Community United States 7123 Posts	Posted 04/15/2006 5:51 pm Problem with buying the circulation coins from the mint is ummm we already paid for them once !!! Its our money !!! should be face plus a minimal shipping amount !! Rick Report this Post to the Staff
CoinNut5 Valued Member United States 103 Posts	Posted 04/15/2006 8:18 pm I dont mind paying a small premium over the cost of the coins to insure that I am able to receive the items I am wanting to purchase, What I dislike is paying that premium and then getting coins that look like they have been swept up from the mint floor along with a ton of grease and dirt.......quality should go without saying in purchases over and above what is paid by banks for everyday strikes........send them the dirty,greasy leftovers and save the first strikes for collectors.!!!!! Report this Post to the Staff
BigMo New Member United States 8 Posts	Posted 04/16/2006 12:07 am I very,very much agree with you CoinNut. Tony Report this Post to the Staff
amac44 Member United States 3242 Posts	Posted 04/19/2006 9:37 pm But if you buy 100s of sets or rolls,ect they give you it first and like us who dont get that many at 1 time you wait to the cows come home!!! Report this Post to the Staff
	Replies: 10 / Views: 3,316

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