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2005 Westward Journey Stuff On Sale Again

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biokemist6's Avatar
United States
12437 Posts
 Posted 07/25/2006  1:06 pm Show Profile   Bookmark this topic Add biokemist6 to your friends list Get a Link to this Message Number of Subscribers
Due to an error in the original legislative bill authorizing the Westward Journey series, all sales had to stop Dec 31, 2005. The problem was that the US Mint still had stocks of those coins. An addendum was added to the San Fran Commem bill to allow the sales of Westward Journey coins to continue until stocks are exausted.

As of today, the 2005 silver proof set, 2005 Westward Journey nickel set, nickel rolls and bags, etc. are back on sale for a limited time at www.usmint.gov
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Metalman's Avatar
United States
7123 Posts
 Posted 07/25/2006  2:47 pm  Show Profile   Bookmark this reply Add Metalman to your friends list Get a Link to this Reply
Im really not buying the mistake thing on this !! I think the Mint got stuck with a large amount of these coins !!

But I guess if someone missed out and wanted them its a good thing,,

The Mintage numbers of these Nickels is huge !!

Rick
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United States
604 Posts
 Posted 07/25/2006  2:51 pm  Show Profile   Bookmark this reply Add Buffaloboy5 to your friends list Get a Link to this Reply
I think they were holding the coins on purpose because they knew people liked these coins so much that they would buy crazy agian like me
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Bryan1315's Avatar
United States
14454 Posts
 Posted 07/25/2006  3:17 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I agree they got stuck holding a boat load of these and are now trying to get rid of all their stock they had left over. I am sure they will sell pretty good though because everyone was buying and selling them for a nice premium on ebay, this sell actually has made buyers and sellers alike mad because of this also. The people that bought them for a premium are now thinking this move by the mint made their purchases stupid and the people that had these in stock and was waiting to sell them for a larger premium are now stuck holding the bag because their prices has just plummited as of 12:00 today
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biokemist6's Avatar
United States
12437 Posts
 Posted 07/25/2006  3:43 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
I tend to think of it as more of a congressional mistake than anything. Since Congress is the only governmental body that can authorize the issuance of US coinage, they have to create a legislative bill to make a new coin program. When the original legislation was written a few years back, it had a stipulation that all sales had to cease as of Dec 31, 2005. IMO that was an inherent flaw of the program. The Mint had three choices in this situation:

(1) reduce the mintage of the 2005 coins and hope you can meet demand
(2) destroy all remaining stocks of coins
(3) get Congress to change or amend the legislation

An addendum was added to the legislation that authorized the San Fransisco commemoratives. This allowed the Mint to sell remaining stocks legally.

I dont really feel sorry for people that bought a bunch of this stuff to try and make a profit. It was apparent (to me, at least) that most of the products weren't sold out at the end of last year and that meant that they would go on sale again as soon as it was congressionally approved. I was pretty darn sure that the Mint wasn't just going to destroy all of these collector issued coins. Why would they destroy something that they could still make money from sales?

Anyone remember the 1999 proof SBAs that were on sale until 2003 or the fact that the Mint still has 2001 Kennedy half rolls and bags for sale?
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Tpatna's Avatar
United States
1626 Posts
 Posted 08/02/2006  10:29 am  Show Profile   Bookmark this reply Add Tpatna to your friends list Get a Link to this Reply
Question: Whats the chances of finding the "Speared Buffalo" if you purchase the rolls or bags from the mint? Do you think there are more to be found? I was thinking of buying a bag of 1000 nickels (Buffalo 2005 D) from the mint.

Tim
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