Why is the Mint punishing the collector with an 800% mark up on a product they are distributing through the Federal Reserve at face value? Is this how they support their loyal customers in the wake of recent fiasco with the UHR? Even the 2003 - 2006 nickel rolls they offered were $4.00 face for $8.95, so why the huge increase?
Why is it not ok for the mint to sell their products and make some money, but it is ok for mint customers to buy them and make triple amounts of money on them. dah
“Why is it not ok for the mint to sell their products and make some money, but it is ok for mint customers to buy them and make triple amounts of money on them. dah”
Because the Mint is not a private business, it’s a government owned and operated. Some of us still pay taxes for these services. If a fool wants to pay more on e-bay, instead of buying direct, that sounds like their problem. These same cents go to the Federal Reserve at face value, nothing special done to them other than a paper wrapper. I Don’t mind them covering their costs, but $1 for $8.9 for us and $1 for $1 for the banks, for the same thing! Must be the new math. dah
You still did not answer my question about people making triple the money when they sell their coins they have bought from the mint. Look at the Ultra High Double Eagles. No one should have them but the customers of the mint but there is HSN selling them for $2,999.99 and then lying that the mint is not making them anymore. Or it takes to long to get them. I could wait 2 months before I would spend an additional $1,800. Have you ever sold coins for more than you paid for them at the mint? Look around you its the American way. Everyone is making something off of somebody. Like I said don’t buy from them buy from the dealers. Then you won’t have anything to bitch at. I am sure they would not miss you. Who do you think get the money that is made by the mint and what is it used for? dah
There is no control over what “people” are willing to pay or accept payment for. There are coins out there that can be had for less than what the Mint sold them for (the 1982 Washington Commem half, comes to mind, and they were not for circulation). When the billions of 2000 circulated cents, like the ones the mint is selling, make there way to the streets, the people that bought them for $8.95 (or higher somewhere else) will either hold them, or sell them at a loss. I have no problem with collectors that want them, just for their collection. I have no problem with the flippers that sell them for much more than they will be worth generations from now. I don’t even have a problem with the people that buy them third-party because they foolishly believe they have something valuable. I DO have a problem with the Mint, subsidized by taxpayer dollars, selling the exact same product it ships to the Federal Reserve for face value, to the public. Hell, even the 2 roll nickle sets were $8.95, at least you got $4.00 face value in coins. The mint was going to make these cents anyway, they are not proof, have a special finish, nothing, except the paper wrapper to distinguish them from what you will get in your pocket change.
You want me to answer your question about third party profits, when that is not even my concern, it’s yours. I told you what I think about that, but it has no bearing on what the Mint does or should charge. I pay a premium for proofs or low mintage uncirculated coins, not for common strikes. Do you go to your bank, ask for two rolls of cents and say no wait I’ll give you $8.95 for them? I can’t explain it anymore clearly than that. If your happy paying more, great for you, I’m not and don’t really care to go round and round about it. I can care less what HSN sells for, I don’t buy from them. And no I’ve never sold a coin for more than I paid from the mint…I’m what is known as a collector…not a dealer, not a flipper. If I ever do sell, it will be based on rarity and condition, and I won’t be selling what the Mint is currently making for your pocket change expecting a profit. If this thread weren’t so old I’m sure other would agree.
March 13th, 2009 at 3:37 pm
Just placed my order and product already on back order. Will ship on the 20th, according to website.
March 13th, 2009 at 7:12 pm
Why is the Mint punishing the collector with an 800% mark up on a product they are distributing through the Federal Reserve at face value? Is this how they support their loyal customers in the wake of recent fiasco with the UHR? Even the 2003 - 2006 nickel rolls they offered were $4.00 face for $8.95, so why the huge increase?
March 14th, 2009 at 7:27 pm
What happened to the 90% copper special edition rolls? and why are these rolls so freaking expensive. The mint is just plain ripping people off
March 14th, 2009 at 7:38 pm
The Mint is releasing the 95% copper versions later in the year. Apparantly inside the annual coin set(s).
May 28th, 2009 at 6:26 pm
Why is it not ok for the mint to sell their products and make some money, but it is ok for mint customers to buy them and make triple amounts of money on them. dah
May 29th, 2009 at 1:56 pm
“Why is it not ok for the mint to sell their products and make some money, but it is ok for mint customers to buy them and make triple amounts of money on them. dah”
Because the Mint is not a private business, it’s a government owned and operated. Some of us still pay taxes for these services. If a fool wants to pay more on e-bay, instead of buying direct, that sounds like their problem. These same cents go to the Federal Reserve at face value, nothing special done to them other than a paper wrapper. I Don’t mind them covering their costs, but $1 for $8.9 for us and $1 for $1 for the banks, for the same thing! Must be the new math. dah
May 29th, 2009 at 4:55 pm
You still did not answer my question about people making triple the money when they sell their coins they have bought from the mint. Look at the Ultra High Double Eagles. No one should have them but the customers of the mint but there is HSN selling them for $2,999.99 and then lying that the mint is not making them anymore. Or it takes to long to get them. I could wait 2 months before I would spend an additional $1,800. Have you ever sold coins for more than you paid for them at the mint? Look around you its the American way. Everyone is making something off of somebody. Like I said don’t buy from them buy from the dealers. Then you won’t have anything to bitch at. I am sure they would not miss you. Who do you think get the money that is made by the mint and what is it used for? dah
May 30th, 2009 at 12:09 pm
There is no control over what “people” are willing to pay or accept payment for. There are coins out there that can be had for less than what the Mint sold them for (the 1982 Washington Commem half, comes to mind, and they were not for circulation). When the billions of 2000 circulated cents, like the ones the mint is selling, make there way to the streets, the people that bought them for $8.95 (or higher somewhere else) will either hold them, or sell them at a loss. I have no problem with collectors that want them, just for their collection. I have no problem with the flippers that sell them for much more than they will be worth generations from now. I don’t even have a problem with the people that buy them third-party because they foolishly believe they have something valuable. I DO have a problem with the Mint, subsidized by taxpayer dollars, selling the exact same product it ships to the Federal Reserve for face value, to the public. Hell, even the 2 roll nickle sets were $8.95, at least you got $4.00 face value in coins. The mint was going to make these cents anyway, they are not proof, have a special finish, nothing, except the paper wrapper to distinguish them from what you will get in your pocket change.
You want me to answer your question about third party profits, when that is not even my concern, it’s yours. I told you what I think about that, but it has no bearing on what the Mint does or should charge. I pay a premium for proofs or low mintage uncirculated coins, not for common strikes. Do you go to your bank, ask for two rolls of cents and say no wait I’ll give you $8.95 for them? I can’t explain it anymore clearly than that. If your happy paying more, great for you, I’m not and don’t really care to go round and round about it. I can care less what HSN sells for, I don’t buy from them. And no I’ve never sold a coin for more than I paid from the mint…I’m what is known as a collector…not a dealer, not a flipper. If I ever do sell, it will be based on rarity and condition, and I won’t be selling what the Mint is currently making for your pocket change expecting a profit. If this thread weren’t so old I’m sure other would agree.