Comments on: US Mint Sales: WWI Medals, Silver Eagles and Boys Town Coins Decline

By: PA in Oregon

PA in Oregon — Wed, 14 Feb 2018 19:57:24 +0000

I was a US mint customer for many years, though was very selective about what I would purchase. I have decided to stop buying new US mint products. They have gotten so far inflated above the spot prices and the mint keeps coming out with so many different products, flooding the market. Plus the fact that with rare exceptions of a high demand product with low mintage (which is becoming less and less likely over time), or if the metal prices increase substantially, you wind up with something worth less than what you paid for, even 10-20 years down the road. It overall seems like a poor investment, and doesn’t make sense unless you are collecting mainly for the pleasure of having pretty coins that you enjoy. If it hadn’t been for the rising price of gold over the past 10 years or so, I would have had a substantial net loss over that period of time, since most US Mint coins devalue, in the long run, to just above their spot metal price.

By: Mouse

Mouse — Sat, 10 Feb 2018 01:18:42 +0000

Greetings Old Collector and Chuck –

I am in agreement with you both and sadly I am seeing our mints “killing off old collectors”.My family and I are avid numismatists. My father has taught me many valuable lessons along the way about collecting and when to move my focus to other mints and products (numismatic coins vrs bullion coins). Mints seem to be designing a lot of their products to cater to a new and younger market that sadly in my opinion does not exist yet. When modern coins become minted in mass / value of a trinket / my father has taught me to collect pieces of history / north American coins of investment grade and quality. Helps me to remain focused and wait out the poor in the moment decisions from our mints. I am passing down the knowledge to my boy as he will inherit both my parents and my collection to add to his own someday. It is a funny thing as some of the coins in my collection my pop has said “what were you thinking”, and I have said the same to my boy lol. Eye of the beholder, and my boy has lots of time on his side lol

Happy collecting my friends, and always pass down your knowledge.

Mouse

By: chuck

chuck — Fri, 09 Feb 2018 23:29:17 +0000

Old Collector,
Likely greed too. What they fail to take into account is they have been “killing off collectors” for years. Their “Golden Goose” will soon be gone but doubt they will lose their job, over that, so just more taxes for us to support them.

By: Mouse

Mouse — Fri, 09 Feb 2018 22:50:57 +0000

As a Canadian and avid numismatist / bullion stacker, I am no stranger to inflated premiums on proof coins. My Royal Canadian Mint has had inflated premiums on proof coins for years. As a result, I have shifted my focus to purchasing US mint products (numismatic and bullion) as well as international mint products.

When I factor in any conversion rate from the US to Canadian dollar, I’m still getting a deal. I will always have love for my mint, but at the end of the day, competition in the market is just that. My personal finances / responsibility to provide for my family / and coin collection comes before my loyalty to my mint. If they continue to not follow market trends or cater to their loyal patrons than there sales will continue to drop. The RCM has been losing money for years / the only thing keeping it afloat is their circulating coin and bullion manufacturing departments. Both our mints (US mint / RCM) have a country wide monopoly and I cannot see that ever changing nor should it / we just need a more focused leadership team that truly understands the consumer and produces quality product at a lower / fair price point. Its not about quantity, its about quality and fair pricing for the working class.

Mouse

By: chuck

chuck — Fri, 09 Feb 2018 22:26:11 +0000

Agree about silver. The mint must not consider silver to be a precious metal (just the prices they charge are precious).
Also, if you look at their “Numismatic Precious Metal Products: Sales” the most current year they list is 2012. Perhaps, they are using a silver price from “back in the day” too when silver was more than twice its current price. Would the IRS let us wait over 5 years to update (file) our taxes?

By: Tinto

Tinto — Fri, 09 Feb 2018 19:50:36 +0000

With the Mint merrily messing up the regular collector for years, is it any wonder their sales are down .. the big buyers are probably qualified to buy a lot of the “numismatic” Mint stuff at a discount so they might not pay attention to the content of silver .. only that they can foist it ultimately on the regular collector who might not have a clue about the Mint not upping the silver content .. but sooner or later at least some will know and they will cut off their Mint purchases in protest ..

By: Chas Barber

Chas Barber — Fri, 09 Feb 2018 19:03:35 +0000

The Mint is out of touch on silver pricing, raising it as it remains rangebound @ 16-17.75 for a couple YEARS! The designs are awful this year, the WW1 coin is odd, eyes close, left handed charge, with the artist’s own nose (!)……..whatever The Breast Cancer is a great idea, but who is the target audience, collectors or cancer survivors, etc. As with the Lions Club, BT, & other ‘charity’ issues the leg$ for the issue may be wobbly @ best inthe long run.

By: Cincinnatus

Cincinnatus — Fri, 09 Feb 2018 15:35:21 +0000

The commemorative sales are anemic at best. Bad designs and extremely over priced coins aren’t going to help. They are charging 3 times the spot price for a coin that in the secondary market will be considered bullion.

The military coins always do well and I was shocked the CCAC and CFA actually approved the WWI design.

For the around the same price of the Uncir. and Proof coins – I can get a nice 1919-D MS-63 Lincoln cent. Modern coins – for the most part are not worth it.

By: Seth Riesling

Seth Riesling — Fri, 09 Feb 2018 05:45:08 +0000

Old Collector –

You must have read my post here the other day on this same subject. You got it right! That is exactly what the U.S. Mint has been doing for years! They are engaged in deceptive trade practices with their silver coin & medal products due to no pricing grid for silver products. And since they are a 100% U.S. Government monopoly, nothing happens unless Congress under their Constitutional control of all coinage matters tells the Mint to make this situation fair for all customers.

-NumisdudeTX