Wild, Wild, Wild Mess at the US Mint- November 5th, 2020
The fiasco wheel rolls again.
Ladies and gentlemen, what will go down at usmint.gov on November 5 of this year will go down as one of the wildest fandangos that the US Mint has artificially created. Yes. The American Silver and Gold Eagle, fit with a "V75" privy mark. Other than that, there is nothing special about the duo of coins. But, the wild thing is, what on Earth is the US Mint doing.
After last years fiasco wheel with the Enhanced Silver Eagle, CoinWorld stated that many US Mint patrons considered cancelling their subscription services after the sale ended in 15 minutes, with very few people getting their hands on one of the 30,000 coins pushed out. Many people felt that the Mint was treating dealers with "Special Treatment", giving them first dibs at the coins. While these rumors have not been proved, many people felt this way because of the way the website ran- crashes were common, and this got many people mad. After the sale ended, people turned to the dealers on eBay and other sites, such as the TV Infomercial HSN, who was selling the coin for the grand total of $8999.95, declaring themselves "the only place were you can get this coin" when guys on eBay sold it for about 75% less than what HSN.
I feel that this is going to be replicated this year. With the "V75" coins, the fiasco wheel will rotate again. And with the gold's mintage of 1500, the demand will be even crazier. However, the silver's mintage has been doubled to accommodate for the anticipated surge in buyers.
I predict bad things to happen. The site will crash, and the gold will sell out before you are even able to click on the mouse.
It will be the "Black Friday" Doorbuster, except this time, the item is not a 80 inch-plasma TV with 4K ablities.
I think that it is time to stop this.
David Ryder, you are hurting the hobby.
Not to mention the "W" uncirculated nickel will not be included with the Mint Set this year because they won't be able to strike enough (or something like that). We waited all this time. Now you don't commit with the nickel.
What has happened?!
Link to the video= https://www.youtube.com/watch?v=N5IeIha4NIM
Thanks. See ya'll later. FUBAR at the mint.
Comments
Long Beard
Level 5
First, I'm going to be online at 12:00 to order one for myself. So on that I'll keep you posted. Now, a quick look on EBAY and these are already pre-sale between $800 and $1250 with bids for the silver. Gold, under $10,000. So the real question becomes, why does EBAY as a company allow for this to happen? Especially with bidders involved hoping to get one. Not this guy.
coinfodder
Level 5
Presalers. Do they even know if they will even get one? I dunno. I guess they bribe their little network of friends to buy them one with the promise of getting payed back.
Kepi
Level 6
Same ol' song...If your lucky enough to get one Great! Most will go to large coin companies so they can over-charge and make huge profits... My opinion ; )
Longstrider
Level 6
Now Now. We must all give the mint a chance. I can't believe all the negative energy here. NOT REALLY! It will be a regular Cluster f.... Snafu all the way. What a shame.
I. R. Bama
Level 5
I get that this to some large degree funds business strikes, out this is not only price gouging and a disservice to the Numismatic community. They could at least strike enough to make it more affordable for the collector.
It's Mokie
Level 6
As my Dad used to say, it is going to be a total SNAFU (situation Normal All Effed Up).
coinfodder
Level 5
What about FUBAR?
Mike
Level 7
No nickels with the Uncirirculaded set. So the three nickel set is now a two coin set. I sent a message and asked if they ran out of plastic bags. They do have dealer contracts. . Don't know how they read but they get a % of every special coin. Thanks for the info.
Stumpy
Level 5
For over a year we've been promised these "extra W mint coinage" and now with the last set, they don't produce, rest assured that the establishment of the price for this set was considering the extra "W" Nickel. The amount is not much but they are not offering to reduce the price now that it's not included. I can live without the "W" Nickel, it's the way it's been handled that wears on me like a bad pair of underwear. As for the 75th ASE, I will try to get one and if I don't, I can assure you I will not be trying to purchase one from a Third Party Seller. I just am confused that at a time that the U.S. Mint should be riding a selling product like a madman, they keep repeating mistakes they've made before in the last 12 months by severely limiting production of a much anticipated coin. Mr. Ryder needs to consider the decreased sales, lack of confidence of the public and declining membership currently effecting the United States Mint and "Wake up and smell the Coffee". But I doubt this will happen. I am really trying not to be soo negative, but every time I turn around the mint is making poor decisions. Thanks for the informative blog coinfodder. Maybe we can meet next year on the Canadian Mint Web Site. Later!
Golfer
Level 5
Hope I can login. I might try for something?
Big Nub Numismatics
Level 5
Well, congrats in advance for those who buy some. They'll make a huge profit
CoinsInHK
Level 3
This really seems like a recipe for disaster. Anyways, thanks for telling us about this I had no clue about this! It seems like everything's getting messed up by covid huh, even the mint's logic! XD Sincerely, CoinsInHK or Theo
TheNumisMaster
Level 5
Oh man, the mints really digging themselves in a hole... Cheers, NM