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Mint to sell SF commems in bulk program
CaptHenway
Posts: 32,694 ✭✭✭✭✭
From Dec. 1 to Dec. 20, the Mint will sell the SF commems to authorized bulk dealers in full original packaging for the original pre-issue prices, or in capsules only for $15 less on the gold or $4 less on the silver. Minimum orders are 25 gold (total either finish) or 100 silver (same).
TD
TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Comments
<< <i>= nobody's buying 'em. >>
= good potential for future profits (c.f. Capitol Visitor Center)
K
Now they'll just get dumped on the open market by the dealers to undiscerning collectors. Oh well, I was wondering how the Mint would get rid of them, now I know.
Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?
<< <i>Well, I'll bet that more than a few of those gold commems are returns from all of the people who sent them back for a refund after the coins rattled around in the box out of the plastic.
Now they'll just get dumped on the open market by the dealers to undiscerning collectors. Oh well, I was wondering how the Mint would get rid of them, now I know. >>
Does the mint melt down returns? Do they count in the actual mintage figures. If so, the mintages of these coins are apt to be highly inflated. On the other hand, Numismatic News has a blurb this week where the mint director requested an extension, which must have been approved.
Kagin requests SF sales extension
“I’ve asked for an extension,” said Don Kagin Nov. 8 in discussing the Dec. 1 order deadline imposed by the Mint on the San Francisco Old Mint commemorative coin program.
The surcharges from sale of the coins, which first went on sale in August, will help fund the renovation of the San Francisco Old Mint, nicknamed the Granite Lady.
Kagin has worked for years to make the renovated building a reality because it will also house a Gold Rush numismatic museum.
“Our goal is primarily that we want the coin to sell out to get as much proceeds as surcharges as possible,” said Erik Christoffersen, executive director of the San Francisco Museum and Historical Society.
<< <i>These coins are dogs on eBay right now and this will make them double so. I am grateful I cancelled my order. >>
Fair enough, but don't come whining back when these babies are going for $1200+ on eBay three or four years from now
But don't look now!
Until I hear otherwise, I have a bad feeling it's the former rather than the latter.
<< <i>Does the mint melt down returns? >>
I believe that rejected coins are defaced to the point where they can't be salvaged and then returned to their metals suppliers.