Mint is Closed - Should we start hoarding 2020 minted coins

hellerjustin1968

So we all know that relative to other modern mintage counts, 2009 ranks as relatively low mintage compared to numbers minted within 10 years of 2009 (+/-). Given social distancing and business closures as a result of the Pandemic, I'm speculating that 2020 mintage will also be lower in comparison. Not sure where the counts will land. Are you hoarding?

neildrobertson

No. I just sold a coin on ebay with a mintage of 5,000 for $2.85. The reverse proof ASE was 30,000. Are we really approaching that level of scarcity?

Would you hoard to create artificial scarcity? Are you worried about not being able to get one in the future?

TurtleCat

Nope, the mere fact of hoarding would eliminate any real value to it. Besides, it’ll still be in the many millions. I believe billions have already been minted. If there is a prolonged recession, next year might be the low mintage year.

PerryHall

Can you be sure that the mint won't reopen before the end of the year and resume making 2020 coins?

Gluggo

I thought it’s now a Federal Crime to HOARD? Executive Order #345,632,774,854,925,954,432,754,432

ernie11

The Mint's press release today indicates that the San Francisco Mint will reopen May 4.

news.coinupdate.com/united-states-mint-to-resume-san-francisco-operations/

SaorAlba

The mint could defeat the purpose of hoarding by freezing the 2020 date on coins into 2021 and beyond. Look what they did with the 1964 dated silver dimes and quarters - they were minted into early 1966.

joeykoins

Good thread! Something to really consider. This is what makes this hobby so exciting. The spontaneous factor. One never knows what collectors will be fired up upon. What the OP brought up, very much has the potential of ballooning into something? This year,(2020) is certainly a year that the world will NEVER forget anytime soon.

Bullsitter

@Gluggo said:
I thought it’s now a Federal Crime to HOARD? Executive Order #345,632,774,854,925,954,432,754,432

There's not a crane in Alaska big enough to lift your safe.....

mvs7

@SaorAlba said:
The mint could defeat the purpose of hoarding by freezing the 2020 date on coins into 2021 and beyond. Look what they did with the 1964 dated silver dimes and quarters - they were minted into early 1966.

That would definitely make 2021 the rarer date.

ms70

Very interesting. I guess there's no way to know if such an effort would be worth it until all the numbers are in.

ricko

@hellerjustin1968 ....Welcome aboard.... This will be just a small blip in the flow of coins....there will be no major impact at all. However, if you are concerned, then save 2020 coins until the end of the year and see the mint totals. Cheers, RickO

SenateSaloon

I doubt there will be any major long term rarities, but there may be more immediate sales opportunities for some coins. For example, the 2020 Silver Proof Set is currently unavailable due to Covid, and that includes the reverse proof w nickel. Now 191k isn’t rare, but a lot of people will want that nickel and I’ll bet you can sell the set for more than the mint purchase price. Also watch demand. If/when some of the currently delayed commemoratives become available, there could be demand changes due to economic or other factors that create some relative scarcity. I’m keeping my eyes open, but don’t expect any major opportunities.

Elcontador

I wouldn't bother. The 38 D Buff didn't circulate for similar reasons and only 7 million were minted. Thirty years later, I got one that would grade MS 66 today for $2.

joeykoins

@Elcontador said:
I wouldn't bother. The 38 D Buff didn't circulate for similar reasons and only 7 million were minted. Thirty years later, I got one that would grade MS 66 today for $2.

Yeah, and this was over 82 yrs. ago.That certainly puts things in perspective! Lol

Tom147

I ordered my silver proof sets about 5 minutes after the opening. They didn't show up as " received order " until a week later. Received them today.

Onastone

@mvs7 said:

@SaorAlba said:
The mint could defeat the purpose of hoarding by freezing the 2020 date on coins into 2021 and beyond. Look what they did with the 1964 dated silver dimes and quarters - they were minted into early 1966.

That would definitely make 2021 the rarer date.

Very logical, I didn't think of the repercussions for next year.

Tom147

The mint could defeat the purpose of hoarding by freezing the 2020 date on coins into 2021 and beyond. Look what they did with the 1964 dated silver dimes and quarters - they were minted into early 1966.

That would definitely make 2021 the rarer date.

Very logical, I didn't think of the repercussions for next year.

If they " over run " the 2020's. Have to watch the year end numbers.

Pnies20

Good thing they’re printing paper money out of thin air!

joeykoins

@neildrobertson said:
No. I just sold a coin on ebay with a mintage of 5,000 for $2.85...

I'm very surprised that no one else had asked this question? What in the world can that coin be with such a low mintage at 5,000, that you sold for only at that ridiculous price? Really? Only $2.85? or did you actually mean $285? Lol. WoW!

My 5000th Post! Thank you.

oih82w8

Heck fire, I just saw my first 2020-D Cent in circulation this past Sunday...it was a real dog of a coin too! I put it back into the register till.

1northcoin

@joeykoins said:
Good thread! Something to really consider. This is what makes this hobby so exciting. The spontaneous factor. One never knows what collectors will be fired up upon. What the OP brought up, very much has the potential of ballooning into something? This year,(2020) is certainly a year that the world will NEVER forget anytime soon.

Congratulations on hitting 5000 posts

Jimnight

For me ... No.

topstuf

Just hope that COVID isn't serious enough that they have to date coins "year zero."