@Cameonut said:
The mint desperately needs a better and more fair method to sell modern crap rarities.
Limited edition items sold by lottery. Notification of upcoming sales posted on mint's website 90 days before entry period begins. 30 day entry period, by mail or online, with provision for buyers to confirm (either online or by phone) that their entry has been accepted.
There'd likely need to be some refinements, but that'll get you started.
Lotteries will result in the same problem. People with big networks/family, etc. will get them all. It doesn’t reward people trying to get it. We all had an equal shot to get the coin. The windows and captchas we saw weren’t because the mint was singling us out. It was mostly random based on how we used the site, when we reloaded, etc.
The site crashed, but sites crash under that kind of load. If it didn’t crash they would have sold out in seconds. I say keep the system the same. Do what you can to stop bots, but don’t change the overall way they sell products.
I agree.
This was the topic earlier. No matter what you do, there will be complaints.
Yeah I jump in here every so often and say this. I can’t believe the traction some of these crazy ideas are getting and few seem to be advocating to keep it the same. Admittedly I got a gold and silver one on one of the later mornings, but I’d say the same thing if I didn’t, and was saying it before I was able to get a coin. It’s the thrill of trying, and if you don’t get it, oh well.
@Dollar2007 said:
Lotteries will result in the same problem. People with big networks/family, etc. will get them all. It doesn’t reward people trying to get it.
But they get to feel like they had a chance. Which, if I understand what others have written above, seems to matter.
@Dollar2007 said:
We all had an equal shot to get the coin. The windows and captchas we saw weren’t because the mint was singling us out. It was mostly random based on how we used the site, when we reloaded, etc. The site crashed, but sites crash under that kind of load. If it didn’t crash they would have sold out in seconds. I say keep the system the same.
@Dollar2007 said:
Lotteries will result in the same problem. People with big networks/family, etc. will get them all. It doesn’t reward people trying to get it.
But they get to feel like they had a chance. Which, if I understand what others have written above, seems to matter.
To me trying as hard as I can on a website for an hour makes it feel like I have a chance. A lottery, sure there’s a chance but it’s slim. If lotteries opened for say a month for coins all of us would enter, you’d tell all your friends and family, more than you do now since it’s easier and they have more time, just throw your name in the hat. The bot people make entries for all their extra addresses. The news picks it up, the credit card blogs, the mommy blogs, Facebook, etc. Thousands of people now are trying for this thing to make a quick buck because it’s just entering a lottery and the chances of any of us getting it go way down because none of us are in control anymore.
@Dollar2007 said:
To me trying as hard as I can on a website for an hour makes it feel like I have a chance. A lottery, sure there’s a chance but it’s slim. If lotteries opened for say a month for coins all of us would enter, you’d tell all your friends and family, more than you do now since it’s easier and they have more time, just throw your name in the hat.
Sure. I'm not going to spend an hour on a website but I'd enter a lottery.
Bottom line, my point- there is no solution that will make everybody happy when there are more buyers than coins.
@Dollar2007 said:
To me trying as hard as I can on a website for an hour makes it feel like I have a chance. A lottery, sure there’s a chance but it’s slim. If lotteries opened for say a month for coins all of us would enter, you’d tell all your friends and family, more than you do now since it’s easier and they have more time, just throw your name in the hat.
Sure. I'm not going to spend an hour on a website but I'd enter a lottery.
Bottom line, my point- there is no solution that will make everybody happy when there are more buyers than coins.
As I mentioned earlier in this thread, which didnt seem to get much attention, I still think that planning a 2nd run for "special" issues solves a lot of these problems.
First run - dealers, flippers, collectors who want to be first in line will fight the website to get the limited first run, turn over the first 70's with special labels at TPGs, etc. When stock runs out, go to backorder.
Second run - a few months later, mint enough to fill the backorder demand.
Collectors who "need" one can wait and get the mint price instead of the ebay price.
Allows for same hype around initial release - unknown total mintage from 2nd run still provides some speculation
Second run gives an opportunity to reconcile demand, e.g. Gauge interest, assess returns, etc from first run to set 2nd mintage to best match market demand.
Biggest drawback would be operational for the mint - production process would have to be run twice.
But it would seem to solve excessive flipping, collectors being shut out, and keeps market interest with some unknowns around mintage keeping collectors engaged.
Please shoot holes in my idea. Why wouldnt this work?
Until someone's order gets delayed by the post office and they miss out. It now becomes a lottery system run jointly by USM and USPS. That won't cause ANY complaints.
At least it would take 3 months before you found out that you were not drawn from the mail bag that had 300,000 other hopefuls. Your only effort would be write a check, address a envelope, place stamp and mail. Compared to swearing at your computer. Only having a few minutes to get it done. Thinking you finally get there. Only to have the little circle going round and round. And panicking what would be my best move. Way less agervison just mailing it off.
Seriously the mint has no businesses minting anything with a mintage of1945. Unless that is all they had for orders
I sat this out Because I knew it would be a cluster
Any real complaining on this is unfounded. Everyone knew it was a crap shoot
@Pedzola said:
As I mentioned earlier in this thread, which didnt seem to get much attention, I still think that planning a 2nd run for "special" issues solves a lot of these problems.
First run - dealers, flippers, collectors who want to be first in line will fight the website to get the limited first run, turn over the first 70's with special labels at TPGs, etc. When stock runs out, go to backorder.
Second run - a few months later, mint enough to fill the backorder demand.
Collectors who "need" one can wait and get the mint price instead of the ebay price.
Allows for same hype around initial release - unknown total mintage from 2nd run still provides some speculation
Second run gives an opportunity to reconcile demand, e.g. Gauge interest, assess returns, etc from first run to set 2nd mintage to best match market demand.
Biggest drawback would be operational for the mint - production process would have to be run twice.
But it would seem to solve excessive flipping, collectors being shut out, and keeps market interest with some unknowns around mintage keeping collectors engaged.
Please shoot holes in my idea. Why wouldnt this work?
If I knew there was going to be a second run, why would I buy it in the first? Unless the coins say first printing they might as well just mint to demand.
@Pedzola said:
As I mentioned earlier in this thread, which didnt seem to get much attention, I still think that planning a 2nd run for "special" issues solves a lot of these problems.
First run - dealers, flippers, collectors who want to be first in line will fight the website to get the limited first run, turn over the first 70's with special labels at TPGs, etc. When stock runs out, go to backorder.
Second run - a few months later, mint enough to fill the backorder demand.
Collectors who "need" one can wait and get the mint price instead of the ebay price.
Allows for same hype around initial release - unknown total mintage from 2nd run still provides some speculation
Second run gives an opportunity to reconcile demand, e.g. Gauge interest, assess returns, etc from first run to set 2nd mintage to best match market demand.
Biggest drawback would be operational for the mint - production process would have to be run twice.
But it would seem to solve excessive flipping, collectors being shut out, and keeps market interest with some unknowns around mintage keeping collectors engaged.
Please shoot holes in my idea. Why wouldnt this work?
I'm not sure this solves anything. You might as well just have an unlimited 1st run.
If you collect a series and there is a distinction between "1st run" and "2nd run", then you're probably going to want/need one of each to fill your series. Probably especially true of registry sets. So you haven't removed the demand for the 1st run. You might fill some residual demand with the 2nd run for people who don't collect the entire series. But all of the profit-seekers still want the first run and all of the "true collectors" (I'm starting to hate that term) want the first run also.
Raw coins will all become "2nd run" by default, if there is a price difference. So, this is a boon to the slab company and marketers.
Comments
Yeah I jump in here every so often and say this. I can’t believe the traction some of these crazy ideas are getting and few seem to be advocating to keep it the same. Admittedly I got a gold and silver one on one of the later mornings, but I’d say the same thing if I didn’t, and was saying it before I was able to get a coin. It’s the thrill of trying, and if you don’t get it, oh well.
But they get to feel like they had a chance. Which, if I understand what others have written above, seems to matter.
I don't disagree with any of that.
To me trying as hard as I can on a website for an hour makes it feel like I have a chance. A lottery, sure there’s a chance but it’s slim. If lotteries opened for say a month for coins all of us would enter, you’d tell all your friends and family, more than you do now since it’s easier and they have more time, just throw your name in the hat. The bot people make entries for all their extra addresses. The news picks it up, the credit card blogs, the mommy blogs, Facebook, etc. Thousands of people now are trying for this thing to make a quick buck because it’s just entering a lottery and the chances of any of us getting it go way down because none of us are in control anymore.
Sure. I'm not going to spend an hour on a website but I'd enter a lottery.
Bottom line, my point- there is no solution that will make everybody happy when there are more buyers than coins.
True, definitely no way to appease everyone.
As I mentioned earlier in this thread, which didnt seem to get much attention, I still think that planning a 2nd run for "special" issues solves a lot of these problems.
First run - dealers, flippers, collectors who want to be first in line will fight the website to get the limited first run, turn over the first 70's with special labels at TPGs, etc. When stock runs out, go to backorder.
Second run - a few months later, mint enough to fill the backorder demand.
Biggest drawback would be operational for the mint - production process would have to be run twice.
But it would seem to solve excessive flipping, collectors being shut out, and keeps market interest with some unknowns around mintage keeping collectors engaged.
Please shoot holes in my idea. Why wouldnt this work?
Instagram
Limited editions, with the limit being "as many as we can sell"?
Isnt that the point?
I mean - isnt that sort of their purpose, to provide coins in sufficient quantity to satisfy market demand?
Instagram
@jmlanzaf
LOL.
Until someone's order gets delayed by the post office and they miss out. It now becomes a lottery system run jointly by USM and USPS. That won't cause ANY complaints.
At least it would take 3 months before you found out that you were not drawn from the mail bag that had 300,000 other hopefuls. Your only effort would be write a check, address a envelope, place stamp and mail. Compared to swearing at your computer. Only having a few minutes to get it done. Thinking you finally get there. Only to have the little circle going round and round. And panicking what would be my best move. Way less agervison just mailing it off.
Seriously the mint has no businesses minting anything with a mintage of1945. Unless that is all they had for orders
I sat this out Because I knew it would be a cluster
Any real complaining on this is unfounded. Everyone knew it was a crap shoot
Martin
So "limited edition" = "mint to demand"?
If I knew there was going to be a second run, why would I buy it in the first? Unless the coins say first printing they might as well just mint to demand.
No. Their purpose is to follow the direction of congress.
Would of been a nice gesture to allow a few vets to the front of the line to further honor our vets. After all isn't what this is all about?
I'm not sure this solves anything. You might as well just have an unlimited 1st run.
If you collect a series and there is a distinction between "1st run" and "2nd run", then you're probably going to want/need one of each to fill your series. Probably especially true of registry sets. So you haven't removed the demand for the 1st run. You might fill some residual demand with the 2nd run for people who don't collect the entire series. But all of the profit-seekers still want the first run and all of the "true collectors" (I'm starting to hate that term) want the first run also.
Raw coins will all become "2nd run" by default, if there is a price difference. So, this is a boon to the slab company and marketers.
With the popularity of some offerings, a "restrike" might be a viable solution. One caveat; the restrike would be in the same year. ( an idea)
and since this is covered above.... it's just an "idea". Besides, honestly : who collects these ? Are there 1945 living World War 2 veterans left ?
``https://ebay.us/m/KxolR5