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Morgan and Peace Remaining Pre-Order Windows Postponed
pointfivezero
Posts: 1,875 ✭✭✭✭✭
Anybody else just get this?
5
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Yes, and sounds good to me.
My US Mint Commemorative Medal Set
If they haven't been able to fix it for the last 5 years I won't hold my breath now.
"As the demand for silver remains greater than the supply, the reality is such that not everyone will be able to purchase a coin. However, we are confident that during the postponement, we will be able to greatly improve on our ability to deliver the utmost positive U.S. Mint experience that out customers deserve"?
People who are not getting the coins they want are going to be more positive about it?
I bet not.
Yeah, I’m not holding my breath. They’ve tried fixing the site for years, what’s gonna be different suddenly? I always get a little rush trying to get these hot releases.
Yeah, because it’s the demand for $85 an ounce silver that’s the cause😵💫
Interesting change. Seems like they are working hard to tell everyone that it is being postponed because of whatever they feel people will accept. Is it the lack of silver? Or the website?
Time out for you complainers 🤪we’ll fix this right up. Now guess when you bad little boys and girls get your coins. But we weren’t complaining oh we dared to think 🤔
🎶 shout shout, let it all out 🎶
It appears there are more than a few people who think "fixing the site" means they'll be able to order the coins they want. As long as there are more people wanting coins than there are coins to be had, the site will never be "fixed".
The question is, will they discontinue the piecemeal releases of the remaining CC and O privy Morgan's so I can sleep past 4:30 AM?
I think that many, maybe even most that ordered these could care less about owning them, just an opportunity to profit on how the mint operates and sticks it to the collectors.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Yeah, it's silly, isn't it? Taking advantage of collectors by making coins that they want to buy.
I would like a lottery with an HHL of one so that all the lottery losers will know in advance of release that they will not be allowed to buy a coin. That will make them happy.
As long as demand is greater than supply there is no "fix".
Well, it depends on what you are trying to fix.
You could increase supply, but that would (ironically) decrease demand and the complaint about "$85 silver" would be back.
It's actually around $100 per ounce as each coin does not contain 1 ounce of silver.
Crazy they would do this. Never seen it before.
Collector
91 Positive BST transactions buying and selling with 56 members and counting!
instagram.com/klnumismatics
"global silver shortage"??? In checking the private dealers I can buy as many silver rounds as I want. Or bars too. 500 Canada $5.00 rounds at $38.00 each. Very strange.
I really do not think the demand for silver had much of an effect on the website issue. Silver is available much cheaper in many other venues. It is a website order management issue. Exclusively. Cheers, RickO
They really just need to mint to order, that alone would depower the flippers, flatten the rush to order and get the collectors back in the drivers seat.
The mint has no business creating artificial squeeze points that constrict supply and allows bottom feeders to get between the end collector and the supply chain. When no one benefits except people who add no value then the process is broken
11.5$ Southern Dollars, The little “Big Easy” set
Exactly! We collectors are being squeezed out by the Mint, which has become a wholesale supplier for the flippers and dealers. As you said, they should mint to order. Set up an ordering window of a couple weeks to a month. Everyone who orders during that time will be able to get a coin. So even if the Mint sells 200,000 in the first few minutes, the collector will not get squeezed out.
The mint is now producing coins that they are making a profit on. They advised us of this last October when they raised prices on certain issues. Before everybody was complaining that the mint mass produced so many coins, that there was no secondary market for what they bought. Now people are complaining that the US Mint does not make enough coins so everybody can get one. No matter what they do, people will always complain. Damned if they do, damned if they don’t.
The US mint is a business. Creating artificial squeeze points is HOW they business.... They create customers by having impulse buying opportunities and limited releases are what people want. I have purchased coins I would have NEVER purchased just because they drive me to the site for limited issues. The most recent is I'm a collector of the presidential silver medals now. Really nice coins.
You may not like the game but don't hate the players. Capitalisms is a great thing. There seem to be a lot of folks that miss coins for one reason or another and are happy to get them on the secondary market, I being one of them. If there weren't resellers, then I wouldn't be a collector for many of my coins, especially those minted before I was born.
How many coins would people actually buy if the mint had years and years worth of coins up at any given time? You gotta buy it now or it's GONE!
I don't agree the intent was to create "squeezepoints".
They were blown away (as predicted) by demand again and the system can't handle it, end of story.
They need to upgrade. The question is how long will that take and will the tech consultants get it right.
Technology squeeze points aren't in their interest at all, they have openly admitted that. That just causes folks to not come back.
This!
You can find all kinds of connects on these threads from people who stopped buying Proof sets because they don't hold value. If the Mint didn't restrict the mintage, this is an $85 coin that is with $35 when it arrives in the mail. Who is signing up for that?
Agree
It is also worth noting that the Mint benefits, as well as the hobby itself, from the advertising and marketing done by the resellers.
Should the mint go to a lottery, a prediction: The people who don't get a coin will complain because the lottery system doesn't work properly.
...or it's rigged to benefit "dealers" and "flippers" and other demon spawn
The USG is not a business
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
The business of business is business and the goal of business is to earn a profit in the provision of goods and services. The business of government is service -- well managed, one hopes, and not wasteful, but never at a profit. There is no such thing as government money. Governments have no money; they have only what they take from their citizens, either in taxes or by inflation. And if government accrues profit it can only have done so by taxing too much or eroding the value of the citizens' income and savings
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
I think the pre-selling of Mint products that aren't even made yet is a new low for them; in addition to the website issues.
Kind of sad. I was hoping to get some soon. Hopefully, it’s not postponed too long.
Will the fix be to raise the piece to $400
I agree
they contain something like .858 toz
so it is more like 100 per toz.
after seeing the feeding frenzy on ebay,
who's in for a HHL of 1?
I am.
Didn't the Mint announce earlier that they already had the 1,075,000 planchets in stock to create these dollars?
perhaps they need the silver they have for the type II American Silver Eagle programs. That demand is probably pretty high.. As for me I'm mad at the Mint and not buying, personal decision..
yes. bs excuse for web site failures
the planchets for these are already secured. they are something like .858 toz.
these are not ASE blanks.
They didn't want three consecutive weeks of furor over the way the sales were handled. Now it'll just be spread out more.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
"the planchets for these are already secured. they are something like .858 toz."
Then why the delay? So the US Mint's claim of a 'Silver Shortage' is deceitful?
I see no improvement in up and coming pre-releases unless the mint improves it's bot detection software and lowers the limit of coins per household. I agree with the idea of minting coins to match the orders placed.
Wayne
Kennedys are my quest...
"we are confident that during the postponement, we will be able to greatly improve on our ability to deliver the utmost positive U.S. Mint experience that our customers deserve. "
I think they laugh when they write this stuff.
"we are confident that during the postponement, we will be able to greatly improve on our ability to deliver the utmost positive U.S. Mint experience that our customers deserve. "
"Even though I didn't get what I really wanted, I feel quite positive about the ordering experience", said no one, ever.
I did get that notification. It's good that something is in the works to improve the situation. I was online to order at 9 o'clock Pacific Time. My order was accepted and I made the payment in less than ten minutes then the whole thing went haywire. Try again and again. Accepted. Rejected. Etc. Then sold out. Waste of time.
I still think that at the 175K mintage there are more than enough of these to go around. The initial supply problem is caused by bots, flippers, and "others" who bought the max HHL of ten "just because they could". The limit of 10 allows these to sell out somewhere between 1 and 10 times faster than if the limit was 1, and with a feeding frenzy I would bet that number is somewhere around 5 times.
I predict the Morgans will eventually be $50 coins like their older siblings, maybe that's unrealistic but I just can't see how they can hold value with so many out there. The Peace Dollar issue will probably hold value a little better since there aren't four variants, but still, 175K is a large number.
Collector, occasional seller
this is just people trying to rationalize their sucker fish behavior. "The mint wants me to flip" is nonsensical.
And the Mint isn't a business FYI to all the flippers reading it is a Mission based Tax payer funded Gov Agency with a reimbursable based mission. Profit just funds other aspects to end up neutral.
11.5$ Southern Dollars, The little “Big Easy” set
disagree
see the mega thread
resellers provide no value to the hobby, the mint or collectors for just buying up all bread and then doubling the price. If it helps you to sleep at night that's fine but it is marginal behavior
11.5$ Southern Dollars, The little “Big Easy” set
marketing?
many are simply selling on ebay?
many dealers with a pre-allotment are not advertising.
How hard is it to give Amazon a call?