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@Goldminers said:
eBay makes a lot more than the Mint does on these popular issues.
Eh, I'm not so sure about that. The mint is selling an ounce of silver for $85. That's pretty good.
My generalized statement is not easy to document because it is not easy to determine what eBay nets on only these coins, but the Mint does have data.
In 2020, the Mint’s bullion program had a particularly strong year, generating $2.1 billion in revenue and $46.2 million in net earnings (that is 2.2% net from the revenue). The numismatic program sold more than 3.4 million units, resulting in $346.6 million in revenue and $12.4 million in net earnings. (that is 3.6% net from revenue).
This was better than 2019 where the Mint had slightly higher numismatic revenue at $349.6, but only made $1.4 million net on numismatics. The significant numismatic price increases, and improved marketing in 2020 improved the Mint's bottom line which was very marginal in 2019. By law they are supposed to cover their costs and it looks like they did a lot better.
However a rough approximation is on that $85 silver coin mentioned, the Mint might only net 3-4%, or around a $3 profit.
Since eBay charges around 7% fees on the coins that are sold and people sell these popular coins for more than the Mint price on average, I think eBay does pretty well. They are a middleman and don't have near the operating costs to buy the precious metal materials, strike the coins, market them, etc. like the Mint does.
@Goldminers said:
eBay makes a lot more than the Mint does on these popular issues.
Eh, I'm not so sure about that. The mint is selling an ounce of silver for $85. That's pretty good.
My generalized statement is not easy to document because it is not easy to determine what eBay nets on only these coins, but the Mint does have data.
In 2020, the Mint’s bullion program had a particularly strong year, generating $2.1 billion in revenue and $46.2 million in net earnings (that is 2.2% net from the revenue). The numismatic program sold more than 3.4 million units, resulting in $346.6 million in revenue and $12.4 million in net earnings. (that is 3.6% net from revenue).
This was better than 2019 where the Mint had slightly higher numismatic revenue at $349.6, but only made $1.4 million net on numismatics. The significant numismatic price increases, and improved marketing in 2020 improved the Mint's bottom line which was very marginal in 2019. By law they are supposed to cover their costs and it looks like they did a lot better.
However a rough approximation is on that $85 silver coin mentioned, the Mint might only net 3-4%, or around a $3 profit.
Since eBay charges around 7% fees on the coins that are sold and people sell these popular coins for more than the Mint price on average, I think eBay does pretty well. They are a middleman and don't have near the operating costs to buy the precious metal materials, strike the coins, market them, etc. like the Mint does.
If you sell the eagle's under bullion, it is 7% but 2.5% of that is payment processing. FWIW
I forgot it was ET and I'm in CT. Logged on at 11:20 and OH CRAP, it's available NOW! Got one of each in the bag and got booted. Proved I was human 3 times. Finally got confirmation at 11:23 USM1025XXXX.
I'll be ready next Tuesday.
I've now noticed that I've had the same "glitch" hit my account two issues in a row (the ASE and the Morgans)...for orders that were placed and confirmed...the same exact number of coins remained in my bag...or maybe the same coins were somehow added back in...either way, it's weird and had never happened before.
And it's also especially weird since I haven't been playing the morning follies...so how can 6 "not currently available" Morgans just magically reappear in my bag?
Is it odd that my CC is showing a pending charge for the full amount? Last time for the CC and O's it just showed pending charge for shipping amount. I know it will drop off in few days, but just thought it was odd.
I received the page not found on the 2 1/10th coin sets today
I got all of the below error messages for the Morgans
I'm going to let them know that ... despite a 2 minute sell out on the double 1/10ths and few complaints on the Type 2 AGE, there are still processing errors being encountered
@originalsandman said:
Is it odd that my CC is showing a pending charge for the full amount? Last time for the CC and O's it just showed pending charge for shipping amount. I know it will drop off in few days, but just thought it was odd.
no idea
maybe someone will see the TTT that knows and replies
@RichR said:
I've now noticed that I've had the same "glitch" hit my account two issues in a row (the ASE and the Morgans)...for orders that were placed and confirmed...the same exact number of coins remained in my bag...or maybe the same coins were somehow added back in...either way, it's weird and had never happened before.
And it's also especially weird since I haven't been playing the morning follies...so how can 6 "not currently available" Morgans just magically reappear in my bag?
Since no one else has had the problem, couldn't it just be you?
@originalsandman said:
Is it odd that my CC is showing a pending charge for the full amount? Last time for the CC and O's it just showed pending charge for shipping amount. I know it will drop off in few days, but just thought it was odd.
no idea
maybe someone will see the TTT that knows and replies
@RichR said:
I've now noticed that I've had the same "glitch" hit my account two issues in a row (the ASE and the Morgans)...for orders that were placed and confirmed...the same exact number of coins remained in my bag...or maybe the same coins were somehow added back in...either way, it's weird and had never happened before.
And it's also especially weird since I haven't been playing the morning follies...so how can 6 "not currently available" Morgans just magically reappear in my bag?
Since no one else has had the problem, couldn't it just be you?
I just checked and it happened to me also. Confirmed orders, and magic they are both back in the bag saying " This item is not available"
@RichR said:
I've now noticed that I've had the same "glitch" hit my account two issues in a row (the ASE and the Morgans)...for orders that were placed and confirmed...the same exact number of coins remained in my bag...or maybe the same coins were somehow added back in...either way, it's weird and had never happened before.
And it's also especially weird since I haven't been playing the morning follies...so how can 6 "not currently available" Morgans just magically reappear in my bag?
Back in the day, we'd be on a southern riverbank counting out 10 paces...
But seriously...I only mentioned this "glitch" because you need to empty the stupid bag before it allows you to buy anything else...like next Tuesday at noon.
Back in the day, we'd be on a southern riverbank counting out 10 paces...
But seriously...I only mentioned this "glitch" because you need to empty the stupid bag before it allows you to buy anything else...like next Tuesday at noon.
@RichR said:
However, on the upside, I've haven't gotten the human verification check since my wife slapped the keyboard with her tail!
I believe it is your wife that wants to see you on the river bank.
Order completed for a ‘D’ that was in my bag from a previous day. It was another very quick here and gone morning. Literally came available for seconds then gone.
"What we are never changes, but who we are ... never stops changing."
I have noticed when I put one in bag and don’t check out. When I go back it’s gone. Then I check my order history and son of a gun it’s reappeared in the cart. If I go back to product page. It will reappear in cart. Eventually it drops off but if I repeat process I can get it back in cart. 😳
[I have noticed when I put one in bag and don’t check out. When I go back it’s gone. Then I check my order history and son of a gun it’s reappeared in the cart. If I go back to product page. It will reappear in cart. Eventually it drops off but if I repeat process I can get it back in cart. ]
Taken together with my comments yesterday...me thinks there are newly added bugs to the "bag subroutine"...whatever that might involve!
But I do know this...you better make sure that bag is REALLY empty before next Tuesday at Noon!
Bag hijinks. Yep. When I went to buy two S Morgans, as I was checking out it had changed to three! So I went with it...but be careful, if a ghost coin appears in your cart that is unavailable, you will be stopped from purchasing anything.
2021-D Morgan dollar and the companion 2021-S dollar reached the "unavailable" status in 20 to 25 minutes during the first day of sales, though not all of the coins were sold.
Later on in the story, it changes to "...first 20 to 27 minutes "
It was very well documented here, via multiple posts, that the S reached unavailable at 12:25pm and D reached unavailable at 12:27pm. I wonder what other "facts and figures" are accurate?
He also quotes U.S. Mint spokesman Michael White:
"First-day sales reported by White reflect 130,209 of the 2021-S Morgan dollar coins and 123,534 examples of the 2021-D Morgan dollar."
...but no where in the article does he inquire with White to determine why such a difference between the 175,000 coins.
The writer actually earlier wrote: "first-day sales Aug. 3 for the rescheduled sales launch consumed the maximum mintage authorized for each coin."
There's a clear mis-match of info that the writer should have addressed. Readers are wondering...
...and to further nitpick, he writes:
"The U.S. Mint postponed the originally scheduled June 1 release date following computer attacks on the Mint’s e-commerce site during the May 24 release of the 2021 Morgan dollars with CC and O privy marks'
and later writes:
"May 24 sales were marred by bots focused on the Mint’s website, in buyer attempts to circumvent household order limits"
While "computer attacks" and "bots" might mean the same thing to some people...there actually not.
Bots meant to buy up the supply...are not exactly "attacking" - they just want to buy, buy, buy...
I guess they do attack the front end of the website...but the way the sentence was written, it appears to sound as if the Mint's website was under attack by those trying to bring it down.
The dealers were given significant allocations ahead of time. Not sure if those numbers were in the first day sales technically and maybe that could explain some of the difference.
@Goldminers said:
The dealers were given significant allocations ahead of time. Not sure if those numbers were in the first day sales technically and maybe that could explain some of the difference.
True...and I'm sure there's truth to that - I just wished the "writer" had dived a little deeper on the difference...
a missing 40k coins went somewhere - or did they?? :-)
Comments
Odd. I just got an order acceptance and confirmation from a Tuesday order.
Weird
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My generalized statement is not easy to document because it is not easy to determine what eBay nets on only these coins, but the Mint does have data.
In 2020, the Mint’s bullion program had a particularly strong year, generating $2.1 billion in revenue and $46.2 million in net earnings (that is 2.2% net from the revenue). The numismatic program sold more than 3.4 million units, resulting in $346.6 million in revenue and $12.4 million in net earnings. (that is 3.6% net from revenue).
This was better than 2019 where the Mint had slightly higher numismatic revenue at $349.6, but only made $1.4 million net on numismatics. The significant numismatic price increases, and improved marketing in 2020 improved the Mint's bottom line which was very marginal in 2019. By law they are supposed to cover their costs and it looks like they did a lot better.
However a rough approximation is on that $85 silver coin mentioned, the Mint might only net 3-4%, or around a $3 profit.
Since eBay charges around 7% fees on the coins that are sold and people sell these popular coins for more than the Mint price on average, I think eBay does pretty well. They are a middleman and don't have near the operating costs to buy the precious metal materials, strike the coins, market them, etc. like the Mint does.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
If you sell the eagle's under bullion, it is 7% but 2.5% of that is payment processing. FWIW
I forgot it was ET and I'm in CT. Logged on at 11:20 and OH CRAP, it's available NOW! Got one of each in the bag and got booted. Proved I was human 3 times. Finally got confirmation at 11:23 USM1025XXXX.
I'll be ready next Tuesday.
turned red for a few seconds. Clicked add to bag and poof !!!!
Was able to get two D's this morning. They were already in my bag and have received confirmation email.
I was able to get the ‘D’ in my bag. But it was gone after that. Very brief window this morning.
I got 11 ASEs, so didn't have time to do both
I got the 2021 Kennedy 2 roll set......
I've now noticed that I've had the same "glitch" hit my account two issues in a row (the ASE and the Morgans)...for orders that were placed and confirmed...the same exact number of coins remained in my bag...or maybe the same coins were somehow added back in...either way, it's weird and had never happened before.
And it's also especially weird since I haven't been playing the morning follies...so how can 6 "not currently available" Morgans just magically reappear in my bag?
Is it odd that my CC is showing a pending charge for the full amount? Last time for the CC and O's it just showed pending charge for shipping amount. I know it will drop off in few days, but just thought it was odd.
I found the error pages
I received the page not found on the 2 1/10th coin sets today
I got all of the below error messages for the Morgans
I'm going to let them know that ... despite a 2 minute sell out on the double 1/10ths and few complaints on the Type 2 AGE, there are still processing errors being encountered
no idea
maybe someone will see the TTT that knows and replies
Since no one else has had the problem, couldn't it just be you?
It usually does the full amount
It's worse than that. The Morgans are about .86 troy ounces!
that works out to about $100/toz
I knew silver would get to hundred dollars an oz.😈😵💫
🎶 shout shout, let it all out 🎶
1,400 listings
I just checked and it happened to me also. Confirmed orders, and magic they are both back in the bag saying " This item is not available"
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
@jmlanzaf said:
» show previous quotes
Since no one else has had the problem, couldn't it just be you?
I just checked and it happened to me also. Confirmed orders, and magic they are both back in the bag saying " This item is not available"
HA...you all mocked me!!!
And this happened to me on the past two issues...which is quite a timesaver if I want to go fishing early in the morning...already sitting in the bag!
Lol. Who mocked you?
before the thread launches into out of control - said user felt slighted. "couldn't it just be you" is not worded the best way.
"perhaps you're the only one" ?? "never heard of it before ever" ??
something.
abort launch!!
You would have to be really paranoid to see that as mocking. Everyone's system is different. Sometimes it is the user not the website.
The Mint is just proving that they're Human.
My honor has been questioned, sir!
Back in the day, we'd be on a southern riverbank counting out 10 paces...
But seriously...I only mentioned this "glitch" because you need to empty the stupid bag before it allows you to buy anything else...like next Tuesday at noon.
between now and then, you have every day at 7:30 to empty it
However, on the upside, I've haven't gotten the human verification check since my wife slapped the keyboard with her tail!
I believe it is your wife that wants to see you on the river bank.
Order completed for a ‘D’ that was in my bag from a previous day. It was another very quick here and gone morning. Literally came available for seconds then gone.
I got two S Morgans into the bag then gone before I could check out. Hope to get a chance to empty it tomorrow if I wake up in time.
I have noticed when I put one in bag and don’t check out. When I go back it’s gone. Then I check my order history and son of a gun it’s reappeared in the cart. If I go back to product page. It will reappear in cart. Eventually it drops off but if I repeat process I can get it back in cart. 😳
🎶 shout shout, let it all out 🎶
[I have noticed when I put one in bag and don’t check out. When I go back it’s gone. Then I check my order history and son of a gun it’s reappeared in the cart. If I go back to product page. It will reappear in cart. Eventually it drops off but if I repeat process I can get it back in cart. ]
Taken together with my comments yesterday...me thinks there are newly added bugs to the "bag subroutine"...whatever that might involve!
But I do know this...you better make sure that bag is REALLY empty before next Tuesday at Noon!
If I remove it from the cart in my orders it stays gone. 🧐
🎶 shout shout, let it all out 🎶
Some people may need to clear their cache/cookies with these reports of disappearing and reappearing carts.
You probably don't want to look at my sealed-from-the-mint mailing box of 20 9/11 silver dollars that I got 10 years ago.
That's not a flip. You owned it for 10 years. It's a hoard. It's a speculation. It's a collection. But it's not a flip
what time do they usually restock these?
Bag hijinks. Yep. When I went to buy two S Morgans, as I was checking out it had changed to three! So I went with it...but be careful, if a ghost coin appears in your cart that is unavailable, you will be stopped from purchasing anything.
7:30 EDT
Well…I bought it to flip…
This guy likes to debate everything he doesn't agree with so I wouldn't waste your time with him.😎
I agree with you and with the 20th anniversary this year it could be the time to sell. Good luck!👍
You really have a problem with your ignore.
So, anyone who buys ASE's to invest in bullion is a flipper?
Read for surprising first day sales numbers
https://www.coinworld.com/news/us-coins/morgan-dollars-sell-quickly-on-first-day
...not really to nitpick but the writer stated:
Later on in the story, it changes to "...first 20 to 27 minutes "
It was very well documented here, via multiple posts, that the S reached unavailable at 12:25pm and D reached unavailable at 12:27pm. I wonder what other "facts and figures" are accurate?
He also quotes U.S. Mint spokesman Michael White:
...but no where in the article does he inquire with White to determine why such a difference between the 175,000 coins.
The writer actually earlier wrote: "first-day sales Aug. 3 for the rescheduled sales launch consumed the maximum mintage authorized for each coin."
There's a clear mis-match of info that the writer should have addressed. Readers are wondering...
...and to further nitpick, he writes:
and later writes:
While "computer attacks" and "bots" might mean the same thing to some people...there actually not.
Bots meant to buy up the supply...are not exactly "attacking" - they just want to buy, buy, buy...
I guess they do attack the front end of the website...but the way the sentence was written, it appears to sound as if the Mint's website was under attack by those trying to bring it down.
Good Article...Poor Reporting skills!
BST references available on request
The dealers were given significant allocations ahead of time. Not sure if those numbers were in the first day sales technically and maybe that could explain some of the difference.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
True...and I'm sure there's truth to that - I just wished the "writer" had dived a little deeper on the difference...
a missing 40k coins went somewhere - or did they?? :-)
BST references available on request
...40,000 missing...unless they're planning a multi-coin set later this year, But there would be an uproar over something like that!