Coin World: "Monday Morning Brief for July 26, 2021: A good first step"
Goldbully
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We can only hope and pray this works.
Monday Morning Brief for July 26, 2021: A good first step
By William T. Gibbs , Coin World Published: Jul 26, 2021, 7 AM
It is too soon to tell whether the decision by the Mint to forbid numismatic bulk buyers from using techniques to circumvent household ordering limits for products will make it easier for collectors to buy limited-edition coins like the 2021 Peace dollar.
Original images courtesy of the United States Mint.
The decision by United States Mint officials to impose new guidelines on its numismatic bulk buyers, forbidding them to use bots and other techniques to circumvent household ordering limits for Mint products, is a welcome one. Time will tell how effective are the threats of potential sanctions for violating the new policies.
The first product launch after the announcement was made shows that the Mint has a long way to go. The Proof 2021-W American Eagle, Reverse of 2021 silver dollar was offered to Mint customers starting July 20. As most of you probably already know, the 300,000-coin maximum mintage “sold out” in 20 minutes.
That was not unexpected. The coin was the first numismatic issue with the new reverse design in the long-running series. A sellout of 300,000 pieces was guaranteed. All that was uncertain was how long it would take.
Also as expected, the 300,000 coins were not enough to meet demand. As with virtually every limited-edition offering, some Mint customers were unable to purchase any of the coins despite their best efforts. Comments from two of them who contacted Coin World are below and on the opposite page.
Story continues in link.
https://www.coinworld.com/news/us-coins/monday-morning-brief-for-july-26-2021-a-good-first-step
Comments
I am surprised that with the resources of the government at the Mint's disposal, that they are not able to overcome the ordering issues. Cheers, RickO
I’m sure the bureaucracy and government-think are the biggest barriers to overcoming these solvable problems.
It’s too little far too late. I’m sure many feel the way I do. After being blocked by the Mint’s stupid bot filter after repeatedly refreshing my browser secondary to website crashes on the gold WWII commemorative, I won’t buy anything else from the Mint nor will I participate in the secondary market. True enough the Mint won’t care as long as the issues sell out, but it will turn off buyers of its less popular products too.
And what good will the new rules be? If the buyers won’t honor the limits to begin with, what good is the “no we really mean it” email?
This is about money. The bulk buyers will figure out new ways to defeat efforts to defeat them.
I will wait for the mint to show that it has total control over the "bots" and their users.
I have a gift card that is almost 2 years old which I won't use until things change for the best.
Wayne
Kennedys are my quest...
I didn’t realize the fix was in. If the bulk buyers are the culprits then cut out bulk buyers or quit acting like you care about fixing the problem.
The subscription option on this one expedited the fast sellout.
Repetition of ignorance is ignorance raised to the power two.