David Ryder has resigned as U. S. Mint Director
RichieURich
Posts: 8,514 ✭✭✭✭✭
RichieURich
Posts: 8,514 ✭✭✭✭✭
RichieURich
Posts: 8,514 ✭✭✭✭✭
Comments
Interesting. I suppose something came up that prompted him to choose this action. In any case, maybe some improvements are on the way?
Gee I can’t quite remember what is happening in October?
Terrific everything is about to ship excellent time to change the captain
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Political appointee
How long will we be without another appointee?
Sorry to hear that he's resigned. I would rather that he had been fired.
His tenure coincided with quite a bit of my disgust and frustration involving the mint's offerings and methods.
I'm sure he'll land comfortably somewhere.
Clearly this is some kind of a joke...
Alison Doone is an anagram of 'AI on noodles', which cannot be serious...
The Mint has had some terrific product offerings lately.
My perception is that they are moving in the right direction with perceived value.
And of course any sales made during his reign but not yet shipped are hereby canceled!!!
Sorry, I have to laugh at that. The current regime at the mint has made life miserable for collectors who want their products.
Well this is interesting. We will likely never know the backstory, but I am sure it will be covered by '...to pursue other interests.' Cheers, RickO
Nah, it's been tons and tons of fun taking those 1-hour-long roller coaster rides on the Mint's inept website just to get the latest Silver Eagle for one's collection.
Disagree.
What does ordering logistics have to do with product quality or collectability?
It has been frustrating but is largely improved. If you are not a regular buyer you would not know this.
Much less frustrating than getting offered .50 on the dollar for a recent purchase from a classic coin dealer. Or dealer collusion at auction.
Yes... these are likely the best times in modern US Mint coin collecting.
After being shut out of several mint offerings which sold out almost immediately, I've given up buying from the US Mint.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@fathom, you experience has been considerably different from mine, and many people who have sent emails and published editorials in "Coin World." Unless you are dealer with a network of buyers, or better still, have an "in" at the mint which lets you have first crack at what they are selling, the process has been very frustrating.
As for you comment about getting 50 cents on the dollar for the coins you buy from dealers, that can be true. But having collecting coins for over 60 years, I can tell you that I have seen values go down on modern stuff far more than that. If you can buy one of these "low mintage, modern U.S. Mint wonder coins" and expect it to hold its value long term chances are you will be disappointed. Quite often the price drop is a lot more than 50%, unless bullion prices increase to save you.
Did you drop this?
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Not sure if the following site link is permitted on here.
https://www.greysheet.com/news/story/david-ryder-out-as-director-at-the-u-s-mint
I don't know if it is just me, but somehow his smile always seems to look like a smirk.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Well... as I stated above - and the article states it.... "...to pursue other interests." Yeah, right... OK. Cheers, RickO
Once again I get very confused by you
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His strategy has always been one that's great for the bulk purchasers and TPGs, and not so great for collectors. He has taken very popular series with milestone anniversaries and created a frenzied market by announcing artificially low mintages.
This inducement of non-collectors with guaranteed quick profits, and FOMO marketing to us completest collectors yielded the inevitable chaos and hype.
I'm sure he'll land comfortably at one of the grateful TPGS or on HSN.
https://www.coinworld.com/news/us-coins/ryder-resigning-as-u-s-mint-director-oct-1
I say good riddance. Hopefully he doesn't come back a third time. They say things come in threes.
I hope that who ever accepts the job will improve and restore the mint's image.
Wayne
Kennedys are my quest...
I'm glad that the 'W' circulating quarters were released. I don't know if it was his idea, but it was on his watch. That is/was a fun program.
I don’t care, haven’t dealt with the mint in decades.
The article mentioned he’s the guy who made the 2021 Morgan’s and peace dollars happen
I wish the W cent and nickel program had made it. Why skip the last nickel? Kinda dropped the ball
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I'm anxious to see down the road the results of the upcoming Congressional investigation (or something like that) of the Mint's decisions and practices on issues that have been hurting collectors on limited production items.
My solution has always been, before a production limit is set, to have a one week open order period, and then set production to that level that's ordered. This way any collector that wants an item is guaranteed to get it!
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
I missed out on the 1 minute sell outs so I’m curious to see what’s next for the Mint.
FOMO happens when you can possibly not miss out. When you are virtually guaranteed to miss out, it leads to apathy….
Oct 1 is the start of the federal fiscal year. Resignations are common to align with the money year so the new guy can come in and commit the annual funds aligned with their agenda. After a month or so much of the year is spent executing the commitments previously made with little ability to change course.
11.5$ Southern Dollars, The little “Big Easy” set
“The article mentioned he’s the guy who made the 2021 Morgan’s and peace dollars happen”
Like they weren’t happening when I was asked about them nearly 20 years ago, 10 years ago and then 5 years ago when they commemorated the 1916 Walker, SLQ and Mercury Dime! 😂
Silly thought- might the plot thicken if he starts work some day, one day at one of the yet unnamed FOIA outfits! 😝! My fun attempt to write a fictional best selling novel about life in the coin biz!
Wondercoin
This, to me, is his real legacy.
He made it difficult or impossible to keep sets complete without paying exhorbinant prices on the secondary market. I've missed out on some SEs that I will likely never own. So, maybe I'll just stop collecting them.
My solution has always been, before a production limit is set, to have a one week open order period, and then set production to that level that's ordered. This way any collector that wants an item is guaranteed to get it!
Then all the dealers will be singing in unison, Where have all the rarities gone? Collectors have picked them every one...When will they ever learn?...when will they ever learn?
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Peter Paul &Mary? Mr.1874? Sang it I think 🤔
🎶 shout shout, let it all out 🎶
That's ok... imagine a Zenn diagram with all the things I think are funny mostly overlapping with things other people find funny. The 'AI on noodles' may be in the area that does not overlap...
My son buys & sells & collects these little plastic statue guys. Same deal,,,,,,, VERY hard to get an order in. They sell out in a matter of minutes. Same problems,,,, Web Site freezes up,,,,, page not found errors,,,,,, We both tried for a new release statue last night but were shut out.
No big deal. I stopped buying from them years ago as they don't care about collectors.
As long as they make coinage for commerce, I am OK,
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Grandam are they the funky pop statues?
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No, Kaws from Japan.
There won't be a new Mint Director. The Senate won't approve anybody.
I have heard of them and believe I have seen them on pawn stars as well
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It certainly seems that collector coins (numismatic products) are paying more than their fair share vs. circulating coins. As in almost all the fixed costs are charged off of numismatic products, making them much more expensive (most commemorative programs have registration about not costing the taxpayer anything).
It will be interesting to see what a seasoned government finance professional makes of the situation and what changes occur. Especially with at least one OIG investigation going on.
ANA 50 year/Life Member (now "Emeritus")
Fair enough. good points and appreciate the honesty.
My frustration is I love the coin biz, hobby and marketplace. And when I continue to perceive the negative forum crapping on the Mint after such relevant and creative product releases it tests my human patience. Yes the V75 was an excellent intention that was ill conceived and counter productive to satisfying demand for the product and Mint responsibility to serve the public. I believe they are learning those lessons. The Morgan/Peace rollout is a giant success overall. The ordering processes were initially flawed whether its bots or website or both that has improved in my experience. Probably will never be a perfect system but is much better and the pre ordering system I think retains value in the product and demand/value stabilizes long term IMO with this system. As has been mentioned you will never satisfy everyone. We all know the quote "you can please some of the people some of the time........
As a 40 year collector and seller it is so inconceivable to hear such acrimonious negativity of the Mint when there is currently such great product in the pipeline. These products will stimulate such interest that it will benefit the marketplace immeasurably for classic modern and novice collectors. Lets embrace the moment as an opportunity to utilize the marketing push of tribute products for educating and broadening the collector base. When I read major market makers "surprised at the success" of the Morgan/Peace program I shudder that they can be so close minded and inflexible.
As a hobby, the stakeholders are so parochial and arrogant they cannot see the opportunity these products present? Very disturbing. Philately ring any bells?
For g-ds sake lets take the time to criticize the Mint for its faults and inefficiencies and PRAISE the Mint for offering up some recent awesome tributes and quality of product.