2022 Morgan and Peace dollars
cheezhed
Posts: 5,908 ✭✭✭✭✭
I just got the mint Christmas catalog and on the inside of the cover it says that the program will continue in 2022 and beyond. Not sure if this was posted.
Many happy BST transactions
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What was the exact wording?
I don’t have it in front of me I’m at work but pretty much wording is what I posted.
I was curious as to whether we get numismatic coins or bullion coins
That surprises me.... Will have to read that when it arrives (should get it today or tomorrow). Cheers, RickO
I had a feeling this was going to happen. Now I'm wondering what finishes will be used to promote "first evers" like the "first ever" reverse proof Peace Dollar. "First ever" enhanced Morgan. What category will these fall in...silver dollars, commemoratives, bullion, resurrection???
Perhaps they will continue in the great tradition of this year. More junk🙀
🎶 shout shout, let it all out 🎶
So does this news help or hurt the 2021 prices?
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I am a little disappointed in the decision to continue the two products. I liked them better as the centennial tribute.
I think it hurts them somewhat.
The Congressional act does allow for 90% or higher silver content, as I linked to it in some other threads. It did say bulk distribution was allowed, as are proofs, or other finishes. It did not state an end date like most of these authorizations.
My US Mint Commemorative Medal Set
I had a thought. I’m know it won’t happen but just imagine circulating clad versions full size like the Ike’s. Now that would be nice for collectors.
Martin
Deleted
Maybe the 2022 mintages will be higher making the 2021 "keys"
The mint would sell used lids from tin cans if they thought someone would buy them. The decision diminishes the whole idea (which I kinda, sorta liked).
High profit item. Introductory run sold out quick. Not a tough decision for the marketing dept.
Makes the balance sheet look good to Congress.
Might be a little early to judge the success of these coins. One thing for sure is they have quality issues that have “tarnished “ ( a funny) their reputation on these. Not to mention crushing a bunch of souls along the way. Wait 5 months for a questionable product. My guess is that they don’t care much and figure we’ll forget about the mess and roll out a glossy new special. Quality be danged. Imagine how many different ways they can mess up a proof 🙃
🎶 shout shout, let it all out 🎶
"... tremendous amount of interest ..." does suggest that they would likely increase the mintages and the varieties of associated products.
This is purely RUMOR but I saw this posted through Reddit:
r/coins
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Posted byu/Smokescreen69
5 days ago
Just did a survey for US Mint, found out they are planning to do a 2022 uncirculated, reverse proof and proof Morgan dollar. Thoughts?
They are going to the well too many times, as they tend to do.
I predict that mintages will drift lower over the next few years until the 2021 issues won't be the low mintage coins.
Like most coins released low mintage in the beginning then hi in the end. I think the proof and rev proof will look nice but there will be a boat load, The New Key’s 2021 peace and Morgan’s like I said before a gift that has not been recognized yet from the mint. But that’s just me dumb Type2 thinking.
Hoard the keys.
How do you get the Mint's Christmas catalog?
These will be extremely common and available coins. I sold my 2 Morgans and 1 Peace at a small profit. I have no interest in collecting this series. I will stick to collecting the vintage Morgan and Peace dollars.
It has been a while since I did it, but I think that this is the current process.
Note - If you add your name to the list now, I do not know if you will receive the '2021 Holiday Gift Guide'.
If they are setting this up for 2022 "and beyond", they should consider an enrollment program for at least the basic offerings in this product category.
- Ike Group member
- DIVa (Designated Ike Varieties) Project co-lead and attributor
Their balance sheet is dominated by bullion sales and seigniorage. Commemorative issues don't move the needle at all.
Buy from the Mint. They'll send you one.
Wrong thread sorry 🙃
🎶 shout shout, let it all out 🎶
I think this will hurt the value long term.
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I'm pretty sure they separate the seigniorage from the coin programs. They must to evaluate profitability of new product. Much of the product has been net losses. Morgan/Peace is a winner....so far.
Will they bear the 2022 date or continue to celebrate the 2021 centennial with different finishes?
They do. But when you show a multi- billion dollar profit, how much do you care about the couple million?
My mint catalogue went into the recycle bin
Those that had enrollments that covered the Morgan’s, was it your Silver Eagle enrollment that covered the Morgan’s or a separate enrollment?
There were no enrollments that generated a Morgan/peace order
Law dictates the year on the coin must be either the year minted or issued. They have an exception for coin shortages that harkens back to the mid-60s
Coin dealers when they realize they bought too much 1921 Peace Dollar inventory
Buy something from them -
"When they can't find anything wrong with you, they create it!"
I don't know how they amortize development or what the actual costs related are, but if you take the retail price minus the planchet cost what do you get? I think in the 60-70M 1st year. so not great but.....success!
I'm happy to hear this and expected it. For those who are unhappy about it, that's your prerogative; you're under no obligation to participate in the Morgan/Peace dollar program.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
You are WAY overestimating the profit for the Morgan’s and Peace if you think anywhere in the $60-$70 Million range…
How did people get so many then?
The CC & O had a HHL of 10 which was later lowered to 3 for the iother releases.
At noon on the next day they removed the HHLs. Thus an op for the morning crowd
What is known as the Friends and family network
ABPP were allocated 10% of each offering…
To all
I copied the appropriate paragraph of David. J. Ryder's
letter contained in the 2021 Holiday Gift Guide Catalogue.
Wayne
Kennedys are my quest...
and beyond.
oh no
In 2020, the total seigniorage was $549 million. [Actually less than I thought.]
In 2020, the total bullion net income was $46 million.
In 2020, the total net income from numismatic coinage was $12.4 million.
You can get some idea of the cost of production by looking at the silver eagle sales through the Mint. Total "silver product" sales were 794,000 units. The gross costs of those was $45 million which is $57 per coin. That makes the estimate of the cost of the Morgan and Peace dollars at $61 million. Total retail price is $90 million. So, sure, maybe they made a gross profit of about $30 million. It's not nothing. In fact, it's significant by numismatic coin standards as the $12.4 million in 2020 was the most in a decade. But compared to the seigniorage...
That's why the MInt, up until recently, never really cared that their annual sets were huge financial losers. In fact, they LOST $11.7 million on them in 2020.
That's only like a dozen people
I wonder if they'll go nuts with the mint mark options again. Instead of the O and CC privies, they'll throw in a W alongside the P, D and S.
Throw a coin enough times, and suppose one day it lands on its edge.
In a perfect world the Mint would revert back to the good old original circulation finish. Unfortunately, in the real world, some customers would receive stunning specimens and everyone else would return theirs.