The Mint is Playing Games with the Privy on the Flowing Hair Gold Release...
treybenedict
Posts: 422 ✭✭✭✭
FYI - a couple of forum members posted about the Flowing Hair Gold Release having a Privy mark. They are not wrong, the Mint uploaded photos this morning of the privy coin and left them up for about 15 minutes before taking them down. I have been writing about this release on our blog since early July - you can read that article here if you so choose: Link.
Anyways, this is not the first time the mint has done something like this, they did it with the silver medal, randomly updating with a silver privy days before the actual release. The Spec saying "Privy Mark": None, means nothing. The silver and gold releases both say none, but there is a silver privy.
Here are the official images they uploaded, my guess is that they will likely be auctioned off as the first 10 (as the original CACC meeting notes say) and randomly distributed to buyers after that.
Comments
I knew I wasn't imagining those images. I wish I got the other 2 or 3 images before they took them down.
I had to back you up. We can't all think we are going crazy.
Much appreciated. ☺️
Will it be 1,794 coins again?
I'm thinking 230.
These end slideshow coins had privy marks on them this morning.
They are now repeats of the beginning slideshow.
Multiple videos coming out now on youtube with the privy being confirmed on the site.
I think you are probably on to something about them being the coins being auctioned. I also think @Goldbully is on to something with the number being 230, as opposed to 1794, or anything else. Because something around 230, individually numbered or not, paired with silver medals or not, sounds about right for an auction.
If that is the case, there would be absolutely no reason for them to randomly distribute anything to anyone without announcing that fact to the world. Because they would want to use them to stimulate sales, if that was the objective. Not just have a secret lottery that people don't learn about until after the fact.
Otherwise, they are going to want to capture the massive premium for themselves. Which is the whole point behind the auction in the first place. To create something special, and sell it a huge premium.
Anything else is just wishful thinking, based on nothing other than they did it with the silver medal. Just keep in mind that they did that to sell 75K medals that otherwise might not have sold at the premium they charged. And, most importantly, they announced it ahead of time. The privys didn't just show up in people's mailboxes.
The fact that those images exist strongly indicates that the coins exist. The fact that they disappeared from the website in 15 minutes, with no explanation, strongly indicates they are not part of the sale next Thursday.
With the medals, the privy images never disappeared, and the Mint followed up the posting of the images with a description of the lottery. Didn't happen here, because it's not happening this time. They apparently believe they can sell 17,500 gold coins, even at a $1,000 premium to the price of gold, without a lottery.
That leaves us with the auction. Which is actually a brilliant idea. Because it gives people wanting something very low mintage something to chase, and it allows the US Treasury to capture the value for itself, rather than giving it away to favored large dealers, with very small crumbs going to very few, very lucky, retail purchasers.
Here's a good one!
Screenshot from above YouTube video.
I think it would be funny if the majority had the privy and only 230 DIDN’T have a privy! 😂
$10,000,000
Potentially $100 grand for a one hundred cent gold coin with a privy mark!
Janet Yellen, Treasury Secretary and ex Fed Chairperson, certainly knows how to make money. Probably has her coin already pre-selected to keep as a memento before her likely early retirement on Jan 20th. What a country.
My US Mint Commemorative Medal Set
Mr_Spud