Why buy from the mint?

RLinn

I quit buying form the mint back in the 60's with the advent of the SMS sets. (I'm sure many of you may think me wise or foolish depending on your preferences) I know there are alot of folks who buy "made for the market items" (proof sets, commems, bullion, etc.) directly from the mint. These items were never made with the belief that they would circulate. Many of these items sell on the secondary markets for less than their mint purchase price. I know these losers, however, don't represent the entire market. There are always rarities in these mint offerings as well. Most of the time these rarities can't be determined prior to release to the public even though they represent a significant upside potential for the owner. My question is do people buy 1) believing they will find rarities, 2) they just want a complete set of something, 3) thinking all mint produts are good investments or 4) some onther reason?

Gilbert

Well, because I naively thought they were really catering to the collector and I didn't think it made sense to not buy directly from the issuer as opposed to buying an item that has passed through a few more hands than necessary; but now I feel like they're only interest is the almighty dollar, and I really don't like doing business with an entity that I have to continually return products to.

nwcs

I buy from the mint for several reasons. For original packaging of items, to make sure I have at least one of everything that is circulating (mint/proof). And occassionally I'll spring for a commemorative. But it has to be a good one. I don't shoot randomly in the dark. Although the prestige sets I got in 88-91 really suck. But I have picked up a 1986, 1987, and 1992 prestige set. Mainly so my other ones won't feel as lonely.

Neil

nucklehead

I hav'nt bought from the mint for over a year and I've got to say I'm much better off.The last coin show I attend I bought a real nice 2002 silver proof set from Strat and was allowed to look at as many as four sets before I bought anything, to me that's well worth the few bucks extra that I would have given the mint to send me something I might have had to send back. Just read this board after something new comes out and see how many people are not happy with what they got.

cladking

It's all those reasons. Many believe that if the mint made it then it's a collectible.
It's a real wonder that the mint was able to sell so many mint sets. Proofs are un-
derstandable since many collect proofs, but how did they sell mint sets. There is
no evidence that more than a handfull of people were collecting the coins made
since the SMS's. There are lots of ways this evidence would show up and it's just
not there. Whitman didn't even make folders for dimes and quarters until 1984!
Yet they usually sold a couple million mint sets each year. And it's not like they were
cheap or something. These usually sold for about double face value and in those
days the mint always claimed that mint set coins were identical to the coins made
for circulation. They weren't, of course, but one had to look to see, and for the main
part no one was looking.

It used to be almost always a loss to buy from the mint. If you waited just three or
four years the sets would be available on the secondary market for far less. There
was a real shortage of buyers for these and they kept pouring onto the market when
the original owners died or tired of holding them.

jhar

I've only bought a couple of things from the mint. I bought a 2000 proof set and a Buffalo Commem. I bought both of them for the simple reason that I thought they were neat and I wanted them. I haven't bought anything from them lately because I don't see anything I really want, except maybe another proof set, or SAE. I'm not really hot on either of them because I would rather spend my resources on some nice Morgans, and books.

Russ

<< <i>Why buy from the mint? >>



Judging by my first experiences doing so this year, I'm asking myself the same question.

Russ, NCNE

DeepCoin

If you collect any of the modern coins, then you have the same chance as the big dealers in getting coins from the Mint. I buy the unc and proof sets for my collection and also the SQ rolls (I know they are overpriced but having them in the Mint packaging has value for me).

Why pay more from a dealer? I buy from the Mint kiosk in Union Station in DC and dont pay shipping or tax. You cant beat that.

I do not collect slabbed moderns, I just enjoy the hi tech proofs made these days. I do have an offbeat Merc registry set.

KlectorKid

naa u can get the same coins on ebay for less thats where i buy my gold eagles now.

jtryka

I mainly buy the sets so I can continue to have my collections updated. It's awfully hard to find 2002 Kennedys in circulation (the latest I've found was 2000) and jsut easier for me to get a mint set. Same thing with the proofs, as I need them for my Lincoln, Jefferson and Roosevelt sets.

09sVDB

As a matter of fact up until about a month ago I owned a complete run of mint and proof sets from 1968-date. Also, a complete set of SAE's and various commems. I sold it all! I will not buy any mint products again and will concentrate on classic coins only. The mint stuff just doesn't appeal any more. My lastest purchase with some of the $$ I got was a PCGS64 1926D SLQ.

dpoole

I've bought from the Mint over the years almost entirely for (2): I want a complete collection.