Any bets on Sacs in the 2003 Proof and Mints sets?
LanLord
Posts: 11,718 ✭✭✭✭✭
Will there be any? Will they both have them? Just kind of wondering.
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New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Kranky...touche, my friend.
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
Kranky nailed it. Considering the market they found with the 2002 Kennedy's, they can see there is better money to be found in making coins only collectors want. They already sold out of the rolls for every year they had posted last time I was at the web site. Only Sacs to be had were in the uncirc and proof sets and in bags of two thousand (unless you count those mounted in jewelry or knicknacks). Don't be surprised if the 2003 comes in rolls, bags of 2000 and bags of one (or two) hundred coins. JMHO.
Kris
"I think I have finally lived long enough to realize that the big man in the sky aint talking" Ogden Nash
"When all you got is a hammer, everything looks like a nail"
And for the collectors that want to, they can.
I guess nothing is wrong with your scenario IF the coins are minted for collectors (with a bit of care); but, when they are produced for circulation AND not distributed, then in my mind, it is just inappropriate to sell them at a premium. Send those coins out through channels and let them be acquired at face value.
That's not the Mint's job, first of all. I don't have any problem with covering their costs for coins specially made and packaged for collectors (like proof and mint sets). The Mint's job is to make enough coins for circulation to satisfy the demands of commerce. The Federal Reserve didn't need any Sacs or Kennedy halves for commercial needs in 2002, but the Mint made quantities over and above what was needed for sets anyway so they could sell them at a profit. There was no justification for it except profit.
But as they become more and more focused on profit, where do you draw the line? For example, let's say they are pleased with how much they made on selling rolls and bags of Kennedys and Sacs. Maybe next year they mint only half the quantity, but double the price. They could make the same profit for a lot less work. Do you want to pay $70 for a roll of business-strike Sacs?
I can just imagine the outcry if the USPS decided to charge 60 cents for certain first-class stamps just because they didn't feel like making very many of them.
I apologize to those of you who are tired of reading my rants on this subject, but it is a sore spot with me.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
This is strange.Look.The Mint/Government is sending mixed messages here.On one hand they say`Go ahead and spend those new golden-colored dollars,after all ITS MONEY.USE IT.
Then they offer 02s and what ,now 03s mainly for collectors and none will be entered in to offical circulation.
What,We are to buy oridinary bussiness strikes at a premium,but shouldnt worry about just spending them at face???
What.??/?
/????