Do you realize that the US Mint..

Gemineye

That the US mint is drawing us more and more into spending our money.I used to be strictly a mint set and proof set collector with maybe an occasional extra from the mint.It started a few years ago the mint issued the extra buy with the SP nickels..then the Kennedy half then the satin and business strikes.
Special issues seperate to have a complete a set.When does it end..

Baley

When does it end..

why, when the market is fully saturated with new crap, of course.

xbob

Look at Canada (RCM). They are out of control with new offerings.

I am glad that so far next year isn't looking like a bank breaker for me personally. I just gave up Proof Set collecting (I was subscibing to 3 of each), I could care less about President Dollars but I'll own a Unc set anyway thanks to my P&D Mint Set subscription, First Lady gold - no way!, not interested in the Little Rock 9 Commem either. Ahhh... a breather year.

Then again, who knows what they'll come up with next?

Actually, I hope the come up with one awesome "must have". My 10th weddding Anniv. is in 2007 and my wife will need something to buy for me .

ScarsdaleCoin

I have stated this fact time and time again as they are pulling way too much money out of the market....the end result is that it hurts dealers because customers have a budget and are spending it for products that have no real secondary resale value..... a one oz gold buffalo is still worth 1 oz of gold!

Baley

a one oz gold buffalo is still worth 1 oz of gold!

oh no! if it's a first strike MS70, it's "worth" a LOT more than spot! someone, link some recent sales!

kranky

You could see it coming when the Mint started to crow in their annual reports about how much "profit" they are making. Seems like the actual job of producing coins to meet the commercial needs of the economy is a side job for them any more.

I really don't understand why collectors feel that all surface variations (satin proof, reverse proof, etc.) need to be included in order to have a complete set. If the collectors keep scarfing them up, the Mint will keep coming up with new ones. At least a date/mint set is limited to the number of mints!

LanLord

You see, these are the good old days of collecting.

We have enough stuff coming from the mint now that in a few decades, people are gonna say, "geeze, remember back in 1999 - 2008, there was a ton of really new things coming out of the mint. I wish we had it that way now!".

I figure sometime in the 2010 - 2020 timeframe, people will get tired of all the mint stuff, congress will cut back and it will be back to boredome ally for a few decades

291fifth

It ends when you start saying "no more" and stop buying. It happened before in the mid-1990's following the abusive Atlanta Olympics issues and it will happen again.

RedTiger

Yes, it is getting close to saturation level. Too much stuff being pushed out the door, and some of it is schlock. I think there will be a lot of duds out there trading at or below issue price after five years past issue date.

AlixTCat

I don't know. I've made quite a bit of money from turning mint garbage. I am happy every time they introduce a new coin or set. Usually, after they sell out, I can get 3x or more what I paid. Then I can buy "real" coins with the profits. I hope they keep it up. I don't believe it takes money away from any other market. People who are buying this stuff, collect only this stuff. If they didn't collect new mint items, they would not be collecting anything. They are not educated in other venues. As I said, the profits I make go right into the "real" coin venues. So, I actually think it is GOOD for collecting.

Jonathan

ABC123

Wake Up---It's been going on while you were sleeping ! Next year even more issues. Save your $$$$$

ksteelheader

Life is merely a series of choices. You either buy or you don't. What is so complicated about that???

ziggy29

Something about geese and golden eggs comes to mind.

coinmickey

I have stated this fact time and time again as they are pulling way too much money out of the market....the end result is that it hurts dealers because customers have a budget and are spending it for products that have no real secondary resale value..... a one oz gold buffalo is still worth 1 oz of gold!

An excellent point.

While I did not spend money on a gold buffalo I just spent the money I allocated to the Goldberg sale on the 2-pc Gold/Silver set the Mint put on sale yesterday (plus 2 of the 3-pc Silver sets). It is highly doubtful I'll bid in that sale now. I was also considering bidding in the upcoming Stack's sale and that's definitely not going to happen.

A few people here did rough tallies of the cumulative sales totals and figured total dollars realized- the sums the Mint is realizing on these issues is not inconsiderable, and none of it went to dealers. An interesting phenomenon....

Bochiman

Hmmm.....so, I should feel sorry for the dealers that the USMint is giving collectors something they want to buy, without the dealers getting a piece of it?
Dealers have a place in the ecosystem, no doubt about it, but the USMint started everything at one point or another for this hobby.

Jcarney

<< <i>the end result is that it hurts dealers because customers have a budget and are spending it for products that have no real secondary resale value >>



Huh? The 2001 Buffalos, the SQ Proof sets, especially the 1999 and 2001 sets, the Marine Corp Commems, Franklin commems. I'd say I get much better and quicker secondary resale value from new US Mint products than from anything I'd get from a dealer.

F117ASR

<< <i>
I really don't understand why collectors feel that all surface variations (satin proof, reverse proof, etc.) need to be included in order to have a complete set. >>



That's partly what makes us collectors. But I have to agree with the thread. This year I bought the Proof, SI Proof, and Satin Set. Next year probably the same but perhaps eliminating the silver. There is just way too much. This period of time will hurt little collectors in the future who want to catch up (of course they will probably get better prices than we did, but there is still a lot to own).

rgl1345

and how many of you posters bought the new silver or gold offering?????

TWQG

<< <i>Dealers have a place in the ecosystem >>

-- let's compost them!

fishcooker

Doesn't the Mint have a preferred provider list of dealers who get to buy both early and at discounts? They gotta be loving life as the mere mortals scramble to get Mint websites to work or phone lines to answer - it all adds up to more easy money for the dealers, not less.

zkcoins

I actually gave up most of the collecting from the mint. I no longer do proofs or mint sets. No commems, or AEs. I only buy the quarter rolls to finish my complete set of 50 state rolls and the ocasional splurge like the 20th anniversary sets.

Zach