Is anyone else upset by the attack on MCM in the 2/27 issue of CW??

RaufusRaufus Posts: 5,815 ✭✭✭
I was very much enjoying reading the 2/27 issue of CW which arrived today until I got to the "Guest Commentary" attack on MCM on p. 14

The author contends that MCM violated the "spirit" of the household limit "law" by putting out a buy offer for the 25th sets prior to release.

Beyond the fact that MCM was not the only one to do this AND the fact that MCM did nothing illegal, I find this very public attack on such a fantastic company infuriating.

I think that MCM, perhaps more than any other company, has MADE the market for moderns. I've bought from and sold to MCM many times. They are one of THE BEST companies with whom I've ever dealt. Beyond that, what made me so mad about the article is that MCM has done so much for moderns and the modern market that such an attack is particularly inappropriate - not to mention that several other dealers did the same thing.

Sorry for the rant, but it really irks me when a great company is impugned in public for doing absolutely nothing wrong.

I hope that CW lets John publish a rebuttal if he so wishes.

Edited: I should add that the piece is entitled: "Firm's acquisition of 2011 sets, while legal, is troubling." Guest Commentary by Richard L. Francis J.
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Comments

  • jessewvujessewvu Posts: 3,905 ✭✭✭
    I haven't seen the article but if they are saying that MCM being a business and operating as he sees fit, and within the US Mint's intent on the distribution of the coins, then shame on the author. If you take the time to call the US Mint and ask if you can have friends buy coins for you, the answer is YES. If you go a step furthur and ask if you can buy a coin that has a limit, and have your friend buy them for you also, the answer is still YES. The ONLY thing the mint requires is the HOUSEHOLD limit not be exceeded. Some folks have way too much time on their hands and if I were to guess, the author is probably over 65 years old and is ticked he didn't make a ton of money on the sets.

    I can absolutely guarantee that if the sets were worth equal or less than what MCM paid, nobody would be bringing this up. Food for though.
  • blu62vetteblu62vette Posts: 11,048 ✭✭✭


    << <i>I haven't seen the article but if they are saying that MCM being a business and operating as he sees fit, and within the US Mint's intent on the distribution of the coins, then shame on the author. If you take the time to call the US Mint and ask if you can have friends buy coins for you, the answer is YES. If you go a step furthur and ask if you can buy a coin that has a limit, and have your friend buy them for you also, the answer is still YES. The ONLY thing the mint requires is the HOUSEHOLD limit not be exceeded. Some folks have way too much time on their hands and if I were to guess, the author is probably over 65 years old and is ticked he didn't make a ton of money on the sets.

    I can absolutely guarantee that if the sets were worth equal or less than what MCM paid, nobody would be bringing this up. Food for though. >>



    Disclaimer: I have not read the article.

    If they were singled out that is really unfair as many were offering premiums.

    If the sets went down and they lost money I doubt the contributing editorial writer would have felt bad for them and wrote the article. Very one sided to me.
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  • Someone in my local coin club was furious at the quick sell out because they had to work that day and had zero chance at a set and that some dealers had hundreds of sets for sale a short time later. So I think the letter expresses the sentiments for many collectors. Everyone is entitled to an opinion, so in answer to the question, no. Why would I be upset, that someone else is upset?

    Personally, I think MCM played by the rules. However, I think the rules were bad and that the mint should have done a one per household limit at least for the first 24 hours.
  • BarndogBarndog Posts: 19,157 ✭✭✭✭
    there is no shortage of people who will whine no matter what

    and MCM is Modern Coin Mart, a darn good company if you ask me
  • TwoSides2aCoinTwoSides2aCoin Posts: 37,381 ✭✭✭✭
    Well there's a benefit. It doesn't matter if they talk bad or good about a guy, so long as they talk It's free advertising.


  • << <i>Well there's a benefit. It doesn't matter if they talk bad or good about a guy, so long as they talk It's free advertising. >>


    image
  • 19Lyds19Lyds Posts: 26,224 ✭✭✭
    I though the piece was really out of line.

    This particular practice is employed quite frequently. I even do it myself using my relatives where possible since I can recongize a marketing opportunity. And this one was the ultimate from the day it was announced.

    I do feel sorry for the folks that do not understand how the coin business actually works and truth be told, I'm a little pissed I didn't purchase a 2001 Buffalo but I certainly do not hold it agaimst thopse folks that had the foresight to purchase extras and then make a couple of bucks!

    When the 2011 Anniversary Set was announced, I knew immediately that it would be a winner. What I did not anticipate was such a low mintage and the relatively high per household limits. When that was announced, I did everything in my power to insure that I got 5 sets. I did not get the 10 sets I'd hoped for but I surely am not holding it against MCM. It is, after all, a free market and if folks do not understand that simple concept and the fact that the US Mint is simply selling products, then perhaps they should collect beanie babies.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



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  • derrybderryb Posts: 23,428 ✭✭✭✭
    CW should have shown better taste than to let someone else attack MCM on CW's dime. Freedom to buy and sell at a price dictated strictly by market forces drives the coin market (and any other true market). If I were MCM I'd spend my advertising $ elsewhere.

    “Compound interest is the eighth wonder of the world. He who understands it, earns it ...he who doesn't ... pays it.” - Albert Einstein

  • Nobody need articles that question their business practices and to make matters worse a major publication Shame on them for allowing that article to run. In my dealings with MCM they conducted themselves in the most professional manner and I should hope CW allows at least an answer or rebuttal.......IMO.......
  • Coin World sucksimage image
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  • BroadstruckBroadstruck Posts: 27,445 ✭✭✭


    << <i>Coin World sucksimage image >>



    image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • Having done business with MCM on several occasions with nothing but satisfaction, I also think this was out of line (in fact, I had a package arrive from them this AM).

    Personally, I think how the Mint (mis)handled the initial sale of the ATB bullion coins through its "preferred" dealer network was much worse than the 6-hour sellout of the anniversary sets! Assuming you tried hard enough on the first day, you had a basically decent chance of successfully placing an order.
  • wondercoinwondercoin Posts: 15,078 ✭✭✭
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • RaufusRaufus Posts: 5,815 ✭✭✭


    << <i>CW should have shown better taste than to let someone else attack MCM on CW's dime. Freedom to buy and sell at a price dictated strictly by market forces drives the coin market (and any other true market). If I were MCM I'd spend my advertising $ elsewhere. >>



    Your point about the advertising is spot on. I hadn't even thought about that aspect of this.

    P.33 is a full page, color MCM ad.

    I can't imagine how much MCM has spend advertising in CW over the years. It seems like there is always a one or two page full color ads in every issue. They are usually my favorite ads in any issue as they give a feel for the Moderns market.

    Just amazing that they'd publish this hit piece on such a loyal advertiser (and truly great company).
    Land of the Free because of the Brave!
  • jmski52jmski52 Posts: 17,979 ✭✭✭
    A few well-written rebuttals to Coin World might be in order. I've bought from MCM recently and found them to be just fine.

    All they did was to make a market in a new issue. All indications are that they played totally above-board, and that's been their history on BST as well. The article blames them unfairly for other people's behavior, which is idiotic.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Free speech anyone?
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  • SonorandesertratSonorandesertrat Posts: 4,228 ✭✭✭✭
    "I though the piece was really out of line.."

    image

    And I do not collect or even care the slightest bit for modern mint products. MCM did not do anything even remotely unethical.
    The writer of that guest commentary [Feb. 27] to CW was WAY off base. Many of the buyers of these Mint sets are simply buying
    them to flip them, so his point is moot. The notion that lots of people rushed to order sets because a dealer advertised to buy
    them before they were sold out is risible. Buying mint products to flip them has been going on for years. Get over it.
    Member: EAC, NBS, C4, ANA

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  • wondercoinwondercoin Posts: 15,078 ✭✭✭
    "The author contends that MCM violated the "spirit" of the household limit "law" by putting out a buy offer for the 25th sets prior to release."

    The "spirit of the household limit" is that a household should not get more than 5 sets max... right? The US Mint came up with the number of sets available for the household limit after careful research and consideration and, if they came up with a number that was (hypothetically) upwards of 5x more than it should have been for most collectors out there, then where does the problem truly lie with folks taking advantage of that household limit to essentially end up with their set for free (or even 2+ sets free) by selling off the other 3 or 4 sets to whomever they chose to? So, that writer acknowledges that nothing illegal had taken place. But, also, if the US Mint did not want collectors to buy more sets than they truly wanted to keep for their collection (i.e. if that was indeed the "spirit" of this offering), then couldn't the Mint have just simply stated that? Just like the Mint clearly set up rules for collectors to only buy as many Pres $1's as they intended to spend in commerce and not to bring to the bank to capture some quick credit card points.

    And, I do have no problem with the commentator's free speech. Things should be discussed openly as we are doing here ... that writer had every right to write what he felt in this free country. MCM has every right to respond fully to the assertions in that piece.

    Side note... if you think these 25th Anniv. sets were hard to come by ... did any try to get (great) Springsteen tickets this month? I need to sell a heck of a lot of 25th Anniv sets I am buying on the open market to raise the money needed to take the family to the Springsteen show!

    Just my 2 cents.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • TwoSides2aCoinTwoSides2aCoin Posts: 37,381 ✭✭✭✭
    Freedom of speech is a good thing. So is a good bit_ _ session.
    Let's just realize who is who what is what. I'm for the dealer offering great collectibles to people who enjoy collecting and I'm for the freedom we enjoy to whine about not getting what we want and blaming someone else for it image

    That's laughable and I did not read the article. Anyone who knows where a good fishing hole is, goes there when he wants to fish, but if someone got there first who's at fault ? The early bird ?
  • lkeigwinlkeigwin Posts: 13,382 ✭✭✭✭✭
    The thing is, everyone's worked up about "fairness".

    "I didn't get my chance", "Dealers are swimming with them", "Should have been one per household", etc.

    I am so tired of people thinking life should be fair, democracy should rule, everyone deserves an equal chance. Sometimes it's about business!

    For many companies best customers get preferential treatment. That's how I run my business. Maybe the Mint should take care of its oldest and best customers first and let newcomers wait in line.
    Lance.
  • Why single out MCM??.........why not list every single person who offered to buy then and now??......where is the end?...........just because SOME could not get what many did is no reason to bash those that got.........just another part of being politically correct and trying to give those that don't have or didn't get..............sour grapes have no business in business..........would all those that didn't get be happy if they received 1 free set from the mint for the fiasco......probably not they would want to 2 .......as always IMO (edited)
  • <<Maybe the Mint should take care of its oldest and best customers first and let newcomers wait in line.>>

    Oh but just wait until the next hot Mint product comes along. I was recently reading that they might have a 1 per HH limit or even attempt a "lottery" system! Just imagine how well that circus will work out!
  • kiyotekiyote Posts: 4,407 ✭✭✭
    Did he actually buy any for $360? Most folks I know had dollar signs in their eyes, myself included, and were thinking these were $1000 sets by X-Mas easy.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • RaufusRaufus Posts: 5,815 ✭✭✭


    << <i>A few well-written rebuttals to Coin World might be in order. I've bought from MCM recently and found them to be just fine.

    All they did was to make a market in a new issue. All indications are that they played totally above-board, and that's been their history on BST as well. The article blames them unfairly for other people's behavior, which is idiotic. >>



    I just sent my (hopefully well-written) rebuttal.
    Land of the Free because of the Brave!
  • ebaybuyerebaybuyer Posts: 2,992 ✭✭
    i find it comical that there are still so many people willing to play the mint's game. every week there is someone whining about poor customer service, orders that arent filled, or some other form of "disappointment" at the hand of the US mint and yet the sheep continue lining up to be disappointed. if the sheep were to unite and not buy a single thing from the mint for one year... i GUARANTEE the game would change. let the dealers stock up on all the latest overpriced junk the mint has to offer. and in a year or two, buy it from them at 50% or less of issue price. the mint creates a limited mintage item, then limits how many each person can buy, creating an instant furor of sheep trying to get more than thier share, the people at the mint must be giggling just wondering what will be the next big thing that the sheep wont be able to live without
    regardless of how many posts I have, I don't consider myself an "expert" at anything
  • PerryHallPerryHall Posts: 34,110 ✭✭✭✭
    Sounds like free market capitalism to me. And getting upset over a letter in CW is just plain silly.
  • RYKRYK Posts: 35,246 ✭✭✭
    Nothing to get upset about. The author wrote a well-articulated opinion piece, and they published it.

    If you want to get more upset, open the WSJ or NYT and read the editorials and opinion pieces that you do not agree with. Some are much more upsetting because they are written by professionals who are much more skillful at slanting facts and swaying opinion.

    For those who argue that "life ain't fair" or "it's capitalism so it's great", just remember that when you get hosed in the housing market, mortgage market, stock market, a coin auction or even some trivial eBay purchase. I am sure that these words will be of great comfort to you.


    "An early-morning walk is a blessing for the whole day."--Henry David Thoreau
  • Rules are rules MCM did not do anything that was illegal. So if you do not agree with the mints rules change them. I think that if the mint has any true interest in the collector's interest these rules would reflect such. Bulk dealers pay the bills at the mint. Your average collector can not and will not spend the money to purchase 500+ sets of anything. Most of the time the immediate public demand does not meet the demand needed to meet selling requirements that the mint needs to maintain...... ie dealers save the mint. The 25th set just struck issue because this was one of the rare products that the mint has produced that public demand was large enough to exceed mint production. So you have the back lash.

    Next time maybe the mint will change things, but don't hold your breath. Look at this set as a gift to the dealers, kinda like the mint saying thanks for saving us on everything else we make.....lol
  • astroratastrorat Posts: 7,144 ✭✭✭


    << <i>Nothing to get upset about. The author wrote a well-articulated opinion piece, and they published it.

    If you want to get more upset, open the WSJ or NYT and read the editorials and opinion pieces that you do not agree with. Some are much more upsetting because they are written by professionals who are much more skillful at slanting facts and swaying opinion.

    For those who argue that "life ain't fair" or "it's capitalism so it's great", just remember that when you get hosed in the housing market, mortgage market, stock market, a coin auction or even some trivial eBay purchase. I am sure that these words will be of great comfort to you. >>

    image

    Edited to add ... CW is a "newspaper" whose goal is to sell copy. The editors will print what they feel will bring readers to their paper. It may be disgusting, but such is the way of the free press.
    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • I don't have a problem with the letter as most people will have a problem with people taking opportunistic profit at their expense if they fall on the "have not side". That said I don't have a problem with what MCM did, if anything the writers anger is misguided to the resellers where it sounds like his real objection is with the people who bought 5 and never opened the box before selling.
  • TwoSides2aCoinTwoSides2aCoin Posts: 37,381 ✭✭✭✭
    I'm more upset that llafoe is in a foreign country fighting for people who whine about the dumbest things.
  • wondercoinwondercoin Posts: 15,078 ✭✭✭
    My wife (a registered nurse of 20+ years) had these thoughts on the subject (from an "outsider" point of view) that were very interesting to me:

    1. Folks asking a dozen or so people to buy these sets for them (whether family members, business customers, whatever) ... really nothing wrong with that in her book if these people are fairly compensated for their efforts. There comes a time when someone/some company simply has way too many people going after the sets for them that she thinks it "crosses the line". For example, what if a large company had 5,000 people going after the sets and was able to lock up 25,000 sets of the 100,000 total sets that way? She believes that would be "excessive" and unfair. She gave an interesting analogy... we go to this restaurant often that has a large bowl of boxed chicklets (chewing gum) to offer to patrons as they leave free of charge. It is there (presumably) for the patron to take a box or two of chicklets as a thank you from the restaurant. She pointed that taking 1 or 2 boxes is fine. But, the customer who reaches in with both hands and takes a large handful has pushed the limit and becomes "excessive". The bottom line is she believes one can be "fair in business and still very profitable".

    2. She applauds CW for posting the commentary. She feels that is how a newspaper is supposed to act. She hopes that newspapers put "politics" aside to fairly publish everyone's viewpoints.

    Just her two cents ... but I obviously need to cut back slightly on the number of chicklet packages I take from that restaurant after dinner (especially because it is not sugarfree).

    Wondercoin image
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • MCM probably has a contract with CW otherwise it might be a cold day in hades before you see another MCM ad in CW.

    Maben offered to buy coins from the general public? OMG, what is the world coming to? Next thing to happen is he'll probably offer to sell coins to the public.

    I admire his business plan and ethics. I wonder why CW doesn't publish other editorials about some of their other advertisers?....some of those lads have just a wee bit of dirty laundry out there. Some of their advertisers need to understand the difference between BU and slider, for instance. Some of their advertisers just plain need to understand.
    Have a nice day
  • RYKRYK Posts: 35,246 ✭✭✭


    << <i>My wife (a registered nurse of 20+ years) had these thoughts on the subject (from an "outsider" point of view) that were very interesting to me:

    1. Folks asking a dozen or so people to buy these sets for them (whether family members, business customers, whatever) ... really nothing wrong with that in her book if these people are fairly compensated for their efforts. There comes a time when someone/some company simply has way too many people going after the sets for them that she thinks it "crosses the line". For example, what if a large company had 5,000 people going after the sets and was able to lock up 25,000 sets of the 100,000 total sets that way? She believes that would be "excessive" and unfair. She gave an interesting analogy... we go to this restaurant often that has a large bowl of boxed chicklets (chewing gum) to offer to patrons as they leave free of charge. It is there (presumably) for the patron to take a box or two of chicklets as a thank you from the restaurant. She pointed that taking 1 or 2 boxes is fine. But, the customer who reaches in with both hands and takes a large handful has pushed the limit and becomes "excessive". The bottom line is she believes one can be "fair in business and still very profitable".

    2. She applauds CW for posting the commentary. She feels that is how a newspaper is supposed to act. She hopes that newspapers put "politics" aside to fairly publish everyone's viewpoints.

    Just her two cents ... but I obviously need to cut back slightly on the number of chicklet packages I take from that restaurant after dinner (especially because it is not sugarfree).

    Wondercoin image >>


    I appreciate your wife reading the commentary and offering her opinion and that you took the time to post it here. I am having trouble, however, connecting the dots on the analogy. If you took the bowl of chicklets and dumped it in to her purse, while you would be considered a chazer (akin to a greedy pig for those not versed in yiddish image ), the restaurant would refill the bowl and the next party to the leave the restaurant would be able to take a pack or two and life would go on. Additionally, you have not paid for the chicklets; it is a parting gift or courtesy.

    I also agree that there is probably some number of sets that would have been acquired that would cross the line. You/she suggested that 25,000 sets (out of 100,000) might be the correct number beyond which it would be excessive and unfair, and I would contend that there might be a lower number and someone else might contend there is an even higher number. Some would even agree that even if MCM (or you or I) legally acquired all 100,000 sets, it would be fair. Ultimately, fairness is subjective, and often the people making the money or getting the goods will find the mechanism fair and those not making the money or not getting the goods will find it unfair.


    "An early-morning walk is a blessing for the whole day."--Henry David Thoreau
  • wondercoinwondercoin Posts: 15,078 ✭✭✭
    RYK: So, you are telling me I am fine taking ever MORE chicklets than I have been?

    image

    I believe the 5,000 number was a mega extreme example in her book and posted here so as to not offend anyone (as there is no evidence anyone came even close to cornering a 25,000 set position). Her basic position though is that somewhere between a dozen, on the one hand, and 5,000, on the other, getting sets for someone/some entity (and everyone is free to subjectively determine where that number should be for them), a line is crossed from it be "OK" to it not being "OK". I thought that was a interesting conclusion to this "ethical" quandry.

    Wondercoin
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  • PoppeePoppee Posts: 147 ✭✭
    IMO All Mint releases should be limited to one per household the first week, then no limit.......
    image
  • PerryHallPerryHall Posts: 34,110 ✭✭✭✭


    << <i>IMO All Mint releases should be limited to one per household the first week, then no limit.......
    image >>

    image
  • BaleyBaley Posts: 19,432 ✭✭✭✭
    We take giant handfuls of the Chiclets from the bowl, and then set up a card table outside the restaurant, selling them for a profit. We select certain boxes for special giftwrapping and signed packages with expert opinions that these particular Chiclets are especially beautiful delicious and we charge extra for those. And people pay it!

    Liberty: Parent of Science & Industry

  • TwoSides2aCoinTwoSides2aCoin Posts: 37,381 ✭✭✭✭
    Hey, I had to pay more as a dealer than you guys who got them from the mint. It really doesn't upset me. However, if you talk about my beloved Huskers, I'm going to write ESPN. image
  • jmski52jmski52 Posts: 17,979 ✭✭✭
    MCM didn't make those people buy those sets. MCM didn't send them money to make the purchases in order to circumvent anything. MCM offered a premium for those sets and created a market. That's what market makers do.

    Now, some people used multiple addresses and multiple credit cards in order to buy extra sets in order to get around Mint policy. I'd say that those people showed disrespect for everyone else, and a bit of greed as well. MCM didn't do that (that I know of).

    What I find ironic is that these people who took MCM's offer ended up selling for $60/set profit. If they'd sold them later, they'd have made at least $400/set. That's what I find somewhat amusing. The neophytes and non-collectors who may have thought they were making easy money actually shortchanged themselves! HaHa!

    If you want to blame someone for anything, blame the Mint for their distribution policy and their mintage limits. All the Mint did was to draw people into another speculation over another of its product offerings. Standard practice, these days. Not very nice, but standard practice nontheless.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • johnny9434johnny9434 Posts: 16,145 ✭✭✭
    I never dealt with MCM but have heard very very little on complaints with them. Coin World thou is a different matter. jmo and they are entitled to there free speech just as i am
  • I don't subscribe to CW so I'm not sure what a guest commentary is. (ie, does it represent the views of CW?)

    I'm all for the free press -- hopefully they are looking at everyone with a critical eye!
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  • littlebearlittlebear Posts: 1,088 ✭✭✭


    << <i>CW should have shown better taste than to let someone else attack MCM on CW's dime. Freedom to buy and sell at a price dictated strictly by market forces drives the coin market (and any other true market). If I were MCM I'd spend my advertising $ elsewhere. >>




    Very well put.......


    Larry L.


    image
    Autism Awareness: There is no limit to the good you can do, if you don't care who gets the credit.
  • epcjimi1epcjimi1 Posts: 3,215 ✭✭✭


    << <i>The author contends that MCM violated the "spirit" of the household limit "law" by putting out a buy offer for the 25th sets prior to release.

    >>



    It's the nature of these buy offers that stink. It's one thing for a business to advertise that they are buying at a given price and the seller can take take it or leave it.

    It's another thing for a business to demand that once you agree, you absolutely, positively, step on a crack, break your mother's back HAVE to sell to them or else your name will be mud.

    A lot of people were taken advantage of by this tactic, I think.

    Just as ebay did not allow pre-sales before delivery of the 25th sets, I think BST listings by coin dealers demanding sellers to sell to them after delivery should not be allowed.

    Here's MCM BST buy offer language for the 25th set -

    <<2) Once we have your USM order numbers it's a non reversable deal. You must deliver sealed sets, and we must pay as agreed.

    5) You must ship the sets to us within two (2) business days of your receipt from the USM. >>

    I know I will never, ever get involved in a dealer buy offer before delivery again.

    My .02
  • PerryHallPerryHall Posts: 34,110 ✭✭✭✭
    I wouldn't be surprised if there is a rebuttal from MCM in CW in the near future.
  • RYKRYK Posts: 35,246 ✭✭✭


    << <i>I wouldn't be surprised if there is a rebuttal from MCM in CW in the near future. >>


    I sincerely doubt it. What are they going to say?

    "We are appalled at the guest commentary of 2/27/12 in which we were criticized for asking thousands of people to spend four hours on the phone and computer to make $60 per set so that we could make an additional $500/set and thereby prevent hardworking people from buying the sets from the Mint price and coerce them to pay multiples of offering price so that they could complete their sets."

    Gimme a break! Maybe they will ask their legions of set buyers to write letters for $10 off their next purchase. image

    Better yet, let the issue die.


    "An early-morning walk is a blessing for the whole day."--Henry David Thoreau
  • Type2Type2 Posts: 11,459 ✭✭✭


    << <i>"The author contends that MCM violated the "spirit" of the household limit "law" by putting out a buy offer for the 25th sets prior to release."

    The "spirit of the household limit" is that a household should not get more than 5 sets max... right? The US Mint came up with the number of sets available for the household limit after careful research and consideration and, if they came up with a number that was (hypothetically) upwards of 5x more than it should have been for most collectors out there, then where does the problem truly lie with folks taking advantage of that household limit to essentially end up with their set for free (or even 2+ sets free) by selling off the other 3 or 4 sets to whomever they chose to? So, that writer acknowledges that nothing illegal had taken place. But, also, if the US Mint did not want collectors to buy more sets than they truly wanted to keep for their collection (i.e. if that was indeed the "spirit" of this offering), then couldn't the Mint have just simply stated that? Just like the Mint clearly set up rules for collectors to only buy as many Pres $1's as they intended to spend in commerce and not to bring to the bank to capture some quick credit card points.

    And, I do have no problem with the commentator's free speech. Things should be discussed openly as we are doing here ... that writer had every right to write what he felt in this free country. MCM has every right to respond fully to the assertions in that piece.

    Side note... if you think these 25th Anniv. sets were hard to come by ... did any try to get (great) Springsteen tickets this month? I need to sell a heck of a lot of 25th Anniv sets I am buying on the open market to raise the money needed to take the family to the Springsteen show!

    Just my 2 cents.

    Wondercoin >>

    Every hot coin is hard to get so they put out a buy order to get what they can so they can sell the item we all did it i bought many sets off the BST and my 5 from the mint. They did not steal them they bought them just like any other dealer like you and me if some one is selling them you can buy them that is BS there is no law that says you cant do this. But to out one guy is not right What if they put Wondercoin in the line of fire or P.C.G.S or E-Bay I think some one will be saying sorry in there next issue.


    Hoard the keys.


  • << <i>Sounds like free market capitalism to me. And getting upset over a letter in CW is just plain silly. >>



    ...ditto. image
    "government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
  • epcjimi1epcjimi1 Posts: 3,215 ✭✭✭
    [qEvery hot coin is hard to get so they put out a buy order to get what they can so they can sell the item we all did it i bought many sets off the BST and my 5 from the mint. They did not still them they bought them just like any other dealer like you and me if some one is selling them you can buy them that is BS there is no law that says you cant do this. But to out one guy is not right What if they put Wondercoin in the line of fire or P.C.G.S or E-Bay I think some one will be saying sorry in there next issue. >>



    Wow.

    Ends justify the means I guess. Your description of the BST buy offers from dealers is very different than I recall.

    Question - does still = steal? Just wondering....
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