Will the Mint learn its lesson from the disastrous gold dime rollout?
NickDanger
Posts: 73 ✭
Will they lower the household limit or do anything to ameliorate the problems experienced with the Mercury dime rollout when they release the quarter and half?
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President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Ya got me on that one. Not even going to look it up. As for the mint, this is just another in a long line of rollouts that usually fail the consumer. Have you read the "finning" thread? Remember the gold Kennedy's release in Chicago?
I'm sure they consider it a big success.
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That said, I could see them lowering to 2 or 5.
Aside from flippers, I'm not sure how many people that honestly wanted 1, or 2, to keep for themselves, really found themselves shut out.
I'm sure a lot of flippers were shut out.
I just wish that those that bend the rules a bit, to buy (for themselves to sell) from multiple "friends and family members" were able to be shut out, but they aren't.
(note: this doesn't include when people go online to buy, at a profit to the original purchaser usually, extras to submit/resell....just those that decide they have to get the mint price for the items right away from the mint in the name of themselves, their spouse, their dogs/cats, their brothers, their neighbors, etc).
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Collector, occasional seller
The best way for the Mint to ameliorate the problems would be to fire all the current people involved and hire some qualified masters of the quality private minting business like Daniel Carr, Craig Duane, and Bernard von NotHaus.
And yes, I had to look it up, I am not that smart to know words like that.
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I'm not sure if any of us really wants the mint to learn their lesson. (excepting maybe those that are bothered by 'flippers' on some sort of deep personal level).
What was so "disastrous"?
This one did not seem very bad, some website crashes, weird shipping order, all par for the course.
There were 125K coins. It's not like there were only 4,000 or 17,000 made...
I did not get caught up in the feeding frenzy for this offering. Mintage was way to high. Patience will prevail and the "dime" will see reality and be available at below Mint price later on this year.
+1, and maybe even later this month...Saw Raw's yesterday at $249.99 free ship. after shipping, ebay paypal and taxes, seller nets 1 BK Whopper and a Coke.
I thought it went fine.
What was so "disastrous"?
My question to they all sold is what they wanted and they made a neat profit to.
That's what their goal is isn't it?
graded coin sale at link below
https://photos.google.com/album/AF1QipNItjHsIF_1nPvk5MqennKhv-5_TZcOr7ac9jB0
They made them, sold them, all good.
At least from the Mint's perspective...
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I did not get caught up in the feeding frenzy for this offering. Mintage was way to high. Patience will prevail and the "dime" will see reality and be available at below Mint price later on this year.
+1, and maybe even later this month...Saw Raw's yesterday at $249.99 free ship. after shipping, ebay paypal and taxes, seller nets 1 BK Whopper and a Coke.
the thought process is missing a few things there, before you should be concerned for the seller....
1) Do they get any discount on their ebay fees? Some do.
2) Are they a type of seller that screens out for 70s and blows out the ones that wouldn't make that? So, they try to break even (give or take a little) with the non-70s and make the money with the 70s.
3) Some original buyers may buy extras, keep one or 2 of the best, and sell the others...at break-even or a little profit.
If any of the above, then they are doing ok anyway.
If not, then the amount of flippers is making the weak-handed blow them out for a few bucks each, trying to make money in volume or at least enough to pay off the upcoming CC bill.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
What disaster?
They made them, sold them, all good.
At least from the Mint's perspective...
No disaster.. LOL.... Mint kept a lot of the after market money premium to themselves by charging over $200 for the Merc Gold.. those wanting one ...just wait ...Merc Gold prices have already topped out on Ebay now getting $255 - $270 ....400 listings than 2 weeks ago .. they will still go lower
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Will they lower the household limit or do anything to ameliorate the problems experienced with the Mercury dime rollout when they release the quarter and half?
The US Mint marketing team has absolutely no idea about the coin market.
NONE!
As such, they'll just continue to screw things up.
"Unlimited Mintage = Household limit of 1"
"Mintage of 125,000 - Household Limit of 10"
Was that screwed up out of the starting gates or what?
The name is LEE!
It appeared to go smoothly to me.
The name is LEE!
The simple answer is they are a government agency, you can pretty much count on the same thing for the other coins. There is nothing for them to learn. They sold out in a very short period of time.
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What disaster?
They made them, sold them, all good.
At least from the Mint's perspective...
No disaster.. LOL.... Mint kept a lot of the after market money premium to themselves by charging over $200 for the Merc Gold.
About time they wised up.
Will they lower the household limit or do anything to ameliorate the problems experienced with the Mercury dime rollout when they release the quarter and half?
The US Mint marketing team has absolutely no idea about the coin market.
NONE!
As such, they'll just continue to screw things up.
"Unlimited Mintage = Household limit of 1"
"Mintage of 125,000 - Household Limit of 10"
Was that screwed up out of the starting gates or what?
The Mint was smart ....they made a big profit fast out of the coin buying public..a 10 limit per HH ..out of a big mintage became easy money for the Mint ..Looks like Mint are not the chumps with low Mintage products anymore.... with big profits now going to Mint .. not Flippers
not
Falling prices and tons of ebay listings... I bet the speculators are getting nervous.
Good! I hope they lose money.
I did not get caught up in the feeding frenzy for this offering. Mintage was way to high. Patience will prevail and the "dime" will see reality and be available at below Mint price later on this year.
+1, and maybe even later this month...Saw Raw's yesterday at $249.99 free ship. after shipping, ebay paypal and taxes, seller nets 1 BK Whopper and a Coke.
Yeah I saw that too. 0% feedback seller with no sales in the last year.
Completed Listing
$9.3 million cleared in 15 minutes? Not much of a disaster as far as the mint's concerned.
$9.3 million is chump change for the Federal Government. It would be better if the mint thought of the collectors for once.
I'm retired, but when I was working for someone else, that company would not have taken kindly to my spending time in the late morning trying to buy a coin over the Internet with the company computer. In fact they had ways to know what websites I was accessing. Collectors who work normal hours are at a disadvantage when it comes to buying "flipper coins" like this. That's why these sellouts that take anywhere from 15 minutes to a couple of hours stink.
$9.3 million cleared in 15 minutes? Not much of a disaster as far as the mint's concerned.
$9.3 million is chump change for the Federal Government. It would be better if the mint thought of the collectors for once.
I'm retired, but when I was working for someone else, that company would not have taken kindly to my spending time in the late morning trying to buy a coin over the Internet with the company computer. In fact they had ways to know what websites I was accessing. Collectors who work normal hours are at a disadvantage when it comes to buying "flipper coins" like this. That's why these sellouts that take anywhere from 15 minutes to a couple of hours stink.
I have to agree with Bill on this one. Many of us couldn't get on a computer at that time because of work restrictions. Oh well.
Will they lower the household limit or do anything to ameliorate the problems experienced with the Mercury dime rollout when they release the quarter and half?
The US Mint marketing team has absolutely no idea about the coin market.
NONE!
As such, they'll just continue to screw things up.
"Unlimited Mintage = Household limit of 1"
"Mintage of 125,000 - Household Limit of 10"
Was that screwed up out of the starting gates or what?
The Mint was smart ....they made a big profit fast out of the coin buying public..a 10 limit per HH ..out of a big mintage became easy money for the Mint ..Looks like Mint are not the chumps with low Mintage products anymore.... with big profits now going to Mint .. not Flippers
not
Not so smart, IMO.
Yes, the Mint made $ fast, so if the Mint wants to be short-sighted and think only of immediate profit, they did a bang up job.
In the long term they could be sacrificing customers with rollouts that shut the average collector out.
Now I was online at the Mint site on the Merc Dime page at noon precisely and it took me almost 12 minutes to place my order. The Mint's much vaunted new software was simply unable to keep up with the demand.
So, IMO, the Merc rollout was both a software and PR disaster.
The Mint might be better served if it remembers the old adage about the pitcher and the well.
The Mint's much vaunted new software was simply unable to keep up with the demand.
And this is where you're mistaken.
The mint does not have new software.
The mint has a new fullfillment company, PFSWeb.
It is PFSWeb's servers and software. The same servers and software that handles sales for dozens of companies like Lego and TJ Maxx.
The US mint is merely another client of the company.
And you obviously weren't around for say, the 25th anniversary ASE sets, and had to deal with Novitex and PBGS...
Only time will tell if this coin will be as popular as the 2001 Silver Buffalo with a mintage of around 500,000 which sells for double the issue price now.
Box of 20
The Mint's much vaunted new software was simply unable to keep up with the demand.
And this is where you're mistaken.
The mint does not have new software.
The mint has a new fullfillment company, PFSWeb.
It is PFSWeb's servers and software. The same servers and software that handles sales for dozens of companies like Lego and TJ Maxx.
The US mint is merely another client of the company.
And you obviously weren't around for say, the 25th anniversary ASE sets, and had to deal with Novitex and PBGS...
Unfortunately, I was.
The numismatic press and the Mint trumpeted the new system for months before its introduction.
Since the software being used is clearly not the old software then it is new (to the Mint) software. SMH