I just put everything down as a catch all. I think the new pc police request satire to be identified as such because the sheeple of today are not smart enough to tell the difference. 🤷♂️
Well, I did mention Jonathan Swift and the tag was "sarcasm". I can do all the intellectual work for ya!
IMHO
1) The mint should list a starting minimum bid price say $70.00 on a new release
2) NOT list the actual production mintage but a statement that the release is "limited"
3) Keep the household limit to one
4) Allow only one bid that cannot be increased or decreased- you are locked into that bid
This will keep the deep pocket people from bidding exorbitant bids and hinder them from obtaining a large
amount of proxy bidders ( who wants to bid a $1000.00 on a coin that can be bought for 1/10th of that price)
5) Close all bidding 2 weeks before the actual release and then on the actual release date, list the actual mintage
6) If inventory is still available later, change the starting bid price to the average price that was bid
7) destroy any unsold items at the end of the year
This hopefully will allow actual collectors to purchase the coin at a reasonable price
Dealers and flippers can then do their thing on the open market afterwards
AND FOR THOSE WHO DO NOT ACHIEVE A SUCCESFUL BID
( WELL DON PARDO, THE PARTING GIFT)
a newly minted 2020 CC cent (but in order to claim , you must buy a mint product to cover shipping) LOL
@WAYNEAS said:
IMHO
1) The mint should list a starting minimum bid price say $70.00 on a new release
2) NOT list the actual production mintage but a statement that the release is "limited"
3) Keep the household limit to one
4) Allow only one bid that cannot be increased or decreased- you are locked into that bid
This will keep the deep pocket people from bidding exorbitant bids and hinder them from obtaining a large
amount of proxy bidders ( who wants to bid a $1000.00 on a coin that can be bought for 1/10th of that price)
5) Close all bidding 2 weeks before the actual release and then on the actual release date, list the actual mintage
6) If inventory is still available later, change the starting bid price to the average price that was bid
7) destroy any unsold items at the end of the year
This hopefully will allow actual collectors to purchase the coin at a reasonable price
Dealers and flippers can then do their thing on the open market afterwards
AND FOR THOSE WHO DO NOT ACHIEVE A SUCCESFUL BID
( WELL DON PARDO, THE PARTING GIFT)
a newly minted 2020 CC cent (but in order to claim , you must buy a mint product to cover shipping) LOL
The idea of not specifying mintage is silly. You might as well just make everything unlimited mintage because that is the same thing. All you've done is turn the actual purchase into a lottery. But, of course, you can always return them when you find out the mintage. So, in order for this to work, you have to make all sales final with NO RETURNS.
You've created more problems than you've solved.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@cameonut2011 said:
Many items will go unsold. I doubt there are truly 30,000 collectors looking to hold and not flip most modern coins, even the so called limited super duper special ones. The prices usually tank in the after market after a few years and the true demand is shown. Now I see the lower demand/prices right of the starting gate. The dealers and flippers won't care.
Really? So you are saying that the 100,000 people who now buy the coins would not buy them at all if they had to bid on them? For unpopular items that don't sell out now, how would this be any different?
If you sell to the highest bidder the coin is either already maxed out or usually not far from it (with few exceptions). If your satirical piece was based in reality, I do think flippers and dealers would thumb a nose at the coins. I wouldn't want them. Maybe I am in the minority.
I believe the Mint just needs to keep doing what they are doing, except let their computers or the Pay sites crash when someone is trying to order. It doesn't matter what they do or how they sell the real limited editions, some people will always be pissed off because they missed out. I know because I have been there and got over it by either that night or the next day and if it was something I wanted bad enough, I hurried and got it on the secondary market before they really went up in price.
I also believe that eBay needs to stop all of the pre-sales so the sh** doesn't happen like what happened with these 2019's and have people back out of their agreement with the high bidders and if they do try, they end up with negative feedbacks and are banned from selling on eBay.
@Delorean said:
I think an auction will push a small time collector, whom doesn't have big bucks to spend, right out of the hobby.
Why? The auction should get, at most, to fair retail value. It would actually push dealers out of Mint sales.
How will it push dealers!?! They are the ones with the deep pockets!
First of all, not all dealers have deep pockets.
But a dealer will only buy a $100 Mint release if they think they can sell it for $125. There would be NO secondary market price appreciation if the end buyers (non-dealers) have bid the coin up. Dealers would just buy some to slab and be done with it.
Take the ERP. Dealers were paying $300 to $500 before release believing the coin would be $700+ after release. If this had been an auction instead and the price got to the $800 1st day price, dealers would NOT be jumping in unless they felt the price would go to $1000 or above.
This paranoia about dealers being a problem is ridiculous. The Mint goes out of their way to make it hard on dealers.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@Delorean said:
I think an auction will push a small time collector, whom doesn't have big bucks to spend, right out of the hobby.
Why? The auction should get, at most, to fair retail value. It would actually push dealers out of Mint sales.
How will it push dealers!?! They are the ones with the deep pockets!
First of all, not all dealers have deep pockets.
But a dealer will only buy a $100 Mint release if they think they can sell it for $125. There would be NO secondary market price appreciation if the end buyers (non-dealers) have bid the coin up. Dealers would just buy some to slab and be done with it.
Take the ERP. Dealers were paying $300 to $500 before release believing the coin would be $700+ after release. If this had been an auction instead and the price got to the $800 1st day price, dealers would NOT be jumping in unless they felt the price would go to $1000 or above.
This paranoia about dealers being a problem is ridiculous. The Mint goes out of their way to make it hard on dealers.
beat me to it.
Dealers are in it for profit. profit only exists when the dealer can get the coin for less than the collector is willing to pay (supply demand). If the collectors are pushing the price up - and then dealers push it higher - then dealers all get the coins. Then they try to flip them unsuccessfully until the price drops to what the collectors will pay.
Then in the future, dealers are less likely to do that again (although, if I were a betting man, Id say the dealers wouldnt even do it once).
Comments
Thanks!!! I need it :P
IMHO
1) The mint should list a starting minimum bid price say $70.00 on a new release
2) NOT list the actual production mintage but a statement that the release is "limited"
3) Keep the household limit to one
4) Allow only one bid that cannot be increased or decreased- you are locked into that bid
This will keep the deep pocket people from bidding exorbitant bids and hinder them from obtaining a large
amount of proxy bidders ( who wants to bid a $1000.00 on a coin that can be bought for 1/10th of that price)
5) Close all bidding 2 weeks before the actual release and then on the actual release date, list the actual mintage
6) If inventory is still available later, change the starting bid price to the average price that was bid
7) destroy any unsold items at the end of the year
This hopefully will allow actual collectors to purchase the coin at a reasonable price
Dealers and flippers can then do their thing on the open market afterwards
AND FOR THOSE WHO DO NOT ACHIEVE A SUCCESFUL BID
( WELL DON PARDO, THE PARTING GIFT)
a newly minted 2020 CC cent (but in order to claim , you must buy a mint product to cover shipping) LOL
Kennedys are my quest...
The idea of not specifying mintage is silly. You might as well just make everything unlimited mintage because that is the same thing. All you've done is turn the actual purchase into a lottery. But, of course, you can always return them when you find out the mintage. So, in order for this to work, you have to make all sales final with NO RETURNS.
You've created more problems than you've solved.
All comments reflect the opinion of the author, evn when irrefutably accurate.
If you sell to the highest bidder the coin is either already maxed out or usually not far from it (with few exceptions). If your satirical piece was based in reality, I do think flippers and dealers would thumb a nose at the coins. I wouldn't want them. Maybe I am in the minority.
I believe the Mint just needs to keep doing what they are doing, except let their computers or the Pay sites crash when someone is trying to order. It doesn't matter what they do or how they sell the real limited editions, some people will always be pissed off because they missed out. I know because I have been there and got over it by either that night or the next day and if it was something I wanted bad enough, I hurried and got it on the secondary market before they really went up in price.
I also believe that eBay needs to stop all of the pre-sales so the sh** doesn't happen like what happened with these 2019's and have people back out of their agreement with the high bidders and if they do try, they end up with negative feedbacks and are banned from selling on eBay.
they should have done it like this with all 30,000 of them.
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
Why? They should never use this. All collectors will be shut out by the big money dealers. They can bit it up all they want then control the market!
Collector
91 Positive BST transactions buying and selling with 56 members and counting!
instagram.com/klnumismatics
I need to start collecting Silver Eagles ... Capped Bust halves are not nearly as exciting.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
I think an auction will push a small time collector, whom doesn't have big bucks to spend, right out of the hobby.
Ever Onward
Why? The auction should get, at most, to fair retail value. It would actually push dealers out of Mint sales.
All comments reflect the opinion of the author, evn when irrefutably accurate.
How will it push dealers!?! They are the ones with the deep pockets!
Collector
91 Positive BST transactions buying and selling with 56 members and counting!
instagram.com/klnumismatics
First of all, not all dealers have deep pockets.
But a dealer will only buy a $100 Mint release if they think they can sell it for $125. There would be NO secondary market price appreciation if the end buyers (non-dealers) have bid the coin up. Dealers would just buy some to slab and be done with it.
Take the ERP. Dealers were paying $300 to $500 before release believing the coin would be $700+ after release. If this had been an auction instead and the price got to the $800 1st day price, dealers would NOT be jumping in unless they felt the price would go to $1000 or above.
This paranoia about dealers being a problem is ridiculous. The Mint goes out of their way to make it hard on dealers.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I find this thread very interesting. More so because of the lack of knowledge of economics and literature.
And to the OP's point, yes, an auction would be the most straight-forward and "fair" system.
beat me to it.
Dealers are in it for profit. profit only exists when the dealer can get the coin for less than the collector is willing to pay (supply demand). If the collectors are pushing the price up - and then dealers push it higher - then dealers all get the coins. Then they try to flip them unsuccessfully until the price drops to what the collectors will pay.
Then in the future, dealers are less likely to do that again (although, if I were a betting man, Id say the dealers wouldnt even do it once).
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be