@cagcrisp said:
The United States Mint had a 2019 American Gold Liberty coin that launched August 2019 that they disposed of completely differently than the 2017 American Gold Liberty.
The 2019 had Total sales of 12,002 for 97 weeks and then on week #98 the United States Mint Sold 12,608 coins or 105% more coins sold in one week than in the previous 97 weeks...
LOL. Those first 97 weeks are easy enough to explain. Can you say Covid? People were in panic mode thinking they'd run out of bottled water and toilet paper because the scare was being put on them via the MSM. Gold was the farthest thing from their minds.
@cagcrisp said:
The United States Mint had a 2019 American Gold Liberty coin that launched August 2019 that they disposed of completely differently than the 2017 American Gold Liberty.
The 2019 had Total sales of 12,002 for 97 weeks and then on week #98 the United States Mint Sold 12,608 coins or 105% more coins sold in one week than in the previous 97 weeks...
LOL. Those first 97 weeks are easy enough to explain. Can you say Covid? People were in panic mode thinking they'd run out of bottled water and toilet paper because the scare was being put on them via the MSM. Gold was the farthest thing from their minds.
Covid had very little to do with sales of these coins. The stock market rebounded well during and after March of 2020…
@fathom said:
Nobody cares if the sales are up or if they can accumulate huge profits.
I want the items to retain value and know the current or next product will not be overproduced to force discounting and closeouts.
Overproduction is toxic to perceived value.
The Mint should not care about your desire to profit. The Mint should only care about turning a profit. Now. It helps then sell product if the product isn't dropping in value. But they SHOULD be concerned primarily with at least breaking even in the commems which, too often, they don't.
@cagcrisp said:
The United States Mint had a 2019 American Gold Liberty coin that launched August 2019 that they disposed of completely differently than the 2017 American Gold Liberty.
The 2019 had Total sales of 12,002 for 97 weeks and then on week #98 the United States Mint Sold 12,608 coins or 105% more coins sold in one week than in the previous 97 weeks...
LOL. Those first 97 weeks are easy enough to explain. Can you say Covid? People were in panic mode thinking they'd run out of bottled water and toilet paper because the scare was being put on them via the MSM. Gold was the farthest thing from their minds.
This is really not at all accurate. The Mint sold more gold during Covid than ever before. All collectibles were in huge bull markets: coins. Comics, sports cards, etc.
@cagcrisp said:
The United States Mint had a 2019 American Gold Liberty coin that launched August 2019 that they disposed of completely differently than the 2017 American Gold Liberty.
The 2019 had Total sales of 12,002 for 97 weeks and then on week #98 the United States Mint Sold 12,608 coins or 105% more coins sold in one week than in the previous 97 weeks...
LOL. Those first 97 weeks are easy enough to explain. Can you say Covid? People were in panic mode thinking they'd run out of bottled water and toilet paper because the scare was being put on them via the MSM. Gold was the farthest thing from their minds.
This is really not at all accurate. The Mint sold more gold during Covid than ever before. All collectibles were in huge bull markets: coins. Comics, sports cards, etc.
Ok, I admittedly haven't researched the exact numbers to confirm that, and frankly I'm not invested enough in this debate to do so as I have work to do. That said, although I agree to an extent that people were shopping more online for obvious reasons (they had no other option), I think the "...more than ever before" part might be hyperbole... but let's go ahead and assume that's all true. Why then did these (by then three years old) gold issues not sell out in this smoking hot market? Answer-BECAUSE THEY'RE OVERPRICED. And I can tell you from actual experience that several of my gold buyers went on a bit of a hiatus during Covid's peak and then came back with a vengeance once things started to turn and the new focus became economy related. That matches up almost perfectly with the 97 week scenario mentioned above.
The Mint must not have made this 'bonus offer' to the general public. About a dozen of the one-ounce coins have been sold from the original product page this month.
I think the Mint should have alerted those buyers to the bonus offer during the checkout process. These will likely become irate returns if/when discovered.
+1,004 coins sold in 1 week vs. Average weekly coin sales of 33 for the previous 4 years (exactly 208 week)
That would be a ~ profit of $1,092,000.00 in one week even with the give away of the 1/10 oz. coin.
@telephoto1 said:
Why then did these (by then three years old) gold issues not sell out in this smoking hot market? Answer-BECAUSE THEY'RE OVERPRICED.
Years ago, I stopped buying proof mintings of Silver Eagles, the occasional Gold Eagle, and the Gold Buffaloes because of the huge mark-ups to the spot price of the metal. As it is now, I'll only buy something from the U.S. Mint if it is a design that I do not already have and something that appeals to me tremendously. Last year, it was the Morgan and Peace dollars and I did not particularly enjoy paying roughly quintuple the melt price.
This year? There's nothing that appeals to me enough to pay that kind of premium.
@telephoto1 said:
Why then did these (by then three years old) gold issues not sell out in this smoking hot market? Answer-BECAUSE THEY'RE OVERPRICED.
Years ago, I stopped buying proof mintings of Silver Eagles, the occasional Gold Eagle, and the Gold Buffaloes because of the huge mark-ups to the spot price of the metal. As it is now, I'll only buy something from the U.S. Mint if it is a design that I do not already have and something that appeals to me tremendously. Last year, it was the Morgan and Peace dollars and I did not particularly enjoy paying roughly quintuple the melt price.
This year? There's nothing that appeals to me enough to pay that kind of premium.
But wait...all the resident marketing experts here think these are awesome deals! LOL.
If I didn't have a few customers that still want some of this stuff every year I'd have bailed long ago, and have scaled back as it is. The S-Mint proof silver eagles dropped today, and despite a good many already being spoken for by enrollments, they're still not sold out. 3 coin limit at $73 per. Maybe they should offer bonus coins...
Just How Successful has the United States Mint’s 2017 American Liberty 1 oz. Gold coin promotion been?
The United States Mint has exactly 250 line items listed on sales report.
Only 3 items (excluding the 2022 American Silver Eagle S than went on sale last week ) sold more unit sales last week than did the 2017 American Liberty 1 oz. Gold promotion and None of the 3 generated as much revenue or profit as did the 5 year old 2017 American Liberty 1 oz. Gold promotion…
Just How Successful has been the United States Mint’s promotion of buying the 1 oz. 2017 American Liberty Gold coin and getting the 1/10 oz. 2018 American Liberty Gold coin for Free?
Taking the previous average sales for 52 weeks and comparing this to sales since the promotion began and considering the Mint is giving away a 1/10 oz. coin…
Approximately $2.2 Million of Additional profit for the United States Mint…
Just How significant is “Approximately $2.2 Million of Additional profit for the United States Mint…”?
The Numismatic side of the United States Mint:
FY2018 Lost $21.2 Million
FY2019 Lost $6.9 Million
FY2020 Profit $3.0 Million
FY2021 Profit $92.6 Million when you had a design change on American Gold and Silver Eagles and you Launched Morgan and Peace Silver Dollars…
If something's 5 years old and still hasn't sold out despite throwing in a "free" coin (that isn't free when you look at the outrageous markup over spot in the first place), I don't call that exactly successful.
As to the cache' of being voted Coin Of The Year... can you say George Washington Half Dollar?
Comments
If you had looked at the mintage limit of 100,000, you should have known it could never retain value and thus never purchased the coin…
If you are a coin collector you know it's never about mintages it's always about supply and demand.
Therein lies the problem.
If you over supply to the demand you are going to force discounting, condemning the product to bullion value.
Is that the goal, bullion value?
Then just pour ingots. Enough with this nonsense.
LOL. Those first 97 weeks are easy enough to explain. Can you say Covid? People were in panic mode thinking they'd run out of bottled water and toilet paper because the scare was being put on them via the MSM. Gold was the farthest thing from their minds.
RIP Mom- 1932-2012
Wow, 168 bonus deals sold since last report.
I’m not a coin collector. I’m an investor and these were never going to be an investment before or after the give away was announced…
Covid had very little to do with sales of these coins. The stock market rebounded well during and after March of 2020…
The USM is doing their spring cleaning a little late this year
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
I bought ten of them scored a free ounce. I'll get them all graded probably do a walk thru at the next major. They're going to look nice in hand.
The Mint should not care about your desire to profit. The Mint should only care about turning a profit. Now. It helps then sell product if the product isn't dropping in value. But they SHOULD be concerned primarily with at least breaking even in the commems which, too often, they don't.
This is really not at all accurate. The Mint sold more gold during Covid than ever before. All collectibles were in huge bull markets: coins. Comics, sports cards, etc.
In just a few short hours the United States Mint will change the price of the 2017 American Liberty Gold coin to $2,715.00.
Even with giving away a 1/10 oz. Gold coin, the United States Mint will profit ~ $1,050.00 per 2017 Gold coin sold this afternoon.
The profit margin on a 2022 American Buffalo Gold coin in comparison is ~ $430.00 per coin at current pricing...
Let's See...
W/e 07/31/2022 There were 48 2017 American Liberty Gold coins sold @ $2,665.00. The 2017 American Liberty Gold coin has been on sale for 278 weeks.
W/e 07/31/2022 There were 199 2022 American Buffalo Gold coins sold @ $2,640.00. The 2022 American Buffalo Gold coin has been on sale for 12 weeks...
The price of the 2017 American Liberty Gold has been re-priced to $2,715.00...
I wished the US Mint would've sold the 2009 UHR coins that were remaining in stock rather than melt them.
It would be incorrect to call that "profit" without a full accounting of all costs.
Ok, I admittedly haven't researched the exact numbers to confirm that, and frankly I'm not invested enough in this debate to do so as I have work to do. That said, although I agree to an extent that people were shopping more online for obvious reasons (they had no other option), I think the "...more than ever before" part might be hyperbole... but let's go ahead and assume that's all true. Why then did these (by then three years old) gold issues not sell out in this smoking hot market? Answer-BECAUSE THEY'RE OVERPRICED. And I can tell you from actual experience that several of my gold buyers went on a bit of a hiatus during Covid's peak and then came back with a vengeance once things started to turn and the new focus became economy related. That matches up almost perfectly with the 97 week scenario mentioned above.
RIP Mom- 1932-2012
The Mint must not have made this 'bonus offer' to the general public. About a dozen of the one-ounce coins have been sold from the original product page this month.
I think the Mint should have alerted those buyers to the bonus offer during the checkout process. These will likely become irate returns if/when discovered.
Wow.
What a successful promotion.
2017 AM LIBERTY 24K GOLD 1 OZ 36,911 +1,004
+1,004 coins sold in 1 week vs. Average weekly coin sales of 33 for the previous 4 years (exactly 208 week)
That would be a ~ profit of $1,092,000.00 in one week even with the give away of the 1/10 oz. coin.
(2018 AM LIBERTY 24K GOLD 1/10 OZ 50,648 +1,057)
Awesome!
Blow out more overproduced merch.! Watch those values plummet! I'm excited.
The 2017 American Liberty Gold has been on Sale for 279 weeks.
More profit was made on week #279 that Any week Other than Launch week of w/e 04/09/2017…
We've learned that no one here is in marketing...
Years ago, I stopped buying proof mintings of Silver Eagles, the occasional Gold Eagle, and the Gold Buffaloes because of the huge mark-ups to the spot price of the metal. As it is now, I'll only buy something from the U.S. Mint if it is a design that I do not already have and something that appeals to me tremendously. Last year, it was the Morgan and Peace dollars and I did not particularly enjoy paying roughly quintuple the melt price.
This year? There's nothing that appeals to me enough to pay that kind of premium.
But wait...all the resident marketing experts here think these are awesome deals! LOL.
If I didn't have a few customers that still want some of this stuff every year I'd have bailed long ago, and have scaled back as it is. The S-Mint proof silver eagles dropped today, and despite a good many already being spoken for by enrollments, they're still not sold out. 3 coin limit at $73 per. Maybe they should offer bonus coins...
RIP Mom- 1932-2012
Another successful week for a United States Mint Promotion...
2017 AM LIBERTY 24K GOLD 1 OZ 37,506 +595
595 @ $2,715.00 = $1,615,425.00
More individual 2017 American Liberty 1 oz. Gold coins have been sold since this promotion Started than in the previous 55 weeks combined...
Just How Successful has the United States Mint’s 2017 American Liberty 1 oz. Gold coin promotion been?
The United States Mint has exactly 250 line items listed on sales report.
Only 3 items (excluding the 2022 American Silver Eagle S than went on sale last week ) sold more unit sales last week than did the 2017 American Liberty 1 oz. Gold promotion and None of the 3 generated as much revenue or profit as did the 5 year old 2017 American Liberty 1 oz. Gold promotion…
Just received an e-mail from the Mint.
The "bonus offer", originally scheduled to end AUG-15, has been extended until AUG-20.
Melt them all - horrible design combined with a high price.
Great success for the Mint! Yeah Gov!
Not so good for investors/collectors. Boo...Hiss
overproduction.
It was Voted Coin of the Year...
You can't reason with the curmudgeonly. If you don't think exactly like them, you're an idiot.
Doesn’t mean I have to like it.
Just because you don't like it doesn't mean they should melt them all.
Just my opinion - everyone has one. Like it or not.
Another Successful week for the United States Mint...(Offer Extended)...
2017 AM LIBERTY 24K GOLD 1 OZ 37,928 +422
even if they threw in a 1/4 ounce proof gold eagle, i still would not buy one
Just How Successful has been the United States Mint’s promotion of buying the 1 oz. 2017 American Liberty Gold coin and getting the 1/10 oz. 2018 American Liberty Gold coin for Free?
Taking the previous average sales for 52 weeks and comparing this to sales since the promotion began and considering the Mint is giving away a 1/10 oz. coin…
Approximately $2.2 Million of Additional profit for the United States Mint…
Just How significant is “Approximately $2.2 Million of Additional profit for the United States Mint…”?
The Numismatic side of the United States Mint:
FY2018 Lost $21.2 Million
FY2019 Lost $6.9 Million
FY2020 Profit $3.0 Million
FY2021 Profit $92.6 Million when you had a design change on American Gold and Silver Eagles and you Launched Morgan and Peace Silver Dollars…
If something's 5 years old and still hasn't sold out despite throwing in a "free" coin (that isn't free when you look at the outrageous markup over spot in the first place), I don't call that exactly successful.
As to the cache' of being voted Coin Of The Year... can you say George Washington Half Dollar?
RIP Mom- 1932-2012
A very successful United States Mint promotion has ended...
2017 AM LIBERTY 24K GOLD 1 OZ 37,897 (31)
To only have a negative 31 after a +2388 is a rarity for Gold offerings from the United States Mint...