Did the Mint Come Out With too Many Products This Year?

fcloud · November 27, 2006 11:08AM

Some of the reasons I think they did. Poor design for the San Fransisco Mint. Poor quality for the SF Gold and Silver. Too many errors. Have we ever seen so many double dies? Poor customer service. They didn't fix the problem with the gold packaging even when they knew the coins would be damaged in shipping. Now they need to offer the San Francisco stuff to dealer at discounts to move it out by the end of the year. Too many anniversary coins, and then they limit some way too low. Using dies too long and and and...

mepot · November 27, 2006 11:15AM

Yes,just because some is good,does not mean more is better.

TheRaven · November 27, 2006 11:15AM

It will probably get worse next year I fear.....

RegistryCoin · November 27, 2006 11:19AM

Short-term vs. long-term marketing.

OKbustchaser · November 27, 2006 11:25AM

<< Did the Mint Come Out With too Many Products This Year? >>

Did they release anything other than circulating business strike coins? If so, then the answer for this year--and EVERY year--is yes. The mint should go back to doing the job for which it was created--producing the coinage necessary for everyday commerce--and get completely out of the collectable/investment business.

Baley · November 27, 2006 11:37AM

Perhaps everything you mention is carefully calculated to maximize overall yield and generate interest in varieties and top-condition "product"

FatMan · November 27, 2006 11:39AM

Yes

foodude · November 27, 2006 11:41AM

As I've mentioned in other post, looks like they are following the Post Office's lead ...

Pentimento · November 27, 2006 11:56AM

I was hoping that 2006 would be the year I could finally buy SOMETHING from the US Mint pre-encrusted with Svwarvwovski crystals... I guess I'll be using my BeDazzler until at least 2007.

Bochiman · November 27, 2006 12:16PM

<< It will probably get worse next year I fear..... >>

I would have to agree with this.....

RichieURich · November 27, 2006 12:25PM

The 2007 coins will be much more expensive. They'll be making the 10th year anniversary set for the platinum eagles. There IMO will be a regular proof, a brilliant uncirculated, a satin finish uncirculated, a reverse proof, and a reverse reverse proof. This last coin will be the exact same coin as the regular proof, it will just be encased in a different holder and called a reverse reverse proof. (For you football fans, you might call it the "double reverse" proof. There will be a limited edition of 3,000 sets. In order to save shipping costs for the Mint, all 3,000 will be sold to Coin Vault, and anyone who wants them will have to buy them from Coin Vault.

Uh, oh! I hope this doesn't give them any stupid ideas!

sumnom · November 27, 2006 1:02PM

Did they release anything other than circulating business strike coins? If so, then the answer for this year--and EVERY year--is yes. The mint should go back to doing the job for which it was created--producing the coinage necessary for everyday commerce--and get completely out of the collectable/investment business.

Sounds good to me.

AJ2525 · November 27, 2006 1:14PM

I've actually ranted about this before...

One side of the coin...
...of course the Mint came out with too much stuff. BUT collectors bought it. So until this cash cow dies the Mint will keep pumping out "products."

I think you all are making the Congress who vote in these projects look smart as they are bringing in additional revenue.

The other side of the coin...
Realistically, if folks like this stuff and are willing to spend money on it, why not? Some people like to spend their money on attending sports events. Some people pay their money to see "wrestling" live. It's a free market and people can spend their money in (almost) whatever way pleases them.

I am a little jealous that I can't buy some of the products the Mint came out with. But I chose to spend my money on other things.

fcloud · November 27, 2006 1:31PM

I guess the quality thing is what gets me. I am not against all the products, but they just don't seem to care about their issues. My gold SF $5 was loose in the pack. They know it is a problem and they shipped it anyway. Now I have to send it back and hope they don't send another one out the same way and have that one scratched, too. Next year should be worse. 5 state quarters in various states (proof, mint, and circulation) 4 president dollars, 4 first ladies $10 gold, Buffalo gold in various weights, SAE, GAE, Platinum, mint sets, proof sets, roll sales, They can't seem to figure out how to hub coins. I think every MN die is a different Double Die. It could be more rare to find a MN quarter without doubling. I like the high quality perfect stuff for moderns. They are slipping. Heck they can't even do a good job of mailing the stuff out. They used DHL for my silver eagle sets and it took over two weeks, and DHL told me it is a two day service. DHL dropped the package a some post office in OH. It would have been a heck of a lot quicker if the mint simply used the Post Office (it probably would have cost them less, too). End of Rant...

Coindexter · November 27, 2006 3:55PM

The mint is getting so ridiculous that they're almost Canadian.

Zoins · November 27, 2006 4:06PM

<< The mint is getting so ridiculous that they're almost Canadian. >>

To be fair, it's no where close. The US Mint doesn't have to rely on Svwarvwovski crystals, NHL licensed logos or enamel coloring. People are buying up their coins just fine.

Coindexter · November 27, 2006 4:14PM

<< 

<< The mint is getting so ridiculous that they're almost Canadian. >>

To be fair, it's no where close. The US Mint doesn't have to rely on Svwarvwovski crystals, NHL licensed logos or enamel coloring. People are buying up their coins just fine. >>

True, but being that reasonable severely restricts my passionate pursuit of hyperbole.

RegistryCoin · November 27, 2006 4:47PM

It's "Swarovski"

ms70 · November 27, 2006 5:08PM

The Mint should stick to doing what they were created to do back in 1792 or thereabouts.

toreador74 · November 27, 2006 7:35PM

<< It will probably get worse next year I fear..... >>

That's right... if you think this year was bad, just wait for 2007, 2008 and 2009!

Coxe · November 27, 2006 7:48PM

I have been clear on my position in the past as to whether their collector crap should be consered coins. Folks who love the stuff, and there are obviously many, can keep on buying it and putting more money in the kitty for all of us.

Now if the dollar keeps sliding on us, those nutty products might end up being our real money, being of reliable purity and weight acceptable as such worldwide. Kind of funny if it shakes out that the bulllion ends up being our instrument of commerce.

BillJones · November 27, 2006 10:33PM

<< Did the mint come out with too many products this year? >>

Yes, and it's only going to get worse.

I've made an effort to keep up with the modern commemorative coins in the original mint packages. I even made a project of getting all of the multi-coin sets that came in wooden boxes. But this First Ladies commemorative $10 gold series is the last straw. I'm not going to tie up that kind of money in a series of coins that will often commemorate very minor figures in history. The coins will cost a fortune, and they are ruin the completeness of many modern sets.

In the end the mintages will be low, and the coins will fall into the never-never land of speculatiors and con artists.

The First Ladies coin series is a bad, bad idea.

rec78 · November 28, 2006 1:38AM

Aand there is also Medals for $38 --Does anyone buy these?? i would imagine the mintage of things like this is very low-i don't know of anyone who buys them from the mint.

BillJones · November 28, 2006 2:10AM

Yes, the mintage of these medals, just as they were in the 19th century, is quite low when they are compared to coins. The trouble is the 19th century medals were wonderful works of art when they combined solid designs with that wonderful mahogany finish. Today’s “yellow bronze” sand blasted finish medals are barely passable at best and downright eyesores at worst. The things were overpriced when the when the mint charged $20 a peice for them years ago. The going rate in the secondary market was more like $10.

The point is there are FAR more collectors who like coins than those who like medals. Therefore, despite their low mintages, many 19th century medals sell for only a few hundred dollars in many cases. And that is well up from where it was only 10 or 20 years ago. Back in the 1980s I could buy some really nice medals for $50 or less.

I did note that the mint is going to issue a series of First Lady medals, so that the “poor folks” will be able to afford them. I also take that as an insult.

Gemineye · November 28, 2006 6:03AM

Well ..in a different perspective ..they did come out with a lot for a wide range of collectors.Not only for mint and proof set collectors but for bullion and commemorative collectors as well.Also let's not forget the States' Quarter collection too.There are sure more modern collectors today with more choices than ever before.....Whew..!!!.....There's a hell of lot of coins to choose from...

410a · November 28, 2006 6:18AM

Yes. According to the most recent Coin World a backlash is occuring
with some tough criticism of the Mint. see DEC 4th issue.
Pricing too high. Too many coins. Too much to have to buy in order
to complete modern commem sets. Now, the dollar coin over laps
the States Quarters. Phew.......
Then talk about collectors and TV hawkers trying to get them out
on Ebay or on the air ASAP to get the most $$ before the interest
wanes.

flaminio · November 28, 2006 6:39AM

<< It will probably get worse next year I fear..... >>

Yep, wait'll next year. Y'all ain't seen nothin' yet. The RCMification of the US Mint will be complete.

Cladiator · November 28, 2006 6:43AM

If you think they've got too much now just wait and see what they'll be spewing out in 5-10 years.

CaptHenway · November 28, 2006 6:58AM

I have an article on the great amount of Mint production in 2006 in the issue of COINage hitting the newsstands this week. Just off the top of my head, I think that if you bought one of every packaging option (such as the four proof gold singles AND the four-piece proof set, etc.) it came to over $28,000.

Way too much, just like somebody with too much time on their hands making 1,000 posts on here!

Tom DeLorey

410a · November 28, 2006 7:31AM

Yeah Right? Cladiator has 16,000 posts and his desk isn't even a mess.

RichieURich · November 28, 2006 7:44AM

<< Way too much, just like somebody with too much time on their hands making 1,000 posts on here!

Tom DeLorey >>

Tom, congratulations on your 1000th post!

STONE · November 28, 2006 8:18AM

Yes, and I'm glad someone finally pointed that out.

Did the Mint Come Out With too Many Products This Year?

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