Is the Mint "over marketing" coins?

Windycity · April 12, 2007 12:55PM

I believe the mint is over doing it. First quarters, then nickels, now dollars, different obverses, different reverses, all states, all presidents, all first ladies, etc. I hope when they change up the Lincoln Cent, its a simple one year, one coin change and then back to the original design. Am I alone on this or do others feel the same way?

TennesseeDave · April 12, 2007 1:05PM

I think it is hard to keep up with all the new stuff coming out nowadays.It creates ways for some to rake in some extra money flipping mint products if you are smart/lucky enough to forsee what is going to be the hottest items each year.

Zoins · April 12, 2007 1:08PM

<< I believe the mint is over doing it. First quarters, then nickels, now dollars, different obverses, different reverses, all states, all presidents, all first ladies, etc. >>

There certainly are a lot of issues. I pass on most of them but order some here and there. I think they would slow down if they saw demand slow down but there's a two-stage process now for some popular issues (mint > speculator > collector) so the Mint may get delayed market data.

<< I hope when they change up the Lincoln Cent, its a simple one year, one coin change and then back to the original design. Am I alone on this or do others feel the same way? >>

I hope they permanently change the cent, obverse and reverse, or discontinue the denomination

As my organizational behavior professor used to say, "Change is good!"

TwoSides2aCoin · April 12, 2007 1:15PM

<< I believe the mint is over doing it. First quarters, then nickels, now dollars, different obverses, different reverses, all states, all presidents, all first ladies, etc. >>

What is limited in mintage is the only thing of importance in the scope of things.
Aside from low pops, the next is HIGH GRADE. The mint is overdoing it because numismatists are in search of PERFECTION, not rarity. When condition (high grade) and rarity(Low Population) collide, We get a winner.

~based on opinion~

Zoins · April 12, 2007 1:32PM

<< The mint is overdoing it because numismatists are in search of PERFECTION, not rarity. When condition (high grade) and rarity(Low Population) collide, We get a winner. >>

Are numismatists that look for true rarity in high grades really the Mint's primary customers? Somehow I don't think so.

But imagine if APEs developed milk spots or other issues? That would reduce the number of high grade specimens for an already limited population which would be very interesting.

basestealer · April 12, 2007 1:37PM

What do mean a one year design change for the cent and then go back to the "original"? What is the original? The lincoln turd is certainly not the original cent! I've hated that since the day I was born and it's been around a good 6 decades longer than that. If they're going to change the design they need to change it and keep the change, not go back to the memorial. I think the penny's days are numbered anyway, at least as we know it. Copper plated aluminum here we come.

Colquhoun · April 12, 2007 2:02PM

For calendar year 2009, four circulating and one copper penny would be issued to commemorate the bicentennial anniversary of the birth of Abraham Lincoln. Beginning in calendar year 2010 the reverse side of the penny would bear an emblematic image of Lincoln's preservation of the United States as a single united country.

So who knows what mediocre crap the mint will make for us.

Myqqy · April 12, 2007 2:09PM

I agree that there is some definite overkill going on with new series, new designs, commeratives, bullion, etc...

I wish there was a smaller amount of options with an increase in overall quality...

Coxe · April 12, 2007 2:10PM

I find the US Mint's advertising their Mint direct garbage on TV to be as offensive as state lotteries doing similar. This is not why we have governments. Perhaps garbage is a bit too strong but it is inconsisent with the original establishment purpose.

ccmorgan · April 12, 2007 2:35PM

The mint is turning a high profit since the very popular states quarters. Now they're trying to keep the snowball rolling before the end of the state quarter series. Keeping us on our toes wondering "whats next". There's never been more different coins minted for circulation every year than now. Then there's still the commemeratives on top of it all.
Tell you the truth I'm getting disgusted.

cullenbryant · April 12, 2007 3:01PM

how does the usmint compare in amount of annual issues to australia, canada and britain?

Zoins · April 12, 2007 3:14PM

<< how does the usmint compare in amount of annual issues to australia, canada and britain? >>

Well, we don't have enameled coins, hologram coins, silver coins with gold relief or coins with licensed NHL and Hello Kitty (France) logos yet. Additionally the US Mint prices are also very reasonable compared to say the Royal British Mint.

That doesn't mean there aren't issues, just that it's not as bad is it could be.

MoneyLA · April 12, 2007 3:40PM

the mint is making a lot of money from its "numismatic" programs... so don't expect the mint to scale back anytime soon.

if the mint makes a major change in the cent or any coin, you can bet heavily that a major marketing campaign, with multiple "numismatic options" will follow.

remember, the Mint created a new army of "collectors" with the State Quarters program that is ready to buy up anything and everything that comes with a slick booklet from the Mint via the US Mail.

And I wouldnt be surprised to see the Mint someday talking up the big profits for the first state quarter proof sets.

cheers, Alan Mendelson

BestDealsTVshow.com

ccmorgan · April 12, 2007 3:58PM

<< remember, the Mint created a new army of "collectors" with the State Quarters program that is ready to buy up anything and everything that comes with a slick booklet from the Mint via the US Mail. >>

I call them AC for "artificial collectors" LOL I remember at first '99-'01 or so everyone kept every single quarter they got. Even my mother. With most telling me "these are going to be worth something some day. I just kept laughing saying you got to be kidding. First of all they're minting 500,000,000 of each quarter and 2nd everyone has/is saving them.
Now most of the ACs have given up/lost interest. Like I knew would happen. lol It's back to just us addicts now.

MoneyLA · April 12, 2007 4:02PM

I disagree... the addicts are still here. Ive been trying to get a roll of the new dollars at my local bank and they are all sold out, and have been since the first day. there is a "waiting list."

the Mint created a vast army of collectors... by the Mint's own estimates 110,000,000 new collectors. Even if only 10% continue that's 11-million new collectors who will keep buying anything the mint turns out.

cheers, Alan Mendelson

BestDealsTVshow.com

ccmorgan · April 12, 2007 4:11PM

<< I disagree... the addicts are still here. Ive been trying to get a roll of the new dollars at my local bank and they are all sold out, and have been since the first day. there is a "waiting list."

the Mint created a vast army of collectors... by the Mint's own estimates 110,000,000 new collectors. Even if only 10% continue that's 11-million new collectors who will keep buying anything the mint turns out.

cheers, Alan Mendelson

BestDealsTVshow.com >>

Yes they are here for the new dollar coins but there gone from the quarter series.
The mint is playing them well....

FullStrike · April 12, 2007 4:14PM

<< Is the Mint "over marketing" coins? >>

Has the Mint redone the 1/2 Penny, 2 cent, 3 cent, H10 cent, 20 cent, $1 Gold, $2 1/2 Gold, $3 Gold, $4 Gold yet?

No ?

Then obviously they haven't done the overmarketing thing just yet.

But all hope is not yet lost.

and as far as I know, they haven't touched the square coins yet

renman95 · April 12, 2007 9:45PM

Coins? I thought they were making "tokens" these days.

Ren

seateddime · April 12, 2007 10:14PM

yes, tv ads? come on

pf70collector · April 13, 2007 1:16AM

360 million Washington Dollars is not simply enough to go around. One for each person in the U.S. There are a lot of collectors out there. I see nothing wrong with the mint trying to satisfy that particular marketing niche.

lordmarcovan · April 13, 2007 1:45AM

<< Is the Mint "over marketing" coins? >>

I fear so. I thought the Statehood quarters (and before them, the 1999 Anthony dollars) were a refreshing novelty after so many years of stale coinage, but I think they need to quit after the Presidential dollars. First the quarters, then the nickels with different reverses, and now the dollars. Granted, they do make pocket change more interesting, but if the Mint floods the market with an overabundance of different options, I fear demand could shut down and the market will sink, as it has in stamps. Who among us lost interest in stamps after the 1 zillionth commemorative or new design? We maybe heading for the demise of commemorative coins, too, as happened in the 1950s, though at least the commems are not as frivolous as some of the old ones were (or we'd have the Presidential Pets series and so on. Hey, that one could happen! Yikes!)

the4x4man · April 13, 2007 1:51AM

Did anyone notice the Mint is starting to look like the Post Office?
The Mint makes a huge amount of coins, and with a lot of different designs on them.
The Post Office makes a huge amount of stamps, and with a lot of different designs on them.
From my point of view they are after the same thing. Making a profit, which goes to the Government.
Both of them have became a business to make money.
They are making it hard for the collectors of coins and stamps to be able to build a modern collection that will be worth more that a couple thousand dollars in the future (30 or 40 years).
There will always be buyers for modern, pre-64, and pre-1900's coins. Just moderns will not make that much money till the year 2200, then they will be worth a thousand dollars, but a sandwhich will be two thousand dollars

.
It's big business.
You can thank President Woodrow Wilson for all the troubles we have with our money system and the mint. Thanks bone head, ya sell out.
The4x4man

mayor1 · April 13, 2007 1:51AM

Reminds one of the U.S. Postal service, doesn't it!

Zoins · April 13, 2007 2:14AM

<< Did anyone notice the Mint is starting to look like the Post Office?
The Mint makes a huge amount of coins, and with a lot of different designs on them.
The Post Office makes a huge amount of stamps, and with a lot of different designs on them.
From my point of view they are after the same thing. Making a profit, which goes to the Government.
Both of them have became a business to make money. >>

The big difference is that the Post views its competition from email, UPS, FedEx, etc as legitimate and is trying to compete on business merits. The Mint is trying to kill its competition, Liberty Dollars, through FUD. Now ask yourself which strategy is more profitable/successful so far

FullStrike · April 13, 2007 2:33AM

<< 360 million Washington Dollars is not simply enough to go around. >>

Especially when you figure in roll, bag and $1,000.00 box collectors.

AskRaq · April 13, 2007 3:05AM

Yeah, my first thought when I read the title was.... Seems they're just following in the footsteps of the Post Office, pretty soon they'll have their own cable network: "U.S. Collector's Net" (Government Approved Collectibles)

Coxe · April 13, 2007 3:35AM

<< Yeah, my first thought when I read the title was.... Seems they're just following in the footsteps of the Post Office, pretty soon they'll have their own cable network: "U.S. Collector's Net" (Government Approved Collectibles) >>

You mean "dot gov" -- they do have that level of legitimacy that eludes the usps but surprisingly is bestowed on the irs.

As for the ACs that were mentioned on the first page, we all saw that with the bicentennial coinage. Might have been a long breather until modern commemoratives took a grip at the Mint, but they did learn about the value of seignorage from that.There are still war chests of bicentennial quarters under sinks and in garages of people who just knew they would become millionaires by prudently setting aside every one they found in circulation.

Sotty · April 13, 2007 4:44AM

Way too much.It will take 56 coins, satin and non satin just to make up a mint set.

Proof coins, ASEs and all the rest will make 2007 a collection in itself.

Is the Mint "over marketing" coins?

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Is the Mint &quot;over marketing&quot; coins?

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Is the Mint "over marketing" coins?