Modern Coins Melting question ?
Rarity
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It occurs to me that the Mint doesn't publish any data regarding "what the Mint does with quantity of unsold coins" in recent years.
So the question is:
How do I know whether the remaining of unsold "1996 $5 Smithsonian UNC gold eagle" were melted completely or stored in a vault by the Mint?
So the question is:
How do I know whether the remaining of unsold "1996 $5 Smithsonian UNC gold eagle" were melted completely or stored in a vault by the Mint?
0
Comments
<< <i>I would assume they are melted, only because I've been seeing the mint release "sales figures" instead of mintage figures now. That could be just for bullion issues, though, and I could be wrong. I will give you $6 for it if you are worried, though. >>
I believe the Mint doesn't strike coins according to order. I believe the Mint schedules the time and the quantity for certain coins to be struck in a given day and week. But if orders arrived are much less than anticipated, the Mint will end up having coins already struck but not able to sell.
<< <i>
<< <i>I would assume they are melted, only because I've been seeing the mint release "sales figures" instead of mintage figures now. That could be just for bullion issues, though, and I could be wrong. I will give you $6 for it if you are worried, though. >>
I believe the Mint doesn't strike coins according to order. I believe the Mint schedules the time and the quantity for certain coins to be struck in a given day and week. But if orders arrived are much less than anticipated, the Mint will end up having coins already struck but not able to sell. >>
If this is the case and I believe it is, then the 2007 rarities are already predetermined...and we should be buying some mint employee dinner for the rest of his life if he would let slip what the mintage of each coin is going to be.
I wonder if there are insider trading rules concerning mint employees?
Examples:
Dog coin until they we're considered low mintage: Jackie Robertson $5 gold
End of the year producton example: 2006 W MS Plat coins
<< <i>Coins are produced in batches and reported monthly. If high demand depletes supply another batch will be made. Your rare moderns are the result of end of year coin productions since they won't put though another batch in the next year or coins of that year don't sell well.
Examples:
Dog coin until they we're considered low mintage: Jackie Robertson $5 gold
End of the year producton example: 2006 W MS Plat coins >>
The plats went black long before the end of the year and they did not mint another batch even though demand exceeded supply
<< <i>
<< <i>Coins are produced in batches and reported monthly. If high demand depletes supply another batch will be made. Your rare moderns are the result of end of year coin productions since they won't put though another batch in the next year or coins of that year don't sell well.
Examples:
Dog coin until they we're considered low mintage: Jackie Robertson $5 gold
End of the year producton example: 2006 W MS Plat coins >>
The plats went black long before the end of the year and they did not mint another batch even though demand exceeded supply >>
That's becuse they didn't come out until like late September/early November and the 1/10 ounce all of a sudden sold out in early December. When everyone realized these were more than likely not going to make another run due to all of the holidays the rest of the series went fast.
Most of us plat collectors are use to seeing these not being sold out until the next year. It was a shock for me too. I missed the 1/10 ounce and had to buy one on the BST (NGC MS69) for $325 but purchased the others before black out seeing what was in store.
<< <i>
<< <i>I would assume they are melted, only because I've been seeing the mint release "sales figures" instead of mintage figures now. That could be just for bullion issues, though, and I could be wrong. I will give you $6 for it if you are worried, though. >>
I believe the Mint doesn't strike coins according to order. I believe the Mint schedules the time and the quantity for certain coins to be struck in a given day and week. But if orders arrived are much less than anticipated, the Mint will end up having coins already struck but not able to sell. >>
Yes, that is my point. The mint has been releasing sales figures, not mintage figures--the point being that the mint is likely MELTING the coins that were minted but did not sell. Thus, a true guide to how many coins exist is the sales data, not the mintage data.