True or false: The U.S. Mint is run by chimpanzees dressed in clown suits.

dorkbar · July 10, 2007 9:12AM

Day 1: First spouses to ship 7/5.
Then: First spouses to ship 7/17.
Then: First spouses to ship 8/1.
Now: First spouses to ship 9/4.

Not one of the chimps could figure the spouses might be popular if limited, and plan realistic production/delivery times?

Is it too early to shop for alternative Christmas gifts?

21Walker · July 10, 2007 9:15AM

False, They are clowns dressed as chimps and just funnin' with ya..........Rick

HonoluluDude · July 10, 2007 9:19AM

Ahh yes, yet another thread by another satisfied Mint customer.

FLBuffaloHunter · July 10, 2007 9:22AM

In Numismatic News this week, the Mint has stated the demand for the first two First Spouse coins exceeded their most optimistic forecasts that were based on market reasearch i.e. cancelled subscription program. IMO they were simply caught with their pants down and no product to ship. The effect this supply induced scarcity has had on the escalating aftermarket prices for the coins, is concerning to the Mint. They have stated they are concerned about the perception collectors who were shut out might have. I am confident they will address this issue for the next First Spouse coin release and hopefully they will have sufficient stock ready to ship.

RichieURich · July 10, 2007 9:35AM

<< In Numismatic News this week, the Mint has stated the demand for the first two First Spouse coins exceeded their most optimistic forecasts that were based on market reasearch i.e. cancelled subscription program. IMO they were simply caught with their pants down and no product to ship. The effect this supply induced scarcity has had on the escalating aftermarket prices for the coins, is concerning to the Mint. They have stated they are concerned about the perception collectors who were shut out might have. I am confident they will address this issue for the next First Spouse coin release and hopefully they will have sufficient stock ready to ship. >>

How could "the demand exceed their most optimistic forecasts"? They announced a mintage limit of 40,000 for each coin. All they needed to know was how many were going to be proofs and how many were going to be uncirculated. It can't possibly take that long to produce 80,000 gold coins, can it?

tightbudget · July 10, 2007 9:35AM

No, they are actually chimpanzees.

Scioto · July 10, 2007 9:39AM

False.

From the usmint.gov site:

Mission

The United States Mint applies world-class business practices in
making, selling, and protecting our Nation’s coinage and assets.

— U.S. Mint Strategic Plan
The primary mission of the United States Mint is to produce an adequate volume of circulating coinage for the nation to conduct its trade and commerce. In recent history circulating coin production has varied between 11 billion and 20 billion coins annually. In addition to producing coins, the United States Mint has other responsibilities, including the following:

Distributing U.S. coins to the Federal Reserve banks and branches.
Maintaining physical custody and protection of the Nation's $100 billion of U.S. gold and silver assets.
Producing proof, uncirculated, and commemorative coins, and medals for sale to the general public.
Manufacturing and selling platinum, gold, and silver bullion coins.
Overseeing of production facilities in Denver, Philadelphia, San Francisco and West Point, as well as the U.S. Bullion Depository at Fort Knox, Kentucky.
---------------------------------

First Spouse and all the other fluff rates 4th or 5th.

Quit whining.

FLBuffaloHunter · July 10, 2007 9:41AM

<< How could "the demand exceed their most optimistic forecasts"? They announced a mintage limit of 40,000 for each coin. All they needed to know was how many were going to be proofs and how many were going to be uncirculated. It can't possibly take that long to produce 80,000 gold coins, can it? >>

Actually the mintage is 160,000 across all product options. Being these are hand fed into the press, I imagine it does take a while. That combined with the other Mint products being released at the same time after being delayed has created a backlog in products avaliable for immediate shipment IMO.

Writersblock · July 11, 2007 1:05AM

<< In Numismatic News this week, the Mint has stated the demand for the first two First Spouse coins exceeded their most optimistic forecasts that were based on market research i.e. canceled subscription program. >>

I'm not sure how that could be considering the coins sold out on the subscription program as well before they canceled it. So they should have had a pretty good idea that they would also sell out when they went on live sale.

As for how long it should take to strike 160,000 coins, if they use two presses at 15 coins per minute per press, (4 seconds per coin) and run three shifts they could strike them in 4 days, five at the outside. If they only run one shift then 3 weeks.

TwoSides2aCoin · July 11, 2007 1:07AM

The mint is just giving you some more time to decide if you really want to put such a strain on your credit card.

This way, if you cancel, some dignitary's wife might get one

TomB · July 11, 2007 1:07AM

The limit is 40,000 per spouse, which would total to 80,000 coins for the Washington and Adams issues, not 160,000.

Pentimento · July 11, 2007 1:09AM

The Congressional Budget Office estimated that the Mint would only need 10,000 of each design. Just think if the Mint had listened to those guys.

MrEureka · July 11, 2007 1:25AM

True or false: The U.S. Mint is run by chimpanzees dressed in clown suits.

CU bought the US Mint?

OPA · July 11, 2007 1:27AM

The Mints primary mission is to mint & supply coins to the Federal Reserve Banks and not to satisfy the numismatic community. The net income derived from numismatic sales is very minimal & would be a loss if it's not for the unc. rolls that they offer for sale. So stop your complaining & live with the fact that other than minting numismatic items, everything else from packaging, shipping, taking calls & orders, is handled by outsourced private industry.

carl · July 11, 2007 1:34AM

From the standpoint of a person that frequents Zoos, I respectfully object to the attempt to lower the mental standards of our nearest relatives. If your were to go to a zoo and tell a Chimp you thought they were possible government employee potentials, you'ld probably get a pile of you know what thrown at you.

Pentimento · July 11, 2007 1:52AM

<< The Mints primary mission is to mint & supply coins to the Federal Reserve Banks and not to satisfy the numismatic community. The net income derived from numismatic sales is very minimal & would be a loss if it's not for the unc. rolls that they offer for sale. So stop your complaining & live with the fact that other than minting numismatic items, everything else from packaging, shipping, taking calls & orders, is handled by outsourced private industry. >>

The Mint only made a profit on unc. rolls?? That is a really far out statement. You don't think the gold buffalo, the 20th eagle sets, and all that stuff made a profit for the Mint? Take a look at the budget again.

The Numismatic program includes five types of coin products, which the United States Mint markets and sells to the public, including 1) Bullion Coins, 2) American Eagle Proof Coins, 3) Recurring Coin Programs, 4) Commemorative Coins and 5) Medals.

rgl1345 · July 11, 2007 2:01AM

Proctology patients

DeepCoin · July 11, 2007 2:06AM

I suspect the Mint has produced most if not all of the coins. If you check the packaging, the nice box...etc, I think you will find the source of the delays. The Mint forecasted a relatively low demand for these coins. While the dies are made and blanks in stock the orders for expensive packages was most likely to the original forecast.

Getting more fancy boxes in a quantity of perhaps 100,000 on short notice when the original orders were probably in the 30,000 range (ALL of this is a WAG) could produce significant delays in the ability to ship.

This is all just a guess, but not an unreasonable assumption given the information available.

mrpotatoheadd · July 11, 2007 2:08AM

When I first started buying coins from the mint, you sent your order in and, maybe 6 or 8 months later, your coins showed up in the mailbox. There was nobody to call to ask about delivery times and no internet available for checking your order status.

I think they're doing better now, but then, that's just me.

TheRaven · July 11, 2007 2:42AM

You are not charged for your coins, so what does it really matter?

As long as I got my coins that is what I cared about.....

ModernCrapNut · July 11, 2007 2:54AM

Sit down, relax and have a

You'll live longer.

roadrunner · July 11, 2007 3:35AM

I believe you owe both clowns and chimpanzees an apology.

roadrunner

COINB0Y · July 11, 2007 4:14AM

Who ever it is running the place, they can't count no matter what else they attempt.

They never know how many they sold or made, ever.

They can't even forcast when it's right in front of them i.e. subscriptions.

They DO know how to count Pay Grades, the Matched Pension totals, and the insurance deductable the pay...oops they don't pay any deductable...anyway...

PerryHall · July 11, 2007 4:17AM

<< I believe you owe both clowns and chimpanzees an apology.

roadrunner >>

slipgate · July 11, 2007 4:22AM

Clown suits are against government policy, they have to wear short sleeved dress shirts with a loose tie and the top (tie) button unbuttoned. That is the trademark of a gov't employee.

TwoSides2aCoin · July 11, 2007 4:22AM

Coinboy:
Think monkey, production line, and no bananas.

OPA · July 11, 2007 5:26AM

<< 

<< The Mints primary mission is to mint & supply coins to the Federal Reserve Banks and not to satisfy the numismatic community. The net income derived from numismatic sales is very minimal & would be a loss if it's not for the unc. rolls that they offer for sale. So stop your complaining & live with the fact that other than minting numismatic items, everything else from packaging, shipping, taking calls & orders, is handled by outsourced private industry. >>

The Mint only made a profit on unc. rolls?? That is a really far out statement. You don't think the gold buffalo, the 20th eagle sets, and all that stuff made a profit for the Mint? Take a look at the budget again.

The Numismatic program includes five types of coin products, which the United States Mint markets and sells to the public, including 1) Bullion Coins, 2) American Eagle Proof Coins, 3) Recurring Coin Programs, 4) Commemorative Coins and 5) Medals. >>

I need a translation into plain English... an accountant ... to dig through the Mint's Annual Report to identify their numismatic profit margin.

US MINT ANNUAL REPORT

57loaded · July 11, 2007 5:29AM

FALSE...we were the chimps ordering the stuff.

"Walk a Mile" then come back.

fastrudy · July 11, 2007 5:32AM

FALSE...we were the chimps ordering the stuff.

did you mean 'chumps'?

ddink · July 11, 2007 9:42AM

<< When I first started buying coins from the mint, you sent your order in and, maybe 6 or 8 months later, your coins showed up in the mailbox >>

What's changed?

mrpotatoheadd · July 11, 2007 9:52AM

<< What's changed? >>

You mean aside from the fact that nowadays, I can order online or on the phone instead of sending a money order in the mail, that I get email confirmation of my order so that I know it's been received, that I can check my order status online to find out when I might expect my coins to arrive, and that I have generally gotten my order within a month or so of ordering? Not much, I guess- besides, there's still as many letters to the editor in the coin papers complaining about the mint as there ever was...

dtkk49a · July 11, 2007 12:14PM

The Mint obviously did not take into consideration all the "collectors" who only bought the hags to First Strike grade them and flip them on eBay.The question is why didn't they, especially after the plat and 20th anniv ASE frenzies?

OPA · July 11, 2007 1:43PM

<< The Mint obviously did not take into consideration all the "collectors" who only bought the hags to First Strike grade them and flip them on eBay.The question is why didn't they, especially after the plat and 20th anniv ASE frenzies? >>

I had no idea that we had a "Plat frenzy" last year.

I remember it took over 1 month to sell out the 20th Anniv. ASE's & almost 2 days to sell out the AGE's ...

ms70 · July 11, 2007 1:57PM

<< True or false: The U.S. Mint is run by chimpanzees dressed in clown suits. >>

Let's just bottom line it. They suck.

LincolnCentMan · July 11, 2007 2:27PM

A message. that I thought everyone would enjoy seeing. ...all in good fun.

-David

Topdollarpaid · July 11, 2007 2:30PM

when my customers state that proofs were never touched by human hands

I tell them thats right monkeys put the proofs in the little packages...................LOL

ModernCrapNut · July 11, 2007 7:23PM

<< A message. that I thought everyone would enjoy seeing. ...all in good fun.

-David >>

It seems like this is not about anxious to get the coins for one's collection, but about getting the coins to flip during the short time they will be hot.

ddink · July 11, 2007 9:07PM

<< You mean aside from the fact that nowadays, I can order online or on the phone instead of sending a money order in the mail, that I get email confirmation of my order so that I know it's been received >>

Yep, those are nice changes.

<< I can check my order status online to find out when I might expect my coins to arrive, and that I have generally gotten my order within a month or so of ordering? >>

Since when have you known the dates one order status page to be correct? That's a pretty good one. I'm glad you're having such a great experience with the Mint. I'll give you a rundown of my own personal experiences with them, if you don't mind?

2001--Order 2001 Proof Silver Eagles. Finally received them three months after ordering.

2001--Ordered 2001 Buffalo Commemeratives. Received them five months after ordering.

Ordered Ben Franklin coins, received them two months after ordering.

Ordered Marine Commems, received them three months after ordering.

Ordered 10 2005 Mint sets. Received them within a month. Was displeased with the quality, so I returned them with "refund my money" clearly checked on the return form. Instead of refunding my money, they sent me replacement sets. I still didn't like them, so I sent them back again. This time around, they neither sent me new sets *nor* refunded my money. Next time I called the Mint to place an order, their accounting department told me that I still owed them $160 from the returned Mint sets!

2006--Ordered 20th Anniversary Silver sets. Received them four months later.

2007--In a miracle of modern efficiency, the GW FDCCs that I ordered were received within a week.

My conclusion? The Mint is a pain in the butt, but there is no real alternative to ordering from them. Consequently, I submit my orders and try to forget about the coins. I'm reasonably confident I'll receive them within the next year or so.

True or false: The U.S. Mint is run by chimpanzees dressed in clown suits.

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