1) Lower the prices. 2) Everybody returns their recently-bought gold & platinum, and they order at the lower prices. 3) The Mint refunds the returns, but does NOT ship any of the new orders because the gold and platinum suddenly needs to be diverted elsewhere ? >>
As hard as it is for me to believe or understand, it seems possible the Mint is planning another price adjustment.
It's inconceivable that all the other coins sold out.
Also, all of the First Spouse Golds are listed as no longer available except for the lower priced Dolley Madison coin. To me that would support the repricing theory.
They may be repricing. They are preventing their customers from ordering from today til the sale because they don't want returns that may occur in that window because of lowering the prices this Saturday. If they reprice the spouse gold lower near melt I will get the Liberties. It will be a madhouse on Saturday at the mint I think despite the economy if bargains are to be had.
So it seems that the 30 day reprice trick is a likely option too!
They've done it before. It's the most logical way to prevent a bunch of returns because of a repricing.
Also, having looked back on the press release, it's not clear to me that the discontinued bullion coins were intended to be included in the clearance sale, or that the drop dead date for orders for those coins is December 19.
Tuesday, November 11, 2008 Thoughts on US Mint Product Discontinuations
The Mint is also presumably still holding onto approximately 12,000 unsold 2007 10th Anniversary Platinum Eagle Sets. These were produced at the end of 2007, meaning that the platinum was definitely acquired at higher price levels. These sets have been suspended since August and have not made a reappearance.
In related news, the US Mint will be offering a "Last Chance Sale" to clear their inventory of some of the discontinued products.
The list of discontinued products includes:
American Buffalo Uncirculated Gold Coins - These are the versions offered by the US Mint with the "W" mint mark. All fractional denominations, 4 coin set, and the one ounce coin will be discontinued. No offerings will remain.
American Buffalo Proof Gold Coins - The fractional 1/2 oz, 1/4 oz, 1/10 oz coins and 4 coin set will be discontinued. Only the one ounce Proof coin will remain. American Platinum Eagle Uncirculated Coins - These are the versions offered by the US Mint with the "W" mint mark. All fractional denominations, 4 coin set, and the one ounce coin will be discontinued. No offerings will remain.
American Platinum Eagle Proof Coins - The fractional 1/2 oz, 1/4 oz, 1/10 oz coins and 4 coin set will be discontinued. Only the one ounce Proof coin will remain. American Gold Eagle Uncirculated Coins - These are the versions offered by the US Mint with the "W" mint mark. The fractional 1/2 oz, 1/4 oz, 1/10 oz coins and 4 coin set will be discontinued. Only the one ounce Proof coin will remain.
With the Dow at 8000 do you think anyone will buy the remaining stock whether at a discounted price or not? These babies might be headed for the melter.
Seems like http://mintnewsblog.blogspot.com/ is interpreting the announcement as the discontinued bullion products being part of the "Last Chance Sale."
Also a good point about those 2007 anniversary sets. It would only make sense for those to be part of the last chance sale... clearance price for those would probably have to be under $1,000 to get any takers.
With the Dow at 8000 do you think anyone will buy the remaining stock whether at a discounted price or not? These babies might be headed for the melter.
Melting them all would be the biggest favor they could do us. Save all the drama.
The sale price Sat for plat will very slightly lower than the current price.
gold has been pulled and will be re-priced to reflect the current spot price of gold
Coins had to be pulled: if you bought prior to the Sat. sale you still have the 30 day return window, if you buy during the sale you cannot return so you have to keep the coins. if you bought before they were pulled, and again during the sale, you keep sale priced coins and return return the higher priced coins. Im surprised they did not pull all coins prior to announcing the sale.
It sounds like they plan to lower prices between 8% to 10% across all bullion so I am not sure that is enough to sell all out quickly, but we will see.
Ok, we all know that the 2008 fractionals will be repriced and available shortly. Does anybody think that there will be some of the prior years' plats in the clearance sale besides the 2007 Anniversary set? What happened to the fractional proof plats from 04, 05 and 06 that didn't sell? Are they still stored in the backrooms of the fullfilment center or were they all melted? The line in the mint article about the clearance sale that stated "If you’re wondering, we won’t exceed any Mint limits.” and that past sales figures may increase has had me wondering. How far back will they go? "
Does all of this mean that there won't be an upcoming "Presidential Pets" series of coins? I was looking forward to some more sequels to the presidential series.
What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS >>
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS >>
Just order another set, cherry pick and send back the others under the 30 day return, that is if they ship them in a timly manner.
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS >>
Just order another set, cherry pick and send back the others under the 30 day return, that is if they ship them in a timly manner. >>
Problem is they went on backorder yesterday and you are risking not receiving them if you order today. The belief is the sets were short minted.
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS >>
Just order another set, cherry pick and send back the others under the 30 day return, that is if they ship them in a timly manner. >>
Problem is they went on backorder yesterday and you are risking not receiving them if you order today. The belief is the sets were short minted. >>
They are not on back order any more. If they don't go dark soon it would seem to indicate that they were not short minted. Very confusing.
I admit that it is confusing about the 4 cn Platinum unc-W set. Given the haste at which the US Mint has repriced the coins, it is possible that they are still accepting orders for a "back-ordered" set. A safe approach might be to order the set now and you probably have about a week to return the previously purchased set. If you are confirmed, you know that you can return the previous set. So there is about one week of leeway.
Having reviewed the repricing of most of this, it certainly is significant enough to create an incentive to do returns for some items, like the platinum proof sets.
I just spoke to a Mint rep who informed me that orders that have been placed earlier in the week that are not shipped out yet will be price adjusted to the new prices.
Comments
<< <i>One possible scenario:
1) Lower the prices.
2) Everybody returns their recently-bought gold & platinum, and they order at the lower prices.
3) The Mint refunds the returns, but does NOT ship any of the new orders because the gold and platinum suddenly needs to be diverted elsewhere ? >>
dcarr
#3 is suspect. What are we saying?
Ren
It's inconceivable that all the other coins sold out.
Also, all of the First Spouse Golds are listed as no longer available except for the lower priced Dolley Madison coin. To me that would support the repricing theory.
US Mint First Spouse Gold Listing
This is a Gambit on the part of the mint.
Box of 20
But wouldn't everyone just place an order at the lower price at the same time they return what they have for refund?
<< <i>I think they are repricing to lower levels and if you do a return you will just get a refund and those returned coins will go to the melter.
But wouldn't everyone just place an order at the lower price at the same time they return what they have for refund? >>
If they are not yet sold out, yes. However they likely will sell out quickly and close the books. Return them and you get nothing...
You see where I am going with this?
You see where I am going with this?
Well, the way around that is buy the repriced coins, and return what's in hand once your order is confirmed.
They've done it before. It's the most logical way to prevent a bunch of returns because of a repricing.
Also, having looked back on the press release, it's not clear to me that the discontinued bullion coins were intended to be included in the clearance sale, or that the drop dead date for orders for those coins is December 19.
Thoughts on US Mint Product Discontinuations
The Mint is also presumably still holding onto approximately 12,000 unsold 2007 10th Anniversary Platinum Eagle Sets. These were produced at the end of 2007, meaning that the platinum was definitely acquired at higher price levels. These sets have been suspended since August and have not made a reappearance.
In related news, the US Mint will be offering a "Last Chance Sale" to clear their inventory of some of the discontinued products.
The list of discontinued products includes:
American Buffalo Uncirculated Gold Coins - These are the versions offered by the US Mint with the "W" mint mark. All fractional denominations, 4 coin set, and the one ounce coin will be discontinued. No offerings will remain.
American Buffalo Proof Gold Coins - The fractional 1/2 oz, 1/4 oz, 1/10 oz coins and 4 coin set will be discontinued. Only the one ounce Proof coin will remain.
American Platinum Eagle Uncirculated Coins - These are the versions offered by the US Mint with the "W" mint mark. All fractional denominations, 4 coin set, and the one ounce coin will be discontinued. No offerings will remain.
American Platinum Eagle Proof Coins - The fractional 1/2 oz, 1/4 oz, 1/10 oz coins and 4 coin set will be discontinued. Only the one ounce Proof coin will remain.
American Gold Eagle Uncirculated Coins - These are the versions offered by the US Mint with the "W" mint mark. The fractional 1/2 oz, 1/4 oz, 1/10 oz coins and 4 coin set will be discontinued. Only the one ounce Proof coin will remain.
http://mintnewsblog.blogspot.com/
Seems like http://mintnewsblog.blogspot.com/ is interpreting the announcement as the discontinued bullion products being part of the "Last Chance Sale."
Also a good point about those 2007 anniversary sets. It would only make sense for those to be part of the last chance sale... clearance price for those would probably have to be under $1,000 to get any takers.
Melting them all would be the biggest favor they could do us. Save all the drama.
The sale price Sat for plat will very slightly lower than the current price.
gold has been pulled and will be re-priced to reflect the current spot price of gold
Coins had to be pulled: if you bought prior to the Sat. sale you still have the 30 day return window, if you buy during the sale you cannot return so you have to keep the coins. if you bought before they were pulled, and again during the sale, you keep sale priced coins and return return the higher priced coins. Im surprised they did not pull all coins prior to announcing the sale.
I also hear you get a spoon with every order.
Who says collecting the moderns is not exciting!
<< <i>The Fed’s need all that gold and platinum for the CEO’s parachutes involved in the 700,000,000+ bailout. >>
Maybe Bush and Co want to loot the treasury of the last remaining gold and platinum along with the 1+ Trillion they stole from the American people!
<< <i>
<< <i>The Fed’s need all that gold and platinum for the CEO’s parachutes involved in the 700,000,000+ bailout. >>
Maybe Bush and Co want to loot the treasury of the last remaining gold and platinum along with the 1+ Trillion they stole from the American people!
Political police-arrest that man.
<< <i>
<< <i>
<< <i>The Fed’s need all that gold and platinum for the CEO’s parachutes involved in the 700,000,000+ bailout. >>
Maybe Bush and Co want to loot the treasury of the last remaining gold and platinum along with the 1+ Trillion they stole from the American people!
Political police-arrest that man. >>
A vote for change, and CHANGE is what you get
``https://ebay.us/m/KxolR5
<< <i>So, the Mint will still be making APE and AGE fractional bullion coins?
Just the proofs and unc-w's are being discontinued? >>
Anyone think that the UNCS will be a good hold?
<< <i>
<< <i>So, the Mint will still be making APE and AGE fractional bullion coins?
Just the proofs and unc-w's are being discontinued? >>
Anyone think that the UNCS will be a good hold? >>
They have to be with those mintage's but don't expect it overnight.
Just the proofs and unc-w's are being discontinued?
>>They have to be with those mintage's but don't expect it overnight.
I'm not a big believer in the non-w fractional bullion coins, but that's just my opinion.
I do think that, for the money, the discontinued changing reverse fractionals and buffalo golds have more upside potential than anything else.
"
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
The 1/10 Platinum Proof is $50 MORE !!! $2000 an ounce.
It was $149 for the 1/10.
Not much of a sale, unless they change the price Friday.
1oz was $1214.95 now $1,069.95
1/2 was $619.95 now $569.95
Set was $2219.95 now $2089.95
<< <i>Prices went down on the unc w plats. >>
I know. I just picked up a set.
Looks like they are trying to screw the public.
The fractionals went UP !!
1/4 buffalo @ $312. Spot is $177. Is this a joke ??
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS
Will they be scuffed?
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS
Just order another set, cherry pick and send back the others under the 30 day return, that is if they ship them in a timly manner.
1/10 proof buff- $164
1/10 proof plat- $199
<< <i>
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS
Just order another set, cherry pick and send back the others under the 30 day return, that is if they ship them in a timly manner. >>
Problem is they went on backorder yesterday and you are risking not receiving them if you order today. The belief is the sets were short minted.
<< <i>
<< <i>
<< <i>What the h--- is the Mint thinking lowering prices with the return window open? I paid $130 more for the platinum 4 coin unc sets but am not risking returning and reordering. However, the halves go back today. IDIOTS
Just order another set, cherry pick and send back the others under the 30 day return, that is if they ship them in a timly manner. >>
Problem is they went on backorder yesterday and you are risking not receiving them if you order today. The belief is the sets were short minted. >>
They are not on back order any more. If they don't go dark soon it would seem to indicate that they were not short minted. Very confusing.
I admit that it is confusing about the 4 cn Platinum unc-W set. Given the haste at which the US Mint has repriced the coins, it is possible that they are still accepting orders for a "back-ordered" set. A safe approach might be to order the set now and you probably have about a week to return the previously purchased set. If you are confirmed, you know that you can return the previous set. So there is about one week of leeway.
I've called the Mint (customer service and then the Office of Public Affairs....
Of course, they don't appear to have anticipated that this creates a logistical problem for returns and reorders...
I'm seeing if this might be addressed, but I don't have much hope for a quick response.
<< <i>2008 American Eagle Platinum Uncirculated Four-Coin Set (T8E) $2,089.95 Backordered >>
Good news!!