U.S. Mint 31½% price increase - Why do this to the 2011 United States Mint Presidential $1 Coin Proo

Goldbully · February 15, 2011 12:48PM

First let me say, these 4 coin $1 President Proof sets are economic staples to YN's and numismatic collector gift givers.
Second let me say, these sets usually have imperfections galore for proof sets.
Thirdly let me say, the price for 2010 was $15.95/set....can't remember price for 2007-2009.
Fourth....why are the 2011 sets now $19.95 for these mediocre+ sets?
Is the 31½% price increase to cover the new and improved look of the 2011 sets????
I know I know, it's just 4 bucks...but I'm just sayin'!!!!!!!!!!

2010 Pres $1 Proof Set

2011 Pres $1 Proof Set

MsMorrisine · February 15, 2011 1:10PM

OMG. $4?

I hadn't checked the prices for them.

And a step backwards in the qualitty of the packaging design.

Can't blame this one on silver prices.

and that insert is just a single piece of plastic now.

Goldbully · February 15, 2011 1:29PM

And a step backwards in the qualitty of the packaging design.

More like ten steps backwards....MsMorrisine, you are always ahead of the game when it comes to the U.S. Mint!!!

It's disappointing that the Mint has gotten away from the classical look of the previous four sets!!!

Dollar2007 · February 15, 2011 1:32PM

I am not sure who is behind the mints new re branding campaign but it looks like they had it finished about 10 years ago and forgot to use it. The new logo is awful and cheap looking, I much preferred the old one. The new packaging looks like somebody designed it in Microsoft Word.

19Lyds · February 15, 2011 1:37PM

The price increase is an attempt to make up for all them customers that fled the US Mint Web Site after they failed to produce a 2009-W Proof or Business Strike. What was it, a 24% drop in orders?

I imagine the other seigniorage losses are due to them continuing to raise their prices for common business strike coins. I know I cut my orders in half.

Evidently, the Presidential Proof Set orders for those First Strike™ label is a money maker for them and they just want to poke the pig a little bit more.

pitboss · February 15, 2011 1:41PM

If I want to poke the pig, I will play pogo instead of buying overpriced mint products.

llafoe · February 15, 2011 2:15PM

It's the 14mg of pure 24kt gold plating applied to each dollar... and with gold surpassing over $1,300 an ounce, the Mint can only guarantee these prices for 7 days!

Obiwancanoli · February 15, 2011 2:56PM

Yeah, it pi**ed me off too... the 2-roll sets also increased 21% - from $32.95 to $39.95...

I can appreciate that the silver issues are higher, perfectly understandable. But Presidential krud? Business strike quarters? I'm not buyin' any more... not when I see them selling for less than retail on the bay... I can pick up the same quality rolls from my bank, without the mark-up.

DuCrozat · February 15, 2011 10:00PM

Their sales analyst needs a refresher course.
Apparently they don't take in to account that sales will drop when people know they are being taken for granted.

1tommy · February 15, 2011 10:04PM

Been buying the bags of quarters all last years for 35.95 . I now see they want 49.95 for 25 dollars in quarters? I will not buy anymore of those and started opening last years bags for an uncoming contest. The mint won't release these coins to the bank so you have to pay if you want to play, I;m done with them...................................

RRich2004 · February 15, 2011 11:42PM

<< First let me say, these 4 coin $1 President Proof sets are economic staples to YN's and numismatic collector gift givers.
Second let me say, these sets usually have imperfections galore for proof sets.
Thirdly let me say, the price for 2010 was $15.95/set....can't remember price for 2007-2009.
Fourth....why are the 2011 sets now $19.95 for these mediocre+ sets?
Is the 25% price increase to cover the new and improved look of the 2011 sets????
I know I know, it's just 4 bucks...but I'm just sayin'!!!!!!!!!!

>>

Cost of sale has no doubt increased for the Mint.

Since the Mint contracts out for the supplies needed for the proof and uncirculated Mint sets to be produced, no doubt their contractors have had to increase their prices due to the economy.

DrBuster · February 15, 2011 11:53PM

They have to find a way to make up for the billion dollar website makeover.

agentjim007 · February 15, 2011 11:56PM

Everything has gone way up (they see what this stuff sells for on ebay). Just wait until you see the price on their ATB's. Who ya going to call this time?

tjc2120 · February 16, 2011 12:02AM

<< Yeah, it pi**ed me off too... the 2-roll sets also increased 21% - from $32.95 to $39.95...

I can appreciate that the silver issues are higher, perfectly understandable. But Presidential krud? Business strike quarters? I'm not buyin' any more... not when I see them selling for less than retail on the bay... I can pick up the same quality rolls from my bank, without the mark-up. >>

I agree - the 2 roll sets really got me. grrrr...

pf70collector · February 16, 2011 12:12AM

Price Increase = QE3 by the Bernanke.

[iT]he price increase is an attempt to make up for all them customers that fled the US Mint Web Site after they failed to produce a 2009-W Proof or Business Strike. What was it, a 24% drop in orders?

I was one of them. Will only buy the 5oz bullion and maybe the platinum 1 oz. if the design is decent enough. I am done with the ASE proofs. Though the 2010 ASE Proof did sell out, but not sure if it was the dealers buying or collectors.

InternetJunky · February 16, 2011 12:44AM

<< 

<< Yeah, it pi**ed me off too... the 2-roll sets also increased 21% - from $32.95 to $39.95...

I can appreciate that the silver issues are higher, perfectly understandable. But Presidential krud? Business strike quarters? I'm not buyin' any more... not when I see them selling for less than retail on the bay... I can pick up the same quality rolls from my bank, without the mark-up. >>

I agree - the 2 roll sets really got me. grrrr... >>

Agreed. It is currently the only thing I have been ordering from the mint because it's the only thing I can afford so when I went to place the order and the price seemed high I had to check my records of my last roll purchase..sure enough they went up. I was also collecting the Silver Proof Sets for the last couple years but not any longer with a sticker price of $67.95 + Shipping.

chumley · February 16, 2011 3:11AM

I have every proof set since 1948,so I guess I,m committed...just ordered 3 silver proof sets at $68 a pop

OPA · February 16, 2011 3:18AM

<< Price Increase = QE3 by the Bernanke.

[iT]he price increase is an attempt to make up for all them customers that fled the US Mint Web Site after they failed to produce a 2009-W Proof or Business Strike. What was it, a 24% drop in orders?

I was one of them. Will only buy the 5oz bullion and maybe the platinum 1 oz. if the design is decent enough. I am done with the ASE proofs. Though the 2010 ASE Proof did sell out, but not sure if it was the dealers buying or collectors. >>

Get set for a sticker shock for your 5 oz ATB's. & to think some of the doogooders complained about APMEX initial price...

PinkFloyd · February 16, 2011 3:29AM

No proof set for me....but I was not interested anyway. The rising prices this year are ridiculous, especially for the non-PM stuff.

tahoe98 · February 16, 2011 8:10AM

...copper has increased steadily for a while. the prez bucks have a good percentage of copper in the mix. that

might be one of the reasons for an increase.

MsMorrisine · February 16, 2011 8:16AM

<< ...copper has increased steadily for a while. the prez bucks have a good percentage of copper in the mix. that

might be one of the reasons for an increase.

>>

not likely.

Each dollar coin has only a few cents worth of metal value.

And this dogooder doesn't regret contacting the mint about the pricing. As I will point out when you pbring up this subject in the future: the numismatic and bullion versions will differ in at least the finishes of the coins and the packaging of the coins. If you are going to complain about the price differential between numismatic and bullion, then why haven't you been complaining about the cost of proof buffalo versus bullion buffalo? Proof AGE vs bullion AGE ??

tahoe98 · February 16, 2011 8:38AM

<< 

<< ...copper has increased steadily for a while. the prez bucks have a good percentage of copper in the mix. that

might be one of the reasons for an increase.

>>

not likely.

Each dollar coin has only a few cents worth of metal value.

And this dogooder doesn't regret contacting the mint about the pricing. As I will point out when you pbring up this subject in the future: the numismatic and bullion versions will differ in at least the finishes of the coins and the packaging of the coins. If you are going to complain about the price differential between numismatic and bullion, then why haven't you been complaining about the cost of proof buffalo versus bullion buffalo? Proof AGE vs bullion AGE ?? >>

...perhaps. but certainly more copper than the cent.

57loaded · February 16, 2011 8:43AM

i had been getting a few of these for the kids...

operative word is HAD

OPA · February 16, 2011 10:11AM

<< 

<< ...copper has increased steadily for a while. the prez bucks have a good percentage of copper in the mix. that

might be one of the reasons for an increase.

>>

not likely.

Each dollar coin has only a few cents worth of metal value.

And this dogooder doesn't regret contacting the mint about the pricing. As I will point out when you pbring up this subject in the future: the numismatic and bullion versions will differ in at least the finishes of the coins and the packaging of the coins. If you are going to complain about the price differential between numismatic and bullion, then why haven't you been complaining about the cost of proof buffalo versus bullion buffalo? Proof AGE vs bullion AGE ?? >>

First of all, I was not complaining...to be exact, I purchased a set from APMEX when they became available. My comment was directed at those who moaned & groaned about the initial price of $1395. I'm very much aware of the difference of a bullion product and a similar "collectors" version offered by the Mint. Suggest you re read my thread and then make the appropriate comment.

Goldbully · February 16, 2011 12:04PM

Each dollar coin has only a few cents worth of metal value.

I figured 7¢ of 'Cu' per coin
Therefore at 7¢ x 4 coins = 28¢ total copper(Cu) cost!!!!!

********************************************************************

This section for mathematicians only.............

There are 7.1 grams of copper in a Prez buck.
Copper is currently $4.47/lb.
Can you do the math??
Hint: You will need your slide rule!!!

CoinUpdate Link

ziggy29 · February 17, 2011 1:02AM

Haven't you heard? The government says there's no inflation, so no COLAs for anyone. I'm sure no one is paying more for food, energy and health care than they were two years ago.....

1tommy · February 17, 2011 1:38AM

<< 

<< 

<< ...copper has increased steadily for a while. the prez bucks have a good percentage of copper in the mix. that

might be one of the reasons for an increase.

>>

not likely.

Each dollar coin has only a few cents worth of metal value.

And this dogooder doesn't regret contacting the mint about the pricing. As I will point out when you pbring up this subject in the future: the numismatic and bullion versions will differ in at least the finishes of the coins and the packaging of the coins. If you are going to complain about the price differential between numismatic and bullion, then why haven't you been complaining about the cost of proof buffalo versus bullion buffalo? Proof AGE vs bullion AGE ?? >>

First of all, I was not complaining...to be exact, I purchased a set from APMEX when they became available. My comment was directed at those who moaned & groaned about the initial price of $1395. I'm very much aware of the difference of a bullion product and a similar "collectors" version offered by the Mint. Suggest you re read my thread and then make the appropriate comment. >>

Its a good thing you don't price there items for the rest of us .....................

Twobitcollector · February 17, 2011 1:41AM

And the mint will loose more customers!!!!

BillJones · February 17, 2011 1:45AM

These sets were a bad buy when they introduced years ago at lower prices. When I was dealer, I could barely give them away. Even if you get lucky and get a set that is not spotted, you still can’t get your money back in the secondary market.

The best way to greet these new higher prices is to just say “No.”

Goldbully · March 11, 2011 10:40AM

OK, anyone want to report on the quality of these sets that are now in hand?
For an extra 31½%, I expect a spotless group of Prezzies!!!

MaineJim · March 11, 2011 12:41PM

This year I cancelled all my "prescriptions" with the mint.

Maine_Jim

Goldbully · March 18, 2011 8:28AM

Today I received my annual 2 sets of the Proof Pres. Dollars....one for me, one for my friend.
We usually decide who gets the worst of the two sets each year.
Well, to my surprise and shock......both sets are of top quality...no marks or dings anywhere!!!!
They are very nice looking coins!!
Thank you U.S. Mint.

pitboss · March 18, 2011 9:07AM

It has to be something I really want or I will not buy it. All my subscriptions have been cancelled.

OPA · March 18, 2011 9:32AM

BTW the Mint repriced their 2010 silver quarter & silver proof set today...upwards. ( See Mint's website for pricing)

Obiwancanoli · March 18, 2011 10:46AM

What a bunch of baloney!

I wrote a letter to the Mint, expressing my sincere and deliberate disgust with their unjustified (to the public) pricing on clad issues... I should have waited to include their retroactive pricing on silver products they've already paid for, already minted, and already packaged. Thius is simply and plainly PROFITEERING!

Expoiting hobbyists to make an extra buck in the budget when profits were already priced into the product is just plai mercenary. I've had it, and my letter stated that most unequivocally.

I recommend you do the same.

epcjimi1 · March 18, 2011 11:05AM

<< BTW the Mint repriced their 2010 silver quarter & silver proof set today...upwards. ( See Mint's website for pricing) >>

Yeah, upward, no kidding!

2010 United States Mint America the Beautiful Quarters Silver Proof Set™ (SV2)
Price: $39.95

Was - $32.95

My math tells me that's an 18% increase.

Glad I bought 10 sets @ $32.95.

paladin · March 18, 2011 11:28AM

I called The Mint last week to ask why they raised the price on the 2011 quarters. Charging double face for business strikes also seems like profiteering. The CSR I spoke with said "they went up the same percentage as everything else in the economy". I pointed out that increasing the price of a bag of quarters from $35.95 to $49.95 is a 39% increase, and I was pretty sure we don't have a 39% yearly rate of inflation, at least not yet. At that point she said she didn't know why they went up so much & hung up. Customer service at its finest.

U.S. Mint 31½% price increase - Why do this to the 2011 United States Mint Presidential $1 Coin Proo

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