The 2011 Mint sets suck!!

Manorcourtman · February 16, 2011 7:58AM

EOM. Just thought I'd post my impression after spending the last 4 hours closely examining them! The Lincolns had spots, the Jeffers look like they were used at the slots in Vegas, the quarters were so bad my wife commented they looked "used" and the halves had haze and endless slashes. That being said it was nice to see some prooflike Sacs and prexie bucks! Overall I give the Mint a C- for quality. For those who get them and are impressed......put them under a light or in the sunshine, you'll see what I'm talking about!!

edit for speeling

19Lyds · February 16, 2011 8:34AM

Uh Oh!

Another satisfied US Mint Customer!

IMO, if they are going to sell Uncirculated coin sets for outrageously high prices then they need to eliminate bagging these coins up prior to packaging them up as it certainly sounds like, you got the "bottom of the bag" coins!

vann · February 16, 2011 8:47AM

I think you guys are overlooking the opportunity the new sets have in yielding high grade businness strikes vs bank rolls. The special production, and better quality strikes of the mint set coins are going to make for a higher average grade on business strike sets.

SUMORADA · February 16, 2011 9:08AM

vann

Manorcourtman · February 16, 2011 9:12AM

<< I think you guys are overlooking the opportunity the new sets have in yielding high grade businness strikes vs bank rolls. The special production, and better quality strikes of the mint set coins are going to make for a higher average grade on business strike sets.

>>

I have searched for gem business strikes for years. The quarters in these sets are junk as they have been for several years. I bet this years top pops come out of OBW's!! They are that bad! And I'm telling you there was no special production for these sets!! They are simple business strikes with no special handling.....or maybe I should say mishandling!

19Lyds · February 16, 2011 9:16AM

<< I think you guys are overlooking the opportunity the new sets have in yielding high grade businness strikes vs bank rolls. The special production, and better quality strikes of the mint set coins are going to make for a higher average grade on business strike sets.

>>

I suppose it could be possible but I don;t really believe it.
It does not matter one bit what "production technique" is used or how hight the tonnage is on the press because if you beat them up during the packaging phase, it defeats the purpose of a "special production"!

The 2006-2010 Satin Finish coins are proof of that. 90% of them were junk.

..

I'm sorry, I used the wrong phrase, I meant to say "overpriced junk".

jmski52 · February 16, 2011 9:20AM

My Mint Sets arrived today!!

Now, I'm almost afraid to open them.

Welcome, vann!

tahoe98 · February 16, 2011 9:31AM

...

vann

vann · February 16, 2011 9:35AM

Thank you, nice to be here! The bank roll Presidential coins average 65-67 (very few 68). The satin coins average 67-69. The new mint sets should grade about the same. I have yet to receive my sets, but from what I understand these are better quality than coins from rolls. I spoke with NGC and they are also accepting the mint set coins for the FDI designation since there is not enough difference from the business strikes for the SMS label. As the graded populations get skewed higher from new submissions of mint set coins there will be little point searching and submitting bank roll coins looking for high grades. That should make bank tellers happy

RichieURich · February 16, 2011 9:44AM

Don't sugar-coat it, Manorcourtman! Let us know how you really feel!

The quality of some of the U. S. Mint's products has declined over the last few years, particularly uncirculated coins. And Coin World reported that the Mint lost 25% of its customer base last year. Wonder if these things are related?

ROBBItheOKIE · February 16, 2011 9:59AM

Welcome Vann, and since I don,t buy mint set anymore hard for me to comment on them, but it seems the coins that go in them are no different than those that are shipped out to the federal reserves, all are shipped in tubs instead of bags anymore, which greatly increases the chance of marks upon the coins due to more weight upon the bottom coins and other factors, I am sure that when these coins get to the processing center where the mint sets are packaged and assembled they are not picked out by hand, more probably dumped out of the tub into a feeding bin upon an assembly line. Thats just my opinion and I really dont know how the mint sets are assembled.

SUMORADA · February 16, 2011 10:05AM

I'm sorry, I used the wrong phrase, I meant to say "overpriced junk".

Lee, do not worry once the word gets out that the sets are junk the mint will throw in a doubled die,extra tree or leaf here and there..........

pontiacinf · February 16, 2011 10:06AM

<< I think you guys are overlooking the opportunity the new sets have in yielding high grade businness strikes vs bank rolls. The special production, and better quality strikes of the mint set coins are going to make for a higher average grade on business strike sets.

>>

welcome to the boards my friend.

19Lyds · February 16, 2011 10:15AM

<< Thank you, nice to be here! The bank roll Presidential coins average 65-67 (very few 68). The satin coins average 67-69. The new mint sets should grade about the same. I have yet to receive my sets, but from what I understand these are better quality than coins from rolls. I spoke with NGC and they are also accepting the mint set coins for the FDI designation since there is not enough difference from the business strikes for the SMS label. As the graded populations get skewed higher from new submissions of mint set coins there will be little point searching and submitting bank roll coins looking for high grades. That should make bank tellers happy

>>

I think you have a lot to learn but then, there's no better place to learn it.

vann · February 16, 2011 10:18AM

Coins from bank rolls are mass produced (at least 30 million plus for the latest quarters and dollars) by the mint using the presses on the main production floor and then shipped in ballistic bags to the contracted wrapping facilities. In contrast mint set coins are struck with greater force on special presses and have a mintage of less than 1 million. The special production and being individually packaged makes for higher grade coins on average (as shown by the satin coin population reports). The business strike market for moderns will have to adjust to the higher grades, like it has for the satin coins. The difference being the new mint set coins are designated the same as the coins from rolls.

19Lyds · February 16, 2011 10:29AM

<< Coins from bank rolls are mass produced (at least 30 million plus for the latest quarters and dollars) by the mint using the presses on the main production floor and then shipped in ballistic bags to the contracted wrapping facilities. In contrast mint set coins are struck with greater force on special presses and have a mintage of less than 1 million. The special production and being individually packaged makes for higher grade coins on average (as shown by the satin coin population reports). The business strike market for moderns will have to adjust to the higher grades, like it has for the satin coins. The difference being the new mint set coins are designated the same as the coins from rolls. >>

Tell that to Manorcourtman.

vann · February 16, 2011 11:19AM

<< Tell that to Manorcourtman.

>>

I guess he got some banged up sets. NGC was telling me how nice the coins looked compared to the ones from rolls. Satin sets usually yield 67 or better, and even a few 69's are possible if you go through them. Since Presidential business strike coins graded MS68 or better are rare (you're lucky to even get a MS67 from a bank roll Prezzie buck), I bet the first MS68's mint set coins to hit eBay will probably go for way more than after the market has adjusted to the higher grades. On a side note, since the new, higher graded business strike coins will be more common, it should also drive up the price for the previous business coins in high grades since those are far less common.

BeeMan · February 16, 2011 11:38AM

The cents in mine look pretty good, no spots. The Presidential Dollars have the spots! The quarters have them also.

lordmarcovan · February 16, 2011 11:48AM

EOM?

Wow, those presidents have some dueling scars.

johnny9434 · February 17, 2011 4:10AM

<< vann

>>

yes vann, welcome to the forums

19Lyds · February 17, 2011 4:23AM

<< 

<< Tell that to Manorcourtman.

>>

I guess he got some banged up sets. NGC was telling me how nice the coins looked compared to the ones from rolls. Satin sets usually yield 67 or better, and even a few 69's are possible if you go through them. Since Presidential business strike coins graded MS68 or better are rare (you're lucky to even get a MS67 from a bank roll Prezzie buck), I bet the first MS68's mint set coins to hit eBay will probably go for way more than after the market has adjusted to the higher grades. On a side note, since the new, higher graded business strike coins will be more common, it should also drive up the price for the previous business coins in high grades since those are far less common. >>

Common high grade business strikes never drag up the price on their undergraded counterparts.

As soon as an MS68 gets graded, the price for MS67's go into the toilet.

Folks are certainly entitled to their opinions but I'm a firm believer that "opinions" should have some basis in facts and I'm of the opinion (based on keenly acute observation

) that once the high grade on a "modern" coin becomes #2 in the high grade list, Mr. #2 coin falls into the potty pan never to command a premium again.

LanLord · February 17, 2011 4:35AM

Interesting, all my 2011 mint sets (all 2 of them) look pretty clean.

vann · February 17, 2011 4:55AM

<< As soon as an MS68 gets graded, the price for MS67's go into the toilet.

Folks are certainly entitled to their opinions but I'm a firm believer that "opinions" should have some basis in facts and I'm of the opinion (based on keenly acute observation

) that once the high grade on a "modern" coin becomes #2 in the high grade list, Mr. #2 coin falls into the potty pan never to command a premium again. >>

MS68 or better for business strike coins from bank rolls are anything but common. As the graded populations currently show, even ms67 business strikes are scarce. Since going forward MS68 or better will be the new standard for high grade business strikes for 2011 coins and on from new submissions of mint set coins there should be more demand for the top grades of the previous issues since those are by far less common and there will be a larger number of high grade business strike sets possible than prior to the mint changing the finish of the mint set coins. Keep looking out for the new high grade business strikes to hit eBay

http://cgi.ebay.com/2010-D-Jefferson-Nickel-PCGS-MS68FS-Business-Strike-/160546778168

RWB · February 17, 2011 5:44AM

The two sets I received look fine. Few handling marks on any of the coins. Philadelphia a bit better than Denver, but both far above what comes out of bank rolls.

The 2011 Mint sets suck!!

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