The US Mint is out of control!

[EZ_E]

For instance:

 

1) increased postage

 

2) 45% increase in platinum bullion

 

3) 20% increse in gold bullion

 

4) And the biggest issue...

 

A new law passed c. four months ago requires that the recipient of modern commemorative funds must match the total that the mint brings in. For instance, the Wright brothers commems, if sold out, would generate over nine million dollars for the Wright brother's foundation. Yet, if they would fail to privately raise an amount equal to or greater than the required percentage then they forfeit the entire sum which will subsequently be deposited in the treasury. Sounds a little fishy to me and is reminescent of past commemorative abuses.

[291fifth]

The matching funds requirement is long overdue. It helps weed out unworthy organizations.

 

So far as the other items go, the mint is a monopoly so they can do as they please. Sales will probably drop as a result of these moves so future values of their products may rise as a result.

[SilverEagleCoins]

It is a good way to make sure that an organization does not depend on the governments for the majority of it's funding.

 

[EZ_E]

re: The matching funds requirement is long overdue. It helps weed out unworthy organizations.

 

So, to follow this logic, only well-connected organizations are worthy to participate in the commem program? What about the little guy without political connections and juice to get matching funds?

 

You two make a good point but I still feel that it is not right. IMHO.

[nwcs]

I thought the matching requirement was always in place. I agree, though, that the mint has reversed from being antagonistic towards collectors to trying to milk them. With all the state quarters and lewis and clark, it's not surprising. Very profitable time for them.

 

Neil

[BillJones]

Some years got the Atlanta Olympics coin program did not genterate enough sales to cover the advertising costs, and John Q. Taxpayer got caught with the bill. The Atlanta coin program was poorly conceived because there were WAY, WAY too many coins (16 for a type set, 32 for a full Proof and Unc. set @ $1,600 and $3,000+).

 

The commemortive coin programs are already cash cows for the organizations that get bills through Congress for their benefit. Why not have some controls that will discourage programs that end up wasteing tax payer's money.

[SilverEagleCoins]

So, to follow this logic, only well-connected organizations are worthy to participate in the commem program? What about the little guy without political connections and juice to get matching funds?

 

You two make a good point but I still feel that it is not right. IMHO.

 

So you understand exactly!!

 

 

 

 

[LAWMAN-migration]

They are pushing their luck, hoping that the hot coin market will heat up their bottom line. I guess they haven't noticed that we've been having a recession for the last few years.