Congratulations We BROKE the mint! 2 2

[J P M]

So in reality the coins are only on paper. Not in coin bags ready to be shipped out. Well then it sounds like a possibility for the bad guy to make a lot of money. They always do 

Edited May 25, 2021 by J P Mashoke

[James Zyskowski]

Sure somebody’s grandpa would have “wisdom “ about if it’s worth having it’s value is that much more the harder it is to get but I don’t think grandpa ever envisioned this 🤓

[J P M]

1 hour ago, James Zyskowski said:

Sure somebody’s grandpa would have “wisdom “ about if it’s worth having it’s value is that much more the harder it is to get but I don’t think grandpa ever envisioned this 🤓

I am a grandpa 10 times and 4 great grandkids and I did not plan on spending more than $99.99 a coin there is my wisdom. 

[VKurtB]

I’m confirmed for one CC, but I am selling it AT COST to a numismatic buddy AFTER I take some photomicrographs of the CC privy mark. 
 

The ones I really prefer are the “real” mint marked ones, D and S. 

Edited May 25, 2021 by VKurtB

[Rummy13]

The mint computer system stinks. The way the mint sells some of its' coins is a joke.  I am enrolled to buy proof sets and ASE, but when ever they have a special release it is not included. Not every one can be off at noon, and if by chance you are the dang computer is gong to crash, it has happened time and time again but the do nothing about it. I feel that a person in the enrollment of a coin series should be give a chance to buy the cone offered. Maybe at a mark up, but when they sell it at $90 and have a limit of what ever and you can't get in that's not right. How is it that the big coin guys have lots they can sell for 100s in profit and the little guy can;t even get one?

[BMetoyer]

Well I’m somewhat new to collecting but with some persistent I bagged 2 of each CC and O. Just lucky I guess, but had to retry my checkout for like 15 mins before it would confirm purchase. Have no plans to sell them just can’t believe I have to wait months for coins they have been planning for over a year to release. 

[VKurtB]

2 minutes ago, BMetoyer said:

Well I’m somewhat new to collecting but with some persistent I bagged 2 of each CC and O. Just lucky I guess, but had to retry my checkout for like 15 mins before it would confirm purchase. Have no plans to sell them just can’t believe I have to wait months for coins they have been planning for over a year to release. 

You have a full grasp of the situation.

[Conder101]

13 hours ago, Rummy13 said:

and if by chance you are the dang computer is gong to crash, it has happened time and time again but the do nothing about it.

And I would not expect them to.  Remember the more orders per hour your system can handle the more it costs.  Now normally they need to handle maybe a few thousand orders a day, but three or four times a year they get a coin that brings in many thousands of orders per HOUR.  So do you buy a system that can handle that huge rush at a very high price whose capacity will be sitting unused 99.9% of the time or do you get a cheaper system that can handle up to several times your normal volume?

To put it in human terms, lets say you have a typical family you, spouse, two kids.  To get around comfortably a sedan will do, but you want to be able to handle a little overflow so you have a minivan.  Now most likely you or the kids are going to need to move a couple of times.  So instead of the minivan do you buy and drive a 24 foot step van as you daily vehicle so you will have it available for those few times you are going to need it?  That is what people are saying the Mint should do.

 

On 5/24/2021 at 3:36 PM, Alex in PA. said:

Well EdG_Ohio you didn't miss much.  This was probably the worst US Mint sale on record.  In 3 to 5 minutes the site was crashing and at the 25 minute window 'This Item Is Unavailable" appeared on the Privy coins.

How can that be the worst when there have been a lot of cases of limited mintage coins selling out completely in less than 5 minutes?  This one lasted a relatively long time, though less than I actually expected.  I do not consider 175,000 to be a really low number.

 

On 5/24/2021 at 3:38 PM, Alex in PA. said:

175,000 and how many went to the common person after the Dealer Pre-Sale by the thousands.

That is what I am wondering.  Were these made available to the distributor dealers under therir new bulk sale program?  If so how many were actually available Monday at noon?

 

On 5/24/2021 at 9:23 PM, 124Spider said:

As a taxpayer, I'm a bit annoyed at the incompetence displayed by the US Mint with this sale.

So you're a taxpayer, what does the Mint care about that?  They aren't supported with tax money, they're self funded.

 

On 5/24/2021 at 10:27 PM, Lem E said:

I don’t understand why they don’t do enrollment on these. Seems like they keep the high demand coins out of the enrollment option for whatever reason.

Because when they have the high demand coins in enrollment they end up having more enrollment orders than authorized coins and they are "sold out" long before they ever go on sale.  That happened back at the beginning of the First Spouse coins.  Mintage was limited to 20,000.  They had them on the enrollment program and more than month before they went on sale they already had more than 40,000 enrollment orders.  So they cancelled the enrollments and they had a free for all on opening day.

 

21 hours ago, Alex in PA. said:

And what happens if the US Mint fails to deliver?  By October can you still file a claim with EBay?

You know that is an interesting question.  Since these can't possibly be delivered within 30 days of the date of the ebay sale, are these even eligible for ebay pre-sales?

 

Something I am wondering about.  They are calling these "Pre-Sales".  that could imply that somewhere down the road they are going to have actual sales, possibly at a higher price.  they used to do that with the Commemoratives have pre-sales at a lower price and then after a certain date have regular sales at a higher price.

[Alex in PA.]

38 minutes ago, Conder101 said:

175,000 to be a really low number.

At 10 per "Household", what ever that means, is 17,500 "Households".  Wow, I'm flabergasted.  None of us mere mortals, Unwashed and Unworthy of honest service by the Mint, know how many of that massive 175,000 coins were doled out to the 'Chosen Dealers'  Prior to this fabulous wonderment.  As I do not belong to the US Mint and have not purchased anything this does not hurt me but, according to the comments ATS, there were a lot of disappointed people.  Disappointed by a 'Privy Mark' coin no less.  To prove to me this was a wasted effort, and another trick by the mint, I bought a 'real' 1921 Morgan Dollar in PCGS MS 64 for $89.00 plus free shipping.  I am glad the witchery magic of the US Mint worked out and they sold ALL their 175,00 Privy Coins and created a 'new' rarity for coin collectors.  I cannot wait until the EBay price reaches $2,000.00 per coin so I can be sure of getting the 'real thing'.  Every time  I feel close to tears at my loss I take out my San Francisco Old Mint Dollar and fondle it remembering I paid $39.00 at the Mint for it and can buy one on EBay for $32.00.  Perhaps we will have an 'Annual' minting of these 'unique' specimens.  a 2022 Peace Dollar then a 2023, etc. etc.    

[Conder101]

26 minutes ago, Alex in PA. said:

None of us mere mortals, Unwashed and Unworthy of honest service by the Mint, know how many of that massive 175,000 coins were doled out to the 'Chosen Dealers'  Prior to this fabulous wonderment.

That is true, we don't.  I don't even know if this was available to them. (not all offerings are)  But if they were then the number available Monday was a lot lower than 175,000.

[James Zyskowski]

Heard they got the 10 percent off the top. 

[gmarguli]

On 5/24/2021 at 12:34 PM, Morpheus1967 said:

The thing is, everyone saw that 175,000 and assumed that is the mintage total, and it's not.  That's just the number for the individual coins.  Guarantee they come out with a 5 coin set, minted to demand.  

Nope. Supposedly the Mint ordered enough blanks for 175K of each Morgan and 200K of the Peace. Also, the Mint advertising stated mintage limit of 175K on these Morgans.  This is all we're getting this year.

 

On 5/24/2021 at 12:38 PM, Alex in PA. said:

175,000 and how many went to the common person after the Dealer Pre-Sale by the thousands.  Out of the 60+ ATS if 40 got a coin it was luck.

10% of the mintage is provided to dealers. Now figure 17,500 coins divided up by hundreds of dealers and none likely received a giant allocation of them. 

 

On 5/24/2021 at 12:37 PM, Lem E said:

I don’t even mess with it anymore after trying for the V75 Eagle last year. If I can’t get it through enrollment, I don’t even try. Funny how nobody can get through on the website yet they all sell out in minutes. 

Just not true. Lots of individual collectors have posted as getting them. FYI, I got a V75 GOLD. Then I went back and got a V75 silver. Then I got the next gold coin that sold out (I don't even remember what it was it was that meaningful). And yesterday I got the CC version. Just me sitting at a desktop computer, hitting refresh every now and again. It's pure luck. No bots, no conspiracies, just luck. 

[Lem E]

13 minutes ago, gmarguli said:

 

 

Just not true. Lots of individual collectors have posted as getting them. FYI, I got a V75 GOLD. Then I went back and got a V75 silver. Then I got the next gold coin that sold out (I don't even remember what it was it was that meaningful). And yesterday I got the CC version. Just me sitting at a desktop computer, hitting refresh every now and again. It's pure luck. No bots, no conspiracies, just luck. 

I was not as lucky. I just remember boats and bicycles and getting banned several times. I tried for an hour with no luck at all. By the time I got in, everything was gone. I wasn’t too tore up over it. I still got my silver V75 eventually. Congrats on getting the gold one though. 

[Alex in PA.]

1 hour ago, gmarguli said:

10% of the mintage is provided to dealers. Now figure 17,500 coins divided up by hundreds of dealers and none likely received a giant allocation of them. 

Okay g, if you say so I believe it.  I guess, on second thought, we should not expect too much from the Mint.  What puzzles me is some of the EBay 'Flippers' aren't listing an amount on hand.  You know, where it says 2 sold 8 left.  

[gmarguli]

18 minutes ago, Alex in PA. said:

Okay g, if you say so I believe it.  I guess, on second thought, we should not expect too much from the Mint.  What puzzles me is some of the EBay 'Flippers' aren't listing an amount on hand.  You know, where it says 2 sold 8 left.  

It's on the Mint's website: In addition, the Morgan and Peace Dollars will be included in the Mint’s recently launched Authorized Bulk Purchase Program. This new program is structured to better meet marketplace product availability on the initial on sale date by expanding the distribution of Mint products. No more than 10% of products with limited quantities will be distributed under this program.

And that's a setting on eBay. As a seller you can set it to list the actual quantity (12 of 50 left) or no mention of how many left (12 sold). However, you can easily find out how many they have. in the order box, just type in a number. Put 50 and if they have 50, it's OK. If they have less, it should say enter a smaller quantity. 

[Morpheus1967]

13 hours ago, gmarguli said:

Nope. Supposedly the Mint ordered enough blanks for 175K of each Morgan and 200K of the Peace. Also, the Mint advertising stated mintage limit of 175K on these Morgans.  This is all we're getting this year.

 

Then why aren't they posting the mintage on their website?  It only says product limit.  

 

[gmarguli]

5 hours ago, Morpheus1967 said:

Then why aren't they posting the mintage on their website?  It only says product limit.  

No idea, but here is a Coin World article where it is discussed. 

[Alex in PA.]

[Jason Abshier]

On 5/24/2021 at 7:52 PM, Mr.Bill347 said:

Not only am I totally PO’d about this latest UsMint scandal, but the greed I am seeing from “Dealers” selling confirmed pre-order purchases on FeeBay for what looks like $249, according to items sold today! There are hundreds and hundreds of these already listed on FeeBay. The picture are ones sold today already. The greed is like hoarding toilet paper and then selling it to the highest bidder. I am so irritated and discouraged, it want me to dislike numismatics! I won’t buy anything from the USMint again. I can get ripped off at a lesser level almost anywhere.

truly disappointed, but I did expect the explosive nature of this stupid release and the artificial shortage that the mint created for their own greed. If they could make millions of these, why don’t they. Obviously they could sell them.

 

 

That’s what drives the prices up on modern market it is what it is . There are dealers even with “pre sale” MS70 and PF70 guarantee! Prices for some issues are already sky high it cuts out the average Joe never even had a chance to buy the coin raw and send it in himself for grading (of course the average Joe would get a MS69 or PF69) VS a big time dealer that’s keeping the grading companies busy slabbing coins . Someone always bites the bullets on 70 grades building registries each time a hot coin set coming out of the mint with a low mintage you’re always gonna be up to challenge against the big shot dealers  

[Alex in PA.]

The Peace dollar mintage will be limited to 200,000 coins, with a household order limit of 10 coins in place during the first 24 hours.

The 2021 Morgan and Peace dollars, struck to recognize the 100th anniversary of the transition from the Morgan to Peace dollar series, will be offered at $85 per coin. 

 

First 24 minutes will be more like it.  So, for those of you who cannot afford the 'real' thing; good luck getting your Privy Coins.   

[James Zyskowski]

Interesting some one mentioned the V75 ase and how difficult it was to order. I think I got lucky about 45 minutes in got one. Gee sure was surprised that of course I got the milky what the heck happened to this coin fresh from the crapper at the mint. I really hate that coin   Ok I’m done complaining but it can always get worse 

[VKurtB]

5 minutes ago, James Zyskowski said:

Interesting some one mentioned the V75 ase and how difficult it was to order. I think I got lucky about 45 minutes in got one. Gee sure was surprised that of course I got the milky what the heck happened to this coin fresh from the crapper at the mint. I really hate that coin   Ok I’m done complaining but it can always get worse 

Sure can, and it likely will. 

[Mr.Bill347]

I shouldn’t complain over what everyone fully expected. Besides, I did get lucky on the 2021 W ASE Proof (now an NGC PF70).

count your blessings!

[James Zyskowski]

1. t

[James Zyskowski]

thats on the coin and that’s not al🥲

Edited May 28, 2021 by James Zyskowski
Add information

[gmarguli]

2 hours ago, Jason Abshier said:

That’s what drives the prices up on modern market it is what it is . There are dealers even with “pre sale” MS70 and PF70 guarantee! Prices for some issues are already sky high it cuts out the average Joe never even had a chance to buy the coin raw and send it in himself for grading (of course the average Joe would get a MS69 or PF69) VS a big time dealer that’s keeping the grading companies busy slabbing coins . Someone always bites the bullets on 70 grades building registries each time a hot coin set coming out of the mint with a low mintage you’re always gonna be up to challenge against the big shot dealers  

1) The "average joe" had every chance to buy this coin. Do you think the dealers had some special way to grab all the coins? 

2) Pre-sale of MS70 is not unusual. Look at the grade distribution of recent issues. Somewhere between 40%-60% will grade 70. Anyone with a small quantity of them could safely pre-sell 70s.

3) If you think that dealers get the 70s when others get 69s, I suspect you haven't submitted many moderns. Order 100 Christa McAuliffe or Law Enforcement commems and submit them bulk to either NGC or PCGS and I bet at least 40 of them come back 70. 

[Mr.Bill347]

James, that would certainly tick me off too! I wonder if it would do any good at all to speak with someone about this. Maybe they could at least refund the cost plus shipping, so you could buy a great coin somewhere else.

 

[Hoghead515]

I decided I'm gonna start boycotting the mint and definitely the dealers and flippers charging a ridiculous premium for coins they paid a small amount for. I'm gonna focus on the older stuff if it's something I can't get in circulation. 

[Mr.Bill347]

Well Hoghead you can avoid the fray. I just bought a 2021 Type 2 NGC graded MS70 for 65.00 on Modern Coin mart.

that way at I am not going to get screwed by the Hoarders on EBay and elsewhere. I will wait till October by dealing with a dealer at an actual price.

https://www.moderncoinmart.com/2021-american-1-oz-silver-eagle-t-2-pcgs-ms70-fs-flag-label-sku64462.html

 

[Hoghead515]

21 minutes ago, Mr.Bill347 said:

Well Hoghead you can avoid the fray. I just bought a 2021 Type 2 NGC graded MS70 for 65.00 on Modern Coin mart.

that way at I am not going to get screwed by the Hoarders on EBay and elsewhere. I will wait till October by dealing with a dealer at an actual price.

https://www.moderncoinmart.com/2021-american-1-oz-silver-eagle-t-2-pcgs-ms70-fs-flag-label-sku64462.html

 

Thanks for the link. I'll check em out.