It’s not every day that you get a Personal Letter from the Director of the US Mint, Verdis C. Gibson 2 2

[Mr.Bill347]

Received in the mail today.

Edited August 17, 2022 by Mr.Bill347

[RWB]

Mr. Bill -- Did not know your real name was "Valued Customer." nice to see the personal touch returning.

[The Neophyte Numismatist]

"We appreciate you continued patience as we work to increase numismatic production... This year we significantly increased production of... American Eagle One Ounce Silver Dollar."  I mean that's all rare collectors want.  We want more production to cause coins to become more common, right? 

I would rather the US Mint work on QUALITY.  I never questioned the volume, its the quality.

Also, very saddened to hear that the Morgan/Peace program will continue.  This will eliminate any chance of those coins becoming "special", and completely undermines any commemorative sprint under which those coins were released.

I sum up the letter like this:

Sorry you hated the quality of your coin, but don't worry... we are ramping up production to crush you in volume.  Getting the quality right is hard, so we are not really going to talk about that, however, we can't wait to push more junk.  Hope you still buy it.

 

Edited August 17, 2022 by The Neophyte Numismatist

[Mr.Bill347]

I just UN-enrolled from the Morgan/Peace dollars and the Silver Eagle. I'm not happy with their direction at all.

On 8/17/2022 at 2:33 PM, The Neophyte Numismatist said:

"We appreciate you continued patience as we work to increase numismatic production... This year we significantly increased production of... American Eagle One Ounce Silver Dollar."  I mean that's all rare collectors want.  We want more production to cause coins to become more common, right? 

I would rather the US Mint work on QUALITY.  I never questioned the volume, its the quality.

Also, very saddened to hear that the Morgan/Peace program will continue.  This will eliminate any chance of those coins becoming "special", and completely undermines any commemorative sprint under which those coins were released.

I sum up the letter like this:

Sorry you hated the quality of your coin, but don't worry... we are ramping up production to crush you in volume.  Getting the quality right is hard, so we are not really going to talk about that, however, we can't wait to push more junk.  Hope you still buy it.

 

 

[EagleRJO]

I got some similar mumbo jumbo in a canned email reply after I vociferously complained about the US Mint entirely canceling the very popular Morgan Silver Dollar production for 2022, while they increased production for ASEs and some other silver medals that collectors usually don't care about as much but make them more money.  Yea, I guess that bonehead decision probably made by a janitor they put in charge didn't go over too well from the looks of the lengthy form letter and form emails they are mass mailing and then scrambling to do appearance damage control.

And all the "problems" really were only due to limited silver supply and "staffing shortages" (requiring the janitor to take over silver planchet ordering and production schedules) and "the global pandemic and supply chain issues", even though they increased higher margin coins and medals.  Yea right, and I have a bridge to sell you.  Don't get between me and my Morgans. 

Add to that the bonehead decision by the former janitor now as.s mint director (from staffing shortages) to eliminate those really nice and presentable velour spring loaded capsule display boxes starting this year (because the janitor, errrrr as.s mint director forgot to order them, and the US Mint doesn't have any money) and replace them with super cheap and cheesy imitation felt crazy glued to crinkle plastic stuffed in a not-display box thinner than cheap cardboard from the dollar store.

What are they going to do next year, listen to the janitor again when he suggests ditching the capsules and cheesy glued felt dollar store boxes and just wrap the coins in paper towels, scotch tape it and stick a stamp on it.  Burns my butt.  The US mint used to have world class professionals top to bottom who were highly respected throughout the world, and with a quality hard to beat by anyone.  So much for that.

Edited August 25, 2022 by EagleRJO

[EagleRJO]

On 8/17/2022 at 2:59 PM, Mr.Bill347 said:

I just UN-enrolled from the Morgan/Peace dollars and the Silver Eagle. I'm not happy with their direction at all.

I am doing the same and will just get them from dealers who bulk order them after a little time goes by so they are prolly cheaper than direct from the mint in the end.  Just make sure you send them an email explaining exactly why you canceled.

[Redline68]

Apparently they are doing a significant number of significant things.

[RWB]

I'm anxious for the "Satanic Verses" commemorative half dollar.....

[Mr.Bill347]

Well Mr. Gibson feast your eyes on this, GRADED. $49

[Lem E]

On 8/17/2022 at 4:00 PM, Mr.Bill347 said:

Well Mr. Gibson feast your eyes on this, GRADED. $49

I believe Mr. Gibson is a woman.

[EagleRJO]

Careful, that looks like a bullion coin and not a proof coin, [just in case you wanted a proof].

Edited August 17, 2022 by EagleRJO

[Mr.Bill347]

On 8/17/2022 at 5:15 PM, EagleRJO said:

Careful, that looks like a bullion coin and not a proof coin, [just in case you wanted a proof].

Oops. Yea it’s bullion, but selling graded first releases for $49?? Somebody is trying to unload!

[EagleRJO]

I think bullion spot is down around $20/oz and the bullion coins ~$30 retail, less bulk wholesale.  So that's a nice mark up for bulk dealer submissions who have special rates with the TPGs.

P.S. If you want the Proof keep an eye on price, cause there's prolly an initial demand rush and they may be left with a bunch left over after the initial silver rush. 

Edited August 17, 2022 by EagleRJO

[EagleRJO]

On 8/17/2022 at 5:10 PM, Lem E said:

I believe Mr. Gibson is a woman.

Correct ... here you go Bill: 

United States Mint Director Ventris C. Gibson to Participate in the American Numismatic Association's (ANA) 2022 Chicago World's Fair of Money® | United States Mint (usmint.gov)  [www.usmint.gov/news/press-releases/united-states-mint-director-ventris-c-gibson-to-participate-in-the-american-numismatic-associations-ana-2022-chicago-worlds-fair-of-money]

[KarenHolcomb]

Gee willikers. Y'all are on it with this one. Don't have too much fun. 

[JKK]

Verdis Gibson. As I recall he was the one that invented verdigris; that's why they call it that.

[Hoghead515]

I got one of those letters as well. I figured it was a reply back for the survey i took. 

[Cpy79]

On 8/17/2022 at 2:33 PM, The Neophyte Numismatist said:

"We appreciate you continued patience as we work to increase numismatic production... This year we significantly increased production of... American Eagle One Ounce Silver Dollar."  I mean that's all rare collectors want.  We want more production to cause coins to become more common, right? 

I would rather the US Mint work on QUALITY.  I never questioned the volume, its the quality.

Also, very saddened to hear that the Morgan/Peace program will continue.  This will eliminate any chance of those coins becoming "special", and completely undermines any commemorative sprint under which those coins were released.

I sum up the letter like this:

Sorry you hated the quality of your coin, but don't worry... we are ramping up production to crush you in volume.  Getting the quality right is hard, so we are not really going to talk about that, however, we can't wait to push more junk.  Hope you still buy it.

 

You said it right.  “Quality” is what is missing. Still pissed about the poorly made Morgan dollars I got last year. 

[EagleRJO]

On 8/23/2022 at 8:31 PM, Hoghead515 said:

I got one of those letters as well. I figured it was a reply back for the survey i took. 

They have been mass mailing those letters to collectors because they have been getting hammered with complaints about poor quality and canceling the Morgan dollars for the entire year in favor of increasing higher margin coins and tokens.  I have noticed the drop in quality and also not happy with the janitor's decision to cancel the Morgans.

[Sandon]

   I received this letter as well.  I've been a mint customer since 1975, when the products offered consisted of clad proof and mint sets and the Bicentennial three-piece silver clad proof and uncirculated sets, which I recall began to be offered some time that year.  Although the quality of most mint products has greatly improved since that time, the mint is now overwhelming collectors with too many different issues in too many different finish, mint, and packaging options. (Some of this problem is the fault of Congress for requiring the mint to produce commemorative issues in which the general public has little interest and a number of annual designs for quarters and dollars, the latter of which hardly circulate.)  

   The worst problem, however, is the recent major price increases that are unwarranted by current precious metals prices.  The worst offenders in this regard are the silver proof sets, whose price was suddenly increased from $63.25 to $105 a few months after the 2020 set became available.  I had purchased these sets since 1992 but have not and will not purchase the 2021 or 2022 sets at this absurd price.  Clad commemorative half dollars, which have long been overpriced, now cost about half of what the commemorative silver dollars cost, even though they contain no silver, and their intrinsic value is below face value!  From now on my purchases will be largely limited to the clad proof and mint sets, with an occasional commemorative issue in uncirculated finish, as both their cost and mintages are lower.

[EagleRJO]

See the a

On 8/23/2022 at 10:20 PM, EagleRJO said:

They have been mass mailing those letters to collectors because they have been getting hammered with complaints about poor quality ...

Just as one example of the US Mint slipping, attached is a pic showing the OGP for two different 2021 Proof ASEs from the US Mint.  The one on the left is the 2021-W Proof ASE Type-1 from earlier that year, with the really nice hefty velour snap-close displace case that the capsules have come in forever.  On the right is the 2021-W Proof ASE Type-2 from later that year with the super cheap and cheesy imitation felt crazy glued to a thin crinkle plastic capsule holder stuffed in a misaligned thin cardboard half-box that looks more like a cheap dollar store display box instead of something that came from the US Mint.  The two Proof ASEs this year also came in the cheap dollar store display boxes.

[Hoghead515]

I really like the innovation dollars. Thats one of the only issues I plan on getting every release from the mint. 

[The Neophyte Numismatist]

@Hoghead515 I like them, too.  And, your home state is now my favorite one.  I  Banjo!

[EagleRJO]

On 8/24/2022 at 12:25 PM, Hoghead515 said:

I really like the innovation dollars. Thats one of the only issues I plan on getting every release from the mint. 

@Hoghead515 I just took a look at the Innovation $1 coins on the mint's website as I haven't really noticed these lately, and don't get many dollar coins with change or in rolls anymore.  Many of those are actually really nice.  Do you get the individual proof releases or proof sets?

Edited August 24, 2022 by EagleRJO

[Mr.Bill347]

I buy individual uncirculated new coins. Have every one of them to date.they are usually 2-3 on EBay.

[JT2]

just got my letter today   hummmmmm ... nah still not going to enroll   hehhehehe

[Hoghead515]

On 8/24/2022 at 2:32 PM, EagleRJO said:

@Hoghead515 I just took a look at the Innovation $1 coins on the mint's website as I haven't really noticed these lately, and don't get many dollar coins with change or in rolls anymore.  Many of those are actually really nice.  Do you get the individual proof releases or proof sets?

I get the proof and reverse proof both. I havent got any of the uncirculated ones yet. I may in the future. 

[Hoghead515]

On 8/24/2022 at 1:32 PM, The Neophyte Numismatist said:

@Hoghead515 I like them, too.  And, your home state is now my favorite one.  I  Banjo!

I really like it to. Its a cool design. I enjoy bluegrass music.  I was jamming out to a little Ralph Stanley on my way home from work today. 

[Mr.Bill347]

I have all the proof sets since 1954, so have the proofs too.

[EagleRJO]

On 8/24/2022 at 6:50 PM, Hoghead515 said:

I havent got any of the uncirculated ones yet. I may in the future. 

If they are "burnished" (which the US Mint usually [labels as] "uncirculated coins") it's not really my style. But the proof sets look nice, which I might enroll in instead of the ASEs until the mint fixes the issues with the capsules and presentation boxes for those.

Raw coins are hands down my preference to holder or put in flips myself, and I noticed dealers have the older Innovation dollar coins in raw BU grade for only like $2 to $3 which I can start adding to orders and throw them in the mylar flips for easy storage, to go with other circulated $1 coins I plan to start getting in rolls.  Boy, just what I need, another coin to start collecting.  But at least they are not that expensive. 

Edited August 25, 2022 by EagleRJO