US Mint Fails Again!

[DC Dawg]

Rather than sit in my office for lunch, I went downtown Washington, DC to the Mint's Headquarters on 9th Street, NW. Parking downtown is not easy and it was not made easier the way the city had not properly plowed the area on 9th Street where the Mint HQ is located. So I double parked.

 

After shlepping downdown, being double parked, trekking across the iced road and sidewalk, I walk into the lobby of the Mint's HQ to purchase rolls from the sales kiosk. It was there I was told that rolls would not be available for another week at the kiosk!

 

I have work to do, but I want first day of issue coins (they're on the way, NGC). So I run to the kiosk at Union Station. They had NO ROLLS. They had individual coins with a limit of one per person.

 

Still not satisfied, I returned to the Mint's HQ where they have change machines in the lobby that dispenses uncirculated coins. There is a machine for the Sac Dollar, the current state quarter, and a new machine for the new dollar. Shoved as much money as I could in the machines to buy Washington Dollars. Since the kisok could not provide change of twenty dollars, I was able to buy 25 coins with the fives and singles in my pocket--14 from Denver, 11 from Philadelphia.

 

The Mint wants this to be a success and gain market acceptance, yet they do not even stock their own kiosks! If they can't even satisfy collectors, how do they think they're going to satisfy the average consumer?

 

Scott

[WaxonWaxov]

Rather than sit in my office for lunch, I went downtown Washington, DC to the Mint's Headquarters on 9th Street, NW. Parking downtown is not easy and it was not made easier the way the city had not properly plowed the area on 9th Street where the Mint HQ is located. So I double parked.

 

After shlepping downdown, being double parked, trekking across the iced road and sidewalk, I walk into the lobby of the Mint's HQ to purchase rolls from the sales kiosk. It was there I was told that rolls would not be available for another week at the kiosk!

 

I have work to do, but I want first day of issue coins (they're on the way, NGC). So I run to the kiosk at Union Station. They had NO ROLLS. They had individual coins with a limit of one per person.

 

Still not satisfied, I returned to the Mint's HQ where they have change machines in the lobby that dispenses uncirculated coins. There is a machine for the Sac Dollar, the current state quarter, and a new machine for the new dollar. Shoved as much money as I could in the machines to buy Washington Dollars. Since the kisok could not provide change of twenty dollars, I was able to buy 25 coins with the fives and singles in my pocket--14 from Denver, 11 from Philadelphia.

 

The Mint wants this to be a success and gain market acceptance, yet they do not even stock their own kiosks! If they can't even satisfy collectors, how do they think they're going to satisfy the average consumer?

 

Scott

 

Sounds like a pain in the spoon, but at least you got both mints. I was only able to get Philly at the bank here in Charlotte.. (NGC ten of them are on the way.. I just spet $40 to FedEx $10 worth of coins... )

[Zoins]

I just spet $40 to FedEx $10 worth of coins... )

Well, the grading fees will still be more than the shipping fees right?

[WaxonWaxov]

yea, no poop.

 

So basically the cost of ownership of each coin is going to be about $25

 

**bangs head on desk**

[bsshog40]

 

Sounds like a pain in the spoon, but at least you got both mints. I was only able to get Philly at the bank here in Charlotte.. (NGC ten of them are on the way.. I just spet $40 to FedEx $10 worth of coins... )

 

Sounds like I will need to get with someone about geting me a philly roll and I get someone a denver roll (from TX)and we mail to each other. I can only get denver here!! Anyone inteested, just PM me and we can work something out!!

[okbustchaser]

The Mint wants this to be a success and gain market acceptance, yet they do not even stock their own kiosks! If they can't even satisfy collectors, how do they think they're going to satisfy the average consumer?

 

Scott

 

The average consumer in this country will be easily satisfied. He DOESN"T WANT the blasted things in the first place.

[LuvToCollect]

I wouldn't be so sure about D's in Texas The rolls I bought in Louisiana were from Pennsylvania.

[Hoot]

After shlepping downdown, being double parked, trekking across the iced road and sidewalk, I walk into the lobby of the Mint's HQ to purchase rolls from the sales kiosk. It was there I was told that rolls would not be available for another week at the kiosk!

 

This is detestible. I have a friend out there who looked today for rolls at banks. Most banks gave him a blank stare not knowing what he was talking about.

 

Hoot

[Zoins]

Is it the US Mint's job to make sure business strike coins are in BU condition, or even to make sure every bank has it on the first day?

[MunkyMan95]

Is it the US Mint's job to make sure business strike coins are in BU condition, or even to make sure every bank has it on the first day?

Probably not. I'd say that once the coins leave the docks at the mint, it's up to Brinks and Loomis Fargo to get them there on time.

[DC Dawg]

This is detestible. I have a friend out there who looked today for rolls at banks. Most banks gave him a blank stare not knowing what he was talking about.

 

After leaving the Mint's HQ, I walked to three nearby banks (names will be omitted to protect the ignorant). The first bank actually knew what I was talking about and suggested that I visit the Mint's kiosk. I told him that I was just there. He laughed and said that was probably why he was seeing a lot of foot traffic asking for the rolls since they are the closest to the Mint's offices.

 

At the second bank the tellers looked at me like I had horns. They had no idea what I was talking about an had to ask the branch manager. She was nice but they did not have any.

 

At the third bank I walked into the lobby and asked the reception person if the bank had the rolls. I was excited when she said yes and left to find four rolls. She came back with four rolls of Sac dollars. She insisted that was what I was talking about and insisted I did not know what I was talking about. Now this is the Washington DC area. Anything the government does is news. There were news stories everywhere--radio, television, newspapers, whatever. From The Washington Post to the McPaper (a/k/a USA Today). I even heard local non-news radio stations talking about the coins! But she insisted I did not know what I was talking about.

 

Finally, I could not help myself. In a raised voice I said, "are you stupid or something?" I had picked up a brochure at the Mint HQ and threw it on the counter. As I was saying, "do you live under a rock?" the branch manager came up and we talked. The branch manager knew what I was talking about and apologized for the reception person.

 

The bottom line is that the Mint released the coins and the Fed distributed them to specific areas targeted for marketing (see the Mint's website under Press Releases). Only the large commercial banks in those areas were distributed new rolls. Everyone else will have to wait, including the Mint's kiosks in Washington, DC.

 

My parents live in Charlotte, one of the targeted marketing areas. I should have asked my father to pick up a roll at the bank there.

 

Scott

[markm597]

Sorry to here your troubles in DC today You should have crossed the river to Alexandria.

[richbeat]

I wouldn't be so sure about D's in Texas The rolls I bought in Louisiana were from Pennsylvania.

 

Texas is D mint country. Louisiana is in that gray area where you might see both, but probably more P than D. I say this because Texas is in the Dallas Federal Reserve district, while Louisiana is in the Atlanta Federal Reserve district.

[richbeat]

Oops! I stand corrected. Northern Louisiana is in the Dallas Federal Reserve district, while southern Louisiana is in the Atlanta Federal Reserve district.

[just-john]

bank in arizona not phoenix but smaller town had them bought 2 rolls D's.Went to circle k

spent 5 clerk looked at them but said nothing got 3 2007 D'scents and 1 2007 d dime in change.Good day

[Conder101]

You might blame the mint for the failure at the kiosks, but not the banks. If the banks remain ignorant despite the news stories, and advertisments you can't blame the mint. If the banks do know about them but either don't bother to order them, or wait until the last minute so they don't arrive in time, you can't blame the mint.

[MorganMan]

I don't know when you guys are gonna get it through your heads that these coins will FAIL.

 

NOBODY wants them, except for an out of touch government.....

 

It's that simple....

 

Plus, they are UGLY and made out of pot metal. (Ok, maybe not pot metal, but close)

 

US Mint Director >

 

MM

[robertpr-migration]

Chuck E Cheese tokens. That's what they look like.

[bsshog40]

You'd be surprised how unaware the public is on these new dollars. We are collectors and we're always looking for new coins, coin news, coin info, whatever, but most of the general public in each of our towns I'm sure are not collectors and do not pay attention to media about coins. There are alot of people in my town that I work with or are friends and I ask if they've seen the new dollars. My responses?? "The What"!!!! I wouldn't even think that the mint would solicit banks to stock up on the new coins. The banks are private businesses and it would be thier responsibility to stock thier business with products that the customer wants. MONEY, MONEY, MONEY!!!

[Zoins]

There are alot of people in my town that I work with or are friends and I ask if they've seen the new dollars. My responses?? "The What"!!!!

Have you tried asking them if they've seen the old small dollars? I wonder how many of them would say "The What"???

 

There's only so much the US Mint can do given the $1 FRN is still in circulation. Collectors are probably already aware of these coins through the US Mint website, Coin Vault, eBay, coin magazines, etc. Many state quarter collectors learned about the quarters because they are widely circulated, these won't be. End of story.

 

Some banks don't stock Sacs because many customers refuse them as change. Depending on the particular bank, it might be different for Presidential dollars, or it might not.

[just carl]

Odd thing is no one I know wants those things. Just went to a coin show Sunday. Asked almost every dealer if they had any or wanted any of those new baby dollar coins. Unanimously all said NO. Contacted a few people I know in coin clubs just for the fun of it and asked the same question. Answer "YUK" This morning I went for breakfast with a bunch of friends and asked what eeryone thought of the new dollar coins. One elderly guy flew off the handle right away and said us older folks spent way to many years happy to stop using as many coins as possible and just using paper and now plastic. Then the government wants us to return to the olden days of carrying tons of coins.

There was a news special on Sunday Morning on TV just before I went to coin show. The announcer was saying what a success these little dollar coins are. Everyone is so happy to be able to save and use them. They showed a person using one in a parking meter in New York. They showed someone passing them out to a group of kids. They mentioned how many people will be able to use them at laundromats, car washes, vending machines everywhere. They showed at the Mint massive piles of them being dumped into some kind of hopper waiting for distribution. The announcer mentioned the Mint said there are now 160 million coin collectors in the USA and mostly due to the State Quarters. This will double now that there are these fantastic, very popular dollar coins and people will be wanting to stop the single bill currency now that these are here.

Must be my imagination that no one I know wants them, needs them, likes them. I just can't wait until some kids in chem classes start Copper coating Washington quarters to look like the new dollar coin.

[astrostu]

I've been doing my part and showing the coins off in classes today.

 

What I want to know is where's that multi-million-dollar contract money going to the PR firm the Mint hired to advertise for this coin?

[DC Dawg]

Odd thing is no one I know wants those things. Just went to a coin show Sunday. Asked almost every dealer if they had any or wanted any of those new baby dollar coins. Unanimously all said NO.

 

Good! This is why I ran around looking for the coins. I will get the slabs with the "FIRST DAY OF ISSUE" designation and will supply a demand. The demand may not be there today or tomorrow, but it will eventually be there. It always is--see the market for the 2 and 3 cents coins and the Columbian Expo Commem. Let's see what happens in a few years when people wake up to this series and say "I want." It will create a demand. I will have a supply.

 

Time to rent another safe deposit box!

 

Scott

[Zoins]

I will get the slabs with the "FIRST DAY OF ISSUE" designation and will supply a demand. The demand may not be there today or tomorrow, but it will eventually be there. It always is

You mean like the demand for First Day Covers targeted to stamp collectors?

[xJack]

Or First Day Issue 1976 $2 Bills with a Postmark and Stamp?

[DC Dawg]

You mean like the demand for First Day Covers targeted to stamp collectors?

That's an interesting statement because I do not think the Mint has properly marketed these. Philatelic Numismatic Covers (PNC), as they are called, are very popular in Europe and have a very good following in the United State. At $19.95 (now $19.95) they care cheaper than the Fleetwood PNCs ($29.95-49.95) but Fleetwood sells more.

 

The Mint PNCs do well overseas. As soon as I started shipping the PNCs to Europe, I have been selling a steady stream of them to mainly UK customers. Two UK-based buyers paid the equivalent of $25 each for the 2004 and 2005 covers that I just bought at the Mint's kiosk for $17.95 each!

 

The Mint and the USPS market the "Greetings from America" series together. But that does not satisfy either market and is not very well done. If the Mint partnered with the USPS for the PNCs, they may do better.

 

Or First Day Issue 1976 $2 Bills with a Postmark and Stamp?

I've seen those... but I don't think that was done by BEP/Treasury. I think other groups, like the Postal Commemorative Society, did that.

 

Scott

[WaxonWaxov]

Odd thing is no one I know wants those things. Just went to a coin show Sunday. Asked almost every dealer if they had any or wanted any of those new baby dollar coins. Unanimously all said NO.

 

Good! This is why I ran around looking for the coins. I will get the slabs with the "FIRST DAY OF ISSUE" designation and will supply a demand. The demand may not be there today or tomorrow, but it will eventually be there. It always is--see the market for the 2 and 3 cents coins and the Columbian Expo Commem. Let's see what happens in a few years when people wake up to this series and say "I want." It will create a demand. I will have a supply.

 

Time to rent another safe deposit box!

 

Scott

 

I'm there with you Scott. I only wish I had the money to send in more than I did.

[Zoins]

Or First Day Issue 1976 $2 Bills with a Postmark and Stamp?

I've seen those... but I don't think that was done by BEP/Treasury. I think other groups, like the Postal Commemorative Society, did that.

You make an interesting case how those were not done by the BEP/Treasury. In the same way, these "FIRST DAY OF ISSUE" slabs are not done by the USMint/Treasury....

[WaxonWaxov]

It's capitolism.

 

If someone would rather have a "First Day of Issue" coin than the $30 in their pocket, I will supply them with the coin, because I would rather have the $30.

[Zoins]

It's capitolism.

 

If someone would rather have a "First Day of Issue" coin than the $30 in their pocket, I will supply them with the coin, because I would rather have the $30.

I agree. There's also nothing wrong if people won't pay more than $20 for a "First Day of Issue" that cost you $25. That's capitalism.