Any US Mint coin collectors? I’m trying to organise a buying collective for

Started by seedyrom, May 11, 2021, 08:35:52 PM

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seedyrom

The US Mint does absolutely terrible launches of new but limited coins.

Their website gets over loaded and crashes;
They have a preferred dealer network they sell coins in bulk to prior to launch;
Households have purchasing limits, but dealers do not;
And basically, it's really hard to get a coin. 

Sometimes you'll have it in the cart, and you are trying to check out, but by the time you confirm purchase, the items get sold out. 

Anyway... I was wondering whether anyone else here will be up at 2am trying to purchase the Morgan Dollar 2021 re-release?

If you are, I was thinking we establish a buyers group, so if one person is successful, we can onset to members without excessive secondary market (scalper) pricing.
There\'s no such thing as too much Borobi!

triplewitch

Quote from: 'seedyrom' pid='124755' dateline='1620731152'The US Mint does absolutely terrible launches of new but limited coins.

Their website gets over loaded and crashes;
They have a preferred dealer network they sell coins in bulk to prior to launch;
Households have purchasing limits, but dealers do not;
And basically, it's really hard to get a coin. 

Sometimes you'll have it in the cart, and you are trying to check out, but by the time you confirm purchase, the items get sold out. 

Anyway... I was wondering whether anyone else here will be up at 2am trying to purchase the Morgan Dollar 2021 re-release?

If you are, I was thinking we establish a buyers group, so if one person is successful, we can onset to members without excessive secondary market (scalper) pricing.
I'm in the US and rarely get on here anymore, so I missed this message originally. It's too late for the 2021 coins, but the US Mint is accepting enrollments now for the 2023 and beyond Morgan and Peach dollars, both uncirculated and proof, as well as a reverse proof set, which will save you the trouble of having to fight for coins on the issue date.
-John

gweidion

Thanks for the info. I missed the original post too. I ended up buying my CC and S Morgans graded at MS70 and paid scalper prices. Morgans are the only US coins I collect.

Tanecoins

I bought the 2023 and 2024 Morgans/Peace dollars off a local trader here, they are nice coins. Not cheap when its 4 coins for a basic set as you have standard Peace and Morgan minted at Philly and then the Proofs minted at San Fran for both coins (Those of us who collect, will know that no Morgan or Peace dollar was ever issued as a proof, except for a handful of experiments and trials done at the mints, which are now worth kabillions). I also got the reverse proof for 2023, but not 24, as lets face it, that thing is a monstrosity.

Dying to buy some of those "Peach" dollars, wonder if they are juicy or showcasing the state of Georgia?

Interested in getting all the Women quarters, but with Trump's tariffs and the Post Office, that seems impossible now beyond Feebay toad prices.
Collecting beautiful silver coins and loving Numismatics!

ken-a

Back in 2021, a collector friend in the USA was able to get me the 2021 releases of the Morgan dollars including the CC and O privy mark ones and the Peace dollar for 2021 and they struggled with the US mint ordering system.

I dread to think of what is going to happen in 2026 for the semiquincentennial coin releases for the USA being 250 years old.  Sadly I can't use my previous source since they passed away in early 2023.

Only item that I get direct from the US Mint is the uncirculated coin set.

Innovation dollars are a bit of pain to get since they are not in the US Mint set nor are the sold as uncirculated coins in the P/D set of all them - only proof.

gweidion

Isn't that silly. It is like they don't want you to buy them.
I got my Morgans directly through ordering from the mint. Had to set up an ongoing order but it was free postage and no issue cancelling the ongoing order after that.
I wonder how much they will want for the 2026 Morgan. I remember the first one was $74 US.

ken-a

Here is an article about issues ordering coins from the US Mint back in June.

https://www.coinworld.com/news/us-coins/mint-reviews-recent-customer-ordering-troubles

One interesting item is the following - Of the 100,000 coins minted, 10% (10,000 coins) were reserved for sale to the Mint's 17 Authorized Bulk Purchase Program dealers (whose identities are not publicly disclosed by the U.S. Mint). Individual ABPP dealers are allowed to place advance orders for some portion of the reserved coins.

Tanecoins

Bulk buyers, bots - this is the norm with all e commerce now. Its like when you are trying to buy concert tickets or show tickets for a major performance. You have to sign up to some site/reseller, pay all sorts of fees and log on your credit cards and then the site is hacked by bots, scalpers and 3rd parties like Credit card companies, friends of a promoter or venue get priority and some stupid scalper buys the rest and if you are lucky you may get some overpriced tickets and then lose them as your computer or their's crash.

I look forward to the day, when we stop depending on computers and the internet for everything.
Collecting beautiful silver coins and loving Numismatics!

gweidion


Tanecoins

I have been watching some Youtube videos by American coin dealers like Coin HelpU and silver seeker, Silver Dragons, Minot coin and bullion etc. All are saying the US mint has gone nuts since last year massively increasing prices of products like the 2024 UNC coin set cost like $35 or something and the 2025 set was $125 and they are now selling the restruck Morgans at like $300+ each and the 2026 coins (1 penny, a nickel, dime and 5 quarters along with a special half dollar) are being sold at nutty prices - I blame Trump's Maga pride and greed.

CoinHelp U mentioned a $750 cost for a half ounce silver coin in the shape of Liberty Bell! I mean that is just insanity and highway robbery.

And that is before we get to Trump's massive gold coins.
Collecting beautiful silver coins and loving Numismatics!