U.S. Mint announces plans for circulating rarity

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PALH1
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U.S. Mint announces plans for circulating rarity

#1 Unread post by PALH1 » Sat Nov 03, 2018 10:41 am

hugeeyes Coin World LINK

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Daniel
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Re: U.S. Mint announces plans for circulating rarity

#2 Unread post by Daniel » Sun Nov 04, 2018 7:23 am

As a dealer we must deal with this everyday when it comes to after market mint products. Here's a statement from the mint that highlights part of the issue.

"The Mint has to revamp its offerings to stem a continually eroding customer base. Ryder said when he served as the 34th U.S. Mint director beginning in 1992, the bureau had a mailings list boasting 2 million names. When he took office this spring at the 39th Mint director, Ryder said the customer profile had dwindled to roughly 500,000." Quote Mint Director David J. Ryder

We don't make this stuff up just to rip off people who come to sell. Mint product prices are down as soon as the coin is bought by a collector, near 99% of the time.

It has gotten so bad that the mint is even considering releasing a purposeful rarity into circulation in 2019. Plus release special editions to appeal to the youth to help stimulate the collectors market.

In my opinion they need to curb production costs so they can sell the coins at more realistic values as well. But this is an interesting development.

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Re: U.S. Mint announces plans for circulating rarity

#3 Unread post by mhonzell » Sun Nov 04, 2018 9:46 am

Daniel wrote:In my opinion they need to curb production costs so they can sell the coins at more realistic values as well.
Worse than driving a car off the sale's lot.

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Re: U.S. Mint announces plans for circulating rarity

#4 Unread post by PetesPockets55 » Mon Nov 05, 2018 7:59 am

So they normally want us to save, collect and buy items they sell at a premium, but not collect the stuff they make for circulation?
They don't say what the intentional "rarity" will be.

Any guesses?

I'll start the list....... A proof coin for circulation with a special design feature to separate it from a normal proof.
(A higher denomination coin tho, so it generates more income than it costs to produce it!!!)

They may even be waiting for collectors to weigh in, to see which "rarity" might generate the most buzz and bang for their buck.

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Re: U.S. Mint announces plans for circulating rarity

#5 Unread post by Daniel » Mon Nov 05, 2018 8:03 am

I think they should release a quarter with a low mintage or even a cent. I only have a guess on what it will be since all I know is what is in the article.

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Re: U.S. Mint announces plans for circulating rarity

#6 Unread post by PALH1 » Mon Nov 05, 2018 10:22 am

..... how about the .99 Cent coin ?? :l

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Re: U.S. Mint announces plans for circulating rarity

#7 Unread post by PetesPockets55 » Mon Nov 05, 2018 1:13 pm

PALH1 wrote:
Mon Nov 05, 2018 10:22 am
..... how about the .99 Cent coin ?? :l
lol:
I wonder if they would put them in storage like they do the dollar coins? hugeeyes
That would increase the rarity even more!!! Make billions and only release one. lol:

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