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TheBoss's Blog

24 Jan 2019

Apollo 11 Coin Opinions (along with other opinions)

| TheBoss

Hey guys!
I bought the Apollo 11 coin along with a few other items on the usmint.gov website a few hours ago.  Now, the design is stunning and I love coins that have a awkward shape or size.  One of the main cons of the US Mint commemorative coin program is that their coins are too expensive (as mentioned in a previous blog)!!!  As of 3:44 PM EST, silver prices are $15.38.  Production cost might be about $15 and maybe less.  The price they are selling it for it around $25 too high.  If they made it maybe $39, it would be pretty good.  Now for the 5 ounce coins, they go beyond crazy.  They sell it for $224 and $15.38 x 5 = around $77.  It is like $150 too high.  Production cost might be elevated to like $50 so maybe it would decrease to $100 too high.  They should sell it for a modest price of $150.  Seems fair right.  

Another con in the US Mint commemorative program coins is the fact that the plastic holders for the silver coins are no good.  A gentle nudge with your fingernail and the plastic holder comes off.  They should make it air tight or something more durable.  Despite all these cons, the final design on the coin urges me to buy it so really I have nothing to complain.  As for the 225th Anniversary Mint set or virtually any other modern proof set, the casing for the proof set (the plastic shell not the cardboard box) is the same deal as the plastic holders.  Last night, I gently nudged the shell with my fingernail and it came open.  The US Mint ought to check its quality standards!

Overall though, I am satisfied with the US Mint's products.  have a great day and thanks!

TheBoss

Comments

Kepi

Level 6

Not buying these coins. But glad you like them. Enjoy!

CoinLady

Level 6

Lovely coins, historical, but I don't think I'm buying.

Longstrider

Level 6

I'm out on this issue.

Mike

Level 7

Sir thank you for confirming a ten page report I received from the Treasury Department. Most people think like you stated that the mint sets the price. Unfortunately they didn't do there homework. The mint falls under the Treasury Department. But so called collectors think the mint runs all by itself. Not at all. I also take the human side of a story who pays the workers? I'm not telling. I'm tired of doing all the work. The old commens also had surcharges even the ones in the 1990's to help build the monuments that's in the redbook. Thanks mike

Mokie

Level 6

Secondary market is the key, then you don't pay out of B to get A.

VKurtB

Level 4

You'll never get mine on the secondary market. I buy from the Mint with the intention to keep them all, IN ORIGINAL PACKAGING, until some future Coroner's Deputy transports me to the morgue., not to be excessively morbid about it. I expect to die at work, never having retired.

LNCS

Level 5

Part of the price is for the organization that they are being created for. (IE: there is a surcharge attached for this)

VKurtB

Level 4

The US Mint does not choose the prices of their numismatic coins. The "bean counters" at the Treasury Department TELL the Mint how much they're going to charge, because of the mandate that NO taxpayer money be used ever again to subsidize costs of numismatic items. It's a whole new world. Everything is about avoiding costs to taxpayers. A) You like to buy commemoratives? B) Do you have a nose? Then you're going to pay out of B to get A.

Mike

Level 7

Well I won't have to worry about the plastic holders I will not buy any of the coins. Can't even make a proof one ounce please. And so many I predict no sell out probably wrong but that's ok . The mint has been wrong more than me. Thanks for your work Mike.

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