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user_7392's Blog

05 Sep 2015

What to Learn from the Quick Sellouts

Young Numismatists Exchange | user_7392

In the past few months, people have been unhappy with the mint’s service. Whether it’s the March of Dimes Special Silver set or the Presidential Coin and Chronicles sets, Collectors have been unable to purchase the coins they wanted. People need to realize some things before they start an uproar.

The first of these is supply and demand. Take for example the Harry S. Truman Coin and Chronicles set. There were seventeen thousand sets produced, each at a low price of $60. There are certainly over seventeen thousand people interested in these sets, although many of them were just larger companies and dealers. Either way, everybody had a fair shot at these sets. There were simply too many people who wanted the set and too few sets. If you did not get one, do not worry, as the prices will likely stabilize after the initial speculation. It is just a matter of patience.

On that same note, the frustrated collector must realize that most of the demand for these sets is from speculators. In short time, prices will fall. While they will not be anywhere near issuing price, the premiums will not be as high. As I said, you should just wait it out and you will be able to get the coins you desire.

If you are planning to purchase some more sets like these from the Mint in the future, learn from what has happened. Get on the website as soon as you can to help ensure that you get what you want. If you don’t, someone else will and they will beat you too the punch.

I have my own experience with these quick sellouts. I had been saving my money all spring in anticipation for the March of Dimes set. Unfortunately, I was unable to order the coins on the first day of issue due to after school activities. When I finally was able to try and order them the sets were on backorder. I too felt the frustration and pain of being unable to purchase the coins I wanted. But, luckily, I was able to place my order and my coins arrived sooner than expected. I was angry, but things turned out well in the end.

In conclusion, while these quick sellouts have been frustrating, collectors should realize that they are not going to end. If you are going to be purchasing any of these sets in the future, learn from what’s happened. Good luck and happy collecting.



Comments

SpartaCuse

Level 4

When there is a limited supply of something, usually someone ends up unhappy - nature of supply & demand - What the blog & everyone here had to say is true - you just gotta be ready to be first or patient & get some in the secondary markets & usually for less - Thank you for the blog

Mike

Level 7

Very true blog. The mint has no interest in collectors. Just making a profit. They have deals with wholesalers and just about everyone else. To deny a collector a chance of completing a set is wrong. But they don't care. Thanks Mike.

user_7180

Level 5

Well stated article. However, there will always be people who complain - human nature!

Kellen

Level 5

Yes, I agree with everything you say!

Longstrider

Level 6

Back-order is fine. Sold out in minutes is another thing altogether. Nice blog!

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