Login

Do You Think The Mint Should Go To a Lottery System on Low Mintage Coins?

I think they should. It would defiantly be much better. No computer crashes no people getting two and three. I watch coin show dont buy thats how I know they still have them. It worked before so I say so do it again. The first thirty thousand to reach the mint gets the coin  not coins. Or the mint can choose randomly 30,000 people. There are many ways it can be done.l

23 days ago

I was a proponent of a lottery system but now, in thinking about it more, I think the mint should not be in the business of creating false rarities, it should offer any coin it mints to as many people that want it.  You can cap the mintage at, lets say 500K, but you should never discourage collectors from adding to their collection. 

22 days ago

Mike, I hope you don't mind but I am posting the exact message I sent to you yesterday as to my feelings on the subject. "There's one problem I have with this coin. That is that the mint is creating an artificial and arbitrary rarity. I see these running in the secondary market as high as $3500 and averaging around $1100. This was entirely predictable and the mint purposely created it. It sickens me. Then they serialized it and the third party graders jumped on the bandwagon certifying the COA. Can you tell me what serial number 1 will be worth? All of it artificially created. If I was running the mint these very attractive and beautiful coins would be issued according to collector demand. Let's say you have a household limit of 1 and a purchasing window of say one week or even a day. Everyone who orders the coin in that week gets one. Don't leave it to the arbitrary and very unfair crashing of the mint's website. After all is it not we who are the mint's customers? I'd love to have one for the sheer beauty, but as such, it leaves a bitter taste in my mouth. Your idea of a lottery is also fair. I just can't see someone making thousands on an item they have no intention of keeping as a family heirloom."

22 days ago

Not to worry Mokie and Gary. I agree with you after some thought. I still wanted regular collector's a chance to own a rarity.. But after much thought I do agree. The mint should be making coins for collectors no matter how many we are. We deserve it after supporting the mint for so long. I with you guys. And you never have to apologize to me for your opinion. I respect them them all. Thanks guys.

22 days ago

I think that Just Mokie got it right ... there's no good reason to intentionally create rarities here. The Mint doesn't make more money for this, and it doesn't really serve their numismatic customers well. 

20 days ago

I have been buying from the US Mint for years.   I the frustration level to buy the 2019 S Reverse Proof Silver Eagle was overwhelming.  I decided to sell what I have and never purchase another product from the mint for the following reasons.
The computer black out that prevented many buyers from purchasing the product. This is not the first time that it has happened and they do not seem to address fixing the problem.
The shopping carts do not seem to be protected for any amount of time.  I put the coin in the cart right at the time purchasing was allowed.  Immediately I started typing my card account number, looked up and the coin disappeared and marked unavailable.  Then the system crashed.
Conversations with customer service seemed to be  "well that's to bad".
The frustration of searching the web for dealers and seeing them with many of the eagles.  One dealer had 50 to sell.  They are being listed at some kind of crazy inflated price. How can this happen (one per family listing)?  Is there a way dealers can buy in bulk ahead of the purchasing time?  Do some buyers and dealer have many virtual or fake accounts to get around the one per family rule.
I'm sure that there a lot of customers of the mint that are new to the hobby and they feel the same way I do.  They are asking why am I doing this to myself.  A lottery system may be the answer.
There is consensus in the hobby to try to figure a way to get more people interested in collecting, but the US Mint does not seem to be helping the effort.


14 days ago

I have written many emails to the mint. All not good. There is just to many red flags. When that day ended a mint spokesman said that at exactly 12:00 PM. There was 90,0000 coins in bags. How is that possible?. Are there computers older than the 1909 cent. This has to end. It's hard but the way to do it. No don't buy these fake rarities. End it.Some will buy but if 29,000 are still sitting there at the mint a week later they will get the message. Boycott them!!

14 days ago

@henry
I think that Just Mokie got it right ... there's no good reason to intentionally create rarities here. The Mint doesn't make more money for this, and it doesn't really serve their numismatic customers well. 
 I totally agree time for something to do but the people.won t go along with it. Boycott these false rarities. When there are 29,000 sitting in the mint a week later they will know we're are serious.

14 days ago

I believe it was Sun that said, long ago, no mint limits. They work for us to make coins for sale. Period. They have never had a problem melting coins that don't sell in the past..

5 days ago
We use cookies to provide users the best experience on our website. If you continue without changing your cookie settings, we'll assume that you agree to receive all cookies on money.org. You may disable cookies at any time using your internet browser configuration. By continuing to use this website, you agree to our privacy policy and terms of use. To learn more about how we use cookies and to review our privacy policy, click here.