"What a rotten Shame!"

[Broke-Daddy]

EBay Dealers with multiple listings of 5, 10, 20- 25th Anniversary sets and more sets on hand . .

 

For those of us who followed the rules and stayed within the lines, and picked up our 5 sets or less, and then actually got them -- COOL! We got what we wanted for our collections, and one for that special gift, and didn't make pigs of ourselves. But that's far from what happened to the rest of the many hopeful collectors that tried to buy a set from the US Mint on October 27.

 

Having viewed and reviewed a ton of Journal Posts and Ads for sale of the 25th Anniversary Sets on EBay, CoinVault, Silvertowne, etc, and so on, we see capitalism flourishing. It is appears that the 100,000 total Mint Sets seems to have been purchased by probably less than 35,000 people and groups. This left 10's of thousands of individual collectors in the lurch, "Beat" out of a 25th Anniv. Set on that fateful day in October, now relegated to the secondary markets to get a Set, now costing nearly triple the price. And what of those still hopefuls(like my Son) who are even Today, getting that empty "Backordered" promise emailed from the Mint for a One-Set order?

 

See more journals by Gino Tumminia

[Kenneth F]

Check out the 25th Anniversary registry set.. you will see a member that has sets 1 thru 10 listed. Yea.. greed always trumps integrity.

[Mokiechan]

I read an article in Coin World about the reasoning the mint used for making 100K sets vice the 250K they did for the 20th anniversary. In a nutshell, the 9/11 medals used the same planchets as the SAEs and there were just not enough available planchets once the 9/11 medals took their share to push the mintage much above 100K so they settled on that number. I assume they would have done more if possible, after all, with the obvious demand established at the 20th anniversary, they knew they would sell tons.

 

Greed and selfishness always rear their ugly heads whenever circumstances exist where

huge profits can be made, their appearance with the anniversary set sales is no surprise.

 

Later,

Malcolm

 

 

[Broke-Daddy]

So far, I saw about 4 guys in the Top 10 (25th's) with at least 7 to 10 sets listed, I guess to build up their points. You'd think they would use some discretion, rather than showing off.

[Six Mile Rick]

I know quite a few guys also purchased those sealed 5 set boxes at---$4000. A dream they had at a fast buck.

The average 5 set box grades 2 to 3 70 sets. $4000 cost + grading & shipping + e-bay fees + pay pal fees + shipping again they will be lucky to break even. Now with the values still dropping daily on the bay $1100 for 70 set and $700 for 69 set 3-70sets and 2-69sets if you are lucky enough to get that in grading will bring $4700. So their BIG dreams blew up when the prices dropped this month.

HA!!!

 

Later----

[mailman1959]

I think we are all a little misguided in placing blame on the individuals who got more than 5 sets. I believe that responsability falls in the relm of the mint and there ability to monitor sales. As long as no more than 5 sets were sent to any individual name, address, or charged to same credit card then the ordering limits were not breached by anyone. As far as a company having employees order 5 sets each, that also did not violate any guidelines, as long as they were shipped to different addresses.. The U.S. MINT does not, and I repeat does not, care about collectors. When you see a headline that reads the mint will be accepting orders for 30 days and the grading companies will not be placing "special labels" with the coins, it will once again be "coin collecting". Most modern coins are not "collectables". they all grade 69 or 70 and are not worth the $20 to get graded. I think the smartest people are the ones that opened their sets to get the RP and S mint mark coins graded. They sold over 30 some million silver eagles this year, you call that collectable? Does having a label that says 25th Annivesary really add value to the coin? If it looks just like a regular Silver Eagle but they grabbed 100,000 of them and put them in different boxes, has does that add value? Just my opinion, enjoy "your" collecting adventures. MAILMAN

[Ultra Cameo Collection]

There is a difference between a mintage rarity and a conditional rarity. Most small budget collectors cannot afford a mintage rarity. When I started collecting graded coins I thought I'd like to have a nice graded proof set from 1880 all in cameo condition. Being as they are without question rare but for most proof coins from 1880 being the most minted proofs in the whole series of early proofs, I bought the Indian Head Cent in PF64RD CAMEO and spent a 2 week paycheck at the time on it. Then I did some research and found that I would have to get PF61 or PF62 coins for the rest of the proof set to get the coins I wanted for what I wanted to pay for them. So I lost that battle with myself and told myself I would pick it back up at a later date.

 

Modern proof coinage is by definition collectables, they make them for collectors and only a child or novice would crack out a proof coin and spend it like it was worth face value. There are some modern proofs that are rare by modern standards like the Smithsonian coins and the Jackie Robinson coins from the commemorative series. Ask any serious modern commem. collector about the High Jump coin in PF70UC they do not all grade 69 or 70. Check out my 1964 highest graded Washington quarter if you want to see a conditional rarity from a year of coinage that was far from rare.

 

There will always be more people who want these 25th anniversary SAE than there are sets available. I don't believe in collecting labels but have come to terms with people who believe, if it makes someone happy who am I to say otherwise.

 

Collect what makes you happy and if that is patterns or mint errors or even the seemingly worthless to some modern coinage then so be it.

 

I feel I have a very nice modern proof coinage collection and to some it would sicken them to even have a modern coin in their possession but explain how I am even to start a collection of coins for under $20 unless they are modern. I like what I collect as I'm sure most people like what they collect as well.

 

So in summary: Don't hate, celebrate! I love to hear the stories of people who are grateful to get a deal from time to time.

 

I knew when the 25th sets came out there would be people who would take FULL advantage of the mint and the people and those people are the ones who have to figure out how to sleep at night. Something makes me think they sleep just fine and that bothers me. I feel good knowing I wasn't one who tripled my money at someone else's expense.

 

Anyone have a 1996 SAE in MS70 that they would sell me for spot price I would like 2.

[Broke-Daddy]

I too believe in a little capitalism. On the other hand, discretion would have been prudent, especially Here on the Registry and Journals. We've read the comments made by a few of you who got screwed out of even a single set, because you could'nt get though online or on the phones that Day, then seeing one guy with 8, and another with 10 perfect sets listed on the Registry, and writing about it on this Board is like rubbing salt(or battery acid) in their wounds. Myself and others posted news about how happy and proud we were about the 2, 4, or 5 sets we sent in, but once you get into the 8, 10, or more-Man Just Keep it to yourself!

 

This topic makes many people angry mostly at the US Mint who screwed them in the first place, by not ramping up their processes for the Big Sale, fully knowing the havoc that was to ensue. After their experiences with the 20th Anniv Set in 2006, and the rush for silver eagles at the end of 2008, and then limiting production to just 100,000 sets (and now coming out with some flimsy story on availability of the silver blanks). You'd think that after those ques, they would have made efforts to bring their sales computers and software out of the 90's, and also add some more phones and staff for a few days to handle the load. It would have given more customers a fighting chance at getting at least One set in their hands(like the system was supposed to do).

[mikew148]

Is there any way that these people can be held accountable? After all, their mind set / approach in getting all of these sets was simply....I don't care about rules, limits, collectors, coins..etc.... The mind set is I CARE ABOUT MONEY ONLY!!!!

 

I agree with the collector who is mad because he buys coins from the mint all year long.....only to be shut out by people that almost never buy from the mint. There should be a "loyalty program" in place to insure that loyal mint buyers are considered first.

 

That being said....cheaters are going to cheat....that's what they do...that's who they are.

[Matt Parsons]

I have watched many threads about this subject being myself, one of the many who did not get thru to the mint for a shot at even one set at cost or thru the Mint.

I did what i could to secure a set thru the mint first, then i thought about how much i really wanted a set. I made the decision to go to the secondary market to get one at a cost i felt was high, yet a price i was willing to pay. You can too, today. Right now even.

The Mint made a business decision to sell whatever they wanted to sell and did so with a limit on each persons ability to get a preset limit.

Did some people do creative things to get more? Absolutely. Did the guy who has 10 sets in his registry do questionable things? Who knows. What i know he did was spent however much money he wanted to , be it credit or cash, and bought himself every set he wanted. Now he may sleep well knowing he is a true man because he is rich??? NO!

You all forget you to have the choice to buy as many, as much, or as little of everything you want. Sell you kids cars, blow the kids collage money, don't pay the bills, or steal a set from a naive neighbor for $50.00 more than the mint charged. I believe that's called Capitalism or free trade or something like that,,, I'm not to smart on these matters, but i was able to get a few sets for myself.

The point i am trying to make is we all do whatever we want to in the end. I was disappointed not to get a set for the $300 the mint sold them for. Yet i was able to secure several sets at a price i was willing to pay. Please do not forget that. It is each of our choices to do whatever we want. In fact, to me that's what these coins represent. Americans doing exactly what they want to do because were are afforded these options off the hard sacrifices our Military, our Forefathers and the sweat of the working class people. You can go elsewhere where you have these choices made for you and then you can be justified blaming the system. Not here though.

You all have a choice to be a victim and blame anyone/everyone you can. Or you can accept the fact that you too could but 10, 15, 100 sets if you wanted to. They are out there to be had, it just takes a single choice to say OK, ill take one.

If you don't have the money, that's your choice. We all make sacrifices to get and own what we want.

I have saved for years with no internet at home, no home telephone, no cable or satellite TV, an old beat up car yet i found the money i needed to buy a few coins that i really enjoy.

I could work 20 hour weeks and have none of these things and be very, very happy with my life. I know more poor people that are way happier in life than i am and they have no luxurious homes or cars or even a single coin other than a few from the store change.

I choose to work 60 or 70 hour weeks to have the LUXURIES i want. Remember, these coins are not our God given right, there not necessities, they are silver coins that everyone of us would be just fine without.

I do understand the frustration to want and not have something, believe me. But i do make my own choices in life and im pretty sure most of you do to.

Blame anyone you want for what others have that you do not! In the end its all just jealousy!

Is it fair someone was able to obtain 150 sets? Yes. They did what it took to do so just as you could have. Was i disappointed i didn't get a set for cheap? Yes. But i still bought a few. And i had to go thru hell to get them. My first set was one of the many that contained loose coins that were out of the capsules. I was mad when i saw the coins all beat up. I sent that set back. My other choices were to keep the junk ones, hope for more later. Should I send these back even though i got them for just over the mints price? It was a choice i had to make.

Then i chose to reach out on this forum where thru the kindness of people like Charlie, i was able to get 2 sets graded. Yep, i paid many times the mints price and i thanked Charlie for it. I could have waited for lower priced coins or the prices could have went many times higher and i still would have enjoyed the sets all the same.

I think most of us old enough to take ownership of our actions but still i see people posting silly things blaming everyone for their shortcomings. Get over it or go buy a set.

I'm sure this will cause all kinds of people to say im an but it is the truth in my eyes. Blaming other people is what 9 year olds do, not what adults should do. Yet here it is.

Quit being a victim. This is not important in life. It is just coins. Would you feel any better if you had the 10 registry sets? If so then you are just insecure and need a better life lesson than what a coin can give.

If the mint made a million sets would you still want one? I know i would because i collect as a hobby to relieve stress even though i admit this set caused me to feel sorry for myself too. It took a wise man to tell me this same thing and now you can chose to look at it in the real context of your life or sit there and feel sorry for yourself.

After all that is your choice afforded to you by this Government and ironically its the same Government that made these coins........

 

Sincerely, Matt

 

 

[Mokiechan]

Matt, Interesting, but somewhat long-winded, take. I guess you're saying people of means can have all they want and the rest should just shut up?

Later,

Malcolm

[mikew148]

Matt.

 

I got 5 sets......two graded at 70.

 

I'm looking past my situation to the big picture....all of the collectors that got shut out because of greed.

 

You're right though, all of us could have worked the system to our advantage. By why....for money?

 

I'm not talking about the sellers that purchased sets on the market after the mint sellout, I'm talking about the sneaky people that worked the system to obtain 30, 40 or 50 sets @ the $299 price tag. These people should not be rewarded and most certainly no defended.

 

If these people had not worked the system...you might have obtained your sets for $299 ea.

[delta]

Since the mintage was only 100,000, it was a terrible error by the mint to allow anyone to buy five sets, with the result that networks of people with fast computers could obtain many sets, and ordinary collectors were often shut out. Still, as pointed out by Matt, the current premium for an ordinary raw set, and even a set in NGC 69, isn't outrageous, and my feeling is now's the time to get one, at least within the next month or two, if you can afford to do so.

[ron consults-migration]

it took me 2&1/2 hours on two phones while simultaneously working my laptop to get through to the mint and place an order.....i earned my sets.

then had to endure receiving them and NOT be able to even look at them-almost more than i could bear....

the waiting for delivery confirm,grading,shipping & paying for all this...its a jungle....

i sought refuge on the message boards.....they helped carry me through this rough time...

[Broke-Daddy]

If these guys weren't so money-hungry, they would take ALL their sets off of ebay right-away. Let the crickets creak for a month or two, while folks are looking and not finding many, then start trickling the sets back in- One at a time, not by the gross! They'll sell every one, and prices should stabilize.. As far as the question of accountability, it's not all their fault, the Mint let their purchases fall thru the cracks. If anything the Mint should pick up on these guys now, and ban Them from any future purchases.

[J3_Dog]

Very Nicely Said............