2021 Morgan Dollars
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194 posts in this topic

So, did anyone else place an order for the O and CC privy mark Morgan dollars that went on sale today?  The process was annoying for me, but not nearly as frustrating as some of the recent high-demand coins.  I ordered them in about 17 minutes, and got enough for two of my friends to each have one, which was fortunate because one was completely shut out and the other was only able to get the O-privy and not the CC.

On another note, are they planning on making a proof version?  That might be really nice to have in cameo relief.

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3 Minutes into the sale the website began crashing,  20 minutes later the "Sold Out" signs went up and THOUSANDS of collectors got screwed,  But that's exactly what some of us predicted.  Go over ATS and read how they feel about it.  Didn't seem to effect the EBay sellers but then they got a Pre-Sale and the collector got screwed.

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I sorry that you didn't get one.  I had the same experience, I guess it's just the luck of the draw, had to check out and enter my credit card a dozen times before it finally worked.  I guess we get to try it all over again next week too...

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31 minutes ago, Alex in PA. said:

3 Minutes into the sale the website began crashing,  20 minutes later the "Sold Out" signs went up and THOUSANDS of collectors got screwed,  But that's exactly what some of us predicted.  Go over ATS and read how they feel about it.  Didn't seem to effect the EBay sellers but then they got a Pre-Sale and the collector got screwed.

My experience, in a nutshell.  (But what purpose is served by prolonging the agony by suggesting, via catalog, you have plenty of time to order.  And if it was sold out -- immediately -- why keep customers on the line plugging America the Beautiful quarters, and the such?

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I was able to add the "CC" to my cart on the first try just as they went on sale. Got one error message when trying to check out. However, the next refresh showed my order had gone through! 

I then tried for the "O" mint and spent about 20 minutes trying to add it to my cart before I saw the message that they were sold out. 

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I managed to get my "CC" privy but not without blowing a gasket or two first. This is no way for the mint to treat their customers. If the mint were competing in the open marketplace, they would have gone out of business long ago. Therein lies the problem. The mint does not have to compete for our business. After all, where are we going to go? To the dealers that charge us many times what they paid for the same coin?

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11 hours ago, Coinbuf said:

I had no interest in either and am very happy and stress free today.

90% of the people who bought them yesterday had no interest, but they are very happy and have more money today as the coins are currently selling for $200+.

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Posted (edited)
1 hour ago, coinsbygary said:

The mint does not have to compete for our business.

Exactly.  And if they give out a few to the Unwashed the rest can shop at the Dealers.  Who by the way didn't seem to encounter any problems.  Just have a look at EBay.

Edited by Alex in PA.
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Posted (edited)
5 minutes ago, gmarguli said:

the coins are currently selling for $200+.

hey g, what happens if something goes wrong and the US Mint can't meet it's sales.  Will EBay get you a refund in October if you buy today?  Just asking.

Edited by Alex in PA.
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1 minute ago, Alex in PA. said:

hey g, what happens if something goes wrong and the US Mint can't meet it's sales.  Will EBay get you a refund in October if you buy today?  Just asking.

If you pay with PayPal, you have 180 days to open a dispute. Some credit cards will let you open a dispute within one year of purchase. 

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Posted (edited)
On 5/24/2021 at 10:47 PM, Treeman said:

Considering the large mintage, I would expect to be able to get one aftermarket for a small premium..

Eventually, in fact eventually I would expect it to drop below issue price.  But for at least awhile it's going to bring a premium in the aftermarket.  I wouldn't be surprised to see the premium start to drop in about 6 days when the next two go on sale and start drawing all the attention.  many collectors loose interest when the "next hot coin" comes along.

Edited by Conder101
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On 5/24/2021 at 10:47 PM, Treeman said:

Considering the large mintage, ...

 

There are billions of people in the world, 333 million in the United 🇺🇲 (adjusted for the undocumented) millions of collectors and plain old Set Regisrants. Some of the smallest sports venues hold tens of thousands of people.

When a product sells out in mere minutes, it doesn't qualify as large and is by no means small. If you want to satisfy public demand, and you already know from past unpleasant experiences you cannot, you pre-order using the mails and get assigned a number.  Then it's a simple matter of sending your order in with a payment they prefer not a minute before midnight of the sale day to guarantee you've made it.

When I am 📞 my order in for 2021 Silver Dollars, the last thing I want to here is some blithering girl scout suggesting I start a collection of America the Beautiful quarters.

When you set ten (10) coins as the household limit, you are not doing the average coin collector any favors.  In fact, maybe I will send them three boxes and ten additional rolls of pennies and dare them to tell me the coins they produced for commerce are an unacceptable form of payment.

You know, nostalgia isn't what it used to be.  It's time someone gave them a taste of their own medicine -- and that someone is me.

 

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1 hour ago, Quintus Arrius said:

There are billions of people in the world, 333 million in the United 🇺🇲 (adjusted for the undocumented) millions of collectors and plain old Set Regisrants. Some of the smallest sports venues hold tens of thousands of people.

When a product sells out in mere minutes, it doesn't qualify as large and is by no means small. If you want to satisfy public demand, and you already know from past unpleasant experiences you cannot, you pre-order using the mails and get assigned a number.  Then it's a simple matter of sending your order in with a payment they prefer not a minute before midnight of the sale day to guarantee you've made it.

When I am 📞 my order in for 2021 Silver Dollars, the last thing I want to here is some blithering girl scout suggesting I start a collection of America the Beautiful quarters.

When you set ten (10) coins as the household limit, you are not doing the average coin collector any favors.  In fact, maybe I will send them three boxes and ten additional rolls of pennies and dare them to tell me the coins they produced for commerce are an unacceptable form of payment.

You know, nostalgia isn't what it used to be.  It's time someone gave them a taste of their own medicine -- and that someone is me.

 

Pffft! And you were going to get ME one?!?

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Posted (edited)
8 minutes ago, Alex in PA. said:

Do you have to have an account with the US Mint to get their goods?    :popcorn:

Yes, but it’s trivially easy.  Then set up a text reminder of the opening time so you don’t forget. Then go to their site 10 minutes ahead of that, get your ID and password logged, and at the magic moment order and keep hitting refresh every time you get an error message. Just like the guys on Big Bang Theory trying to get ComicCon tickets. 

Edited by VKurtB
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Posted (edited)
2 hours ago, Quintus Arrius said:

There are billions of people in the world, 333 million in the United 🇺🇲 (adjusted for the undocumented) millions of collectors and plain old Set Regisrants. Some of the smallest sports venues hold tens of thousands of people.

When a product sells out in mere minutes, it doesn't qualify as large and is by no means small. If you want to satisfy public demand, and you already know from past unpleasant experiences you cannot, you pre-order using the mails and get assigned a number.  Then it's a simple matter of sending your order in with a payment they prefer not a minute before midnight of the sale day to guarantee you've made it.

When I am 📞 my order in for 2021 Silver Dollars, the last thing I want to here is some blithering girl scout suggesting I start a collection of America the Beautiful quarters.

When you set ten (10) coins as the household limit, you are not doing the average coin collector any favors.  In fact, maybe I will send them three boxes and ten additional rolls of pennies and dare them to tell me the coins they produced for commerce are an unacceptable form of payment.

You know, nostalgia isn't what it used to be.  It's time someone gave them a taste of their own medicine -- and that someone is me.

 

With virtually tens of thousands of MS70 examples that are going to be available, this will never be a tough registry coin.

I expect @Conder101 is spot on. In not all that long, these privy marked Morgan’s will sell below issue price. 
 

Coin people have great mass. Mass hysteria and mass self-delusion. 

Edited by VKurtB
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28 minutes ago, VKurtB said:

With virtually tens of thousands of MS70 examples that are going to be available, this will never be a tough registry coin.

I expect @Conder101 is spot on. In not all that long, these privy marked Morgan’s will sell below issue price. 
 

Coin people have great mass. Mass hysteria and mass self-delusion. 

Totally correct.

The coin is a relative novelty but not that interesting to more than a low proportion of the collector base except at a nominal price.

If the reasoning in the prior post reflected actual behavior, then the price level across the board would be much higher, since practically every coin will be "scarce" under this reasoning.

The only reason any US NCLT above a nominal price sells for current premiums is due to a substantial speculative component.  There are unlikely anywhere near enough collectors who can both afford to pay current prices and actually want it as a collectible.

With these Morgan dollars, most will want one coin where the supply is at least 175,000 for each mint mark.  Many real Morgan dollars sell for the same or less in grades of MS-64 and maybe MS-65, especially if I read correctly that these are selling for $200 (or more) on eBay right now.

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5 hours ago, Conder101 said:

Eventually, in fact eventually I would expect it to drop below issue price.  But for at least awhile it's going to bring a premium in the aftermarket.  I wouldn't be surprised to see the premium start to drop in about 6 days when the next two go on sale and start drawing all the attention.  many collectors loose interest when the "next hot coin" comes along.

Fall below the issue price? Now that is crazy talk. Other than practically every product it sells, when was the last time a US Mint product fell below its issue price? :insane:

I expect these will hold up a little better than average. Look at the Buffalo dollar. It still sells for a premium and there are a lot more Morgan collectors than Buffalo collectors. 

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2 minutes ago, gmarguli said:

when was the last time a US Mint product fell below its issue price? 

Old San Francisco Mint Silver Dollar.  In 2006 I paid $39.00 hoping within a year to flip it for big bucks.  $32.00 BIN on EBay now.    :whatthe:

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7 minutes ago, gmarguli said:

Fall below the issue price? Now that is crazy talk. Other than practically every product it sells, when was the last time a US Mint product fell below its issue price? :insane:

I expect these will hold up a little better than average. Look at the Buffalo dollar. It still sells for a premium and there are a lot more Morgan collectors than Buffalo collectors. 

I don't know whether it will fall below issue price but there is no direct substitute for the Buffalo dollar.  It's the only crown sized coin with this design.  Circulating Morgan dollars are an alternative to the 2021's and the novelty will be substantially diluted if it becomes a continuing series.

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3 minutes ago, World Colonial said:

Circulating Morgan dollars are an alternative to the 2021's

Just bought a 1921 Morgan PCGS MS 64 for $89.00 and free shipping.

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7 minutes ago, World Colonial said:

if it becomes a continuing series.

United States Mint officials are giving serious consideration to make the 2021 Morgan and 2021 Peace silver dollars the first coins of an ongoing annual series.

Mint Director David J. Ryder raised that possibility during a May 4 Microsoft Teams video conference with numismatic journalists.

The enabling legislation, the 1921 Silver Dollar Coin Anniversary Act, Public Law 116-286, grants the Mint authority to issue additional Morgan and Peace dollars dated 2022 and beyond as an ongoing series.

Ryder said, during the online meeting with numismatic journalists, that he favors the continuation of the series beyond just 2021. Finalization of such a decision will be determined, Ryder said, based on demand for the 2021 releases.

 

I can see doing this with the Peace Dollar but a 2023 Morgan Dollar????

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11 minutes ago, Alex in PA. said:

United States Mint officials are giving serious consideration to make the 2021 Morgan and 2021 Peace silver dollars the first coins of an ongoing annual series.

Mint Director David J. Ryder raised that possibility during a May 4 Microsoft Teams video conference with numismatic journalists.

The enabling legislation, the 1921 Silver Dollar Coin Anniversary Act, Public Law 116-286, grants the Mint authority to issue additional Morgan and Peace dollars dated 2022 and beyond as an ongoing series.

Ryder said, during the online meeting with numismatic journalists, that he favors the continuation of the series beyond just 2021. Finalization of such a decision will be determined, Ryder said, based on demand for the 2021 releases.

 

I can see doing this with the Peace Dollar but a 2023 Morgan Dollar????

“There’s a sucker born every minute.” Countless products ran way up after issue and eventually crashed below issue price. The first was the White House commem Dollar of 1992, was it? It went above $200 shortly after issue and now it’s a bullion cost item.

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18 minutes ago, VKurtB said:

The first was the White House commem Dollar of 1992,

And I bought the Old Mint Dollar.  $39.00 at the Mint and $32.00 BIN Or Best Offer at EBay today.  Also selling for bullion prices.  

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33 minutes ago, VKurtB said:

“There’s a sucker born every minute.” Countless products ran way up after issue and eventually crashed below issue price. The first was the White House commem Dollar of 1992, was it? It went above $200 shortly after issue and now it’s a bullion cost item.

If this becomes a continuing series, expect the same gimmicks currently used for the ASE to extract as much revenue as possible from the buyer (notice I did not state collector) base.

I also expect it to take "share of wallet" at the expense of the ASE.  How much will depend upon the product mix, issue price and mintage. 

There may or will be sufficient increased demand for both, but not with the current mintage for the 2021.  I consider it unlikely that any single classic Morgan or Peace dollar date/MM is owned by anywhere near 175,000 collectors.

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