The British Mint sells a portion of its low-mintage Commemoratives via Heritage Auctions, and those sold in this manner are graded by NGC. Prices start high but as more pieces come to sale the prices generally come down. For example, the 2020 1oz gold Mayflower Commemorative now sells for gold spot for PF70 Ultra Cameo. The mint has responded by reducing mintages and splitting some designs over 2 years. Good for the mint & vendor, perhaps, but not necessarily for the collector.
Yes, this was a big mistake by the US Mint! They are out of reach for most collectors! And, that means the US Mint is out of touch with coin collectors! It's time for a new US Mint director!
@@LegacyStacker As a government institution, even if working for profit in this case….if I was the mint director or treasury secretary, I would mandate that all limited run and specialty items limited in nature only be sold to the general public, randomized so that the web store cannot be manipulated. Select random people from the lobby to purchase the items. It’s bout the “collectors” and not the dealers and wealthy investment collectors.
@@ah5836 Rich people, yes....I have a bet in but I can bet normal collectors haven't even placed a bid let alone will ever own one now. People buy flashy jewelry all the time, don't pretend because someone spends money on something, its worth it.
the US mint has become no different than the Franklin mint or any other for profit business. Does it make it any better that we the common folks are being screwed by our own?
The US Mint is tasked with making money for congress to spend. Any Seigniorage is theirs to spend. If you don’t know it yet they have really never been very good at fairness or efficiency at the US Mint. My question is how long until it gets enough people pissed of that congress says no more. It has happened before. It is coming in some form, the hammer is swift when it comes. In a way it is overdue.
Increasing prices on silver and gold was bad enough. I waited for months to buy the gold coin. I never had a chance. Now they set 230 aside with privy mark, a lot of other incentives to draw wealthy buyers…. And what could make it better. A setting against each other to see who wants one the most in a bidding war by way of an auction. I have no words I care to say as to US Mints methods.
this is where the hobby has been going for a while. hyping "special" labeled holders, hyping stickers, hyping signatures by some big shot who in reality is no better than anyone else. But us stupid consumers are to blame. Those foaming at the mouth to way overpay!
@williamgrimes668 What I dislike is that the accessibility. These are more akin to a Bugatti, or Pagano sports car than a collectable. The ability for the average collector to obtain an item like this is literally impossible.
@@jamescarter8662 I agree. In the past although overpriced most anyone could afford any mint product and cherish the item. now it is more about "we the rich people"
I 100% disagree with this. I feel it's just a money grab on the Mint's part. Rare, in my opinion, is something that has survived through time, not created by a corporation.
I look at modern day collector coins as quite the same as baseball card collecting. Only difference is when no one takes intrest in these coins any longer they will at least hold their metal content values.
The people getting upset at the way the coins are being distributed and the auction prices are the same people that would be excited to have received the privy mark coins directly from the mint and sell them at the same high prices. Go figure.
How is adding 230 ultra expensive "coins" to the market going to help the hobby? I can see people being turned off and seeing it as a rich man's hobby.
@@CoinHELPu look through the comments here. it is obvious the overwhelming majority are disgusted by the mint. Do you really think the hype will compel them to buy products from the mint so they can be part of the over-payer's club? Perhaps....sheepeople are just that stupid
This kind of action makes me steer clear of the Mint. This, on top of those Morgan's and Peace that went for outrageous amounts a few years ago, well.....I don't collect my coins for greed. Thank you Daniel. This is one of the things that detracts from this hobby. (shaking head)...
As a coin collector and precious-metal stacker I don't take any of this too seriously. I just collect what I like and can afford and don't worry what everybody else is doing.
The solution to this seems pretty simple. Half auctioned and half released via regular sales. With less up for auction, the bidding would probably bring the mint around the same value and real collectors would still have a legit shot.
1st mistake with US Mint: I got back into coin collecting in 2006. I bought gold bullion eagles and buffalos. That was a fairly good investment eventually, however, I would have earned far more if I had invested in the stock market . My 2nd biggest mistake was buying proof sets, and commemoratives, and other Modern Coins from the mint as investments. In this case if I had purchased MS condition pre 1940 coins I would have done extremely well. 😢
Since they were so successful it wouldn't be farfetched to assume they'll bring them back next year for a reissue of these medals. It was a selling point for the reverse proof morgan and peace dollar designs it would a one year thing, so it sells out. Suddenly its announced it'll be a yearly thing... I canceled my morgan, and peace dollar 2 dollar set because of the price and the fact I couldn't trust them anymore.
The resale value now on the gold flowing hair coins without the privy mark on ebay is around $4500. I think it's dropped slightly since Nov 14. Once the hype is gone these gold coins might not retain their $3640 issue price.
Something as limited as this should have be released via the web store. They could also have randomized the who was let in out of the lobby through out the day or some other randomized approach
Same with me. By the mid 70s I smartened up and I realized that there was much better and more interesting material to be had. Plus, watching those mint and proof sets from the late 60s and throughout the 70s and beyond mostly being overproduced was a good reason for staying away from the mint.
If they want to create special limited coins let common people have a fair chance. Put them in a box of cereal and then people who can't afford thousands of dollars for a coin could have a chance but make sure at least one coin goes to each state. Just a fair chance for everyone.
I'm but I personally don't think the mint should be allowed to put stuff in auction. They are a mint and are creating the coins. Not dealer's this I disagree with what's being done.
All I can say is prior to about 1982 before modern commemorative coins were reintroduced after a 28 year gap, the US Mint was dead set against ANY coin design changes, creating new coinage, etc. Then they realized how much money they were missing out on making because gullible people were willing to pay for over priced items that many years later wasn't even worth half of the original issue price. Folks, this is a hobby, not an investment avenue. Yes, it's all right to make some money over the long haul if one buys and collects intelligently for enjoyment, education, etc. but to buy simply because they think they're entitled to make an immediate profit or 'killing', it's wrong. No one should be entitled to be 'first'. The mint should take orders for their products and fill all of them. If they cannot do that, they should not issue the coin.
I don't think there's any reason a guy couldn't use the cancelled dies to make some rounds. It's not legal tender, so it's not counterfeit. Edit: it says hundred cents on the rim, so I'm guessing you'd have to leave that off the rim? Daniel would that be legal?
Collecting coins were a great way to learn. The mint, the rich, have destroyed that for the common man. Silver is at 31.12 per ounce but the flowing hair silver sells at $399.
They should have auctioned off 200 and the other 38 should have been in a random lottery included in those who bought direct from the mint. Give Joe average a chance.
I think some people get bored with coins so the new big thing creates excitement I think its a nice looking coin in gold but cmon lol will these be selling for $20-30k 5 years from now or will people no longer care?
If you like what the mint is doing,😢 then just continue buying any of their recent "created rarities". I didn't like their tactics and refuse to buy them. This sort of stuff does nothing to help the hobby. It hurts it because new collectors can't imagine ever buying this expensive crap.
I would have like to have a chance. Maybe they could have done half on the website and sent the other half to auction. 🤷🏻♂️ idk what the answer is.. but hey they’re cool coins no matter what
According to latest Coin World Weekly, ABPP allotments for both the medal and coin was 20%. This includes the medal privy potential. According to the 2021 U.S. Mint press release, ABPP should get no more than 10% for limited editions. They will likely get another 20% or higher for whatever product the remaining medal and coin go into. Not Happy!
Agreed. The Mint has been pumping prices dramatically the last couple of years for annual releases. In addition to the "fixed" market for sovereign bullion only through the APP (that has no basis in the very law that created the program), they are in now violation of their own stated policy of 10% for the ABPP. Their latest great idea is going into a monopoly private rarities business catering to the independently wealthy. US citizens rightfully expect fair and equal treatment from public institutions. The Mint's recent behaviors are a violation of public trust using public assets to do so.
I'm VERY upset. Why? Because within the last few years, the mint has raised prices to obscene levels. They "play" with the mintage limits, they allow bots to buy most likely as many coins as they want, their communication to us collectors is almost non existent and their packaging is horrendous. The negative things the mint has done the past few years, just adds fuel to the fire. Raising silver medals/coins from $78 to $108 is ridiculous. Then they reduced the amount of silver in some of their offerings. I guess this Stacks Bower deal was the end of the rope for me. I've reduced my subs down to about 5 items from maybe 40. I'm tired of their games and mostly their pricing.
I am at a mixed reaction to what the US Mint is doing here. On the one hand they are letting the MARKET decide. On the other hand it is the US Mint. They should not be doing this. Maybe there will be a legal challenge to this practice.
A rarity to me is when the mint finds a bag of 1964 Peace Dollars in a old mint vault. The mint keeps up with making coins rare and unattainable to most collectors there will be no new and old collector's of mint products.
These will ALL go to the rich. That’s who this part of the Gold coin issues were designed to go to in the first place. They are the privy marked gold coins. Exclusivity for the rich. It pisses me off. It’s not on a level playing field.
I don't get this privy mark thing, the reason collectors like mint marks CC, O, D, S, are because the mints printed less of them making them rare. This was not intentional for collectors it's how the mint operated. Intentionally marking coins at the same mint same run doesn't make sense to me.
These high prices don’t bother me because it will bring a “New Set of Eyes” to the hobby and in return new collectors. This is good for the hobby! As for the distribution method they could have done better. How about one per USA address for the first 230 orders? How about having gold fractionals of 230 of the 1/2 oz, 1/4 oz, 1/10 oz. This way more collectors can own a piece of history without the high price so more can afford it?
Great idea, and I agree it will bring new people to the hobby. However those at the mint are no doubt Keysians like every other economist at the Fed and have no idea what they are doing - as they are all too blind to see gold simply reflects true monetary "value". If the mint truly understood this they wouldn't have "One dollar" still printed on gold and silver coins these days would they? And they would have issued real fractional gold and silver coins with the proper valuations printed on the coins (at the time) into circulation ,so people *really* understood what's been going on ever since Nixon screwed things up. But you see the Mint at the end of the day is just a Government department right> It's not "independent". And neither is the Fed. Nothing will change until these Keysians wake up that what they "believe", is actually nonsense. That day will come. But we are probably a long way off from it yet....
The first strike with cancelled dies should be in the Smithsonian so all can see not being sold at auction to the highest bidder! Very few people will have an opportunity to get one they should have put the privy mark on the ones that were sold at the mint instead of just auctioning them off only high end dealers and collectors can get them now.
This is honestly one of the smartest moves I've ever seen the mint make. Better than raising taxes! 😂Good old fashioned Capitalism, that's what it is. Ronald Reagan would be proud.
Mint may be creating rarity but for the average collector these are unobtainable. IMO they should have been released similar to the silver flowing hair where the average collector at least had a chance at getting the privy. Thx for the info Daniel
I live in a state where wine and spirits sales are controlled by the state. Once or twice a year, they have limited release lotteries of spirits with each release having its own price. To give everyone a fair chance of getting a bottle, you can enter a lottery for the release that you are interested in. There is no fee to enter, you only have to pay for the bottle if you win. It would be fairer to everyone if the mint did something similar with its limited edition coins.
The US Mint is the new Home Shopping Network. Created want, "buy now these won't last" at some wildly high price. Get real, this is a medallion containing one troy ounce of gold. It's not even legal tender. I wouldn't pay one cent over the spot gold price for this coin. Go ahead, waste your money and bid, you played yourself, stupid. What's next? A one of one copper round for 5 Million? Sheesh! I'm holding my nose at this one.
Actually the gold one *is* legal tender. It is the the Silver "medal" that isn't. Current price of $170,000 reflects about the true (non fiat) "worth" of 1oz wouldn't you say? That is if the Mint was forced back onto the gold standard. But sure. The Mint is but a reflection of where *all* government agencies have gone these days...
I don't like this auctioning at all. The mint should have sprinkled the 230 in with all the others, like they did with the silver medal. That way, everyone would truly have had a chance. Auctioning them off immediately cuts out the regular people who don't have five or six figures to spend.
Thanks Daniel. Many of us wouldn't have realized what the mint did with out you posting your video. I see both sides on this one. I'm sure they have more then 1 cancelled die? Offer a cancelled die in a random sale on their site, kind of like they did with the privy marked coins. If they only have the 1, I can see them doing what they did. Above all, the mint needs to honor the mintage's of what they said they would to the public on their website, not an auction site. It does create hype but does it really create hype for the normal public person? I think it turns some away. Me? Interesting to watch but no way that I can participate at those prices.
I was able to get one without the privy, so I feel pretty good about that. I have no problem with the mint auctioning off the ones with the privy. There has been and always will be things in this life that I can’t afford. Should I be mad at GM because they made a $160,000 Corvette. 🤣🤣🤣
I agree. I mean the coin still has an extraordinary history attached to it. At the end of the day I think the mints intent is to at least have a portion of these coins maintain its historical legacy from a collectors standpoint as well as a monetary standpoint by keeping a portion of them exclusive.
So the mint is getting them graded before selling...I guess they figure they will get all they can. I hope this is not their future business practice for all high end coins!
Sports and non-sports cards did this with the manufactured scarcity limited edition refractor-prizm serial number crap. Eventually they got greedy and flooded the market with it. I'd bet the Mint gets greedy and does the same thing...assuming coins values are still at their peak. Personally I'd rather have an 1856 flying eagle in my collection than one of these polished turds.
Sounds like the mint is in on the fix... over priced gold mint junk.. I'll put my dollars in ten dollar indians.. the old tens.. don't like the new stuff way overpriced
Modern rarities are nice, but the only reason they're nice is because it's a way to make money. Gives people a chance to come up big. Except they took that away. They're all getting sold at top dollar from the start. If I'm gonna have to pay that I might as well go with an old rarity. I also don't like how they did a bait and switch. They released the medals first, and gave the privy ones away as a lottery... then they release the gold ones with people thinking they're gonna have a chance at the privy, they sell out in 5 minutes, and then the mint says SIKE! They did absolutely nothing to make people believe they would do that, and did everything possible to make people assume they'd be given out by luck of the draw. Really? That's how you want to treat your loyal customers that already pay your insane prices? Not cool!
So modern rarities are only good if you’re trying to make money off of them? They don’t appreciate over time? Basically they’re not keepers is what you saying. This is an honest question. So what say you?
@allahintelligence Wait, what else is rarity good for if not value? The mint cheated its customers. They've never done anything like this before. They're supposed to sell it at a justifiable profit margin over manufacturing costs. That's always been their job, and it works fine. Their job has never been "we make rare coins to sell for huge profit." They cheated the game. That's what we collectors are for. These should have been given away mixed in with the normal ones like the silver medal privy. That's what everyone thought they were gonna do. That's why they sold out within 4 minutes. But nope, SIKE! The mint took all that value that is supposed to go to the lucky collectors who would become the primary owners. Now, there are no lucky winners. So what's even the point? How is this fun? You know how things made with love and passion just feel more special? Well, this coin was made with greed and envy. I mean, who celebrates 230 years anyway? I feel like this whole program was a big experiment they ran as a study into new sales tactics. I doubt they really care about the coin. Just "how can we extract more money out of these suckers?" That's my opinion, how it makes me feel. You may have a different take and that's fine. I just don't see the point in making manufactured collectables if this is how you initially offer them to the public. I don't think it's good for the hobby long term.
@@TheWinstonDouble ok I get it. My thing is I don’t buy to sell so I was wondering will it still appreciate over time. I’m not in it to make money off of it. Me myself like many others want to have something we own that has some history to it. I think the mint gave us an opportunity with this one. I seen they’ve been leading up to this celebration thing starting with the Morgan and Peace dollar 2021 commemoration coin. But with the FH they’re calling it a semiquintessential celebration. And by 2026 it’s suppose to all come together. I’m hoping we see the Bust dollar next year. They’ve actually bought the past to the future with this one and looked out for their best interest which is the US Mint added with the hype that this generation identifies with thru social media. Now people in this generation can somehow get a feel and attachment to the past with the remake of these old coins that are somewhat affordable with a little nostalgia attached to it. The Mint always lowers their mintage and product limit so that’s nothing to get excited abt. People just gotta be on the ball when the next one drops bc this how the Mint is playing now. That’s my take on it. It seems we both are in it for different reasons. Nonetheless I understand your point of view.
It's okay with me, in fact they should do more of it. The mint is operated at no cost to the taxpayer due to their Public Enterprise Fund (PEF) since 1995. The minting and sale of these coins defrays the loss they surely have from minting pennies and other coins that we use everyday, and the excess they earn over expenses goes into the US Treasury. So keep doing this and perhaps the wealthier in our society can splurge on these coins, enjoy them, (in addition to their exotic cars. Hint, hint Jack Black) and pay down the national debt! Win - Win. As for me, I'll keep collecting and enjoying Morgans, Peace, Walking Liberty, and other classic coins from generations ago, including the five I got from PCC in the past two months.
That Very 1st privy gold including the canceled dies is a huge deal. I knew we’d be very high on that one. It’s such a unique thing to own. I was actually figuring it would break a million. Knowing the die was included blew me away.
Your analysis is far off except for the 170,000 but it will be the cancelled die - but is it authenticated? No one will buy it at these prices and you will be stick with a very expensive coin with a high insurance rate.
So this is interesting, having worked with the feds. We used some auction houses for certain items/property. Stacks should have submitted a competitive bid to hold these auctions. I'm guessing great collections, heritage etc would have bid too. Would be interesting to see the FOIA on this. As to if this is cool or not? Idk most mints nowadays seem to do cheeky cheesy deals with one off coins. I do miss the 'hunt' which is better for the everyday man, but if you're the government trying to maximize your return (probably even more important with the incoming administration) this totally makes sense.
The Mint should not be allowed to sell via an auction house
The British Mint sells a portion of its low-mintage Commemoratives via Heritage Auctions, and those sold in this manner are graded by NGC. Prices start high but as more pieces come to sale the prices generally come down. For example, the 2020 1oz gold Mayflower Commemorative now sells for gold spot for PF70 Ultra Cameo. The mint has responded by reducing mintages and splitting some designs over 2 years. Good for the mint & vendor, perhaps, but not necessarily for the collector.
And yet people still willingly bid on them
Yes, this was a big mistake by the US Mint! They are out of reach for most collectors! And, that means the US Mint is out of touch with coin collectors! It's time for a new US Mint director!
@@LegacyStacker As a government institution, even if working for profit in this case….if I was the mint director or treasury secretary, I would mandate that all limited run and specialty items limited in nature only be sold to the general public, randomized so that the web store cannot be manipulated. Select random people from the lobby to purchase the items. It’s bout the “collectors” and not the dealers and wealthy investment collectors.
@@ah5836 Rich people, yes....I have a bet in but I can bet normal collectors haven't even placed a bid let alone will ever own one now. People buy flashy jewelry all the time, don't pretend because someone spends money on something, its worth it.
the US mint has become no different than the Franklin mint or any other for profit business. Does it make it any better that we the common folks are being screwed by our own?
The US Mint is tasked with making money for congress to spend. Any Seigniorage is theirs to spend. If you don’t know it yet they have really never been very good at fairness or efficiency at the US Mint. My question is how long until it gets enough people pissed of that congress says no more. It has happened before. It is coming in some form, the hammer is swift when it comes. In a way it is overdue.
@@homerj806 if it is nothing more than merchandise then it is the worlds most expensive ounce of gold known.
I've been saying it for years, don't put up with the US Mint shenanigans any more! BOYCOTT THE US MINT!
YES , right-on . They have gone too far with this crap . NO MORE .
And you wonder why people hate the US Mint.
The mint has sunk to an all time low
Never happy when the gov't. give someone a special opportunity to make money on ordinary people. Just not fair, not right,
Someone paying $5k+ for a gold coin is not an ordinary person. Mints are always creating special coins meant only for very wealthy people
Well, there are people out there stupid enough to pay that much for an ounce of gold.
That would be the rich collector that can has no problem with money! It is investment to him due to it being number Privy mark by PCGS!
They're not so stupid if they have that kind of money, unless they're dealing with a coin broker that is lying to them and ripping them off.
And even stupider people out there that pay 6 million for a banana 🍌 held up with duct tape that they call "ART".😂
Increasing prices on silver and gold was bad enough. I waited for months to buy the gold coin. I never had a chance. Now they set 230 aside with privy mark, a lot of other incentives to draw wealthy buyers…. And what could make it better. A setting against each other to see who wants one the most in a bidding war by way of an auction. I have no words I care to say as to US Mints methods.
This isn't coin collecting. It's favoritism!! Artificial hype.
this is where the hobby has been going for a while. hyping "special" labeled holders, hyping stickers, hyping signatures by some big shot who in reality is no better than anyone else. But us stupid consumers are to blame. Those foaming at the mouth to way overpay!
@williamgrimes668 What I dislike is that the accessibility. These are more akin to a Bugatti, or Pagano sports car than a collectable. The ability for the average collector to obtain an item like this is literally impossible.
@@jamescarter8662 I agree. In the past although overpriced most anyone could afford any mint product and cherish the item. now it is more about "we the rich people"
You are right, it isn't for the coin collector but the coin investor.
I 100% disagree with this. I feel it's just a money grab on the Mint's part. Rare, in my opinion, is something that has survived through time, not created by a corporation.
I look at modern day collector coins as quite the same as baseball card collecting. Only difference is when no one takes intrest in these coins any longer they will at least hold their metal content values.
The people getting upset at the way the coins are being distributed and the auction prices are the same people that would be excited to have received the privy mark coins directly from the mint and sell them at the same high prices. Go figure.
💯
I have NO DESIRE to own one of these. I could use the money for something else.
Right!? $20,000? I can get a really sweet coin with that much money! Something ACTUALLY old and rare.
How is adding 230 ultra expensive "coins" to the market going to help the hobby? I can see people being turned off and seeing it as a rich man's hobby.
It creates hype for US Mint issues.
@@CoinHELPu look through the comments here. it is obvious the overwhelming majority are disgusted by the mint. Do you really think the hype will compel them to buy products from the mint so they can be part of the over-payer's club? Perhaps....sheepeople are just that stupid
This kind of action makes me steer clear of the Mint. This, on top of those Morgan's and Peace that went for outrageous amounts a few years ago, well.....I don't collect my coins for greed. Thank you Daniel. This is one of the things that detracts from this hobby. (shaking head)...
Totally.
Someone is going to take a bath at $170,000.
I think that the Mint should have auctioned the first 30 and randomly sent out the others to regular customers.
As a coin collector and precious-metal stacker I don't take any of this too seriously. I just collect what I like and can afford and don't worry what everybody else is doing.
The solution to this seems pretty simple. Half auctioned and half released via regular sales. With less up for auction, the bidding would probably bring the mint around the same value and real collectors would still have a legit shot.
I think this is brilliant. There are only 230 of them with privy, but everyone had an equal shot at the non privy.
1st mistake with US Mint: I got back into coin collecting in 2006.
I bought gold bullion eagles and buffalos. That was a fairly good investment eventually, however, I would have earned far more if I had invested in the stock market .
My 2nd biggest mistake was buying proof sets, and commemoratives, and other Modern Coins from the mint
as investments. In this case if I had purchased MS condition pre 1940 coins I would have done extremely well. 😢
ONLY 230?! Out of a population of 330+Million people in the US?!
But not that many collect or want one.
This is crazy! I cannot see how people pay this kind of Money! But it's not up to Me!
Since they were so successful it wouldn't be farfetched to assume they'll bring them back next year for a reissue of these medals. It was a selling point for the reverse proof morgan and peace dollar designs it would a one year thing, so it sells out. Suddenly its announced it'll be a yearly thing... I canceled my morgan, and peace dollar 2 dollar set because of the price and the fact I couldn't trust them anymore.
The mint has to find a way to cover their losses on all their DEI themed coins
The resale value now on the gold flowing hair coins without the privy mark on ebay is around $4500. I think it's dropped slightly since Nov 14. Once the hype is gone these gold coins might not retain their $3640 issue price.
Something as limited as this should have be released via the web store. They could also have randomized the who was let in out of the lobby through out the day or some other randomized approach
Torn about this,
This stops alot of the flippers.
totally ridiculous for a modern coin.
WOW. I'm really surprised that buyers paying that much for a new coin when you can get an original dollar for the same money
exactly. you can buy a real historically significant gold coin for slightly over melt value
I stopped buying from the mint decades ago! As a kid in the late 60's early 70's I was a loyal customer. . . .
Same with me. By the mid 70s I smartened up and I realized that there was much better and more interesting material to be had. Plus, watching those mint and proof sets from the late 60s and throughout the 70s and beyond mostly being overproduced was a good reason for staying away from the mint.
If they want to create special limited coins let common people have a fair chance. Put them in a box of cereal and then people who can't afford thousands of dollars for a coin could have a chance but make sure at least one coin goes to each state. Just a fair chance for everyone.
Stacks is gonna get their cut too
i was in the queue, waiting to buy this coin from the mint directly, and got mysteriously kicked out !!! Raw deal !!!
I'm but I personally don't think the mint should be allowed to put stuff in auction. They are a mint and are creating the coins. Not dealer's this I disagree with what's being done.
I get there gonna be rare but then going for 30- 170,000 is nuts. Should of been on the mint site like the silver ones
All rarities are good if you get it.
I do not buy from the US Mint, and never will. No thank you very much, greedy ass bastards :)
Great video Daniel. Keep up the great work!
It's definitely a good-looking coin and that is very upsetting!😢
All I can say is prior to about 1982 before modern commemorative coins were reintroduced after a 28 year gap, the US Mint was dead set against ANY coin design changes, creating new coinage, etc. Then they realized how much money they were missing out on making because gullible people were willing to pay for over priced items that many years later wasn't even worth half of the original issue price. Folks, this is a hobby, not an investment avenue. Yes, it's all right to make some money over the long haul if one buys and collects intelligently for enjoyment, education, etc. but to buy simply because they think they're entitled to make an immediate profit or 'killing', it's wrong. No one should be entitled to be 'first'. The mint should take orders for their products and fill all of them. If they cannot do that, they should not issue the coin.
Yo I need help I want to know how much is a L in liberty in the rim cost and I want to know how much it will be.
Not valuable, I have a video on that, search my channel.
I don't think there's any reason a guy couldn't use the cancelled dies to make some rounds. It's not legal tender, so it's not counterfeit.
Edit: it says hundred cents on the rim, so I'm guessing you'd have to leave that off the rim? Daniel would that be legal?
I am thinking it would be.
These are a $1 coin, so wouldn’t it be counterfeit if you tried to mint using these dies.
Collecting coins were a great way to learn. The mint, the rich, have destroyed that for the common man. Silver is at 31.12 per ounce but the flowing hair silver sells at $399.
A 1916 D Mercury Dime sells for double that.
They should have auctioned off 200 and the other 38 should have been in a random lottery included in those who bought direct from the mint. Give Joe average a chance.
I think some people get bored with coins so the new big thing creates excitement I think its a nice looking coin in gold but cmon lol will these be selling for $20-30k 5 years from now or will people no longer care?
Look up the 2021 Liberty 1 oz gold medal. Huge mistake not buying that when it came out.
If you like what the mint is doing,😢 then just continue buying any of their recent "created rarities". I didn't like their tactics and refuse to buy them. This sort of stuff does nothing to help the hobby. It hurts it because new collectors can't imagine ever buying this expensive crap.
I would have like to have a chance. Maybe they could have done half on the website and sent the other half to auction. 🤷🏻♂️ idk what the answer is.. but hey they’re cool coins no matter what
What is the difference? One is the first one made the second one made and the third one made
I just got a 2000 Canadian it’s beautiful looks new, can’t find this one it looks like a boat with a rocket shooting in the sky.
Most government agencies lose/spend/waste tons of money. If the US Mint makes a profit is it a terrible thing?
Good point.
According to latest Coin World Weekly, ABPP allotments for both the medal and coin was 20%. This includes the medal privy potential. According to the 2021 U.S. Mint press release, ABPP should get no more than 10% for limited editions. They will likely get another 20% or higher for whatever product the remaining medal and coin go into. Not Happy!
Agreed. The Mint has been pumping prices dramatically the last couple of years for annual releases. In addition to the "fixed" market for sovereign bullion only through the APP (that has no basis in the very law that created the program), they are in now violation of their own stated policy of 10% for the ABPP. Their latest great idea is going into a monopoly private rarities business catering to the independently wealthy.
US citizens rightfully expect fair and equal treatment from public institutions. The Mint's recent behaviors are a violation of public trust using public assets to do so.
I'm VERY upset. Why? Because within the last few years, the mint has raised prices to obscene levels. They "play" with the mintage limits, they allow bots to buy most likely as many coins as they want, their communication to us collectors is almost non existent and their packaging is horrendous. The negative things the mint has done the past few years, just adds fuel to the fire. Raising silver medals/coins from $78 to $108 is ridiculous. Then they reduced the amount of silver in some of their offerings. I guess this Stacks Bower deal was the end of the rope for me. I've reduced my subs down to about 5 items from maybe 40. I'm tired of their games and mostly their pricing.
They don't allow any bots to buy coins, they cancel and potential bot orders.
I am at a mixed reaction to what the US Mint is doing here. On the one hand they are letting the MARKET decide. On the other hand it is the US Mint. They should not be doing this. Maybe there will be a legal challenge to this practice.
Will you send me an email to portsmouthcoinshop@gmail.com No, this isn't spam either. It's really me, Daniel.
2:34 Good day where can I sell my coin collection from around the world? Can someone please advise.Thanks
A rarity to me is when the mint finds a bag of 1964 Peace Dollars in a old mint vault. The mint keeps up with making coins rare and unattainable to most collectors there will be no new and old collector's of mint products.
They didn’t do the whole mintage for the silver medal either
People are mad because they wanted a lottery. Personally I could care less. I bought one because I wanted it. Not to flip for a quick buck
not cool Ventris, not cool! This is another way for dealers to buy them up!
These will ALL go to the rich. That’s who this part of the Gold coin issues were designed to go to in the first place. They are the privy marked gold coins. Exclusivity for the rich. It pisses me off. It’s not on a level playing field.
I don't get this privy mark thing, the reason collectors like mint marks CC, O, D, S, are because the mints printed less of them making them rare. This was not intentional for collectors it's how the mint operated. Intentionally marking coins at the same mint same run doesn't make sense to me.
These high prices don’t bother me because it will bring a “New Set of Eyes” to the hobby and in return new collectors. This is good for the hobby! As for the distribution method they could have done better. How about one per USA address for the first 230 orders? How about having gold fractionals of 230 of the 1/2 oz, 1/4 oz, 1/10 oz. This way more collectors can own a piece of history without the high price so more can afford it?
Great idea, and I agree it will bring new people to the hobby. However those at the mint are no doubt Keysians like every other economist at the Fed and have no idea what they are doing - as they are all too blind to see gold simply reflects true monetary "value". If the mint truly understood this they wouldn't have "One dollar" still printed on gold and silver coins these days would they? And they would have issued real fractional gold and silver coins with the proper valuations printed on the coins (at the time) into circulation ,so people *really* understood what's been going on ever since Nixon screwed things up. But you see the Mint at the end of the day is just a Government department right> It's not "independent". And neither is the Fed. Nothing will change until these Keysians wake up that what they "believe", is actually nonsense. That day will come. But we are probably a long way off from it yet....
Hate it !Love the coin
The first strike with cancelled dies should be in the Smithsonian so all can see not being sold at auction to the highest bidder! Very few people will have an opportunity to get one they should have put the privy mark on the ones that were sold at the mint instead of just auctioning them off only high end dealers and collectors can get them now.
Definitely not for WE THE PEOPLE. Somethings not rite!!
I could by 62 1oz gold rounds for $170,000 ! Thats just ludicrous !
Im with you on that one. I have no interest in buying one of those stupid bullion rounds because they are not a legal tender coin.
This is honestly one of the smartest moves I've ever seen the mint make. Better than raising taxes! 😂Good old fashioned Capitalism, that's what it is. Ronald Reagan would be proud.
😂
That's just insane.....
That's what my grandad called to much money not enough cents 😉
Mint may be creating rarity but for the average collector these are unobtainable. IMO they should have been released similar to the silver flowing hair where the average collector at least had a chance at getting the privy. Thx for the info Daniel
Dealers and auction houses should have the same "chance" to get privy mark coins as the general public does, by ordering through the mint.
I live in a state where wine and spirits sales are controlled by the state. Once or twice a year, they have limited release lotteries of spirits with each release having its own price. To give everyone a fair chance of getting a bottle, you can enter a lottery for the release that you are interested in. There is no fee to enter, you only have to pay for the bottle if you win. It would be fairer to everyone if the mint did something similar with its limited edition coins.
If they want to run like a business do it to pay the 36 trillion off
I wanted to bid on it but I had an emergency to deal with. Its worth the money my opinion.
The US Mint is the new Home Shopping Network. Created want, "buy now these won't last" at some wildly high price. Get real, this is a medallion containing one troy ounce of gold. It's not even legal tender. I wouldn't pay one cent over the spot gold price for this coin. Go ahead, waste your money and bid, you played yourself, stupid. What's next? A one of one copper round for 5 Million? Sheesh! I'm holding my nose at this one.
Actually the gold one *is* legal tender. It is the the Silver "medal" that isn't. Current price of $170,000 reflects about the true (non fiat) "worth" of 1oz wouldn't you say? That is if the Mint was forced back onto the gold standard. But sure. The Mint is but a reflection of where *all* government agencies have gone these days...
@@wapphigh5250gold is roughly $2,600/oz. I will sell you a little for $170,000/oz
I don't like this auctioning at all. The mint should have sprinkled the 230 in with all the others, like they did with the silver medal. That way, everyone would truly have had a chance. Auctioning them off immediately cuts out the regular people who don't have five or six figures to spend.
Somebody has more dollars than cents. 😉
Thanks Daniel. Many of us wouldn't have realized what the mint did with out you posting your video. I see both sides on this one. I'm sure they have more then 1 cancelled die? Offer a cancelled die in a random sale on their site, kind of like they did with the privy marked coins. If they only have the 1, I can see them doing what they did. Above all, the mint needs to honor the mintage's of what they said they would to the public on their website, not an auction site. It does create hype but does it really create hype for the normal public person? I think it turns some away. Me? Interesting to watch but no way that I can participate at those prices.
I was able to get one without the privy, so I feel pretty good about that. I have no problem with the mint auctioning off the ones with the privy. There has been and always will be things in this life that I can’t afford. Should I be mad at GM because they made a $160,000 Corvette. 🤣🤣🤣
I agree. I mean the coin still has an extraordinary history attached to it. At the end of the day I think the mints intent is to at least have a portion of these coins maintain its historical legacy from a collectors standpoint as well as a monetary standpoint by keeping a portion of them exclusive.
So the mint is getting them graded before selling...I guess they figure they will get all they can. I hope this is not their future business practice for all high end coins!
I love it!
Well, Raise my Rent!
Sports and non-sports cards did this with the manufactured scarcity limited edition refractor-prizm serial number crap. Eventually they got greedy and flooded the market with it. I'd bet the Mint gets greedy and does the same thing...assuming coins values are still at their peak. Personally I'd rather have an 1856 flying eagle in my collection than one of these polished turds.
I see money laundering going through this auction.
Absolutely
I would give spot on it. It's only a repro. The real coin is the real deal! To rich for me!
Sounds like the mint is in on the fix... over priced gold mint junk.. I'll put my dollars in ten dollar indians.. the old tens.. don't like the new stuff way overpriced
I watch Classic car auctions. Watch these the same way. I cant afford that or that or that etc.
1 of 1
I'm not on the fence, the mint sucks and I will never buy from them again.
Boo to the US Mint.
Exciting Times, Indeed....!!! We get the Flowing Hair and Trump wins election all in one year. Life is good......God Bless
Time will tell..
Modern rarities are nice, but the only reason they're nice is because it's a way to make money. Gives people a chance to come up big. Except they took that away. They're all getting sold at top dollar from the start. If I'm gonna have to pay that I might as well go with an old rarity.
I also don't like how they did a bait and switch. They released the medals first, and gave the privy ones away as a lottery... then they release the gold ones with people thinking they're gonna have a chance at the privy, they sell out in 5 minutes, and then the mint says SIKE!
They did absolutely nothing to make people believe they would do that, and did everything possible to make people assume they'd be given out by luck of the draw. Really? That's how you want to treat your loyal customers that already pay your insane prices? Not cool!
So modern rarities are only good if you’re trying to make money off of them? They don’t appreciate over time? Basically they’re not keepers is what you saying. This is an honest question. So what say you?
@allahintelligence Wait, what else is rarity good for if not value? The mint cheated its customers. They've never done anything like this before. They're supposed to sell it at a justifiable profit margin over manufacturing costs. That's always been their job, and it works fine. Their job has never been "we make rare coins to sell for huge profit." They cheated the game. That's what we collectors are for. These should have been given away mixed in with the normal ones like the silver medal privy. That's what everyone thought they were gonna do. That's why they sold out within 4 minutes. But nope, SIKE! The mint took all that value that is supposed to go to the lucky collectors who would become the primary owners. Now, there are no lucky winners. So what's even the point? How is this fun?
You know how things made with love and passion just feel more special? Well, this coin was made with greed and envy. I mean, who celebrates 230 years anyway? I feel like this whole program was a big experiment they ran as a study into new sales tactics. I doubt they really care about the coin. Just "how can we extract more money out of these suckers?"
That's my opinion, how it makes me feel. You may have a different take and that's fine. I just don't see the point in making manufactured collectables if this is how you initially offer them to the public. I don't think it's good for the hobby long term.
@@TheWinstonDouble ok I get it. My thing is I don’t buy to sell so I was wondering will it still appreciate over time. I’m not in it to make money off of it. Me myself like many others want to have something we own that has some history to it. I think the mint gave us an opportunity with this one. I seen they’ve been leading up to this celebration thing starting with the Morgan and Peace dollar 2021 commemoration coin. But with the FH they’re calling it a semiquintessential celebration. And by 2026 it’s suppose to all come together. I’m hoping we see the Bust dollar next year. They’ve actually bought the past to the future with this one and looked out for their best interest which is the US Mint added with the hype that this generation identifies with thru social media. Now people in this generation can somehow get a feel and attachment to the past with the remake of these old coins that are somewhat affordable with a little nostalgia attached to it. The Mint always lowers their mintage and product limit so that’s nothing to get excited abt. People just gotta be on the ball when the next one drops bc this how the Mint is playing now. That’s my take on it. It seems we both are in it for different reasons. Nonetheless I understand your point of view.
@allahintelligence I'd be excited to see the draped bust next. That's one of my favourites. I just hope there's no silly games like this time.
@@TheWinstonDouble understood!👍
Mint coins, or mint lottery?
How does yours look?
I don't have one.
Imagine what that amount would do in the stock market!
It's okay with me, in fact they should do more of it. The mint is operated at no cost to the taxpayer due to their Public Enterprise Fund (PEF) since 1995. The minting and sale of these coins defrays the loss they surely have from minting pennies and other coins that we use everyday, and the excess they earn over expenses goes into the US Treasury. So keep doing this and perhaps the wealthier in our society can splurge on these coins, enjoy them, (in addition to their exotic cars. Hint, hint Jack Black) and pay down the national debt! Win - Win. As for me, I'll keep collecting and enjoying Morgans, Peace, Walking Liberty, and other classic coins from generations ago, including the five I got from PCC in the past two months.
Not a coin i want
That Very 1st privy gold including the canceled dies is a huge deal. I knew we’d be very high on that one. It’s such a unique thing to own. I was actually figuring it would break a million. Knowing the die was included blew me away.
Your analysis is far off except for the 170,000 but it will be the cancelled die - but is it authenticated? No one will buy it at these prices and you will be stick with a very expensive coin with a high insurance rate.
So this is interesting, having worked with the feds. We used some auction houses for certain items/property. Stacks should have submitted a competitive bid to hold these auctions. I'm guessing great collections, heritage etc would have bid too. Would be interesting to see the FOIA on this. As to if this is cool or not? Idk most mints nowadays seem to do cheeky cheesy deals with one off coins. I do miss the 'hunt' which is better for the everyday man, but if you're the government trying to maximize your return (probably even more important with the incoming administration) this totally makes sense.
This is a Bunch of BS!!! I'm done with the greedy Mint!!
Numismatics is the hobby of the richest people in the world. 170k is a drop in the bucket for them.
Crazy