2011 US Mint Product Prices
The US Mint has provided updated pricing details for their 2011 numismatic product portfolio. The good news is that prices for the most popular annual sets remain unchanged. The bad news is that prices for almost all other products have been increased.
Increasing prices for products containing silver is understandable, but the price increases for products containing base metal coins are less easily justified.
Here is a list of products and their new prices for 2011:
| Product | 2010 Price | 2011 Price | Change |
| 2011 Proof Set | 31.95 | 31.95 | - |
| 2011 ATB Quarters Proof Set | 14.95 | 14.95 | - |
| 2011 Presidential Dollars Proof Set | 15.95 | 19.95 | +4.00 |
| 2011 Uncirculated Mint Set | 31.95 | 31.95 | - |
| Annual $1 Coin Uncirculated Set | N/A | 49.95 | N/A |
| ATB Uncirculated Coin Set | 21.95 | 21.95 | - |
| ATB Quarters Circulating Coin Set | 9.95 | 9.95 | - |
| 2011 Presidential Dollars Uncirculated Set | 18.95 | 19.95 | +1.00 |
| 2011 Silver Proof Set | 56.95 | 67.95 | +11.00 |
| 2011 ATB Quarters Silver Proof Set | 32.95 | 39.95 | +7.00 |
| ATB Three Coin Set | 13.95 | 14.95 | +1.00 |
| America the Beautiful Quarter 100-coin Bags | 35.95 | 49.95 | +14.00 |
| America the Beautiful Quarter 2 Roll Set | 32.95 | 39.95 | +7.00 |
| 2011 Kennedy Half Dollar 200 Coin Bags | 130.95 | 134.95 | +4.00 |
| 2011 Kennedy Half Dollar 2 Roll Set | 32.95 | 34.95 | +2.00 |
| 2011 Native American Dollar Rolls | 35.95 | 39.95 | +4.00 |
| 2011 Presidential Dollar Rolls | 35.95 | 39.95 | +4.00 |
| 2011 Presidential $1 Coin Covers | 15.95 | 19.95 | +4.00 |
| 2011 Presidential $1 Coin & First Spouse Medal Sets | 11.95 | 14.95 | +3.00 |
| First Spouse Bronze Medals | 5.50 | 7.95 | +2.45 |
| 2011 First Spouse Bronze Medal Set | 15.95 | 19.95 | +4.00 |
| 1-1/2 inch Bronze Medals | 5.50 | 7.95 | +2.45 |
| 3 inch Bronze Medals | 42.00 | 44.95 | +2.95 |
Many basic products which enjoyed a small but dedicated following have morphed into numismatic luxury items. Sales trends seem to indicate that many collectors are starting to opt out of these products. Another round of price increases will only hasten the process.
At a time when the US Mint halted a bullion program due to excessive premiums charged by primary distributors, increasing their own product prices by large percentages with little justification comes across as brazen and inappropriate.
A few of the increases which stand out in my mind:
The price of the 100-coin bags of America the Beautiful Quarters has increased by 39% to $49.95 per bag. This product consists of $25 worth of circulating quality quarters in a canvas bag. As recently as 2009, similar products had been priced at $32.95. With these coins difficult to acquire from banks or circulation, the US Mint's bags and rolls were one of the primary dependable sources of acquiring the coins.
The price of First Spouse and other 1-1/2 inch bronze medals will increase by 44.5% to $7.95 per medal. In 2009, these medals were priced at only $3.50.
The America the Beautiful Quarter Three Coin Sets are increased by $1.00 to $14.95 per set. Each set consists of two uncirculated quarters and one proof quarter. These coins can all be acquired through the separately issued America the Beautiful Uncirculated and Proof Sets, or the full annual sets. If a collector purchased all five three coin sets, the cost would be $74.75 before shipping and handling. This compares to a cost of $36.90 for purchasing the ATB Uncircualted and Proof Sets.
The Presidential Dollar Coin Covers will have prices jump by $4.00 to $19.95 per cover. Each cover includes two dollar coins and a 44 cent postage stamp. At least in this case, the product offers some unique qualities in that the coins are sourced from the first day of production and the covers are canceled on the circulation release date.
The Presidential $1 Coin and First Spouse Medal Sets have increased by $3.00 to $14.95 each. Each set includes one dollar coin and a 1-1/2 inch bronze medal. When this product line was introduced in 2007, the sets were priced at $7.95.
Labels: US Mint
posted by Mint News Blog @ 9:55 AM
129 Comments:
Looks like I WON'T be buying this year from the Mint!!
After seeing this. I quit buying from the US Mint. Screw them and their over pricing and screw the associate APs. They have all lost their marbles.
Silver proof sets up 11.00. OMG this is the last straw for me. I'm over it too.
Wow! But think of all the returns the mint is processing from cherry pickers...
Silver is down to 29.26 and the US Mint announces 11.00 up on their silver proof set. UMMMMM I think that's about the worst thing they could have probably done. Even at a low mintage they will never be worth that until silver hits 70 bucks.
I don't think so. I will wait a couple of years when the overstock is sold.
The US Mint now has a bag of 100 quarters for 100% profit. WHAT A JOKE!!!!
Coin collecting is now officially ruled a loss of money. How sad. I knew this day would come sooner then later.
"The US Mint now has a bag of 100 quarters for 100% profit. WHAT A JOKE!!!!"
Don't forget, it costs the US Mint less than a quarter to make a quarter.
On the numismatic bags and rolls, they earn seigniorage and numismatic premium.
What Does Seigniorage Mean?
The difference between the value of money and the cost to produce it - in other words, the economic cost of producing a currency within a given economy or country. If the seigniorage is positive, then the government will make an economic profit; a negative seigniorage will result in an economic loss.
Even a numismatic premium is completely out of line with these bags.
IN PLAIN ENGLISH: A COMPLETE AND TOTAL RIPOFF !!!!
Sticker shock and awe!!
Finally we see prices high enough to kill the flippers ROFLMAO. I truly believe that the US Mint is hell bent on self destruction. They are simply making this hobby do exactly what baseball cards did. SELF DESTRUCT.
HYPER INFLATION IS ALIVE AND WELL.
Now the Mint is just getting Greedy. Whomever is their number cruncher messed up. What they have done is out priced the working man from non- silver and non-gold products too. Way to inspire the future generations to start collecting.
Why such a huge increase for the two-roll quarter sets and the 100-coin bags? There's no silver in them. Will these increases lift the market value of the 2010 quarter sets and bags when they go off sale?
The very first proof set from the US Mint cost 1.89. Now the cost is 67.95. That is what you call Super hyper inflation.
"Will these increases lift the market value of the 2010 quarter sets and bags when they go off sale?"
No. The only good news out of this is the flippers are screwed LOL. Good try though ROFLMAO.
It almost seems like the Mint WANTS to kill off these products! I'd already decided to stop buying the Presidential Dollar covers after seeing the horrible redesign with the new logo on it anyway, but I'm really disappointed about the coin & spouse medal sets! I want to keep getting those until the end, but by then what will they each cost? $49.95? At the rate they're going, that might not be far-fetched!
Yikes. I can understand the silver, but the rest is a little frustrating.
Very disappointed on on the Spouse Medals. That is a very large % increase and I was collecting two sets from each year. May need to cut back to one.
My orders of five Silver Proof Sets is going to be even more expensive. May need to cut back there too.
Sad as I was just getting into this hobby. The coins are beautiful, but I may just spend more time CRHing instead.
Do you want sand, salt, or broken glass with your reaming?
To the US mint...over the past 4years I have sent you many thousands of dollars. Our relationship is over, my subscriptions will be cancelled. You are obviously suffering from delusions of grandeur and self-importance. Jacking prices on clad quarters, proof dollars, spouse medals (and all obscenely), I can't justify this expense for coins with so little value. You've done it...with the ATB fiasco (I blame congress, not you) this insane gouging of the public, and the never ending counterfeiting of slabs and coins I'm done. I'll keep a few sentimental favorites but 45 years of collecting is going to be slowly sold to pay for my kids college education. That makes a lot more sense than handing them sets of overpriced worthless coins.
It once was a noble hobby. :(
Looks like the Mint is jealous of the profiteering the APs are doing on the bullion pucks, and has decided they want in on the money pie as well. Looks like greed is taking over the hobby.
And the Mint complained that APs were price gouging???
A history of piss poor quality and now insane price increases. Not an investment and no longer a pleasure. I'm done. Good Bye.
"Looks like greed is taking over the hobby."
That happened the minute the likes of David Hall and PCGS entered into the hobby. They started something called "How to rip off the hobby and get away with it". Just read his bio and you'll see what happened to this hobby. Him and people like him ruined this hobby.
One possible sleeper for 2011 is the ATB quarters Uncirculated Coin Set. This set may be the only way to obtain these coins in Satin Finish, since the regular Mint Sets are supposed to revert to circulation-quality coins this year.
Everyone has an opinion, some good some bad. One thing I noticed about collectors and dealers in general, is they are grumpy as heck or chronic complainers. I honestly believe if tomorrow the mint said all prices are to be slashed in half, a lot of these people constantly carping would be here saying things like "They're ruining the hobby by not making it difficult". I swear you're all worse than a pack of teenage girls with PMS. Now get to stepping!
At these prices, mintage and sleepers no longer matter. This hobby is toast.
I fold, I'm out.
I swear you're all worse than a pack of teenage girls with PMS. Now get to stepping!
Spoken like the true jerk off that you are in real life. Hiding behind your computer and telling people with good reason to be pissed to start stepping. I only wish I was where you are typing so I could have something to step on.
"That happened the minute the likes of David Hall and PCGS entered into the hobby"
Amazingly true! PCGS and its scammers have ruined coin collecting, and morphed it into plastic, labels, and phony price guides. Ideal for flippers.
I have limited my collection to purchases from the mint and do keep them in their original mint packaging.
The only plastic I need are garbage bags.
THE only place to get these new products is at the mint,because no one else will be selling them. I THINK THAT IS THE PLAN. COST TO MUCH FOR DEAlers TO MAKE ANY MONEY
And just image the ridiculous premiums theyll charge for the commemorative gold and silver coins this year.....
And just imagine the ridiculous premiums theyll charge for the commemorative gold and silver coins this year.....
quit the fighting yous guys, we're all in this together. being a hobbyist of many persuasions coin grabbing is my fav by far. I do not like to see fellow hobbying exhibitionists like myself fighting over this. Let's play with each other better and not so hard. Sound good?
"And just imagine the ridiculous premiums theyll charge for the commemorative gold and silver coins this year....."
I have that info too.
PR $5 Gold $449.95
Unc $5 Gold $439.95
PR $1 Silver $54.95
Unc $1 Silver $49.95
PR 50c Clad $17.95
Unc 50c Clad $15.95
That was going to be another post, but I am trying to deal with a server issue at Coin Update......
Eighteen bucks for a CLAD half-dollar? Whoa!
I'll chime in with an attention getter. Did anyone notice that this pricing list includes the "Annual $1 Coin Uncirculated Set," which was not available in 2009 and 2010 due to the lack of the ASE UNC coin - the center piece of this offering.
The pricing for the 2011 set is listed, yet the Mint has yet to confirm the availability of the 2011 ASE UNC Coin.
One of two things: the coin will be available and this set would be close to reasonable compared to their other products. Otherwise, the ASE UNC coin will not be available, and they plan to offer 5 golden tokens for $50!!!
Would definitely love to see the return of the ASE UNC.
Well I went hog wild collecting the state quarters in 04 and 05 06 (bags 2 roll sets etc.) I was guilty of following all the hype on these clad beauties paying $32.95 collecting a whole year sets at a time. ($25 face value) In 07-08 I quit because they moved nowhere.( and I hope I learned my lesson) '04-05 buffalo nickels, keelboat, ocean in view bags and rolls-went nowhere. $200 for a box of nickels ($100 face) boy did I take a pounding. But I got smart and said enough in '09 . Ten more years of clad quarters. I got out NO MORE!!!Now I can spend all these nicely rolled, bagged, and boxed coins for face value lick my wounds, and be happy I got out early. Only wish it was earlier!!!I hope you did better in your ventures.
Wow, just wow. I grudgingly bought the bags for the last few years of quarters, but this is just ridiculous. I could somewhat justify the premium to myself, but $49.95 for $25 in quarters that it costs the Mint 6.2¢ in metal (Coinflation, Jan 5) is beyond stupid. I will not be getting these. Thank you, Mint, for saving me $350 this year (price previous years).
That's just it. What most people don't realize is how many items get swept under the rug and forgotten. All this modern day crap and hype driven sales is meaningless when you go to sell it later. Yes there are a very few that break the barrier for profits. But the numbers are usually not much higher.
The US Mint has set up a situation now where they will be the only source of buying these items. Because any dealer or flipper in their right mind knows that this stuff will not sell in the real world to the public for these prices with a measly profit put on top of it.
I see 2011 as a year that the collector is actually able to take back the hobby to what it was before idiots like David Hall ruined it. I'm just glad I never got into all this modern day crap.
Because my older coins from the days of honest coin collecting are looking better and better each day.
Gold prices for February delivery ended down $5.10, or 0.4 percent, to $1,373.70 an ounce on the Comex in New York.
Annual $1 Coin Uncirculated Set N/A 49.95 N/A
I do not see this item on their Product Schedule?
To all the whiners -
If you don't like the price, don't buy.
Plain and simple. It might make some coins more rare....
Price inflation....
Now that Moy is gone, who you gonna blame?
LOLOLOL
to 3:37
If you think complaining about prices that have doubled in two years is whining you are obviously making a comment because you have nothing better to do---and that's as nice as I can put it.
Some of us really enjoyed our hobby as just that, a hobby. You of limited intelligence, and appreciation see things only as profit or unworthy.
From PC crap, to gouging, to counterfeit coins and counterfeit slabs, to the stupidity of producing coins that cost more to make than they are worth, anyone not concerned about their hobby enough to complain and question is a fool. (not as nice as I could be but I don't care)
Stamps and baseball cards here we come.
So let's see. If I buy a 2010 silver set it will cost $56.95? If I buy a silver 2011 it will cost me $67.95? Both silver sets will be available (possibly) til the end of the year. Which one would you buy? I find this quite odd other than there planning to raise silver even higher on the market. This may be a good indicator of that since silver is at around $30 dollars an ounce. It is sad that the mint is raising the 2011 set this high for no reason. I am beginning to think HSN owns the mint. Get ready for the 2011 Silver Proof Eagle prices.
US economy improves. Silver and gold prices continue to decline.
To all who bought the 6 coin silver territory quarters set.... You LOSE! Speculation don't pay.
HAHAHAHAHAHAHAHA!!!!!!!!!!!
The People speak louder in the end by being the demand the US Mint,Dealers, and Flippers need to survive.Looks to me like the powers to be might want to look at the lack of demand to be by increased prices to the people. Greed kills and leads to hyperinflation.
23,373 Lincoln FDC sold according the the current mint stats report. Not bad for such an overpriced product.
price increase for silver products seem reasonable. but for others. the mint is on a day dreaming.
a roll of clad coins price double the face value. don't buy it.
you know how much will be the 2011 silver eagle proof when it is come out today. it will be $60.95 each.
what about the palladium coin?. over $1,000.00.
what about the modern commemorative gold and silver coins. it will be very high.
just buy the old issue. mostly near bullion value.
I'm glad they raised the prices. Perhaps collectors will look elsewhere and collect REAL coins. Not this atrocious overpriced junk that they produce today.
Back to the hobby roots, collecting from circulation. You do it for the fun and you know exactly what it's worth, face.
There is more silver in the silver proof set than the 1 oz silver proof eagle. . . .ALWAYS buy coins with precious metal content. Never buy coins that are not gold or silver. . .You will lose EVERY time.
Ebay is the best way to buy depreciated coins with precious metal content
Hey grandpa! You been calling it for a long time now. I've read your posts on most of these blog threads and you kept citing that the mint was out of hand and pushing prices so high as to discourge collectors from continuing. This latest round of price gouging for uninspiriring low rent offerings is the final straw and broke the camels back for most. Your the guy who always says to spend your money where its treated best and it sure is not at the US Mint. Im done with them, Canada here I come.
Why such a huge increase for the two-roll quarter sets and the 100-coin bags?
Because most banks are not carrying these regularly unlike the state series. The Mint is the only place some dealers can get them.
"Speculation don't pay."
An you obviously didn't pay much attention in English class.
Maybe you should go buy all those bags and try to monopolize them. See how much you make off of them. LOL
There could be no clearer statement from the mint about having no regard for collectors and the economy.
I collected many mint products since 2007 but this is the nail on the coffin. I will not be buying a single mint product ever again --- I 'm out.
Anybody check the Annual Report?
"The numismatic customer base totaled 798,515 in FY 2010, below the target of 976,000 and down from 1.06 million in FY 2009."
That number is going to drop even more by the end of FY 2011. I guarantee it, or your money back.
It's to bad about the Mint's price increases. In years past, the medals and other really inexpensive offerings were added toward the end of my orders for other pricier products as a "why not" cause they were only a few bucks. Those days are over now. Can you believe the Mint is asking $39.95 + shipping for a $25 roll of Presidential Dollars? With so much of the new coins hard to come by in circulation, and outrageously expensive from the Mint, these will be some very dark times for real collectors and young enthusiasts.
Amazing..... customer base down almost 20% in one year and they do this. Thanks for the numbers. Obviously they have no competition to worry about.
They don't need any competition after they lose all their regular customers. This is what they will do, shut down. That might be the plan.
Funny how the mainstream media hasn't picked up on this highway robbery. The Royal Canadian Mint is an excellent alternative I have used since 09.
Anonymous @ 6:37 pm,
You're right on the money! I just don't get it. "Hmmmm, our customer base dropped quite a lot last year. What should we do? I know! How about more unjustified price increases? That ought to bring them back!"
Huh?
Will a 49.95 price on 2011 uncirculated commemorative silver dollars lead to higher prices on older commemoratives in the secondary market?
"Obviously they have no competition to worry about."
I wouldn't bet on that. When any business spits in the face of already unhappy customers, it doesn't take too long for the business to surely fail and go out of business.
The mint has made a fatal determination. They think that the lemmings will continue to allow themselves to be bled dry in order to continue many of the formerly inexpensive series and sets they had long accumulated. That's a fatal mistake. When you blatently price gouge, you can't get away with it forever. Your customer base will simply dry up and do business elsewhere. Every country has coins, and a Mint. I predict a flight from U.S. numismatics to foreign collecting. As the older customer base dies off, absurd pricing will shut out and discourage any hope that youngsters will rush into the hobby. This latest illadvised hike in pricing finally broke the back of the little man. Time to walk away.
US Mint = STUPID
Just wait, the "plastic" proofs and "paper" uncirculateds are coming next. And of course with an extremely high mark-up. The new silver will be aluminum, the new gold will be pig iron with yellow paint from China, full of lead.
For 7PM - probably not. Most of the modern commemoratives are unique, or parts of unique sets. The total productions, the graded populations and the demand for each issue will do the most to determine the values for each respective issue.
Different products in the same or different years rarely impact the values of other products. For example, the 2009 Lincoln sold out and will always be in demand. The 2009 Braille did not sell out and is likely to be a dog for some time to come. Boy Scout coin will be so-so, PC-isms not withstanding. The Disabled Veterans coin, another dog.
Moy and the next director and even some mint employees know all about this blog and how a lot of people feel about the current fiasco. I just hope there are some good Senators and Congress members who are collectors, that start digging into this mess. Just got a stupid product notification from the mint on a 3 coin Yellowstone quarter set. Those of us who have accounts, ought to log on and delete them, talk about getting their attention.
Sadly, the Mint is caught up in the same business management trap that every other product oriented company is: They focus on the bottom line and the reduced profits caused by reduced customer interest in the current product lines.
Since their focus is profit and achieving previous or better margins as quickly as possible, their easiest solution is to count on the current customers returning to buy the next versions of the same ol' products at the increased prices.
They have also taken the other, most typical action of most floundering businesses: REBRANDING!!! Big help that is. Level of service has hit rock bottom and started to dig. Interests in the needs of the customer is minimal, at best. And wrapping poop in a bright shiney package does not change the fact that it's POOP!!!
I understand the Mint has operating costs, and like every other business their costs are going to increase. To this extent, however, is highly unlikely.
The sooner the Mint begins to understand the demographics of their customer base, and to recognize the needs and the tolerances of their customers, the sooner they might begin to recover. At this point, could be too little, too late.
I'm wondering if this is all planned out in anticipation of less people buying from the US Mint.If this is their plan, IT WORKED.
The more I look at how our government is handle any issue any more. The more I see our present administration seemingly allowing it and doing nothing. It is almost as if this is planned failure.
On one hand the US Mint says private business can't make any more then 10%. On the other hand they increase many of their prices to 100%. Isn't this the pot calling the kettle black?
The US Mint no longer wants to be the high mintage Mint of the world. Simply because no one wants our money any more. They raise their prices because they know the mintage will not be wanted. This way they make less while charging more and in turn making the same profits.
I think the recent price increases are in anticipation of failure to have a good demand. This philosophy will only make it worse.
If you think about it in this way it makes sense. How many worthless Halves, Quarters, Dimes, Nickles, and pennies can our government make before they say their are to many. None of our banks need them or want them. The Fed is packed to the gills in them.
Everyone uses plastic now. The only real use coins are is numismatic any more. Numismatics is dying from greed. This hobby is surely screwed now because the demand is dropping. And maybe just maybe that is what this screwed up administration wants.
Maybe this administration wants no more paper money or change made so they can make everyone go to electronic money. This would become the supreme fiat money that can be electronically tracked and pulled at a flash for taxes. Pay as you go if you will.
I know it seems a bit far fetched. But there seems to be something making sure the little guys get screwed and the big boys take it all before the end. Could all this be a sign of a complete government shut down that will cause chaos to ensue? 2012 here we come.
WATCHOUT-PEOPLE!
Instead of sending another 2010 mint set, for one I returned because of a finger print on the P cent, the're crediting my account for 31.95!!!
I loose first shipping charge, loose my return postage, NOW they want me to order another one, costing another 4.95 shipping.
Totally un-real and a sure way to loose a 40 year customer, count on it!!!
Here is a little futuristic comedy for all the ebay lovers since we all need something to laugh about.
In 2012 Meg Whittman the former CEO of ebay runs for president and wins. Paypal becomes the only form of currency accepted all over the globe.They force taxes on every transaction. We are all implanted with chips that can kill us if we refuse to turn in our silver and gold. China buys paypal and finally owns all of America ending freedom as we know it today.
Donot need to wait till 2012, China already owns us, and its not a joke, but u can laugh
After seeing how China has attacked our nation with counterfeits and allowed it even to the point of making it legal in their country. I finally have the answer of how we should pay them back all the money we owe them.Everyone go on ebay and buy their gold counterfeits for .99 cents and free shipping. Put it all in a pool and pay them back in fools gold. If they refuse it. Tell them to stick our debt up their AZZ.
I bet the US Mint thinks these latest increases make 2010s prices look like a good deal. NOT!!!
Someone else made an interesting comment: it is clear that the future of physical money has a definite end date. When no one uses coins, or any physical money, anymore -- what will happen to the long term future of coin collecting? I started collecting like most people do, from circulating coins.
100 years from now, when few people alive will have seen a coin, will coin collections have much value at all? It is worth thinking about.
Michael, you're right about formerly standard collectibles becoming "numismatic luxuries". The silver prroof set is now pushing $70. What will next year bring?
Nick
With what I have purchased from the mint in the past, I will have to pay $115 in extra expences this year. It is a good thing the rich have so much extra cash they are the only ones who will be able to afford mint products.
The price of silver explains the cost increase in the silver related products. Silver started last year at about $19 and ended the year over $30 for an approximately 60% increase. The clad coin price increases seem unreasonable and are hard to explain without knowing more info on their manufacturing costs. Demand certainly couldn't be reason as less coins are selling.
29.12 an ounce on silver. Way to go gougers. You finally figured out a way to drop demand. Now the prices will drop because no one will want silver or gold at the high prices asked. When demand drops so does the spot price. Has anyone figured this out yet.Look at the housing market and what happened when gouging started there. Now all the people who paid 500,000 for a home is sitting on a home worth 250.000. These ATBs are selling for 2500.00 now but later they will be worth 1300.00 or even less. I wouldn't count on silver rising people. There are to many people in high places screwing it up for everyone. And guess what. Those people are not going to be the ones hurting in the end. It will be the average Joe idiot who paid 2500.00 for these ATB sets. Then our government will bail out the the people in high places. This country has become nothing but a joke with all the greed out there.
If you don't like this country, your welcome to leave it. Freedom has it's price. If it's too high for you, leave. I don't like it either, but it's reality. I do have the freedom to not participate and buy things I feel are overpriced and I plan on exercising that right. I don't plan on whining or bashing the country that has provided the most freedom of any country in the world though.
Here is a scenario for you. Petroleum goes up to 150.00 a barrel. commodities like sugar ,wheat, and others rise to the point that people are staving just to keep gas in their cars to go to work. Factories can no longer afford to make products because commodities are to high which forces them to raise prices on their products just to stay in business. Then no one can afford anything. It's called hyper inflation. If it is not stopped in some way. Our Nation will fall just like Rome did. Those ATBs won't mean crapola to anyone when that happens.
If there is no demand from banks for the ATB quarters and the price is so high from the mint for the rolls for collectors, what do you think the mint will do with all the quarters they are minting? Are they under any mandate to produce a certain number? Who makes the decision on how many to mint and is it based on how much is in reserve? Do they "melt" the excess, drop prices or force banks to take them. It seems from past blogs that there is a tremendous number of quarters being produced and I don't know if existing quarters are wearing out at the rate they are being produced.
I am a fairly new collector(2004) and keeping up with the changing 'rules' for coin collecting has been interesting. These blogs have certainly been the most reliable source of info as well as some very good entertainment.
From 1929 to 1933, unemployment in the U.S. increased from 4% to 25%, and manufacturing output decreased by one third. Prices fell by 20%, causing a deflation which made the repayments of debts much harder. The mining, lumber, construction, and farming sectors were hit especially hard, along with railroads and heavy industries such as steel and automobiles. The impact was much less severe in the white-collar and service sectors.
does this sound familiar.Have we not learned anything from the past. All these white collar suckers and service only lazy bass turds need to be the ones who take the fall this time. after all, it has been their greed that has caused our present day situation.
There seems to be a silver lining (opportunity) in this ridiculous escalation of new Mint pricing in my opinion. As the bad news spreads and the average collector becomes aware of the new pricing, I suspect more than a handful will decide to stop many of their on going set series that they had faithfully collected over the years. If you can't afford it anymore, having an incomplete set or series is a losing proposition, so I think many will be dumped at bargain prices. After having done so, monies will be available to narrow more affordable items.
I can't wait to visit our local coin show in the coming weeks to pick through some these jetisoned items that I've missed along the way. A great way to fill a few holes in my set series. A few times when I was out of work years ago, I couldn't afford to buy sets, and there are holes that were not filled. Now is the time to do so and catch up. I won't be buying everything others will be casting off, but it's an opportunity for me in some cases. Here's a great example where I'll be spending my money when it will be treated best. ~Grandpa
Hey Grampa,
You are very correct. There will be many people deciding to get out of collecting now.For the most part I think you will see a major shift from clad and collectibles to silver and gold. This will put many clad and collectibles on the market. There really never has been a lot of profit in those type collections. So filling those holes that make you happy should become very affordable now.
I don't see many people selling their silver and gold unless a major drop hits. But I do see the market of clad and collectibles becoming abundant. The increase in supply will certainly devastate any hopeful price increases on these items.
Good luck in finding what makes you happy. Also, I admire the fact that you buy silver for the silver value and don't get caught up in all this over priced hype. You seem like a very smart collector.
All these people assuming that their ms70s and pr70 are worth 3 and 5 times the silver spot price will be in for a rude awakening as the economy continues to decline.
Well, I'm not the brightest star in the sky, but I honestly have always thought and considered as many options as I could before jumping into certain things. On another blog subject a few weeks ago, I posted in response to a fellow who was agitated about the prices of those 5 oz. pieces that has been beaten up on both sides of the issue. I read one guy to be concerned about the investment part of owning a larger unit (5oz.) of silver in hard metal form. I responded that I've been buying unwanted Franklin Mint sets and missing piece sets at local coin shows in my area. ( There are quite a few.) Most are dollar sized (39mm), some a bit larger, some smaller. But most are .925 and as far as accumulating "meltable" silver in hard form, these are bought as a bargain. The trick is focus on the "missing / incomplete" angle with the sellers, and the prices drop through the floor in the sellers effort to "dump" his items. I have well OVER 100 lbs. on silver in my basement cabinet of .925 sterling silver pieces. If and when (2012?) silver reaches $75 oz., I will drive the load over to the melter and enjoy a healthy profit. Think before you mix accumulating those 5 oz pieces at ridiculous prices, and think to buy "junk" meltable silver. To each his own, every man kills his own snakes. :~)
~Grandpa
The 2011 Proof Set just appeared under the "Upcoming Products" link on the Mint website. It goes on sale next Tuesday. And, at least that is one product this year whose price did not needlessly rise!
The people and the government are still reeling from the ignorance of the Bush years. We should learn to expect just about anything by now. The government is doing its best to use the Mint as a financial life raft over the next decade. So, what do you expect? Everything will get expensive - including: gasoline, coffee, sugar, cotton, corn, and anything metal. So, get use to being screwed and don't expect any pleasure. The good times are over and will only get worse. I am now buying Pandas instead.
$ 1T spent on unnecessary war =
$ 1T spent on stimulus.
US coin collectors would like to see 0.001 % of that spent on new coin designs.
WOW! I guess I'm done too.
I'm out ,no more mint (U.S.) products for me it's up to everyone else to support the Mint...
I did not buy anything from the US Mint this year, same with 2011 dudes! It seems like the 2009 products are winners for the most part.
The 2009 products are winners? Not the ones I bought it seems!
The Coin & Spouse medal sets don't sell for squat, despite extremely low reported sales figures. Much lower than the 2007's that still sell for a ton. The 2009 First Spouse 5-Medal set barely makes anything at all, and the same goes for the Uncirculated Satin-Finish Mint set.
I'm done with this nonsense. Only products containing silver or gold for me. I'm tired of being the "discount store" for secondary market U.S. Mint product buyers!
The 2009 uncirculated mint set. What a joke!
"Oh, everyone will have to have those copper Lincoln cents! They will be the KEYS!" Shoot. The set barely clears issue price (sometimes even less), and that is BEFORE paying 11.9% in fees plus postage even.
The silly set had one of the lowest production runs in decades! If times were still like they were in 2004, the 2009 set would be selling for over $100 each right now. Remember when the 2004 sets were selling for $75-80+? 2004 had a LOT more made than 2009, and no special composition on any of the coins, either.
Like others have said, this hobby is pretty much dead. Rigor mortis is starting to set in.
The only thing that made 2009 winners was the fact that they were affordable to all. I think that is what he meant.
Now only the wealthy can afford to waste money of that carp. But, the wealthy are buying silver and gold. So that leaves all the carp unwanted which drops demand.
It will get to the point that housing got to. If no one buys it. Then the prices must be dropped. Because that will be the only way people will want to buy that carp again.
The flippers and TPG 70 graders can hype on low mintage and low pop and other factors all they want. The fact is that the over pricing will dictate an unfavorable market now.
My grandfather always said be careful of what you wish for. I guess the flippers and TPGs and now the US Mint have wished and even demanded higher prices. Now you have to live with the fact that your greed has ruined this hobby and you won't get squat.
The craziest price hikes I have seen have been on the US Mints presidential medals.These medals were 3.50 for more then 20 years if I remember correctly. Last year they went up to 5.50. Now this year they went up to 7.50. The only medal I'm lacking has yet to be made. It is OHBUMMER or BO. And guess what folks. That medal isn't even worth 3.50 to me nor does it even belong in my book of medals. So I'm glad to say my medal book is complete now. And I'm done with the US Mint.
I thought that dumb a** Ben Bernanke says there's no inflation. What a crock of s***.
And so lads it seems that the majority who have left messages on this particular thread appear to be joined at the hip and are universally stating they are through buying poor value coins at exhorbitant prices. I sense a true groundswell of disgust and fully expect Coin World, and all of the other major and minor papers and magazines to echo disbelief at the Mint's latest tactics. I don't believe the officials responsible for this mayhem to comprehend what they have done. One character here often mentions subscribing to a personal boycott of sorts. I think he/she is right. I'm anxiously waiting to see whether the numismatic papers stand up for the collectors and splash this lunacy accross their front pages. Short of that which can be seen by one and all, the powers in Washington will stay oblivious to more failed policy. Is everyone asleep at the wheel?
He was right. It's not inflation, it's HYPERINFLATION.He just didn't want to say that. Because ultimately it will lead to deflation from lack of demand.
It is interesting that the Mint discontinued the popular Au/Ag (Buffaloes and the W AGE, ASE) items, and is offering the clad commons at higher prices. If so many people are turned off by the Mints offerings as indicated in these posts, the sales reports should have some interesting rarities.
@Anonymous said...
January 6, 2011 5:55 PM
You are so right !
I want Congress to look into this.
Hello rep Issa
2009 FIRST TIME IN FIFTY YEARS NO RAISE FOR SOCIAL SECURITY, DISABLED VETS, AND RETIRED MILITARY. BOW AGAIN IN 2010.
How convenient for Obama after no Cost of Living for Social Security and Veterans for the 2nd year in a row the price of gas has gone up and now food prices
i would'nt buy any coins either ,go out and pay $5.00 or 6.00 dollars for a pack of smokes.maybe you can look at your coins while laying in a hospital bed
Yo Dawson; "go out and pay $5.00 or 6.00 dollars for a pack of smokes".
Can't image where you live, maybe down South. A pack of weeds up here runs $9-11 depending on the brand. Kinda expensive to keep that cough and black lung spot going. However your point was well taken.
Wow , we went from coins to health(care) within two posts . None the less I won't be purchasing anything from the mint this year and have already canceled my account with them .
..........just came from the mint web site and canceled my account.
I will spend the $1000 (that I did give the mint each year)at my local coin shop.
Account Cancelled
Your online account at the U.S. Mint Online Catalog has been cancelled at your request. You will no longer be able to access your account from the U.S. Mint Online Catalog. However, you may create a new account at any time.
Cancelling your account seems to be a bit extreme. I know you're trying to prove a point, but still. I hope you never need to access your order history!
I am finished with the Mint, account canceled !! However before I did that I made copies of all the order history (what few there were ) :) You never know when/if that info may be needed.
As far as this old sailor is concerned the mint has just sunk itself. They fired the last salvo across collectors bows that we'll allow them. These mint people think they're pirates who can do anything they want. Not any more they have just sunk future business from a lot of people. They'd do well to retract their new pricing schedule or surely lose their customer base.
Capt. Jack Sparrow
This just helps the Government and hurts small business. In time, the only people collecting coins will be our politicians and all those filthy rich freaks living in the Hamptons. We've lost so much in the last ten years. Being priced out of my favorite past time is just par for the course.
The mint is practicing what they learned in micro economics. They are testing the elasticity of demand. All businesses do this (grocery stores, oil companies, and drug companies in particular). The objective is to raise the market price gradually until a slight dip in demand is noted. This is known as the point of elasticity. The point of elasticity is the sweet spot of near maximum profitability identified on the supply and demand plot. To sell slightly less at the greatest possible margin and to maintain a sizeable volume is the true impetus of this practice. To find the maximum amount that one can charge for a product is beneficial to any producer. Some products, for example - life sustaining medications, have an extremely high point of elasticity because people will pay any price to stay alive and therefore the drug companies charge more for these drugs. With coins, people or families (typically ones with disposable income), tend to maintain traditional collections over decades and sometimes centuries, as to reflect the history of their family. So, these people (foolish coin collectors) are more than willing to pay the added increases to keep their family tradition going. So, you can expect the mint to further push the envelope to maximize their profits. How much are you willing to pay? 100% over face? How about 250% over face? What about 33% over spot? Everyone who buys this year will be guinea pigs in the mints financial experiment. However, one thing has become certain; capitalism has become obscene and the mint is no exception.
subscription canceled
Greetings from the United States Mint. The following subscription has been canceled at your request or as a result of maintenance by the United States Mint on your subscription. As part of this maintenance we are consolidating multiple subscriptions so that shipping and handling charges to the customer are minimized when subscriptions are fulfilled. Thank you for shopping at the U.S. Mint Online Catalog.
Membership : AQ2 ATB QTRS 100 COIN BAG P&D- QTY 4
Cancel . . : 1/07/11 Reason: 65 OTHER
Membership : M25 PRES $1 TWO-ROLL SUB - QTY 5
Cancel . . : 1/07/11 Reason: 65 OTHER
Membership : MJ8 PRES DLR SUBSCRIPTION - QTY 40
Cancel . . : 1/07/11 Reason: 65 OTHER
Thats All I have to say
Cancle your subscription NOW, you can always order on the release date if you still want that item.
I'm glad I had not ordered my 2010 Presidential Dollar Coin Covers yet. I was waiting until they were all 4 available and planned to order them all at once. I did not order right away even after Lincoln was released, since it appeared that it wasn't going to sell out (at least not too fast, anyway.)
Then, the Mint released the image of the Andrew Johnson cover with the HORRIBLE new logo redesign, which shrunk the portrait down to barely larger than the coin and placed that black bar all across the bottom. That was bad enough, but now they expect us to pay an additional $4 per cover? These things were already a secondary market loser, but I was buying them for my own collection even though I knew if I ever sold them someday I would take a beating.
At this point, I will not bother buying the 2010's. I will just take my losses selling the 2007-2009 covers and chalk it up as a lesson learned.
However, at least Martin Van Buren's cover has been bringing around $40 the last time I checked. That will help absorb some of the loss.
How high can we raise the price of oil without collapsing the world economy (OPEC)? How high can we raise the price of collector coins without collapsing the coin market (US Mint)? What a sick greedy nasty society we've become. Can you see the future now?
amamzing i agree this is crazy pricing on these products,but trust me you guys cancelling your subscriptions with the mint ,they could care less. but you all complain about a $4.00 t0 $12.00 increase and then you will go out and spend $2000.00 to $3500.00 for 25oz of silver .THERE SOMETHING WROMG WITH THIS PICTURE
The mint has become a rip-off for the working class. They are hoping the bulk buyers will take up the slack of lost collectors not buying now at these prices. It will be cheaper to buy single coins for albums from individuals. The proof sets don't hold any value anymore and will definitely never get your money back at the new price!! FTM
On top of the mints new prices, I wish all of you could see the quality of the Lincoln dollar and spouse medal, and the Lincoln first day cover, I just received yesterday. If they are going to charge so much more, they need to put nice coins in the sets they sell. All 4 metal items look like they have been in circulation for 2 or 3 years. Absolutely no excuse for such high priced, scratched up coins. Even the Mary Todd Lincoln medal is horrible. Talk about shooting themselves in the foot.
Lot of posts to this thread, seems like it really hit home.
I'm out too - had subscriptions for 5 and 10 sets of just about everything; I cancelled them all except a x5 box of SAE proofs. I may pick up the occasional lower-mintage precious metal release here and there such as the ATB 5 oz. or the upcoming $5 commem.
I have a complete run of proof sets and a nearly-complete run of mint sets to maintain but will be picking up new issues off eBay after prices go down and not from the mint.
Two words, "Demand Destruction." This will probably be the case for most of the Mint's product lines. However, this will result in significantly lower mintages and higher secondary market values. So don't complain.
What complete bullsh!t. I just went ahead and cancelled 4 of my subscriptions. Guess Owebama needs to fund his irresponsible spending somehow.
... all I hear is a bunch of slackers whining because they are too lazy and entitled to have made it into the top 1% of earners like myself.
Maybe if you wellware queens and kings got off yo lazy butts you could be able to afford a 300% price increase like me and Lil Wayne.
@ January 9, 2011 10:54 AM : Thanks for showing your mentality. It has nothing to do with as you say slacking,laziness or welfare. It does however have to do with mismanagement and greediness !! I for one could easily afford the 300% increase , But I'm smart enough not to waste my money & buy into it .. Have a nice day.
This is something we see from time to time up here in America; people with mo money than common cents. In time you will be back to shinin shoes like the rest of us.
Up date to WATCH OUT PEOPLE111
I didn't order another set- but I got another one in the mail today without a shipping charge!
My, My, My, My, My.
So they credit your account, then re-charge it???
Well, I feel better Mr. Mint!
You've saved yourself for now!
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