Yellowstone National Park Quarter Three Coin Set
The United States Mint will release the first numismatic product of the year on January 5, 2011 at 12:00 Noon ET. The product will be the Yellowstone National Park Quarter Three Coin Set.
This product includes three Yellowstone Quarters, one uncirculated coin from the Philadelphia Mint, one uncirculated coin from the Denver Mint, and one proof coin from the San Francisco Mint. The coins are mounted on a plastic card featuring the US Mint's new branding on the front and issuance information on the back.Although this product seems simple enough, it is priced dearly at $14.95 plus shipping and handling. This is up by $1 from the Hot Springs Three Coin Set released just a month and a half ago.
If a single Yellowstone three coin set is ordered, the total cost would be $19.90 for the three quarters. I am going to have a post tomorrow on US Mint numismatic pricing. For now, on to other things...
2010 Proof Gold and Silver Eagle Sales Figures
A new US Mint sales report is available with updated figures on some recently sold out products. The 2010 Proof Silver Eagle, which sold out on December 28, shows last reported sales of 856,356. This will rank as the fourth highest mintage for a proof issue of the series. The only years with higher mintages are 1986 and 1987 when demand for the new coins was high and 2006 when the coins were incorporated into several 20th Anniversary Sets.
The 2010 Proof Gold Eagle individual one half ounce coin was adjusted to reflect final sales of 10,000. The Four Coin Set option, which sold out on Monday, shows sales of 36,029.
View the complete US Mint sales report.
Labels: America the Beautiful Quarters
posted by Mint News Blog @ 2:33 PM
46 Comments:
Is this year the tipping point for some of these outrageously priced coins? If anybody buys this Yellowstone set they should have their head examined. One proof quarter and $.50 in change for almost $20?? I hope these are miserable failures.
Yeah, I definitely WON'T be buying any of these!
I think I'll mostly be buying items that are made of precious metal from now on. I just can't see paying these prices for items that will most likely be selling for considerably less down the road. I'm tired of losing money on this stuff!
You'd think the proof coin would at least be silver! Unbelievable pricing. I wonder if so few of these sell, they become collectible based on their scarcity?
In 2009 they made no proof ASEs. In 2010 they made to many proof ASEs. This was a lose-lose scenario for the loyal mint customer. If the mint made 400k proof ASEs in 2009 and 400k proof ASEs in 2010 - everyone would of been happy. But nooooooooo, they had to "F" it up like usual.
Whether by design or by utter accident, someone, someplace, in charge, or by just acting as a pawn, is systematically destroying a formerly pleasant and affordable hobby diversion.
Nice work! It's called the fleecing of America. $20 (plus 4.95 shipping) and you can get a plastic holder with .75 in spendable change. LOL,.....not in my lifetime.
If they are charging $20 for three quarters, how much are the numismatic 5 Oz ATB coins going to bring? OUCH!!!
The Mint must have hired HSN marketing castoff's to advise the clueless leaders on how to price garbage and make the rubes think they are letting quite a bargain.
Does the MINT honestly believe most American coin collectors are really dumb? These "sets" should be priced no more than $3.95 and FREE shipping. Congrats, ANOTHER offering I'll pass on. Keep them.
That grandpa poster is 1,000% correct and on target. He says he only spends his money where its being treated right. So will i from now on. The mint is shooting themselves in the foot with high crazy prices.
As a collector, I can sort of understand the appeal of getting each design on its own card as opposed to the yearly sets, but cripes not at that expense! And the completists still have to buy the silver set on top of it. So far the Hot Springs set has sold over 14,000!
It seems some folks will buy ANYTHING the Mint puts out, regardless of price or production level. It's like there are people who feel like they simply MUST buy every different product in every possible packaging variation that exists. Not me!
I did buy some obviously overpriced products in the past, but that was partially because similar products had performed well on the secondary market and also because I enjoyed the products themselves. I always kept at least one of everything, and made some money selling off extras. However, in nearly every example of that buying pattern, collector interests changed (seemingly overnight, in some cases), and I ended up holding a lot of products that no one seems to want anymore. I guess my losses will be other people's gains, as they can buy the products for a deep discount on what the Mint sold them for.
At least I finally wised up. The Mint's ever increasing prices were the final straw. I know full well that there is no way the secondary market will support these issue prices. There may be a few rare exceptions, but I'm not going to buy all of the dog meat products trying to find that one diamond in the rough!
The hit or miss nature of mint clad coins as well as rising prices has led me to only buy silver and gold. At least you have something that has intrinsic value that is greater than the face value of the coin.
This is a joke, what a stupid offering, as the others were. They keep this up, and people keep buying this junk, it may lift our debt up from the bottom. No way, no how, will I ever but this junk. Another problem will be when the mintage's come in low, instant rarity. I'll just take my chances and not buy, rare or not.
Hey out there US Mint ! Not everyone is made of money and can afford to be ripped off by your ridiculous products and prices. Common sense is dead, and has been for quite awhile. This is an insult to all collectors.
I am going back to '64 and before.
Not for flippers.
Oh come on evil flipper. Surely you must have some way to hype these dogs up and make then seem like a winner. You seem to do that on everything else. No matter how you cut it. The US Mint and the likes of HSN and AP dealers and flippers along with the TPGs are ruining collecting.
Oh, come on! There's nothing wrong with flipping! It's called being enterprising.
There's no way that flipping is ruining the hobby.
eBay item 280585348720
Asking $25.10 for the hot springs quarter 3 coin set!
Is he actually selling any at that price, though?
For almost 50 years I have collected most mint offerings, but no more, last year was the last straw. Only reasonably priced precious metals from now on. Heck, that may mean I'm done.
Unless someone is seriously lying. I think buying these at the current rip off price is completely stupid. He who waits may still get the deal according to APMEX.
Collector:
has upper management decided when these ATB 5 oz sets will go back on sale yet?
Welcome Collector! Your request has been directed to the Buying from APMEX department. Please wait for our operator to answer your call. We appreciate your patience.
Call accepted by operator Cristy. Currently in room: Cristy.
Cristy:
Hello Collector!
Collector:
hi
Cristy:
Not as of yet. We do have the coins here in our location and they will become available in the near future.
Collector:
Has APMEX sold any set since the first sale of 1000 sets
Cristy:
We have not.
Collector:
How many sets does APMEX have left after the initial sale?
Cristy:
I do not have an exact number. We were only able to honor the previous orders that fit under the US Mint guidelines.
Collector:
Should I believe that the public will be able to buy these sets at the same original initial sale price of $859.99 plus 19.99 shipping
Cristy:
That is what has been mandated by the US Mint.
Collector:
will APMEX be selling them at that price again and how long do I have to wait?
Cristy:
We will be selling them at the price mandated by the mint. We still are waiting for the alert to go out before they will become available.
Collector:
do I need to be signed into my APMEX account to receive the alert?
Cristy:
No, if you have signed up you will be notified via e-mail or text.
Collector:
Did APMEX make another order on the two orders that were never ordered from the other two APs?
Cristy:
Our maximum allocation from the US Mint was 3,000 sets of 5 coins each.
Collector:
I know that. But as of the 20th of last month. If all orders were not bought. The US Mint said they would reallocate them to the other APs who wanted them. Was APMEX one of those APs that reordered from the last two orders of 3000 set that were never ordered?
Cristy:
You would need to speak with management in regards to that. We have only been informed that we received our allocation of 3,000 sets.
Collector:
Ok thanks.
Just don't hold out any hope of getting any sets from The Gold Center crooks.
They bragged about only offering their sets to private dealers, and then they only offered 600 of 3,700 sets to the public!
They need to be immediately removed and their owners banned forever from the mint AP program.
I would be willing to bet that many of these sets end up at the fun show sold by dealers who were given special treatments by some of the APs which would be a great place to conduct an investigation of who these dealers with more then one set for sale are.
Michael,
Is there a way to get a copy of the new contract the APs had to sign. Can you post it if there is. Also, I would really like to know your views on this matter. Everyone values you views on any given coin situation. You always seem to give great unbiased views which would be a big help to the collectors you always stand up for. I think hearing from you on this matter would be very helpful for the collectors and dealers and flippers who come here.
***NO PRICE INCREASE AGAIN!!***
Atleast now, when calling the Mint legal department and congressmen about this greedy, crook filled fiasco you can give them the names of one of the culprits so far - The Gold Center.
I suspect several others of the 8 are getting their hands dirty as well, but the owner of The Gold Center has already publically bragged about and confirmed their crooked (and contract breaching) dealings - so we can start with them and get the rest as this fiasco develops!
After half the APs get banned, the Mint would practically have to start offering bullion directly to the public - which is exactly what needs to happen anyway! The sooner the better. These ATB coins will be a yearly event, and this cannot be allowed to take place every time!
I am very confident that everyone assuming that these ATBs will be the key date ATBs is wrong. There will without a doubt be times within the beginning and end of this program that the US Mint will release a much lower mintage of these ATBs. Even if they are a smaller size. That will not matter if the mintage is lower. So anyone expecting these newly release ATBs to hold the current rip off values is dreaming. Don't fall victim to all this hype out there.
The Mint's directive to "distribute directly to the public" might not be the same as requiring sales to be open to the “public at large.” APMEX is the only recipient that is set up to deal with the public at large. These other dealers are most likely looking at how to meet the requirement to “distribute directly to the public” without having to deal with the public at large and all the phone calls and hassles that would entail. They will find special clients, friends of employees, and perhaps others that might not be interested in the coins and then buy them right back. Anything left would be opened up the “general public” for a frenzy feeding till they are gone.
I really feel bad for those that refused to buy the coins from apmex when they were available even though they obviously wanted them. It's really sad to hear them whine day after day on here about how they can't get them now. I'm very sorry for you.
I hope everyone is calling the Mint's office of legal counsel (202-354-7280) to complain that Home Shopping Network and Coin Vault. Just tell them that the coin dealers are just giving the Mint the finger. lawyers hate that!
They have an answering machine taking messages so you don't even have to talk to a real person. Just tell them the coin dealers don't care what rules the Mint makes.
"The Mint's directive to "distribute directly to the public" might not be the same as requiring sales to be open to the “public at large.” APMEX is the only recipient that is set up to deal with the public at large. These other dealers are most likely looking at how to meet the requirement to “distribute directly to the public” without having to deal with the public at large and all the phone calls and hassles that would entail"
Nonsense. The mint directive does not leave wiggle room like that.
I personally called The Gold Center last week, and they told me that I could only buy a set from them in their store - which is fine... but now I find out they were only offering 600 of 3,700 sets to the public anyway.
At the exact same time that they would not sell any sets to me (a member of the public) they had already apparently sold 3,100 sets to someone!
Here is a link to the Mint ATB rules:
http://news.coinupdate.com/us-mint-establishes-conditions-for-atb-silver-bullion-coin-distribution-0572/
It's not open to interpretation, what The Gold Center says they did AND BRAGGED ABOUT TO A NEWSPAPER is breach of contract.
Public at large? WTF are you talking about. How about dealers at large. or APs at large. These APs are clearly in violation and will be dealt with accordingly. Any APs found to be breaking the contracts will lose their right to rip off the public any more which should be the case.
"They will find special clients, friends of employees, and perhaps others that might not be interested in the coins and then buy them right back."
That is exactly what will get their ability to be an AP revoked. These APs have completely disregarded the rules. The US Mints legal dept will not allow them to get away with that. The US Mint may not have control over the secondary market. But they do have control over the contracts violated by the APs. I look forward to seeing a list of all APs involved in breaking the rules kicked to the curb.
"They will find special clients, friends of employees, and perhaps others that might not be interested in the coins and then buy them right back."
Relax folks; this is just a theory of mine. It is just that since these dealers do not deal with the public at large I don’t see why they would want these coins if they intended to make them available to the “public at large” at a fixed profit that means nothing to their bottom line. They would have declined and let APMEX have them all and avoided the major hassle with the individual collectors.
collector:
Will the alerts on the ATB 5 oz coins go out to everyone at the same time. Or will the dealers and special customers get the alerts first?
Welcome collector! Your request has been directed to the Buying from APMEX department. Please wait for our operator to answer your call. We appreciate your patience.
Call accepted by operator Alycia. Currently in room: collector, Alycia.
Alycia:
Hello collector!
Alycia:
We haven't yet been advised how the alerts will be handled, i.e. if there will be advance notice etc
collector:
How are alerts usually handled ? One at a time or all at once?
Alycia:
Normally they are sent out all at once
collector:
Will they be handled the same way? If not why wouldn't they be?
Alycia:
We haven't been advised how they will be handled. This item has a much higher customer interest than our regular items.
collector:
Shouldn't this item be handled in the same way all items have been handled in the past to give all customers a fair chance of getting them?
Alycia:
That would be up to management's decision.
Alycia:
They have not advised how it will be handled for these coins.
collector:
This is not looking good if it is handled in the favor of all dealers and special customers. Shouldn't all customers get an equal opportunity to buy these sets.
Alycia:
I do not know how the alerts will be handled, management has not advised. If you would like to speak with a supervisor, you are welcome to call at 800-375-9006.
collector:
That's ok I'm not really liking the answer I just got here. Something sure sounds fishy to me. Why all the secrecy?
Alycia:
Management has not passed down any information to give. We are waiting to be advised how the coins will be handled.
collector:
They should be handled the same way APMEX handled the first sale. First come first serve with equal opportunity for all customers to acquire a set.. Any other way would be wrong IMO.
collector:
Many other APs are breaking the contract rules. I sincerely hope APMEX shows how equally fair an AP should be and show an example to the public that APMEX is a fair and great bullion company. This would set APMEX out above all the rest and make them shine in the bullion business. That is IMHO Thank you.
collector:
Are we done now?
Alycia:
I am still here.
Alycia:
I simply do not have any information on how it will be handled.
collector:
So you can not tell me if the ATB 5 oz coins will be alerted to all customers at the same time to give equal opportunity to all customers?
Alycia:
I understand the frustration, we have many customers who are interested in these coins. Once management advises how the America the Beautiful coins will be handled, we will be happy to give the information to our customers. But at this time, I have no information about the sales or the alerts for the coins.
collector:
Ok thank you.
Something sure does leave many questions unanswered. Why else would APMEX handle the alert any differently then they ever have unless they are setting up a list to alert first ie. The advanced alert that was referred to in this conversation. HMMMMM!
You are still missing the point, I suggest you go read their agreement with the Mint:
EVERY AP THAT TOOK THESE COINS FROM THE MINT AGREED THAT THEY (THEY AS IN THE AP) WOULD OFFER EVERY SINGLE SET TO THE PUBLIC AT A CERTAIN PROFIT MARGIN AND WITH A LIMIT OF 1 PER HOUSEHOLD.
EVEN IF YOUR THEORY IS CORRECT (IT'S NOT - THEY ARE JUST BEING CROOKS) IT IS BREACH OF CONTRACT, AND THE MINT SPECIFICALLY SAID THEY WOULD IMMEDIATELY KICK OUT EVERY AP THAT BREACHED THIS CONTRACT.
Everyone needs to call the United States Mint legal department and report that The Gold Center is spitting in their face and bragging about selling 85% of their ATB sets to private dealers (probably HSN, CSN, Coin Vault, etc), and then offering the last 15% to the public weeks later!
The Gold Center needs to be immediately removed as an AP, as stated in their legally binding contract with the Mint over these coins.
The IRS will also probably need to investigate them to make sure they pay proper taxes on the money they received from HSN for all the coins - I'm sure it was more than 10% profit. "Forensic Audit" sounds good to me!
"You are still missing the point, I suggest you go read their agreement with the Mint"
Ok, fine. I just figured as long as they have a name that is not an employee, they have a valid “sale” to the public. No requirement to have an auction, website, or make public announcements about availability or any of that sort that I was able to discern.
After all is said and done, I would be very surprised if ANY of the AP were dropped by the mint. There is WAY too much money involved and the mint could not absorb the loss of such a large distribution channel, and could not handle the additional resources needed to process the same amount of orders on a case by case basis to the public. Now an AP or two may drop out on their own, but the mint will not drop them.
I think this must be a record. This post got a total of 21 comments before the subject changed exclusively to whining about the ATB pucks.
I think you will find out that you are completely wrong about your theory.I think many other APs will develop out of this to take the place of those APs that were found to be gouging and breaching their contracts. This may take a while to do. But the US Mint will not stand for any AP to spit in their face the way these APs have. We can only hope that China or India does not become one of the new APs. I agree that the APs are needed. But many of them need to be ousted over this complete breach of contract.
I was completely surprised when I found out that there was only 11 APs. In all the years that the US Mint has been in business. They have only found 11 APs? WHAT??????. That's the whole problem right there. This is a monopoly right out of the gates. I think our new Mint director should focus on getting as many as 50 or even 100 APs. This would even the playing field and make the free market as many put it a even match for equality of a true free market. Allowing only 11 APs to monopolize these ATBs was a huge mistake to begin with. No wonder there are so many ripoff deals out there. Geeeze can't anyone else out there see this but me.
What the republicans have been saying about other stuff needs to happen with the AP progrma: REPEAL AND REPLACE.
In the mean time, every contract breaching AP must be removed and all owners banned for life from any similar association with the Mint.
Until the AP system is gotten rid of, the Mint needs to lower the requirements to become an AP to get a lot more than 11 of them.
Current requirements to be silver AP are $5,000,000 in assets and for gold it's $50,000,000 ... I think. Just lower it to $500,000 for silver and gold to get dozens of APs.
Back on topic, the price of the National Park quarters is completely PREPOSTEROUS.
I will NOT be buying or collecting any part of the series.
The only good thing I have seen come out of these or any ATBs is nothing.
If the US Mint wants 20.00 for these three pieces of junk. Then that makes them no better then the APs associated with them. Coin collecting has become a total scam. In a way it always has been over hyped. But today's over priced over hype is the the worst I have ever seen in 40 years of collecting.
the extra profit!!!!!! $$$$$$$ the mint makes goes directly to pay the record high national debt our gov borrowed for the Afghan and Iraq wars from my fellow americans voting for george w bush.
just like at xactly the time of the 2004 election the Wisconsin State Quarter says FOR WAR D
....and Obama really got things straightened out.
Man, I hate it when these blogs turn to political chatter!
Post a Comment
Subscribe to Post Comments [Atom]
<< Home