From the October 2nd Numismatic e-newsletter: Should the U.S. Mint quit producing the First Day Coin Covers? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
As far as I’m concerned, the U.S. Mint can quit producing covers because they charge way too much for them. If they were half the price, I’d buy them. But at $20 a pop, no way. I usually wait and look for them in the secondary market when a dealer is selling them for a lot less. When I can get one at a reasonable price, fine. If not, I can live without them.
When will the Mint learn not to overprice their items? We’d all buy more if they wouldn’t gouge with their prices.
I have bought three each of the First Day Covers for quite a few years now, but I have reduced it to just one (just in case). The numismatic value seems to have always been stale or less than cost for many years. To the point that I just put them into the company’s Christmas Secret Santa. The recipient has enjoyed them, but I think that the cost to the mint would be better spent or not spent at all. Quit production now!
I say keep them coming. I think they are neat and affordable. You get one example of each mint’s coin.
They bring together many of the elements of collecting and numismatics that I enjoy: art, trade, history, biography and geography. Plus their production schedule makes them, I believe, the closet thing we as collectors have to a true First Day/Early Release/Strike program.
Thanks for asking.
The Mint is a business that extracts profit from those who believe they will profit in the future. They should sell whatever the public will buy.