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Ready, set, go silver Kennedy

Today is the big day for collectors interested in buying the four-coin silver Kennedy set for $99.95.

Sales commence at noon Eastern Time on the U.S. Mint website.

I have had a couple of emails expressing surprise that the Mint would wait until Friday before declaring a 300,000 maximum production limit.

“I still think it’s screwy the Mint decides last minute to limit production. I don’t think they’ve done that before. Your memory is probably better than mine,” said one of the emails.

There do seem to be more last minute changes this year than usual.

With a limitation of 300,000 sets the question is whether the Mint announced this number because it feared demand would be even higher.

The alternative question would be did they set a limit to try to create an impression of scarcity and thereby goose sales a little?

It is probably silly to ask this second question, because I don’t think 300,000 is a number that creates an impression of scarcity.

It is probably a number that the Mint can comfortably produce. Already it has 190,000 sets on hand ready to ship.

If this is a case of a comfortable production number, it does make the last-minute nature of the announcement a bit peculiar.

I expect the Mint knew what it could produce a month ago. If it did not – well, I don’t want to travel down that road of thought today.

I will just throw in another quote from the previously cited email in this spot.

“Is the Mint engaging in seat of the pants management here?”

It is a reasonable question given what we know.

I do not have an answer.

The order limitation for the Kennedy set is five per household, but the Mint wrote itself an out in case it wants to lower it as sales are entered by collectors.

“Initially, orders will be limited to five sets per household. The United States Mint will monitor sales and will adjust and/or remove the limit as necessary over the period the product is offered for sale.”

So are you ready to place your orders?

I now will get out of your way to focus on the issue at hand.

Buzz blogger Dave Harper is winner of the 2014 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper “Numismatic News.”

 

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2 Responses to Ready, set, go silver Kennedy

  1. hrlaser says:

    The last few replies I’ve posted in this box do not show up on the page below your essay, Dave.. please advise your Web geeks of this problem..

  2. hrlaser says:

    Hmm.. that one showed up.. I’ll try again with the one I just posted that didn’t.. quoting myself.. I ordered one set at 9:01 AM PST, and got an email receipt about half an hour later.. then I tried calling 1-800-USA-MINT about a dozen times to reach a human to find out when they’d start shipping.. I got a busy signal every time, which tells me their phones are swamped with non-internet-capable people ordering these sets.. at least I hope that’s what the constant busy signals mean.. another thing changed since the last time I placed an order with the Mint a few years ago.. they used to not hit one’s CC until the order was actually shipped.. this has changed, and now they hit one’s CC for the order total $ amount IMMEDITELY.. what this means, I have no idea.. when they will ship the set, I have no idea.. I’ll try calling them again later today or tomorrow and keep calling until I can get a human on the phone.. also, their Web site’s “live chat” was and still is unavailable.. I don’t know what that means either.. there was absolutely NO delay or lag when placing the order.. I changed my password, as they had instructed all existing customers to do, yesterday, in anticipation of ordering the JFK Silver set this morning.. I excpected the Web site to be bogged down.. it wasn’t.. not in the least.. so I’m left hanging with a lot of questions and no way to get an answer out of them until I can reach a human.. by the way, the Mint is really hauling in the profits on this set.. Silver is at about $17.25 an ounce.. the set contains four Silver Halves, or roughly 2 ounces of Silver.. around $35.00 worth or less (unless the coins are .999 Silver and not .900).. so that’s $100.00 plus shipping for $35.00 (or less) worth of Silver in fancy packaging.. $65.00 profit on each set, unless you factor in the cost of labor and the fancy packaging, and who knows what percentage of the $65.00 profit that is.. hoping for a fast sell-out.. rubbing rabbit’s foot.. aw foo, I’ll just rub the whole rabbit..

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