Well, well, well … surprise. The U.S. Mint blows another product release. Today the Mint released the 2017 Congratulations Set. It sold out in just a few minutes, all 75,000 units. Sounds like a real winner … wrong! Again the decision-makers at the Mint forgot about the average collector and made it possible for the Big Boy investors to literally purchase what appears to be the vast majority of the product.
How did this again happen? Easy, the Mint placed no limit on how many of this item one can purchase. I then go to eBay and see numerous sets of 100 of these items for sale at two to three times what the Mint sold them for. I cannot blame the original purchasers. They were given the chance to make a big profit. The people who set the Mint purchasing limits are the ones to blame. It is beyond me how the same people can continue to make the same mistake time after time. How can we trust these people to give all of their customers an equal chance to buy at least one of a new item from the Mint? I do not wish to see anyone lose their job, but enough is enough.
Just had to release my frustrations since my numerous communications with the Mint have fallen on deaf ears. I hope all of us have a great numismatic year 2017.
Large dealers snap up Congratulations Sets
The Mint does it again; when will they ever learn?
The 2017 Congratulations Set with a product limit of 75,000 sold out in several minutes. There was no household ordering limit. It doesn’t take much to figure out that the silver Eagle proof, normally minted at West Point with a “W” mintmark and now being offered in the Congratulations Set in proof from the San Francisco mint with a “S” mintmark, would be highly popular with collectors.
One can probably say that large national dealers bought hundreds, if not thousands, of the sets. They will soon be offered at double or triple or more of their issue price of $54.95.
The lack of ordering limits or high limits keeps happening over and over again at the Mint. What does it take for them to learn this cannot keep going on with issues that will be highly popular with collectors?
Here is a solution for this issue: Raise the product limit and mint another 75,000 with a household ordering limit of two. Or mint to demand within a specified ordering period.
Designs went downhill after beautiful Flowing Hair dollar
It’s a crying shame that the subject (1977 Flowing Hair Liberty dollar design) that was featured in your April 4 issue of Numismatic News was not adopted and used. It is the most beautiful design that I have seen since the Walking Liberty. As a consequence, I ordered and am very happy to now have and hold a specimen.
I’d suggest that the drab designs subsequently used contributed to the decline and lack of use of the one dollar coin. Would that we could go back and do things a different way. Too late now, the dollar coin is dead.
Now is time to test viability of dollar coin in circulation
I note with interest the popularity of the stunning Liberty design by Frank Gasparro in the current issue of Numismatic News. With the lull in the Presidential series, the time is ripe for a low mintage of this important design as a test for its possible acceptance as a new circulating standard dollar coin. The Sacagawea design could remain in yearly production as the main accepted design. A mintage of 5,000,000 would hardly make much impact on the extent of dollar coin reserves. It makes sense to have a coin design that would be popular. Do readers think it should be given a chance?
Henry T. Hettger
Convenience store yields 2017 cents, nickel, dime
Just got my first 2017 coins in change from my local 7-Eleven. Two pennies with “P” mintmark, a nickel and a dime. Will be looking for those elusive no-mintmark 2017 cents!
Satellite Beach, Fla.
Take demand into account for Full Split Bands Mercury
While I appreciate Mr. Luke’s analysis in the Viewpoint in the April 4 issue of NN, he does not consider the component of demand, which is actually more important than supply.
Remember that without demand, there is no value. So ignoring value, I would think four out of five numismatists would select owning a 1916-D FSB Mercury dime over a 1945 FSB Mercury in any Mint State grade. I certainly would. Granted, some of the demand may be driven by a lack of knowledge that the 1945 FSB is such a rare coin. If the demand hypothesis is correct, there is support for the current values.
Collector finds more than 50 2017-P cents in Maryland
In answering the question posed concerning the search for 2017-P cents in my change in the January issue, I am delighted to report that I have already collected 53 nice AU examples. They were mostly found in Morrel Park, Md., and Union Bridge, Md. My wife has also found several in New Windsor, Md.
This article was originally printed in Numismatic News. >> Subscribe today.
More Collecting Resources
• If you enjoy reading about what inspires coin designs, you’ll want to check out Fascinating Facts, Mysteries & Myths about U.S. Coins.
• Check out the newly-updated Standard Catalog of World Coins, 2001-Date that provides accurate identification, listing and pricing information for the latest coin releases.