Is the US mint killing the coin collecting hobby ?

[NHBandit]

Just wondering what everyones opinion is on this. It's been the subject of heated discussion in the Numismatic News newspaper I subscribe to and the general opinion is that the prices the mint is charging for proof sets, rolls & bags or new coins, etc. is killing their sales. The new coins are crap as well to be honest. I got a brand new unopened roll of 2010 pennies the other day and half of them are spotted and wouldn't even grade BU because of it. The golden dollars are just as bad. They look terrible half the time right out of the roll. I just bought 2 clad proof sets like I have every year for as long as I can remember and I have at least one of every proof set since 1955 but come on guys.. $31.95 plus almost 5 bucks shipping for a clad proof set is a bit much. With the state quarter program I could get brand new unopened rolls at my local bank for face value and they always had a few each time a new one came out. The new Gettysburg quarters are cool but you can't buy any at the bank. Unless you're lucky enough to get one in pocket change your only option is to buy a roll or a bag from the mint at a highly inflated price. The banks don't have any & the ones I've asked say they can't get them in rolls. Kennedy halves haven't been made for circulation in 10 years but they keep making them to sell to those of us who are trying to complete a "set". I'm seriously thinking that rather than order anything else from the mint I'd get a better "bang for the buck" to spend that money on coins I like such as seated coins or Morgan dollars. What say the rest of you ?

 

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[Zephyr]

I only get proof silver eagles. The rest don't strike me as anything collectible, and most of the commemorative coin designs are (to me) just plain, well, ugly. OTOH, if you need to get a small gift for someone's wedding or anniversary, then some of the sets come in handy.

 

[Mike in Berks]

I think the US Mint is making it very hard for the young people interested in coin collecting.
With the economy the way it is how many parents have that kind of money to puchase them.
1 example last years proof sets 56.95 "outragious" This years 67.95 lol
What i don't like is some nipchit decides to sell 5 ounce silver state park Quarter coins for $$$$$
but they stop making the SE uncirculated coins. I don't like the proof sets. I like Uncirculated SE's
I saved 2 nice sets of state quarters and ended up trading 1 set in in for 1 SE bullion coin. Better
investment to me - look at silver prices now.
I would buy a roll State Q's, save 2 of the nicest ones, and take the rest back to the bank
What do they do ......make state parks now
I'm not buying 2011 proof and uncirculated sets this year. Why should i ...... 2011's are on sale
till March, April, or May of next year. Why don't they stop the previous year on Jan. of the new year ?
I'm not happy with the Mint at all. They have 1 less customer this year ....... me.

So, ( sorry for the rant ) my answer to your title is ....... yes they are ruining it

 

[thrillathahunt]

I stopped buying from the Mint years ago for that same reason, and now it's worse! Why would anyone continue to allow themselves to get ripped off? Just wait and buy it from some sucker on ebay later on for a lot less.

 

[zerojinx]

The newest quarters are crap as well. The mint went a bit to PC on some of them. The Texas one, san antonio missions. Most texans don't even know San Antonio has more than one mission. How about something recognizable to Texans, like the Alamo, or perhaps Guadalupe Mnts, or Big Bend parks. Washington DC is going with Frederick douglas. How about all those great monuments in the city? And how about the big slap to the south. The only civil war sites are all union victories, with one dubious one in fort moultre. It seems as if the state didnt have an already famous park, then they went with some of the most obscure or PC things they could.

 

[tarpon192]

i stopped buying from the U.S. Mint many, many, years ago. they still send me junk in the mail about what is available.
it is a joke at this day and age. computers are taking over and the chance of any error coin going into circulation are very slim.
my opinion - don't buy from the U.S. Mint - get friendly with someone at your local bank.
the mint is will end up like the post office ---SOL!!!!!!!!!!!!
good luck everyone.

 

[KJW]

You are completely right the US Mint is killing the Hobby or atleast trying to. I would buy nothing but silver as cheap as you can. I cherry pick Morgan & Peace silver dollars all the time for common money and get VAMs that are worth several times worth my original investment just from doing a little research. You can not do that with the coins the US mint put out these days. Kris

 

[Bum Luck]

Maybe they're taking direction from the Post Office, that killed US stamp collecting years and years ago.

 

[Arizona Bob]

I stopped buying clad from the mint years ago. I used to buy some mint clad stuff for gifts, but don't even do that now. The only thing I buy is one silver proof set every year. I don't like the silver or gold eagles. I did buy several 1oz gold buffalos. As for getting proof sets cheaper on eBay, I don't even try... I've seen too many rip-off sets from eBay. Also, the majority (and frequency) of coin design changes don't appeal to me.

 

[zerojinx]

I stopped buying clad from the mint years ago. I used to buy some mint clad stuff for gifts, but don't even do that now. The only thing I buy is one silver proof set every year. I don't like the silver or gold eagles. I did buy several 1oz gold buffalos. As for getting proof sets cheaper on eBay, I don't even try... I've seen too many rip-off sets from eBay. Also, the majority (and frequency) of coin design changes don't appeal to me.

I thought the frequent coin design changes to be unattractive as well as a gimick. crapola. I'll stick to coins that i find on my own. at least they have some meaning to me.

 

[dirty_digger]

I am really new to coin collecting. Prolly less than two years. And have NEVER bought coin sets from the mint. Being military, the pay isnt much...and the ex wife takes most of it, lol. So buying the sweet gold coins is out. I looked into buying the proof sets and couldnt believe the price. I always thought I was missing something the rest of the coin collectors knew. I thought they were a must for coin collectors, but thought all you other collectors were crazy for buying them. Guess some of you arent so crazy ater all I stick to role hunting from my bank. I dont get the amazing coins or anything. But I get lots of wheats and a few errors. Got my first clipped coin the other day. Lots of war nickles and buffs. Then I will but together my own new coin sets to pass down to my kids from the roles too. Kinda wish I had buddies near other mints so that it would be easier to collect the mint marks on new coins. You seasoned collectors please keep the advice coming. I love it.... THANKS

 

[NHBandit]

I've been collecting for a long time, in fact my parents started a collection for me when I was born (1956) and added to it until I was old enough to take over in the late 60s. I have a complete set of Roosevelt dimes and nearly complete sets of Washington quarters, Franklin halves, walking Liberty halves & Mercury dimes that were all collected at face value from pocket change. I started collecting Morgan & Peace dollars many years ago by picking through dealer "junk silver" bags and paying $4-$7 each for all the common dates and mintmarks. The only reason I bother to buy proof sets from the mint anymore is because I have every year from 1955 to now with the exception of 66 & 67 when they didn't make any and I'm too stubborn to stop now. It's also the only way to get S mint coins anymore and I guess I'm nostalgic about the San Francisco mint coins from the early years when it was always a treat to find one in change. With silver dollars selling for $30 or so each just for melt value & dimes going for $2.50 or so it would be hard for someone just starting out to build a collection on a budget. It can be done of course but when I started I could simply spend my coins at any time if I needed to and not lose money. If you build a collection today & the price of silver takes a dive you could lose alot. It used to be just a hobby and a challenge to find dates you needed in your pocket. Now you have to worry about what the precious metals market is doing as well.