Given our focus on coin collecting, and exceptionally-crafted coin cases, it should be no surprise that we actively anticipated the U.S. Mint’s second annual numismatic forum of 2017.
At this year’s 2017 forum in Washington D.C., we saw 85 guests invited—30 more than the previous year’s—focused on the “Road Ahead” for the numismatic communities of the U.S. While the community was indeed addressed, many dealers found that the forum itself was more of an overview of how the U.S. Mint operates, and not so much a discussion of ideas.
Official Response to Forum of 2016
In response to suggestions made during the 2016 forum, officials of the U.S. Mint expressed that they were experimenting with early order limits—potentially going so far as to do away with early order limits entirely. As we know from our own experience as coin collectors, the limiting of orders can result in a depressed sale of coins; and ultimately far too few coins in circulation.
Having reviewed the success of their bulk sales programs—namely their latest Silver Dollar Eagle—the U.S. Mint announced that it would be introducing a sliding scale discount from three to five percent, depending on the scale of a dealer’s cumulative purchase. To dealers, this will effectively mean that bulk sales will only be discounted by three percent for the first quarter of the 2018 year. If companies order enough coins ($50,000 or more), they will then receive a four percent discount entering the second quarter. Naturally, dealers were not pleased by this news and made their discontent as plain as possible.
Soliciting Ideas from the Community
With open dialogue in mind, a number of coin industry leaders and dealers solicited ideas from the numismatic community. Universally, it was agreed that the U.S. Mint has perhaps been charging too much for its products of late, making it more difficult than necessary for dealers to complete their collections.
In an acknowledgment of the costs of production, ideas regarding the sourcing of metals for coins were raised. When asked about obtaining 100 percent sourced U.S. metals, the U.S. Mint stated that it could not confirm the origin of the precious metals used in its collection of coins. More optimistically, the U.S. Mint did state that it would explore the possibilities of free-shipping on all of its numismatic products.
Here at SAFE® Collecting Supplies, we’re proud to offer the highest quality coin holders for rare coins like the recently announced 1/10-ounce gold American Liberty, slated for release by the U.S Mint on February 8th.