A lot of you bought these coins from 2 months ago. It seems 90% of the coins have been delivered and so about 10% are unshipped and backordered. Please cancel these orders since my buyer is no longer taking them. It’s these coins to clarify – https://catalog.usmint.gov/american-eagle-2021-one-ounce-silver-proof-coin-21EMN.html
Just to clarify, no one expected the on sale to immediately go to BACKORDER status. Even so, back ordered coins usually ship earlier than expected. However it’s been 2 months and we still don’t know when the mint is going to ship these out. Plus, since 90% of the coins have shipped out already, it doesn’t make sense to keep orders for the remaining 10%. Usually coin buyers need the coins graded within 30 days to get a “first strike” designation and we are way past that date now. Also notice how the uncirculated coins have shipped before these coins shipped, so that also didn’t make any sense.
You can do a live chat (preferred), call in or try emailing USMint-support@usmcatalog.com to cancel your order
I’ve also emailed out the folks who locked in, so there’s no excuse that you didn’t see this message to cancel the coins.
With all that said, the coins do still go for ~$130 on Ebay as of this post, so you can sell it there if you want. Pinehurst is also taking them at $90 per coin.
Staying tuned for the 8/4 and 8/10 coins
Is there a time that live chat becomes available? I’ve emailed them to cancel and haven’t heard back. I also see that my order has changed to processing. Please advise.
Chat becomes available off and on. Calling works as well, especially after hours.
I’ve called several times and the line is always a busy dial tone. I keep checking chat too. What should I do if they ship anyways, despite me emailing, calling, and checking chat?
Sell the coins to Pinehurst
What is the meaning of following the instructions to ‘lock in the deal’ and then being told ‘locking in is not really locking in’ because cancel your order now.
A. No one knew all orders would immediately go to backorder.
B. It’s been 2 months and the coins haven’t shipped yet. Should the buyer wait around for a year? The line has to be drawn somewhere.
C. And who are you even? I have no record of you locking in the coins with me. Imagine being this angry at the world for something that doesn’t even affect you.
1. I think it was made clear in your communications and blog that it would be back orders. Suggestion. Make it clear in the conditions if there’s a maximum amount of time you will wait till the offer is voided. My suspicion is, if it would have been a valuable resell, your buyer would have waited as long as it would take for the US Mint to ship. In this case (suspicion only) the buyer saw his losses mounting.
2. I am not angry and definitely not at the world. Disappointed maybe. I locked in for 3 sets of 3. When posting I use a different email address for privacy reasons (not that it will make a difference at this point but I can email you my US Mint order #s separately).
3. Change the wording/conditions of the deal if ‘lock in’ doesn’t really mean ‘locked in’.
4. I am well aware the buyer/you are in the speculation business.
a. The US Mint publishes the circulation amount of the coins and your buyer makes an educated guess (I assume your buyer is knowledgeable in the coin trade) on how well these will do in the resell market.
b. Reputation. If you’re in the speculation business you hopefully win a lot and lose a few (like this one). There is risk associated. This time around the buyer looked at his possible losses and decided to opt out. I guess he can do that at will but reputation takes a hit.
c. Risk and Reputation. As much as your buyer and you take risk so do I. When the coins arrive and ship them to you prior to payment it is a considerable risk. Trust is part of reputation. And it takes a hit (albeit a small hit) when something like this happens.
c. Commitment. If commit to sell to you I will uphold my end of the deal because I value my integrity. I personally do not shop around for higher offers once I committed to a buyer. Am I wrong to expect the same of my buyer.
5. I value my time. Buying from the US Mint and their crappy website takes a considerable amount of time, so does communicating with them if needed, tracking, shipping, purchases, payments etc. It makes it all worth if deals are executed as promised.
Again, not angry but please update the conditions and wording when asking to commit to a deal.
Let’s say you wanted to buy a PS5 for XMAS. You then buy it from Best Buy but it says backordered until January. What do you do? Do you immediately cancel or wait to see if they ship early. Then 2 months later, come December, they haven’t shipped it out yet. At that point, you’d cancel and make other arrangements, right? This is the exact situation. The buyer and I and everyone else expected these coins to have shipped out by now. We can’t keep waiting anymore.
This is the first time the MINT has taken this long to ship out a coin. Even the uncirculated ones took a few weeks to ship out, but my buyer didn’t back out of that deal. He’s still honoring that deal. Sure it sucks that you had to waste time cancelling the order, and if you don’t want to buy any more coins for me, that’s perfectly fine. There are lots of other buyers out there that will gladly take your business.
Sorry but your comparing apple and oranges. PS5 isn’t bought for speculative reasons. Unlike the coins.
No, if I tell you to go buy something for me at the store, I expect it when you come home. If you come home empty handed and say, “Well it’s backordered,” then all bets are off. The reasoning for me wanting the item is moot.
It was known when these coins were released/ordered US Mint had it on back order. So why wait for 1 week, 2 weeks, 1 month, 2 months?
But I get it. It’s moot now, water under the bridge.
So, using your logic…
I have CC and O Morgan’s locked in at a very favorable price to a buyer… Even though now I could get three times that amount or maybe even more.
Since locked in does not really mean locked in in your world, should I pull the plug with my original buyer and go with other buyers who are willing to pay me four times the amount I agreed to with my original buyer?
After all, I did not know that I was selling at such a low price and did not realize how popular these would be.
Again I’m using your logic.
What is the name and order number that you locked these coins in with me?
Any interest in the upcoming gold coin?
How do you cancel? Not seeing an option in the order.
I’ve updated the post on ways to cancel
You’re acting as if you/your buyer don’t know that over 80% of the coins did not yet leave the Mint warehouse. Maybe you can explain your incentive or even the reason why you write a provable untruth in your post?
🤔
I like how you pull the 80% out of your ass and assume that’s the truth when I have hard facts and know how many coins were locked in and exactly how many coins my buyer have IN HAND ALREADY. Ask yourself who the MINT prioritized in shipments first.
Unfortunately, this is misleading at best. Only about 15% have shipped. The vast majority of these coins have yet to be delivered.
Yes, YOU would know how many coins have been delivered to my buyer but not me. And all those Ebay listings are fake too huh
I can’t say anything about your buyer. I CAN say, definitively I may add, that the vast majority of the coins have yet to ship from the mint. What’s being traded now on ebay is the 15%. This is all verifiable, which makes your lie even more brazen, and brings your integrity into question.
Nuff said.
You’re acting like I want people to cancel the coins. I have a financial incentive for the orders to be kept.
You’re acting as if you/your buyer don’t know that over 80% of the coins did not yet leave the Mint warehouse. Maybe you can explain your incentive or even the reason why you write a provable untruth in your post?
🤔
Maybe you should tell your buyer to not try and do business with you and your readers in the future.
Who are you really protecting?
Who’s back do you have?
Those are definitely a keeper; price coming soon
Vinh, even if your buyer bought every coin available to the Authorized Bulk Purchase Program, that wouldn’t be close to 90%. How in the world would your buyer know the whereabouts of 180k coins?
And John, how could you verify that only 30k coins are on the market right now?
John didn’t even lock in the coin for me, so I don’t know why he’s so butt hurt. He doesn’t have any facts on how many coins are out in the wild. Spoiler alert – he’s actually PFS.
I’m wondering about the 8/3 and 8/10 coins, too. Subscribed.
Those are definitely a keeper; price coming soon
Are orders that haven’t shipped from 8/3 and 8/10 still good to keep?
Those are definitely a keeper; price coming soon