The US Mint came out with a gold version of the Mercury dime earlier this year to mark the 100 anniversary of the coin. The same will be true for both the Standing Liberty Quarter and the Walking Liberty half dollar.
There was a lot of hullabaloo about the way the mint sold the Mercury dime. It had a mintage of 125,000 pieces, but you could order up to 10. This caused a stir because it sold out in less than 45 minutes. Many consumers were frustrated with the process.
According to the Mint Website the new Gold Quarter (set to be issued September 8, 2016) will have a mintage of 100,000 and a household limit of 1! Can you say ”knee-jerk reaction”.
I suppose the mint really wants people to have a shot at getting one…but only one! I think the mint may anger just as many people by having a limit of 1 per household. Many people I know want things in quantities of 2 or 3. Not necessarily 10, but enough to buy one for each kid, or one for them and one for their spouse. You get the idea.
With the dime many people with an entrepreneurial spirit bought 10 so they could sell some off and keep the rest. It will be interesting to see what happens with those people when it comes to the Gold Quarters. Will all those people avoid buying one – “how can I make money if I just get one?”, causing it to not sell out and causing the secondary market to be weak by having demand met at the day of issue? Or will it still sell out quickly (in a matter of hours – depending on how well the US mint website can handle the load). In which case the dealers will quickly start issuing higher buy out prices to get some for customers who were unable to get one?
It will be interesting to see if this 1 per household issue starts a new trend with the mint. If it causes the coin to not sell out then the mint just hurt themselves. That would be the egalitarian way, the American way…or wait…the French way of doing things!