Mint issued coins for sale in Baltimore after cancelling orders. Those who got them are offered over $1000 by collectors to purchase from them.
Coinworld - Anger over the fast sellout of the Enhanced Reverse Proof 2019-S American Eagle silver dollar, which went on sale at noon ET Nov. 14 and was apparently sold out in about 18 minutes.
The coin was limited to a maximum mintage of 30,000 pieces — a tiny mintage by American Eagle silver dollar standards — and a household limit of one.
Everyone anticipated strong demand for the coin and that became clear almost instantly when interaction at the Mint online shop slowed to a crawl (a lot customers were directed to an Oops! page and a request to refresh). Several Coin World staff members tested the system to see what happened and got the same message. By the time I got to the order page, at about 18 minutes after the hour, the coin was “Currently unavailable” — Mint speak for “we’ve received enough orders to deplete the entire mintage” (full disclosure: I did not plan to buy the coin myself).
Within a few minutes of the apparent sellout, I wrote a post for our Facebook page asking for your experiences, and you delivered. Most of those posting were unable to buy one of the coins; a few were successful. Most experienced difficulties getting to the order page or putting one in their shopping cart or successfully checking out. Read more here
Those who committed to the buying groups are stuck. There's a big din Torah going on.
ReplyDeleteWhy should they be forced to give it to the buying group. You are allowed to buy one for yourself to keep and do what you want with it. They did not give anyone money upfront to buy the coins.
ReplyDeleteWhat makes it binding did the agreement stipulate that you can not purchase one for yourself?
ReplyDeleteThe buying groups are taaning that they sold the coins to someone else based on the commitment. The taanah back is that was only when it was worth the 300 dollars now that the value is much more that's not what you would have agreed too. Even if you have to pay back it should only be the 300 dollars not the coin itself
ReplyDelete