There has been a great deal of confusion surrounding the shipping for the U.S. Mint's eagerly-anticipated Ultra-High Relief (UHR) gold coin. Customers have been receiving multiple and conflicting ship dates for the coin, most of which disagree with the date provided on the Mint's Web site where customers can track their orders. The Mint has been promising me a statement all week long explaining the status of things, but the week ended without any information from them. In the absence of solid facts, I would rather offer some semi-informed speculation than leave everyone hanging all weekend.
For starters, below is the text of an email letter I have been sending all day to the dozens of people who have been inquiring about the UHR ship dates. Please note that this message was written by me and is not a U.S. Mint statement.
I have been pestering the U.S. Mint Public Affairs Director for 3 days for information about this UHR clusterfug. When he told me late last week that the date of Feb. 11th was just a rumor that seemed to have no basis in fact as far as the Mint could tell, I forwarded him my own order to prove this was really happening. After carefully asking for permission to nose into my customer file so the Mint could troubleshoot this, I haven't been able to get anything out of them since!
Every day they call me around 5:15 pm to tell me that they're sorry they don't have a statement ready yet, but they expect to have it first thing in the morning. The next morning, I call around 10:00 (after giving them a little breathing room to get the information and prepare the statement). I end up leaving 2 or 3 messages all day long trying to talk to someone with authority. Then, around 5:15 (they close at 5:30 ET) I get a very polite call delaying to the next day. We're now in Day 4 of this little charade!
IMO, I think they've got a major SNAFU on their hands. The Mint recently moved its fulfillment center from Tennessee to Indiana and MAY have changed fulfillment contractors (I am trying to get information about this, too, because it would explain a lot.) In any event, as soon as I have anything to share on this very hot issue, I'll post it to my site (and send you a note if I can.) The number of inquiries I have about this on my various email and forum addresses this week is in the hundreds, so it's befuddling a LOT of people!
The only information I can really add to this is the reassurance that this seems to be a packaging or fulfillment problem, rather than a coin-striking or planchet-availability issue, at least for those who placed their orders during the first day. At the UHR exhibit unveiling in Philadelphia, a mid-level Mint manager told a whole group of people who were standing around talking (myself included) that 29,000 UHRs had already been struck.
Furthermore, an early (and very brief) statement from the Mint indicated that the dates provided on the Web site at the time of ordering had nothing to do with actual order fulfillment dates. Here's that statement (for what it's worth):
The first [UHR] orders in showed 2/6 for delivery. However, if a customer's specific order is past the inventory batch, then their status will show the next PO date of 2/20. Customers should pay attention to their specific order, not the dates that change on the Web on a rolling basis.
What this tells me is that the Mint's order-taking Web process doesn't communicate much (if at all) with the fulfillment system. For dates to change on a rolling basis, what is probably happening is that fulfillment sends over quotas, and once that quota is filled, the date advances. In such a process, there wouldn't have to be any direct communication between order-taking and fulfillment at all. I believe this disconnect is at the root of most of the Mint's problems of this type.
I do not believe any UHR coins have been received by customers yet. My sources at the top grading services know when new coins arrive because people begin submitting them immediately. No UHRs had been submitted to either of the top 2 grading services yet as of close of business today, so don't feel as if you're missing out while others are getting their coins. Nobody is getting them yet!
If you all don't mind me venting a little, I have to say that I really hate being put in the position of having to speculate about things like this. I take great care (and a lot of pride) in the accuracy of my work, and sometimes go to extreme lengths to verify things before publishing them. Regular readers know that I am generally a very pro-Mint journalist, trying to explain the things going on behind the scenes from the Mint's perspective rather than just joining the popular tendency to simply criticize the Mint without understanding its underlying challenges. But when the Mint's press office doesn't return calls and emails asking for information about this confusing UHR situation, what else can I do but try to share what unofficial information I can glean from own experience and observations and reports from readers?
A tip to avoid further confusion: The customer service sales reps and their supervisors at the Mint's 800 number are virtually always poorly informed and out of the loop. The information they have provided in the past when U.S. Mint fulfillment problems have occurred has usually only served to increase the confusion when these inaccurate reports are relayed online. I see this happening again this time when the customer reps are telling people with low UHR order numbers that the fulfillment center is waiting for the coins to be struck. Sometimes I wonder if individual reps resort to random speculation just to get a customer off the line so their talk-time-per-customer stays low.
Please continue to share your UHR order information (such as shipping date notices and other Mint communications) and your general observations as this information is very helpful to me and everyone else trying to get a handle on this bizarre situation. You can post comments here or on the other two UHR information threads (UHR Sales Begin Strong and UHR / U.S. Mint Update). If this topic is being discussed on your favorite coin collecting forum, please post a link to this page there to inform your friends.
Thank you to everyone who is participating in this information sharing.
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Comments
Hi Susan,
I agree with you regarding the UHR shipping problems. Just received a 4th email from the mint pushing the shipping date to the 20th of Feb. although in my account it still indicates Feb 6th. I believe no one has received the UHR too. I guess we all have to wait and see what will happen.
You are also right with the change of shipping places, they sent my kennedy half dollars on the 5th i got them on the 6th and charged 4.95 for shipping, the new place is in plainfield, IN from pbgs, guess that means i will have to pay for the shipping on my UHR too, oh well they acutally shipped something out : } woohoo go shipping
Henrik and Tom, thank you for sharing your observations / confirmations. As for the extra shipping charge, you shouldn’t be charged extra when the Mint splits an order like this. They’ve split my orders before and it hasn’t resulted in extra shipping charges. If you do get charged again, please let me know.
The reason the Mint is splitting these UHR orders is to provide better customer service. Whatever is hanging up the UHR deliveries, they didn’t want it to hold up the rest of your order.
I see this order splitting as a good sign overall – it means the Mint is really trying to do their best, despite some kind of serious behind-the-scenes issues.
Of course, the other side of the coin is that if they’re going to the expense of splitting orders, it may mean that the UHR isn’t going to be shipped real soon.
Susan Headley
About.com Guide to Coins
I Do have one big quistion with you mentioning no one has gotten one yet, Grading is anyone sending ther coin in to be graded? I would really ike to know if that is the thing to do with this coin? The website has changed again today in my account back to backordered but shipping feb 6th lol
The Mint won’t charge extra shipping for split orders. But in this case I fail to see why the 29,000 struck coins shouldn’t be physically located at the Fulfillment Center. Unless they discovered a die cast error and recalled them…. or the transport trucks were hijacked by Somali pirates.
So why couldn’t they just place the UHR in the box with the other coins to ship. Better to get a partial order instead of waiting for it all but if the UHRs are in inventory then it just makes no sense. It’s more inefficiency and waste. The waste is incurred as a result of the Mint paying two delivery fees but only being able to bill us for one.
We all wouldn’t be venting so much and be so frustrated if the Mint kept its patrons better informed at times like this. They are notoriously lax in this area. Mr. Moy, I know you read Susan’s articles and the commentaries. I hope you’re listening. If the Mint’s only obligation is to produce coins for the Federal Reserve and I should simply be grateful for any numismatic product it produces and delivers then please let me know.
I’m still a fan sir. But I believe in good customer service. It’s not that hard.
Dave T
I have no plans to send my UHR in for grading. The primary reasons for getting a coin graded are to determine / enhance its value or establish authenticity. In the case of my UHR, neither value nor authenticity would be in question in the marketplace if I wanted to sell it, so why spend the money? =)
I suspect that people who are in a hurry to get their UHR graded might even suffer a little bit of bias against getting the MS-70 grade. Because the coin is a brand new type, the graders will not have seen a wide enough spectrum of specimens yet to know what the “perfect 70″ should be. As a result, grading for the first few batches of coins might be extra conservative lest the top grading services find themselves giving way too many 70s because a low bar was set.
IF I was inclined to get my UHR graded, I would wait a few months before doing so, until the graders have a solid baseline for how this coin is striking, how sharp the strikes can be, how clean the edge devices can be, etc.
Susan Headley
About.com Guide to Coins
My Track Order page today says “in stock and reserved” for the coin (which it originally said when I ordered it at 12:21 EST on 22JAN. This is the third time it has said that, with dates ranging up to 27FEB in between. My initial order confirmation email said backordered with a 28JAN ship, which is what the website said the ship date would be. Emails have slipped the backorder date to 06FEB, 17FEB, and 18FEB (the last one came on 03FEB). The backorder emails always arrive around 3AM EST.
Some speculations on my part: Since the website originally set the ship date at 28JAN and we know they had coins ready to go on the 22nd, maybe they did not have all of the other materials in stock (the new 27mm X 4mm capsules, the wood boxes, the COAs, etc.) at that time (hence the initial 6 day delay to ship). It may well be that either something still has not come in, or something was way wrong (the capsules did not fit?) and the mint is reluctant to to admit that they are holding up a 1.2Kdollar order for a 10cent part. The fact that they are putting Susan off on the explanation lends credence to the notion that is is something embarassing.
My order was in the first few thousand (my guess at 21 minutes, they averaged ~200 orders/minute in the first hour, their long term order average is 6 orders/minute) so I would expect it to have shipped by now if they had all of the materials.
The last time an order was delayed without explanation for me was with the 2006 Silver Eagle anniversary set. I ordered it on 31AUG06 (way before it was supposed to be ready). The website posted a ship date of 30OCT06 (which is what it still says). When the coins finally arrived in mid December, the packing slips and packaging labels gave me the impression that someting happened at the fullfilment center, like they started to ship but got stopped and pulled back for a few weeks (tracking numbers had been issued and then changed, and other dates and numbers made little sense). I got the feeling that there was a problem discovered with one or more of the coins (two of them were new).
In this case, since it appears that none have shipped yet, and the mint had plenty of time to examine the coins, I am guessing that the issue is with some other important aspect of the whole package. I guess if the mint told us everything, we couldn’t have any fun trying to figure out what is going on.
Many coins in the history of the mint have some sort of story behind their introduction. Once we find out what really happened here, let’s hope it is a story worth remembering.
Hi Susan,
I am also having the same problem with the UHR as everyone else, but know I will eventually receive it (maybe—lol). I am also having a bigger problem with another item. I ordered the 8-8-08 Double Prosperity Set (BA4) on Jan 3 2009. Originally it was available, but the expected shipping date kept advancing. Later the web site said it would be available on a certain date. Still later it said in stock & reserved, but my order still says “Your order request is in process”. I have called the mint to inquire if it’s still available & get an answer “they can’t give out that information & assume it is unless the order shows it was canceled or sent”. That to me, was an unsatisfactory answer. I know they may be having shipping problems, but why keep us guessing. It’s very frustrating. Just give us an good explanation. Anyway, maybe you could also inquire about the Double Prosperity Set while checking on the UHR. Thanks —Ike
Susan,
I believe that the most logical explanation is that the Mint has decided to take the risk out of selling precious metal coins. They were burned by the volatility in gold and platinum last year which taught them a lesson. The new weekly re-pricing plan is only part of the change. From now on, they will take sufficient orders at a certain price, then wait and make sure they can obtain the raw materials at a price in keeping with their margin, before creating the coins and filling any orders. We will never see 7 to 10 day delivery on precious metal coins again! Sadly, Randall
Hi folks! Has any one been to the mints web site lately? I was there day before yesterday, i saw on thee home page that the Lincoln commemorative silver dollar is available now. I checked, couldn’t find a thing about it. Which i knew it was to early anyway. So i scanned the site and came across UHR saint coin for sale. It said in red. Available for shipping some time in march. Didn’t catch the day. All you folks might want to go check that out. Unless it’s been changed again. Thought i’d let you know so you don’t keep waiting, as Feb. comes and goes.
coiny
P.S. Hi again! With all the speculation about what is going on in the mint now with shipping this coin. Maybe! There have been some error coins detected from a large batch, and mums the word. If that were the case, if it wasn’t discoverd untill they were ready for delivery. The mint had to pull the plug. There will be a back up on orders. Alot of coins to go through. Find the problem, fix it. regear for minting. As i remember, the last batch of error coins to be discoverd that no one has found one yet, was around the 40,000 mark. De jay vue all over again.
Just a thought.
coiny
Coiny…
I remember the fiasco with the 08′ AE. Once the mint discovered the error they no doubt notified the fulfillment center to halt shipping. It’s also my belief that at that time they must have set up a room where some folks began riffling through those Proofs because I’ve heard (and saw for myself) of the coins arriving with cracked coin holders or not seated in the box properly or even the inside of the box being slightly mashed, etc. Like they were in a hurry to pop the coin out of the box, flip it over to see if the print was correct for the 08′ then jam it back in the box, if it was correct. The transitional coins at this point (if detected) were then probably shipped back to the mint for recycling.
This, of course, is just a theory of what might have happened with the AE’s but could be what’s happening with the Saints as well.
Just a thought,
~ The Yankee ~
Hello Susan,
I know this is a bit off topic, but can anyone shed some light on what may be happening with the 09′ American Eagles? I know the ‘bullion’ versions are out, but still no mention of the UC or Proof versions for this year. Perhaps, if Mr. Moy is following this string, he will drop you a line & have a little input about them?
Thanks…
~The Yankee~
I too am concerned about the future of the UC & PR Eagles, especially the silver versions (because I can afford those). For 2007 & 2008 the mint issued a set called the “Annual Uncirculated Dollar Coin Set” which included an uncirculated SAE (W mint mark) along with five golden dollars. For 2009 (scheduled for release on 16MAR) they only seem to be offering the “Presidential $1 Coin Uncirculated Set (P&D)” (which contains 8 pres dollars). It looks like they might be dropping the set with the SAE this year. I am also concerned that there is no mention of any Eagle coins in the product schedule for this year, or of any product that contains them.
Perhaps we are not buying enough of the “collector” coins to make their production profitable. If we insist on paying close to bullion prices for collector coins (they really do cost a lot more to produce than their bullion counterparts, specially prepared blanks, extra packaging, way fewer coins per die set, lower production runs, way more labor), then the only thing we will be offered will be bullion coins. While I don’t think the mint should make an extrordinary profit on its collector products, I realize that the only reason that congress (which, if you are a student of proper english, you know as the opposite of progress) lets them make such coins is because they do make a profit big enough to justify the effort.
Personally, I think it was a mistake to outsource the fulfillment center operations to private enterprise. I think this adds back to the customer any cost savings to the mint in the end and adds a barrier between the mint and the public that has clearly caused some issues over the past few years. I just don’t think the fulfillment model works for the mint, I think they should have full control all the way to delivery to the end customer.
end rant
Susan, you mentioned in your Feb. 6th blog a “low order number”. How can you tell what a low order number is for the UHR? I placed on order on the 6th like most of us and have the “in stock and reserved” status, but can’t tell if I have a low order number or not.
Hi Yankee! Yeah, i remember that too. I got some mashed up boxes with cracked plastic holders my self. No biggy since the coins looked fine, no damaged coins. Some didn’t fit inside the boxes properly. Some of the plastic holders cracked open where my coins fell out of the protective holders. Again no damaged coins. I taped the plastic back together. That was through the transitional variety error. I believe i spoke with them [the mint] about the quality control. Said i was very surprised about that. Since then things have gotten better. So it had to be dureing that period there was a big rush to get things straight.
coiny
I was sent a tracking number for my UHR on Friday but the tracking number doesn’t work.
I just got off the phone with the Mint and was told I don’t have a tracking number…Yes I do I replied. She looked my order up and said “wow” you “aint” lying. Ummm…whey would I lie I replied.
She said my order will more than likely go out today since I had a tracking number.
I ordered at about 12:50 on opening day BUT I canceled the book. I believe this has put me much further up the list than I would have been otherwise (I actually canceled the book by accident.)
While everyone kept receiving emails changing the ship date mine never changed. It was always Feb 6th.
Well, that’s dissapointing (not for you, for you it’s good news). I placed my order @ 12:21 on 22JAN and am still in a holding pattern. Keep us all posted as to your progress and receipt. Since all orders are supposed to get upgraded shipping, if it really ships today, you should get it by Thursday at the latest.
If your tracking number is for USPS, it will not show anything until the package actually hits a major hub after it ships. The post office does not tract with the same detail that UPS or FedEx do. The sure way to confirm shipment is to see if they have charged your credit card, that should not happen until actual shipment (or at least not until the day of shipment).
My Track Order page still says “in stock and reserved” for the coin and 06FEB expected ship for the book. No new emails.
Within literally the last two minutes, my Track Order page changed. It now says “in stock and reserved” for the book as well as for the coin. This is the first time it has said that for the book. Maybe today is the day things start to happen.
Ok my coin was in stock and reserved with a shipping date of feb 21st, this morning i go check and now the coin is backordered and the book in stock and reserved, what the heck, that website is definitly messed up. All last week it was in stock and reserved i just don’t get it. and the waiting continues lol
We have real activity! My credit card just showed up with a pending charge for the coin and shipping. The entry is so new that it does not have any information yet, just the amount. Looks like shipping has actually, finally, begun!
Ok i guess theres no point in going to there website and than go to your account, newest update this afternoon unit backordered. Expected to ship on 02/06/2009.
2009 ULTRA HIGH RELIEF and now they have changed the book to this date GOLD COIN BOOK 1 unit backordered. Expected to ship on 02/24/2009.
Go to coinnetwork.com to see pics of UHR’s that have already shipped.
And the story continues,after the web site changed 3 times yesterday i go in this morning and to my amazement Both the coin and the book IN STOCK AND RESERVED woohooo still wonder why the site changes so many times : { congrats to all those who will be getting there coins today and its good to see there finally shipping some : }
The coins (LINCOLN SILVER, etc.)we ordered after the high relief if we get them delivered to us first,I would say mint problem. This is very strange, the time (1 year +)the mint has spent of building hype, is this another play or did the mint loose a puzzle piece.Time will tell.
The US Mint Track feature is now “Temporarily unavailable”
Max350
The mint is now hiding account information. Temporarily they say?
My order went in at 12:09 and it showed in stock and reserved immediately. Was waiting on the book. Supposed 2-06. Showed min stock and reserved on 2-07.
Still waiting. CC was contacted and funds put on hold but went past the cc holding time and came back off.
I ordered my UHR on 22 Jan @ about 12:45. I received multiple emails updating the ship date to 28 Jan, 6 Feb and 18 Feb while the website dates were repeatedly changed. Like most – I am extremely frustrated with the inability of the mint to give accurate information on delivery.
I know of NO BUSINESS in the USA that could survive if they could not deliver a product with some degree of accuracy. It’s ridiculous. I believe there is some “manipulation” going on given the spot gold price fluctuations.
Why??? Because on Wednesday last week (11 Feb) I received a letter from the US MINT stating that there was a problem with my order and it could not be processed because my billing address and my credit card billing address did not match. This was IMPOSSIBLE because I just purchased an American Eagle gold coin on 22 Dec 08 using the same credit card and address. I called the US MINT immediately because I was FURIOUS. I told them I felt there was something “fishy” going on. They immediately told me that my information was updated and I was “good to go”. I told them something “fishy” seemed to be going on but the person I was speaking to acted as though she didn’t know what I was talking about. I explained that I just ordered a coin a month ago and it was impossible that my information was not correct. My order was “straightened out” and within a few days, I noticed that my credit card showed a “pending” payment to the US MINT for the original price of the UHR coin $1189.00 (I think). As of today – that “pending” payment is no longer showing up on my Credit Card account. WHAT GIVES??????
I told the US MINT that as a “new” customer — I’m about fed up with all the BULL$H*T and will most likely NOT order any more coins. The only reason I can see for this is — they are trying to get people to cancel their orders at the original price so that they will have to reorder at a higher price if they really want the coins since they know that he spot price for gold is going up day by day.
Since I’m new to gold investing – this is all speculation based on my experience in the last 2 months. If I’m way off base — I’m curious o know why. I have the facts and the proof…..and having invested in the stock market for over 15 years— EVERYTHING is manipulated.
I will be calling the US MINT again tomorrow to complain once again because this is BS.
RPW, my situation is EXACTLY as yours nearly word for word / moment for moment. Will be calling them today and demanding to speak to someone who is really in charge. This is utterly ridiculous!!! Totally unacceptable.
PS: I have an order for over 8 DCAM Eagles from a month ago. Reserved and ready the USM site said weeks ago. Still waiting for the product, though they sent me the BS address letter for it (as they did with the UHR).
I had the same experience as both above, including the BS address letter that arrived after they had already shipped my presidential proof set and charged my card. The Mint is such a joke. I cannot even imagine some people actually want the Govt the run the healthcare system in this country. Think about it people! I don’t want to receive someone’s mistakenly-amputated foot in the mail, I just want my UHR!!!
Called the mint yesterday and again tonight. My order was supposed to ship today 2/20/09. It did not. They told me that it was scheduled to go out today but thats all they knew. They said my shipping date has not changed yet but obviously – it would not go out today. More excuses. I wanted to know why I did not get any email updating me. No answer could be given. Frankly – I’m fed up and will not order any more coins from the mint. I will not cancel this order though because I believe thats what they want me to do. Got the address for the PR person (but I’m sure it will be as much a waste of time as it is talking to the customer service people. I suppose when they are all out of a job (due to lack of future sales from people like me) they can look back and contemplate why. Maybe then they will see that they are part of the problem – not part of the solution. I’ll wait for my coin and post when it finally arrives. Best of luck to all. BTW the address for those who wish to write is: US MINT OFFICE OF PUBLIC AFFAIRS, 801 Nineth Street NW, Washington DC 20220-0001. Not sure how accurate that info is but that what they gave me.
As of today, 2-25-09, mint website says UHR not available. go figure.
The Great Coin Kerfuffle!
A Mint customer service lady called today and said that my UH1 “should” ship on or before Friday. At this point I have moved passed anticipation to a weary skepticism. I jumped right on the bandwagon at 12:07 and I have not felt close to closing the deal since.
Hopefully, this is now a real break in the case.
Mark, the unavailable status was only temporary and probably a result of the mint changing the price to reflect the increase in gold spot prices last week. The only problem is that it is stated mint policy that the prices will be set on Wednesday and implemented on Thursday at 10:00 AM Eastern Time. Someone improperly changed the gold prices on Wednesday right after the new prices had been set. I was honestly tempted to order a First Spouse coin just so I could raise a stink with the mint for violating another of its written policies.
Steve, I like you, still have hope. I am at 12:21 but both of our orders should ship the same day if they are shipping at any sort of realistic pace (by which I mean not at some artificially slow pace). They really ought to be easily able to get all of the first day’s out by EOB tomorrow.
Again … I have contacted the US MINT to complain (even though I know it ultimately does no good). Nothing has changed. Received an email on 25 Feb. I included i here for those who did not get it.
Dear Customer,
The United States Mint is pleased to announce that we will resume shipping of the 2009 Ultra High Relief Double Eagle Gold Coin during the week of February 22, 2009. However, because of production problems with the Companion Book, you may receive only the COIN and presentation box at this time. If you are a customer who receives the COIN without the Companion Book, we will ship the Companion Book to you, at no extra charge, when it becomes available.
If you ordered your 2009 Ultra High Relief Double Eagle Gold Coin between January 22, 2009, and February 9, 2009, you are under the 30-day return policy. If you ordered on or after February 10, 2009, you are under the seven-day return policy. The return timeframe for the 2009 Ultra High Relief Double Eagle Gold COIN and presentation box will begin on the date you receive it. If you are dissatisfied for any reason with your 2009 Ultra High Relief Double Eagle Gold COIN, you may send it back to the United States Mint within the applicable return period for a full refund or replacement. If you return your COIN for any reason prior to receiving the Companion Book, we will cancel your shipment of the Companion Book. If you receive the Companion Book within the applicable return period, you must return both for a full refund.
If your Companion Book is shipped separately, the exchange timeframe for it also will begin on the date you receive it and under the same return policy – 30 days or seven days – as applicable. We will make no refunds for the Companion Book; we will make exchanges for damages only.
Customers’ orders will be shipped on a first-come, first-served basis. You will be notified by email when your order has shipped. If you do not receive the Companion Book with your COIN, you will receive a second e-mail notification when we ship the Companion Book.
If you ordered the 2009 Ultra High Relief Double Eagle Gold Coin between January 22 and February 23, 2009, we expect to ship it by April 24, 2009.
If you place your order for the 2009 Ultra High Relief Double Eagle Gold Coin on or after February 24 (and up until March 24, 2009), we expect to ship it by May 24, 2009.
Thank you for your interest in United States Mint products.
——
My take on this — OK so now my at a minimum — my coin should ship. WRONG. Nothing has changed. I call the mint daily to complain because I still haven’t got a confirmation on shipping. Why??? My guess — more propaganda. The email was sent to just smooth over a bad situation and try to comfort people who are getting increasingly uneasy with the mint. I wonder what will be the excuse when I place another order at the end of the year for another UHR coin when gold prices are back down to 600.00 oz.
People need to call the mint and complain. Believe me – if you don’t complain – nothing will change. If you do – it’s likely that nothing will change but at least you expressed you frustration and your point is made. Then if they complain about coin sales – they have no one to blame except their own inefficient processes.
CAN YOU BELIEVE IT.
I received a shipping notice today.
Apparently my UHR Coin has shipped. Got a Tracking number and all.
Only the coin though….not the book.
Guess the complaining may have done “some” good.
Weird thing though is my CC was not charged yet. Maybe tomorrow.
Guess I shouldn’t count my chickens yet!!!
Go my UHR coin on 5 Mar at 0900. I contemplated having i graded but after reading different opinions on the internet, I decided it was a scam like most things in life now days. It’s encapsulated so why get it graded? So I opened the box in anticipation of what I was about to see.
I was happy. This is now my second gold coin and I am quickly becoming addicted. But I’m getting confused and worried. The card that accompanied the coin says it is a “Business Strike”. I had no idea what that meant being a novice so I looked it up. I’m sill confused. Can someone explain this in general terms? Is a Business strike a lesser quality coin than a Proof coin and does it really matter? Also, are all UHR coins graded as “Business Strike” from the US Mint? If no , why?
RPW,
“Business strike” is the technical term for a normal circulation strike.
The Mint is misusing the term in describing the UHR because the UHR certainly isn’t business as usual. The prime characteristic of a business strike coin is that it is quickly struck under general minting conditions for the purpose of general circulation. In other words, the general business of the Mint.
However, the Mint couldn’t use the term “Uncirculated” for the UHR because it chose to corrupt the meaning of that term a few years ago when it started adding the so-called “satin finish” or “burnishing” to the annual Uncirculated coin sets without renaming them something more appropriate.
When the Mint uses the term “Uncirculated” nowadays to describe one of their numismatic (coin collector focused) product offerings, it means that the coin has the burnished finish. Since the UHR isn’t supposed to have any special kind of finish, the Mint probably figured that “business strike” was the best term to use.
What the Mint should have done was (a) never started calling the burnished/satin finish coins “Uncirculated”; and (b) used a new term such as Specimen or maybe even Piedfort to describe the UHR. Even calling it a Proof wouldn’t have been out of line, since the UHRs are multiple-struck on specially-prepared blanks. (A Piedfort is a coin of double thickness than normal. It’s not an exact fit to describe the UHR but it’s a lot better than “Business Strike!”
PCGS has chosen to grade the UHR coins as MS (Mint State) rather than as Proof.
Susan Headley
About.com Guide to Coins
I too, am disappointed at the mint for referring to the UHR as a “Business Strike” coin. It is a proof coin. I think they shied away from calling it proof because they decided that the public was too stupid to understand that a proof coin did not have to have shiny, mirror finishes. Proof is not a look, it is a method. All they had to do to get things right was explain that, but they have had an issue lately about being open and truthful. What bothers me most is that by using the term business strike, the grading services are calling the coin Mint State (MSXX) instead of Proof (PFXX or PRXX). Proof coins have been made with many different looks over the years (including the “reverse” proofs, started with the Royal Mint’s Silver Britannias) and the 2009 UHR proof is made with the same look as the 1907 URH proof (which PGCS also has an issue with calling proof, I have only seen two). Perhaps the problem is that the so-called FAQs on the mint order website is completely wrong when it says that proof refers the finish of a coin, that proof means frosted devices on mirror fields. The mint really needs to get a few numismatists on staff.
Susan,
Thanks for the info. In your opinion, should I be at all concerned with the grading given by the mint and does the fact that I chose not to have the UHR coin graded by the PCGS present any potential problems in the future regarding the value of my coin?
Thanks for your input.