The Lincoln Commemorative Dollar was expected to be a quick sellout, according to most coin market observers (myself included). So what happened? Why didn't this coin sell out quickly? The answer provides an interesting look into how the coin market operates.
Before the analysis, I'd like to report the total Lincoln Commemorative sales figures, as of 11:59 pm on Monday, Feb. 16, 2009. The Proof version has sold 116,558 coins The Uncirculated total is 61,164, for combined sales of 177,722 units. The total maximum mintage is 500,000 coins (including both Proof and Uncirculated types) of which 50,000 Proof coins are reserved for a special set later this year. (The special set will consist of the Lincoln Commemorative and the four 2009 Proof Lincoln Cent designs struck in 95% copper.)
With a maximum mintage of 500k, the 227,722 coins spoken for above leaves more than half of the issue unsold at the moment. How did it happen that a commemorative that was expected to sell out within hours, sold less than half the mintage?
Lincoln Commemorative Coin Economics
The first thing that went wrong for the Lincoln Commemorative Silver Dollar was the continued slide the economy is taking. In the two weeks prior to the on-sale date for the coin, which was Feb. 12, the news from the U.S. economy got worse and worse. One major company after another reported large job cuts. Congress proposed an economic stimulus package that was widely seen as being full of pork and short on actual stimulus. Confidence in the economy kept sliding downward day after day. The financial news was one grim story after another.
The thing that makes or breaks the success of a commemorative coin's initial release is demand. Specifically, collector demand. However, collector demand can be created by the marketing efforts of certain dealers called "market makers". The term "market maker" can be loosely applied to any dealer who sells a great quantity of any particular type of coin, such as the U.S. Mint's Authorized Purchasers who resell the generic Silver Eagles in great quantities. In the case of the commemoratives, the market makers are typically TV shopping show dealers who decide to acquire as many coins from a given release as they can, and then promote them heavily through their TV marketing channels.
These key market makers have their own coin-acquisition networks comprised of people who earn a fee to order coins on the dealer's behalf when the coin has an issue limit. I describe this process more fully in my article about how coin dealers get around the issue limits set by the U.S. Mint.
Market Makers Eye the Lincoln Commemorative
As of Jan. 28, the word was that two key market makers were going to "make a play" for the Lincoln Commemorative. Both of these dealers had independently decided to buy large numbers of the Lincoln Commemorative, since they felt the coin would be very popular with the general public given the pro-Lincoln, optimistic political climate in the U.S. at the time. (One of these two dealers is my source for this information, but he requested anonymity due to the fact that he doesn't want to suffer repercussions for revealing insider information about the coin market.)
My source felt that he could sell the Proof coins for a minimum of $119 each by creating a value-added 8 to 16 page booklet about Lincoln's life to sell with the coin. He planned to sell this coin-and-booklet set during his coin-related TV shopping show slots. Depending on the buzz and interest, he felt that prices could rise as high as $299 for the coin by the 2009 holiday buying season.
This dealer even boasted that much of his advertising would be free, since so many media outlets and other marketers would be hyping stuff to commemorate Lincoln's 200th birth anniversary. All he had to do was show buyers that his coin was 90% silver, limited in number, and highly relevant (in demand) as a collectible with high up-side potential.
Pleading With the U.S. Mint to Tighten the Issue Limit
When I heard the plans of these shopping show dealers, I realized that they could do a pretty effective job of cornering the market if they really wanted to, especially if a couple more of their peers jumped into the fray. My source bragged about how he had as many as 1,000 buyers who could buy 100 coins each, (which was the issue limit imposed by the U.S. Mint for the Lincoln Commemorative.)
This coin dealer also said that hundreds of small dealers would also come to him to dump their 69s at $10 to $15 over issue price. (69s in this case refer to coins that will grade Proof-69 by a major grading service. Since virtually all newly-released U.S. Mint Proofs get this grade, the real demand among Registry Set collectors and other deep-pocketed buyers is in the coins that get a 70 grade, the highest grade on the coin grading scale.)
If several large dealers all decided to go after the Lincoln Commemorative, we'd have a situation similar to the 2005 Marine Corps Commemorative, or the Buffalo Silver Dollar, where most of the coins end up in dealer hands, and the average collector is stuck paying $200 + to own the coin. I felt that the 100 coin limit would serve only to help the big guys, but didn't do anything positive for the little guy who only wanted to buy 2 or 3 coins for himself and his family.
I pleaded with Mint officials, everyone from the product managers in the Marketing division, all the way to U.S. Mint Director Ed Moy himself, begging them to reconsider this unnecessarily high issue limit. Why not reset it to 10 coins for the first week, so everyone has a chance to get one before the dealers swoop in and suck them all up? The coin is certain to be a sellout, I reasoned, given the political climate and reverence for Lincoln.
Almost everyone at the Mint listened politely, although I think I scared the dickens out of this one young woman from Marketing, who seemed taken aback by my fervor and assertive sincerity. Even Ed Moy said he would give serious consideration to my pleas. But I learned something during my proselytizing: Mint officials are sort of stuck in a Catch-22 situation with these commemorative coin issue limits, which have always been set at 100 coins per household when sales begin.
The Commemorative Coin Catch-22
The purpose of commemorative coins is to raise money for the causes that the coin celebrates. In the case of the Lincoln Commemorative, the beneficiary is to be the Abraham Lincoln Bicentennial Commission (ALBC). $10 from the sale of each coin goes to this cause.
If the Mint were to decide to lower the issue limit to 10 coins per household, this could cost the ALBC a lot of money. They stand to receive up to $5 million from the sale of the Lincoln Commemorative Dollar. If the Mint leaves the issue limit at 100 coins, the coin dealers are more likely to try to make a play for the coins in large numbers. However, if the limit is lowered to 10 coins, it makes it much harder for the dealers to acquire vast numbers of them, making it less likely that they will make a big play at all - at the expense of the ALBC.
So, there's the Catch-22 - if the issue limit is 100, the dealers are more likely to pounce (and thereby deprive the small collector). But if the Mint lowers the issue limit, fewer coins will probably be sold, because nobody will "make a market" for the coins. It is a known fact that the majority of people who ultimately buy commemorative coins end up buying them on the secondary market from coin dealers.
The solution to this conundrum would seemingly be to get congress to set lower issue limits in the legislation that creates the coin. Keep in mind, though, that these commemorative coin bills are often proposed by congressmen who have the beneficiaries in their own district or state. This doesn't exactly motivate them to do anything that might lessen the financial windfall for their pet charities. The bottom line is that the situation probably isn't going to change any time soon.
Probably the best action that could be taken on everyone's behalf is that the U.S. Mint get its Web site code up to 21st century standards so that everyone who tries to order during the first few minutes a coin goes on sale can do so, rather than being locked out unless they live in certain parts of the country.
A Proposal for Future Commemorative Coin Sales
I think the U.S. Mint should create a system where any coin that sells out in the first 24 hours gets thrown into a lottery situation where each attempt to purchase 1 coin gets 1 chance at a coin. (The guy who buys 100 gets 100 separate entries for 1 coin each.) This way, you avoid the first-hour-of-sale Web site gridlock, since everyone has 24 hours place their order. And you don't cost the beneficiary any potential loss of income, since the lottery only goes into play if demand exceeds supply (in which case they're getting their full amount of money anyway.)
The Mint would still have to impose an order limit to prevent dealers from trying to buy all 500,000 coins in one order, hoping to get 50% of them in the lottery, but I think a system like this is fair to everyone involved. The one rule I'd like to see is that folks be irrevocably committed to their purchase when they order, to prevent people from placing dibs on 100 coins to "make sure" they get the 3 they want.
Why the Lincoln Commemorative Failed to Sell Out Right Away
As described above, the market makers for the Lincoln Commemorative were ready to make a play on Jan. 28. By Feb. 5th, though, they were having second thoughts. The news on the economy was constantly bad. President Obama didn't get his stimulus package through quickly the way he wanted. Confidence was waning in the stock market as major firms cut huge numbers of jobs or went under completely. The dealer who is my source for this information decided that he didn't want to tie up his money in this bad economy for several months until the coins were shipped, slabbed, and then sold, when he wasn't even sure people could afford to buy them anymore.
Another concern he had, although he said that it, alone, wouldn't have stopped him from making the play, was that the reverse of the coin sucks. He felt that with so many other things going against the coin, one of the few important things that might have helped redeem it would be that people love the design. The obverse is beautiful, a striking, deep portrait with a lot of character. But the reverse? Half his TV shopping show audience probably couldn't even read the inscription!
And so, what ultimately caused the Lincoln Commemorative Dollar to fail its expected sellout was the economy and lack of dealer confidence in the coin itself.
I still believe this coin is a long-term winner. If it doesn't sell very many more specimens, it might go up in value because of scarcity. But even if it does sell out, reverence for Lincoln will remain strong in years to come. When the economy gets better, I can already picture the TV shopping show hawkers selling "Lincoln Commemorative Sets" containing a dealer-created plastic case holding all four 2009 pennies, the Lincoln Commemorative Dollar, and maybe even the Lincoln Presidential Dollar. And don't forget the free 16-page booklet that will come with it! ;)
Comments
I found this article very interesting and helpful. However, I take issue with one small editorial comment that really has nothing to do with coins and was unnecessary. You said: “Congress proposed an economic stimulus package that was widely seen as being full of pork and short on actual stimulus.” Sure many people would have preferred fewer tax cuts and more spending, but actually only a rather small and politically insignificant minority of people see the stimulus package as full of pork — check the poll numbers! Most Americans believe it’s much more good than bad and is an essential first step in helping the economy to recover. As one who likes to sell coins, I certainly hope and believe that.
Western Sage, thank you for pointing out the editorial comment you disagree with. I try very hard to keep my political views out of my coverage, since they are irrelevant to the topic I cover, and I actually reworded this section several times before finally being satisfied with it.
I am trying to convey the sense of the economy without being judgmental about it, but I suspect I have failed when the very first reader comment I get (within an hour of publishing this post) points out the one thing I had so much trouble phrasing!
I would appreciate hearing other readers’ views on this. Does this paragraph come across as being less than objective?
Thanks,
Susan
Sue! The truth hurts sometimes. Are you sure that wasn’t a congressman that wrote the rebuttle??? What is wrong with the truth, if a major paper wrote the same thing. What would the reader response be. The same? No,keep up the good work, it’s fine as far as i can tell. Way to much fat with this pork.
coiny
Please. let’s stop the continual political bickering and talk about coins here.
I must say that I was very disappointed in just learning that the Lincoln coin was issued. I have been on the mint’s mailing list for years and I did not get any notice of the release date. Don’t know if it was just me, but I think the Mint messed this up.
I didn’t think your comment about pork was out of line at all. As witnessed on this mornings “Today Show” the so called stimulus is filled with pet projects with no correlation to stimulus. Matter of fact, they had a Harvard economics professor on that basically said this package will do little if anything to help the economy.
In any case, thanks for letting the little guy understand what we are competing with. I had no idea how complex the problem was.
Greed is the word no matter what business your in. Coin dealers are no different. We the buyer, really have control. I have many hobbies and coins is one of them. I enjoy all of them. When it come to spending my money, if any item is too high, I won’t buy it no matter how bad I want it. So dealers, price your coin whatever price you want to, put I control my money.
Susan, this is a coin forum, not a social or political sciences discussion. The fact that you thought and re-thought the right way to say how reaction to an important government action was affecting the coin market is good enough for me. Keep doing things just the way you have been. If we start censoring ourselves too much, we will never say anything worth thinking about.
With nearly half of the Lincoln dollars sold in the first week, it still has a chance for a sellout, especially if the economy stabilizes. Sales always slow after the initial blast, but due to its early introduction, the Lincolns have a lot of time to take up the slack.
You mentioned that the mint is holding 50,000 proofs for the $1.04 set, are they holding any for the American Legacy Collection or has that device been cancelled? I skipped the 2008 ALC because with only one silver dollar, the markup had become too high for me to pay (that, coupled that the ALC is often available on the secondary market for less than the original mint price, again due to the high markup).
I too, was a little dissapointed with the “medal-like” reverse of the Lincoln dollar design. Coins have always been about images, not inscriptions. The inspiring obverse portrait makes up for the reverse, but it could have been so much better if a meaningful image had been found. As a collector, I am of course torn between the desire to see the coin succeed and the desire to have sales tank right after I bought mine. In this case, I truly hope to see a sellout to properly honor the memory of Mr. Lincoln.
I have never been to the Lincoln memorial, partly because I have never been to Washington, D.C. and partly because I know that when I finally get there, I am going to cry like a baby. I am a direct descendant (only six generations away) of a man who celebrated his 20th birthday in January of 1778 at a place called Valley Forge. By the time the creation of this nation was secure, Obediah Hardesty had been shot seven times in seven seperate battles. Then he got married and raised a family. His grandson Solomon (my great-great-grandfather) served in Mr. Lincoln’s army.
Susan, you can’t please all of the people all of the time so don’t even bother trying. I think you were right on target and so far it appears that Western Sage stands alone. Thank you for all you do!
WS – “Many people would have preferred “fewer” tax cuts”?… Ummmm I happen to prefer to hold on to the money I worked hard to obtain. Eliminate all of the pork!!!
Back to what we should be discussing here… How many times has a commemorative sold out in the first 24 hours? I wouldn’t think the lottery concept would come into play too often and imagine the mayhem that would ensue if it did. The ordering system can’t keep up with standard orders when it gets busy.
I personally don’t mind the big dealers “swooping in” to buy up the coins. They do help promote the hobby, albeit at inflated prices. I for one would certainly never pay “TV” prices for coins. But assuming the coins don’t sell out right away, then the individual buyer had their chance. You snooze you lose.
One thing we tend to overlook regarding the pricing of commemoratives is that the issuing price is intentionally inflated to provide funds for some project associated to the commemoration. Part of our purchase price is basically a donation. That could help explain why they sometimes fall in value on the secondary market. Buying commemoratives for investment purposes can be risky.
Some of the problem could be commemorative backlash. Most of the issues prior to the mid-90’s still trade at a discount to issuance price.
Today, collectors are going to seek commend that are reasonably priced and attractive. Even for the Lincoln, the price is reasonable, but the reverse is questionable.
To really sell out a design, the coin offered should be somewhat unique, have a fresh attractive design, and have a broad appeal beyond coin collectors.
I think the Lincoln is OK, but I wouldn’t give it as a gift. On the other hand, my granddad went ashore at Iwo Jima, so I have given several Marine dollars as gifts to family.
Wow, sorry to hear so much carp about a coin. I want to cancel any dealings with the Mint. In fact I feel like throwing up. Your story is such a sad commentary to coin collecting, greed and what is the behind the scene at our US Mint. Your story just reenforces my feelings, and why the average small coin collect can’t get products from our US Mint. Discouraged to nth degree. WoW.
Hey, I just got a product notification email from the mint. It turns out that the Abraham Lincoln Commemorative Silver Dollar is now available! Jeeze! This is why I missed out on the Franklin dollars a couple of years ago. By the time I got the notification, they were sold out. That’s why I have been a regular visitor to the mint’s web site since then, making sure that I don’t miss something else. Since their newsfeeds are even farther out of date than the emails, routine website visits are the only way to stay current. Unfortunately, frequent site visits only serve to enlighten one to the mint’s shortcomings (how far down the hall do you think they’ll get before they notice the toilet paper they’re pulling out of the bathroom?)
The mint charged my credit card yesterday for my order of 4 (2 PF, 2 MS) Lincolns. When I saw the email from the mint, I thought it might be the shipping notice, but no such luck. The product notice also has a link to the RSS page, where the newest notice is from last June.
Susan,
I can’t agree with you more and will reinforce the comment that you should not worry about what you write. From my view you print the facts and your feelings and I for one am fine with that. I have not talked to anyone who thinks the stimulus was not loaded with pork. This concept did not work in the 30’s and it will fail now.
That said, diligent collectors pay attention to the mint web site and your blogs in order to stay up to date on new releases. I have never been shut out on a coin or set of coins when ordering from the mint. There is more than one way to skin the kitty and sometimes we must be inventive ourselves to get what we desire. Isn’t that what “Self Reliance” is all about. We collect for the fun of it and also for some investment. Sometimes we get it right and other times we don’t. I feel the mint should do more to keep the mintage limts low and not raise them and sell an item into the next calender year as they did with the 2007 Platinum Reverse Proof Set which made the ones I purchased worth less. We will never all agree on what the mint does but we all have the right to choose. At least for now we still live in a FREE COUNTRY.
Thanks for all you do and keep up the good work. Your words truly project the passion you have for the hobby.
Hey Susan, if the mintage of uncirculated commemoratives is always lower than proofs, then why aren’t they worth more later down the line? Is it just because of the aesthetic appeal of the proof coins, or is it because they often grade higher? I bought 3 of each.
Hey Matt,
Check the value of the 1991 1/2 oz Eagle. The Unc. mintage is much lower and the value is listed much higher. From what I see, the norm is less proofs minted and a better method of manufacture equals higher value.
I have to stand corrected, I just received the email from the Mint announcing the Lincoln Coins are available. It is sort of confusing to the public that they can be half way sold out at the time they are announced to their email list. I suppose if I had more self reliance I would spend my time checking the mint web site every day.
When it is all said and done, the $ 38.00 price seems a little too high for me. I think that is why they had a hard time selling the Eagle coins. Comm. Silver coins have a perceived value and price to the collector and pushing $ 40.00 each is going over the top.
Your column op this subject was very well researched and contained a lot of good information, although I do agree with the comment from Western Sage.
I agree totally with the sentiments of the blog Susan posted. Economic conditions and even this supposed “stimulus” package has an affect on the numismatic community whether we like it or not. (See her article about the availability of the new cent)
Also, I was blown away by Clair’s post. It almost gave me goosebumps. That is so cool that she can trace her lineage back to Valley Forge. I hope she gets to visit Washington DC someday. What a heritage she has.
http://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GSmid=46555655&GRid=6894941&
Well, maybe things are starting to get back on track at the mint. I just received shipping confirmation for my Lincoln dollars, 2 each proof and uncirculated (I noramlly only order one of each, but this time I wanted more). It is a standard USPS tracking number, so it will be a couple of days before any data shows up on the USPS website. I usually see the item go through the USPS hub in Dallas a few days to a week before it shows up in my mailbox. This shipment is under $300 and I did not opt for expidited shipping, so this does not test the status of the signature required problems at the mint, but at least this product shipped when the original order confirmation said it would.
“Does this paragraph come across as being less than objective?”
Susan, Perhaps only slightly less than 100 percent objective but far more than 100 percent fact.
I stumbled upon your site this evening doing a search for DMPL Morgan dollars. I appreciate your sharing your knowledge with your fellow numismatists and I look forward to perusing the rest of your site.
Like you, I grew up in the 1960’s and 70’s collecting coins. My dad worked in a bank and used to bring my brother and me all of the silver that he came across. It helped me to buy my first new Honda motorcycle in 1980 when the silver market went bonkers.
Cheers!
Sue,
Not ta worry. I’ve been on this site since you came here. Your stories & articles are excellent & truthful. The facts are sometimes more than some want to absorb, hence defensive comments. Economics 101 says simply “You can’t borrow your way out of debt”. There’s only 2 ways out… increase income or decrease spending & if you can do both, simultaneously, then all the better.
Now then, with that said, thanks for the insight and keep up the good work!
~The Yankee~
ps: Lots of pork in that package!
Yankee,
Will you do me a favor and run for President? lol
Yankee! Sure is a lota fat in that pork. What about people that can’t have pork for various reasons i won’t mention here. The thing is this has everyhing to do with collecting, and the reasons why things are the way are, right? What is this all of a sudden, the socilalist dems from the right getting their panties rolled in a bunch? Jeeez, it’s only america. We are allowed to speak freely. We still ain’t getting our coins any sooner.
coiny
Yankee, There is one other way out debt. That is to produce your way out. And I don’t mean just make stuff. I mean make good stuff that lasts. If we build schools and hospitals and homes and the roads and bridges between them and the cars & trucks to take us from one the the next and we build them all to last, we just might find our way to where we want to be. My point is quality over quantity, something that the overbearing push for individual productivity and wasteful consumption has tossed aside all over the world. It is clear that there are people at mint that still care about the quality of the products they make or we would never have been tempted with the UHRDE in the first place. Unfortunately, the people in charge of the whole affair are still lost in the false economy of “cheapest is best” and have failed to build an infrastructure (web site, distribution centers, etc.) to properly deliver a quality product in a quality way.
Just another note. It looks like FedEx has fully integrated the former DHL into its systems. For lower value shipments, the mint used to use a service where DHL would take items from the fulfillment center to USPS hubs and then turn them over for normal USPS home delivery. FedEx continues that service method and has added their tracking capability to it. It is now podssible to enter a USPS tracking number into the FedEx tracking application and follow your shipment from the fulfillment center to the USPS hub that serves you. Past that, you have good old USPS tracking, with its once a day updates (at night) which usually only show three things. You see a package hit the hub, arrive at your local post office, and finally show delivery. Unfortunately, the USPS update for the last two usually does’nt happen until after you have your package in hand. At least now, we have the ability to watch items travel from the mint to the USPS hubs, at which time we know that we will have our stuff in two to twelve days (based on my past experience). In my case, Abraham has left the mint and is on his way to Dallas.
Congrats! Claire on your notification on your Lincoln Dollars. I ordered mine at 12:05 with a shipping date of 2/19/09 but no notification yet hope then don’t extend my shipping date. Bummer!!!
Charlie, I placed my order just a minute or two before you so you should get your shipping notice today. If they have charged your CC, then they should be about to ship. I had the same 2/19/09 ship date, but they charged my card on the 17th and shipped yesterday. Today my coins are passing through Earth, MO, on their way to the Dallas USPS hub. From there, they’ll drive them down the old Chisholm Trail (now known as Interstate 35) and in about the same amount as it used to take cattle to go the same distance, I’ll have my coins.
I placed my Lincoln commem order within the first 20 minutes. Still no CC charge or shipping notification from the Mint. Are these orders supposed to be fulfilled FIFO like the UHRs?
Fortunately for me I don’t typically experience the same postal nightmares that Clair does. My packages usually arrive within a very reasonable time and I’ve got a terrific delivery guy. I will admit though, I’m the same in that I usually recieve my stuff before the tracking site is updated.
I agree with Mark, that’s pretty cool that Clair can trace her lineage back to Valley Forge.
Folks,
We are all perplexed by political/economic discussions today. Hopefully recent policies will help our country. Hopefully, people who simply want any policy of the new administration to fail will be as wrong as they are historically inaccurate about the failure of Roosevelt’s policies in the 1930’s!
I have ordered the UHRC and the Lincoln proof coins. I am still perplexed by the Mint’s inability to process and ship FIFO in a timely manner. Both orders were within the first 15 minutes. They have notified my CC company, but have resisted the urge to ship.
Why do they hype a product and then act as if they have all the time in the world to respond to a paying customer? Perhaps the Mint buying service needs “Change We Can Believe in”!
Oh, there’s gonna be plenty of change coming & enough for everyone to gnaw on, but I don’t wish failure on the administration because that would be wishing failure upon myself, now wouldn’t it?
I wonder how much of a raise Congress will award itself with all that extra dough rolling around. hmmm? Geeze, maybe cutting their salaries by 40% or so would help out a bit? Now that would be “Change” I could relate to.
The Yankee
What is the story with the US mint?? Ridiculous delays on the UHR, delays on the Lincoln Comm. I ordered at 12 noon right as they opened. They were to ship on 2/19- No charge has occurred on the credit cart no email and now the track order system has been hacked. What kind of railroad are they running up there? I have not ordered anything from them in the past, but was excited by the UHR. My ship date was orig late Feb then changed to 3-6 then3-19. I doubt I will try to order anything from them in the future until I see on these boards that they have squared this mess.
OK, I just had to say this: My Lincolns have left Earth and are on their way to Dallas. I did notice that no claim of first-in, first-out is made for the Lincolns, but I think that it should be mint policy for all special, limited issue coins (my order was placed in the first three or four minutes of availability). First-in, first-out is difficult to live up to unless orders are limited to a single coin type since the mint does not charge a per item shipping fee. However, I think it ought to be the stated goal of the mint to come as close to this ideal as is possible. I think the whole issue still goes back to the relationship between the mint and its fulfillment contractor. I don’t think the contractor cares about anything but its profit margins, the mint’s commitments to its customers are not part of the equation. Orders never placed are not considered business lost as they should be. I want to see a whole bunch of people, starting with Mr. Moy, stand up and say “I screwed up, and I’m sorry” but I don’t really expect to see that happen. Things like the ablility to cancel someone else’s order could and should have been fixed in a day, but a week later order tracking is still down. I’m sure someone knew that the cancellation thingy was a major security hole years ago. It was incredibly obvious when you saw it. Honest, open communication is what is needed at the mint, but that is one thing that appears to be entirely outside its comfort zone.
None of my coins have shipped at this time. My order for the UHR3 and the Silver Lincolns were within the first 15 minutes. That was as close as I got!
However, I do have a hold on my CC for both orders. All they have to do is ship the merchandise and debit the account, but that seems to be a big problem.
I think it might be time to contact Geitner and request a change. Although he has the small issue of saving our economy at this time. He might not have the time!
Just received my Silver Lincolns to day 2/20. Placed my order 12:10 P.M.
Got my confirmation for my Proof Lincolns last night at 10:30 must be working overtime and I just received conformation of my unc. at 9:50 can’t wait till I see them, Charlie