US Mint Director David Ryder Resigns - 'What if I Ran the US Mint?' - What Changes Would You Make?

Thanks for watching.

Please comment, share, like and subscribe.

See some of our inventory:

Join this channel to get access to perks:

Follow us:

Ben The Coin Geek
Old Pueblo Coin

[Ontario]

I like the idea of setting a time limit to order. Let demand determine the mintage. Only mint what is already sold. No more old products sitting around. I would get rid of the penny and nickel. Both cost more than their face value to make. Then, I would also reintroduce the half dollar to circulation. Thanks 👍 😀

[Pacificstacker]

For low mintage releases I'd make it where you had to reserve a spot in a raffle. If your number gets called you have 3 day's to pay. If you fail to pay it will be offered to someone else. And no bulk purchasers for said items

[TheQuickSilver]

I'd have the mint sell directly to coin shops for many things including Silver and gold eagles. That would essentially kill the market for the big boys who are making all the money now (APMEX and A-Mark are big culprits) and leave more profit for the small coin shops while driving the stupidly high premiums down to a far more sane range. For specialty products I'd start asking the coin collecting community what they want to see the mint produce, instead for series like the First spouse coins maybe we'd get something we actually want.

[tw-squared]

Appoint Ben the permanent Director of the Mint! Lol!! Great blog! 👍

[montanaguy]

Ben, great VLOG and rant! I agree with all that you brought forward, no exceptions!

[donaldinnewmexico]

Hi, Ben. If getting rid of Ryder is needed for the Mint to make some much-needed improvements, it is about time. I would like to see the Mint's sales of collector coins be more collector-friendly. My one significant change would be to allow ASE collectors like myself, who buy an example of every ASE the Mint puts out, to be in a subscription program that includes an example of every ASE made. I like the subscriptions I can sign up for, but I hate the fight to get the limited edition coins. As a collector, I would like the Mint to sell me an example of every coin I want. I have other concerns that I would address, such as prices, delivery, and wait time for delivery. The wait for the Morgan and Peace Dollars has been a fiasco. Prices are too expensive. So much for suggesting only one change. *TYU*

[donaldinnewmexico]

Yea. My ASE RP Set was delivered today. It came by Pony Express. It was very dusty from the trail. The horses were very thirsty.

[ProKarate]

Getting rid of the US Mint authorized purchasers program which allows 18 priviledged coin dealers to acquire mint product 1 week in advance of the general public. No one else can obtain an Advanced Releases certification and it also allows them to corner the market on certain popular products like the 2020/2021 silver and gold eagles.

[jonnym]

You are absolutely right. But I think it should be more drastic. Get rid of the penny and nickel, keep the dime. Then change the quarter into a 20 cent piece, (so that it aligns with the denomination pattern of currency). Also bringing the half dollar back into business strike production.

[silvertopaz]

Great video, I would drop the Cent and Nickel, come out with a $5.00 coin. Drop the $1 and $5. Coins last 30 or more and bill last 18 months.

[davidho]

Look on the bright side. It's almost October. If you ordered any 2021 Morgans/Peace, they should be arriving soon.

[tomtalley]

So I am a long time mint customer that stopped buying anything from the mint under his leadership. I know a lot of the coin programs come from congress, but the lack of a professional web site for a entity as big as the US Mint is kind of ridiculous. The last three times I tried to order, I was locked out. Also, the extremely high premiums on coins particularly silver. There is no reason to have silver five times the cost of spot. Also, selling mass quantities to big companies and locking out the small guys and collectors. Eventually, more people will stop buying from the mint.

[misterTVman]

Has anybody ever considered the reason they don't get rid of the penny is because they don't want to remove Lincoln from a coin?

[KKustenmacher]

I would get rid of the penny and nickel and add a $5 and $10 coin for circulation.
I would also start a silver/gold hammered coin series. I think that would be neat.

[jerryspencer]

Replace the penny/cent with a two cent piece, same composition and size as the penny. Do a throwback design, create collector interest and stop losing money on the production of a coin. Enjoy your videos; best coin related videos on youtube!

[curtiswhite]

I agree with your idea about the authorized purchasers, maybe not eliminate but reduce the amount that they can get (3 - 5%). To include the dealers is big. I would like to improve the shipping department. Safer, faster shipping as an option to purchase. Most likely will cost more.
The United States Mint is the one agency that can make money from it's services. I know that you said that the website is off limits, but. Purchasing a better ordering system is going to cost more money. Charging customers more for the coinage up front. To cover the cost of the new system. Then reduce the cost of your coinage to a more reasonable rate. Any Director of the mint that looses money in a fiscal year, will loose their job.

[ronmueller]

Revamp the website, limit the overall offerings, hire more folks, no more preferred dealer list, lower household limits, encourage better customer service practices, be more in touch with collectors and sincerely value their feedback, improve quality of strikes on circulating coins, more realistic and fair pricing on certain coin offerings

[scottcahala]

Stop the BPP. Open up to the average dealer if you have a dealer license. Increase purchase limit.

[floridacoin]

LOVE THE COMMENTARY!!! Here is an idea, How about the mint having a consulting group made up of professional numistmatist, that they consult when bring up new products? This could be made up of big dealers like Ira Goldberg or Mr. Kagin, but then also include brick and mortar guys from all over the country and maybe even throw in Kenneth Bressert or Jeff Garrett for good measure. The two previous, whom I just named go to ANA's summer seminar all the time, so why not once a year to D.C. for a little consulting. Of course Ben "the coin geek" should go as well. If the government paid for your hotel, airfare, and meals would you go for a couple of days?

[scenebender]

I am a new dealer in Florida. Tried to call to get info on bulk purchases and the phone just rang for 30 minutes.