Top 128 American Mint Reviews | Page 5

original review : April 30, 2013 Wow, I never looked at american Mint on the internet while I worked there for respective years. I know how many people we pissed off over the years. First, 90 % of the coins they sell are n’t worth anything at all. They are collectibles and lone deserving what person is bequeath to pay for them. american Mint is owned by a Germany Company HMK GmBH. Initially, most coins were ordered from a Germany Company Munz-Pragstatt GmBH Munchen ( referred to as MPM ). Although inactive not worth much, the collectible coins were of much better quality. As a coin telephone line becomes more successful, we send the Germany coins to China to be copied ! MPM has no idea we get coins from China or we send their coins to China to be copied. The China coins are crap. The quality is atrocious as you can see real distinct color differences. But here is the bottom production line, here is a typical american Mint promotion. This special whatever named coin for only $ 4.95 plus shipping.

Okay, here is where the fun begins. Say the coin was a regular gold layered or silver-layered copper nickel bought by them from China. normally, these coins will cost american Mint approximately $ 0.80- $ 1.50. They are charging $ 4.95 for the coin plus $ 4.95 transportation and handling. This would be a total of $ 9.90. They use FedEx Smartpost as their shipper and can ship anywhere in the US under a thump for about $ 1.74. entire cost to American Mint approximately $ 3. At $ 9.90, that is over a 300 % profit. When a customer orders one of these promotional coins, they are entered into a subscription course of study. They can opt out of this but it is buried in the small print. In about three weeks, the customer will receive another collectible in the series of coins. This is where american Mint makes their money. These subscription coins are often sold at $ 79.95. Often, they are the lapp China coins bought by american Mint for $ 0.80- $ 1.50. now that is quite a profit.

They put Certificates of Authenticity with each coin. What a joke particularly for substantial United States currency coins they sell. For years and years, they advertised and certified these coins as being in Extremely Fine condition. An exercise of this was a promotion they ran with the 1907 amerind Head Penny. The certificates stated they were in extremely all right condition. The coins were never graded. I credibly verified several thousands of these coins in my prison term there. Based on the coin bolshevik reserve, most of these were estimable or very adept condition. The remainder in price for good-very good and extremely finely is about $ 8. In fact, they were selling this way for years until they got worry about false advertise. So what they had me do is reinsert newfangled certificates into the coins saying they were effective or very good circumstance. No undertake was made to tell the customers they were misled. This occurred many times with Franklin Half Dollars, Peace Dollars, Morgan Dollars, and indian Head Pennies. probably, thousands and thousands of these coins went out in highly fine condition.

If you are buying real coins, you are probably better off going to a local coin dealer as american Mint marks up real currentness deoxyadenosine monophosphate much as 50 % of their cost. Beware of this company. I learned the hard way all about them. I ‘m presently drafting 51 letters to the Attorney General of each State and Washington DC to outline other commercial enterprise practices they may be concerned in ! I would n’t buy anything from this company unless you have money to burn !

reference : https://coinselected.com
Category : Coin collecting

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