Best Of

@pcgscacgold said:
The lot under that item as a 1834 Classic Head $5 that sold for $500 ($600 w/BP). That doesn't even cover melt on that coin.

Many of the gold coins sold for at or around melt prices, even PCGS certified mint state ones. The consignors would have probably done better throwing caution to the winds and running no reserve ebay auctions or just shipping them to HA or Stacks Bowers for their buy prices.

@NJCoin said:

@goldbuffalo said:

@NJCoin said:

@goldbuffalo said:
This is a fail for the mint. they could’ve struck 7500 privy and netted $27 million and the collectors would’ve been much happier not having to spend $30,000 on a coin.

Not really sure what they think they accomplished here.

.

"Fail"? 🤣🤣🤣

Not so much. No one forced anyone to spend $30K on a coin, so I'm pretty sure those who did so are not unhappy with their decision.

Given that each coin contains $2700 worth of gold, plus costs of manufacturing, packaging, marketing, etc., the Mint would have had to sell each of 7500 coins for $6300+ to net $27 million from selling that many. What makes you think they could have done that?

What they accomplished was creating a buzz, a bidding frenzy, and a modern rarity. In addition to netting around a cool $8 million, less SB's cut.

Count me not impressed.

Woohoo the mint and strike 230 unique coins and sell them for more money...

so what, is that something new.

What buzz is needed, they sold the non pivy's in less then five minutes.

Yeah. This wasn't meant to impress us. Nor to give us something to flip. It's a high end product meant for a high end market. Not everything they produce is meant for everyone.

I don't think that was the point. The point is to create buzz. You said it yourself, the income is meaningless.

Prices were really crazy, but at 230 minted, this was basically one of the lowest mintage US mint coins, legal to own, that you can buy for less than $100,000. Sure, they can do this game again, and might, but this is still a very limited coin worth more than most expected and these purchasers are not going to be selling them for less than they paid any time soon.

There is the 1875 only 100 mintage $10 Liberty eagle out there, but it is usually more than a couple hundred thousand. The more recent V75 is pretty special at 1,945 minted. The two 2024 uncirculated commemorative golds are lower than the V75, but each still were more than 1,000.

What other actual coins, not medals, or proof patterns, are there in the last 150 years or so that are lower mintages than this?

The lot under that item as a 1834 Classic Head $5 that sold for $500 ($600 w/BP). That doesn't even cover melt on that coin.

Amazing it made it.

@NJCoin said:

@goldbuffalo said:
This is a fail for the mint. they could’ve struck 7500 privy and netted $27 million and the collectors would’ve been much happier not having to spend $30,000 on a coin.

Not really sure what they think they accomplished here.

.

"Fail"? 🤣🤣🤣

Not so much. No one forced anyone to spend $30K on a coin, so I'm pretty sure those who did so are not unhappy with their decision.

Given that each coin contains $2700 worth of gold, plus costs of manufacturing, packaging, marketing, etc., the Mint would have had to sell each of 7500 coins for $6300+ to net $27 million from selling that many. What makes you think they could have done that?

What they accomplished was creating a buzz, a bidding frenzy, and a modern rarity. In addition to netting around a cool $8 million, less SB's cut.

Count me not impressed.

Woohoo the mint and strike 230 unique coins and sell them for more money...

so what, is that something new.

What buzz is needed, they sold the non pivy's in less then five minutes.

This is a fail for the mint. they could’ve struck 7500 privy and netted $27 million and the collectors would’ve been much happier not having to spend $30,000 on a coin.

Not really sure what they think they accomplished here.

.

Why would such a valuable coin _not_be certified, even if in a details holder? Possible reason: it’s been messed with (tooling, rim filing, repaired, ex: jewelry, etc.).

@ProofCollection said:

@dhikewhitney said:

@PerryHall said:
Maybe they should change their name to Rare Coin Retailers.

I'm persuaded they buy at or below wholesale. It's just good business.

I just wonder who sells to them? Because a coin company that sells coins at wholesale prices has to acquire the far below wholesale.

Steve Contursi is well-known in the dealer community. The “whispers” I used to hear about his company were:
1. They generally bought expensive and rare coins at auction, and they were willing to pay up for them.
2. No one seemed to know where their funding came from, speculation was billionaire(s) who wished to remain anonymous.
3. They set up a table at Long Beach, with their extremely nice coins displayed for sale at what I would describe as very high prices, usually with a strong markup to what they brought at public auction. Whether they sold any at their asking prices I don’t know. Their business model did not seem concerned with actually selling coins.

Wow, I'm impressed a postal employee didn't snatch them.