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Why do dealers offer so far below melt for 90%? Why don't they just not buy it?
I do understand that getting rid of large quantities of silver can take a lot of time, so I understand why dealers are leery about having to sit on large stock in a potentially volatile market. But why don't they just not continue to buy instead of offering prices that are often less than 2/3 of melt?
Re: Is it an AU58 or an MS63+, and how would you value it?
@JohnnyCache said:
I agree Abuelo, hence why I was watching it.Do you have any further thoughts with respect to either grade? or the current hammer price?
There are no right or wrong answers, my intent here is just to share thoughts and have a friendly discussion. I thought this could be interesting.
You know, I am a bit sceptical of grading (no, I am not that cynical). Clearly at some point in time someone thought it was 58 and at another time, 63 based on a subjective opinion by a grader (that may or not like bust coinage or might not be an expert on colonial Colombian coins). My feeling is that when IA comes to play this will happen less and less. It is nearly impossible for me to know if there is rubbing on high points just looking at the picture, but I have seen coins in 58 jumping like this based on that very fact (people disagreeing on the condition of the high points). Coins in 58 are peculiar as not uncommonly are more attractive than 60 or 61. That said, people are used to give a price to 58 and a higher one at 63. Likely the coin sold fairly based on the number. As helpful as grades are, this is an area in which can hurt a seller as the coin could be very attractive for the grade or even undergraded, and the seller gets hurt because the market says 58 is 100 dollars...
Abuelo
Re: What trait do you consider to be your single greatest strength as a collector?
@EastonCollection said:
Weakness - lots of money.
The forum could always help you out with that. π€£
Time for a gem bust half giveaway. π
Re: What trait do you consider to be your single greatest strength as a collector?
@Crypto said:
Strength- my humilityWeakness- my incredible intellect and good looks intimidates people making them nervous to approach which robs them of the pleasure of my company
Wrong forumπ
Thank you for the LOL that provided - very well done!
MFeld
Re: 1891 O Morgan Grading?
@JimmyDaddyo said:
Does cleaning a coin cause it's **surface ** to **physically **change? aside from removing dirt or whatever.
yes
Re: What trait do you consider to be your single greatest strength as a collector?
strength...Stubbornness. When I see "that coin" I gotta get it regardless of cost.
weakness...See above.
Re: I can't comprehend what's going on with the 2026 uncirculated mint set's
@jmlanzaf said:
@NJCoin said:
@jmlanzaf said:
@NJCoin said:
@jmlanzaf said:
@NJCoin said:
@jmlanzaf said:
The subscriptions for these are currently available. I took 10.Oh boy! The subscriptions once again became available! Who among us saw that coming? π
Please be sure to keep us updated when you cancel, once it becomes clear to you there is not going to be a secondary market for them at $124.50, let alone a premium above that.
2025 sets are still at $160
The only reasons I would cancel is if either they mint more than 190k or the cents are available elsewhere. Otherwise, I'm looking to add to the subscriptions. I actually tried which is how I found out they weren't available.
Fair enough. But 2026 isn't 2025. I have a feeling these are not going to sell out at these prices, and the value won't be there.
You said you recently sold Marine privies at $150. Why, when Army privies, with the same mintage, are selling for $219? Same thing.
I fail to see how that is at all the same thing - Navy and Marines are the same price, by the way.
The 2026 year set is the only place to get the Lincoln cent (we think) and should, therefore, be more valuable than the 2025 set which is NOT the only place to get the Lincoln cent. I'm only asking it to have the same secondary value, not more, to make it worth the flip. You also have all of the ony-year type 2026 coins (including the dual-dated Lincoln).
Okay. To me they are very similar. 2025 went into the market at $33.25 when people didn't know for sure that cents would be done. They bid the sets up, even though over 500 million cents are floating around. Irrational exuberance.
For 2026, people now know these will be annual things. Starting at $124.50. TBD how many end users think they are worth jumping on at that price. Or higher.
Army privies were the first. And still go for more than the navy and marines that came after. You sold your marines for $25 less than the Mint will be offering them if they ever reappear on the website.
The same price, or maybe even less, than you think you'll be able to sell the 2026 sets for. Even though the marines have half the mintage, and $100 worth of silver in them.
The 2026 sets will be hitting the market at nearly 4x the price of the 2025s. Connect the dots.
I don't see the value. If I'm wrong, it won't be the first time.
But, on some level, you have to agree that 190K cents that don't otherwise circulate, or have any intrinsic value, are not actually worth around $50 each when acquiring them does not involve winning a scavenger hunt, but merely being willing to give the Mint $124.50 for two of them and $6 worth of pocket change.
I know you're not buying them to keep because you think they will have value, but only because you cynically think suckers will take them off your hands at a profit before rationality returns to the market. I wish you luck, but I happen to think that if you actually follow through, you'll get burned. Not a ton of money, but still.
And actually, if I'm right, you'll back away when you see how readily available they are, and how soft the presale prices are before launch. And, if I'm wrong, I guess I'll be sorry I didn't jump in when I had the chance. TBD.
I don't cynically think there are "suckers". I think there are enough people who want the cents to continue their albums. It's the same reason "suckers" (your word) bid up ASE's of less than 100,000 mintage. They don't really have to have them, they want them for their collecting goals.
I think there is irrational exhuberance on the 2025 sets because there is nothing there that you couldn't get elsewhere. $50 for a Lincoln cent that is a one-year dual dated type to continue your album is not irrational. But, as you say, TBD.
You say tomato, I say sucker. Cents are done as of 2025. Anyone willing to pay $124.50 to anyone, but especially the Mint, to continue a set when the coin no longer circulates, at an arbitrarily insane price because the Mint arbitrarily chooses to bring mintages down from billions to 190K, when they don't circulate at all, is a sucker.
Because the "set" of circulating issues is done. What they are buying now is overpriced, non-circulating junk. Not $50 worth of silver for $100, but $0 worth of zinc for $50.
They don't circulate and don't have intrinsic value. The Mint is literally just taking advantage of suckers who think they need them to keep a set going. People who aren't suckers choose not to play, and end their sets when the government decides to end the production of cents for circulation.
Because the cents people previously collected, that were available for $0.01 in pocket change, or for a premium above that as part of a set, or in a slab, is not the cent that is now made in "limited quantities" at extreme premiums solely to be sold to suckers.
These are nothing more than poor man's Omega cents, which are also not needed to complete a set of circulating Lincoln cents. They are merely overpriced adjuncts to those sets.
232 are actually rare, for those who can afford them, and they came with a very special gold version to boot. 190K that will never circulate is not rare. Just a vehicle to separate suckers from their hard earned money. I think you should consider thinking twice about helping facilitate the Mint's distribution of them into the market, whether or not it works out for you short term.
Re: Wow, what do you think spotted these Omega Lincoln cents?
Improperly rinsed and dried before striking. These coins are not photogenic.




